Iranian gunboats fire on tanker in Strait of Hormuz
The US and Iran are locked in a stand-off over the Strait of Hormuz, with Iran reversing a move to reopen the waterway, firing on a ship attempting to pass.
economy, business and finance
Break in economic data keeps Middle East in focus
Traders will be hoping US President Donald Trump strikes a permanent deal with Iran to keep the Strait of Hormuz open as the clock ticks on a fragile ceasefire.
China-linked firm takes majority stake in Qld coal mine
Yancoal Australia is buying an 80 per cent stake in the Kestrel coking coal mine in central Queensland, Australia's largest underground coal mine.
Fewer flights, higher fares take off for Virgin flyers
Domestic passengers can expect to pay higher airfares for longer as another Australian carrier announces it is slashing capacity.
Job market yet to feel impact of Iran war, rate hikes
Australia's relatively low jobless rate has reinforced the Reserve Bank's view the labour market is still tight, adding to the case for more rate hikes.
‘Who gave you the right?’: villagers take on gas giant
Leaders from remote Papua New Guinea villages have turned up at a shareholders meeting of gas giant Santos to question the board about a controversial project.
Fresh fuel supply fears hosed down after refinery blaze
Australia will lean more heavily on fuel imports after a fire caused by a suspected gas leak ripped through one of the nation's two oil refineries.
PM cuts short Asian fuel mission after refinery fire
Anthony Albanese will return to Australia early from overseas following a major blaze at one of the nation's two remaining fuel refineries.
Warning for borrowers as RBA frets over its credibility
The Reserve Bank is worried about 1970s-style runaway inflation if it loses credibility in fighting inflation, as analysts warn of up to five more rate hikes.
Unions lobby to unlock fuel cap for workers who drive
Australia's peak union body is calling for fuel allowances for workers to be increased to help them meet rising costs at the bowser.
Qantas route cuts will hit hard for regional travellers
Australians in regional areas will bear the brunt of increased airfares and reduced services as Qantas cuts routes in response to increasing fuel prices.
RBA’s stagflation nightmare: prices up, confidence down
Consumer and business confidence has taken a dive following the Iran conflict, highlighting the Reserve Bank's dual fears of falling activity and rising prices.
Prince Harry honours veterans during solo tour day
The Duke of Sussex has paid tribute to the power of sport in helping veterans overcome trauma, as his wife Meghan made a surprise return to television.
‘Pretty severe’: warnings for Australia ahead of budget
One of the world's leading economic bodies has warned a global recession could be on the way if the Middle East conflict is not resolved quickly.
Chronic housing shortage heaps more pain onto renters
Australian renters are spending a record share of their income on housing costs as a chronic shortage of stock drives prices higher across the nation.
IMF cuts outlook, warns of potential global recession
An extreme scenario in which the Iran conflict lingers could push the global economy to the brink of recession, the International Monetary Fund says.
Brunei pledges to strengthen fuel supply to Australia
Prime Minister Anthony Albanese has wrapped up his visit to Brunei by sealing a deal with the country's sultan for fuel to flow to Australia.
Trump-style social media vetting a ‘phenomenal waste’
Coalition plans to screen visa applicants' social media have been criticised as unrealistic due to the huge numbers of people applying for entry each month.
Australia inks fresh fuel supply deal with Singapore
Australia's largest supplier of refined fuel will continue to provide petrol and diesel amid global uncertainty as part of a new agreement.
AMP leaders defend share price, tout AI future
There is no sideline position to take in the disruptive moment offered by artificial intelligence, the leader of an Australian wealth stalwart says.
Doubts over Lebanon, sanctions ahead of Iran peace meet
A US delegation led by Vice President JD Vance is in Pakistan to join Iranian government ministers and officials for peace talks.
More cost relief on table as Aussies asked to save fuel
The impacts of the energy crisis will likely continue even if a Middle East ceasefire holds, the government warns as it prepares to roll out an ad campaign.
Tourism funding boost to help cyclone-hit towns recover
Towns reliant on tourism will receive help to rebuild with a support package on its way for businesses rocked by Cyclone Narelle.
Richest state could fuel up for ‘tough’ times
A cashed-up state government could build its own emergency fuel reserve while still expecting to receive its cut of the national stockpile.
Trump threatens Strait of Hormuz blockade
President Donald Trump says the US Navy will immediately start a blockade to stop ships from entering or leaving the Strait of Hormuz.
Hungary PM Orban out after 16yrs in election earthquake
Hungary's nationalist leader Viktor Orban, a close ally of both Donald Trump and Vladimir Putin, has lost power after 16 years in office.
Peru election marred by delays as Fujimori leads count
Keiko Fujimori, daughter of former president Alberto Fujimori, narrowly leads Peru's national election - a vote hit by delays as it heads to a run-off.
Spoils of Iran war to deliver Chalmers a budget boost
The federal budget will be billions of dollars better off, even with added spending, because of higher commodity prices and inflation, a top economist says.
Iran threatens ports as US set to impose blockade
A showdown looms as the US prepares for a blockade of all Iranian ports and Iran warns that no port in the region will be safe if American forces carry it out.
Albanese seeks out fuel supply deal in Singapore visit
The prime minister is hoping an agreement with Australia's largest provider of oil can be reached as the Middle East conflict causes global volatility.
World economy counts cost of war as strait closes again
The economic costs of conflict are greater than severe natural disasters and can leave scars that last for a decade, the world's "financial firefighter" says.