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Latest news: Economy, Business and Finance

ASX shares slide to seven-year low after damning report

ASX shares slide to seven-year low after damning report

ASX Limited shares have fallen to their lowest level since 2018 after the market regulator said it would require it to hold another $150 million in capital.

Budget blowout 'modest' for Australia's Olympic hosts

Budget blowout 'modest' for Australia's Olympic hosts

Budget blowout 'modest' for Australia's Olympic hosts

Budget blowout 'modest' for Australia's Olympic hosts

The mid-year budget report card has revealed a "modest" budget blowout as one state continues counting down to the 2032 Olympic Games.

Savings found in budget update as blowouts add up

Savings found in budget update as blowouts add up

Savings found in budget update as blowouts add up

Savings found in budget update as blowouts add up

Treasurer Jim Chalmers has revealed billions of dollars in savings as other projects in the budget blow out amid "grave" concerns over its bottom line.

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Price gouging ban will drive up costs: supermarkets

Price gouging ban will drive up costs: supermarkets

Lower grocery bills are being promised with a price gouging ban but supermarket giants and retailers say shoppers will be the ones to bear the brunt of costs.

Problem-plagued toll road opens after decade of delays

Problem-plagued toll road opens after decade of delays

A long-awaited tunnel project promising to ease congestion in one of Australia's biggest cities has officially opened after cost blowouts and lengthy delays.

Budget update to reveal Australia's fiscal fortunes

Budget update to reveal Australia's fiscal fortunes

The federal treasurer says he's booked another $20 billion in savings in the budget update, but is keeping mum on whether that means a smaller deficit.

'Smash-hit' battery scheme topped up, subsidies trimmed

'Smash-hit' battery scheme topped up, subsidies trimmed

Government backing for home batteries will be dialled back for larger systems in a move intended to make the scheme sustainable and open to more households.

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Urban sprawl fuels deadly fire risks on city outskirts

Urban sprawl fuels deadly fire risks on city outskirts

Urban sprawl fuels deadly fire risks on city outskirts

Urban sprawl fuels deadly fire risks on city outskirts

Modern houses are being built to better withstand fires, but an urban planner warns missteps are still being made in street and city design.

Smelter's future secured but cost to taxpayers unclear

Smelter's future secured but cost to taxpayers unclear

Smelter's future secured but cost to taxpayers unclear

Smelter's future secured but cost to taxpayers unclear

Australia's largest aluminium smelter has been handed a government lifeline to ensure it keeps running beyond 2028 amid spiralling energy costs.

'Not ready': investors chop down deforestation action

'Not ready': investors chop down deforestation action

'Not ready': investors chop down deforestation action

'Not ready': investors chop down deforestation action

National Australia Bank shareholders have rejected resolutions related to deforestation, but its chairman says he has concerns about the practice.

Belt tightening in order as federal payments balloon

Belt tightening in order as federal payments balloon

Belt tightening in order as federal payments balloon

Belt tightening in order as federal payments balloon

More than $12 billion in program cost blowouts demand tighter spending in other parts of the federal budget, the treasurer is warning Australians.

Mine site emissions new battlefield in coal climate war

Mine site emissions new battlefield in coal climate war

Mine site emissions new battlefield in coal climate war

Mine site emissions new battlefield in coal climate war

Coalminers and environmentalists are clashing over a climate report on the sector finding net-zero emissions targets are unlikely to be hit at the current pace.

Myer hails Black Friday boom as top label nears return

Myer hails Black Friday boom as top label nears return

Myer hails Black Friday boom as top label nears return

Myer hails Black Friday boom as top label nears return

Department store Myer achieved its biggest biggest Black Friday sale performance on record as it prepares to relaunch a fast fashion brand in Australia.

Mixed employment report won't make RBA's job any easier

Mixed employment report won't make RBA's job any easier

Mixed employment report won't make RBA's job any easier

Mixed employment report won't make RBA's job any easier

Unemployment and jobs growth figures for November tell differing stories about the strength of the labour market, providing little clarity for the Reserve Bank.

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'No value': bank defends dropped no-deforestation plan

Westpac's agricultural customers were clear. Its stand against deforestation is of no value, so the bank dropped plans for a forest protection policy.

Tax reform call as data centre boom plugs in investment

A jump in forecast business investment in the midyear budget update will be unveiled by the treasurer, which bodes well for Australia's productivity growth.

Businesses spared rising costs as peace deal struck

Christmas has come early for businesses with a months-long impasse on workers compensation resolved, ensuring insurance premiums do not surge.

Divided US central bank cuts rate, signals pause

The US central bank has reduced its key interest rate for the third time in a row but signalled that it may leave rates unchanged in the coming months.

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Faster coal decline risks catching Australia off-guard

Demand for Australian coal exports might dry up faster than first thought, underscoring the need for rapid action to help mining communities prepare.

Rich lister's private chopper plan has wings clipped

Gina Rinehart's plans to wing her way to the office have been scuttled after her company's plan to build a helipad at its new headquarters was blocked.

Nvidia chip sales to China sparks US security concerns

Critics fear Donald Trump's decision to upend US policy by allowing Nvidia to sell its advanced AI chips to China will boost Beijing's military capabilities.

Christmas desperation for families facing cost struggle

Half of all Australians are concerned about affording Christmas as housing constraints and rising costs push millions to reach out to charities for help.

Cheapest path to energy and climate goals locked in

Solar and wind firmed by storage and backed by gas remains the cheapest pathway to meet Australia's growing demand for electricity while reaching climate goals

February is live: RBA warns of impending rate hike

The average mortgage-holder's repayments could soon jump an extra $90 a month, with another Reserve Bank interest rate hike on the cards as early as February.

Rate rise flagged as RBA does a Grinch with no Xmas cut

More rate relief for borrowers has essentially been ruled out by the Reserve Bank governor as the central bank mulls over when to lift rates again.

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