Rupert Murdoch retires, hands over to son Lachlan after 70 year reign by Peter Ryan

Qantas chairman Richard Goyder is refusing to quit as big investors and consumers demand his head over the reputation crisis damaging the airline. In his first broadcast interview since the ACCC alleged Qantas sold fares for cancelled flights, Mr Goyder has conceded big mistakes were made but says new chief executive Vanessa Hudson is preparing to mediate with 1700 hundred ground staff who were unlawfully sacked. Mr Goyder spoke with the ABC's Peter Ryan.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Richard Goyder, Qantas chairman

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Despite fifteen years of guiding Qantas through crisis after crisis, it's looking as though Alan Joyce is heading towards an inglorious end - at least in financial terms.

The former Qantas chief executive is facing a potential "clawback" of his final payout .. if allegations that the airline sold fares for flights had already been cancelled are proven.

The OECD is warning that persistent inflation remains a major risk to the global economy along with deepening concerns about China's property market.

The Paris-based think tank has also confirmed tepid growth in Australia over the next year in line with a global slowdown, while warning that rebounding inflation would almost certainly more more interest rates rate.

The Reserve Bank has signalled that inflation remains a clear and present danger to the economy and another interest rate rise can't be ruled out. In considering whether to inflict another rate hike on households, the RBA Board noted that inflation was "still too high" and "was expected to remain so for an extended period".

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Michele Bullock, Reserve Bank governor

As Michele Bullock begins Day 2 as Reserve Bank of Australia governor, the image-softening campaign continues. First soft questions from a junior reporter as Ms Bullock walks in the front door of RBA HQ in Sydney, then a Youtube video where Ms Bullock explains how interest rates operate. May the communications revolution continue!

Malaysian renewables investor Gentari is eyeing solar, wind, battery and vehicle electrification developments in Australia to dramatically expand its renewables output by 2030. The Petronas green offshoot has already bought renewables company Wirsol for almost a billion dollars. Gentari's chief strategic communications officer Dheeraj Raina speaks with ABC's Peter Ryan about the company's global ambitions.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Dheeraj Raina, chief strategic commications officer, Gentai

"We sincerely apologise"

Three humiliating words from Qantas that underscore the enormity of the High Court loss which has handed the Transport Workers Union an unlikely, but hard-fought, victory after more than a decade of industrial warfare.

It's a far cry from October 2011 when then Qantas chief executive Alan Joyce grounded the entire airline — domestically and globally — in a brazen Saturday afternoon response to industrial action by three key aviation unions.

"We sincerely apologise" - Qantas accepts High Court loss after over unlawful outsourcings by Peter Ryan

In yet another critical blow to Qantas, the High Court has backed an earlier ruling the airline acted unlawfully by sacking 17-hundred ground services staff at the height of the pandemic. Dismissing the Qantas appeal, the High Court ruled in favour of the Transport Workers Union upholding a previous Federal Court judgement that Qantas had acted illegally in outsourcing the jobs of baggage handlers, cleaners as part of a commercial decision. Qantas has accepted the ruling, but the T-W-U is now demanding a spill of the entire Qantas board.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Don Dixon, former Qantas ground worker; Michael Kaine, national secretary, Transport Workers Union; Sally McManus, ACTU secretary; Tony Sheldon, Labor senator