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Latest news: Economy, Business and Finance

Passport prices flying high thanks to 15 per cent hike

Passport prices flying high thanks to 15 per cent hike

Australians looking to travel the globe have been stung with another increase in passport application fees, a move the opposition says will hurt the regions.

Stubbornly high inflation will eat into real wage gains

Stubbornly high inflation will eat into real wage gains

Stubbornly high inflation will eat into real wage gains

Stubbornly high inflation will eat into real wage gains

The federal budget is looking healthy thanks to a surprise revenue boost but inflation is proving persistent and is continuing to hurt household finances.

Major projects funding to be slashed by billions

Major projects funding to be slashed by billions

Major projects funding to be slashed by billions

Major projects funding to be slashed by billions

Billions of dollars in funding for Australia's major infrastructure projects will decrease over the next four years, as the government re-prioritises money.

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Grange on hold as Penfolds workers strike for pay rise

Grange on hold as Penfolds workers strike for pay rise

Production of Penfolds, Wolf Blass and Grange will stop for 24 hours as Treasury Wine Estates workers strike over pay ahead of peak production season.

Clean energy superpower status remains work in progress

Clean energy superpower status remains work in progress

The federal budget update acknowledges more must be done to secure and wire up renewables, with clean energy "superpower" status remaining a work in progress.

Cost of living relief lightens Queensland budget update

Cost of living relief lightens Queensland budget update

Queensland Treasurer Cameron Dick has spruiked further cost-of-living measures on the back off a balanced budget sheet in his mid-year budget update.

COVID-19 pandemic response continues to press on budget

COVID-19 pandemic response continues to press on budget

Continuing to pay for COVID-19 vaccines and treatments will cost Australians hundreds of millions of dollars, with the threat posed by the virus far from over.

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Firms still hiring but professional services ads fall

Firms still hiring but professional services ads fall

Firms still hiring but professional services ads fall

Firms still hiring but professional services ads fall

Workers still have many jobs to choose from though ad numbers are dropping off as hiring starts to wind down.

Environment reforms to lift 'handbrake on investment'

Environment reforms to lift 'handbrake on investment'

Environment reforms to lift 'handbrake on investment'

Environment reforms to lift 'handbrake on investment'

WA's Cook government will overhaul the state's environmental protection laws and give politicians more power in a bid to streamline EPA approval processes.

RBA boss hopeful for better year following hard 2023

RBA boss hopeful for better year following hard 2023

RBA boss hopeful for better year following hard 2023

RBA boss hopeful for better year following hard 2023

Higher interest rates and cost of living pressures are hurting households and businesses, with the central bank governor acknowledging it's been a hard year.

Savings found to cover billions in new federal spending

Savings found to cover billions in new federal spending

Savings found to cover billions in new federal spending

Savings found to cover billions in new federal spending

The federal government's mid-year review will show it has found budget savings to pay for new spending, such as the response to the robodebt royal commission.

Boost for AAP newswire as media diversity probed

Boost for AAP newswire as media diversity probed

Boost for AAP newswire as media diversity probed

Boost for AAP newswire as media diversity probed

Funding for independent newswire, AAP, is part of the federal government's latest move to boost media diversity and public-interest journalism.

'Crucial' research funding to end plastics, cut methane

'Crucial' research funding to end plastics, cut methane

'Crucial' research funding to end plastics, cut methane

'Crucial' research funding to end plastics, cut methane

Almost $130 million in federal grants to end widespread use of plastics and cut methane emissions in farming are part of a push for a less harmful economy.

Lamb on the menu in up and down outlook for farmers

Lamb on the menu in up and down outlook for farmers

Lamb on the menu in up and down outlook for farmers

Lamb on the menu in up and down outlook for farmers

Australia's farmers face a mixed six months with lamb prices on the rise, horticulture expecting a bump in output and milk production to remain flat.

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Principles guard truth in 'eco-friendly' product claims

Shoppers wanting a more sustainable option have fresh protection against false environmental claims under principles for businesses released by the regulator.

Reserve Bank wants to keep 'broad coverage' of ATMs

Reserve Bank governor Michele Bullock says cash use is sliding and putting pressure on the business models that underpin access to notes and coins.

Bush businesses caught by rising costs, closing banks

Australia is in the grips of a "cost-of-doing-business crisis" as fuel and energy prices rise and one-third of rural operators report "poor" business health.

Government debt now fastest-growing spending pressure

The federal government's debt bill is set to balloon as higher interest rates push up the cost of borrowing.

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Summer of extreme demand to test evolving energy grid

Australia's energy grid is a complex machine designed to adapt to peak demand through deadly heatwaves and storms, but blackouts remain a risk this summer.

Jobs data, mid-year budget update to dominate agenda

The state of the labour market and the public purse will be on display this week, as well as the health of the business and consumer sectors.

Tax changes flagged to bolster system integrity

The Albanese government has announced a consultation process as part of its tranche of reforms to strengthen integrity and accountability in the tax system.

Energy barons face-off over clean gas at climate summit

As negotiators gather for the final week of a milestone climate summit, the gas lobby says Australia's sector is already years ahead on emissions reduction.

RBA backs resilient borrowers to ride out rate rises

Australians are making painful adjustments to cost of living pressures and higher interest rates but are overall proving resilient.

Australia should delay AI laws, productivity boss warns

A business summit has heard Australia should not introduce laws around the use of artificial intelligence or it could risk being left behind other countries.

International factors driving petrol price pain

Higher international fuel prices driven by oil production cuts and strong demand, combined with a lower US dollar exchange rate, are pushing up petrol prices.

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