Inflation higher for longer: Treasury
Inflation is going to hang around for longer due to persistently high energy prices and floods in southeast Australia, Treasury forecasts say.
economy, business and finance
Floods put growth forecasts at risk
Flooding in NSW, Victoria and Tasmania will add almost 10 per cent to the price of fruit and vegetables at the supermarket.
Jobless rate stays at 3.5 per cent
Hiring new workers has barely got any easier with the national unemployment rate remaining stable at 3.5 per cent in September.
Tesla confirms electric trucks for 2022
Tesla has revealed plans to launch one electric truck and begin producing another amid bold predictions from Elon Musk that the company will out-perform Apple.
‘Dog act’ Medibank hack details revealed
The federal cyber security minister has warned attacks on large companies could become more common, after an incident at Medibank.
New home building activity drying up
Builders still have a record amount of work on their plates but new activity is easing back, according to the Australian Bureau of Statistics.
More rural towns lose their last bank
The Finance Sector Union says Westpac has announced the closure of 23 of its group's branches across Australia, with the loss of 92 jobs.
Gas windfall ‘war profits’ surge to $40b
Gas producers face pressure to share their profits with taxpayers to help households and businesses pay bills, but it's been ruled out for next week's budget.
Origin Energy upgrades outlook on gas gain
Origin Energy has upgraded its outlook as gas earnings surge amid the global supply shock, with Australian power bills set to rise into 2024.
Pay secrecy clauses on chopping block
The Albanese government has kicked off its workplace reform agenda with a suite of measures to close the gender pay gap.
BHP ‘well-positioned’ for more uncertainty
Amid tricky global conditions, mining giant BHP is backing itself to win long-term from the mega-trends of decarbonisation and electrification.
UK PM Truss apologises for economic plan
With her economic plan largely reversed, Liz Truss is now fighting to survive just six weeks after becoming British prime minister.
Cost of living relief could spur inflation
Treasurer Jim Chalmers says any cost of living relief will need to be targeted in the federal budget to avoid further financial pressures on Australians.
Reserve Bank nervous about rate hike lag
The Reserve Bank wants to give its earlier aggressive rate hikes a chance to flow through and is worried consumers could slam the brakes on spending.
New UK finance minister reverses tax plan
Nearly all of Prime Minister Liz Truss's mini-budget has been reversed by new finance minister Jeremy Hunt.
Star Sydney licence suspended, $100m fine
The NSW Independent Casino Commission has fined Star Entertainment a record $100 million and suspended the gaming licence for its Sydney casino.
NSW ‘short-changed’ in federal cash splash
The federal government is pledging $9.6 billion to boost road and rail infrastructure across Australia, but NSW says it has been short-changed.
UK PM sacks Kwarteng, company tax to rise
The United Kingdom's corporation tax will rise to 25 per cent, Prime Minister Liz Truss has confirmed after she sacked finance minister Kwasi Kwarteng.
PM hails parental leave to Labor faithful
Australian families will get an extra six weeks of paid parental leave under a policy designed to improve gender equity and help with the rising cost of living.
UK PM fires finance minister Kwarteng
UK finance minister Kwasi Kwarteng has confirmed he has been sacked by Prime Minister Liz Truss, becoming the third chancellor to quit the government this year.
Inflation still ‘public enemy number one’
The inflation dragon is still breathing fire as the treasurer says higher-than-expected US inflation will have implications for Australia.
New standards for more connected energy
New rules and technical standards for home and business energy systems are being developed as regulators catch up with consumers and technology.
Incoming Star CEO plans to ‘rebuild trust’
Incoming CEO at Star Entertainment Group Robbie Cooke has vowed to "rebuild trust" as he steps into the top job at the embattled gaming company.
Budgets ‘best buffer’ to global recession
Headwinds facing the global economy require a coordinated international response, Jim Chalmers has told at a meeting of central bank and economic officials.
Qantas to boost wages, expects $1b profit
Qantas says it will boost worker pay by 10 per cent after a "remarkable turnaround" to profitability due to strong travel demand.
Labor’s new plan to slash consultancy bill
The finance minister has outlined a new plan to cut back on consultancy fees while the treasurer has promised to leave controversial stage three tax cuts alone.
Manufacturers turn ideas into jobs: report
A bed that watches vital signs and 3D-printed racing bikes are among the projects helped over the line by an industry-led advanced manufacturing centre.
CSIRO’s $90m mission towards net zero
CSIRO will spend $90 million to ensure local communities - including farmers, miners and steelmakers - aren't left behind in the quest for net-zero emissions.
Household energy bills soar by 25 per cent
Household and small business energy bills are soaring and the consumer watchdog is monitoring the industry for signs of price-gouging.
States plot grid for faster energy change
State energy ministers agree the scale of energy investment required is 'mind-boggling' but necessary to overhaul Australia's economy and cut carbon emissions.
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economy, business and finance
energy
environmental politics
finance (general)
industrial production
politics
Carbon credits key to industrial emissions
The federal government is playing "policy whack-a-mole" as it prepares to roll out energy and climate tools, including new credits for big emitters.