Nadine Blaney

I mean, this is starting to be a bit structural, isn't it?

And we'll be back in a moment with the rest of the day's business news.

One Nation has recorded a resounding victory in the Farah by-election, the seat vacated by former Liberal leader Susan Lee.

It is the first time the coalition has lost the seat in nearly 80 years.

Sean, we've been watching the rise of One Nation in the polls, and now the party has two members in the Federal House of Representatives, David Farley, who won the vote on Saturday, and Barnaby Joyce, who of course defected from the Nationals.

I will imagine that they'll be running pretty hard with that coalition one nation line.

But you've got to think that this is a wake up call for all major parties.

Now, the national housing market does not look healthy with the preliminary clearance rate over the past week falling to 56.5%.

That's the second lowest level this year behind the Easter weekend.

There has been a flurry of new listings across the country as well, with the number of houses going to auction 27% higher than a year ago.

Now, Macquarie Group on Friday in corporate news reported its second biggest annual profit with its commodities and markets division and asset management business boosting earnings to $4.8 billion.

So is this a classic under-promising over-delivering that Macquarie Group is known for?

It's incredible.

It's like a lottery ticket, but they do that every year.

Amazing.

In other corporate news, Kohl's, I thought this was really interesting, is investing in the Ozempic economy, tailoring its home brand products for the increasing number of consumers using GLP-1 weight loss treatment.

So its chief executive, Leah Weckert, was at the Macquarie conference, and she said that there's a large opportunity for Kohl's for supermarkets in health-conscious shoppers.

So since the pandemic and the arrival of GLP-1 drugs,

She says some of the fastest growing categories have included nutritional supplements and fresh produce.

Yeah, well, I guess they have to meet the market or if people are eating less, they won't be selling as much.