ASX suffers worst week in two months amid US debt drama
The Australian share market has finished up 0.2 per cent for the day, but closed the week down 1.7 per cent after losses from Monday to Thursday.
economy, business and finance
Biden says debt deal ‘very close’ ahead of new deadline
US President Joe Biden is expressing optimism about reaching a deal on the country's debt ceiling, while the default deadline has been extended by four days.
Economic momentum starting to ebb across all states
All states and territories are experiencing worsening economic performance led by a slowdown in consumption and home building activity.
PwC referred to police over confidential disclosure
PwC has been referred to police by the Treasury Secretary after it shared confidential government policy to try and drum up business.
Woolies ice-cream sandwiches recalled over metal risk
Woolworths is recalling its WW Cookies & Cream Classic Ice Cream Sandwiches after metal was found inside.
‘No jobs in the bush’ myth busted but housing critical
The regional jobs market is booming at three times the metropolitan rate but the lack of housing, health care and education remains a major barrier.
All signs point to lower economic growth than usual
The national economy is tracking toward a contraction in activity, with the patchy performance expected to continue into next year.
Albanese, Modi seek to score runs on migration, energy
Prime Minister Anthony Albanese and Indian counterpart Narendra Modi have agreed to work together on people-to-people links and clean energy.
More than 40,000 modern slaves trapped in Australia
At least 50 million people are trapped as modern slaves in exploitative work or marriage conditions across the world, with about 40,000 in Australia alone.
Government eyes tougher response to PwC scandal
The federal government remains under pressure to ban contracts with consultancy giant PwC after the firm leaked confidential government information to clients.
budgets and budgeting
consumers
economy, business and finance
electricity production and distribution
energy
politics
Power bills to surge despite budget tipping modest rise
The energy regulator has confirmed double-digit power price rises will continue from July 1 despite the May budget's claims of curbing cost of living pressures.
Farming export success linked to sustainability
Australian producers are increasingly being asked to prove their sustainability with export sales dependent on growers being able to back up their claims.
Qantas reports sky-high profit and plans more flights
Australian flag-carrier Qantas will soon be operating more domestic flights that it did before the COVID pandemic, while international capacity is also rising.
Business SA backs tax cut for regional companies
South Australia's peak business group has called for regional companies to get a payroll tax discount in the upcoming state budget.
economy, business and finance
energy
environmental issue
international (foreign) trade
natural gas
oil and gas - downstream activities
oil and gas - upstream activities
politics
Gas the ‘main game’ as firms join political battle cry
The boss of Santos has backed Opposition Leader Peter Dutton's calls for the gas industry to stand up for itself as a key player in the energy transition.
ANZ closed flood-ravaged rural bank due to $1m rebuild
ANZ executives have been accused of treating regional Australians with "disgust" and paying lip service to government inquiries.
Rural Australians told to look beyond big four banks
Community banking could be an alternative for rural communities, where the big four banks are increasingly shutting their doors.
Aerospace firm wins approval for rocket fuel facility
Black Sky Aerospace will build a one-stop facility to research, test and build rockets after receiving government approval for a site in southern Queensland.
Wages rising but not fast enough to worry the RBA
Wage growth over the March quarter is unlikely to trigger further interest rate hikes, with pay packets rising yet failing to keep pace with inflation.
Banks leaving rural Oz despite billion-dollar future
The inquiry into the closure of bank branches across regional Australia is set to hear from major banks, Queensland farmers and councils.
Gas claims ‘ludicrous’ as energy transition fires up
The oil and gas industry is refusing to be a casualty of a net-zero world, insisting it is part of the solution in a "realistic" national strategy on supply.
Borrowers to be squeezed as latest rate hikes land
Borrowers will have little cash to spare once the latest interest rate increases take effect, with further hikes not ruled out.
More interest rate rises still on the cards, RBA says
The Reserve Bank's decision to lift rather than pause interest rates was close but the risk of inflation sticking around nudged it towards another increase.
Tight jobs market expected to drive strong wages growth
The latest wage price index is expected to reveal a further acceleration in pay packets, which could have an impact on interest rate hikes.
Energy savers centre stage in Chalmers budget roadshow
Treasurer Jim Chalmers says low-cost loans for clean energy upgrades are at the heart of his government's cost of living support for middle Australia.
Industry maps ‘net-zero’ future for gas supply, exports
Nine industrial zones to "carpool" emissions and give gas a long-term role in the economy have been mapped by the industry with help from CSIRO scientists.
No, the budget does not make further interest rate rises more likely
The great budget challenge for Treasurer Jim Chalmers has been to deliver help to Australians struggling with cost-of-living pressures without adding to inflation. So has the government achieved that aim?
Federal opposition calls for boost in welfare threshold
The opposition have called for the limit to how on how much welfare recipients can work before their payments are reduced by the government.
Green hydrogen proponents pumped on vote of confidence
Plans for renewable hydrogen produced with Australian-made electrolysers are closer to commercial reality after the federal budget chipped in $2 billion.
Dutton urges betting ad ban in family-focused reply
Peter Dutton has used his budget reply speech to call for a crackdown on sports betting ads, while saying the government is fuelling cost of living pressures.
Dutton urges migration rethink to ease cost pressures
In the wake of his budget reply speech, Opposition Leader Peter Dutton is stepping up criticism of Labor over the pressures of higher migration levels.