We're in a housing boom, yet mortgage insurer Helia is in trouble
It doesn't have a permanent chief executive. Its biggest customer, Commonwealth Bank, is basically out the door, and now a second big customer looks set to follow.
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AU Financial Review
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High-profile Australian clothing and homeware brands including Bonds, Sheridan and Berlei could be sold after the American giant that acquired them almost a decade ago agreed to a $3.3 billion merger. Hanesbrands purchased Pacific Brands in 2016 after several years of pain for the ASX-listed apparel maker, which had written off more than $1.5 billion and sold businesses such as Hard Yakka workwear and Volley shoes.
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Footy fans help consumer spending roar into growth
Footy fever has helped score a try for consumer spending, with a series of big matches prompting Australians to open their wallets, the nation's biggest bank says. The British and Irish Lions rugby union tour and the State of Origin rugby league decider helped push household spending up 0.8 per cent in July, according to the Commonwealth Bank. "Fans spent up on travel, entertainment and accommodation," economist Belinda Allen said. About 83,000 fans bought tickets for the State of Origin decider, which was won by Queensland, in Sydney on July 9. The British and Irish Lions tour included nine matches in six cities attended by about 452,000 people, with all but two played in July. Recreation spending was up 1.8 per cent and hospitality spending increased 1.5 per cent. Overall, 10 out of the 12 CommBank Household Spending Insights Index categories recorded growth in July. Motor vehicle spending rose 1.4 per cent, insurance increased 1.2 per cent, and health was up 1.1 per cent. "We have been anticipating a lift in household spending for some time, supported by rising real disposable incomes, increased household wealth, and a resilient labour market," Ms Allen said. Spending on education was flat, and utilities fell 0.5 per cent. The index shows spending has risen 6.4 per cent in 2025. The biggest gains occurred in the communications and digital, up 10.9 per cent; recreation, up 10.3 per cent; and hospitality, up 10.0 per cent. "Strong growth in spending on recreation and hospitality over the year underscores that consumers are prioritising experiences and being deliberate about their spending choices," Ms Allen said. "We expect a further pickup in spending through the rest of this year and into next, helping to drive a broader economic recovery." Education was the weakest category in 2025, down 1.8 per cent. Spending on utilities was up over the year due to cost-of-living energy subsidies being wound back. The bank expects the Reserve Bank to further cut the cash rate in November to 3.35 per cent. "A lower rate environment should help fuel consumer optimism and spending in the year ahead, and into 2026," Ms Allen said.
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2026 Mitsubishi ASX engine details revealed ahead of launch
With the next-generation Mitsubishi ASX is winding its way through the government approval process, we now know what will power the restyled Renault Captur. Details gleaned from a government website reveal the new Renault-built ASX will be available with just one drivetrain option: a 1.3-litre turbocharged four-cylinder petrol engine making 113kW at 5500rpm mated to a seven-speed automated dual-clutch transmission driving the front wheels. It seems as though the new ASX uses the same drivetrain that was available in the pre-facelift Renault Captur. In the European Captur/ASX range, the same engine is sold with a 12V mild-hybrid system, and is rated at 116kW. CarExpert can save you thousands on a new car. Click here to get a great deal. This means the new ASX will miss out, at least initially, on the wide variety of drivetrains available in Europe. These include a clutch of less powerful petrol models, and a 119kW hybrid. In Australia, the second-generation ASX will be launched with three trim levels: LS, Aspire, and Exceed. The base LS rides on 17-inch alloy wheels, while the Aspire and Exceed have larger 18-inch rims. Other specifications for the ASX have yet to be revealed or discovered. In Europe the ASX/Captur is available with a 10.25-inch digital instrument cluster, and a new 10.4-inch portrait-oriented touchscreen infotainment system, which runs Google's automotive operating system, and supports both wired and wireless Apple CarPlay and Android Auto. Thanks to Australian Design Rule 98/00, which mandates specific technical requirements for autonomous emergency braking systems, Mitsubishi was forced axe the first-generation ASX. Launched in 2010, the ASX has garnered strong sales thanks to its value-for-money price. Its replacement is basically a lightly restyled version of the facelifted second-generation Renault Captur. Visually the differences between the two cars are limited to different grille, bumper treatments, and, of course, badging. The new ASX will be built by Renault in Valladolid, Spain alongside the Captur. Thanks to its European roots, the new model will lose its pricing trump card. While the outgoing ASX was priced from $24,490 to $35,240 before on-road costs, the pre-facelift Renault Captur retailed for $33,000 to $39,500 before on-roads. It will be interesting to see how well the new ASX sells, not only in relation to the old model, but also compared to the Captur, which is due to return to the Australian market later this year. The Captur has always been small player on the Australian scene, but the Mitsubishi brand is much better known Down Under and the company has a much more extensive dealer network. Mitsubishi is undoubtedly hoping it will be more successful than the last rebadged Renault it sold in Australia: the Renault Trafic -based Express, which debuted in 2020, and was axed by 2022. Aside from the Captur-based ASX, Mitsubishi also sells the Clio-based Colt and Symbioz-based Grandis in Europe.
