Latest news with #DavidKoch
Sky News AU
09-07-2025
- Business
- Sky News AU
Cost of living crisis triggering worsening mental health issues for millions of Australia as RBA denies further mortgage relief
Almost half of Australians admit cost of living pressures are impacting their mental health as millions were denied further relief earlier this week when interest rates were held. Fresh research from Compare The Market found 48.7 per of Australians now experience or have heightened feelings of anxiety or depression due to money pressures. Gen Z was faring the worst with price pressures as 72 per cent of respondents to the comparison site's survey reported mental health strain over money woes. Millennials followed with about 56 per cent saying they felt mental health challenges over cost of living pressures, while 48 per cent of Gen X and 29 per cent of Baby Boomers reported the same. Compare The Market's economic director and former Sunrise host David Koch noted the mentally debilitating impact cost of living pressures had particularly on young Australians. 'For many, it feels like an uphill battle to pay rent, bills and groceries, afford to socialise, and try to have savings for a home deposit when almost everything is climbing up,' Mr Koch said. 'But don't let money stress control you. Please reach out to your family, friends or a counsellor if you need help. 'There are financial hardship assistance programs available from many insurers, energy providers and home loan lenders, too.' It comes after the Reserve Bank of Australia denied mortgage holders what would have been the first consecutive interest rate cuts since 2020. The additional cut would have reduced monthly mortgage repayments for a household with a $600,000 loan by $90, while those with a $1m mortgage would save $150, according to A lower cash rate would have improved borrowing capacities for prospective buyers, but this may have been counteracted by higher property prices. REA Group senior economist Anne Flaherty said the shock rate hold would weigh on household budgets and may slow price growth seen after the February and May cuts. 'For many, affordability constraints continue to weigh heavily, as many households grapple with stretched budgets,' Ms Flaherty said. Compare The Market's report showed one in five Australians reported the onset of anxiety or depression which they had never experienced before. More than a third of respondents said they were sleeping less due to money stress, while nine per cent said the pressures had strained their marriage or romantic relationships. Alongside this, about four per cent said fiscal pressures had strained their relationship with their children, nine per cent said it impacted their relationship with their parents and nine per cent said they could no longer afford to socialise as much. Mr Koch urged Labor to continue its cost of living relief measures as Aussie households battle with tight budgets. 'Immediate bill relief is essential, but the country cannot survive on band-aid solutions,' Mr Koch said. 'It's critical that the government delivers its election promises and longstanding economic reform to set Australians up for a brighter future.'
News.com.au
07-07-2025
- Sport
- News.com.au
‘A bit too much': Willie Rioli's shock revelation after threat ban fallout
Port Adelaide forward Willie Rioli has revealed he almost quit the game after being caught sending threats to opposition players but he's stayed to continue to champion the cause of indigenous players. Rioli was suspended for a game in May and hit with fines after revelations of a social media threat to Western Bulldogs defender Bailey Dale with a further two instances of similar aggression to opponents coming to light. He earned support from Port chairman, David Koch, who suggestion Rioli was subjected to 'culturally insensitive' remarks, which was shot down by the Bulldogs in a war of words between the two clubs. It was putting Port in the spotlight for the wrong reasons, and the fallout from the incident moved Rioli to contemplate walking away. 'Definitely it gets to a point where it's a bit too much sometimes,' Rioli told Port's club podcast, Peeled. 'And yeah I have spoken to my manager and the club a couple of times about walking away from the game, which I am not shy to talk about. 'More so ... trying to not be putting any more pressure on the club. Get them out of the spotlight as well, in terms of not have to deal with my issues so much as a person off-field.' Remarkably, Rioli even said he took a 'bit of the blame' for a drop off in indigenous player numbers, a feeling dating back to copping an 18-month suspension for tampering with his marijuana-tainted urine sample while at West Coast. 'I do hold a bit of blame myself a little bit for some of the stuff I have been through, in terms of clubs not trusting Indigenous players,' he said, declaring righting that wrong, and improving perceptions was why he's still playing. 'I felt that was my driver to come back to footy ... be the light in terms of 'we can go through this'. 'I look at the drop in terms of Indigenous players in the competition ... that gives me the motivation to stick around longer, to help the next generation do better than what we are doing or what I am doing. 'I want the next (Indigenous) generation to be better than what we are right now. 'And I want them to have their confidence to make mistakes and not be judged by their mistakes.'
News.com.au
07-07-2025
- Sport
- News.com.au
Port Adelaide's Willie Rioli nearly walked away from the game during fallout from player threat ban
Port Adelaide forward Willie Rioli has revealed he almost quit the game after being caught sending threats to opposition players but he's stayed to continue to champion the cause of indigenous players. Rioli was suspended for a game in May and hit with fines after revelations of a social media threat to Western Bulldogs defender Bailey Dale with a further two instances of similar aggression to opponents coming to light. He earned support from Port chairman, David Koch, who suggestion Rioli was subjected to 'culturally insensitive' remarks, which was shot down by the Bulldogs in a war of words between the two clubs. It was putting Port in the spotlight for the wrong reasons, and the fallout from the incident moved Rioli to contemplate walking away. 'Definitely it gets to a point where it's a bit too much sometimes,' Rioli told Port's club podcast, Peeled. 'And yeah I have spoken to my manager and the club a couple of times about walking away from the game, which I am not shy to talk about. 'More so ... trying to not be putting any more pressure on the club. Get them out of the spotlight as well, in terms of not have to deal with my issues so much as a person off-field.' Remarkably, Rioli even said he took a 'bit of the blame' for a drop off in indigenous player numbers, a feeling dating back to copping an 18-month suspension for tampering with his marijuana-tainted urine sample while at West Coast. 'I do hold a bit of blame myself a little bit for some of the stuff I have been through, in terms of clubs not trusting Indigenous players,' he said, declaring righting that wrong, and improving perceptions was why he's still playing. 'I felt that was my driver to come back to footy ... be the light in terms of 'we can go through this'. 'I look at the drop in terms of Indigenous players in the competition ... that gives me the motivation to stick around longer, to help the next generation do better than what we are doing or what I am doing. 'I want the next (Indigenous) generation to be better than what we are right now. 'And I want them to have their confidence to make mistakes and not be judged by their mistakes.'
News.com.au
06-07-2025
- Business
- News.com.au
Kochie warns RBA rate cut gamble could backfire
Prominent analyst David Koch has warned of shock fallout tied to the Reserve Bank's rate cut gamble come Tuesday. Mr Koch, who is comparison firm Compare the Market's economic director, said their research had found nearly half of Aussies were now reporting mental health struggles due to financial stress – with not just homes now on the line but also health, sleep and relationships. Mapped: Owners of Aus' trashed islands named Cash-strap student turns $40k to 38 homes Mr Koch said the stakes were high, with pressure on the RBA to cut rates given it has the green light off signs of inflation easing. 'For many, it feels like an uphill battle to pay rent, bills and groceries, afford to socialise, and try to have savings for a home deposit when almost everything is climbing up.' A recent study by Compare the Market found 48.7 per cent of Aussies were experiencing heightened anxiety or depression because of financial pressures, with a shocking 72pc of Gen Z respondents affected, followed by Millennials and Gen X. One in 5 said they were experiencing anxiety or depression for the first time ever, with a third losing sleep over finances, and half of relationships under strain – from socialising less to marital tensions. A cut could slash a much needed $105 off monthly repayments for an average $660,000 loan – keeping an extra $1,260 a year in the homeowner's pocket – but Aussies have bigger issues at hand. 'When rates started to rise back in 2022, the hikes came through thick and fast but I think it's going to take a lot longer to reverse that growth,' Mr Koch feared. 'The Reserve Bank has taken a watch and wait position for the past few years and I don't think they are ready to hit the gas just yet.' 'There's a chance they might deliver some relief at the next board meeting, and my take is that they probably should take the 'green light' – we've made good progress on inflation, after all.' 'The May monthly Consumer Price Index was released on Wednesday, and the Reserve Bank would have loved it … all the key inflation measures slowed, and they slowed more than expected.' 'The latest retail sales figures show household budgets remain tight with consumers keeping a tight rein on spending which is impacting retailers and hospitality businesses.' 'But despite all of these positive signs, anything could happen. There's still a possibility the RBA will disappoint homeowners by remaining parked while weighing up whether to take off some more pressure later in the year.' Foreign investor's abandoned island for sale Mr Koch said if the RBA fails to deliver relief on Tuesday, homeowners could deliver their own rate cut by seeking out a better deal. 'There can be a 0.5pc difference between cheapest advertised rates on Compare the Market's home loans panel so you can effectively create your own rate cut by shopping around.' 'And that's just looking at rates for new customers, which we know are often much more enticing than the rates available to older customers who have not refinanced in a number of years.' 'If you've paid down your loan, and your property has increased in value, chances are you've improved your position to negotiate even better rates.' 'Remember – if you have a good track record, a solid credit rating, and consistently make repayments, the banks want your business.' 'It only takes a few minutes to run a quick comparison and look for a better rate. When switching could save you thousands over the life of your loan, you really can't afford not to check.'
ABC News
02-07-2025
- Sport
- ABC News
Phil Walsh's death a decade ago shocked and united footy fans divided by their Showdown
If further proof were needed of the pride South Australians take in their Showdown, one place to search would be the everyday speech of the state's football faithful. Among Adelaide and Port Adelaide fans, certain phrases have passed into popular usage, and attest to the intensity of the passion for the AFL's most celebrated cross-town rivalry. The mere mention, for example, of the words "Dawson goal" and "Monfries bounce" is enough to evoke episodes of high drama — the first, a swerving after-the-siren free kick that secured an astounding victory for the Crows; the second, a wicked deviation in the ball's trajectory that turned a match in favour of the Power. But perhaps the high watermark of Showdown mischief occurred off the field in October 2014 when, on early morning television, then-Sunrise presenter and Power powerbroker David Koch broke the news about the man the Crows had selected as their next senior coach. As Port Adelaide chair, Koch was ideally placed to know that the Power's then-assistant coach Phil Walsh, whose two stints at Alberton amounted to more than 10 years of service, had been wooed by the Crows to fill the vacant role. "We feel very flattered that the Crows come to us for their senior coach," Koch told his Channel Seven audience, several hours before the Crows made their official announcement. Walsh's death — which occurred 10 years ago today — remains a rare event in the history of the AFL. When Crows supporters woke on the morning of July 3, 2015 to the news that their club's coach had been fatally stabbed in his own home at Somerton Park, the shock and anguish were both immediate and palpable. The sombre mood was starkly at odds with the excitement and buoyancy that had accompanied the media conference that followed Walsh's appointment to the Crows' top job nine months earlier. "First of all I'd like to thank my family for the support they've given — I hope one day to be able to repay them," said the then-54-year-old, who was candid about the challenge ahead of him. In a tragic turn of events, Phil Walsh, 55, died from multiple stab wounds after a domestic dispute at his Somerton Park home in the early hours of July 3. His son, 26-year-old Cy Walsh, was charged with murder. Cy Walsh was later found not guilty of murder by reason of mental incompetence, with a judge determining that he had been suffering a psychotic episode as a result of undiagnosed schizophrenia. But in the immediate aftermath of Phil Walsh's death, legal proceedings seemed almost an afterthought. Instead, one of the most noticeable and spontaneous effects of the shock was the solidarity it induced between the Crows and Power supporter bases. Usually the most bitter of rivals, both felt the blow directly and personally. South Australia is a place where football matters, and Adelaide is the archetypal two-team town. Melbourne has nine clubs (or 10, including Geelong), and the media's gaze is divided between all of them accordingly. But in Adelaide, where both local sides are subjected to almost perpetual attention, the smaller size of the population has at times seemed to intensify fans' feelings of connection to the teams and their players. The death of Test cricketer and South Australian state team player Phil Hughes during a Sheffield Shield match the previous spring had triggered national as well as international mourning, and the #PutOutYourBats social media trend in honour of the fallen prodigy had spread around the world. But Walsh's tragedy was, in a sense, Adelaide's own. "I got a phone call at 3:30am from the police to say that a tragedy had unfolded and that it involved Phil Walsh, our coach," said Crows chairman Rob Chapman at the time. "That's a phone call no-one ever wants to get." Inspired by #PutOutYourBats, local football fans embraced a #ScarvesOutForWalshy campaign. When the state's then-premier Jay Weatherill paid his respects, he very deliberately acknowledged the impact of the grief on both Adelaide teams. He singled out supporters of the Crows but made a point of extending that sympathy to "everyone who has associated with Phil throughout his career, including his time at the Port Adelaide Football Club". Further indications of the shared sense of loss were the floral and other tributes that were piled outside the Crows' West Lakes headquarters. Among the flowers, sympathy cards and memorabilia, the team's red, yellow and blue could clearly be seen mingling with the Port's black, white and teal. Nine months earlier, when he had cheekily revealed Walsh's move to the Crows, David Koch had done so in his capacity as a TV personality. Now, amid the flowing tributes, he spoke with statesmanlike dignity. "Phil was a much-loved friend of the Port Adelaide Football Club, having played an instrumental role in our 2004 Premiership campaign," Koch said solemnly. "Equally, our thoughts and prayers are with the players, coaches and staff of the Adelaide Football Club." A decade on, Power coach Ken Hinkley retains fond and vivid memories of Walsh both on and off the field, and this week spoke of his "knowledge and the brilliance of his mind, which was amazing in a football sense". "The players who played under Phil would say there was no stone unturned when it came to being ready to play football, and I'm sure the blokes who had him at the Crows as well, in a short period of time, would all say exactly the same," Hinkley said on Wednesday. "It's a sad moment that he's not with us, clearly." Distinctions are often made between sport and the so-called serious things in life. Football is indeed a game, but it isn't only a game, and the reaction to the loss of Phil Walsh remains proof of that fact. But it is proof of a kind that South Australian football fans hope never to encounter again.
