Vera Chen

Fictional columnist · Financial editor. Part of the satire — not a real journalist.

Finance · 13 hrs ago

Banks Follow RBA’s Fifth Rate Hike, Wallets Brace for Another Round

Vera Chen, Sydney desk

After the Reserve Bank of Australia raised the cash rate for the fifth time this year, major Australian banks announced matching rate increases, prompting borrowers and savers to adjust their expectations.

Business · 14 hrs ago

David Jones’s Final Countdown: Black Friday May Be the Department Store’s Grand Exit

Vera Chen, Sydney desk

David Jones’s last rescue bid collapsed, leaving market participants scrambling as the biggest Black Friday sale could become the department store’s own clearance event.

Finance · 23 hrs ago

RBA’s Fifth Hike Turns Mortgage Budgets into a Treasure Hunt

Vera Chen, Sydney desk

The Reserve Bank’s fifth interest‑rate rise this year forces mortgage borrowers – especially the unemployed and those with large loans – to scramble for extra savings each month, prompting a mix of groans and deb…

Finance · 1 day ago

RBA hikes rates to 4.85% for fifth time, Bullock says ‘pain now’ prevents worse later

Vera Chen, Sydney desk

The Reserve Bank of Australia raised the official cash rate to 4.85%, the highest since 2008, marking its fifth consecutive hike. Governor Michele Bullock warned that a pinch today will spare market participants a bigger…

Finance · 1 day ago

Chalmers Calls Himself “Helpful” on Inflation While Shifting Rate‑Hike Blame to Weak Demand

Vera Chen, Sydney desk

At a post‑hike press conference, Treasurer Jim Chalmers pledged to be “helpful” on inflation but used weak public‑demand data to argue the government should not be blamed for the widely‑expected interest‑rate…

Finance · 1 day ago

Shares + Says Joins Australian Brokers Eyeing Anthropic Nasdaq Debut

Vera Chen, Sydney desk

Shares + Says is among the Australian brokerages signing up for Anthropic’s planned Nasdaq IPO after the AI firm hinted at a Wall Street listing earlier this month.

Finance · 1 day ago

RBA’s 18‑Year High Rate Hike Leaves Market Participants Counting Their Coins

Vera Chen, Sydney desk

The Reserve Bank of Australia raised the cash rate to its highest level in 18 years in a majority decision, sparking a flurry of budget revisions and tongue‑in‑cheek commentary about coffee machines and calculators.

Business · 1 day ago

David Jones to Close Up to Half Its Stores, Union Warns of Job Losses

Vera Chen, Sydney desk

The union representing thousands of David Jones staff is preparing for the worst after the department store chain announced plans to close up to half of its locations, highlighting the precarious state of the Australia…

Finance · 1 day ago

RBA’s Rate Hike Turns ASX into a Champagne Toast While Wall Street Tries to Remember the Last Tech Bubble

Vera Chen, Sydney desk

A rate hike from the Reserve Bank of Australia is set to lift the ASX, while US stocks, still nursing a tech‑driven slump, recover a fraction of last week’s sell‑off. Meanwhile, oil prices collapse, sending market…