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Latest news: Economy, Business and Finance

Melbourne rail loop cost blows out to $216b: analysis

Melbourne rail loop cost blows out to $216b: analysis

Victoria's independent budget office has priced the Suburban Rail Loop project at $216 billion to build and operate, $16 billion higher than a 2022 estimate.

Woodside, Santos expansion less than super for funds

Woodside, Santos expansion less than super for funds

Woodside, Santos expansion less than super for funds

Woodside, Santos expansion less than super for funds

Some superannuation funds are reducing exposure to Woodside and Santos as members demand more climate action instead of their money bankrolling new gas fields.

Aussie green bank stumps up millions for future lithium

Aussie green bank stumps up millions for future lithium

Aussie green bank stumps up millions for future lithium

Aussie green bank stumps up millions for future lithium

An emerging battery minerals producer will get $550 million to ride out a market slump and finish developing one of the world's best lithium deposits.

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Hundreds of jobs axed with PwC to 'simplify' business

Hundreds of jobs axed with PwC to 'simplify' business

Big Four consultant PwC has made hundreds of jobs redundant and accelerated the retirements of more than 30 partners in an effort to streamline its structures.

Swifties boost spending but overall consumer pulse weak

Swifties boost spending but overall consumer pulse weak

Households are cutting back on clothing, footwear and meals to afford things they cannot do without like insurance, education - and Taylor Swift concerts.

Comm Bank customers shut out of online banking

Comm Bank customers shut out of online banking

Commonwealth Bank customers are unable to access their accounts online, with the bank posting a message that it's urgently investigating the outage.

NSW loses $1.65 billion in GST revenue carve-up

NSW loses $1.65 billion in GST revenue carve-up

NSW will be $1.65 billion worse off after its share of GST revenue was slashed from 92.4 per cent to 86.7 per cent - the largest single-year drop in 24 years.

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NSW, Queensland biggest losers in 'absurd' GST carve-up

NSW, Queensland biggest losers in 'absurd' GST carve-up

NSW, Queensland biggest losers in 'absurd' GST carve-up

NSW, Queensland biggest losers in 'absurd' GST carve-up

Victoria and Western Australia are multi-billion-dollar winners in the latest carve-up of the Goods and Services Tax , which NSW has slammed as "absurd".

Dutton floats incentives to gain nuclear social licence

Dutton floats incentives to gain nuclear social licence

Dutton floats incentives to gain nuclear social licence

Dutton floats incentives to gain nuclear social licence

Opposition Leader Peter Dutton will consider incentives to encourage community support for the nuclear plants he wants built as 'companions' to renewables.

Farmers fear for future as supermarkets crunch costs

Farmers fear for future as supermarkets crunch costs

Farmers fear for future as supermarkets crunch costs

Farmers fear for future as supermarkets crunch costs

Large numbers of family farms will be forced to close because of low prices being paid for their produce by major supermarkets, an inquiry has been told.

Climate assessment details grim risks for Australia

Climate assessment details grim risks for Australia

Climate assessment details grim risks for Australia

Climate assessment details grim risks for Australia

Australia's first climate risk assessment is grim reading and outlines the threats people could face if the nation fails to prepare well for what's ahead.

Coles faces competitive pressure from online retailers

Coles faces competitive pressure from online retailers

Coles faces competitive pressure from online retailers

Coles faces competitive pressure from online retailers

The head of one of Australia's two big supermarkets says the sector is becoming increasingly competitive and online retailers are part of the story.

WA ranked first, Vic last on economic performance: IPA

WA ranked first, Vic last on economic performance: IPA

WA ranked first, Vic last on economic performance: IPA

WA ranked first, Vic last on economic performance: IPA

A new report has ranked states on their performance across 10 economic indicators, crowning WA as the nation's best performer while Victoria came last.

Investment expert warns prices 'rollercoaster' possible

Investment expert warns prices 'rollercoaster' possible

Investment expert warns prices 'rollercoaster' possible

Investment expert warns prices 'rollercoaster' possible

Unwinding pandemic effects will cause inflation to fall quickly, a key investment strategist expects, before supply shocks keep it higher over the long term.

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Toll giant Transurban critical to upend 'unfair' system

Sydney's vast network of toll roads needs a complete restructuring to make pricing fairer and more consistent, a review has found.

Chinese ambassador says wine tariff review on track

The Chinese ambassador and the Australian trade minister are both hopeful a Chinese review into tariffs on Australian wine is moving in the right direction.

Businesses to save as government scraps tariffs

Hundreds of nuisance tariffs on everyday items like tools, clothing, dishwashers and more will be scrapped in a move that will save businesses millions.

House prices surge in years since pandemic

House prices have risen by more than 30 per cent across Australia in the four years since the outbreak of COVID-19, a report has revealed.

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Australia facing investment 'drought', review needed

Australia's peak business body is warning the nation faces an "investment drought" and could lose further economic opportunities unless changes are made.

Consumers paying the price for 'slow' data right scheme

The economy would get a $16.7 billion boost within decades and almost 50,000 new jobs if consumers could give the nod to sharing more data, economists say.

Test for consumer sector as optimism creeps back in

The state of the consumer and business sectors will be on display this week, with a speech from a Reserve Bank of Australia official also of interest.

Australian mines 'cleanest and greenest in the world'

Aussie mines are the world's cleanest and greenest, Resources Minister Madeleine King says during a quest to lure investment away from a rival commodity giant.

Fatal flaws: grim warnings about fire ant program

An inquiry aired serious concerns about efforts to eradicate fire ants - a hyper-aggressive super pest that could change what it's like to live in Australia.

Mining magnate Gutnick banned from managing businesses

Former Melbourne Demons president "Diamond" Joe Gutnick has been disqualified from managing corporations for his involvement in three failed companies.

'Often overlooked' women are the future of agriculture

Women are increasingly being recognised for their success in the agricultural sector in production, biosecurity, science and as champions of future farmers.

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