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Latest news: Economy, Business and Finance

Penfolds maker focuses on top drops as tastes shift

Penfolds maker focuses on top drops as tastes shift

Treasury Wine Estates believes its future lies in focusing on its top 10 "power" brands, including its flagship Penfolds reds, to improve shareholder returns.

Australia to host Asia-Pacific's biggest data centre

Australia to host Asia-Pacific's biggest data centre

Australia to host Asia-Pacific's biggest data centre

Australia to host Asia-Pacific's biggest data centre

Bitcoin miner turned AI data centre company IREN Limited has announced it will build a massive 800 megawatt hub, supporting hundreds of jobs in one state.

'Fig leaf' tariffs blasted as US fires fresh tax salvo

'Fig leaf' tariffs blasted as US fires fresh tax salvo

'Fig leaf' tariffs blasted as US fires fresh tax salvo

'Fig leaf' tariffs blasted as US fires fresh tax salvo

A new round of US tariffs has generated a rare moment of political unity in Australia, with the government and opposition pushing back on the proposed changes.

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Liberals mull Greens alliance to kill off tax changes

Liberals mull Greens alliance to kill off tax changes

An unlikely political alliance could put the government's contentious changes to negative gearing and the capital gains tax discount in jeopardy.

Officials turn to AI to speed up sexual assault claims

Officials turn to AI to speed up sexual assault claims

Department of Social Services officials says artificial intelligence is being used to speed up processing times for thousands of applications.

Navy chief corrects 'insulting' claim about personnel

Navy chief corrects 'insulting' claim about personnel

Incoming defence force chief Mark Hammond has clarified the role played by Australians on board a US submarine when it sank an Iranian boat as part of its war.

Global economic body weighs in on Australian rate rises

Global economic body weighs in on Australian rate rises

The OECD expects Australia's economic growth rate to slow to 1.8 per cent in 2027, which might require the Reserve Bank to lower interest rates.

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Aussie shares bounce as rate hike fears ease for now

Aussie shares bounce as rate hike fears ease for now

Aussie shares bounce as rate hike fears ease for now

Aussie shares bounce as rate hike fears ease for now

Miners, energy stocks and banks have helped the ASX stage a relief rally after weak GDP results boosted the odds of the Reserve Bank keeping rates on hold.

Data centre boom fails to boot up lagging economy

Data centre boom fails to boot up lagging economy

Data centre boom fails to boot up lagging economy

Data centre boom fails to boot up lagging economy

A fourth Reserve Bank rate hike is still on the cards for 2026, despite a slowdown in economic growth, falling productivity and high labour costs.

'Need to do more': PM pleads case for budget tax change

'Need to do more': PM pleads case for budget tax change

'Need to do more': PM pleads case for budget tax change

'Need to do more': PM pleads case for budget tax change

Taxpayers have been working against first home buyers at auctions due to generous concessions, the prime minister says.

New data lights up enormity of tobacco black market

New data lights up enormity of tobacco black market

New data lights up enormity of tobacco black market

New data lights up enormity of tobacco black market

New wastewater analysis of nicotine consumption in Australia shows black market tobacco makes up a much larger share of sales than previously thought.

Big lottery operator plans to step up the fun factor

Big lottery operator plans to step up the fun factor

Big lottery operator plans to step up the fun factor

Big lottery operator plans to step up the fun factor

The company that runs Powerball believes its digital operations have done a poor job of capturing the fun and joy of playing the lottery.

Shifting gears: electric cars surge during fuel crisis

Shifting gears: electric cars surge during fuel crisis

Shifting gears: electric cars surge during fuel crisis

Shifting gears: electric cars surge during fuel crisis

Australian motorists bought a record number of electric and hybrid vehicles for the third month in a row, while petrol and diesel vehicle sales slowed.

'Scambling': the scam on the rise catching out punters

'Scambling': the scam on the rise catching out punters

'Scambling': the scam on the rise catching out punters

'Scambling': the scam on the rise catching out punters

Australia's biggest telco is ramping up its defences against "scambling" - one of the fastest-growing scams used by bad actors trying to steal your money.

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Tardy approvals leaving clean energy dollars in limbo

Australia's most populous state and biggest energy user still ranks among the slowest approval times for renewables, suggesting further reform is needed.

Unsafe toys reaching kids hands through online giants

Online retailers like Amazon and Temu are continuing to stock potentially unsafe products targeted at children and infants, consumer advocates claim.

CSIRO moves ahead with plan to cut hundreds of jobs

Hundreds of job losses will go ahead at the national science agency, as officials revealed during parliamentary hearings the plan is in its final stages.

Australian shares pare losses as mining stocks bounce

The ASX has edged lower for a second session as concerns about Australia's economic growth and the ongoing Persian Gulf conflict unnerve investors.

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System that cancelled welfare payments taken offline

The government's targeted compliance framework unlawfully cancelled welfare payments for almost 1000 people.

Interest rate impact hits housing approval levels

The number of new homes being approved fell once again during April, and the Reserve Bank is being blamed for the downturn.

'Unexplained gap' in case against ex-Rex directors

Four former regional airline directors will soon know their fate as the corporate watchdog's case against them draws to a close.

Businesses still in dark on tax carve outs from budget

Business owners are still yet to find out what exemptions could apply to them in changes to capital gains tax.

Minimum wage tops $1000 a week, stoking inflation fears

Millions of workers on industry awards will get an annual pay rise and minimum wage earners even more, but economists warn the raises could fuel inflation.

'Gut punch': beer production to end at brewery's home

James Boag's will stop making beer at its Tasmanian home, with its owner blaming declining sales and rising costs.

Watchdog flooded with complaints as dry spell persists

There has been a sharp increase in the number of people being dobbed in for misusing water as a state experiences ongoing drought.

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