Moody’s affirms Australia’s AAA rating
Treasurer Jim Chalmers has welcomed Moody's affirmation of Australia's AAA credit rating.
Economy, Business and Finance
Qld-NSW floods were 3rd costliest disaster
The unprecedented floods that swept through southeast Queensland and northern NSW earlier this year caused $4.8 billion in insured damages.
Sentiment lifts from the depths of despair
Consumer confidence has improved for a second consecutive week after a slump earlier in the month as a result of a large rise in interest rates.
Believe in RBA to avoid recession: Lowe
Australians must trust in the Reserve Bank's plan to lead inflation back down to regular levels, or risk triggering a recession, RBA governor Philip Lowe says.
Booze now, pay later apps prompt concern
Experts are worried people using buy now, pay later services for alcohol will lead to "financial hangovers".
Positive signs ahead for motorists
Easing global oil prices on fears of an economic slowdown could help motorists with their seemingly ever growing petrol bill.
Metcash lifts FY profit amid inflation
Metcash's full-year sales have risen 6.4 per cent to $17.4 billion, while underlying earnings jumped 17.7 per cent to $472.3 million.
Greens war on tax cuts ahead of budget
The Greens are going to war against tax cuts for higher earners that were locked in by the coalition, saying they have no place in Labor's first budget.
Qld expands grid storage with big battery
A new 400MWh battery in southeast Queensland is the latest in a series of announcements as the state government investigates more energy storage options.
Qantas flags bonuses, eyes fare increases
The airline is offering a one-off cash bonus to thousands of staff if an enterprise agreement can be struck as it prepares to increase fares.
Farmers join forces in environmental push
An Australian first farming mutual has launched focused on rewarding producers financially for the environmental improvements made to their land.
Queensland Government picks fossil fuel subsidies over energy storage
The Queensland government has prioritised coal and gas-fired generation over energy storage as it eyes dividends from the surging wholesale electricity market.
Barilaro temporarily blocked from NYC job
NSW parliament has blocked former deputy premier John Barilaro from taking up a $500,000 a year taxpayer-funded job in New York City until an inquiry is held.
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.
‘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.