In breaking news, Woolworth chief executive Brad Banducci has announced he's retiring and will leave the company in September.

Mr Banducci has been Woolie's CEO for eight years and will be replaced by Amanda Bardwell.

He's leaving in the wake of growing scrutiny over supermarket prices and practices that put him under pressure in a Four Corners interview earlier this week.

The much-anticipated sharemarket listing of Virgin Australia looks uncertain this morning after the sudden resignation of the airline's chief executive Jayne Hrdlicka.

Her exit took many observers by surprise given that her role was seen as critical in resurrecting Virgin after it went to the brink of collapse at the height of the pandemic.

BHP's half year profit plunges by 86pc to US$927 million as impairments from the Samarco dam collapse in Brazil and a crisis in its WA nickel business weigh on the mining giant's bottom line. BHP chief executive Mike Henry says it could take until the end of the decade for nickel supply and demand to correct.

Bluescope Steel CEO Mark Vassella says progress is being made on decarbonisation while working with BHP and Rio Tinto on a pilot project to investigate Electric Furnace Technology. But Mr Vassella warns not to rush to "de-industrise" before there's full confidence about renewables.

Has your pay packet been feeling any heavier over the past year - but it's been eaten away by inflation?

Well, we might get a positive update on Wednesday when official wages growth figures are released.

Also - growing concern about the future viability of the nickel mining industry as the Federal Government steps in to prop it up given glut from Indonesia.

Two of Australia's biggest insurance companies have posted bumper profits today as policy holders struggle with the higher cost of living continue to be smashed by surging premiums. Both IAG and QBE acknowledge the consumer pain but IAG boss Nick Hawkins warns warning insurers need to remain highly profitable to pay out claims for increasingly frequent weather events and natural disasters.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Nick Hawkins, IAG chief executive

Rising jobless rate threatens resilient economy as consumers spend up on gyms, cruises and Taylor Swift

Caption: Cracks are appearing in Australia's economy with the unemployment job rising to 4.1 percent in January.

Economists previously optimistic about resilient jobs market now see greater pressure on the Reserve Bank to cut interest rates. Commonwealth Bank chief economist Stephen Halmarick says despite the pressures, cautious consumers are spending up on gym memberships, cruises .. and Taylor Swift.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Stephen Halmarick, Commonwealth Bank chief economist; Michele Bullock, RBA governor

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Depending on your point of view .. there's just been some good news on the economy.

The official unemployment rate has ticked higher to 4.1 percent for the first time in two years.

For some analysis .. I'm joined now by the ABC's senior business correspondent Peter Ryan.

We'll get another snapshot on the health of the economy when official employment figures are released later this morning.

The jobless rate is expected to tick slightly higher - but will that be enough to convince the Reserve Bank the economy is slowing enough to consider interest rate cuts?

Also, Telstra reveals a billion dollar half year profit on the back of strong mobiles growth.

Commonwealth Bank boss Matt Comyn on "fairly resilient" economy but flags uptick in arrears by Peter Ryan