Savers need to keep pressure on banks: RBA
Savers should switch to more competitive rates if banks aren't passing on cash rate hikes, the head of the Reserve Bank of Australia says.
economy, business and finance
RBA governor sticks to the script on future rate rises
Not spooked by an unexpected uptick in the headline jobless rate, the Reserve Bank has stuck with its hawkish stance on interest rates.
Watchdog won’t probe fraud allegations against Adani
Australia's corporate regulator will not launch a formal investigation into alleged misconduct by the Adani Group due to the age of the accusations.
Westpac halts rural closures amid political pressure
Westpac says it will postpone closures of rural banks during a Senate inquiry, the second major bank to heed calls to act in good faith.
Jobs market weakens as economic headwinds loom
Official labour force data shows the unemployment rate lifting unexpectedly but there's still plenty of heat left in the jobs market.
‘Bloody-minded’ banks under pressure to halt closures
Major banks are being urged to stop regional branch closures as a Senate inquiry prepares to hold its first hearing in Sale, Victoria.
FMG reduces dividends amid green energy powerhouse push
Fortescue Metals has lowered dividend payouts as it repositions itself as a green energy powerhouse, with increased spending on decarbonisation projects.
Mortgage holder rates pain ‘disturbs’ Reserve Bank boss
The Reserve Bank governor has acknowledged the pain felt by mortgage holders but says getting on top of inflation will prevent more rate rises and job losses.
RBA boss says it’s unlikely interest rates have peaked
It's unlikely the cash rate has peaked at 3.35 per cent, the Reserve Bank boss has warned, without offering any indication of how many more to expect.
CBA lifts half-year profit but braces for slowdown
Australia's biggest lender has lifted its half-year cash profit by nine per cent and its interim dividend by 20 per cent to $2.10 a share.
Flawed RBA predictions have ‘damaged credibility’
The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.
Westpac to close branches despite Senate inquiry plea
A week after the launch of a Senate inquiry into regional bank closures, Westpac has announced it will close 20 branches, including in major farming regions.
Consumers fret over new year of interest rate hikes
Another cash rate hike and suggestions of more to come has mortgage holders worried, with consumer confidence sinking to the lows of the pandemic.
Intervention for energy prices working, says treasurer
Treasurer Jim Chalmers says intervention in the energy market is working and that a decision will be made mid-year on the fate of RBA governor Philip Lowe.
Reserve Bank flags higher rates to tackle inflation
Many Australians are facing a "painful squeeze" from the cost of living and rising interest rates, but the Reserve Bank is confident it's doing the right thing.
News Corp to slash one in 20 jobs amid earnings drop
News Corp will cut 1250 jobs in response to a big slump in second-quarter earnings as interest rates and inflation bite.
RBA backs power bills relief plan to help ease costs
As Treasurer Jim Chalmers has seized on support for a power bill relief plan as he meets his state and territory counterparts online.
consumers
economy, business and finance
energy
energy and resource
natural gas
politics
renewable energy
AGL posts $1.1b loss, warns price caps risk investment
AGL Energy has posted a $1.1 billion first-half loss on decarbonisation costs and warns gas price caps imposed by the federal government put investment at risk.
AGL Energy slams government intervention, posts H1 loss
AGL Energy has posted a first-half loss, citing the cost of decarbonisation, coal plant outages and challenging energy market conditions.
AGL Energy posts first-half loss amid decarbonisation
AGL Energy has posted a first-half loss, citing the cost of decarbonisation, outages and challenging energy market conditions.
Barrier Reef fears sink Palmer’s push for new coal mine
A central Queensland project proposed by Clive Palmer has become the first coal mine to be refused under national environmental laws.
Treasurer stands by inflation handling, as rates bite
Treasurer Jim Chalmers says while the recent interest rate hike would slow the economy, forecasts show Australia would not go into a recession.
Record ninth consecutive increase to official cash rate
The Reserve Bank of Australia has announced a 25 basis point rise in the cash rate, taking it to 3.35 per cent - the highest since September 2012.
Treasurer confident worst of inflation has passed
The federal government is adamant that while the coming economic year will be tough, inflation is heading in the right direction.
Consumers tighten belts amid interest rate rise squeeze
The latest retail figures show Australians are tightening their spending, falling 0.2 per cent in the December quarter.
RBA decision tipped to deliver more mortgage pain
Another interest rate hike is expected when the Reserve Bank board meets on Tuesday for the first time in two months.
Spongiest city no match for deadly ‘atmospheric river’
Extensive flood devastation in Australia and New Zealand is calling into question the design of cities that should keep millions of residents out of harm's way.
Struggle to survive in Torres Strait Island ‘paradise’
Traditional owners in the Torres Strait Islands are being forced to leave their archipelago homes amid the soaring cost of living and lack of housing.
Elon Musk found not liable over Tesla tweets
Tesla founder Elon Musk has been cleared in a US court of misleading shareholders and damaging the company in a tweet about taking the company private.
G7, EU and Australia agree on price cap on Russian fuel
Major industrialised countries in the west, including Australia, will impose a price cap on refined Russian oil products such as diesel and kerosene.
Post-pandemic bounce temporary as rate rises threaten
Generous incentives have supported business investment in recent years but further interest rate rises could "unnecessarily" tip Australia into recession.