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Latest news: Economy, Business and Finance

EU fines Meta $A1.3b over Facebook's classified ads

EU fines Meta $A1.3b over Facebook's classified ads

Meta is expected to appeal a $A1.3 billion fine over abusive practices benefiting its classified ads on Facebook Marketplace.

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific Island nations need climate finance to top $2 billion every year in addition to existing official aid, experts warn the international climate summit.

Jobs still bright spot despite softer employment growth

Jobs still bright spot despite softer employment growth

Jobs still bright spot despite softer employment growth

Jobs still bright spot despite softer employment growth

There may be cracks appearing in the labour market but it's still strong compared to pre-pandemic norms and taking a long time to unwind.

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Climate change fuelling insurance cost-of-living crunch

Climate change fuelling insurance cost-of-living crunch

More than two-thirds of parents are worried about rising insurance costs pushed higher by climate change.

Pay growth running faster than price rises

Pay growth running faster than price rises

Workers have logged another quarter of real wage growth that, thankfully, is not strong enough to push back interest rate cuts.

'Gone backwards': Hopes fund can revive home-building

'Gone backwards': Hopes fund can revive home-building

A $900 million fund has been welcomed by economists hopeful it will modernise the construction industry where productivity has been flat for three decades.

Gas producer slams ideological folly, warns of shortage

Gas producer slams ideological folly, warns of shortage

A domestic gas producer has warned of rising power bills and energy shortages if significant headwinds, including green tape and activism, go unchallenged.

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Another 300 jobs to go as low prices close lithium mine

Another 300 jobs to go as low prices close lithium mine

Another 300 jobs to go as low prices close lithium mine

Another 300 jobs to go as low prices close lithium mine

Another lithium mine has been shuttered as Mineral Resources looks to preserve cash, joining the ranks of firms trying to survive the battery mineral's slump.

Stubborn emissions threaten to blow world carbon budget

Stubborn emissions threaten to blow world carbon budget

Stubborn emissions threaten to blow world carbon budget

Stubborn emissions threaten to blow world carbon budget

Extraordinary growth in renewable energy is not enough to offset the "humungous challenge" of Australia's fossil fuels, a carbon tracker warns.

COP29 host Azerbaijan defends oil and gas

COP29 host Azerbaijan defends oil and gas

COP29 host Azerbaijan defends oil and gas

COP29 host Azerbaijan defends oil and gas

World leaders have clashed at the UN's COP29 climate summit that's being hosted by Azerbaijan, which has a thriving oil and gas industry.

Super fund in strife over $20m in delayed payments

Super fund in strife over $20m in delayed payments

Super fund in strife over $20m in delayed payments

Super fund in strife over $20m in delayed payments

Superannuation fund Cbus has been accused of failing to process $20 million worth of death and disability claims in a timely manner.

Coles calls out 'politicisation' of cost of living

Coles calls out 'politicisation' of cost of living

Coles calls out 'politicisation' of cost of living

Coles calls out 'politicisation' of cost of living

Politicians are unfairly attacking supermarket chains to provide answers to difficult questions about inflation, grocery giant Coles says.

'It's a lifeline': relief as government hands Rex $80m

'It's a lifeline': relief as government hands Rex $80m

'It's a lifeline': relief as government hands Rex $80m

'It's a lifeline': relief as government hands Rex $80m

The federal government will provide up to $80 million to keep Rex regional routes operating, a relief for rural communities fearing for their future prosperity.

Consumer confidence rebound wobbles following Trump win

Consumer confidence rebound wobbles following Trump win

Consumer confidence rebound wobbles following Trump win

Consumer confidence rebound wobbles following Trump win

The recovery in consumer confidence is gathering steam despite a blip following the United States election result last week.

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Pacific nations don't want 'boomerang aid' for climate

As international climate negotiations begin, Pacific scholars have launched groundbreaking research to make sure their voices are heard at the top table.

Aldi banks on winning customers over opening new stores

The nearest supermarket rival to Coles and Woolworths says it's focused on trying to woo new customers rather than expanding its chain of Australian stores.

Australian economy prepared for Trump: Chalmers

Treasurer Jim Chalmers believes Australia is well placed to deal with global financial shocks despite the looming threat of US tariffs.

Trump factor unlikely to reverse clean energy momentum

The "Trump factor" is unlikely to derail renewable energy momentum, a peak body says, as data on financial commitments suggests Australia is back on target.

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Jobs market in focus as investors chew Trump triumph

Donald Trump's return is having no immediate impact on central bank inflation outlooks but domestic jobs figures could change the calculus for the RBA.

'Trump II' not the end of the world for clean energy

A second Trump presidency may be a "bump in the road" but it cannot stop the transition to clean energy the world started over 20 years ago, investors say.

Big sky, fierce summer: new line of sight for firies

Drones could help Aussies survive the "age of mega-fires" as climate change drives new fire seasons that are outpacing the disaster response of past decades.

Immigration debate looms as flashpoint in election

After a hotly-contested debate surrounding immigration in the US, Australia is being urged to discuss the issue with facts during its upcoming election.

Farmers fear being frozen out by supermarket giants

Produce growers face limited export opportunities, low bargaining power and high costs to supply Australian supermarket giants, an inquiry has heard.

'Frustrated, sceptical' consumers lose trust in grocers

Consumers doubt rising costs are totally to blame for higher grocery prices, as profits fall for manufacturers struggling to pass on surging costs.

NAB boss flags trade war risk as annual profit dips

National Australia Bank boss Andrew Irvine is worried about the risk of a trade war between the US and China, and its implications for the Australian economy.

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