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Latest news: Economy

Electric vehicle sales soar during fuel price crunch

Electric vehicle sales soar during fuel price crunch

Australian motorists are voting with their feet and wallets as electric cars drive a path through the market.

Migrant tradies a net benefit to housing, say builders

Migrant tradies a net benefit to housing, say builders

Migrant tradies a net benefit to housing, say builders

Migrant tradies a net benefit to housing, say builders

The building industry is pushing for a better skilled migration intake having totalled how many homes a migrant tradie could help build in their career.

Hard sell for retail giant as consumers tighten belts

Hard sell for retail giant as consumers tighten belts

Hard sell for retail giant as consumers tighten belts

Hard sell for retail giant as consumers tighten belts

Households are clamping down on spending even more as financial uncertainty deepens, hitting sales at a leading Australian retailer.

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Trump slaps forced labour duties on 60 trading partners

Trump slaps forced labour duties on 60 trading partners

Trading partners have strongly condemned Donald Trump's latest tariffs as unjustified after the US imposed new levies to replace a temporary global tariff.

New threat to global oil as Houthis hit Saudi tankers

New threat to global oil as Houthis hit Saudi tankers

Houthi rebels have struck Saudi ships in the Red Sea while the US continues its strikes on Iran as the two countries vie for control of two vital waterways.

US still willing to negotiate over Iran crisis: Rubio

US still willing to negotiate over Iran crisis: Rubio

Secretary of State Marco Rubio has cast doubt on whether Iran is as committed to negotiations as the US, as hostilities continue with no breakthrough in sight.

Home-building costs rise, but not as much as feared

Home-building costs rise, but not as much as feared

The cost of building a home in Australia increased by one per cent in the June quarter, as higher oil prices and supply chain disruptions hurt builders.

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'Win-win': quick fix to stamp out AI-fuelled loan fraud

'Win-win': quick fix to stamp out AI-fuelled loan fraud

'Win-win': quick fix to stamp out AI-fuelled loan fraud

'Win-win': quick fix to stamp out AI-fuelled loan fraud

Allowing the tax office to share lenders' financial information with banks could help counter a surge in loan fraud fuelled by artificial intelligence.

Australia expands its fuel buffer against Gulf turmoil

Australia expands its fuel buffer against Gulf turmoil

Australia expands its fuel buffer against Gulf turmoil

Australia expands its fuel buffer against Gulf turmoil

Australia’s fuel reserves have hit all-time highs as the Iran conflict roils global oil markets, helping keep unleaded around $1.76 a litre in capital cities.

Corporate regulators told not to hinder nation's growth

Corporate regulators told not to hinder nation's growth

Corporate regulators told not to hinder nation's growth

Corporate regulators told not to hinder nation's growth

Corporate regulators ASIC and APRA have been directed to prioritise economic growth and productivity, in new guidance provided by Treasurer Jim Chalmers.

Tax push renders budget surplus forecasts 'unrealistic'

Tax push renders budget surplus forecasts 'unrealistic'

Tax push renders budget surplus forecasts 'unrealistic'

Tax push renders budget surplus forecasts 'unrealistic'

Treasury's assumption the federal budget will return to surplus within a decade is at risk because of likely tax cuts, an independent agency warns.

'No resources': One Nation defends uncosted policies

'No resources': One Nation defends uncosted policies

'No resources': One Nation defends uncosted policies

'No resources': One Nation defends uncosted policies

Pauline Hanson's rising right-wing party has blamed deficient parliamentary resources for the lack of detail about how much its plans will cost.

Telstra outage heat dials up as calls mount for answers

Telstra outage heat dials up as calls mount for answers

Telstra outage heat dials up as calls mount for answers

Telstra outage heat dials up as calls mount for answers

Telstra faces demands from the government as to why it took hours to make an alert over a major outage as police investigate if a death is linked to the issue.

Inflation-fuelling supply shocks under RBA microscope

Inflation-fuelling supply shocks under RBA microscope

Inflation-fuelling supply shocks under RBA microscope

Inflation-fuelling supply shocks under RBA microscope

The Reserve Bank is aiming to make its communications more accessible to a broader audience as it tries to ward off rising inflation expectations.

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'Watching like a hawk': servos on notice as fuel rises

Winding back discounts to the fuel excise are hitting motorists in the hip pocket, with service stations and suppliers monitored for exorbitant price rises.

Aussie AI boost: $500m network planned for major cities

Australia's internet infrastructure is not ready to handle increasing artificial intelligence demand, according to one telco that plans to build more fibre.

NSW's budget surplus dream could still face headwinds

NSW remains on track to deliver a budget surplus in 2027/28 despite a hit to a key revenue driver due to high interest rates, the treasurer says.

Premier threatens to name and shame energy retailers

Cost-of-living rhetoric is ramping up ahead of a state budget as leaders deliver warnings to energy companies.

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Slowing economy could shut the door on more rate hikes

Stagnant productivity means households face higher inflation and lower living standards but the treasurer hopes cheaper housing will ward off voter discontent.

'Bad to worse': productivity sinks to post-pandemic low

Poor productivity is bedevilling the Australian economy, with levels heading in the wrong direction for Treasurer Jim Chalmers.

'Apples with oranges': Labor brushes off Kiwi PM's dig

A visiting leader's remark that taxing capital gains would be "disastrous" has been brushed aside by Labor figures who deny it was a dig at its big reforms.

Lebanon truce raises hopes of progress for Iran deal

As Israel and Lebanon agree to implement a new ceasefire, President Donald Trump has suggested progress on a broader deal to halt the Iran war could come soon.

Officials bank on economic slump helping tame inflation

Australia is not experiencing stagflation but higher interest rates will help cool the economy and inflation, the nation's top bank official says.

Data centre boom fails to boot up lagging economy

A fourth Reserve Bank rate hike is still on the cards for 2026, despite a slowdown in economic growth, falling productivity and high labour costs.

Interest rate impact hits housing approval levels

The number of new homes being approved fell once again during April, and the Reserve Bank is being blamed for the downturn.

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