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Latest news: Economy

Accounting error blow to budget as sales counted twice

Accounting error blow to budget as sales counted twice

The NSW government has been dealt a $1 billion blow ahead of its second budget after the discovery of an accounting error going back years.

Aussies spend big on cars but choose fuel-saving models

Aussies spend big on cars but choose fuel-saving models

Aussies spend big on cars but choose fuel-saving models

Aussies spend big on cars but choose fuel-saving models

Australian drivers bought a record number of new vehicles in May, with many choosing to reduce their fuel costs by choosing hybrid and electric models.

Brisvegas is second most expensive after Emerald City

Brisvegas is second most expensive after Emerald City

Brisvegas is second most expensive after Emerald City

Brisvegas is second most expensive after Emerald City

Brisbane is now the second most expensive city to buy a house, leapfrogging the nation's capital Canberra to sit behind Sydney for the first time since 1997.

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Why Google is recruiting Aussies for AI breakthroughs

Why Google is recruiting Aussies for AI breakthroughs

Some of Google's most promising artificial intelligence projects are happening in Australia, the firm's research boss says, and the results could change lives.

Discussions ongoing to reduce airport train travel cost

Discussions ongoing to reduce airport train travel cost

Discussions to reduce fares on privately-operated trains to Brisbane airport are underway but won't drop to 50c during a public transport trial in Queensland.

All eyes on inflation data for clues to next rates move

All eyes on inflation data for clues to next rates move

Inflation numbers due this week will capture the attention of financial markets as the central bank continues to weigh the effectiveness of its rate hikes.

Wages supported by cost-of-living measures: employers

Wages supported by cost-of-living measures: employers

Employer groups are arguing the government's cost-of-living relief should be taken into account for any boost to the minimum wage for the lowest paid workers.

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Workers taking on second jobs as cost pressures build

Workers taking on second jobs as cost pressures build

Workers taking on second jobs as cost pressures build

Workers taking on second jobs as cost pressures build

The soaring cost of living is leading to more Australians staying in their job or taking on additional work, according to fresh job data.

Slower US consumer price growth boosts rate cut hopes

Slower US consumer price growth boosts rate cut hopes

Slower US consumer price growth boosts rate cut hopes

Slower US consumer price growth boosts rate cut hopes

Expectations for an interest rate cut in 2024 have been given a boost by US consumer prices increasing less than expected in April.

Rising costs won't stop that special bouquet for mum

Rising costs won't stop that special bouquet for mum

Rising costs won't stop that special bouquet for mum

Rising costs won't stop that special bouquet for mum

Florists are preparing for the surge of sales ahead of Mother's Day this Sunday with people expected to spend about $1 billion on presents for their loved ones.

Australia's love of big vehicles comes with big costs

Australia's love of big vehicles comes with big costs

Australia's love of big vehicles comes with big costs

Australia's love of big vehicles comes with big costs

The popularity of large SUVs and utes is driving higher costs, a report reveals the average household's annual spending on transport has risen by 10 per cent.

Australia could cut global emissions with green metals

Australia could cut global emissions with green metals

Australia could cut global emissions with green metals

Australia could cut global emissions with green metals

Australia could remove much more than its share of greenhouse gas emissions by using its natural advantages, a business leader argues.

Grocery prices temper as supermarket scrutiny grows

Grocery prices temper as supermarket scrutiny grows

Grocery prices temper as supermarket scrutiny grows

Grocery prices temper as supermarket scrutiny grows

Price inflation has moderated as the supermarkets contend with criticism, including a government report that recommends breaking up the industry's big players.

Price of Aussie farmland set for slower growth

Price of Aussie farmland set for slower growth

Price of Aussie farmland set for slower growth

Price of Aussie farmland set for slower growth

After three consecutive years of double-digit growth, momentum in the price of Australia's farms will slow, with cropping land to outperform grazing land.

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Rooftop solar, electric cars could solve energy puzzle

Savvy households could lead Australia's transition to clean energy with solar panels, batteries and electric cars, a report has found, but reforms are needed.

New arrivals feeling unfair blame for rental crisis

A poll shows almost half of all migrants and refugees feel they are copping the brunt of Australia's housing affordability crisis.

Great fracking day: territory inks mega gas deal

The NT will buy gas fracked from the Beetaloo basin in a nine-year deal the government claims will boost the territory's economy and ensure cheaper power bills.

Global tensions, China slowdown casts budget shadow

The threat of escalating conflict in the Middle East has cast further uncertainty over Australia's pre-budget economic outlook, the treasurer has warned.

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Critical minerals loan will help export sector grow: PM

Anthony Albanese says a $400 million loan to the critical minerals sector will help expand exports into nearby southeast Asia.

TikTok says it boosts economy by $1.1b amid ban threat

TikTok delivers a significant economic boost to the Australian economy, a report has found, in what experts say is an attempt to prove its worth.

Tuning out: party ends for a third of music festivals

A landmark report into Australia's live music festival sector has revealed at least one in three events lose money.

Cattle prices to soar but steaks shouldn't cost more

Analysts say cattle prices are set to soar over the next two years but the cost of beef in the supermarket may not break the bank.

Musicians singing the blues in an underpaid industry

As the nation's live music sector struggles to bounce back post-pandemic, a survey has revealed the extent to which musicians are being short-changed.

Wage review should consider tax cuts: retail bosses

The retail sector wants the workplace umpire to be more conservative as it considers the size of the next annual pay rise for millions of low-paid workers.

Armaguard seeks new talks after $26m deal rejected

Armaguard is still keen to negotiate a cash injection from some of the nation's biggest banks and retailers after rejecting a $26 million deal.

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