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Latest news: Economy, Business and Finance

Welcome progress on inflation as rate hikes take effect

Welcome progress on inflation as rate hikes take effect

Cooler than expected inflation might have lowered the odds of an RBA rate hike, but an economist warns the price of one major item could soon rise.

Former Snowy Hydro boss shocked over cost blowout

Former Snowy Hydro boss shocked over cost blowout

Former Snowy Hydro boss shocked over cost blowout

Former Snowy Hydro boss shocked over cost blowout

Reports that the cost of the troubled Snowy 2.0 project has blown out to $12 billion has come as shock to a former top executive.

Corruption damages national economy: minister

Corruption damages national economy: minister

Corruption damages national economy: minister

Corruption damages national economy: minister

Assistant Treasury Minister Andrew Leigh says corruption not only diminishes society but has a massive economic cost at a national and global level.

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Senate push to force minister's hand on flight decision

Senate push to force minister's hand on flight decision

The government will face a push to reveal documents pertaining to the decision to block Qatar Airways from flying extra routes after being lobbied by Qantas.

BlueScope fined record $57m for cartel conduct: ACCC

BlueScope fined record $57m for cartel conduct: ACCC

Steel manufacturing giant BlueScope has been fined a record $57 million for attempting to manipulate prices through what is known as cartel conduct.

Confidence edges higher but consumers remain wary

Confidence edges higher but consumers remain wary

A pause on interest rate hikes has failed to substantially lift consumer spirits with a key index remaining below levels seen during COVID-19 lockdowns.

Fresh approach to running the rule over public programs

Fresh approach to running the rule over public programs

The government says its new unit to evaluate public programs will do a better job of helping fine-tune policies than spending big on consultants.

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Chevron's WA offshore gas fields face industrial action

Chevron's WA offshore gas fields face industrial action

Chevron's WA offshore gas fields face industrial action

Chevron's WA offshore gas fields face industrial action

Chevron Australia's offshore gas fields in the country's northwest face industrial action next week over pay and conditions, posing a risk to global supplies.

Google and Apple hit back at anti-competition claims

Google and Apple hit back at anti-competition claims

Google and Apple hit back at anti-competition claims

Google and Apple hit back at anti-competition claims

Two of the world's largest companies have defended accusations their app stores are driving out competition with smaller developers.

$3b WA energy grid boost to spark renewables transition

$3b WA energy grid boost to spark renewables transition

$3b WA energy grid boost to spark renewables transition

$3b WA energy grid boost to spark renewables transition

Prime Minister Anthony Albanese has announced WA's share of a multibillion-dollar plan to modernise energy grids as Australia transitions to renewables.

Matildas mania nets retail goals after scoreless sales

Matildas mania nets retail goals after scoreless sales

Matildas mania nets retail goals after scoreless sales

Matildas mania nets retail goals after scoreless sales

The Women's World Cup has boosted spending on catering and takeaway food following a flat end-of-year sales period for retailers.

Darling no more: AI boom passes Appen by as losses grow

Darling no more: AI boom passes Appen by as losses grow

Darling no more: AI boom passes Appen by as losses grow

Darling no more: AI boom passes Appen by as losses grow

Former tech darling Appen has suffered a massive drop in profitability but hopes it can finally catch the generative AI wave after years of missing out.

Labor scraps overblown business register project

Labor scraps overblown business register project

Labor scraps overblown business register project

Labor scraps overblown business register project

An overhaul of the government business register will not go ahead following evidence it will run massively over budget.

Wealth of data to shed light on Australian economy

Wealth of data to shed light on Australian economy

Wealth of data to shed light on Australian economy

Wealth of data to shed light on Australian economy

A speech by the incoming Reserve Bank boss and a wealth of data will provide rich insight into the state of the Australian economy.

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Virgin slams govt for rejecting extra Qatar flights

Virgin Australia's chief executive has spoken out against the federal government after it rejected Qatar Airways' bid for more flights to Australia.

More casual workers to get sick pay under Vic scheme

The Victorian government has added to the list of casual and contract jobs that can access its Sick Pay Guarantee scheme, taking the total to 400.

Crunching the numbers on climate risk without greenwash

Australian companies face mandatory climate reporting as consumers and investors demand information they can trust and action to prevent even higher costs.

Australia's nervous watch for any great fall of China

Mounting economic headwinds in China, where growth is slowing, will have major ramifications for Australia, Treasurer Jim Chalmers has warned.

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Qantas should not pay back pandemic money: Chalmers

Despite Qantas posting a record profit, Treasurer Jim Chalmers says the airline should not have to pay back money it received during the height of the pandemic.

Lithium leader Pilbara posts electrifying $2.4b profit

Pilbara Minerals reports a 326 per cent surge in net profit to $2.4 billion as the world rapidly electrifies and demands a secure supply of sustainable lithium.

Businesses want light shone on power station's future

The peak body representing businesses in NSW wants the government to clarify its position on the future of a major coal-fired power station.

Landmark report puts climate at centre of economy

Climate change and the transition to a net-zero economy lies at the heart of the Intergenerational Report released by the Albanese government.

BRICS should boost cross-border payment: China

The leaders of the BRICS bloc have agreed to encourage more local currency usage in trade as they seek to shift away from dependence on the US dollar.

Million-dollar fines for tax leaks under new NSW bill

New laws will hit consultancy firms and other companies with penalties of up to $5.5 million if they leak confidential government tax information.

Microgrids to end diesel dependency in remote areas

Remote diesel-powered communities and worksites have a tougher challenge switching to renewables, prompting a federal agency to pump millions into microgrids.

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