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.
Economy, Business and Finance
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.
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.
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.
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.
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.
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.
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.
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.
Market operator steps in to avoid power blackouts
Australia's eastern states are facing blackouts, with the energy market operator forced to intervene.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.