CBA ups inflation prediction as supply chains strain
Australia is staring down the barrel of inflation above five per cent as a result of the Iran oil supply shock, economists from the Commonwealth Bank warn.
economy, business and finance
Australia to be ‘overprepared’ for ongoing fuel woes
Australians are being urged to use common sense instead of stockpiling petrol and diesel as the government proposes new powers to secure supplies.
Why small business is fighting back against Meta bans
After months of being locked out of her business social media accounts, an Australian hairdresser has finally regained access but she's one of the lucky ones.
Truck tax cut backed as fuel-rationing threat looms
Business groups have urged the government to cut the road-user charge for trucks, but not the fuel excise for all motorists.
Russia’s Ust-Luga port damaged by more Ukrainian drones
Ukrainian President Volodymyr Zelenskiy is seeking support from Gulf states for Ukraine's war against Russia and is offering air defence expertise.
WTO talks end in deadlock after Brazil blocks deal
In a "major setback for global trade", the World Trade Organization has failed to secure a collective decision on e-commerce during talks in Cameroon.
Top forecaster’s dire prediction if Iran war drags on
Australia could enter a recession, with the Reserve Bank raising interest rates a further three times, economists warn as fears of a protracted conflict mount.
The RBA conflict that could decide its next rates call
Australia's central bank must abandon its narrow path and choose between getting inflation down quickly or keeping unemployment low, economists say.
Calm before storm: RBA braces for spikes and hikes
The economy is expected to be hit with a savage inflation spike which will in turn increase the chances of more interest rate hikes.
Billions for Rio smelter rescue hailed as ‘slam dunk’
An aluminium smelter will get billions of dollars in government funding to stay open and save thousands of jobs in the latest bailout of a metals manufacturer.
Industry bailouts defended as Iran war smashes markets
Industry Minister Tim Ayres has outlined the government's industry-science strategy, saying global instability and the conflict in Iran demands stronger ties.
Bigger fines for dodgy servos but fuel fears remain
Fresh produce is likely to go up in price as higher fuel costs flow through the nation's supply chains, but relief to petrol shortages is on the way.
Hard time for renters as landlords squeeze tight market
Rising interest rates and living cost pressures mean it will be a tough year for the housing market, and even more so for renters.
Meta, Google lose US trial over social media addiction
A US jury has ruled YouTube and Instagram were negligent in the design of their apps and the companies that own them failed to warn about their dangers.
Trump reschedules to meet Xi in China in May
A meeting between US President Donald Trump and China's head of state Xi Jinping will take place in mid-May, according to the White House.
Power bill relief on the cards as wholesale prices fall
Power bill saving of up to $200 can be anticipated for some customers next financial year under proposed safety net prices.
Iran hits Kuwaiti oil refinery, blasts boom over Tehran
Israel and Iran have launched fresh attacks on each other, a day after Tehran struck an Israeli oil refinery.
Trump calls for Japan, NATO to ‘step up’ on Iran
Donald Trump has defended the secrecy of the US campaign in Iran by invoking Japan's attack on Pearl Harbour during a meeting with the Japanese prime minister.
Three more rate hikes tipped as prices begin to rise
Construction contractors are already hiking prices due to rising fuel costs, in a sign the US-Israeli war in Iran is contributing to economy-wide inflation.
Labor considers windfall gas tax amid Iran price spike
A new tax on extraordinary gas profits caused by the Middle East conflict could raise an extra $27 billion per year for the federal budget, advocates say.
Free midday power just the start for energy equity
Zero-cost daytime energy is about capitalising on Australia's solar success story but more could be done to ensure renters and apartment occupants benefit.
New Ukraine-Russia POW exchange possible: Zelenskiy
Ukrainian President Volodymyr Zelenskiy is optimistic about further prisoner of war swaps between his country and Russia after talks with the US concluded.
EU leader touches down as PM hopes to land trade deal
The president of the European Commission has begun her three-day visit to Australia, as a long-awaited free-trade deal with the bloc appears set to be resolved.
Cuba restores power to Havana after grid collapse
Cuba has begun restoring power in the capital Havana after the third major grid collapse this month that left 10 million people in the dark.
Cheaper goods to flow under ‘hard yakka’ EU trade deal
Australia and Europe will go on a tariff-slashing blitz, inking a historic trade deal after almost a decade of sometimes-intractable negotiations.
RBA frets over severe global shock from Middle East war
Spillover from the Iran war and an uptick in risky lending to first-home buyers could threaten Australia's financial stability, the Reserve Bank warns.
Coal miner reaps price rise from Middle East conflict
Coalminer New Hope is experiencing a price lift for the black mineral from the war in the Middle East, after posting a sharp fall in interim profit.
Up there Queen Mary: royal kicks goals in MCG debut
Denmark's Queen Mary has lived out the dream of many Australians, booting a goal at the MCG as she met AFL players during a return to her home nation.
Treasurer warns of major economic damage from Iran war
Fresh modelling shows oil price shocks and soaring prices for other commodities will have a lasting impact on Australia's economy.
Radio giant takes big bet in Sandilands contract fight
Kyle Sandilands may have played a shrewd move after his axing by focusing attention on his radio masters rather than himself, legal experts say.
Incoming BHP boss calls on Australia to mend its ways
Australia needs to adopt more business-friendly policies on energy and labour if it is to compete for capital, the new boss of mining giant BHP says.