Coal and gas ‘natural ally’ of renewables
Australia's resources minister has described coal and gas as a "natural ally" of renewable energy and essential to powering mining and economic change.
economy, business and finance
Housing lending plummets and worse to come
New home lending activity is drying up as rising interest rates shrink the amount banks are willing to lend.
Home prices fall for sixth month in a row
The home prices slump is starting to slow down but it may be premature to say the worst is over.
RBA hikes interest rates 25 basis points
The Reserve Bank of Australia has hiked rates by another 25 basis points on Melbourne Cup day, adding to the pressure already felt by mortgage holders.
ANZ beats expectations but shares fall
Big-four lender ANZ has outperformed expectations with a $6.5 billion full-year profit and a higher dividend, but its shares have dropped nearly four per cent.
Businesses could shut as energy costs soar
Soaring energy prices will burn a hole in the pockets of Australian businesses as growing gas dominance triples the cost of wholesale electricity.
Sunak makes parliament debut as PM
New British Prime Minister Rishi Sunak promised to restore economic stability after his predecessor's tax plans spooked markets and hurt the pound.
Regional communities ‘neglected’ in budget
Residents in regional communities are at risk of being 'neglected' in the federal budget, following the scrapping of infrastructure projects.
Annual inflation soars to 7.3 per cent
The latest inflation figures confirmed what households already knew - cost of living pressures are showing no signs of easing.
PM vows to lead UK out of economic crisis
UK Prime Minister Rishi Sunak has reappointed Jeremy Hunt as his finance minister and vowed to fix the "mistakes" of his predecessor.
Slaying inflation dragon key: Chalmers
Jim Chalmers has begun the task of budget repair, even as households face power price spikes and lower real wages due to rising inflation.
Power prices tipped to rise by 50 per cent
Retail electricity prices are expected to rise by 50 per cent over the next two years, the budget papers have revealed.
Billions set aside for aged care reforms
The government will spend billions in the federal budget overhauling the aged care sector, while COVID-19 response measures are also being extended.
Workers must wait two years for a pay rise
A gloomy economy will weigh on household budgets with a boost to real wages not expected until at least mid-2024.
Environmental projects get ‘down payment’
More than $1 billion will go towards protecting the Great Barrier Reef, with budget funds also set aside to save the nation's iconic endangered animals.
Budget ‘improves liveability’ in regions
The Albanese government says it is committed to regional Australia's future, funding health, skills and connectivity, while delaying dam projects.
breaking_news
budgets and budgeting
economy, business and finance
energy
environmental politics
politics
Climate bill $30b in first carbon budget
Australia's first carbon budget comes with a hefty price tag for climate spending to meet national and international pledges.
Chalmers braces for budget belt tightening
Treasurer Jim Chalmers has unveiled a budget that includes cost of living relief and down payments on election promises, but warns of hard decisions to come.
Petrol price spike looms for motorists
Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.
Labor gears up to hand down first budget
Soaring inflation and almost a trillion dollars of debt will set the scene for the Albanese government's first budget.
Budget to look at power price pressure
Labor is promising relief on energy costs in the federal budget as it stands by its election pledge to reduce power bills.
Weak dollar a ‘modest’ inflation driver
The weakening Australian dollar will make imports more expensive but the RBA says its effects will be relatively minor.
Labor ready for tough job of budget repair
Finance Minister Katy Gallagher says Tuesday's budget will include over $21 billion in savings and decisions to redirect existing spending.
Gloomy backdrop for first Albanese budget
The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.
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.
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.