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Former Qantas CEO Alan Joyce will have his 2023 pay from Qantas reduced by almost $9.3m as the airline commits to implementing all 23 recommendations from its governance review.

The decision by the Qantas board follows months of contemplation about the bonuses earmarked for Mr Joyce and other executives, which were withheld after a string of controversies in 2022 and 2023.

Meanwhile, the boss of toll road operator Transurban says NSW’s directive for the state’s public servants to return to the office could see a lift in traffic running across its road networks. Transurban controls nearly all of Sydney’s toll roads, including key motorway arteries the M4, M5 and M2.

And the Reserve Bank “will not hesitate” to lift interest rates again if needed to stop inflation from becoming “persistently high”, governor Michele Bullock has warned.