BHP’s climate transition ‘more than window dressing’
Resources giant BHP has defended the carbon footprint of its mining operations even as demand for traditional commodities and future-facing products expands.
economy, business and finance
PM lays down budget challenge on coalition cuts
After reports the coalition has identified up to $100 billion in budget savings, Anthony Albanese has urged Peter Dutton to explain where they would be made.
Inflation steps down but ladder still steep for RBA
A mixed set of inflation numbers are unlikely to move the needle for the Reserve Bank as it weighs interest rates and persistent price pressures.
It’s bad news for Nine as profits plunge amid cost cuts
The fractured advertising market continues to hit media revenues with Nine Entertainment full-year profits falling almost a third to $134.9 million.
Woolies registers big profit discount, says prices down
Sales are up at Woolworths but writedowns on its New Zealand stores and drinks business have a taken a huge slice out of its $1.7 billion operating profit.
Fortescue ‘doubling down’ on green iron despite leaks
Mining giant Fortescue pledges to create a green metals industry grounded in Australian ore and renewable energy, after pulling back on championing hydrogen.
Gas pipes supply solid cash flow in energy transition
Gas pipeline operator APA has posted a stronger full-year profit amid an expansion and urges more domestic gas production to support an end to coal-fired power.
Meeting minutes to show RBA dancing to its own beat
Markets will turn their attention to the Reserve Bank's latest board meeting minutes but they might be better off looking further afield for new insights.
Servo chain Ampol slashes dividend, fuel volumes fall
Energy company Ampol has slashed its interim dividend on lower fuel volumes, tanking its share price, but signalled a return to normal at its refinery.
BlueScope backs Port Kembla steelworkers amid downturn
A major steelmaker warns of tough conditions as it braces for rising electricity, gas and labour costs amid a stubbornly soft home building market.
Rate-cut hopes hit brick wall as RBA cements stance
Borrowers are being warned to not bank on any short-term relief on their mortgages as the RBA talks down hopes of an interest rate cut in 2024.
Mixed jobs data gives RBA more food for thought
Record jobs participation will keep the Reserve Bank wary of cutting rates, despite unemployment rising in July to the highest level since November 2021.
Building costs in the frame for ongoing housing crisis
The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.
Cost question remains after Qld deal with Rio Tinto
The Queensland government has struck a deal with mining giant Rio Tinto to keep a major aluminium smelter open but the question of cost remains.
Origin Energy eyes gas imports, longer life for Eraring
Electricity and gas giant Origin Energy warns Australia will need to import gas to meet domestic demand and taxpayers may have to pay to burn coal for longer.
Telstra open to Foxtel Group sale, profit drops 12.8%
Telstra CEO Vicki Brady has cautioned that News Corp's decision making around selling Foxtel, of which the telco owns 35 per cent, was in its early stages.
‘Confusing’ jobless rise likely to stay RBA’s hand
The jobless rate edged up slightly to 4.2 per cent in July, official figures show, but record participation will keep the Reserve Bank wary of cutting rates.
‘Four for four’: Chalmers celebrates wages growth
Workers are still experiencing stronger wage growth than pre-pandemic but average pay rises have peaked and are expected to keep moderating.
Broadband speed boosts slow NBN Co’s path to profit
More copper connections have been replaced with faster fibre over the past year, NBN Co has revealed, but the broadband boost proved expensive.
Shareholders still cash in as CBA profit slips to $9.5b
Commonwealth Bank's net profit after tax was down six per cent to $9.5 billion in 2023/24 but Australia's biggest bank is increasing its dividend.
Profits plummet at Kerry Stokes’ Seven West Media
As Seven West Media contends with allegations of a toxic workplace culture at its television network, profits plunge 69 per cent to $45 million.
Transition ‘well under way’ as AGL rejects nuclear push
Energy giant AGL has posted a stellar profit on higher power prices, taking the lead in the transition and dismissing nuclear as too costly and too late.
CFMEU crackdown laws lodged as calls mount to go harder
CFMEU officials who attempt to disrupt the work of external administrators have been threatened with heavy penalties, but not everybody is happy with the laws.
Property market picking up in smaller capital cities
REA Group's CEO says property listings in Melbourne and Sydney might marginally decline in 2024/25, but Brisbane, Adelaide and Perth are showing growth.
News Corp flags potential Foxtel buyer, rise in revenue
Foxtel could change hands with owner News Corp revealing a potential suitor for the pay-TV operator along with a rise in revenue for the American conglomerate.
Senator, insurer clash over cyclone ‘price-gouging’
A major insurer has been accused of making big profits during natural diasters at an inquiry into the impacts of climate change on the insurance sector.
Buyers hover as administrators plot course to save Rex
Embattled Rex has received significant interest from potential buyers, administrators say, as the regional carrier battles to stay in the air.
Wages, job data in focus for clues on economy, rates
New data on wage growth and demand for workers will be in focus this week, as borrowers await clues on when the central bank might cut interest rates.
RBA governor pours cold water on talk of early rate cut
The central bank says inflation remains too high and warned it could hike again, keeping the spotlight on government efforts to fight inflation.
New battery crackdown after 50 blazes this year
E-bikes and e-scooters will have to meet new battery standards in coming months in one state, after a spate of difficult-to-contain fires.
No plans to change state’s public service WFH policy
Public servants in Queensland will maintain work-from-home arrangements after the premier quashed any changes to the flexible policy.