U-turn: Ford takes $US19.5b hit, retreats from EVs
Ford is backing away from plans to manufacture large electric vehicles, citing lacklustre demand.
economy, business and finance
Business chief urges action on racism, anti-Semitism
The outgoing chair of one of the world's biggest commercial explosives makers has pointed to the Bondi massacre as an example of the need to "contain" racism.
Plea for spending cuts as banks tip interest rate hikes
Half of Australia's big four banks are tipping the Reserve Bank to hike interest rates at its next meeting as inflation is pushed outside the target zone.
Chalmers spins battery blowout into budget savings
Clever accounting has been used by the treasurer to claim the government's policy decisions improved the budget bottom line for the first time in eight years.
Penfolds owner’s earnings sour on China ‘grey’ wine woe
Shares in Penfolds owner Treasury Wine Estates plunged after it pointed to a fall in earnings due to problems in China and the US.
Dishing the public dosh to force RBA’s hand on rates
With the government unlikely to restrain public spending, the Reserve Bank will have to lift rates in 2026 to keep inflation under control, economists say.
Oscars to move to free streaming on YouTube in 2029
The Academy of Motion Picture Arts and Sciences has announced the Oscars will quit its links with a US broadcaster and move to YouTube in 2029.
Smelter’s future secured but cost to taxpayers unclear
Australia's largest aluminium smelter has been handed a government lifeline to ensure it keeps running beyond 2028 amid spiralling energy costs.
Mine site emissions new battlefield in coal climate war
Coalminers and environmentalists are clashing over a climate report on the sector finding net-zero emissions targets are unlikely to be hit at the current pace.
‘Not ready’: investors chop down deforestation action
National Australia Bank shareholders have rejected resolutions related to deforestation, but its chairman says he has concerns about the practice.
Price gouging ban will drive up costs: supermarkets
Lower grocery bills are being promised with a price gouging ban but supermarket giants and retailers say shoppers will be the ones to bear the brunt of costs.
Budget update to reveal Australia’s fiscal fortunes
The federal treasurer says he's booked another $20 billion in savings in the budget update, but is keeping mum on whether that means a smaller deficit.
Savings found in budget update as blowouts add up
Treasurer Jim Chalmers has revealed billions of dollars in savings as other projects in the budget blow out amid "grave" concerns over its bottom line.
Budget blowout ‘modest’ for Australia’s Olympic hosts
The mid-year budget report card has revealed a "modest" budget blowout as one state continues counting down to the 2032 Olympic Games.
Aussies skipping dental, medical care to afford rent
The housing crisis is changing the way Australians live with many revealing "heartbreaking" stories of struggle as they skip on the basics to make ends meet.
February is live: RBA warns of impending rate hike
The average mortgage-holder's repayments could soon jump an extra $90 a month, with another Reserve Bank interest rate hike on the cards as early as February.
Cheapest path to energy and climate goals locked in
Solar and wind firmed by storage and backed by gas remains the cheapest pathway to meet Australia's growing demand for electricity while reaching climate goals
Nvidia chip sales to China sparks US security concerns
Critics fear Donald Trump's decision to upend US policy by allowing Nvidia to sell its advanced AI chips to China will boost Beijing's military capabilities.
Mixed employment report won’t make RBA’s job any easier
Unemployment and jobs growth figures for November tell differing stories about the strength of the labour market, providing little clarity for the Reserve Bank.
Faster coal decline risks catching Australia off-guard
Demand for Australian coal exports might dry up faster than first thought, underscoring the need for rapid action to help mining communities prepare.
Tax reform call as data centre boom plugs in investment
A jump in forecast business investment in the midyear budget update will be unveiled by the treasurer, which bodes well for Australia's productivity growth.
Divided US central bank cuts rate, signals pause
The US central bank has reduced its key interest rate for the third time in a row but signalled that it may leave rates unchanged in the coming months.
Businesses spared rising costs as peace deal struck
Christmas has come early for businesses with a months-long impasse on workers compensation resolved, ensuring insurance premiums do not surge.
Myer hails Black Friday boom as top label nears return
Department store Myer achieved its biggest biggest Black Friday sale performance on record as it prepares to relaunch a fast fashion brand in Australia.
‘No value’: bank defends dropped no-deforestation plan
Westpac's agricultural customers were clear. Its stand against deforestation is of no value, so the bank dropped plans for a forest protection policy.
Belt tightening in order as federal payments balloon
More than $12 billion in program cost blowouts demand tighter spending in other parts of the federal budget, the treasurer is warning Australians.
Christmas rate relief off the table at last RBA meeting
The official cash rate is expected to remain on hold when the Reserve Bank decides on interest rates for the last time in 2025.
‘Climate obstruction’ alarms raised with museum sponsor
Ties between a state museum and a major gas company are being questioned by a climate communications group as scrutiny of fossil fuel sponsorship grows.
Japan lifts tsunami warning after 7.5-magnitude quake
Japanese authorities are warning of the heightened possibility of mega-quake for a week after a powerful tremblor hit off the coast of the main Honshu island.
Rate rise flagged as RBA does a Grinch with no Xmas cut
More rate relief for borrowers has essentially been ruled out by the Reserve Bank governor as the central bank mulls over when to lift rates again.
After review, USA going all the way on AUKUS pact
Penny Wong and Richard Marles have met their US counterparts with both nations labelling the AUKUS deal as "full steam ahead".