‘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.
Economy, Business and Finance
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.
Second electricity crunch looming in Qld
The Australian Energy Market Operator is likely to again have to order Queensland electricity generators to fire up their plants to avoid blackouts.
ASX falls 3.6pct to close at 16-month low
The local share market has suffered its worst losses since 1 May 2020, and is now down 7.3 per cent in June.
Retrial for jailed Qld financial adviser
A former Queensland financial adviser accused of swindling $6 million from clients to invest in a South Australian abalone farm has had his conviction quashed.
Mensink loses contempt of court appeals
Clive Mensink has lost two appeals over contempt of court proceedings brought when he failed to attend court to be questioned about Queensland Nickel.
Hundreds of Vic tradies to upskill on EV
A Victorian pilot program will see 500 electricians trained on how to install and maintain electric vehicle charging stations.
Turnbull urges gas price, volume limits
As the federal government weighs up its options to deal with the energy crisis, a former prime minister says decisive action is needed in the gas market.
Firms face ‘cost of doing business’ crisis
Small businesses are feeling the pinch from rising energy costs, with confidence dropping during the past six months, particularly among young business owners.
ASX suffers worst week since October 2020
The local share market has closed at its lowest level in 14 months following three sharp declines in the past four days.