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Bank of Queensland has begun consulting with employees as it prepares to axe as many as 600 roles across its retail operations and other units, as part of a simplification and digitisation drive, according to sources.

Meanwhile, Australia’s biggest renewables project, SunCable, has won environmental approvals from the Albanese government, with the Mike Cannon-Brookes-backed development set to produce enough power for three million homes. 

And the cost of a comfortable retirement has climbed almost 20 per cent in just five years, forcing some older Australians to rethink the size of their nest egg, says the Association of Superannuation Funds of Australia which estimates couples now need $73,337 a year to retire.