TRANSCRIPT
- The body of an Israeli soldier recovered from Gaza
- The heads of some of Australia's biggest banks to face questions at a parliamentary hearing
- Excitement builds as 50,000 fans flock to the Paralympics opening ceremony.
The heads of some of Australia's biggest banks are set to attend a parliamentary hearing today, as mortgage-holders struggle with interest rates.
Commonwealth Bank chief executive Matt Comyn and Westpac head Peter King are to give evidence before a House of Representatives committee reviewing Australia's big four banks.
The big four control about 80 per cent of the Australian banking sector.
The committee chair, Labor MP Daniel Mulino, says interest rate decisions are a key focus of the inquiry.
The official cash rate has been kept at 4.35 per cent by the Reserve Bank since November.
The Reserve Bank governor Michele Bullock said earlier in August that an interest rate cut would be unlikely by the end of 2024.
**
The Israeli military says it has recovered the body of a soldier abducted by Gaza militants on the 7th of October, and returned it to Israel.
The operation took place overnight, and the soldier's name remains undisclosed at his family's request.
Prime Minister Benjamin Netanyahu praised the soldiers involved and vowed to continue efforts to return all remaining hostages and bodies from Gaza.
Currently, 108 hostages are still held by militant groups, with about a third of those believed to have died and the fate of the others unknown.
Meanwhile, hostage Qaid Farhan Alkadi returned to Karkur on Wednesday, welcomed by his Bedouin community and journalists.
Mr Alkadi, who is 52, was rescued on Tuesday by Israeli soldiers searching tunnels in southern Gaza.
He called on the Israeli government to secure the release of all remaining hostages held by Hamas.
"I am talking to everyone, all the people, in Israel and the whole world must hear, I don't wish anyone to be where I was. So do everything, protest, and yes do everything so that people can return home.”
**
An Israeli assault in the West Bank has killed at least nine people in a major operation.
The nine were killed in different areas in Jenin and near Tubas.
A Palestinian paramedic, Nidal Oudeh, says the attacks on a refugee camp were shocking.
"Around 2am, the army raided the refugee camp with a big number of soldiers on feet. They raided the camp from different parts. We were surprised to find shelling in the area and there were four people killed and around 10 injured."
Israeli raids in the Occupied West Bank have risen sharply since October the 7th, with the Palestinian Health Ministry reporting thousands of Palestinians have been arrested and at least 637 have been killed.
While many of those killed have reportedly been fighters in militant groups such as Hamas and Islamic Jihad, others are stone-throwing children or uninvolved civilians.
**
Greens leader Adam Bandt has defended calls for a 40 per cent tax on what he calls "excessive profits" from big businesses, to help fund welfare programs, medicare and affordable housing.
He says this would be in line with policies from Australia's allies such as the former U-K Conservative government's decision to tax windfall profits in their energy industry by 35 per cent in 2022.
Mr Bandt has responded to claims that this will see corporations shift business to other countries.
"Every time that you talk about making the big corporations pay a bit more, they always squeal and say we’ll go somewhere else. People are still going to need supermarkets here, the minerals and resources will stay here. They’re still going to need banks here. We’re just saying when you make these big profits, do what other countries do and give a bit of it back to the public because that’s who you’re making the money off. When a nurse pays more tax than a multinational, something is deeply wrong. We can’t keep defending a system where nearly two in three gas corporations pay no tax."
**
The Opposition has branded the Albanese government's efforts to curb inflation as "a cost-of-living con job".
The monthly consumer price index rose 3.5 per cent over the 12 months to July, a touch higher than the 3.4 per cent expected result but down from 3.8 per cent in June.
Economists warn the data needs to be interpreted with caution as the monthly index is volatile, incomplete and influenced by cost-of-living relief measures.
Treasurer Jim Chalmer took credit for government measures that helped cool inflation with Commonwealth energy relief in Queensland and Western Australia plus separate state-based assistance contributing to a 5.1 per cent fall in electricity prices.
However, Opposition spokesman for the Treasury Angus Taylor says Labor's trying to manipulate headline inflation for political points.
"The Treasurer, as always, has patted himself on the back. And the truth of the matter is what we see from this Treasurer is a cost of living con job where our underlying inflation, our core inflation, remains sticky at four per cent. Indeed, we are at the back of the pack. Since the beginning of the year, we are the only one of the major advanced countries in the world that has not seen a reduction in its core inflation. It's exactly where it was back in January."
**
Excitement is building for the Paralympic Games in Paris, with the opening ceremony to be held on the Champs Élysées and in the Place de la Concorde.
50,000 fans are expected to be in attendance.
Organisers, Paris 2024, say over two million tickets have already been sold for the Games, including one million in just one month.
The President of Paris 2024 Tony Estanguet says he expects a "historic" Paralympics and that organisers are thrilled with ticket sales so far.
"It's exceptional. Before the start of these Games, we are delighted with stadiums that will be full in a number of sports. You have them here on the screen. Until the end, we're going to try to make room, to find small places and we're adding as we go along."
