Telstra Boss Defends Pay Rise Amid Job Cuts and Outage

Telstra's boss, Vicki Brady, has defended her 11% pay rise.

The company cut 1,200 jobs and had a big outage in July.

The ASX is trading lower due to many company results.

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The ASX 200 is down 0.7% in early trade.

Only the small utilities sector has made gains.

The big retailers are all out of favour.

Telstra has shed 3.4% on results, dragging down other telcos.

The miners are generally softer on falling commodity prices.

Gold miners Northern Star and Newmont are up 1.6% and 1.8% respectively

The ASX 200 top mover is Cleanaway Waste Management (+15.4%).

The bottom mover is the local listing of the US aluminium giant Alcoa (-6.8%).

The market likes what it saw in ANZ's Q3 earnings update.

ANZ's cash profit was better than expected, driven by lower costs and impairments.

The bank returned to system growth in home lending.

Questions remain on whether ANZ can profitably lift growth.

Telstra has announced an additional share buyback of up to $1 billion.

The company reported a 3.2% rise in annual profit, driven by growth in its mobile business.

Origin Energy has reported full-year net profit of $1.57 billion.

The underlying profit fell 22% to $1.16 billion but still beat analysts' estimates.

Transurban has reported a doubling in full-year profit to $432 million.

The full-year dividend was 69 cents per security, a 6% increase on the year before.

ANZ chief executive officer Nuno Matos says the transformation of the bank is progressing well.

The bank was on track to meet key targets in terms of costs and returns on equity.

ANZ has posted a 1% increase in Q3 cash profit to $1.9 billion.

The cash profit was up around 1% on the quarterly average over the first half of FY 26.

ANZ makes note that mortgage application value in 3Q26 was broadly flat compared with 2Q26

However, excluding the federal government's 5% deposit scheme, home loan application values were down 5% quarter on quarter.

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