Australian wage growth holds steady at 3.4%;Australia's Largest Bank Posts Record $10.25 Billion Profit
Good morning! It's Thursday 14 August . This is The Front Cover, your daily portal into Mencari News's universe as well as our interpretation of the global scene.
One of the big stories this morning is that Commonwealth Bank of Australia has reported a record annual profit of $10.25 billion. Australia's wage growth trajectory has hit a turning point, with annual increases steady at 3.4%, but the underlying dynamics reveal a more nuanced story about economic momentum and worker compensation trends across the nation's labour market.
Your subscription to Mencari will help to fund our operations as an independent media organisation. Becoming a paid subscriber
Join over 1000 readers. Sign up here.
We'd love it if you could share the email with your friends! Just (copy the URL here.
Today's reading time is 5 minutes. - Miko Santos
Australian wage growth holds steady at 3.4% annually
The Australian Bureau of Statistics released June 2025 Wage Price Index data showing annual wage growth held steady at 3.4%, unchanged from March 2025 but down from 4.1% growth recorded in June 2024. The quarterly increase of 0.8% represents a slight moderation from the 0.9% rise seen in the previous quarter, indicating wage growth momentum is stabilizing across both private and public sectors.
A notable trend emerged in the distribution of wage increases, with fewer jobs experiencing wage rises above 4% compared to the previous year. Public sector wages grew 1.0% quarterly due to backdated pay rises from recently approved enterprise agreements, while private sector wages increased 0.8%. This shift toward smaller, more distributed wage increases suggests Australian labor market conditions are normalizing after the elevated wage pressures experienced in 2024.
29-Nation Coalition Demands Gaza Aid Access as NGO Operations Face Shutdown
Foreign Minister Penny Wong joined 28 international partners in signing a joint statement condemning restrictive registration requirements that threaten to force essential international NGOs to leave Gaza, potentially worsening the humanitarian crisis. The declaration, signed by foreign ministers from Australia, Belgium, Canada, and 26 other nations plus EU officials, warns that "famine is unfolding before our eyes" and demands Israel provide immediate authorization for all international NGO aid shipments and unblock humanitarian operations.
The coalition called for urgent ceasefire negotiations while acknowledging ongoing mediation efforts by the United States, Qatar, and Egypt. The statement emphasizes the need for "immediate, permanent and concrete steps" to facilitate large-scale humanitarian access through all available crossings and routes, including the delivery of food, medical supplies, clean water, and fuel. The signatories specifically condemned the use of lethal force at distribution sites and demanded protection for civilians, humanitarian workers, and medical personnel operating in the territory.
Investment Loans Surge 3.5% as Australia's Largest Bank Posts Record $10.25 Billion Profit
Commonwealth Bank of Australia reported a record annual profit of $10.25 billion Tuesday, driven by robust lending growth and improved interest margins, even as investment property loans surged 3.5 percent in the June quarter.
The country's largest lender delivered the bumper full-year result for fiscal 2025 while adding $40 billion in new loans to homeowners and businesses, bringing total lending to $761 billion. The bank's interest margin increased by nine basis points to 2.08 percent, reflecting the difference between income from loans and payments to savings customers.
"This year we have continued to execute our strategic priorities, maintain strong operational performance and deliver consistently for our customers and shareholders," Commonwealth Bank chief executive Matt Comyn said in announcing the results.
SUPPORT MENCARI
The Mencari - Australia's Politics delivers fact-focused reporting to over 1,000 inboxes thanks to readers like you, and your contribution today will strengthen our ability to provide verified, evidence-based journalism completely free from financial or political influence as we work to establish ourselves as Australia's premier independent news organization focused on accountability through thorough investigation.
As well as knowing you’re keeping MENCARI alive, you’ll also get:
Get breaking news AS IT HAPPENS - Gain instant access to our real-time coverage and analysis when major stories break, keeping you ahead of the curve
Unlock our COMPLETE content library - Enjoy unlimited access to every newsletter, podcast episode, and exclusive archive—all seamlessly available in your favorite podcast apps.
Join the conversation that matters - Be part of our vibrant community with full commenting privileges on all content, directly supporting Mencari's
Catch up on some of Mencari’s recent stories:
METRO & POLITICS
➡️ Hamas Praises Australia's Palestinian State Recognition as Coalition Slams Labor Policy. Australia's Labor government faces criticism from the Coalition opposition after Hamas praised the country's decision to formally recognize a Palestinian state, with critics arguing the terrorist group's endorsement proves the foreign policy move is wrong and will embolden extremists rather than advance Middle East peace.
➡️ Pregnant Woman and Partner Found Dead in Melbourne Home as Neighbor Describes Horror Discovery. A homeless man has been charged with the brutal murder of pregnant Athena Georgopoulos, 39, and her partner Andrew Gunn, 50, who were found dead in their Mount Waverley home by a horrified neighbor, with police investigating the targeted attack that claimed the lives of the expectant mother and her unborn daughter.
➡️ Federal Politicians Clash Over South Australia Algae Crisis as Marine Life Deaths Mount. Federal Environment Minister Murray Watt and Opposition Leader Sussan Ley engaged in a political war of words during separate visits to South Australia's algae-affected coastline, where dead marine life including dolphins continue washing ashore, as the opposition demands a national disaster declaration while the government maintains $28 million in support is already flowing to affected communities.
WORLD AFFAIRS
➡️ European Leaders Rally Around Zelensky in Berlin Before Trump-Putin Summit in Alaska. Ukrainian President Volodymyr Zelensky joined German Chancellor Friedrich Merz and European leaders in Berlin for urgent virtual talks ahead of Friday's Trump-Putin summit in Alaska, as European allies express concerns about being excluded from peace negotiations that could determine Ukraine's territorial future in the ongoing war with Russia.
➡️ National Guard Troops Deploy to Washington DC as Mayor Rejects Trump's 'Authoritarian Push. President Donald Trump has deployed 800 National Guard troops and 500 federal agents to Washington DC in a crime crackdown that resulted in 23 arrests on the first night, while Democratic Mayor Muriel Bowser condemned the federal intervention as an "authoritarian push" and disputed claims that crime is out of control in the nation's capital.
➡️ Kim Keon Hee Joins Husband Yoon Suk Yeol in Prison as South Korea Corruption Scandal Deepens. South Korea's former first lady Kim Keon Hee has been arrested on corruption charges including bribery and stock manipulation, making this the first time in the country's history that both a former president and their spouse are simultaneously detained, as she faces allegations of receiving luxury gifts worth over £42,000 and participating in stock fraud schemes.
ENTERTAINMENT, SPORTS & LIFESTYLE
➡️ Australia's eSafety Chief Warns of Tech Giant 'Ground War' Using Famous Influencers Against Social Media Ban. Australia's eSafety commissioner Julie Inman Grant has warned the Albanese government of an imminent "ground war" by tech giants using famous influencers to fight the under-16 social media ban, which now includes YouTube and is set to begin in December, with companies concerned about losing advertising revenue from millions of underage users.
➡️ Simon Goodwin in Talks with GWS Giants for 2026 Role After Melbourne Sacking. Former Melbourne Demons coach Simon Goodwin is in discussions with GWS Giants about a coaching role for the 2026 AFL season, just eight days after his dismissal, with the move linked to his wife Kristine Brooks being based in Sydney's finance sector, while Nathan Buckley emerges as the leading candidate to replace him at Melbourne.
➡️ Dogs Emerge as Key Cancer Research Partners Due to Faster Tumor Development and Shared Environmental Risks. Researchers are increasingly using dogs as vital partners in cancer research because canines develop tumors faster than humans while sharing similar genetic pathways and environmental exposures, allowing scientists to test new treatments more quickly and use dogs as early warning systems for cancer-causing chemicals in communities like East Palestine, Ohio.
📖 I appreciate you taking the time to read! See you in the next issue. Got a question or criticism? Just click on Reply. We can talk while we are here.
🎧 Check out our podcasts. This podcast seeks the truth to answer the most pressing questions using the highest journalistic standards
✍️ Give us a press release and a good-sized landscape photo. Make sure it's newsworthy. Send press releases to newsdesk@readmencari.com or click here. Editorially, we may rewrite headlines and descriptions.
🚀 Got a news tip ? Contact our editor via Proton Mail encrypted, X Direct Message, LinkedIn. You can securely message him on Signal by using his username, Miko Santos.
The Mencari readers receive journalism free of financial and political influence.
We set our own news agenda, which is always based on facts rather than billionaire ownership or political pressure.
Despite the financial challenges that our industry faces, we have decided to keep our reporting open to the public because we believe that everyone has the right to know the truth about the events that shape their world.
Thanks to the support of our readers, we can continue to provide free reporting. If you can, please choose to support The Mencari.
Not ready to be paid subscribe, but appreciate the newsletter ? Grab us a beer or snag the exclusive ad spot at the top of next week's newsletter.
