Productivity to dominate agenda as symposium begins
After weeks of build up, arguably the biggest event of Australia's economic calendar is set to begin as the government seeks answers to withered productivity.
economy, business and finance
‘It’s crunch time’: productivity puzzle must be solved
Australia must cut unnecessary red tape and boost business investment if young people are to be better off than their parents, the productivity chief says.
‘Ruthless’ sacking of staff lands Qantas with $90m fine
Qantas has vowed to rebuild trust after the embattled airline was fined $90 million for illegally sacking more than 1800 ground staff during the pandemic.
Real wages boost for workers, but costs might worry RBA
Strong annual growth in wages will be noted by the Reserve Bank as it collates data leading up to its next decision on whether to cut interest rates.
CommBank’s record $10b profit could’ve been bigger: CEO
Commonwealth Bank could have delivered a better result than its $10 billion profit if it weren't positioning itself for AI revolution, its boss says.
Animals may be ‘threatened species’ after algal bloom
An assessment of the devastation to marine animals caused by an unprecedented algal bloom will be fast-tracked by the federal government.
Coal mine project threatens ‘significant’ koala habitat
A drone investigation by conservation groups and ecologists has found an important koala colony living in the path of a proposed coal mine expansion.
Jobless fall gives RBA room before next rate cut
The unemployment rate slid to 4.2 per cent in July, partly because of an unwinding from an earlier, outsized jump, the Australian Bureau of Statistics reports.
Liquid gas investment inflates Origin Energy’s profit
Profits are up for Australia's largest energy company despite challenges from the price of coal, energy tariffs and power plant uncertainty.
NBN users gorge on fibre for healthier download speeds
Technology upgrades are transforming how Australian's connect to the internet, as the NBN Co's full-year results show many premises are using fibre.
Rebooted plastic scheme could hike groceries cost
Consumers could face higher prices for goods wrapped in soft plastic as plans for a much-anticipated recycling scheme are revealed.
Rates cut but borrowers told not to bank on more relief
The cash rate has been cut to its lowest level in more than two years, as the Reserve Bank resisted the temptation to wrong-foot analysts twice in two months.
Unions push back on productivity plan for schools, jobs
Fresh fault lines have formed in the lead up to the government's reform roundtable as unions reject productivity proposals welcomed by businesses.
US and China extend tariff truce by 90 days to November
The US and China have extended their trade truce until November 10, just hours before a jump in tariffs had been set to take effect.
Price floor sends rare earths shares through the roof
Shares in rare earths miners are soaring as the federal government indicates its support for a taxpayer-funded minimum price for the electronics ingredients.
Titan submersible disaster was preventable: Coast Guard
A US Coast Guard investigation has concluded that the Titan submersible implosion, which killed five people on the way to the Titanic wreck, was "preventable".
US trade deficit narrows amid drop in consumer imports
The US trade deficit narrowed in June on a sharp drop in consumer goods imports.
Australia to take ‘sensible, middle path’ on AI control
Artificial intelligence has emerged as a potential answer to Australia's dwindling productivity but concerns have been raised over its impact on workers.
Modi to visit China for first time in seven years
Donald Trump's unpredictability appears to have helped China and India overcome their niggles, with Indian Prime Minister Narendra Modi planning a visit.
US memo urges countries to reject UN plastic caps
Hopes for a "last-chance" ambitious global treaty that tackles the full life cycle of plastic pollution have dimmed.
Novo Nordisk warns of layoffs as pressure mounts
Danish pharmaceutical giant Novo Nordisk, Europe's most valuable company, is eyeing potential cost-cutting measures.
Plan to lift GST must come with lower income tax burden
A bid to strengthen the budget and improve productivity could increase the tax burden on Australians unless a balanced approach is taken, an economist warns.
Trump says he plans 100pct tariff on computer chips
US President Donald Trump says he's imposing a 100 per cent tariff on computer chips for companies that don't make them in America.
Trump’s higher tariffs hit goods from trading partners
Donald Trump's higher import taxes on goods from more 60 nations are taking effect.
Trump’s higher tariffs spark defiance and concern
US President Donald Trump's higher tariffs on imports from dozens of countries have kicked in.
‘Struggling more than ever’: Debt reaches six-year high
The number of Australians seeking help with debt has reached a record high as housing stress and utility costs weigh on budgets.
Australia and New Zealand embrace in ‘uncertain world’
Regional security and global uncertainty are dominating discussions during annual talks between Anthony Albanese and his New Zealand counterpart.
‘More gruelling, precarious’: climate biting workforce
From disrupted trucking routes to teaching in hot classrooms, the changing climate is already being keenly felt by Australian workers.
Rates take back seat to affordability for home buyers
Interest rates might be weighing less on Australians' decision to buy or sell a property, with affordability now ranked as the leading influence.
Mortgage holders ready for relief after past rates blow
The Reserve Bank of Australia board is expected to deliver mortgage holders more hip-pocket relief in its upcoming interest rates decision.
Hopes RBA won’t repeat shock rates hold as board meets
The "Trumpification" of the US Federal Reserve provides an unsettling backdrop to the Reserve Bank's August meeting, where it is expected to cut interest rates.