UK abandons plan to cut taxes for wealthy
British chancellor Kwasi Kwarteng has made an astonishing U-turn, reversing plans to scrap the top rate of income tax for the highest earners after a backlash.
economy, business and finance
RBA lifts cash rate by 25 basis points
The Reserve Bank of Australia has finally taken its foot off the accelerator and slowed the pace of tightening after a series of jumbo rate hikes.
Home values fall for fifth straight month
Home values have dropped in nearly all Australian capital cities as interest rate rises weigh on property prices.
SA lets the fruit fly dogs out
South Australia has deployed the nation's first fruit fly detector dogs in a bid to quickly contain outbreaks.
NSW Serco prison officers walk off the job
Prison officers at Clarence Correctional Centre have gone on strike to protest low wages and staffing, but the operator is trying to increase staff.
Queensland assures no flooding in hydro project
Premier Annastacia Palaszczuk has given a guarantee that no national parks will be flooded by the proposed Pioneer/Burdekin pumped hydro project.
Ex-CSIRO chair tempers green hydrogen hype
The amount of renewable energy needed to make hydrogen is huge and questions remain about whether it will become a key export, a former chair of the CSIRO says.
AGL Energy stakes $20b on coal exit plan
Australia's biggest carbon emitter, AGL Energy, will shut all coal-fired power plants by 2035 in response to customer, shareholder and government pressure.
Heavy industries grappling with clean heat
Reinventing industrial processes is a challenge for Australia's emissions heavyweights as miners and refiners figure out ways to deliver on net-zero promises.
Budget recovering but no surplus in sight
The federal government recorded a better-than-expected $32 billion budget deficit, but the treasurer warns the budget is unlikely to return to surplus soon.
Rocky outlook for home building sector
A major construction industry group has downgraded its forecasts for the home building sector as interest rate rises and inflationary pressures set in.
Star’s pledge to do whatever is necessary
Star Entertainment Group is asking authorities to allow its Sydney casino to continue operating after outlining a far reaching plan to reform its operations.
Another oversized rate hike on the cards
The case for yet another large 50 basis point interest rate hike has grown a little stronger as inflation proves to be increasingly hard to shake.
Australia not safe from economic downturn
The troubles facing the global economy are far from over and Australia is unlikely to get away unscathed, an OECD report says.
Robodebt inquiry pledges accountability
A royal commission into the controversial robodebt scheme has heard opening statements from the two people in charge of running the inquiry.
Motorists warned to fill up ahead of tax
Petrol prices are expected to jump about 25 cents a litre during the next few weeks after the fuel excise tax is reinstated in full.
Qld hits out over NSW stance on land tax
The NSW government will block moves by Queensland to access data it needs to impose land taxes on property investors who live south of the border.
Coalition, Labor say low risk of recession
The Labor government and federal opposition believe Australia's economic fundamentals are strong, but there are headwinds coming from overseas.
Queensland Government approves hydrogen corridor
Queensland has inked an agreement with three of Korea's largest conglomerate groups to build a green energy export corridor in the state's north.
RBA dividend not expected for years
The central bank has defended its $281 billion bond-buying program but says it has had serious consequences for its balance sheet.
Qld poised as nation’s ‘clean engine room’
Australia's vital coal and gas port of Gladstone could become a global hub of clean jobs and investment, served by abundant renewable energy.
Bankwest to close east coast branches
About 120 staff members are expected to be affected when Bankwest closes its remaining non-West Australian branches by the end of October.
Mining technology start-ups to share $21m
Australia's green bank is investing $21 million into clean mining technology so the key resources sector doesn't miss out on the benefits of cutting emissions.
Region can ward off ‘climate carnage’
Leaders from across the Asia-Pacific region have gathered in Brisbane to work out how to limit the death and destruction future natural diasters will deliver.
Fuel relief to end amid price spike fears
Treasurer Jim Chalmers has confirmed a temporary fuel excise cut will end next week but he doesn't expect prices to spike.
Treasurer reveals $50b budget turnaround
Jim Chalmers has revealed government finances were better than expected for the previous financial year but foreshadowed tough decisions in his first budget.
Treasurer flags a major spending rethink
Government finances are in better shape than expected, but the treasurer is not banking on high commodity prices as the long-term solution to budgetary woes.
Credit card debt the lowest priority
Australians facing financial hardship will pay their phone bill before any other form of debt, with people most likely to default on maxed out credit cards.
Origin exits Beetaloo for ‘cleaner’ energy
Origin Energy has sold its stake in the gas-rich Beetaloo Basin for a loss, sparking calls from Traditional Owners and environmentalists for others to leave.
Wall St closes lower on rate hike worries
US stocks have closed lower for a third straight session as a rise in job openings fuelled fears the US Federal Reserve has another reason to maintain its aggressive path of interest rate hikes to combat inflation.
ASX falls 2.0pct in worst drop in 8 weeks
The local share market has suffered its worst loss since early June following hawkish comments by America's top central banker.