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Latest news: Economy, Business and Finance

First offshore wind on track for Star of the South team

First offshore wind on track for Star of the South team

The leading contender for Australia's first offshore wind project is unfazed by the veto of a port assembly plant to protect wetlands.

Real estate investors head west for cheap homes

Real estate investors head west for cheap homes

Real estate investors head west for cheap homes

Real estate investors head west for cheap homes

Skyrocketing rents and modest home prices are luring eastern state investors to Western Australia, where they're outbidding locals buyers to snap up properties.

'Softer' year ahead as spending and loan growth slow

'Softer' year ahead as spending and loan growth slow

'Softer' year ahead as spending and loan growth slow

'Softer' year ahead as spending and loan growth slow

After a year of surging rental prices and cost-of-living expenses, relief could be on the cards for borrowers with economists raising hopes for a soft landing.

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Draft laws usher in compulsory climate risk disclosure

Draft laws usher in compulsory climate risk disclosure

Draft laws for mandatory reporting of climate-related risks have been released by Treasurer Jim Chalmers.

X slammed for creating 'perfect storm' of online hate

X slammed for creating 'perfect storm' of online hate

Social media website X has been slammed by the eSafety Commissioner for breeding online hate since being acquired by tech entrepreneur Elon Musk.

Inflation surprise all but confirms end to rate hikes

Inflation surprise all but confirms end to rate hikes

Economists are sounding the death knell for the sharpest interest rate tightening cycle since the 1980s after inflation dropped faster than expected.

Record Australian rent price streak finally over

Record Australian rent price streak finally over

The average asking price for renting a house in Australia's capital cities has remained steady after almost three years of consecutive growth.

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US and UK forces say warships repel attack in Red Sea

US and UK forces say warships repel attack in Red Sea

US and UK forces say warships repel attack in Red Sea

US and UK forces say warships repel attack in Red Sea

Naval forces from the United States and the United Kingdom say they have shot down drones and missiles fired by Houthi rebels into the Red Sea.

Seachangers help Brisbane property prices top Melbourne

Seachangers help Brisbane property prices top Melbourne

Seachangers help Brisbane property prices top Melbourne

Seachangers help Brisbane property prices top Melbourne

A wave of interstate migrants seeking sun over lockdowns has helped average dwelling prices in Brisbane surpass Melbourne for the first time in a decade.

World Bank forecasts 2024 global growth to slow

World Bank forecasts 2024 global growth to slow

World Bank forecasts 2024 global growth to slow

World Bank forecasts 2024 global growth to slow

The global economy will slow for a third consecutive year in 2024, the World Bank predicts.

NT accelerates giga-scale green hydrogen production hub

NT accelerates giga-scale green hydrogen production hub

NT accelerates giga-scale green hydrogen production hub

NT accelerates giga-scale green hydrogen production hub

Priority status for a solar-powered hydrogen plant promises to bring hundreds of jobs to Darwin's energy precinct and shift an emerging export market up a gear.

Hundreds of jobs axed as Alcoa winds up old refinery

Hundreds of jobs axed as Alcoa winds up old refinery

Hundreds of jobs axed as Alcoa winds up old refinery

Hundreds of jobs axed as Alcoa winds up old refinery

US alumina giant Alcoa says it will shut down a 60-year-old refinery south of Perth, where hundreds of workers are expected to lose their jobs.

Flight to NSW regions drives rural land tax hike

Flight to NSW regions drives rural land tax hike

Flight to NSW regions drives rural land tax hike

Flight to NSW regions drives rural land tax hike

Land values have decreased across NSW by almost $50 billion, but regional areas inland have bucked the statewide trend.

Black Friday sales get tills ringing as Aussies cash in

Black Friday sales get tills ringing as Aussies cash in

Black Friday sales get tills ringing as Aussies cash in

Black Friday sales get tills ringing as Aussies cash in

Early Christmas shopping and Black Friday sales helped boost retail spending during November as savvy Australian consumers cashed in on bargains.

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No solace for city renters as prices continue to surge

Economists say there could be relief on the horizon for renters, despite prices growing in every capital city in the last months of 2023.

Financial complaints surge as cost of living bites

Australia’s financial dispute resolution scheme has received a record 100,000 complaints as scams, claim issues and rising prices loomed over Australians.

Wetlands trump offshore wind port despite energy push

A federal veto on a port hub for the huge towers, blades and turbines needed for the first offshore wind farm does not doom offshore wind, the treasurer says.

Storm clouds loom for economy as rain, floods take toll

The fallout from severe storms in Queensland could lead to consequences for the economy and budget bottom line, Treasurer Jim Chalmers has warned.

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Some Boeing planes grounded after midair window blowout

The emergency landing of a Boeing 737 Max with a gaping hole in its side is renewing safety concerns about the planes.

Black Friday splurge shifting numbers in retail readout

Retail data is likely to reveal shopper enthusiasm for Black Friday discounts ahead of fresh stats on Australian consumer prices, housing and jobs.

Alcoa mine clearing to supply scarce WA hardwood timber

Controversial land clearing at Alcoa's mine sites is likely to feed WA's ailing hardwood timber industry with logs following a ban on felling native forests.

UN tips slow and steady inflation progress in Australia

The United Nations says the world economy is in for another tough year, with Australia and other developed economies in Asia facing strong headwinds.

Loans to help struggling builders complete homes

The WA government will provide loans to help struggling builders complete unfinished homes that have been under construction for more than two years.

Australians think $345,000 income needed to feel rich

The rising cost of housing, groceries and other goods may help explain the vast gap between normal earnings and how much it would take to feel wealthy.

Land tax changes to recoup $1b more from Victorians

An increase in land tax for more Victorians is expected to raise $1 billion more than previously projected, according to the independent budget office.

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