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Latest news: Economy

US approves Australian Ioneer's Nevada lithium mine

US approves Australian Ioneer's Nevada lithium mine

The Biden administration has given the nod to an Australian lithium mine in Nevada despite concerns for a rare flower at the site.

'No doubt' inflation is moderating: finance minister

'No doubt' inflation is moderating: finance minister

'No doubt' inflation is moderating: finance minister

'No doubt' inflation is moderating: finance minister

Much is riding on quarterly inflation data out next week as Australia's slow progress by international standards has Labor defending its economic record.

Cost of living woes trump worker satisfaction

Cost of living woes trump worker satisfaction

Cost of living woes trump worker satisfaction

Cost of living woes trump worker satisfaction

Eighty per cent of Australian employees are more concerned about living costs than being satisfied in their work.

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Labour shortages still 'number one' concern: RBA

Labour shortages still 'number one' concern: RBA

Firms are struggling to retain workers as activity from mining, infrastructure projects and even the 2032 Brisbane Olympics keeps demand for labour high.

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

Digital payment services are under increasing pressure as Aussies ditch cash and they are mostly rising to the task, a Reserve Bank report has found.

Hard-to-miss petrol pricing a 'proxy' for inflation

Hard-to-miss petrol pricing a 'proxy' for inflation

Households are constantly reminded of the price of filling up and the Reserve Bank says that's why petrol plays an outsized role in expectations for inflation.

Rental crisis is everywhere, dire for essential workers

Rental crisis is everywhere, dire for essential workers

The rental crisis is now in every community, as the nation's essential workers struggle to find affordable homes to rent and monthly dwelling approvals drop.

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Supermarkets tight-lipped on Tim Tam price discrepancy

Supermarkets tight-lipped on Tim Tam price discrepancy

Supermarkets tight-lipped on Tim Tam price discrepancy

Supermarkets tight-lipped on Tim Tam price discrepancy

Australia's major supermarkets say their suppliers are being hit by inflation which is trickling through to prices at the checkout.

Green ideals meet hip-pocket pain as power prices surge

Green ideals meet hip-pocket pain as power prices surge

Green ideals meet hip-pocket pain as power prices surge

Green ideals meet hip-pocket pain as power prices surge

Young Australians are most likely to pay a premium to access renewable energy at home, a study has found, but high energy prices are turning off others.

Hybrid vehicles in fast lane, as petrol cars slow down

Hybrid vehicles in fast lane, as petrol cars slow down

Hybrid vehicles in fast lane, as petrol cars slow down

Hybrid vehicles in fast lane, as petrol cars slow down

Australians are buying fewer new cars as the economy bites but hybrid vehicles are bucking the trend, sales figures have revealed.

Bigger budget surplus not 'an end in itself'

Bigger budget surplus not 'an end in itself'

Bigger budget surplus not 'an end in itself'

Bigger budget surplus not 'an end in itself'

Treasurer Jim Chalmers says a better-than-expected $15.8 billion budget surplus doesn't mean cost-of-living measures have been forgotten.

Pain at the pump, Australians hit by fuel price hikes

Pain at the pump, Australians hit by fuel price hikes

Pain at the pump, Australians hit by fuel price hikes

Pain at the pump, Australians hit by fuel price hikes

Australians in major capital cities are being exposed to higher fuel prices for longer, new data shows.

Million-dollar madness: record suburbs in seven figures

Million-dollar madness: record suburbs in seven figures

Million-dollar madness: record suburbs in seven figures

Million-dollar madness: record suburbs in seven figures

More suburbs than ever have median house or unit prices of more than $1 million, with economists predicting the number will continue to grow.

War of words over inflation as national debt dives

War of words over inflation as national debt dives

War of words over inflation as national debt dives

War of words over inflation as national debt dives

Australia lags behind western nations in tackling inflation, the shadow treasurer says, as the Reserve Bank mulls whether to lower interest rates.

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Labor, expert lash 'crazy' call to step in over rates

Calls for Canberra to intervene with the Reserve Bank to lower interest rates to get financial reforms over the line have been rejected by Labor.

Fading economy yet to unlock rate cuts for watchful RBA

The economy might be slowing but the Reserve Bank chief wants inflation to moderate further before opening the door to interest rate cuts.

Cost of living puts the brakes on new vehicle sales

Vehicle sales have slowed down in Australia, with passenger and petrol cars taking significant hits, but the industry says it is still a "positive result".

Rising livestock prices behind agricultural growth

Rising red meat prices and strong seasonal conditions are driving growth, with agricultural production expected to hit $86 billion this financial year.

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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

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

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

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 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

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

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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