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Latest news: Economy, Business and Finance

Phillip Island battery puts community in pole position

Phillip Island battery puts community in pole position

Phillip Island has taken pole position on meeting peak power demand, giving holiday hotspots a blueprint for avoiding blackouts when inundated with tourists.

NSW workers offered 4pc pay rise as inflation stings

NSW workers offered 4pc pay rise as inflation stings

NSW workers offered 4pc pay rise as inflation stings

NSW workers offered 4pc pay rise as inflation stings

Essential workers in NSW have been offered a 4.5 per cent wage increase including super - the largest boost in 12 years.

Australian vehicle sales hit record levels in May

Australian vehicle sales hit record levels in May

Australian vehicle sales hit record levels in May

Australian vehicle sales hit record levels in May

The Federal Chamber of Automotive Industries says sales of new cars and trucks rose to record levels in May.

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Call for 'no deforestation' conditions on bank loans

Call for 'no deforestation' conditions on bank loans

To mark World Environment Day, Australian conservationists are calling for banks to stop funding the clearing of wildlife habitats by agriculture businesses.

Another nail-biter interest rate call looms

Another nail-biter interest rate call looms

The Reserve Bank's June interest rate decision and the economic growth numbers for the March quarter are the top agenda items to watch this week.

Regulator comes clean with carbon credit data release

Regulator comes clean with carbon credit data release

Carbon credit data has been released by the federal regulator to restore confidence in the market integrity of one of Australia's key emission reduction tools.

Interest rates rises still weighing down home lending

Interest rates rises still weighing down home lending

Housing-related borrowing has fallen again but the decline has not fully unwound the rebound in the month before.

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New offshore gas up in the air as acreage access stalls

New offshore gas up in the air as acreage access stalls

New offshore gas up in the air as acreage access stalls

New offshore gas up in the air as acreage access stalls

Adding to gas supply uncertainty, bids for offshore petroleum acreage remain in limbo after more than a year and the next round is unclear after fierce debate.

Lowest paid workers to get wage lift above inflation

Lowest paid workers to get wage lift above inflation

Lowest paid workers to get wage lift above inflation

Lowest paid workers to get wage lift above inflation

Millions of workers will enjoy a generous pay boost, with the lowest paid of all on track for a bump that eclipses red-hot inflation from next month.

US Congress approves debt-limit suspension bill

US Congress approves debt-limit suspension bill

US Congress approves debt-limit suspension bill

US Congress approves debt-limit suspension bill

The US Senate has given final approval to a debt ceiling and budget cuts package, averting what would have been a first-ever default.

Households in no hurry to give up their extra space

Households in no hurry to give up their extra space

Households in no hurry to give up their extra space

Households in no hurry to give up their extra space

Sky-high rents are expected to nudge people to share living quarters and in turn take pressure off prices, but it's a complicated dynamic in reality.

Businesses still planning to spend in coming months

Businesses still planning to spend in coming months

Businesses still planning to spend in coming months

Businesses still planning to spend in coming months

Fresh data from the national statistics bureau shows businesses are still spending and plan to keep investment levels up in 2023/24.

Renewable energy pipeline puts targets in jeopardy

Renewable energy pipeline puts targets in jeopardy

Renewable energy pipeline puts targets in jeopardy

Renewable energy pipeline puts targets in jeopardy

A fall in financial commitments for large-scale renewable generation projects could pull the plug on 2030 targets, but state governments aim to fill the gap.

Radars scan crowded skies, yet no rule on space junk

Radars scan crowded skies, yet no rule on space junk

Radars scan crowded skies, yet no rule on space junk

Radars scan crowded skies, yet no rule on space junk

Despite thousands of items of space junk circling earth, there are no national regulations on minimising future space waste or tracking the human-made debris.

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'Crappy' rate of return for taxpayers on $5b fund

The rate of return on a nation-building fund has been slammed by the coalition, but federal Labor says it will rebuild manufacturing and keep jobs onshore.

BHP finds $430m public holiday backpay error

BHP employees' leave was wrongly used for public holiday pay about 170,000 times over the past 13 years, the mining giant concedes.

Climate changing for financing fossil fuel expansion

Santos and Woodside Energy are on a shortlist of firms that may find finance for expansion more elusive as the investor climate strike extends beyond coal.

Adaptability, liquidity key to Qantas resilience: Joyce

Outgoing Qantas chief executive Alan Joyce has revealed the greatest challenges still facing the industry as he looked back on 15 years as head of the airline.

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RBA warms to another rate hike as inflation keeps heat

Reserve Bank governor Philip Lowe has flagged several reasons to be worried about inflation as the monthly consumer price comes in higher than expected.

ACCC wary of market power in supermarket sector

The consumer watchdog is keeping an eye on the concentrated supermarket sector for fear limited competition could be fuelling price hikes.

NSW to ditch 'one of most undemocratic' voting schemes

Businesses could soon go back to having the same voting power as ordinary residents of central Sydney after changes failed to unseat Lord Mayor Clover Moore.

Push for Indigenous inclusion in new energy economy

Indigenous jobs will be part of the energy transformation in Central Queensland's industrial heartland as delegates meet in Gladstone to share ideas.

Interest rate buffer intact despite 'mortgage prison'

The banking regulator won't budge on the income buffer required for paying off a mortgage even as rising interest rates price many out of the housing market.

Philip Lowe urges diversity on Reserve Bank board

The Reserve Bank boss says the government of the day is responsible for picking the right people with the right backgrounds to sit on the central bank board.

Growers nervous over drier conditions for winter crops

A report is predicting drier conditions will take a toll on this year's winter crop production, with grain growers nervous about the year ahead.

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