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Latest news: Economy

Australia's Silicon Valley wins over cashed-up firms

Australia's Silicon Valley wins over cashed-up firms

Big-name firms including Afterpay and Cash App are moving into a precinct designated as a hub for Australian technology innovation.

'Let me out': Aussies need help with subscription traps

'Let me out': Aussies need help with subscription traps

'Let me out': Aussies need help with subscription traps

'Let me out': Aussies need help with subscription traps

Most Australians have struggled to cancel a subscription and some have given up entirely, a report has warned amid calls for legal reforms.

Long COVID cost economy $9.6b in lost work hours

Long COVID cost economy $9.6b in lost work hours

Long COVID cost economy $9.6b in lost work hours

Long COVID cost economy $9.6b in lost work hours

Research shows long COVID meant about 100 million work hours were missed in 2022, costing the Australian economy billions.

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Hey big spender: home prices soar in Olympics host city

Hey big spender: home prices soar in Olympics host city

The launch of an eye-watering penthouse development targeting ultra-wealthy buyers is a sign of the times in one of Australia's hottest real estate markets.

Amazon tests AI for audiobooks but new rules are coming

Amazon tests AI for audiobooks but new rules are coming

Amazon is testing AI-generated voices for audiobooks in the absence of guidance, its executives say, as government officials reveal AI rules are in the works.

50c fare trial produces near pre-pandemic patronage

50c fare trial produces near pre-pandemic patronage

Commuters have jumped on a six-month trial of near-free public transport fares with patronage levels close to pre-pandemic levels.

Cybersecurity worker shortage could put Aussies at risk

Cybersecurity worker shortage could put Aussies at risk

Australia does not have enough cybersecurity specialists to protect consumers from further data breaches, a report warns, amid calls for greater training.

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'Fighting for crumbs' as Australia forgoes wealth taxes

'Fighting for crumbs' as Australia forgoes wealth taxes

'Fighting for crumbs' as Australia forgoes wealth taxes

'Fighting for crumbs' as Australia forgoes wealth taxes

The wealth of Australia's richest 200 people has grown to almost a quarter of national gross domestic product, new analysis shows.

Beware of economic 'false prophets', warns Reserve Bank

Beware of economic 'false prophets', warns Reserve Bank

Beware of economic 'false prophets', warns Reserve Bank

Beware of economic 'false prophets', warns Reserve Bank

Reserve Bank deputy governor Andrew Hauser says projecting future movements in the economy is inherently uncertain and overconfidence is a red flag.

Budgets running on fumes as car costs outpace inflation

Budgets running on fumes as car costs outpace inflation

Budgets running on fumes as car costs outpace inflation

Budgets running on fumes as car costs outpace inflation

Transport is becoming an even bigger household expense, with research showing costs grew by more than 10 per cent over the past year.

Buyer beware goes out the door in rush to secure a home

Buyer beware goes out the door in rush to secure a home

Buyer beware goes out the door in rush to secure a home

Buyer beware goes out the door in rush to secure a home

Building and pest inspections are being abandoned by desperate property buyers challenged by high prices and scarcity of homes on the market.

Price cuts may recharge Aussie electric vehicle market

Price cuts may recharge Aussie electric vehicle market

Price cuts may recharge Aussie electric vehicle market

Price cuts may recharge Aussie electric vehicle market

Some of Australia's biggest electric vehicle brands have cut the price of their models, with one setting a record cost for low-emission cars.

Door swings shut on rate rise following inflation data

Door swings shut on rate rise following inflation data

Door swings shut on rate rise following inflation data

Door swings shut on rate rise following inflation data

Australia's inflation rate has clocked its first annual increase in 18 months but borrowers can breath easy as it was unlikely to trigger another rate hike.

Industry calls for $3b fund to clean dirty big trucks

Industry calls for $3b fund to clean dirty big trucks

Industry calls for $3b fund to clean dirty big trucks

Industry calls for $3b fund to clean dirty big trucks

A big investment will be needed to put more heavy-duty electric trucks on the road, an industry group says, as well as changes to support cleaner fuel.

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Pivotal inflation print to set scene for rates call

Eyes will be fixed on quarterly inflation data which could land hot enough to trigger a rate hike at a time when other advanced economies are talking cuts.

Baby drought as house prices push parents out of cities

Australians are having less babies and the fertility plunge is being blamed on high housing costs with analysis showing parents are being pushed to the fringes.

Calls for law as AI rogues plunder Australian creatives

One actor's voice was cloned after producers cancelled his contract while another's was used in a pornographic ad without her consent, an AI inquiry has heard.

Financial worries still weighing on consumer mood

High inflation continues to frustrate households, keeping consumer confidence in the doldrums and Labor struggling to maintain favour with voters.

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Online shopping spree despite cost-of-living crisis

Australians are still turning to online retail therapy despite household spending slowing due to cost-of-living pressures.

Preschool teachers push for pay, parents get fee relief

While preschool teachers argue for more pay, the NSW government is talking up subsidies as it tries to boost enrolments in a sector struggling for staff.

Demography is destiny: Tassie plan to boost population

Tasmania has unveiled a smorgasbord of incentives to retain and entice young people to live in the island state as it grapples with an ageing population.

Wanted: 200,000 Aussies to design, deploy and sell AI

Artificial intelligence technology will create 200,000 jobs in Australia by the end of the decade, a report has found, amid calls for greater training.

Premier to pocket $500,000 as MPs handed pay bump

Victorian MPs have been awarded a 3.5 per cent salary bump, pushing Premier Jacinta Allan's annual pay package close to half a million dollars.

Nine to cull 200 jobs in latest mass media lay-offs

The publisher of The Sydney Morning Herald and The Age plans to trim its staff by about four per cent after Meta declined to renew a lucrative content deal.

'Whole series of data' before next rates call: RBA

The Reserve Bank's outlook on inflation is little changed and more data is needed to build a fuller picture of the economy, the deputy governor says.

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