ASX falls1.7 pct with retailers slammed
The Australian stock market has fallen sharply, with major retailers hitting multi-year lows on fears of rising fuel and freight costs.
Economy, Business and Finance
Miners lead ASX as market climbs 1.0 pct
The major miners have led the ASX higher, with iron ore prices rising as China reopens.
Albanese hits out at Liberal attack ads
Anthony Albanese has taken a swipe at prominent coalition attack ads during a speech to the Italian community in Sydney.
Big miners lead ASX higher at noon
The major miners are leading the market higher as iron ore prices rise as China reopens.
Viagogo loses appeal over $7m penalty
Viagogo has lost its bid to avoid a $7 million penalty for misleading consumers when reselling music and sports tickets in 2017.
Sluggish wage growth won’t stop rate rises
The Australian Bureau of Statistics said its wage price index rose by an annual rate of 2.4 per cent, less than half the rate of inflation.
Qld govt contract shortfalls cost millions
Queensland government infrastructure projects are blowing out by tens of millions of dollars due to poor contract management, the auditor-general says.
Morrison scoffs at suggestion of recession
Prime Minister Scott Morrison has rejected any suggestion Australia faces a recession given the unemployment rate is set to fall below four per cent.
Coalition targets public service cuts
Treasurer Josh Frydenberg and Finance Minister Simon Birmingham say the 35 policies announced by the government during the election campaign are fully costed.
Why are Queensland wholesale spot prices for electricity up 150% this year? It’s complicated
So far this year, average spot prices have been about 50% higher than last year and 150% higher in Queensland.
Health, resources key to Labor’s pitch
Anthony Albanese has visited regional Queensland to promote Labor's battery manufacturing plan, before travelling to the northern Brisbane seat of Lilley.
Tech stocks savaged as ASX drops 1.8pct
The ASX has fallen under 7000 points and hit a 14-week low amid carnage in the tech sector, which has suffered its worst single-day losses since March 2020.
Coalition commits $1bn for naval facility
A billion-dollar naval centre will be built to maintain Australia's warships, with Scott Morrison campaigning in regional NSW following alarming polling.
Battery tech firm builds own supply chain
An Australian pioneer in big battery systems is building its own local supply chain, as well as CSIRO-backed sovereign technology.
CBA Q3 profit steady amid margin pressure
Australia's biggest lender says volume growth has been offset by margin pressure in a competitive market.
Mask rules ditched for flyers in Europe
Australians travelling in Europe this northern spring will not have to wear masks on planes or at airports inside the EU, as COVID-19 restrictions ease.
Qld to set up new Public Trustee board
Queensland has passed laws to set up a new board to monitor the Public Trustee, but opposition and crossbenchers say the reforms don't go far enough.
Qld councils broke finance reporting law
Queensland's auditor-general says 60 per cent the state's local councils are at moderate or high risk of not being financially sustainable.
NSW premier commits to extra ICAC funding
NSW Premier Dominic Perrottet has pledged more funds to the states anti-corruption watchdog, hours after the prime minister launched new attacks on the agency.
Consumers brace for sharp rise in rates
The Westpac-Melbourne Institute monthly consumer survey showed a sharp drop in confidence as Australians brace for more interest rate increases.
ASX down 2.5 per cent in early trade
Roundup of ASX and finance activity. There will be a noon update, another at the close of the ASX and then a final wrap by 1730 (AEST).
Exporting the dollars: How Australian solar technology is making foreigners rich
Queenslanders are missing out on the jobs of the future because governments have not focused on making things in Australia.
Proposed grid reforms energise investors
Moves to redesign Australia's electricity grid to better support renewable energy projects have been welcomed by institutional investors in the sector.
Petrol prices up again despite tax support
Petrol prices are continuing to climb across Australia, with some cities paying more than 180 cents a litre as global factors undermine the cut in fuel excise.
Farmers fear resurgent mouse plague
Farmers are being urged to check paddocks for signs of mice amid reports of increased numbers of the rodents in the wake of extensive damage last year.
Swipe-free smartphone for the ages
Australian seniors who struggle with technology could benefit from a simplified smartphone, designed to prevent scam calls and messages.
Greens to call for young voter ‘uprising’
Greens Leader Adam Bandt says young people have to fight for their future as the party turns to first-time voters to strengthen their foothold in Canberra.
Cost cuts limit Westpac H1 profit drop
Competition and higher provisions have weighed on Westpac's first half results, with cash profit declining 12 per cent to $3.1 billion.
Three Star executives resign amid probe
Three Star executives have resigned in the midst of an inquiry into the company's fitness to hold a Sydney casino licence.
Dairy farmers ‘squeezed on milk prices’
Dairy farmers say they are being sent to the wall over milk prices, as one NSW farmer prepares to walk away from the industry because of increasing costs.
Hydrogen to fuel Gladstone jobs bonanza
A hydrogen and ammonia-producing plant coming to Gladstone will create nearly 2,600 jobs and propel central Queensland to becoming what the state government calls a “clean energy powerhouse”.