Qantas chairman Richard Goyder has conceded shareholders will vote down a key report on executive pay in a backlash against the airline's reputational crisis. Labor senator Tony Sheldon, a former Transport Workers Union chief, described the Qantas board as a "criminal gang" and says Mr Goyder needs to retire now rather than next year.

After months of anger and frustration, Qantas shareholders are about to have their say when the airline holds its annual general meeting later this morning.

The company's board is facing hostile questions on a number of fronts with the Qantas reputation in tatters after delayed and cancelled flights, lost baggage and allegations from the consumer watchdog that it sold fares for flights that didn't exist.

Also - my take on the final single from The Beatles - "Now and Then"

The US Federal Reserve.. the world's biggest central bank... has left its official interest rate on hold this morning for the second month in a row.

But that decision comes with something of an asterisk next to it, the bank's warning if inflation doesn't slow, there could be more interest rate hikes in coming months.

That decision comes ahead of Australia's Reserve Bank board meeting next Tuesday, with it potentially weighing up a decision to lift rates.

The world's biggest central bank has left its official interest rate on hold this morning for the second month in a row.

But the decision by the US Federal Reserve has a caveat - that if inflation doesn't keep slowing, there could be more hikes in the coming months.

The decision to "pause" comes as Australia's Reserve Bank prepares to consider a rate rise, potentially at Tuesday's Melbourne Cup Day board meeting.

As shareholders prepare to lash the Qantas board at Friday's annual general meeting, a study of 500 boards by Board Benchmarking shows 25pc are dysfunctional - and don't even know it. Qantas isn't singled out in the report but executive chairman Nicholas Barnett agrees Qantas is a key case study and the board will be under pressure to provide answers.

When you buy a ticket to travel on Qantas, you probably think you've bought a fare for a flight that has a pretty good chance of taking off and getting to your destination.

But that's not necessarily the case, according to the defence Qantas is using to answer allegations that it sold fares for flights that didn't exist.

Qantas is denying allegations that it sold tickets for flights that had already been cancelled but has conceded it let customers down and mistakes were made.The airline has denied profiting from delayed or cancelled flights and says the ACCC's case ignores the reality of the aviation industry that "airlines can't guarantee specific flights".

Reporter: Peter Ryan, Senior Business Correspondent

As borrowers brace for a possible interest rate rise next week on Melbourne Cup Day, major banks are urging customers already in mortgage stress to speak up.

The Australian Banking Association will today launch an advertising campaign telling distressed borrowers they don't need to "tough it out" - and banks are ready to help as they did during the height of the pandemic.

The ABC's senior business correspondent Peter Ryan speaks with ABA chief executive Anna Bligh.

It's now five years since the financial services Royal Commission uncovered a range of unlawful and unethical behaviour across the commercial banking sector.

But what lessons have been learned from Kenneth Hayne's key findings that major banks pursued profit ahead of the interests of customers?

It's now five years since the financial services Royal Commission uncovered a range of unlawful and unethical behaviour across the commercial banking sector.

But what lessons have been learned from Kenneth Hayne's key findings that major banks pursued profit ahead of the interests of customers?

No much, according to Peter Lock CEO of the mutual Heritage and People's Choice.