Leaders meet as wars and rivalries strain expanded bloc
BRICS leaders are meeting in New Delhi this weekend as wars in Ukraine and the Middle East and US -China tensions test the group's unity
economy, business and finance
Sea of red for miners, metals as Aussie market slumps
Mining stocks are getting hammered as surging oil prices and inflation worries weigh on commodity values and hopes for earnings and global economic growth.
Credit downgrade heaps pressure onto Queensland budget
On the same day as the Queensland treasurer lost his state's AA+ credit rating, his NSW neighbours received an upgrade to their outlook.
‘Profound’ increased death rate for welfare recipients
People on disability, unemployment or carers payments had an average mortality rate nine times higher than those outside the welfare system, a study has found.
China hopes to soon agree on tariff reductions with US
A Chinese government official says a deal with the United States to lower import taxes could soon be agreed.
Australian shares dive as market risks converge
The ASX faces a triple-front of market headwinds as the Iran war, surging bond yields and a strong Aussie dollar prompt investors to batten down the hatches.
Apple unveils passport-shaped foldable phone called Duo
Apple has unveiled its latest generation of iPhones including a version that folds over that it calls Duo.
Gas export project to stop dipping into domestic market
A major gas exporter says it will stop contracting third-party gas for overseas shipments, amid calls for an enforced domestic reservation.
Retail environment not that bad: industry veteran
Consumer sentiment is gloomy, the chair of IGA operator Metcash says, but shoppers are still spending because there hasn't been a jobs market shakeout.
One Nation rejects need to model proposed super changes
Barnaby Joyce has denied a plan to allow early access to super would worsen inflation, despite appearing to admit economists had not modelled the policy.
AI boom forecast as Australia’s biggest bonanza yet
The economic benefits of AI adoption are beginning to flow in Australia, with about 15 per cent of tasks and occupations set to be replaced by 2060.
‘Economically disastrous’: Hanson’s super policy panned
Allowing workers to divert a quarter of their super income to rent and mortgage payments won't pump up inflation, One Nation leader Pauline Hanson insists.
Developer hammered as staff stood down, projects paused
The business model of a crumbling development firm has been labelled strange and opaque, after workers were stood down and construction projects halted.
Five killed after Amazon cargo plane barrels off runway
At least five people are dead and three are critically injured after an Amazon cargo plane overshot a Miami airport runway and smashed into cars.
Investors undervaluing the life-changing power of AI
A high-profile futurist praises Australia's open mind to technology but says investors fail to appreciate the transformative power of artificial intelligence.
Miner digs deep to extend life of old copper operation
The South African owner of an Australian copper mine has bold plans to extend the depth of the asset after setting an ambitious production target.
Resource firms hit the gas on controversial project
Gas explorers and pipeline layers have enthusiastically outlined the vast potential of the controversial Beetaloo gas field at a resources conference.
‘No brainer’: tobacco tax-cut idea could crush crime
An economist has joined the call for a drastic cut to the tobacco excise, as the coalition pledges to slash the tax by 80 per cent.
Worse than 2007: productivity stat bad news for the RBA
Low productivity means Australia's economy is growing above its "speed limit", amplifying concerns the Reserve Bank will hike interest rates again.
Blanket bans on AI could cause ‘data centre panic’
Business peak bodies have cautioned against uniform rules for how data centres are powered, warning it could stifle investment in the technology.
Telstra system behind outage understaffed, underfunded
A system update that caused a widespread Telstra outage was not tested after coming back online, with the two technicians who made the change sent home.
Surprise GDP data ‘final green light’ for rate hike
Data centre investment and electric vehicle purchases are making it harder for the Reserve Bank to get inflation down as the likelihood of a rate rise firms.
Small-business owners, women worried about golden years
Australia has built one of the world's largest retirement saving pools, but many people worry they will run out of money to live on after they stop working.
Palmer seeks real estate in claim lawyer stole millions
Businessman Clive Palmer's former solicitor unlawfully took $34 million and used it to buy gold bullion and a large property portfolio, a judge has heard.
US irks G20 ministers by inviting Russia
Russia's finance minister has made a surprise appearance at the G20, while some US journalists have been denied access to the international economic forum.
Property market to face ‘deeper correction’, bank warns
Property prices in major capitals are set to fall even further, one of the big four banks has cautioned, following a further downturn in the last month.
IVF provider sees new life in stimulated cycle numbers
A fertility services provider has reported a sharp fall in net profit after fewer patients started new treatment cycles, but says the business is improving.
Iran dismisses Trump’s Kharg video as ‘laughable’
US President Donald Trump has shared an AI-generated video of claimed destruction on Iran's Kharg Island.
Pacific summit underway in Palau without key leaders
Anthony Albanese, Chris Bowen and Pat Conroy are leading Australia's diplomatic effort at this year's Pacific Islands Forum leaders meeting.
Nepal teams seek hundreds trapped in hydropower tunnels
Emergency workers in Nepal are racing to reach more than 900 workers trapped in hydropower project tunnels choked with mud and rock debris in the Himalayas.
Economic growth data next milestone for Reserve Bank
GDP figures will headline the week in economic data, while central banks in Canada and New Zealand will meet to set interest rates.