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Latest news: Economy, Business and Finance

'I am so sorry': audit investigator's belated apology

'I am so sorry': audit investigator's belated apology

An investigator has apologised to a Senate inquiry for failing to properly probe claims of misconduct at one of the biggest multinational auditors.

Tech giants unaware how many children on social media

Tech giants unaware how many children on social media

Tech giants unaware how many children on social media

Tech giants unaware how many children on social media

Social media conglomerates have been asked about their failure to comply with Australia’s social media ban and been unable to answer a particular question.

Impact of war in Middle East hits insurer's bottom line

Impact of war in Middle East hits insurer's bottom line

Impact of war in Middle East hits insurer's bottom line

Impact of war in Middle East hits insurer's bottom line

Shares in Sydney-based global insurance company have fallen two-month low after it paid out millions in catastrophe claims related to the war with Iran.

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Banks and miners drag market to worst week in months

Banks and miners drag market to worst week in months

The ASX has retreated sharply a week after hitting record highs as macroeconomic concerns, metals prices and high earnings benchmarks weigh on confidence.

Fashion, sports website posts strong earnings growth

Fashion, sports website posts strong earnings growth

The Iconic saw sales rise and earnings climb, in part thanks to its new online marketplace and a new tool that adjusts pricing in real time.

The next person chosen to help decide mortgage rates

The next person chosen to help decide mortgage rates

Melinda Cilento, head of economic think tank CEDA, will become the newest member of the nine-person board responsible for setting interest rates in Australia.

Nap time over for baby goods giant as profits jump

Nap time over for baby goods giant as profits jump

Australia's biggest retailer of baby goods has gone all-in on its slick new stores, bringing its previously nerve-wracking sales figures out of the wilderness.

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Aussie shares fall as CommBank, miners drag on market

Aussie shares fall as CommBank, miners drag on market

Aussie shares fall as CommBank, miners drag on market

Aussie shares fall as CommBank, miners drag on market

The ASX has continued to grind lower during earnings season, but there are signs investors are tipping the exchange will soon head higher.

AI boom, productivity malaise making RBA's job harder

AI boom, productivity malaise making RBA's job harder

AI boom, productivity malaise making RBA's job harder

AI boom, productivity malaise making RBA's job harder

Investment in AI is supporting demand in the economy at a time when the Reserve Bank wants it to cool, but the housing downturn should help get inflation down.

Energy giant isn't sweating after warmer winter

Energy giant isn't sweating after warmer winter

Energy giant isn't sweating after warmer winter

Energy giant isn't sweating after warmer winter

Weather woes and energy market shake-ups aren't weighing heavily on Australia's biggest electricity retailer.

'Accountability taken': Telstra execs pay outage price

'Accountability taken': Telstra execs pay outage price

'Accountability taken': Telstra execs pay outage price

'Accountability taken': Telstra execs pay outage price

Telstra's CEO is among 10 senior leaders paying the price for a major nationwide outage as the telco's board docks executive pay by nearly $2 million.

Scorched: rising natural disasters hit insurer's profit

Scorched: rising natural disasters hit insurer's profit

Scorched: rising natural disasters hit insurer's profit

Scorched: rising natural disasters hit insurer's profit

Australia and New Zealand's biggest insurer has posted a significant drop in annual profit, as major bushfires and floods sparked a wave of claims.

Down the drain: Penfolds maker falls into the red

Down the drain: Penfolds maker falls into the red

Down the drain: Penfolds maker falls into the red

Down the drain: Penfolds maker falls into the red

Treasury Wine Estates has delivered a huge earnings loss on the back of large writedowns of the value of its US assets and supply chain issues.

Treasurer tips housing growth despite investor slump

Treasurer tips housing growth despite investor slump

Treasurer tips housing growth despite investor slump

Treasurer tips housing growth despite investor slump

A collapse in property investor lending since the federal budget is good for the economy in the long term, the boss of the nation's biggest bank says.

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Higher exit tax fails to fly with tourism sector

Travel industry figures have criticised a move to charge people leaving Australia more, saying it comes on top of other increasing costs.

Australian shares fall as investors heed bank warnings

The financials sector has weighed on the ASX after Commonwealth Bank's warnings on the wider economy.

Biggest bank bullish on home loans despite budget hit

Commonwealth Bank home loan applications plunged after controversial changes to negative gearing and capital gains taxes, but it's hopeful of a recovery.

Power debts rise as end of bill relief hits home

Electricity and gas supplier AGL accepts the end of federal government bill relief and cost-of-living pressures are hitting some of its customers.

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Premiums rising at double inflation rate, insurer says

The cost of insurance is surging at nearly double the rate of inflation, Australia's biggest insurer says, after its profit was hammered by a stormy year.

'Hawkish' RBA open to more hikes after holding rates

Borrowers are on notice with the Reserve Bank signalling it won't shy away from raising interest rates if inflation comes in higher than forecast.

Shares lift as RBA holds fire, oil holds onto gains

A Reserve Bank decision to keep the cash rate on hold at 4.35 per cent surprised few, but investors are divided about the path ahead for borrowing costs.

Data collection fever as households sign into census

More than five million Australians have completed their census forms, as a government website tries to avoid a repeat of an infamous 2016 crash.

Aussie shipbuilder gets big offer for US operation

A South Korean conglomerate has lobbed a massive bid for an Australian shipbuilder's most lucrative business, sending its share price rocketing.

House price falls weighing on economic growth, RBA says

The deterioration in Australia's housing market will help slow the economy and get inflation back under control, the Reserve Bank says.

Family tracking firm's shares dive despite revenue beat

Shares in Life360 have fallen by 13 per cent even as the location-sharing platform's revenue climbed 38 per cent and its user base topped 100 million.

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