Bowen confident blackouts to be averted
A major power crisis along the east coast has been avoided with the intervention of the regulator and cooperation of industry, Energy Minister Chris Bowen says.
economy, business and finance
Rates, inflation clouds spending outlook
Households were spending up earlier in the year, but rising interest rates and ballooning inflation are likely to curb activity.
Hundreds of Vic tradies to upskill on EV
A Victorian pilot program will see 500 electricians trained on how to install and maintain electric vehicle charging stations.
Firms face ‘cost of doing business’ crisis
Small businesses are feeling the pinch from rising energy costs, with confidence dropping during the past six months, particularly among young business owners.
New home sales declined in May: report
The Housing Industry Association said new home sales fell by 5.5 per cent in May and further declines are expected as rising interest rates take hold.
Wind, solar to power Rio Tinto aluminium
New wind and solar farms will be used to power Rio Tinto's aluminium assets in the Gladstone region, as the mining giant looks to halve emissions by 2030.
Stoush over carbon credit ‘fraud’ heats up
A whistleblower is doubling down on criticism of carbon credits as a "fraud" on the environment and taxpayers, despite a review rejecting his accusations.
World Bank slashes global growth forecast
The World Bank has lowered its forecast for this year's global economic growth, warning that "subdued growth will likely persist throughout the decade".
Chalmers does not see risk of recession
Treasurer Jim Chalmers says he is not worried about the Australian economy going into recession, but he acknowledges inflation poses a major challenge.
RBA hike due to ‘significant’ inflation
The Reserve Bank of Australia board has raised the cash rate to 0.85 per cent from 0.35 per cent in the face of higher-than-expected inflation.
Get your tax right after COVID-19: ATO
The Australian Taxation Office anticipates COVID-19 will continue to impact the income and deductions taxpayers will be reporting in their returns this year.
Renewables ambition solution to bill shock
Parts of Australia have avoided soaring power prices thanks to high levels of renewable energy as experts call for a faster national grid overhaul.
Musk threatens to walk away from Twitter
Elon Musk says he might abandon his plans to buy Twitter if the company refuses to provide fake-account data.
Rate spike ‘difficult news’ for households
Treasurer Jim Chalmers says the 50 basis point increase in the cash rate by the Reserve Bank of Australia will be difficult news for households.
Albanese wraps up two-day Indonesia visit
Prime Minister Anthony Albanese has made a visit to the Indonesian port city of Makassar, ending a two-day trip to the Asian nation for leader talks.
Brewery says cheers to carbon-neutral beer
Australia's first carbon-neutral certified, alcohol-free beer adds a new element to ales that a brewer hopes customers will savour.
Airports defend operations during pandemic
Australia's airports say they are proud of how they held up during a brutal two years, after the ACCC accused them of making a "surprising" profit.
Qld to widen gambling tax, impose new levy
Queensland's gambling tax will rise from 15 per cent to 20 per cent and be broadened to include free and bonus bets in this month's state budget.
Carbon-sucking mud lures climate investors
Blue carbon projects could provide a win for Traditional Owners, biodiversity and corporates who need to satisfy climate-savvy customers and offset emissions.
Home lending plunged 6.4 pct in April
Borrowing for housing fell 6.4 per cent to just under $31 billion in April, a much steeper fall than economists were expecting.
SA budget surges into the black
The South Australian government has forecast a budget surplus for the next financial year of $233 million, and more positive news across the forward estimates.
Tourism helps long run of trade surpluses
Australia's trade surplus was a larger-than-expected $10.5 billion in April as exports grew by one per cent, while imports declined 0.7 per cent.
economy, business and finance
electricity production and distribution
energy (general)
global warming
politics (general)
Qld govt denies electricity price gouging
The Queensland government has denied its two state-owned electricity generators are price gouging, saying bids on the market are merely covering costs.
Economy grows, navigates virus and floods
The Australian economy grew by 0.8 per cent in the March quarter, propped up by household spending and resulting in an annual growth rate of 3.3 per cent.
House prices to fall as rate hikes bite
The CoreLogic home value index declined 0.1 per cent in May, its first drop since September 2020 and led by falls in Sydney, Melbourne and Canberra.
Teen cyclone survivor confronts bank boss
A school boy cyclone survivor has challenged a bank boss to do more on climate change, interrupting an elite business summit to call out "ridiculous" lending.
Another bumper winter crop: Rabobank
Grain farmers are expected to plant a record winter crop, with increases in wheat and canola as markets look to Australia for supplies amid global shortages.
Iran seizes Greek tankers amid tensions
Iranian forces have seized two Greek tankers after officials warned of action against Greece over the confiscation of Iranian oil by the US from a tanker.
Retail sales a record $33.9bn in April
The Australian Bureau of Statistics says retail trade rose 0.9 per cent in April, the fourth consecutive month turnover has risen.
Further sign of lame economy in early 2022
There are signs next week's national accounts will show the economy was barely growing in the first three months of the year.
Russia abandons Kyiv focus for Donbas
Russia has abandoned its assault on the Ukrainian capital Kyiv and is trying to consolidate control of the industrial eastern Donbas region.