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Latest news: Economy, Business and Finance

Data could end year-long holiday home tax breaks

Data could end year-long holiday home tax breaks

The outgoing ATO boss said new data methods could stop Airbnbs being claimed for tax deductions when they're not being rented out.

Cyclone prompts pilots to jettison four-day strike

Cyclone prompts pilots to jettison four-day strike

Cyclone prompts pilots to jettison four-day strike

Cyclone prompts pilots to jettison four-day strike

A strike at a Qantas subsidiary has been suspended at the request of the West Australian government because of a cyclone and the possible need for evacuations.

Westpac confuses councils, apologises for Mr Bean error

Westpac confuses councils, apologises for Mr Bean error

Westpac confuses councils, apologises for Mr Bean error

Westpac confuses councils, apologises for Mr Bean error

A Westpac email mixing up councils is one of many stories aired at an inquiry into bank closures showing the disconnect between the big four and rural towns.

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Wages outrunning inflation in win for household budgets

Wages outrunning inflation in win for household budgets

Average wages grew at the fastest annual pace in 14 years in 2023 while just outpacing inflation, the Australian Bureau of Statistics reported.

Woolies CEO quits as pressure and grocery prices rise

Woolies CEO quits as pressure and grocery prices rise

Woolworths chief executive Brad Banducci will resign by September after facing increased scrutiny over the pricing and a lack of supermarket competition.

Outgoing ATO boss calls for greater tax office powers

Outgoing ATO boss calls for greater tax office powers

The tax office's outgoing commissioner said the ATO should have powers to collect evidence in its investigations, rather than rely on federal police.

Incoming Qantas chairman can change airline: workers

Incoming Qantas chairman can change airline: workers

Qantas' naming of former Telstra boss John Mullen as its next chairman has been welcomed by airline staff, who say he has an open-door approach to workers.

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Non-compete clauses could slow higher pay, productivity

Non-compete clauses could slow higher pay, productivity

Non-compete clauses could slow higher pay, productivity

Non-compete clauses could slow higher pay, productivity

The prevalence of non-compete clauses in Australia could be standing in the way of wage growth and productivity improvements.

Gas giant Santos accused of eroding shareholder value

Gas giant Santos accused of eroding shareholder value

Gas giant Santos accused of eroding shareholder value

Gas giant Santos accused of eroding shareholder value

Gas giant Santos has been accused of eroding shareholder value with a record dividend and no update on the future after Woodside merger talks were terminated.

Rio Tinto energy pact cuts Gladstone's carbon footprint

Rio Tinto energy pact cuts Gladstone's carbon footprint

Rio Tinto energy pact cuts Gladstone's carbon footprint

Rio Tinto energy pact cuts Gladstone's carbon footprint

Rio Tinto will bankroll hundreds of construction jobs and industrial production in Queensland with a renewable energy supply deal for a smelter and refineries.

Sharehousing on rise as renting and living costs bite

Sharehousing on rise as renting and living costs bite

Sharehousing on rise as renting and living costs bite

Sharehousing on rise as renting and living costs bite

More people are share housing to bring rental costs down at the same time as homeowners are increasingly renting spare rooms to recoup higher mortgage costs.

Opposition moves to expand supermarket inquiry

Opposition moves to expand supermarket inquiry

Opposition moves to expand supermarket inquiry

Opposition moves to expand supermarket inquiry

The Queensland opposition will look to expand a supermarket inquiry to include electricity, transport, insurance and water.

BHP issues 'call to arms' for competitive mining future

BHP issues 'call to arms' for competitive mining future

BHP issues 'call to arms' for competitive mining future

BHP issues 'call to arms' for competitive mining future

Resources giant BHP says governments need to work harder to make sure Australia is in the race as global competition heats up for iron ore and battery minerals.

Rate hike case scuttled by improving inflation outlook

Rate hike case scuttled by improving inflation outlook

Rate hike case scuttled by improving inflation outlook

Rate hike case scuttled by improving inflation outlook

The Reserve Bank considered lifting interest rates earlier this month but convincing progress on inflation made it an easy argument to dismiss.

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Origin expands energy footprint across regional NSW

Origin Energy has added proposed wind and solar farm projects to its rural assets in NSW that will need new transmission lines along yet to be agreed routes.

Industrial action at Qantas subsidiary to be extended

Regional airline travellers in Western Australia may be in for more flight pain as pilots working at a Qantas subsidiary set a date for more industrial action.

Unions call for local content rules for offshore wind

An area of Western Australia known for its wild bottlenose dolphins and birdlife is the latest to join the offshore wind race.

Alarm as financial literacy fails to add up for many

A two-tiered financial health system, characterised by "haves and have nots", has been revealed in a survey of Australians on financial literacy questions.

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Affordability woes could fuel demand for unit living

Land values, a scarcity factor and the need for more space during COVID-19 lockdowns have turned the gap between house and unit prices into a chasm.

Drivers on struggle street fuel Ampol's 'mega profit'

Refinery operator and service station chain Ampol has been accused of delaying pump price relief for consumers already stung by a cost of living crisis.

Aussie economy 'OK' despite weaker housing: BlueScope

BlueScope Steel expects local housing starts to recover and strong demand in the United States for infrastructure, including steel-intensive renewable energy.

Employment slowdown to hit blue collar workers hardest

Conditions are finally turning after a bumper few years for the labour market, with some fields to be hit harder than others.

Wages tracking higher though growth likely peaking

Worker wages are still increasing but the pace of growth is expected to slow as cracks appear in the jobs market.

Drones replace helicopters for checking bush powerlines

A regional power company is using drones instead of helicopters for inspections of powerlines in preparation for the next bushfire season.

More women at 'cradle of oil' climate talks and beyond

If Australia wants to host climate talks with the Pacific, let's do it right and include women from the start, an environmental impact leader says.

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