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Latest news: Economy, Business and Finance

Customers lose thousands in scams due to telco failures

Customers lose thousands in scams due to telco failures

Telecommunications company Medion has been fined $260,000 after failing to comply with customer ID rules that caused users to lose tens of thousands of dollars.

Quantum deal mines geophysics for hazards, exploration

Quantum deal mines geophysics for hazards, exploration

Quantum deal mines geophysics for hazards, exploration

Quantum deal mines geophysics for hazards, exploration

A hazard and minerals detection deal struck by an Aussie quantum start-up and the US Geological Survey could unlock a new generation of technologies.

Energy upgrades to ease hard decisions for renters

Energy upgrades to ease hard decisions for renters

Energy upgrades to ease hard decisions for renters

Energy upgrades to ease hard decisions for renters

Amid "horror stories" from low-income households battling rising living costs, $206m will be spent to cut energy bills and open the door to solar power.

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Forgotten and expired gift cards leave billions unspent

Forgotten and expired gift cards leave billions unspent

Nearly one billion dollars worth of gift cards are being wasted as Australians forget, lose or let them expire, creating a bonanza for retailers.

Jetsetters and shoppers spend big as confidence returns

Jetsetters and shoppers spend big as confidence returns

Australians are spending more on travel, insurance and online shopping as inflation reached its lowest levels since January 2022.

Rio Tinto ramps up iron ore, upbeat on energy minerals

Rio Tinto ramps up iron ore, upbeat on energy minerals

Global supply chain challenges have eased and labour costs are still rising in Australia and North America but interest rates may have peaked, Rio Tinto says.

PM confirms contentious stage three tax cuts to stay

PM confirms contentious stage three tax cuts to stay

Aussies earning high incomes will still get their tax cuts amid a cost-of-living crisis, as the government considers how to provide further relief for people.

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Water trigger 'too vague' to stop onshore gas expansion

Water trigger 'too vague' to stop onshore gas expansion

Water trigger 'too vague' to stop onshore gas expansion

Water trigger 'too vague' to stop onshore gas expansion

Tweaked environmental laws remain too loose to safeguard water supplies and tackle threats to food growers and country from onshore gas wells, research shows.

Supermarket 'big duopoly' to go under microscope

Supermarket 'big duopoly' to go under microscope

Supermarket 'big duopoly' to go under microscope

Supermarket 'big duopoly' to go under microscope

A review into the big supermarkets could force them under a mandatory code of conduct or recommend an investigation by the consumer watchdog.

Corporate Australia winning at climate 'double-speak'

Corporate Australia winning at climate 'double-speak'

Corporate Australia winning at climate 'double-speak'

Corporate Australia winning at climate 'double-speak'

Companies and industry bodies have been accused of putting climate targets at risk with public relations spin about going green while backing dirty business.

Twiggy attacks Woodside's 'death race' gas project

Twiggy attacks Woodside's 'death race' gas project

Twiggy attacks Woodside's 'death race' gas project

Twiggy attacks Woodside's 'death race' gas project

Australia's second richest person, mining magnate Andrew 'Twiggy' Forrest, has renewed his attack on the fossil fuel industry and Woodside Energy.

Jobs data on agenda as signs point to cooling inflation

Jobs data on agenda as signs point to cooling inflation

Jobs data on agenda as signs point to cooling inflation

Jobs data on agenda as signs point to cooling inflation

Experts will examine job data and spending insights for a better idea of how the Reserve Bank will act when it returns for the first time in 2024.

'White gold' on ice as mine faces major project expiry

'White gold' on ice as mine faces major project expiry

'White gold' on ice as mine faces major project expiry

'White gold' on ice as mine faces major project expiry

Australia's first and only lithium producer outside Western Australia has had a rocky ride on the "white gold" trail and faces another hurdle.

First offshore wind on track for Star of the South team

First offshore wind on track for Star of the South team

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.

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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

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.

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

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

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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

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

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

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

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

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

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.

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