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Latest news: Economy, Business and Finance

Labor's visa detention stance compared with Trump's ICE

Labor's visa detention stance compared with Trump's ICE

Rounding up people who have overstayed their visa into detention centres has been blasted as missing the mark and copying harsh immigration tactics in the US.

Struggling womenswear brand to close five stores

Four Cue stores and another operated by its sister brand, Veronika Maine, will shut as receivers try to find a buyer for the struggling women's clothing chain.

Backpackers and students lose out in migration overhaul

Backpackers and students lose out in migration overhaul

Backpackers and students lose out in migration overhaul

Backpackers and students lose out in migration overhaul

Family visas for foreign students will be curbed and overstayers detained if they don't leave Australia as part of Labor's plan to cut migration numbers.

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Aussie shares lift as Fed rate call calms bond market

Aussie shares lift as Fed rate call calms bond market

An uplift in financial stocks have helped the ASX claw back some of its recent losses, as easing oil prices and a calming bond market boosted risk sentiment.

Soft landing botched: IMF backs more rate rises

Soft landing botched: IMF backs more rate rises

The Reserve Bank should "stand ready" to raise interest rates again, as the Middle East war and poor productivity growth make it harder to get inflation down.

Loss-making vaccine maker agrees investors 'frustrated'

Loss-making vaccine maker agrees investors 'frustrated'

A listed Aussie healthcare group, under pressure after a whopping $3.7 billion loss, has acknowledged that it needs to win back the trust of shareholders.

Aussie wagyu producer raises the 'steaks' a third time

Aussie wagyu producer raises the 'steaks' a third time

An Aussie wagyu beef producer has won a global award for the third time in a row, in a show of confidence for the sector, which is the world's largest exporter.

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Fed hikes rates, defying Trump's demands

Fed hikes rates, defying Trump's demands

Fed hikes rates, defying Trump's demands

Fed hikes rates, defying Trump's demands

Just months after being selected by President Trump with an expectation that he would cut rates, US Federal Reserve chief Kevin Warsh has hiked them.

Businesses scramble for staff as migration cuts loom

Businesses scramble for staff as migration cuts loom

Businesses scramble for staff as migration cuts loom

Businesses scramble for staff as migration cuts loom

Hospitality employers say the government is cutting the sector off at the knees with a migration slowdown just as the peak holiday season approaches.

Mining rebound helps Australian shares creep higher

Mining rebound helps Australian shares creep higher

Mining rebound helps Australian shares creep higher

Mining rebound helps Australian shares creep higher

Miners and energy stocks have helped the ASX claw back some recent losses, with commodity prices supported by a weaker greenback as US bond yields retreated.

'Doing what we want': Labor stands by housing tax moves

'Doing what we want': Labor stands by housing tax moves

'Doing what we want': Labor stands by housing tax moves

'Doing what we want': Labor stands by housing tax moves

Tax changes will help boost housing supply in the long run, even though a downturn is impacting new home sales, the housing minister says.

Aussie plumbing products giant to be acquired for $3.9b

Aussie plumbing products giant to be acquired for $3.9b

Aussie plumbing products giant to be acquired for $3.9b

Aussie plumbing products giant to be acquired for $3.9b

Plumbing and heating solutions company Reliance Worldwide has agreed to be bought out by private equity giant Brookfield, giving its investors a windfall.

Mortgage applications for first homebuyers drop sharply

Mortgage applications for first homebuyers drop sharply

Mortgage applications for first homebuyers drop sharply

Mortgage applications for first homebuyers drop sharply

Mortgage applications were down 14 per cent in August, compared to August 2025, with applications by first-time homebuyers down 20.1 per cent.

Two Australian fashion retailers go into administration

Two Australian fashion retailers go into administration

Two Australian fashion retailers go into administration

Two Australian fashion retailers go into administration

An Australian fashion company, which operates two women's fashion labels, has gone into voluntary administration after almost 60 years in business.

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Shares hit 11-week low in 'horrendous' day for markets

Banks, miners and energy stocks have dragged the ASX lower, as AI uncertainty, the Iran war and dogged inflation provide a perfect storm of market headwinds.

Big four bank boss weighs in on AI's deadly risks

A major bank boss has acknowledged the disruption of AI after three of the sector's biggest voices raised concerns about its potential threat to humanity.

Middle East war increasing demand for Australian coal

In the aftermath of the war in the Middle East, coal from Australia seems a safer bet than gas from other sources, a major producer of the fossil fuel says.

Surprise downfall for rich state atop economic rankings

Queensland has emerged at the top of CommBank’s revamped State of the States report, despite the state's government copping a downgrade to its credit rating.

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Travellers facing higher airfares going into Christmas

The competition watchdog's latest quarterly report on the domestic aviation industry has some bad news for travellers.

Whyalla job losses a matter of 'timing', premier says

The closure of the Whyalla blast furnace was inevitable, but the hundreds of job losses it implies were a matter of timing, a premier has claimed.

'Race to the bottom': One Nation migration plan slammed

Business groups are piling on One Nation's plan to cut 750,000 migrants, arguing it would cripple Australia's ability to elevate its standard of living.

Aussie shares tread water as world woes dampen outlook

Surging oil prices, inflation and interest rate worries continue to dim the global economic outlook and limit earnings potential.

Iran and iPhones add to Reserve Bank's inflation pickle

Reserve Bank assistant governor Sarah Hunter says the broader global economic environment could be more inflationary as a result of the AI boom.

Aussie imaging agent to help brain cancer patients

The United States Food and Drug Administration has approved Telix Pharmaceutical's Pixclara, an imaging agent to aid in the diagnosis of brain cancer.

GST revolt continues with treasurer's 'privilege' claim

A state treasurer has appeared before the Productivity Commission, outlining his concerns about the current GST system privileging one state over others.

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