ASX falls 1.4pct with big losses for banks
It's been another brutal day for Australia's banks and non-bank mortgage lenders, with the financial sector on track for its worst week since March 2020.
Economy, Business and Finance
New home sales declined in May: report
The Housing Industry Association said new home sales fell by 5.5 per cent in May and further declines are expected as rising interest rates take hold.
Energy, miners lift ASX but big banks drag
The Australian share market has finished 0.36 per cent higher amid gains for oil producers and coalminers, while the big banks posted losses.
Lettuce prices expected to ease soon
A major lettuce producer says the cost of the leafy vegetable should ease soon, although consumers are being warned that produce prices will remain high.
War, pandemic behind phosphorous loss
Phosphorous, one of the world's essential resources in producing food, is under threat due to the pandemic and the war in Ukraine disrupting global supplies.
Fintechs Swyftx, Superhero in $1.5b merger
Brisbane-based crypto exchange Swyftx and Sydney-based low-cost share brokerage Superhero have agreed to merge into a single "superapp".
The rising cos of living: Why lettuces are so expensive
Lettuce prices are skyrocketing. Twitter users are posting photos of iceberg lettuces for A$10 and $11.99, well above the more usual $2.80.
coal
economy (general)
environmental politics
environmental pollution
global warming
politics (general)
Aust failing on coal mine methane: report
Methane emissions from Australian coal mines could be double official estimates, a new report says, threatening efforts to limit global warming to 1.5C.
Edict for gas storage amid energy crisis
Energy Minister Chris Bowen has instructed the Australian Energy Market Operator to procure and store gas to help avoid future energy crises.
Chalmers does not see risk of recession
Treasurer Jim Chalmers says he is not worried about the Australian economy going into recession, but he acknowledges inflation poses a major challenge.
RBA hike due to ‘significant’ inflation
The Reserve Bank of Australia board has raised the cash rate to 0.85 per cent from 0.35 per cent in the face of higher-than-expected inflation.
Renewables ambition solution to bill shock
Parts of Australia have avoided soaring power prices thanks to high levels of renewable energy as experts call for a faster national grid overhaul.
Albanese wraps up two-day Indonesia visit
Prime Minister Anthony Albanese has made a visit to the Indonesian port city of Makassar, ending a two-day trip to the Asian nation for leader talks.
Brewery says cheers to carbon-neutral beer
Australia's first carbon-neutral certified, alcohol-free beer adds a new element to ales that a brewer hopes customers will savour.
ASX falls 0.45 pct ahead of RBA meeting
The local bourse has mostly fallen ahead of a key decision on interest rates, but oil producers and coalminers gained with some hitting 52-week highs.
In Luhrmann’s Elvis biopic, a star is born
Actor Austin Butler's career-defining performance is the best thing about Baz Luhrmann's Elvis biopic, a film marked by extravagant styling and glitzy effects.
ATO says COVID tests could be a deduction
Taxpayers who took COVID-19 tests for work will be able to claim the cost on their tax return.
Airports defend operations during pandemic
Australia's airports say they are proud of how they held up during a brutal two years, after the ACCC accused them of making a "surprising" profit.
Treasurer contacts ACCC over gas prices
Treasurer Jim Chalmers says the government is reviewing a number of options to counter rising energy prices as inflationary pressures strain household budgets.
Aust premiere of Baz Luhrmann’s Elvis
Baz Luhrmann's biopic Elvis has premiered on the Gold Coast, with a crowd of hundreds watching the film's stars walk the red carpet.
Qld facing further electricity bill rises
The Queensland opposition is calling on the state government to intervene in the electricity market to lower wholesale prices, and household and business bills.
Home lending plunged 6.4 pct in April
Borrowing for housing fell 6.4 per cent to just under $31 billion in April, a much steeper fall than economists were expecting.
Qld govt eyes budget deficit under $1.7b
Queensland can expect a budget deficit under $1.7 billion in 2022/23, but the treasurer says it will be another two years before the books are back in black.
Ukraine, lack of policy, key to gas strain
The government will consider using whatever mechanisms are available to counter constrained gas supply on the east coast as price hikes begin to bite.
SA budget surges into the black
The South Australian government has forecast a budget surplus for the next financial year of $233 million, and more positive news across the forward estimates.
Tourism helps long run of trade surpluses
Australia's trade surplus was a larger-than-expected $10.5 billion in April as exports grew by one per cent, while imports declined 0.7 per cent.
economy, business and finance
electricity production and distribution
energy (general)
global warming
politics (general)
Qld govt denies electricity price gouging
The Queensland government has denied its two state-owned electricity generators are price gouging, saying bids on the market are merely covering costs.
Minister fuels up for gas price action
Energy Minister Chris Bowen is consulting with his state and territory counterparts about what levers can be pulled to ease burgeoning gas prices.
Queensland could cancel two gas leases
Arrow Energy's coal seam gas leases in the Scenic Rim of Queensland could be cancelled amid community uproar.
Power bills will be a challenge: Labor
The federal government says there's no immediate answer to rising power bills but it can support households through childcare support and wage growth.
ASX finishes May down 2.8pct on the month
The Australian share market finished May on a sour note, dropping 1.0 per cent with every sector losing ground and snapping a two-day winning streak.