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Latest news: Economy, Business and Finance

Labor considers windfall gas tax amid Iran price spike

Labor considers windfall gas tax amid Iran price spike

A new tax on extraordinary gas profits caused by the Middle East conflict could raise an extra $27 billion per year for the federal budget, advocates say.

Three more rate hikes tipped as prices begin to rise

Three more rate hikes tipped as prices begin to rise

Three more rate hikes tipped as prices begin to rise

Three more rate hikes tipped as prices begin to rise

Construction contractors are already hiking prices due to rising fuel costs, in a sign the US-Israeli war in Iran is contributing to economy-wide inflation.

Smiggle sets its sights and range on primary target

Smiggle sets its sights and range on primary target

Smiggle sets its sights and range on primary target

Smiggle sets its sights and range on primary target

Smiggle will cut product ranges aimed at children younger than six and re-establish its identity as the back-to-school brand of choice for kids aged six to 12.

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Trump calls for Japan, NATO to 'step up' on Iran

Trump calls for Japan, NATO to 'step up' on Iran

Donald Trump has defended the secrecy of the US campaign in Iran by invoking Japan's attack on Pearl Harbour during a meeting with the Japanese prime minister.

Treasurer softens up voters for 'hard decisions' on tax

Treasurer softens up voters for 'hard decisions' on tax

The government will warn of a hit to economic growth and Australia's productivity performance in the upcoming budget, raising the stakes for ambitious reform.

Power bill relief on the cards as wholesale prices fall

Power bill relief on the cards as wholesale prices fall

Power bill saving of up to $200 can be anticipated for some customers next financial year under proposed safety net prices.

'Over-prepared': PM's pledge on growing fuel crisis

'Over-prepared': PM's pledge on growing fuel crisis

Australia will have a single point of contact co-ordinating fuel supplies and issues that might arise due to the Iran war, with further measures expected.

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Spike in jobless rate unlikely to end RBA hiking cycle

Spike in jobless rate unlikely to end RBA hiking cycle

Spike in jobless rate unlikely to end RBA hiking cycle

Spike in jobless rate unlikely to end RBA hiking cycle

A rise in unemployment and a surge in hiring point to conflicting impulses in Australia's labour market, but conditions remain relatively tight.

RBA frets over severe global shock from Middle East war

RBA frets over severe global shock from Middle East war

RBA frets over severe global shock from Middle East war

RBA frets over severe global shock from Middle East war

Spillover from the Iran war and an uptick in risky lending to first-home buyers could threaten Australia's financial stability, the Reserve Bank warns.

New Zealand economy limps on with lacklustre GDP

New Zealand economy limps on with lacklustre GDP

New Zealand economy limps on with lacklustre GDP

New Zealand economy limps on with lacklustre GDP

New Zealand's fledgling economic revival, confirmed by fresh GDP figures, is at risk as supply chain disruptions push up inflation.

Australia exposed as China rewrites green economy

Australia exposed as China rewrites green economy

Australia exposed as China rewrites green economy

Australia exposed as China rewrites green economy

China is locking in its critical minerals and metals dominance via deep pocket investments in the Global South, leaving a shrinking role for Australian exports.

Safe as houses: home resale profits go through the roof

Safe as houses: home resale profits go through the roof

Safe as houses: home resale profits go through the roof

Safe as houses: home resale profits go through the roof

Record home sales profits are lining the pockets of people in the housing market, while pushing the price of admission beyond the means of ordinary Australians.

Royals celebrate another Danish-Australian star pairing

Royals celebrate another Danish-Australian star pairing

Royals celebrate another Danish-Australian star pairing

Royals celebrate another Danish-Australian star pairing

King Frederik and Queen Mary have admired the work of another Danish-Australian duo as the royals headed to an art exhibition at a trendy converted warehouse.

Treasurer warns of major economic damage from Iran war

Treasurer warns of major economic damage from Iran war

Treasurer warns of major economic damage from Iran war

Treasurer warns of major economic damage from Iran war

Fresh modelling shows oil price shocks and soaring prices for other commodities will have a lasting impact on Australia's economy.

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Radio giant takes big bet in Sandilands contract fight

Kyle Sandilands may have played a shrewd move after his axing by focusing attention on his radio masters rather than himself, legal experts say.

Incoming BHP boss calls on Australia to mend its ways

Australia needs to adopt more business-friendly policies on energy and labour if it is to compete for capital, the new boss of mining giant BHP says.

Investor tax-break cuts no 'silver bullet' for housing

Winding back the capital gains tax discount could reduce property prices by about four per cent, compared to what they would be under a no-change scenario.

Up there Queen Mary: royal kicks goals in MCG debut

Denmark's Queen Mary has lived out the dream of many Australians, booting a goal at the MCG as she met AFL players during a return to her home nation.

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Collateral damage: war threatens to blow up inflation

Domestic pressures were behind the Reserve Bank's decision to hike interest rates, governor Michele Bullock says, although the Iran war will worsen inflation.

Tax discount 'skewing' property market to investors

A parliamentary report has found significant tax discounts on capital gains have tipped the scales in favour of investors compared to owner-occupiers

Radio silence for Sandilands as contract deadline looms

Embattled radio host Kyle Sandilands says he expects his employer to honour his multimillion-dollar contract as he waits to hear whether he will be fired.

Coal miner reaps price rise from Middle East conflict

Coalminer New Hope is experiencing a price lift for the black mineral from the war in the Middle East, after posting a sharp fall in interim profit.

Summer climate 'whiplash' hitting harder and faster

Australia is seesawing between floods and fires with increasing frequency, leaving a trail of ecosystem stress, property damage and strained council budgets.

Trump-Xi meeting could be delayed, White House says

A White House spokeswoman says it is possible US President Donald Trump's visit to China could be delayed.

Fuel tax cut urged to avoid fruit 'rotting on trees'

As some country towns face major petrol shortages, pressure is mounting on the federal government to intervene to bring down fuel prices.

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