‘Reform’ budget for NSW ahead of election
After more than a decade in power, the NSW coalition government has delivered a "transformational" budget as it prepares for an election in nine months.
economy, business and finance
Qld budget ‘back in black’, taxes to rise
Queensland Treasurer Cameron Dick will hike taxes on big businesses, gambling companies and coal miners to fund more hospital beds and mental health programs.
Energy markets give everyone a headache
Some say Australia's National Electricity Market is broken and are demanding a whole of system review. Others believe only some timely repairs are required.
breaking_news
coal
economy, business and finance
energy
environmental issue
investments
natural gas
politics
Experts reject ‘reheated’ energy blueprint
A 'reheated' proposal by regulators to pay coal plants and renewable generators to guarantee supply to the struggling electricity grid has come under fire.
Planned $100b overhaul of industrial heart
Emissions could be slashed from refineries, gas pipelines, steelworks and other industries under a $100 billion plan backed by Australia's biggest companies.
Macron looks to salvage a ruling majority
Voters have punished Emmanuel Macron's allies in France's parliamentary election, forcing the president to try to cobble together a majority to save his agenda.
Energy supply sufficient for weekend: AEMO
Supply issues facing Australia's electricity market have improved, with the market operator saying demand will be able to be met this weekend.
US central bank hikes by 75 basis points
The US Federal Reserve has approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation.
Court approves $8.9b Crown takeover
The federal court has approved Blackstone's $8.9 billion takeover of Crown Resorts, with James Packer to receive more than $3b from the deal.
Rising rates send confidence reeling
Consumer confidence has tumbled to multi-year lows in the face of sharply rising interest rates, but low paid workers may gain a lift from a large pay rise.
WA coal-fired power plants to shut by 2029
About 1200 workers will be affected by the West Australian government's decision to close its last remaining coal-fired power stations in coming years.
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.
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.