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The Latest News from economy, business and finance

Gas utility backs Beetaloo as part of energy transition

Gas utility backs Beetaloo as part of energy transition

A group of shareholders is challenging Australia's biggest gas pipeline operator on climate disclosure, accusing APA Group of being in breach of commitments.

Iluka weighs rare earths expansion as profit slides

Iluka weighs rare earths expansion as profit slides

Iluka weighs rare earths expansion as profit slides

Iluka weighs rare earths expansion as profit slides

A critical minerals company says talks with the federal government are "very well-advanced" as it seeks more support to get a rare earths refinery built.

Call for 'big shift' in energy use to water down demand

Call for 'big shift' in energy use to water down demand

Call for 'big shift' in energy use to water down demand

Call for 'big shift' in energy use to water down demand

Smarter hot water systems could be the biggest and cheapest way to slash household power bills by shifting peak demand from pricey, carbon-intensive evenings.

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Rate-cut hopes hit brick wall as RBA cements stance

Rate-cut hopes hit brick wall as RBA cements stance

Borrowers are being warned to not bank on any short-term relief on their mortgages as the RBA talks down hopes of an interest rate cut in 2024.

Vicinity seals largest Aussie retail deal for 2024

Vicinity seals largest Aussie retail deal for 2024

Retail property group Vicinity Centres has acquired a 50 per cent stake in one of the biggest shopping centres on the west coast.

Resources bellwether warns of clean energy constraints

Resources bellwether warns of clean energy constraints

Contracting group Monadelphous, a bellwether for energy and mining activity, says labour shortages continue and warns of barriers to decarbonisation.

Aussie shares edge higher as winning streak hits seven

Aussie shares edge higher as winning streak hits seven

The ASX200 finished up 0.1 per cent, as gains by the big banks and goldminers outweighed losses by the big iron ore miners, a2 Milk and Reece.

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Iron ore price drop sounds budget alarm bells

Iron ore price drop sounds budget alarm bells

Iron ore price drop sounds budget alarm bells

Iron ore price drop sounds budget alarm bells

David Littleproud has cautioned the government to keep an eye on its spending as China forecasts worsening demand for Australia's most important export.

BlueScope backs Port Kembla steelworkers amid downturn

BlueScope backs Port Kembla steelworkers amid downturn

BlueScope backs Port Kembla steelworkers amid downturn

BlueScope backs Port Kembla steelworkers amid downturn

A major steelmaker warns of tough conditions as it braces for rising electricity, gas and labour costs amid a stubbornly soft home building market.

Servo chain Ampol slashes dividend, fuel volumes fall

Servo chain Ampol slashes dividend, fuel volumes fall

Servo chain Ampol slashes dividend, fuel volumes fall

Servo chain Ampol slashes dividend, fuel volumes fall

Energy company Ampol has slashed its interim dividend on lower fuel volumes, tanking its share price, but signalled a return to normal at its refinery.

Long COVID cost economy $9.6b in lost work hours

Long COVID cost economy $9.6b in lost work hours

Long COVID cost economy $9.6b in lost work hours

Long COVID cost economy $9.6b in lost work hours

Research shows long COVID meant about 100 million work hours were missed in 2022, costing the Australian economy billions.

Meeting minutes to show RBA dancing to its own beat

Meeting minutes to show RBA dancing to its own beat

Meeting minutes to show RBA dancing to its own beat

Meeting minutes to show RBA dancing to its own beat

Markets will turn their attention to the Reserve Bank's latest board meeting minutes but they might be better off looking further afield for new insights.

Free land offer to lure new supermarkets to open in NT

Free land offer to lure new supermarkets to open in NT

Free land offer to lure new supermarkets to open in NT

Free land offer to lure new supermarkets to open in NT

Free land and major project status are being promised to a new supermarket chain by the NT government to help increase competition and drive down prices.

Cashless community still needs access to notes, coins

Cashless community still needs access to notes, coins

Cashless community still needs access to notes, coins

Cashless community still needs access to notes, coins

Cash may no longer be king but those who want to use it to buy a coffee or store wealth should be able to do so, the nation's payments tsar says.

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Owner distress as companies plunge into administration

The head of Australia's corporate watchdog says in the past financial year a record number of businesses have been placed into administration.

Building costs in the frame for ongoing housing crisis

The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.

Cost question remains after Qld deal with Rio Tinto

The Queensland government has struck a deal with mining giant Rio Tinto to keep a major aluminium smelter open but the question of cost remains.

More gas diverts clean energy investment, critics warn

Critics slam an inquiry's claim that Western Australia will need new sources of gas to meet domestic requirements for decades, even as the state decarbonises.

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Mixed jobs data gives RBA more food for thought

Record jobs participation will keep the Reserve Bank wary of cutting rates, despite unemployment rising in July to the highest level since November 2021.

Telstra open to Foxtel Group sale, profit drops 12.8%

Telstra CEO Vicki Brady has cautioned that News Corp's decision making around selling Foxtel, of which the telco owns 35 per cent, was in its early stages.

Origin Energy eyes gas imports, longer life for Eraring

Electricity and gas giant Origin Energy warns Australia will need to import gas to meet domestic demand and taxpayers may have to pay to burn coal for longer.

Australian tourist numbers back to pre-pandemic levels

The number of Australians returning from holidays has rebounded to levels not seen since the COVID-19 pandemic.

Wear and tear keeps rents lower over time: report

Properties tend to command a lower rent as they age and new homes with modern features come online, a leading economic think tank says.

Profits plummet at Kerry Stokes' Seven West Media

As Seven West Media contends with allegations of a toxic workplace culture at its television network, profits plunge 69 per cent to $45 million.

Shareholders still cash in as CBA profit slips to $9.5b

Commonwealth Bank's net profit after tax was down six per cent to $9.5 billion in 2023/24 but Australia's biggest bank is increasing its dividend.

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