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Latest news: Economy, Business and Finance

Million-dollar fines for tax leaks after PwC scandal

Million-dollar fines for tax leaks after PwC scandal

Consultancy firms and other companies will face penalties of up to $5.5 million under a NSW bill aimed at preventing leaks of confidential tax information.

Australia's answer to Silicon Valley are tech clusters

Australia's answer to Silicon Valley are tech clusters

Australia's answer to Silicon Valley are tech clusters

Australia's answer to Silicon Valley are tech clusters

Top tech innovators are scattered through 96 "tech clusters", a report reveals, including four major hubs expected to create the jobs of tomorrow.

Rare earths supply chain deal to usurp China's monopoly

Rare earths supply chain deal to usurp China's monopoly

Rare earths supply chain deal to usurp China's monopoly

Rare earths supply chain deal to usurp China's monopoly

Rare earths from Western Australia will be processed in Texas for defence and industrial needs under an updated contract with the United States government.

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Low prices make Lynas production record less magnetic

Low prices make Lynas production record less magnetic

Less demand for minerals used in electric cars and industrial magnets have taken the shine off a June quarter production record for rare earths leader Lynas.

Mixed quarter for Origin with Eraring's future unknown

Mixed quarter for Origin with Eraring's future unknown

No decision has been taken by Origin Energy on keeping coal-fired power station Eraring running for longer, but some say it's not needed to keep the lights on.

Close interest rate call looms as signs point to hold

Close interest rate call looms as signs point to hold

It's unlikely to be an easy decision for the Reserve Bank, but most pundits expect the central bank to keep the cash rate on hold at its next board meeting.

US to help Australia build guided missiles by 2025

US to help Australia build guided missiles by 2025

The United States is "racing" to accelerate Australia's access to priority military weapons and will help the local production of guided missiles.

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Women in offshore wind join forces to build new energy

Women in offshore wind join forces to build new energy

Women in offshore wind join forces to build new energy

Women in offshore wind join forces to build new energy

Australian offshore wind projects will need large numbers of already in-demand workers, but encouraging more women into the sector could help plug gaps.

Crown switches focus to problem gambling prevention

Crown switches focus to problem gambling prevention

Crown switches focus to problem gambling prevention

Crown switches focus to problem gambling prevention

Crown says it is shifting its focus away from targeting problem gamblers and broadening its agenda to preventing gambling harm.

Consultants need 'breaking up' to stop conflicts

Consultants need 'breaking up' to stop conflicts

Consultants need 'breaking up' to stop conflicts

Consultants need 'breaking up' to stop conflicts

A parliamentary inquiry probing the NSW government's use of consulting services has been told the big firms should be broken up to help stop misconduct.

Sinking retail trade bolsters case for cash rate pause

Sinking retail trade bolsters case for cash rate pause

Sinking retail trade bolsters case for cash rate pause

Sinking retail trade bolsters case for cash rate pause

A sharp drop off in retail sales and weakening inflation could keep the Reserve Bank on the sidelines at the next board meeting.

Health workers divided as NSW pay fights heat up

Health workers divided as NSW pay fights heat up

Health workers divided as NSW pay fights heat up

Health workers divided as NSW pay fights heat up

A deal to deliver 70,000 NSW health workers a $3500 pay rise has narrowly won the support of union members as other unions plot their own wage battles.

Assange supporters call for release ahead of US talks

Assange supporters call for release ahead of US talks

Assange supporters call for release ahead of US talks

Assange supporters call for release ahead of US talks

Australian ministers have been urged to raise the case of Julian Assange when they meet their US counterparts for annual talks.

Minns 'concerned' about rise in Metricon complaints

Minns 'concerned' about rise in Metricon complaints

Minns 'concerned' about rise in Metricon complaints

Minns 'concerned' about rise in Metricon complaints

Premier Chris Minns says he is worried about an increase in complaints about major residential builder Metricon and has backed the watchdog to act.

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Star workers raise the stakes in fight over casino tax

Workers from Sydney's embattled Star casino have taken their campaign against a NSW government plan to lift taxes in the sector to state parliament.

Scams on the rise as financial complaints balloon

Nina Merrilees had little reason to suspect she was being scammed when her daughter messaged from overseas, saying her phone was broken and asking for money.

European Central Bank raises key rate to historic high

The European Central Bank bank has raised interest rates by a quarter of a percentage point - its ninth consecutive hike.

Complaints peak over financial distress, scams, delays

Unhappy customers have lodged a record number of complaints against financial organisations over monetary stress, scams and insurance delays.

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Smaller businesses hit hard by waning economy

Smaller businesses are bearing the brunt of the deteriorating economy, with conditions looking less optimistic for firms with fewer employees.

Allkem posts record production as world goes electric

Lithium miner Allkem expects a tight market for battery minerals as it posts a "significant" improvement in the grade of ore recovered in Western Australia.

'Wall of money' for Twiggy's global green hydrogen play

Fortescue Metals Group has pledged to continue to invest in green technologies as key investment decisions loom for billionaire Andrew Forrest and his board.

'Critical moment' for Australia in ore-some energy race

Demand for iron ore and coal may ebb but critical minerals can provide for future generations, unless labour laws and investor uncertainty mess it up, BHP says.

Hiking coal tax likely won't lift power bills, NSW says

NSW is considering lifting the tax it charges on mined coal but has pointed to advice that any increase will have a negligible effect on power prices.

US Fed raises rates to highest level in 22 years

The US central bank has raised interest rates by a quarter of a percentage point, saying inflation in the country remains elevated.

Rooftop solar surge eases wholesale electricity prices

Rooftop solar is reducing wholesale electricity prices but the market operator warns more transmission is needed to keep the lights on in a post-coal system.

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