Gloomy backdrop for first Albanese budget
The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.
Economy, Business and Finance
Inflation higher for longer: Treasury
Inflation is going to hang around for longer due to persistently high energy prices and floods in southeast Australia, Treasury forecasts say.
Fifth losing week out of last six for ASX
The local share market has finished down 0.8 per cent for the day and 1.2 per cent for the week, its seventh losing week out of the past nine.
Murdoch, Crikey fail in defamation stoush
Media mogul Lachlan Murdoch and news publication Crikey have both unsuccessfully attacked each others' pleadings amid a hotly contested defamation lawsuit.
Floods put growth forecasts at risk
Flooding in NSW, Victoria and Tasmania will add almost 10 per cent to the price of fruit and vegetables at the supermarket.
Qld’s Acland coal mine gets water licence
The Queensland government has granted a water licence to New Hope Group for the expansion of its New Acland coal mine, allowing it to start work on the project.
Australia’s COVID-19 response was overreach
Australia’s response to COVID-19 exacerbated existing inequalities within the society, according to an independent review, which urges that “overreach” be avoided in dealing with future such crises
A lack of Truss: Questions over Conservative Party system that chose unpopular British PM
Choosing the leader of the Conservative Party is strictly speaking a matter for the Conservative Party. This is fine when in opposition. When in government, a change of leader means a change of prime minister.
Tesla confirms electric trucks for 2022
Tesla has revealed plans to launch one electric truck and begin producing another amid bold predictions from Elon Musk that the company will out-perform Apple.
Vic plan to revive public energy ownership
Almost all of Victoria's energy will come from renewable sources by 2035, and state ownership of power assets will be revived if Labor is re-elected next month.
‘Dog act’ Medibank hack details revealed
The federal cyber security minister has warned attacks on large companies could become more common, after an incident at Medibank.
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Qld missing 20,000 rental homes: summit
Optimism for the federal budget, 20,000 missing rentals and an immediate stocktake of land holdings have been discussed at Queensland's housing summit.
Regions set for big NBN budget boost
The federal government says a $2.4 billion investment to upgrade NBN fibres will deliver high-speed internet to almost 700,000 regional premises.
Tax cuts to cost $11b more than estimate
The federal treasurer says the controversial stage three tax cuts will cost billions more than previously thought as the government faces calls to scrap them.
Iron ore railcars to be made in WA
More iron ore rail cars will be made in Western Australia rather than overseas in the latest manufacturing commitment in the state.
New home building activity drying up
Builders still have a record amount of work on their plates but new activity is easing back, according to the Australian Bureau of Statistics.
Origin Energy upgrades outlook on gas gain
Origin Energy has upgraded its outlook as gas earnings surge amid the global supply shock, with Australian power bills set to rise into 2024.
BHP ‘well-positioned’ for more uncertainty
Amid tricky global conditions, mining giant BHP is backing itself to win long-term from the mega-trends of decarbonisation and electrification.
Chatbots on the rise but failing customers
Chatbots will be used for 95 per cent of online customer interactions within three years, but a study shows they're failing to meet expectations.
Qld to probe short-term rental home market
The Queensland government has launched a probe into the state's short-term rental market ahead of a housing crisis summit later this week.
Toyota sued over popular diesel vehicles
Toyota is facing a class-action lawsuit in Australia over emissions from some of its most popular diesel vehicles including Hi-Lux, LandCruiser and RAV4.
Floods to push up price of fruit and veg
Consumers are being warned they're likely to pay more for fruit and vegetables in the wake of flooding across eastern parts of Australia.
Star Sydney licence suspended, $100m fine
The NSW Independent Casino Commission has fined Star Entertainment a record $100 million and suspended the gaming licence for its Sydney casino.
Govt defends big road and rail spending
The federal government hopes a near-$10 billion infrastructure investment won't do more to drive inflation as it prepares for October 25's budget.
NSW ‘short-changed’ in federal cash splash
The federal government is pledging $9.6 billion to boost road and rail infrastructure across Australia, but NSW says it has been short-changed.
‘It’s time’: NSW Labor prepares for 2023
NSW Labor leader Chris Minns has promised a fresh start for the state if his party wins in March after nearly 12 years in opposition.
PM hails parental leave to Labor faithful
Australian families will get an extra six weeks of paid parental leave under a policy designed to improve gender equity and help with the rising cost of living.
ASX jumps after Wall Street’s wild ride
Australian shares have finished up 1.75 per cent after a whipsaw session on Wall Street, which staged one of the biggest one-day reversals in its history.
Inflation still ‘public enemy number one’
The inflation dragon is still breathing fire as the treasurer says higher-than-expected US inflation will have implications for Australia.
Uber’s Aussie buy prepares for US launch
Australian start-up Car Next Door will be rebranded by Uber and launched in America in a bid to shake-up car rental and ownership in a new market.
New standards for more connected energy
New rules and technical standards for home and business energy systems are being developed as regulators catch up with consumers and technology.