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The Latest News from economy, business and finance

Record renewables share in grid as power demand climbs

Record renewables share in grid as power demand climbs

Emissions fell to record lows in the three months to December as renewables notched a record share and coal's contribution dipped below half for the first time.

Last big bank holdout against February rate cut folds

Last big bank holdout against February rate cut folds

Last big bank holdout against February rate cut folds

Last big bank holdout against February rate cut folds

With the stars aligned for a February interest rate cut, borrowers are now concerned with how many cuts the Reserve Bank will hand down.

Bank fee revenue rises for first time in seven years

Bank fee revenue rises for first time in seven years

Bank fee revenue rises for first time in seven years

Bank fee revenue rises for first time in seven years

A rebound in overseas spending and a jump in mortgage holders refinancing their home loans boosted Australian banks' fee revenue by five per cent in 2023/24.

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'Year of the unit': cost squeeze drives homebuyer shift

'Year of the unit': cost squeeze drives homebuyer shift

Rising unaffordability and changing lifestyles are driving an unusual turnaround in real estate dynamics as unit prices grow faster than houses in some areas.

Top clothing chains to close, shedding hundreds of jobs

Top clothing chains to close, shedding hundreds of jobs

More than 250 outlets of two leading retail chains will close, costing nearly 1000 jobs, after receivers failed to find a buyer for the stores.

Selloff eases as China's DeepSeek triggers AI rethink

Selloff eases as China's DeepSeek triggers AI rethink

Chinese startup DeepSeek is making waves after launching a free AI assistant it says uses less data at a fraction of the cost of incumbent firms' models.

Chalmers buoyant about 2025, ahead of inflation data

Chalmers buoyant about 2025, ahead of inflation data

Treasurer Jim Chalmers remains confident 2025 will be better economically for Australians after struggles with the cost of living.

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Crucial inflation readout to determine RBA rate call

Crucial inflation readout to determine RBA rate call

Crucial inflation readout to determine RBA rate call

Crucial inflation readout to determine RBA rate call

Mortgage relief could be just around the corner if predictions of a faster-than-expected fall in price growth are borne out in ABS data released on Wednesday.

Aussie-made tax breaks urged to combat forced labour

Aussie-made tax breaks urged to combat forced labour

Aussie-made tax breaks urged to combat forced labour

Aussie-made tax breaks urged to combat forced labour

Tax breaks for local producers could become law if the coalition upholds its opposition to forced labour in global supply chains, an anti-slavery expert says.

Fading US climate leadership opens door for Australia

Fading US climate leadership opens door for Australia

Fading US climate leadership opens door for Australia

Fading US climate leadership opens door for Australia

Australia could end up with cheaper electric cars and renewed opportunities for green manufacturing as United States' climate leadership goes on hiatus.

I'd rather not use tariffs against China: Donald Trump

I'd rather not use tariffs against China: Donald Trump

I'd rather not use tariffs against China: Donald Trump

I'd rather not use tariffs against China: Donald Trump

US President Donald Trump has presented tariffs as a kind of silver bullet against China during an interview on Fox News.

The 'existential' threat facing the corporate watchdog

The 'existential' threat facing the corporate watchdog

The 'existential' threat facing the corporate watchdog

The 'existential' threat facing the corporate watchdog

Corporations and regulators are struggling to adapt to modern business conditions and regular Australians are suffering as a result, says ASIC boss Joe Longo.

Ballooning capital works blamed for budget blowout

Ballooning capital works blamed for budget blowout

Ballooning capital works blamed for budget blowout

Ballooning capital works blamed for budget blowout

A state will be in the red for some years as its government flags swelling infrastructure costs, as the opposition warns of the risk of potential spending cuts.

Home construction rises but target remains out of reach

Home construction rises but target remains out of reach

Home construction rises but target remains out of reach

Home construction rises but target remains out of reach

High costs, labour shortages and low productivity are limiting the sector's ability to build new homes as construction activity remains below required levels.

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Trump stirs tariff pot, toying with fresh threats on EU

A day after taking office, US President Donald Trump has reiterated tariff threats without immediately imposing the taxes he threatened during his campaign.

Europe extends hand to US, warns of 'race to bottom'

The EU is taking a "wait and see" approach to relations with the newly inaugurated US President Donald Trump in an attempt to avoid a trade conflict.

'Mum guilt': parents battle growing school costs

As Australian parents deal with the ballooning cost of school supplies amid other cost-of-living pressures, a minor party is promising relief.

Prince Harry's trial against UK tabloid poised to start

Prince Harry's highly anticipated legal case against Rupert Murdoch's UK tabloid newspapers is about to get underway in London.

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Cheap loans for farmers under green bank scheme

Low-cost loans will be made available to landowners planting native vegetation to sequester carbon in a win-win for farmers and the climate.

Housing affordability blow as construction costs go up

The cost of building a home continues to rise, making it harder for builders to meet supply targets and alleviate housing affordability.

Lifting unemployment benefit found to slow job hunting

Increasing the rate of welfare payments discourages unemployed people from looking for work, but that doesn't mean it's bad policy, a study has found.

Tax breaks for clean aluminium to foil carbon emissions

Australia's aluminium industry is set to share in billions of dollars of tax credits to help emissions-intensive smelters convert to cleaner sources of energy.

Star shares hit the skids as survival odds take a blow

Shares are down seven per cent at Star after the embattled casino company warned of "material uncertainty" about its ability to continue.

Lifetime pensions urged to make super system easier

A report has called for retirees to be able to buy a lifetime annuity from the federal government to boost their super balance.

TikTok stops working for US users as ban takes effect

A TikTok ban imposed on 170 million American users has taken effect as app stores pull the popular social video platform from their offerings in the US.

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