News Corp to slash one in 20 jobs amid earnings drop
News Corp will cut 1250 jobs in response to a big slump in second-quarter earnings as interest rates and inflation bite.
economy, business and finance
Reserve Bank flags higher rates to tackle inflation
Many Australians are facing a "painful squeeze" from the cost of living and rising interest rates, but the Reserve Bank is confident it's doing the right thing.
Intervention for energy prices working, says treasurer
Treasurer Jim Chalmers says intervention in the energy market is working and that a decision will be made mid-year on the fate of RBA governor Philip Lowe.
RBA backs power bills relief plan to help ease costs
As Treasurer Jim Chalmers has seized on support for a power bill relief plan as he meets his state and territory counterparts online.
consumers
economy, business and finance
energy
energy and resource
natural gas
politics
renewable energy
AGL posts $1.1b loss, warns price caps risk investment
AGL Energy has posted a $1.1 billion first-half loss on decarbonisation costs and warns gas price caps imposed by the federal government put investment at risk.
Record ninth consecutive increase to official cash rate
The Reserve Bank of Australia has announced a 25 basis point rise in the cash rate, taking it to 3.35 per cent - the highest since September 2012.
Treasurer stands by inflation handling, as rates bite
Treasurer Jim Chalmers says while the recent interest rate hike would slow the economy, forecasts show Australia would not go into a recession.
Barrier Reef fears sink Palmer’s push for new coal mine
A central Queensland project proposed by Clive Palmer has become the first coal mine to be refused under national environmental laws.
AGL Energy posts first-half loss amid decarbonisation
AGL Energy has posted a first-half loss, citing the cost of decarbonisation, outages and challenging energy market conditions.
AGL Energy slams government intervention, posts H1 loss
AGL Energy has posted a first-half loss, citing the cost of decarbonisation, coal plant outages and challenging energy market conditions.
Treasurer confident worst of inflation has passed
The federal government is adamant that while the coming economic year will be tough, inflation is heading in the right direction.
Post-pandemic bounce temporary as rate rises threaten
Generous incentives have supported business investment in recent years but further interest rate rises could "unnecessarily" tip Australia into recession.
G7, EU and Australia agree on price cap on Russian fuel
Major industrialised countries in the west, including Australia, will impose a price cap on refined Russian oil products such as diesel and kerosene.
Elon Musk found not liable over Tesla tweets
Tesla founder Elon Musk has been cleared in a US court of misleading shareholders and damaging the company in a tweet about taking the company private.
Struggle to survive in Torres Strait Island ‘paradise’
Traditional owners in the Torres Strait Islands are being forced to leave their archipelago homes amid the soaring cost of living and lack of housing.
Spongiest city no match for deadly ‘atmospheric river’
Extensive flood devastation in Australia and New Zealand is calling into question the design of cities that should keep millions of residents out of harm's way.
RBA decision tipped to deliver more mortgage pain
Another interest rate hike is expected when the Reserve Bank board meets on Tuesday for the first time in two months.
Consumers tighten belts amid interest rate rise squeeze
The latest retail figures show Australians are tightening their spending, falling 0.2 per cent in the December quarter.
Price pressures may ease but mortgage cliff looms
Inflation is likely to start easing but many mortgage holders face higher repayments once their fixed-rate terms expire, a living costs committee has been told.
Home values slide further but regions prove resilient
The property downturn is hitting capital cities harder than regions, suggesting higher demand has become permanent for regional markets.
Barilaro’s office denied bushfire funds in Labor seats
The NSW auditor‑general's report on bushfire recovery grants has found John Barilaro's office excluded Labor electorates from urgent funding.
New apartments trigger jump in building approvals
A glut of new apartment projects lifted building approvals in December but new house approvals remain subdued, new data shows.
Global growth outlook slightly healthier, says IMF
The outlook for the global economy has improved marginally, with inflation likely past its peak and trending down over 2023 and 2024.
Australia’s AAA rating affirmed
Strong demand for Australia's energy exports and the strong labour market have kept upwards pressure on the country's sovereign credit rating.
Retail trade sinks 3.9 per cent over festive season
Budget-conscious shoppers made the most of Black Friday sales, with retail sales then falling sharply weeks out from Christmas.
Towns putting up a fight as banks close
Regional communities are continuing to fight back against bank branch closures which could force some locals to travel hundreds of kilometres for service.
Greens threaten to derail emissions clamp
Labor's plan to reduce the ceiling on carbon emissions for some big companies doesn't go far enough, the Greens say.
Wholesale energy prices, emissions falling
Wholesale electricity prices and carbon emissions dropped in the December quarter as solar and wind became "most valuable player" in the Australian market.
Petrol set to soar before public holiday
Petrol prices are edging up in many parts of Australia before the January 26 public holiday.
Elon Musk claims his tweets boost Tesla
Tesla boss Elon Musk has defended his social media use in a call with investors, saying more car brands should use Twitter to interest buyers.
Gas shortfall concerns downgraded: ACCC
Australia is not out of the woods when it comes to a domestic gas shortfall but there's enough uncontracted supply available to cover the gap.