Budget figures reveal Qld housing pressure
There is little relief for those at the bottom of Queensland's housing market, with state budget figures showing how hard it is to find a stable home.
Economy, Business and Finance
‘Diabolical’ energy situation closes Enova
Enova Community Energy and its retail energy arm Enova Energy have been placed into voluntary administration, a victim of what they say is a "broken market".
‘R-word’ not on RBA governor’s horizon
Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.
AEMO looks to end energy market suspension
The suspension of the national electricity market could end as soon as this week, under a path forward by the market operator.
‘Reform’ budget for NSW ahead of election
After more than a decade in power, the NSW coalition government has delivered a "transformational" budget as it prepares for an election in nine months.
Qld budget ‘back in black’, taxes to rise
Queensland Treasurer Cameron Dick will hike taxes on big businesses, gambling companies and coal miners to fund more hospital beds and mental health programs.
Energy markets give everyone a headache
Some say Australia's National Electricity Market is broken and are demanding a whole of system review. Others believe only some timely repairs are required.
Planned $100b overhaul of industrial heart
Emissions could be slashed from refineries, gas pipelines, steelworks and other industries under a $100 billion plan backed by Australia's biggest companies.
‘Worst pressures’ of energy supply over
As the government reassures Australians pressure is easing on the power grid, there are questions over the speed of the transition to renewables.
Energy supply sufficient for weekend: AEMO
Supply issues facing Australia's electricity market have improved, with the market operator saying demand will be able to be met this weekend.
Meltdown worsens with 1.8pct drop for ASX
The ASX has dropped to a 19-month low after its sixth straight losing session and worst weekly performance since March 2020.
Coal mine brings great harm, opponents say
Lawyers for opponents of a massive coal mine proposed for Queensland say the project would have an economic benefit but also bring about "very profound harm".
BHP plans to shut Mt Arthur mine in 2030
BHP says it will stop operations at its Mt Arthur coalmine in NSW's Hunter Valley after plans to sell the operation failed.
‘Get through tonight’: NSW to save energy
A number of NSW coal-fired power stations remain offline and residents of NSW will need to conserve power so the state can get through the night.
Minimum wage rise the right decision: PM
Despite business concern over a rise in the minimum wage in Australia, Prime Minister Anthony Albanese says the move was the correct one.
Supply tight, but blackouts likely avoided
Anthony Albanese's government is monitoring the energy situation closely to determine what changes need to be made to improve how the market operates.
US central bank hikes by 75 basis points
The US Federal Reserve has approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation.
Qld to invest $15m in battery testing
The Queensland budget will include $15 million for battery testing, while Treasurer Cameron Dick has not ruled out lifting fees and charges.
Above inflation wage increase for lowest paid
The 5.2 per cent increase for the country's lowest-paid workers was necessary to deal with rising grocery and fuel prices, with inflation sitting on 5.1 per cent and set to go to six per cent by the end of the year.
Court approves $8.9b Crown takeover
The federal court has approved Blackstone's $8.9 billion takeover of Crown Resorts, with James Packer to receive more than $3b from the deal.
A super profits tax on Australian gas? We already have one, it just doesn’t deliver
Australian oil and gas producers have had to shell out 40% of their profits in tax, in addition to 30% company tax on profits, for years. And yet the amount collected is tiny: $2.4 billion.
Rising rates send confidence reeling
Consumer confidence has tumbled to multi-year lows in the face of sharply rising interest rates, but low paid workers may gain a lift from a large pay rise.
WA warns east coast to set up gas reserves
Power supply jitters and rising electricity costs in the eastern states are being watched closely in Western Australia, which has avoided the emergency.
Aussie crypto buffs brace for more carnage
Australian crypto traders expect the market will decline further after a sudden plunge on Monday, but that doesn't mean they're giving up on Bitcoin.
NSW energy outages possible as prices soar
NSW could face blackouts on Tuesday evening as the cold affects electricity supplies and the energy minister admits the sector is facing huge challenges.
Australia promises Ukraine export support
Trade Minister Don Farrell has chaired a meeting of 19 agricultural export countries, agreeing to push the World Trade Organisation for reform to the sector.
Farmer confidence wanes
Farmer confidence is declining according to the latest survey, with increasing input costs and the war in Ukraine impacting Australia's agricultural sector.
Australian home values top $10 trillion
The value of Australia's residential housing stock has topped $10 trillion for the first time, Australian Bureau of Statistics data shows.
Market operator steps in to avoid power blackouts
Australia's eastern states are facing blackouts, with the energy market operator forced to intervene.
Qld warned of possible power outages
The Australian Energy Market Operator has issued an alert warning for possible blackouts in Queensland, saying demand for electricity may exceed supply.
Bowen confident blackouts to be averted
A major power crisis along the east coast has been avoided with the intervention of the regulator and cooperation of industry, Energy Minister Chris Bowen says.