Latest news with #GayeGerard
Perth Now
4 days ago
- Business
- Perth Now
Student loses bid to sue elite school
A current student of a prestigious Sydney school has lost his bid to challenge the school's controversial move to co-education. Newington College in Sydney's inner-west announced in 2023 the school would accept both boys and girls over a staged move from 2026 onwards. The school, which boasts yearly tuition fees of up to more than $45,000, will accept girls to Kindergarten and Year 5 from next year, while the senior campus will accept girls in Year 7 and Year 11 from 2028. The decision immediately sparked controversy among the school's community, prompting a current student to take the matter to Sydney's Supreme Court. The student, who can only be known as Student A, filed a lawsuit in December 2024. The case hinged on the terminology in the school's 1873 Deed of Indenture, with the statement of claim arguing the words 'an efficient course of education for youth' is 'limited to the advancement of education of boys and young men'. Newington College will gradually transition to coeducation from 2026 onwards. NewsWire / Gaye Gerard Credit: News Corp Australia Justice Guy Parker handed down his final judgement on Tuesday afternoon, finding that the terminology was used 'in a gender neutral sense'. '(I have) concluded that the word youth … was used in a gender neutral sense and does not mandate male-only enrolment at the College,' Justice Parker told the court. Tuition for the elite school spans up to $45,369 for those in Year 11 and 12, with the fees for those in Year 5 and 6 reaching $35,487.
Perth Now
4 days ago
- Business
- Perth Now
Suburbs where it's cheaper to buy than rent
It is more affordable for young Aussies to service mortgage payments than rent in more than 1000 house and unit markets nationwide, new research has revealed. With most of the country struggling with a cost-of-living crisis, weekly rents have soared 39 per cent over the last five years sitting at a median price of $659 a week, while the median mortgage repayment is $922, the study by Ubank found. In almost a fifth of Australian suburbs, the median mortgage repayment is estimated to be within $100 per week of the median rent, and in 7.7 per cent of suburbs, it is cheaper to pay a mortgage than to rent. The research found there were 495 house markets and 597 unit markets where this was the case. This pattern has seen a rise in 'rentvesting', with those interested in home ownership encouraged to assess their financial position and look to buy in a cheaper area, while continuing to rent in their desired location. Many young people are looking to 'rentvest' in order to own their first home. NewsWire / Gaye Gerard Credit: NewsWire 'Rentvesting is a strategy where a person rents a property that suits their lifestyle while owning an investment property that fits their budget,' Cotality head researcher Eliza Owen said. 'As inner-city home prices have risen, this approach has become more popular, particularly among younger buyers. 'Initially, it might seem counterintuitive to pay both rent and a mortgage, but it depends on an individual or couple's budget, life stage, and desired lifestyle. 'Rentvesting can offer the best of both worlds, allowing them to purchase a property and rent it out to cover some or all of their ownership costs while continuing to rent the home where they live.' A median rent of $659 a week is equivalent to paying a mortgage on a home worth around $590,000. Cotality head researcher Eliza Owen said purchasing may become a more affordable, accessible option than it has been in the past with several predicted interest rate cuts this year. Credit: Supplied The research points to a Sydneysider paying a median price of $787 a week, the purchase price would be equivalent to $704,000 – a unit in Canterbury, or a house in San Remo. In Melbourne, the median weekly rent of $610 would get a home worth $546,000 or a unit in Narre Warren, or house in Melton South. Brisbane's weekly median rent sits at $678 a week and is equivalent to a purchase of $606,000. This could score a unit in Zilmere or a house in Leichardt. Those living in Perth and paying the median weekly rent of $713 a week could instead put funds into a purchase equivalent to $638,000 for a unit in Jolimont or house in Maddington. Australia's median rent price sits at $659 a week, an increase of 39 per cent over the last five years. NewsWire / Max Mason-Hubers Credit: News Corp Australia A higher number of young Australians are willing to rentvest in order to purchase their first home, NAB Behavioural Economics data found. Ms Owen said purchasing may become a more affordable, accessible option than it has been in the past with several predicted interest rate cuts this year. 'Soaring rents coupled with falling interest rates has seen rent vesting on the rise as a growing number of first homebuyer investors choose to rent where they want to live while buying property in more affordable markets.'
Daily Telegraph
4 days ago
- Business
- Daily Telegraph
Oz Lotto prize will jackpot to $70m next Tuesday night
Don't miss out on the headlines from Money. Followed categories will be added to My News. The Oz Lotto jackpot has jumped to an eye-watering $70m after there was no winning first division entry for Tuesday's $50m draw. The winning numbers for Tuesday night's Oz Lotto draw 1632 were 37 45 46 12 16 39 24 and the supplementary numbers were 31 44 and 19. However, 12 Aussies have struck gold after splitting the division two prize of $618,373, with each of the dozen now $51,531.15 richer. Tuesday night's $50m Oz Lotto jackpot failed to go off on. Photo: NewsWire/ Gaye Gerard With no winner claiming the jackpot on May 27, the $70m prize for next week will rival the April jackpot which was the fourth-largest jackpot in the game's 31-year history. In the April draw, 15 Queenslanders who were strangers, bagged a $70m division one prize as part of a syndicate. But earlier in the year, the Oz Lotto jackpot hit $100m, the largest Oz Lotto jackpot offered in more than a decade. A Western Sydney woman took out the prize, instantly becoming Oz Lotto's biggest individual lottery winner in Australian history. For those who missed out on Tuesday night, they have a chance with another big jackpot on Thursday when the prize for Powerball is a handsome $30m. Originally published as With no first division winner for Tuesday's Oz Lotto $50m prize, the jackpot will rocket to $70m next week
Perth Now
4 days ago
- Business
- Perth Now
Mammoth $70m Oz Lotto jackpot up for grabs
The Oz Lotto jackpot has jumped to an eye-watering $70m after there was no winning first division entry for Tuesday's $50m draw. The winning numbers for Tuesday night's Oz Lotto draw 1632 were 37 45 46 12 16 39 24 and the supplementary numbers were 31 44 and 19. However, 12 Aussies have struck gold after splitting the division two prize of $618,373, with each of the dozen now $51,531.15 richer. Tuesday night's $50m Oz Lotto jackpot failed to go off on. Photo: NewsWire/ Gaye Gerard Credit: News Corp Australia With no winner claiming the jackpot on May 27, the $70m prize for next week will rival the April jackpot which was the fourth-largest jackpot in the game's 31-year history. In the April draw, 15 Queenslanders who were strangers, bagged a $70m division one prize as part of a syndicate. But earlier in the year, the Oz Lotto jackpot hit $100m, the largest Oz Lotto jackpot offered in more than a decade. A Western Sydney woman took out the prize, instantly becoming Oz Lotto's biggest individual lottery winner in Australian history. For those who missed out on Tuesday night, they have a chance with another big jackpot on Thursday when the prize for Powerball is a handsome $30m.
Courier-Mail
4 days ago
- Business
- Courier-Mail
‘Bullish sentiment is back': ASX200 soars to three month high
Don't miss out on the headlines from Breaking News. Followed categories will be added to My News. The Australian sharemarket inched closer to a record high during Tuesday's trading, notching up its fourth-straight day of gains as 'deals get done' and 'risk on sentiment' returns to the market. Despite a flat start to trading the benchmark ASX 200 index gained by 46.60 points, or 0.56 per cent, to finish the session at 8,407.60 points. The broader All Ordinaries rose by 42.70 points, or 0.50 per cent, to close at 8,631.50 points. All four big banks finished in the green led by Westpac which is up 1.7 per cent to $31.78, while ANZ jumped 1.4 per cent to $29.06, NAB added 0.9 per cent to $37.75 and Australia's largest bank CBA closed 0.8 per cent higher at $175.34. Bullish sentiment drove the ASX to gains for the fourth day in a row. Photo: Gaye Gerard / NewsWire As Wall Street enjoyed its long weekend, Australian investors confidence rose on the back of tariff pauses between Washington and the European Union. US President Donald Trump says he will pause a 50 per cent tariff on the EU until July 9, to give the trading bloc a chance to work out a trade deal. 'Bullish sentiment is back, trade deals are getting done, political global leaders are doing deals and want to do deals … everyone is looking forward to Nvidia saying what the world is going to look like for the next 10 years with 60 per cent of the biggest companies in the world buying more Nvidia chips,' Moomoo market strategist Jessica Amir told NewsWire. 'Markets are probably going to take out their records very soon.' Experts say market conditions will continue driving growth in the Australian market. Photo: Gaye Gerard / NewsWire With the anticipation of Nvidia's announcement, the information technology sector drove the ASX rise with gains of 1.10 per cent, and 2.30 per cent for the past five days, led by Wisetech and Technology One. The second spark was ignited by Aussie copper stocks, with Capstone Copper Corp surged 6.5 per cent to $8.43 and Sandfire Resources jumped 3.09 per cent to $11.36 after Canadian heavy-hitter Ivanhoe Mines pulling out of Africa's biggest copper mine. 'Copper is having a field day … China is probably about to really ramp up their production and development of semiconductors and new energy materials to power their economy for the next five years,' Ms Amir said. Copper 'had a field day' as China prepares to ramp up production. Picture: Newswire/ Gaye Gerard. In corporate news, Telstra chief executive Vicki Brady told investors Telstra would decrease their workforce by 2030 in favour of AI. TLS gained 0.42 per cent stronger to $4.75 despite opening in the red, following Telstra's investor day where it announced its five-year Connected Future 30 strategy. Woodside closed at 0.6 per cent higher with the market responding to an imminent decision from federal Environment Minister Murray Watt on whether to extend the operation of WA's North West Shelf gas project to 2070. The decision is due by Saturday, May 31. The AUD remained strong, while the USD traded on its third straight day of losses. Picture: NewsWire / Max Mason-Hubers The Australian dollar roughly held buying 64.42 US cents despite the Reserve Bank of Australia signalling further rate cuts. The US dollar traded on its third straight day of losses as the presumption of American exceptionalism continues to corrode under the unpredictable leadership of President Trump. 'The rise of the AUD is all about the death of the dollar, the US dollar. So not only do we have all the other major currencies rising such as the Aussie dollar, but we've also got the European dollar hitting one of its highest levels that we've seen for some time,' Ms Amir said. Originally published as 'Bullish sentiment is back': ASX hits three month high
