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.
economy, business and finance
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.
Record number of new Australian businesses
Australians are starting new businesses in record numbers, with more than 160,000 added to the economy in 12 months.
Qantas posts $1.9 billion loss but revenue up
Qantas has posted a full-year underlying pre-tax loss of $1.86 billion after border closures and travel uncertainty as the COVID-19 pandemic weighed on earnings.
Virgin Australia to add more Boeing 737 MAX 8s
Virgin Australia is adding four Boeing 737 MAX 8 aircraft to its fleet, taking its number of Boeing 737s to 92.
ASX falls 1.2pct to near three-week low
The local share market has suffered its worst loss in seven weeks as traders suddenly turn skittish ahead of a major conference of central bankers from around the world.
Queensland business downcast amid strong earnings
Queensland businesses expect sales and revenue to grow, but they're less confident amid record operating and labour costs, a survey shows.
Omicron wave sends office return backwards
Office occupancy rates plunged in most major Australian cities in July as COVID-19 cases spiked across the country.
Mining magnate Rinehart to expand Queensland gas
Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO to expand gas projects in Queensland in a move welcomed by local industry.
Mammoth warehouse delivers goods faster
A robotics centre in western Sydney is helping small and medium sized businesses deliver faster to their customers.
RBA tempers language on rate rises
Economists say the RBA has laid the groundwork for less aggressive rate hikes, but the government acknowledges the latest decision will sting homeowners.
Likely rate rise will be difficult: PM
The Reserve Bank board is expected to lift the cash rate for the fourth month in a row when it meets on Tuesday, with economists tipping a 50 basis point rise.
Truckers rally in Canberra in reform push
Hundreds of trucks have rolled into the nation's capital in a call for improved safety for drivers and industry reform after dozens of deaths in recent months.
Retail sales momentum slowed in June
Retail turnover rose 0.2 per cent in June, its sixth straight monthly rise but the smallest increase so far this year.
Climate for ‘great reallocation’: Deloitte
Without a 'great reallocation' of investment by governments and industry, starting now, Australia could be at risk of hefty economic losses by 2050.
House prices drop, while units hold value
Domain says house prices in Australia's capital cities fell 0.9 per cent in the June quarter, while apartment prices were basically flat.
US central bank unleashes new rate hike
The US Federal Reserve has raised its benchmark interest rate by three-quarters of a percentage point for a second straight meeting as it battles inflation.
Global outlook ‘significantly’ darker: IMF
The International Monetary Fund has warned the global economy could slump into recession if risks of high inflation and the Ukraine war are left unchecked.
agriculture
economy, business and finance
energy
environmental politics
financial markets
forestry and timber
metal and mineral
mining
politics
transport
waste management and pollution control
Emissions shift may reduce taxpayer burden
An array of mechanisms are in play to cut emissions, with new laws simply setting a framework for detailed climate response tools that are yet to be argued out.
Telstra inks five-year deal with Microsoft
Australia's Telstra has landed one of the largest partnerships technology giant Microsoft has established with a telecommunications provider globally.
Consumer confidence weak ahead of CPI
Consumer confidence could go backwards this week if new data confirms Australia has recorded the highest annual inflation rate in more than 31 years.
Russian gas to EU cut to fifth of capacity
Russia's Gazprom says the capacity of the Nord Stream 1 pipeline under the Baltic Sea into Europe will be reduced to 20 per cent.
Crown’s Sydney casino to open next month
Crown says its Sydney casino at Barangaroo will open to the public in two weeks "with the highest levels of governance and compliance".
Grain deal threat as Russia strikes Odessa
An hours-old deal to unblock grain exports from Ukraine has been placed in jeopardy after Russian missiles struck the key Black Sea port of Odessa.
House prices slump to be offset by rates
As house prices across Australia drop, first home buyers are being urged to act fast before interest rate hikes make borrowing more expensive.
Victoria is best-performing state: CommSec
Victoria has earned top spot on CommSec's quarterly State of the States report for the first time since its COVID lockdowns but Queensland is coming on strong.
War in Ukraine enters its sixth month
Russia says said its forces have hit a Ukrainian warship and a weapons store in Odesa with its high-precision missiles, as the war enters its sixth month.
ECB hikes rates faster than flagged
The European Central Bank has raised interest rates for the first time in 11 years in hopes of taming record high inflation.