PM says minimum wage workers ‘should not fall behind’
Lowest-paid workers should not be going backwards and worker pay rises are not at odds with moderating inflation, the prime minister says.
economy, business and finance
economy, business and finance
electricity production and distribution
energy
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oil and gas - downstream activities
oil and gas - upstream activities
politics
‘Deliberate demand destruction’ stinging gas consumers
Western Australia faces an immediate gas supply risk triggered by the rush to run the nation on renewable energy, an audience of business leaders has heard.
Employers, unions at odds on wage call and inflation
Unions and employer groups have clashed on the annual review of minimum and award wages and its likely influence on still-above target inflation.
Rates on hold but RBA ‘not ruling anything in or out’
Interest rates have been left steady for another meeting and the Reserve Bank has kept its options wide open when it comes to future moves.
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coal
economy, business and finance
electricity production and distribution
energy
environmental issue
natural gas
politics
Relief for some as power prices drop, but not for all
Regulators have released draft recommendations on what consumers in Australia's east will pay to keep the lights on. One state will see a big drop.
Calls to heat up competition in nation’s postal sector
A tech start-up is pushing for Australia Post's delivery network to be opened up to private players, in a bid to drive competition and boost regional economies.
States in harmony on GST forecasts, discord on carve-up
Several state treasurers are calling on commonwealth officials to tell them how much GST they can expect for the next four years.
Product price hike fears over supermarket smash-up laws
An unlikely political alliance is stirring to push new laws that punish supermarkets for price gouging but the business lobby is warning of unintended outcomes.
Rate peak to buoy confidence and possibly home prices
Growing confidence that interest rates are going no higher and cuts may start later this year could improve consumer sentiment and home-buying activity.
Online shopping is forcing down prices by $1100 a year
Greater competition from online shopping is forcing down the price of some goods, research has found, and could have a bigger impact in the future.
Australians spend less, more often in online shop surge
Baby boomers are increasingly shopping online but have a way to go before out-spending their millennial children as cost-of-living pressures shrink baskets.
Extra paid parental leave welcomed but unions want more
An increase in paid parental leave to 26 weeks from mid-2026 has been welcomed but there are calls to further reform the scheme.
FTX fraudster Bankman-Fried deserves 50 years: lawyers
Sam Bankman-Fried, the man convicted of stealing $A12b from his now-bankrupt FTX cryptocurrency exchange, should spend up to 50 years in jail, a judge was told.
Tabcorp CEO resigns after alleged offensive comment
Tabcorp chief Adam Rytenskild says he doesn't remember making the alleged comment but is stepping down immediately.
From talk to torque: sovereign steel for solar economy
Manufacturer Orrcon Steel has joined forces with a global energy firm to supply torque tubes made from 100 per cent Australian steel for solar panel tracking.
coal
economy, business and finance
electricity production and distribution
energy
energy and resource
natural gas
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renewable energy
Clean energy investment slowdown threatens 2030 target
A record year for big batteries and love of rooftop solar is not enough to shake off coal generation and go largely renewable by 2030, the industry warns.
‘No care factor’ as banks abandon remote communities
Business owners are having to fly with bags of cash to city banks after a remote branch closed its doors, amid reports of robberies, scams and elder abuse.
Labor stumps up almost $1b for NT rare earths project
The federal government has continued its big spend-up in the Northern Territory with a funding package of up to $840 million for a rare earths mining project.
Hundreds of jobs axed with PwC to ‘simplify’ business
Big Four consultant PwC has made hundreds of jobs redundant and accelerated the retirements of more than 30 partners in an effort to streamline its structures.
Calls to end ‘problematic’ supermarket specials
Consumer group Choice has urged supermarkets to end the practice of offering further discounts only to customers who have signed up to membership schemes.
House prices surge in years since pandemic
House prices have risen by more than 30 per cent across Australia in the four years since the outbreak of COVID-19, a report has revealed.
Investment expert warns prices ‘rollercoaster’ possible
Unwinding pandemic effects will cause inflation to fall quickly, a key investment strategist expects, before supply shocks keep it higher over the long term.
Chinese ambassador says wine tariff review on track
The Chinese ambassador and the Australian trade minister are both hopeful a Chinese review into tariffs on Australian wine is moving in the right direction.
Farmers fear for future as supermarkets crunch costs
Large numbers of family farms will be forced to close because of low prices being paid for their produce by major supermarkets, an inquiry has been told.
WA ranked first, Vic last on economic performance: IPA
A new report has ranked states on their performance across 10 economic indicators, crowning WA as the nation's best performer while Victoria came last.
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state budget and tax
NSW, Queensland biggest losers in ‘absurd’ GST carve-up
Victoria and Western Australia are multi-billion-dollar winners in the latest carve-up of the Goods and Services Tax , which NSW has slammed as "absurd".
Coles faces competitive pressure from online retailers
The head of one of Australia's two big supermarkets says the sector is becoming increasingly competitive and online retailers are part of the story.
Climate assessment details grim risks for Australia
Australia's first climate risk assessment is grim reading and outlines the threats people could face if the nation fails to prepare well for what's ahead.
NSW loses $1.65 billion in GST revenue carve-up
NSW will be $1.65 billion worse off after its share of GST revenue was slashed from 92.4 per cent to 86.7 per cent - the largest single-year drop in 24 years.
Unpaid invoices surge as small business owners struggle
Businesses are feeling the crunch from cost of living pressures as new data shows payment defaults from business-to-business transactions are at record highs.
Businesses to save as government scraps tariffs
Hundreds of nuisance tariffs on everyday items like tools, clothing, dishwashers and more will be scrapped in a move that will save businesses millions.