Higher taxes to hit multimillion-dollar super balances
Australians with more than $3 million in their superannuation accounts will receive less generous tax breaks under changes due to come into force in 2025.
economy, business and finance
Economic growth softens amid higher interest rates
Official national accounts figures show easing economic growth as nine interest rate hikes start to weigh on household budgets.
Home price slide loses momentum as new listings tighten
The downturn in housing prices appears to be easing but experts say it's too soon to say if it's bottoming out or has further to fall.
Adani rebuffs report of fundraising against Aust assets
Adani has rejected as "totally false and untrue" a report that it plans to raise hundreds of millions in debt against some of its Australian assets.
Retail sales bounce back after festive season slide
Retail turnover has improved after a softer-than-expected result in December largely attributed to evolving holiday spending patterns.
Australia risks losing race for carbon competitiveness
Some want emissions safeguards expanded to cover more industrial plants as a step towards an economy-wide carbon limit and price, but others warn of job losses.
Business profits rebound but outstrip wages bill
Australian company profits have bounced back after dropping off steeply last quarter, with business inventories returning a softer-than-expected result.
Corporate profits fuelling inflation, research finds
New analysis challenges the narrative that workers need to accept sluggish wage growth to tame inflation and says business profits are driving higher prices.
Torres Strait alarm over foreign fishing ‘invasion’
Fishermen in the Torres Strait Islands say their traditional livelihoods are being threatened by foreign vessels and commercial mainland boats.
Treasurer says super caps a ‘tweak’, not major reform
Treasurer Jim Chalmers says the fundamentals of super will remain untouched and his floated changes to tax breaks on large balances are not controversial.
Star raising $800m after $988m hit on Sydney casino
Star Entertainment is raising $800m at a deep discount as the casino company looks to bounce back from twin $100m fines and a possible big tax hike in NSW.
Business investment upbeat in final months of 2022
Easing supply bottlenecks and a robust pipeline of work fed into a strong 2022 final quarter for investment activity, the Australian Bureau of Statistics says.
Disadvantaged students ‘set up to fail’ without support
Liberal senator Sarah Henderson warns university students from disadvantaged backgrounds will be doomed to fail without more targeted support.
Investors query coal leader’s climate change trajectory
Fresh research casts doubt on the climate pledges and expansion plans of Australia's largest coal producer Glencore as global investors seek answers.
BHP cuts lower quality coal mines, chases NSW on costs
BHP's profit, earnings and dividend have taken a hit on lower iron ore prices and cost pressures but the mining giant is upbeat as trade with China warms up.
Reserve Bank eyed jumbo hike to interest rates
Sticky inflation remains front of mind for the Reserve Bank, with the board considering another oversized interest rate hike at its last meeting.
economy, business and finance
energy
energy and resource
environmental politics
industrial production
iron and steel
metal and mineral
mining
natural gas
politics
Industry maps net zero pathway with safeguard uncertain
Industry, government and financiers need to invest more than $20 billion per year for the Australian economy to expand without dangerous levels of pollution.
Aurizon, TGE ink $1.8b ‘game changing’ partnership
Team Global Express and Aurizon have signed an 11-year contract, one that Aurizon says is its biggest non-coal deal ever.
Westpac halts rural closures amid political pressure
Westpac says it will postpone closures of rural banks during a Senate inquiry, the second major bank to heed calls to act in good faith.
Watchdog won’t probe fraud allegations against Adani
Australia's corporate regulator will not launch a formal investigation into alleged misconduct by the Adani Group due to the age of the accusations.
RBA governor sticks to the script on future rate rises
Not spooked by an unexpected uptick in the headline jobless rate, the Reserve Bank has stuck with its hawkish stance on interest rates.
Savers need to keep pressure on banks: RBA
Savers should switch to more competitive rates if banks aren't passing on cash rate hikes, the head of the Reserve Bank of Australia says.
Jobs market weakens as economic headwinds loom
Official labour force data shows the unemployment rate lifting unexpectedly but there's still plenty of heat left in the jobs market.
CBA lifts half-year profit but braces for slowdown
Australia's biggest lender has lifted its half-year cash profit by nine per cent and its interim dividend by 20 per cent to $2.10 a share.
RBA boss says it’s unlikely interest rates have peaked
It's unlikely the cash rate has peaked at 3.35 per cent, the Reserve Bank boss has warned, without offering any indication of how many more to expect.
Mortgage holder rates pain ‘disturbs’ Reserve Bank boss
The Reserve Bank governor has acknowledged the pain felt by mortgage holders but says getting on top of inflation will prevent more rate rises and job losses.
FMG reduces dividends amid green energy powerhouse push
Fortescue Metals has lowered dividend payouts as it repositions itself as a green energy powerhouse, with increased spending on decarbonisation projects.
‘Bloody-minded’ banks under pressure to halt closures
Major banks are being urged to stop regional branch closures as a Senate inquiry prepares to hold its first hearing in Sale, Victoria.
Consumers fret over new year of interest rate hikes
Another cash rate hike and suggestions of more to come has mortgage holders worried, with consumer confidence sinking to the lows of the pandemic.
Westpac to close branches despite Senate inquiry plea
A week after the launch of a Senate inquiry into regional bank closures, Westpac has announced it will close 20 branches, including in major farming regions.
Flawed RBA predictions have ‘damaged credibility’
The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.