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The Latest News from economy, business and finance

Reserve Bank keeps options open on interest rates

Reserve Bank keeps options open on interest rates

Interest rates could go higher again if inflation proves stickier than expected or moves higher, the head of the Reserve Bank of Australia says.

'Barely growing': economy limping as rate pain builds

'Barely growing': economy limping as rate pain builds

'Barely growing': economy limping as rate pain builds

'Barely growing': economy limping as rate pain builds

The economy is still expanding - but only just - after households opened the purse strings for concerts and other one-off events in the March quarter.

Social media giants told to pay price, play by rules

Social media giants told to pay price, play by rules

Social media giants told to pay price, play by rules

Social media giants told to pay price, play by rules

For years, social media companies have been accused of acting above regulation but a top media boss says they must play by the same rules as everyone else.

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Wanted: funds to pollinate climate, nature start-ups

Wanted: funds to pollinate climate, nature start-ups

Investors are being tapped for funding for early-stage companies tackling the climate crisis, the energy transition, new foods and cleaner industry.

Climate change puts the heat on Aussie ski resorts

Climate change puts the heat on Aussie ski resorts

Popular Australian ski resorts could find themselves on death row without urgent action on climate change, new modelling suggests.

Mortgage defaults rise as borrowers struggle to keep up

Mortgage defaults rise as borrowers struggle to keep up

The number of borrowers experiencing financial hardship is mounting and banks have been warned to do more to help households struggling to meet repayments.

Energy storage sites earmarked to keep the lights on

Energy storage sites earmarked to keep the lights on

More power storage rather than nuclear reactors or gas will be crucial for long-term energy security, the industry says, with six more sites up for development.

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Wages bump unlikely to concern Reserve Bank: economists

Wages bump unlikely to concern Reserve Bank: economists

Wages bump unlikely to concern Reserve Bank: economists

Wages bump unlikely to concern Reserve Bank: economists

A 3.75 per cent boost to minimum wages and awards will deliver a small real gain to millions of Australian workers without throwing fuel on the inflation fire.

Strong pickings as agriculture in for ripe harvest

Strong pickings as agriculture in for ripe harvest

Strong pickings as agriculture in for ripe harvest

Strong pickings as agriculture in for ripe harvest

The gross value of Australian agriculture, fisheries and forestry is set to come in at just under $90 billion, the third-highest figure on record.

Treasury boss backs the young to navigate housing mess

Treasury boss backs the young to navigate housing mess

Treasury boss backs the young to navigate housing mess

Treasury boss backs the young to navigate housing mess

The ever-increasing cost of housing is one of the big challenges facing young people but their future is not bleak, the Treasury secretary says.

Blaming lowest-paid workers for inflation 'disgusting'

Blaming lowest-paid workers for inflation 'disgusting'

Blaming lowest-paid workers for inflation 'disgusting'

Blaming lowest-paid workers for inflation 'disgusting'

Australia's lowest-paid workers, who will soon receive a 3.75 per cent pay bump, should not be blamed for continued inflation challenges, a minister says.

Bookseller Booktopia takes desperate steps to survive

Bookseller Booktopia takes desperate steps to survive

Bookseller Booktopia takes desperate steps to survive

Bookseller Booktopia takes desperate steps to survive

Booktopia's chief executive has resigned, 50 roles are being eliminated and it is paying $660,000 to establish a $1 million debt facility at 18 per cent rates.

Billion-dollar deal the right prescription for chemists

Billion-dollar deal the right prescription for chemists

Billion-dollar deal the right prescription for chemists

Billion-dollar deal the right prescription for chemists

After drawn-out negotiations, the government and pharmacies have locked in a five-year deal that will provide an extra $3 billion to the sector.

Communities divided over renewable energy development

Communities divided over renewable energy development

Communities divided over renewable energy development

Communities divided over renewable energy development

A 12-month study of community opinions on the renewable energy rollout points to a divided nation as battle lines are drawn for another climate election.

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National accounts likely to reveal a subdued economy

The Australian economy will probably post a weak economic growth result for the first three months of 2024 to reflect ongoing interest-rate pain.

Fuel fault prompts probe after cancelled flights chaos

A refuelling issue that forced airlines to cancel almost 70 flights at Perth Airport has been resolved as attention turns to clearing a backlog of planes.

Charm offensive on Aussie carbon dump for net-zero Asia

Costly carbon capture and storage could be the price Australia must pay for retaining emissions-intensive industrial jobs without pumping out more pollution.

Supermarket inquiry slammed as 'missed opportunity'

Queensland's supermarket pricing inquiry has handed down its recommendations but the opposition has slammed it as a "missed opportunity" for real action.

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Rural Australians left up in the air as banks shut down

Up to 600 Australian towns no longer have a bank, forcing country people to go to extraordinary lengths to manage their money.

State's 'largest coal-mining proposal' under fire

Extending the life of one of NSW's biggest coal-mine operations will require steep cuts to greenhouse gas emissions elsewhere, authorities say.

Guzman y Gomez chain to serve 2nd biggest offer of 2024

Shares in Guzman y Gomez are set to begin trading on the Australian Securities Exchange as the company sets course to open new restaurants across the country.

Green bank unlocks cheap loans for home energy upgrades

Some $60 million in cheap loans is up for grabs as part of a $1 billion federal fund to encourage homeowners to install solar panels and batteries.

Big city life on the slide as people try to get by

High housing prices and cost-of-living pressures are driving an exodus from cities, data reveals, with one capital losing residents to the regions in droves.

Gas industry rejects 'leech' tag over royalty freebies

The Australian government has been accused of letting gas companies get away with daylight robbery by not applying royalties on all of the nation's gas exports.

Standard-gauge track to link solar homes, cars, gadgets

A digital spine to support a low-cost and low-carbon electricity system will connect Australians like a "standard railway gauge of solar and batteries".

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