Rate cuts on horizon in mixed 2025 for the economy
Borrowers can expect cashflow relief from interest rate cuts in 2025, yet a further deterioration in the jobs market will also start to be felt.
Economy, Business and Finance
Loyalty penalty costing power customers, warns ACCC
Energy consumers are paying more than they should be and the consumer watchdog wants households to force providers to compete harder by shopping around.
Drivers urged to ‘shop around’ as petrol prices surge
Australians are facing headaches at the petrol bowser and a national body has called for an investigation as costs surge in capital cities.
New year changes to boost payments and career options
Employers who underpay staff will be committing a criminal offence in 2025, while more than a million Australians will see changes to government payments.
Long flight to justice ends for sacked Qantas workers
The end of a protracted legal battle is being welcomed by workers illegally sacked by Qantas as they turn to rebuilding their lives after four years.
AGL weighs appeal of ‘significant’ $25m court penalty
An energy retailer is deciding whether to appeal a record court-imposed penalty in a case brought by the regulator for overcharging customers on welfare.
Aussie dollar, shares take a hit as US rate hopes fade
A surprise fall in the Australian dollar to around 62 US cents could put a dent in travellers' pockets over Christmas after US markets got the wobbles.
ANZ chief executive forfeits $1.5m bonus after outcry
The CEO of a big-four bank has forfeited a bonus worth $1.5 million after a backlash from shareholders upset about poor behaviour in its trading rooms.
Miners have ‘hands tied’ as earnings set to plunge
Mining companies are set to see their earnings plummet as commodity prices fall, resulting in lower tax receipts and bigger government debt.
Pharmaceutical giant sued over ‘ineffective’ cold drugs
Pharmaceutical giant Johnson & Johnson is facing a class action concerning cold and flu medication known to be "ineffective".
Activists want banks’ actions to match words on climate
Activists are heartened that Australia's big banks took steps to limit lending to fossil fuel companies this year, but also have questions.
Shaken Vanuatu hit by new quake as Aussies return home
Vanuatu has been hit by another earthquake as Canberra announced more financial assistance and hundreds of Aussies returned home.
Cost of giving diminishes Christmas joy
As families make cutbacks and sacrifices to save the spirit of Christmas, charities warn that many will face a bleak festive season devoid of celebrations.
Watching for doves in Reserve Bank’s Christmas reveal
A dovish tilt was detected in the Reserve Bank's last post-meeting comments, so traders will hope for more traces of an upcoming rate cut in its board minutes.
RBA says rate cuts coming soon, IMF warns on inflation
The Reserve Bank's interest rate settings are appropriate but the battle against inflation is not yet won, a check-up of Australia's economic health has found.
Halfway there: Australia on track for renewable goal
If current momentum gained in the six months is sustained then Australia can reach its 2030 renewable energy target, think tank research suggests.
Deficits dig deeper holes as cracks appear in budget
Australia is on track for a soft economic landing despite budget deficits set to widen as spending grows and tax receipts fall, Treasurer Jim Chalmers says.
Tragic end to waterfall search for missing tourist
Almost a day after an international tourist was reported missing, police have discovered the man's body at a waterfall in far north Queensland.
The women who could soon influence your mortgage
Two new faces will serve on the Reserve Bank of Australia's rate-setting board, with the government defying calls from the coalition for continuity.
GP payroll tax, first homebuyer stamp duty scrapped
A state government has fulfilled more of its election promises by scrapping a "patient's tax" and stamp duty for first-home buyers.
Westpac shareholders question bank’s climate plan
Westpac shareholder activists have questioned bank executives about how its climate change policies will be applied.
PM rubbishes Dutton’s nuclear energy plan as ‘farcical’
Anthony Albanese has poured scorn on Peter Dutton's "farcical" nuclear plan and questioned the Liberal leader's claim it would lead to cheaper energy.
Through dagwood dogs or hot wings, country shows unite
The man behind one of the biggest agricultural fairs in the US is set to visit Australia, sharing wisdom on everything from Pluto pups, to pigs and parking.
Borrowing blowout tipped in mid-year budget update
The federal government is expected to reveal a downgrade to its budget forecasts in its mid-year fiscal update as Australia's tax sugar-rush fades.
Mining export slump puts federal budget in the doldrums
Economic headwinds from China has sparked a major downgrade to Australia's budget position, limiting the government's ability to support struggling households.
‘Sense of urgency’: extra social homes fast-tracked
Funding an extra 5000 social properties through a partnership with the community housing sector will help get more people into homes sooner, advocates say.
Bank chief doubts trade-war risk will cancel Christmas
The Ghost of Christmas Yet to Come has visited the RBA deputy, revealing little chance of the global economy plunging into another Depression.
Value of Australian homes may drop in early 2025
Australian home values could dip in early 2025 but a drop in interest rates is expected to send buyer demand up again.
Wanted: one million Aussies, Kiwis to learn AI skills
Microsoft wants to train at least one million Australians and New Zealanders in how to use AI tools over the next two years as part of a worldwide push.
Insurance giant sued over ‘loyalty tax’ on policies
A class action has been filed against NRMA Insurance's parent on behalf of millions of customers allegedly ripped off on home and contents insurance policies.
Myer brings in body cameras, radios to keep staff safe
Mid-market department store Myer is beefing up security in its stores to protect workers and reduce the amount of theft.