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Latest news: Economy

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.

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

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

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

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.

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Fading economy yet to unlock rate cuts for watchful RBA

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

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 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.

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.

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'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.

Hey big spender: home prices soar in Olympics host city

Hey big spender: home prices soar in Olympics host city

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 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

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

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.

'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.

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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

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

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

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.

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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

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.

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.

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.

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