The Business: Recent Episodes
Newson1ine@abc.net.au (ABC News)
The day's business and finance news, with the latest trends on international share and currency markets, pointing to what Australians can expect in the day ahead.
There is a growing push for more comprehensive tax reform from experts and the parliamentary crossbench.
There is a growing push for more comprehensive tax reform from experts and the parliamentary crossbench.
Australia's former ambassador to China, Dr Geoff Raby says China's economy is flagging and Xi Jinping has made a number of serious policy miscalculations.
Australia's former ambassador to China, Dr Geoff Raby says China's economy is flagging and Xi Jinping has made a number of serious policy miscalculations.
NAB Chief Currency Strategist Ray Attrill says the "left-field" UK bond market turmoil has sparked fears other issues with the potential to impact global financial markets could also be lurking below the surface.
NAB Chief Currency Strategist Ray Attrill says the "left-field" UK bond market turmoil has sparked fears other issues with the potential to impact global financial markets could also be lurking below the surface.
There are concerns casual workers not entitled to sick pay will hide COVID-19 symptoms and continue going to work now subsidies for most of them are ending.
There are concerns casual workers not entitled to sick pay will hide COVID-19 symptoms and continue going to work now subsidies for most of them are ending.
An overhaul of financial advice could make it more affordable and easier to access, but critics say it will also unwind decades of consumer protections.
An overhaul of financial advice could make it more affordable and easier to access, but critics say it will also unwind decades of consumer protections.
IMF Division Chief Harald Finger says a third of the world is headed for recession, but Australia will be spared the worst of the global downturn next year.
IMF Division Chief Harald Finger says a third of the world is headed for recession, but Australia will be spared the worst of the global downturn next year.
The are calls for a combination of in-person and online company annual general meetings to become the norm as Australia emerges from the pandemic.
The are calls for a combination of in-person and online company annual general meetings to become the norm as Australia emerges from the pandemic.
The price of petrol is set to rise further, with the end of the fuel excise reduction last month yet to flow through to most bowsers. OPEC's decision to cut oil production will also push the price up further.
The price of petrol is set to rise further, with the end of the fuel excise reduction last month yet to flow through to most bowsers. OPEC's decision to cut oil production will also push the price up further.
CBA's head of Australian economics Gareth Aird says the bank expects another rate hike but they don't have "much further to run".
CBA's head of Australian economics Gareth Aird says the bank expects another rate hike but they don't have "much further to run".
Homeowners are being warned about difficulties of getting mortgages on properties at the highest risk of extreme weather events.
A higher US dollar isn't great news for global trade, but some Australian businesses and travellers have reason to smile.
A higher US dollar isn't great news for global trade, but some Australian businesses and travellers have reason to smile.
A higher US dollar isn't great news for global trade, but some Australian businesses and travellers have reason to smile.
BlackRock's chief investment strategist for the Asia Pacific, Ben Powell says if central banks lift rates too aggressively to fight inflation, they risk causing a recession.
BlackRock's chief investment strategist for the Asia Pacific, Ben Powell says if central banks lift rates too aggressively to fight inflation, they risk causing a recession.
BlackRock's chief investment strategist for the Asia Pacific, Ben Powell says if central banks lift rates too aggressively to fight inflation, they risk causing a recession.
The RBA has slowed the pace of interest rate rises, with the sixth straight hike being 0.25 of a percentage point. The big four banks are passing the rate hike on to borrowers in full.
The RBA has slowed the pace of interest rate rises, with the sixth straight hike being 0.25 of a percentage point. The big four banks are passing the rate hike on to borrowers in full.
The RBA has slowed the pace of interest rate rises, with the sixth straight hike being 0.25 of a percentage point. The big four banks are passing the rate hike on to borrowers in full.
Interest rate hikes are continuing to hit the property market, with capital city housing markets falling by up to 6 per cent in the past three months.
Interest rate hikes are continuing to hit the property market, with capital city housing markets falling by up to 6 per cent in the past three months.
Interest rate hikes are continuing to hit the property market, with capital city housing markets falling by up to 6 per cent in the past three months.
ACY Securities chief economist Clifford Bennett says the Reserve Bank has lifted the cash rate too hard and too late.
ACY Securities chief economist Clifford Bennett says the Reserve Bank has lifted the cash rate too hard and too late.
ACY Securities chief economist Clifford Bennett says the Reserve Bank has lifted the cash rate too hard and too late.
New data from the ABS shows consumer prices rose 6.8 per cent in the year to August, slightly down from 7 per cent in the 12 months to July.
New data from the ABS shows consumer prices rose 6.8 per cent in the year to August, slightly down from 7 per cent in the 12 months to July.
New data from the ABS shows consumer prices rose 6.8 per cent in the year to August, slightly down from 7 per cent in the 12 months to July.
UK government's mini-budget sparks financial market collapse, forcing Bank of England to launch emergency measures.
UK government's mini-budget sparks financial market collapse, forcing Bank of England to launch emergency measures.
UK government's mini-budget sparks financial market collapse, forcing Bank of England to launch emergency measures.
Motorists are set for an increase of 25 cents per litre on fuel when the excise reduction ends - and prices could increase even more before the Christmas holidays.
Motorists are set for an increase of 25 cents per litre on fuel when the excise reduction ends - and prices could increase even more before the Christmas holidays.
Motorists are set for an increase of 25 cents per litre on fuel when the excise reduction ends - and prices could increase even more before the Christmas holidays.
Morningstar chief market strategist Dave Sekera says while the stock market slide has many traders running for the exit, now is the time to buy.
Morningstar chief market strategist Dave Sekera says while the stock market slide has many traders running for the exit, now is the time to buy.
Morningstar chief market strategist Dave Sekera says while the stock market slide has many traders running for the exit, now is the time to buy.
As the government looks to boost the number of Australians driving electric vehicles, experts say there's a dilemma that could hold uptake back.
As the government looks to boost the number of Australians driving electric vehicles, experts say there's a dilemma that could hold uptake back.
As the government looks to boost the number of Australians driving electric vehicles, experts say there's a dilemma that could hold uptake back.
ANZ's Greater China Chief Economist Raymond Yeung says China will choose COVID zero over economic growth
ANZ's Greater China Chief Economist Raymond Yeung says China will choose COVID zero over economic growth
ANZ's Greater China Chief Economist Raymond Yeung says China will choose COVID zero over economic growth
Australia's largest casinos have been found "unsuitable" to hold licences due to criminal allegations but so far no individuals have faced consequences.
Australia's largest casinos have been found "unsuitable" to hold licences due to criminal allegations but so far no individuals have faced consequences.
Australia's largest casinos have been found "unsuitable" to hold licences due to criminal allegations but so far no individuals have faced consequences.
As Australians board planes for long weekends, school holidays and footy finals, airlines are facing calls to guarantee compensation for flight delays and cancellations.
As Australians board planes for long weekends, school holidays and footy finals, airlines are facing calls to guarantee compensation for flight delays and cancellations.
As Australians board planes for long weekends, school holidays and footy finals, airlines are facing calls to guarantee compensation for flight delays and cancellations.
Brickworks chief executive Lindsay Partridge says housing will become "completely unaffordable" if trade shortages continue.
Brickworks chief executive Lindsay Partridge says housing will become "completely unaffordable" if trade shortages continue.
Brickworks chief executive Lindsay Partridge says housing will become "completely unaffordable" if trade shortages continue.
ANZ Chief Economist Richard Yetsenga says interest rates will go higher than what Australians are comfortable with.
ANZ Chief Economist Richard Yetsenga says interest rates will go higher than what Australians are comfortable with.
ANZ Chief Economist Richard Yetsenga says interest rates will go higher than what Australians are comfortable with.
After explosive growth in the gig economy, the government is set to introduce laws forcing minimum conditions for millions of workers employed through apps.
After explosive growth in the gig economy, the government is set to introduce laws forcing minimum conditions for millions of workers employed through apps.
After explosive growth in the gig economy, the government is set to introduce laws forcing minimum conditions for millions of workers employed through apps.
Climate Energy Finance director Tim Buckley says the political strength of the fossil fuel industry on both sides of politics is "out of control".
Climate Energy Finance director Tim Buckley says the political strength of the fossil fuel industry on both sides of politics is "out of control".
Climate Energy Finance director Tim Buckley says the political strength of the fossil fuel industry on both sides of politics is "out of control".
Australia's jobless rate ticked up to 3.5 per cent in August, as more people decided to look for work.
Australia's jobless rate ticked up to 3.5 per cent in August, as more people decided to look for work.
Australia's jobless rate ticked up to 3.5 per cent in August, as more people decided to look for work.
From cosmetics to vitamins, confectionary and cleaning products, more businesses are exporting halal-certified products to South-East Asia and the Middle East.
From cosmetics to vitamins, confectionary and cleaning products, more businesses are exporting halal-certified products to South-East Asia and the Middle East.
From cosmetics to vitamins, confectionary and cleaning products, more businesses are exporting halal-certified products to South-East Asia and the Middle East.
Munro Partner's Nick Griffin manages $1.4 billion, and says inflation is going to be a problem well into 2023, but there are several stocks which will outperform.
Munro Partner's Nick Griffin manages $1.4 billion, and says inflation is going to be a problem well into 2023, but there are several stocks which will outperform.
Munro Partner's Nick Griffin manages $1.4 billion, and says inflation is going to be a problem well into 2023, but there are several stocks which will outperform.
Skilled migrants who've experienced exploitation and harassment at work are urging the government to crackdown on rogue employers and provide visa certainty.
Skilled migrants who've experienced exploitation and harassment at work are urging the government to crackdown on rogue employers and provide visa certainty.
Skilled migrants who've experienced exploitation and harassment at work are urging the government to crackdown on rogue employers and provide visa certainty.
Steen Jakobsen, Chief Investment Officer of Saxo Bank, says central bankers can't control inflation with rate hikes alone.
Steen Jakobsen, Chief Investment Officer of Saxo Bank, says central bankers can't control inflation with rate hikes alone.
Steen Jakobsen, Chief Investment Officer of Saxo Bank, says central bankers can't control inflation with rate hikes alone.
Australia's biggest listed companies have seen total profits rise more than 50 per cent, however experts warn this financial year won't be quite as positive.
Australia's biggest listed companies have seen total profits rise more than 50 per cent, however experts warn this financial year won't be quite as positive.
Australia's biggest listed companies have seen total profits rise more than 50 per cent, however experts warn this financial year won't be quite as positive.
Consumer advocates are calling for urgent action to stop Australians losing billions of dollars a year to sophisticated scams.
Consumer advocates are calling for urgent action to stop Australians losing billions of dollars a year to sophisticated scams.
Consumer advocates are calling for urgent action to stop Australians losing billions of dollars a year to sophisticated scams.
Australia's economy grew 0.9 per cent in the June quarter and 3.6 per cent through the year, however GDP growth is expected to slow from here.
Australia's economy grew 0.9 per cent in the June quarter and 3.6 per cent through the year, however GDP growth is expected to slow from here.
Australia's economy grew 0.9 per cent in the June quarter and 3.6 per cent through the year, however GDP growth is expected to slow from here.
As banks impose tougher lending standards and interest rate hikes drive property prices down, more Australians are finding themselves in a mortgage trap, unable to refinance their home loans.
Australia's housing market decline has spread across the country with CoreLogic's home value index slumping 1.6 per cent in August, the biggest national monthly decline since 1983.
Australian Chamber of Commerce and Industry chief executive Andrew McKellar says the push to broaden collective bargaining and negotiate wages over whole sectors is a step backwards.
The Commonwealth Employment Service grew out of a realisation that unemployment had been a policy choice, but it fell out of government favour in the late 1980s and was privatised in 1998, leaving many former staff mourning what was once possible.
Woodside chief executive Meg O'Neill says the gas market was already tight before Russia's invasion of Ukraine.
Automation is usually associated with machines. But it's office jobs that are most under threat according to new research by an Australian teaching organisation.
While GPD is the traditional measure of economic success, the Treasurer Jim Chalmers is set to examine the impact of government decisions on the quality of life of Australians in his upcoming budget.
The Council of Small Business Organisations Australia and the ACTU have flagged the development of a simpler industrial relations system, including new options for flexibility in the workplace and multi-employer agreements.
Rising costs, inventory and interest rates don't bode well for retail stocks – but a couple look good to fund manager Tom Richardson.
Qantas boss Alan Joyce faces a growing number of calls to resign after the airline posted a third major loss from the pandemic.
ASX-listed company Ansell has been hit by a lawsuit in the US, alleging it knowingly used a sub-contractor in Malaysia who engaged in modern day slavery to make pharmaceutical grade gloves.
Major developers say more builders are tipped to collapse over the next 18 months, which could leave consumers in significant trouble.
Three years after it was formed, the Banking Code Compliance Committee enforcing breaches of the Banking Code of Practice has used its most serious sanction just twice. That power is writing the name of a bank on a report.
Rabobank Global Strategist Michael Every says the clock is ticking on China's miracle growth story. He says Beijing will develop their own sources of iron ore later this decade.
ASX CEO Helen Lofthouse says she shares frustrations around another delay to the Chess replacement system but the current one is working well.
Medibank CEO David Koczkar says, going forward they're doing everything they can to reduce pressure on premiums.
The jobless rate is now 3.4 per cent. There are now more job vacancies than workers to fill them and that's good news for the long-term unemployed.
Domain CEO Jason Pellegrino says the housing market is stabilising and returning to normal after record lows.
Australian workers suffer another large, real pay cut, as the latest data show wages growth fell further behind the cost of living in the year to June.
Nickel is a critical metal in batteries, and the world's miners are racing to keep up with the booming demand for electric vehicles and renewables.
Carsales.com CEO Cameron McIntyre says supply issues, among other things, are likely to keep prices of second hand vehicles high for a while longer.
Even energy-conscious consumers who have reduced their power usage are being slugged with higher bills thanks to rising fixed daily charges
Outgoing Telstra CEO Andy Penn says the company is in good shape as he prepares to hand over to successor Vicki Brady.
Governments are being urged to crack down on east coast gas producers to ensure supply and a fair price for manufacturers on the brink of collapse.
Commonwealth Bank chief Matt Comyn says he thinks the economy will contract this year, but will avoid a recession unlike the US, UK and Europe.
Commonwealth Bank customers are well placed to handle higher rates but Matt Comyn says the impact of interest rate rises will start to hurt households more by Christmas.
Owen Wilson, the CEO of REA Group, which owns realestate.com.au, says even with interest rates up and house prices down, there is still a "healthy demand" for property.
The latest consumer price index data shows the price of edible oils rose 14 per cent in the last year. That's the highest level of food inflation along with vegetables and fruit. It's impacting prices down the food chain, as well as cosmetics.
Economist Chris Richardson says Nancy Pelosi's visit to Taiwan represents an escalation in a tech war between the territory and China. The US House speaker met with the world's largest computer chip supplier while on her visit.
Soaring inflation is eroding what people can buy with their pay packets. The question for workers is: when will wages go up to meet it?
Australian Chamber of Commerce and Industry CEO Andrew McKellar says cross-party support for the government's climate target is in the national interest.
Australian Mercedes-Benz dealers are suing the car manufacturer for $650 million in a test case that will have legal ramifications for other franchise owners.
BHP Nickel West's Jessica Farrell says most people will be driving EVs within 15 years as the miner cashes in on the nickel boom for batteries.
Documents from inside the Australian Building and Construction Commission reveal staff were warned against directing supporters to help the Coalition's re-election effort.
Grattan Institute CEO Danielle Wood says working from home is here to stay as workers demand a hybrid home and office model of employment.
The Reserve Bank of Australia has increased interest rates for the fourth month in a row, raising its cash rate target by half a percentage point. The RBA has now lifted its benchmark interest rate by 1.75 percentage points since its first rate rise in May, with the cash rate target sitting at 1.85 per cent.
Australian Competition and Consumer Commission chair Gina Cass-Gottlieb says the forecast gas shortfall equates to 10 per cent of demand.
The housing market is turning as interest rate hikes spook buyers – and in bad news for those who don't own, those rate hikes are also pushing up rents.
Reporting season is approaching - and it's likely to be a difficult one, particularly for investors hoping for big dividends.
Judo Bank economic adivsor Warren Hogan says if the updated economic forecasts come to fruition, it will be a "remarkable result".
Inflation over the year to June hit 6.1 per cent, which is the highest level since the GST was introduced in 2000. The rise is slightly less than forecast, which could mean a smaller rate hike from the RBA next week.
IFM Chief Economist Alex Joiner says it's likely the Reserve Bank will push interest rates up by half a percentage point next week as it battles the highest inflation Australia has seen in the past two decades.
Payday lender Cigno is trying to take its fight to be exempt from credit laws to the High Court after years of legal battles with ASIC. The ABC can also reveal the regulator has launched a new investigation into Cigno.
HSBC Chief Economist Paul Bloxham says peaking global commodity prices may be a sign inflation could ease in the coming quarters.
Ai Group's Principal National Adviser Tennant Reed says business groups are pleasantly suprised so far with the new climate bill.
The National Farmers Federation Farming Systems Committee Chair Chris Groves says the border to Indonesia should stay open but travellers must all be screened for foot-and-mouth disease.
The Business can reveal the Coalition was warned a pre-election shake-up of the carbon market could kill investment to reduce pollution. The decision by then-energy minister Angus Taylor effectively ripped up carbon credit contracts, making it cheaper to pollute, but gifting a few private companies huge windfall profits.
Digital Finance Analytics' Martin North says up to 45 per cent of households could be facing mortage stress at the moment and the impact of interest rate rises are yet to truly hit bank accounts
Pollination senior adviser and former APRA member Geoff Summerhayes says the Reserve Bank and regulators should be forced to consider the cost of climate change.
Construction is Australia's most male-dominated sector, with reports of sexism rife, and only 1-in-50 working on the tools are women. Industry leaders say key to changing things will be fast-tracking women into training and apprenticeships.
The Reserve Bank of Australia is about to come under even more scrutiny, with the central bank set to be reviewed for the first time in decades. We also speak with Dr Isaac Gross, economics lecturer at Monash University, who says the review is neccessary.
Monash's Isaac Gross says the review into the Reserve Bank will help bring it more in line with other central banks around the world
BloombergNEF's Kobad Bhavnagri says the solution to Australia's energy crunch is ramping up spending on renewables.
Long covid cases are predicted to top 100,000 over the next three months, with fears many sufferers will be denied income protection insurance and workers compensation.
BIS Oxford Economics Sean Langcake says the European Central Bank will raise rates by 1.5 percentage points by the end of the year with the Eurozone only one shock away from recession.
ANZ hopes to add 1.2 million customers to its books by buying Suncorp's banking business. The deal still has to clear numerous regulatory hurdles and Jefferies bank analyst Brian Johnson says it's not a done deal.
Credit card fraud tops the list of personal cyber crime in Australia with 1.4 million people falling victim to fraudsters. There are calls to adopt tougher UK laws to protect consumers.
The June unemployment rate plunged below expectations of 3.8% to 3.5%, the lowest since 1974. Globally, central banks are hiking rates by as much as 100 basis to fight inflation with fears such a tight jobs market will force the Reserve Bank to follow suit.
The aggressive but uncoordinated action by central banks worries former IMF chief economist Maurice Obstfeld, who says there is a real risk they take rates too high while trying to fight inflation, sending the global economy into deep recession.
HSBC's Fred Neumann says strong labour markets and household savings will stave off recession for a while.
Afterpay's co-founders Anthony Eisen and Nick Molnar are the country's highest-paid executives, collecting a combined $264.2 million in the 2021 financial year - together they earned more than 2,800 times the full-time average wage.
Companies are finding it harder to attract investment as the cost of borrowing money gets more expensive, leading to thousands of jobs cuts across the global tech sector.
ACS Chief Executive Chris Vein says the tech sector is seeing huge growth and Australia needs to address its domestic pipelines of skills and talent to meet the demand.
ANZ NZ Chief Economist Sharon Zollner says not to underestimate the resolve of central banks to fight inflation as six months of rate hikes impact New Zealand's economy.
Internet services in regional and coastal areas are breaking down due to too much demand from locals and tourists. One town has a solution: It's building its own Wi-Fi network.
Forager's Steve Johnson says US second quarter earning reports will reflect strong demand and outlook guidance will hold the best information on the looming downturn.
Jeffries lead banking analyst Brian Johnson explains which banks he thinks are well fortressed against the coming recession and economic downturn.
A slump in the oil price is not going to lead to immediate relief in fuel prices and the temporary cut in the fuel excise ends in soon.
Small businesses are struggling with rising costs while trying to remain competitive, as consumer confidence falls in response to inflation and rising interest rates.
Barrenjoey's Glyn Lawcock says falling demand will crimp commodity prices for next few months but prices are still well above average
NSW Farmers Association President James Jackson says producers are being hit by a perfect storm as floods and interest rate hikes feed into costs for agribusiness.
The Reserve Bank has raised interest rates for the third month in a row, increasing the official cash rate by 50 basis points to 1.35 per cent in an effort to curb surging inflation.
Philanthropists and charities are pushing Australian's to be more consistent with donations, and reap financial and feel-good benefits.
Carsales chief executive Cameron McIntyre says a $1.2billion investment in US online marketplace Trader Interactive makes sense as chip shortages and manufacturing bottlenecks continue.
Farmers are set for another good season, but face soaring fuel and fertiliser costs because of the war in Ukraine.
IBISWorld expects the number of building companies to fall by 9 per cent next financial year, as the sector grapples with supply chain disruptions, rising material costs and worker shortages.
Fitch Ratings Jeremy Zook says forecast growth of 4.2% for Australia in 2022 could be affected by sinking commodity prices and slowing growth in China.
Tasmania has big plans to become a green battery for the mainland, but the project is set to cost billions and not everyone's convinced that the economics stack up.
AMP Capital Senior Economist Diana Mousina bets on a 50:50 risk of recession in Australia as she warns of trouble ahead.
People trying to push the envelope on work-related expenses, COVID-related expenses, rental deducations and failure to reveal or downplay cryptocurrency investments will be targeted by the tax man.
If more people default on their home loans, economists warn that could create financial system instability.
As the energy market returns to normal operation, EnergyAustralia boss Mark Collette says that further outages are possible.
SQM's founder Louis Christopher says house prices could fall even further in 2023 if interest rates continue to rise. He also says the availability in the rental market is the worst it has been since World War II.
Chinese investment in Australia has dropped to its lowest level in 15 years. Trade tensions, restrictions on money leaving China and tougher regulations on foreign investment have pushed investors to put their money elsewhere.
Buy now, pay later is a popular payment method, but the sector is facing a perfect storm of rising interest rates, bad debts, a crowded marketplace and looming regulation.
Betashares Chief Economist David Bassanese says that while a recession is possible if the worlds leading economy experiences a downturn, he thinks that this is unlikely given moderate wages growth and inflation in Australia.
National job vacancies have reached a record high with more than 420,000 positions posted across the country, as employers struggle to find workers beyond Australia's biggest cities.
Former Treasury Secretary Ken Henry says a windfall tax on gas exports is the best way to ensure reliable energy for the country.
OANDA's Jeffrey Halley says to expect more rate hikes ahead, and that it will be 'extremely challenging' to avoid a recession.
The chief of Australia's biggest superannuation fund, Mark Delaney is skeptical households can handle the interest rate hikes that the market is pricing in. He says investors and households need to prepare for tough times ahead.
The jobless rate remains steady at a 48-year low, with more than 60,000 jobs added to the economy in May. But some are questioning how long the good times can last with central banks hiking rates aggressively to control inflation.
The US Federal Reserve is tipped to increase rates by 0.75%, marking the largest hike in nearly 30 years. Rabobank global strategist Michael Every says the US has little choice as a recession 'seems to be unavoidable'.
Billionaire James Packer is set to walk away with a $3.36 billion payout, as the federal court approves Blackstone's takeover of the casino giant. It's sparked renewed calls for a national gaming regulator.
RMIT University's Dr Leonora Risse says that the Fair Work Commissions decision to raise the minimum wage is unsurprising given the current rate of inflation.
Calls are growing for the new government to boost protections for whistleblowers and drop criminal prosecutions against Richard Boyle, David McBride and Bernard Collaery.
Patties Foods' Paul Hitchock says manufacturers need competitive energy pricing to remain competitive in the market.
Banks have been quick to pass on rate rises to mortgage borrowers but slow to increase rates on savings accounts in an attempt to protect their profit margins.
The Australia Institute's Mark Ogge says foreign owned companies are sending big profits from high domestic gas prices offshore.
One in two LGBTQIA+ people say they have faced discrimination or exclusion when applying for insurance, according to a report commissioned by the industry.
Origin Energy's Frank Calabria says more coal outages mean energy prices will stay high for now.
Former government adviser Andrew Liveris says the time could be right for Australia to consider a national energy company.
The price of lithium is expected to almost halve in the next year, as more mines ramp up production across the world. The metal is the core component of EV batteries and experts say the price drop should mean cheaper electric cars.
Our mortgage repayments could be going up. It's all because the Reserve Bank lifted the official cash rate by 0.5% yesterday. Finance reporter Emily Stewart, aka "Sensible Emily" shares some simple ways to save money on your mortgage.
The Reserve Bank has increased the official cash rate by half a percentage point to 0.85 per cent, exceeding economist expectations.
Author and investor Michael O'Sullivan says the pandemic has accelerated the end of globalisation and the world will have to adapt to new ways.
Centre for Future Work's Alison Pennington says Australia's enterprise agreement system is no longer fit for contemporary workplaces.
An industrial relations fight is looming as employers protest proposed changes by Labor giving more employment security to casuals, contractors and those working in the gig economy.
Shell's Integrated Gas, Renewables and Energy Solutions Director Wael Sawan says a lot of the profits made from higher prices following the war in Ukraine are being reinvested into new infrastructure.
Manufacturers are warning businesses will close or pass on soaring energy costs to consumers if the government doesn't intervene and provide support.
House prices decline and some economists expect the Reserve Bank to raise rates to 0.75% next week after better than expected economic growth in the March quarter
JP Morgan Chief Economist Ben Jarman says that the March quarter GDP saw above trend growth and believes this will continue for the short term.
The cryptocurrency market has lost more than two trillion dollars since November. Scams are becoming increasingly common, but industry insiders warn too much regulation could stifle innovation.
Pacific National Chief Executive Paul Scurrah says that a tight labour market and cost pressures are impacting the industry's ability to operate normally.
The Aged Care sector's low pay stops men from doing the work. But experts say without them there won't be enough staff to take care of our ageing population.
Energy giant AGL has scrapped it's controversial plan to spin off it's coal-fired power stations from the rest of the company. Tech billionaire Mike Cannon-Brookes says that he believes in the opportunities of the company as a 'combined entity.'
Geoff Wilson from Wilson Asset Management says the failed AGL demerger plan wasted $160m of shareholder money.
Business reporter Emily Stewart shares her top tips for saving cash on your electricity bill, as the energy regulator hikes benchmark power prices.
Unemployment has been at a 48-year low in Australia, but wages still aren't keeping up with the cost of living. What has been described as a 'war for talent' has seen many companies offer perks and bonuses to attract and retain staff.
Greens leader Adam Bandt says they have a climate mandate and they will fight hard to stop any new oil and gas projects adding to emissions.
Benchmark power prices will rise by up to 18.3 per cent as the energy watchdog seeks to pass on soaring production costs to consumers.
Finance Minister Katy Gallagher says that the budget is under significant pressure and that the Labor government is dedicated to addressing these long-term economic challenges.
The ATO is set to resume its collection of $60 billion in debt following a freeze put in place during the pandemic. Thousands of companies are expected to fold, especially firms in the construction industry.
With the Greens set to hold more power in the Senate, big business will be pushed to act on climate change. Many companies say they are on track to reduce carbon emissions, while others are falling behind on 2030 targets.
UNSW Associate Professor Weihuan Zhou says the change in government has sparked a renewed willingness for China to 'engage in dialogue.'
Ai Group's Innex Willox and Alexi Boyd from the Council of Small Business outline the main issues business would like the incoming government to prioritise.
Labor faces calls from industry to address national economic challenges, including labour shortages and decarbonising the economy.
Woodside shareholders in a climate revolt as a $63 billion fossil fuel merger propels the energy giant to the top of the ASX board.
ACTU's Sally McManus says wage increases will allow consumers to increase their discretionary spending, helping to boost business in the long term.
The jobless rate has fallen to its lowest level in nearly 50 years, but with data weaker than forecast, many economists expect businesses to offer larger pay rises as they compete for staff.
Australian workers saw their wages rise 2.4 per cent over the past year, but high inflation meant they took a large real pay cut.
With ABS numbers indicating a 2.4 per cent rise in annual salaries, HSBC Senior Economist Paul Bloxham says the key to wage rises is reform measures to lift productivity.
Former Federal Treasury Advisor Warren Hogan argues a 5% lift to the minimum wage would be beneficial to the economy.
While house prices are expected to fall nationally as interest rates continue to rise, that won't necessarily improve the plight of first home buyers.
US economist Justin Wolfers says high inflation numbers in the US should have peaked and the economy can handle higher interest rates.
DigitalX's Lisa Wade says the collapse in stablecoin Luna highlights weakness in digital assets and was likely the work of an 'evil genius'.
With the cost of living surging and interest rates rising for the first time in more than a decade, a cap on mortgage repayments would come as welcome relief for millions of borrowers. But who would end up paying for it? We contacted the United Australia Party multiple times for comment and didn't get a response.
Graincorp CEO Robert Spurway says high demand for Australian wheat helped drive a five fold increase in interim profit.
Tasmania's economy is booming, but businesses are struggling to find workers. In the key marginal seats of Bass and Braddon, business groups are calling for more migration and training to address skills shortages.
Centennial Asset's Matthew Kidman says the recent stockmarket sell-off shouldn't panic investors.
Maria Trinci from KPMG says that the success of the big four banks over the past half-year can be attributed to continued credit growth, reasonable economic recovery and increased business lending.
Major parties are promising to build about 30,000 social homes, but the Australian Housing and Urban Research Institute says there is a shortfall of 433,000 properties across the country.
Politicians struggle with policies aimed at improving housing affordability because they fear that it could send house prices tumbling and hurt Australians with big mortgages.
Two years after the destruction of the Juukan Gorge sacred site, Rio Tinto boss Jakob Stausholm says the company is 'going beyond the legislation' in re-establishing trust with indigenous owners
Businesses fear they'll lose trade as customers cut spending because of rising interest rates. Meanwhile, only some savers will see their nest eggs rise.
Contrarian investor Marc Faber says central banks have waited too long to act. He believes a recession is inevitable and it will hurt ordinary people.
The Reserve Bank increased interest rates for the first time in more than 11 years, with a 25-basis-point hike to 0.35 per cent. The rate increase could see many homeowners cut back in spending as their repayments rise.
Atlassian co-CEO Mike Cannon-Brookes has acquired an 11% stake in AGL Energy, becoming its largest stakeholder. He says that the proposed demerger will result in a poor outcome for stakeholders, workers and the environment.
University of Sydney's Professor Jim Morley says that the RBA shadow board is still on the fence about whether the Reserve Bank will raise interest rates this far into an election campaign.
New homeowners who took out large and risky mortgages during the pandemic, could fall into severe financial hardship or even default when the Reserve Bank raises interest rates.
Grattan Institute Energy Director Tony Wood says Coalition accusations that Labor is peddling a carbon tax is wrong.
Finding affordable housing is becoming a crisis for many Australians, as rents hit at a seven-year high.
Inflation is on the march and rates are set to follow. Sue Lannin looks back at the long road to rising prices.
Consumer prices jump by the most since the GST was introduced, with the cost of living up 5.1 per cent over the past year, adding pressure on the RBA to hike rates next week.
EY Oceania Chief Executive Cherelle Murphy says surging inflation is not being matched by national pay rises, with predications that real wages will go backwards
In Melbourne's marginal seats businesses and workers are seeking policy action on big issues, everything from the cost of living to climate change to the post-pandemic recovery.
Forager Funds Management's Steve Johnson says that Elon Musk's commentary around the deal is as much about free speech as it is about convincing shareholders that they won't get a better offer.
Clothes that previously ended up in landfill are now being re-sold at lower prices for customers, while retailers cash in.
Leading economist Richard Denniss says politicians should be promising to raise taxes in order to better fund sectors like health and education, whilst also helping to tackle climate change.
Aware Super Chief Executive Deanne Stewart says volatility in the markets and rising inflation has crimped super balances. The industry fund is predicting returns in the low single figures for this financial year.
Analysts warn the US Federal Reserve could tip America into recession by raising interest rates too fast to control surging inflation. There are fears of the effects could be felt in Australia and across the globe.
Approximately $54 billion has been wiped from the value of Netflix as it experienced its first subscription loss in over a decade. A crackdown on subscription sharing will be at the helm of the streaming services response to bring in new members.
Businesses in the key marginal seat of Parramatta are pushing for a stronger immigration policy ahead of the election to fix labour shortages.
The majority of company directors support the establishment of a federal anti-corruption watchdog ahead of the upcoming election.
Two months after "return to work day" in CBDs across the country less than half of workers are back in the office. Many retailers dependent on foot traffic are struggling as others reinvent higher end retail spaces to attract cashed up clientele.
Australia's unemployment rate has fallen to its lowest level in almost 50 years, with employers 'desperate' for new workers.
COVID lockdowns in China may soon add to the supply disruptions from Russia's war in Ukraine, pushing central banks to raise rates faster at the risk of triggering recessions.
ABS data shows more houses than ever are being built, but labour shortages and rising costs have added to an already strained industry.
Master Builders Association's Denita Wawn says surging costs, supply delays and a shortage of workers show just how fragile the industry currently is.
Sydney Airport chief executive Geoff Culbert warns long delays at airports are likely to remain throughout the Easter break as the sector struggles to fill staff shortages.
International cruise ships will soon be allowed back to Australia but as the sector reopens, experts warn of challenges ahead.
A clean energy future is proving to be a hot topic this federal election, but where does this leave coal dependent communities within key marginal electorates of New South Wales?
SQM Research founder Louis Christopher says rental prices have increased 12-15% in many towns and cities in the past year.
Australia India Business Council's Sanushka Seomangal says the key to tapping into business opportunities in India is building relationships.
Nearly 1.5 million Australians are out of work or don't have the hours they need, despite the unemployment rate approaching its lowest level in half a century.
As young people pile into investing, they've been turning to social media for free tips and advice. A crackdown by ASIC means finfluencers will need to be licensed to provide financial advice or risk a $1 million fine and even jail time.
Credit Suisse's Jasmin Argyrou says the US economy can withstand a fast tightening of monetary policy and the Reserve Bank of Australia will be watching closely.
Both Labor and the Coalition committed to the OECD-G20 global tax plan that would force companies to pay a minimum rate of 15 per cent.
Empowered employees are resisting calls to return to the office. The revolution has allowed many Australians to continue working remotely and achieve a better work-life balance.
Australia's oil and gas infrastucture is being targeted by Russian hackers according to cyber security expert Rob Lee.
The housing boom in Sydney and Melbourne seems to be over, however prices in the smaller cities are still on the rise. REA Group economist Paul Ryan says a clear divergence between markets is emerging.
A Senate report says workers are being robbed of billions of dollars every year, as businesses race to the bottom to push down pay and increase profits. In response to this story, the University of Sydney says it's committed to ensuring staff receive their full entitlements, while Subway has not responded.
Keeping up with your mortgage repayments might soon get harder when the Reserve Bank raises interest rates.
Plenti Chief Executive Daniel Foggo says the budget should have accelerated electric vehicle uptake rather than subsidise the use of combustion engines.
The jobless rate fell to 4 per cent in February and hours worked recovered from January's COVID-19 Omicron variant outbreak.
Quadratic Capital Management founder Nancy Davis says money markets have priced in US Federal Reserve interest rate rises but the elephant in the room for policy makers is a $US9-trillion balance sheet.
Interest rates are rising overseas and Australia is almost certain to follow. But are borrowers prepared for higher repayments as record low mortgage rates disappear?
Rabobank's Michael Every says inflation is here to stay and global markets will feel further pain as the ructions from Russian sanctions continue to bite
The Reserve Bank faces tough decisions on when and how much to hike rates. Leading economists are warning against raising rates too quickly just as consumers face steep rises in petrol and food prices
ANZ Greater China Chief Economist Raymond Yeung says Beijing's lockdown of major cities will slow Chinese growth targets. This could prompt a catch-up in infrastructure stimulus raising demand for Australian iron ore.
The London Metal Exchange was forced to suspend the trading of nickel after prices for the metal spiked more than 250%. Chinese nickel giant Tsingshan Holding Group faces billions in trading losses.
SPC boss Robert Giles says surging fuel costs and rising packaging and producer prices are costing the food processor more than $30,000 a month and it has no choice but to pass the price hikes on.
Ray White Chief Economist Nerida Conisbee explains why prices in towns hit by catastrophic events keep bouncing back.
Yale Professor Jeffrey Sonnenfeld explains why he started publishing a list of the multinationals exiting Russia, and what businesses can expect if they continue to stay.
The cost of anxiety in the work place runs into the tens of billions of dollars, but how are businesses managing this impact on their bottom line?
Petrol prices are hitting record levels across Australia, but the impact goes well beyond the bowser. Goods and services like fresh food and airfares will soon be affected as the impact of surging fuel prices flows down the line.
Energy strategist Dr Sara Vakhshouri explains how the US ban on Russian oil imports won't put too much of a strain on the Russian economy, but that co-ordinated Western bans on Russian oil could see crude spike to 300 US dollars per barrel.
Evan Lucas from InvestSMART explains how Russia's war with Ukraine is continuing to fuel inflationary pressures but that increased food and fuel prices may act as a proxy interest rate rise to slow the economy.
Census data has shown that more than half of working men do none or less than five hours per week of unpaid domestic work. More employers are introducing policies like paid parental leave and flexible work arrangements, but it still remains a cultural challenge.
Energy giant AGL has rejected a second offer worth around $9 billion from Mike Cannon-Brookes and Canadian investment firm Brookfield. AGL has told the market that the offer was "still well below the fair value of the company".
Pay transparency advocates want to end secrecy around salaries that stops you telling your co-workers what you earn because they say it prevents wages growth.
Census data found that more than half of employed men did nil or less than five hours per week of unpaid domestic work compared to about one third of employed women. If the load of unpaid care was shared more equally, more women could return to work.
Russia experienced immediate financial impacts following Western sanctions. The rouble crashed, the stock market tanked, and the interest rate was hiked to 20%, but will the sting of these sanctions be felt long-term?
Insurance premiums are set to rise, as the industry calls for federal and state governments to spend $2 billion on mitigating the risks of extreme weather events.
Cryptocurrencies are being used for military support and humanitarian relief in Ukraine.
Australia's economy has recorded its equal-best quarter of economic growth in nearly 46 years as it bounced back from the east-coast Delta lockdowns.
EY's Net Zero Centre Leader Blair Comley explains how ESG issues have taken centre stage among an expanding number of CEO's and how timely action is needed.
Russian banks banned from SWIFT could use cryptocurrencies or turn to China's Cross-Border Interbank Payment System to facilitate payments after sanctions caused the rouble to plunge by 30%.
Qantas expects domestic flights to return to pre-pandemic levels by the middle of this year but concedes international travel will take a lot longer to recover and if oil prices are more than $US100 a barrel past June, ticket prices will need to rise.
Qantas boss Alan Joyce says the airline is trying to keep ticket prices low for now, but if oil prices are more than $US100 a barrel past June, ticket prices will need to rise. The airline declared its fourth consecutive half yearly loss of the pandemic of $456 million. It expects domestic flights to return to pre-pandemic levels by the middle of this year but concedes international travel will take a lot longer to recover
A total of 18 businesses in the WBHO Australia Group, including construction giant Probuild, Monaco Hickey, WBHO Infrastructure have been placed into administration. The collapse leaves 18 projects, 750 staff and thousands of contractors in limbo.
BetaShares Chief Economist David Bassanese explains the macro and micro implications of Australia's sanctions on Russia.
Wages record their fastest annual growth in two-and-a-half years as retail and hospitality record the strongest pay growth, but it is still trailing well behind inflation.
Rabobank global strategist Michael Every takes a look at the effect sanctions against Russia will likely have on the global economy and financial markets.
Tech stocks hit record highs during the COVID pandemic, but have fallen sharply in 2022 as central banks prepare to raise rates. Tech companies which don't make a profit or pay dividends have been hit especially hard.
Australia's largest market, China, has a zero policy on COVID-19, New Zealanders still can't travel here and the US has slapped a travel warning on Australia. How long will it take for the travel and tourism industry to bounce back from the virus?
NAB chief executive Ross McEwan expects the housing market to rise by 5% or 6% in 2022. He says the bank's customers will be able to afford rises in the cash rate, which he expects to hit 0.6 % by the end of the year.
Origin Energy plans to shut Australia's largest coal-fired power plant seven years early, in 2025, with plans to replace it with a big battery on the same site.
The Omicron outbreak saw hours worked plunge nearly 9 per cent in January, even as unemployment remained steady at 4.2 per cent. 13,000 jobs were added in the month, and in a very tight labour market, finding new workers is proving difficult for employers.
One of the world's most famous fund managers says Wall Street is a 'super bubble' waiting to burst and a 'terrible lust' for profits will bring investors undone. Jeremy Grantham is the co-founder of GMO, which claims to have predicted the Japanese crash of 1989, the Dotcom bust of 2000 and the global financial crisis of 2008. He's now warning of another similar crash in asset prices, with speculative tech stocks first in the firing line
Australia's first national recycling scheme for household batteries launches today. It could create a major new industry — if the economics fall into place.
Oil analyst and head of research for Tribeca Investment, Todd Warren expects oil prices to surge above $US100 a barrel if Russia invades Ukraine. He says Australians won't be able to avoid hip pocket pain at the petrol pumps.
Western Australia's iron ore miners step up measures to prevent COVID-19 infiltrating their workforces.
The Omicron COVID wave is hitting some Australian business owners, who were hoping for a fresh start in 2022. But many are beating the pandemic odds, and thriving, while others are still struggling.
Commonwealth Bank boss Matt Comyn says house prices will soften next year as interest rates rise. Mr Comyn say the worst of the pandemic is behind us and the outlook for the economy is positive.
Ahead of the federal election, there are calls for the government to fund 26 weeks paid parental leave so that more fathers share the role of primary carer during their child's life.
Experts warn people in poorer postcodes will get less access to credit as artificial intelligence makes more decisions in the field of finance.
Credit Suisse Energy Analyst Saul Kavonic unpacks how different scenarios of the Russia Ukraine conflict could affect fuel and LNG prices in Europe and Australia.
It's that time of the year again when investors get flooded with updates from corporate Australia about how much money it's making. Over the next few weeks, Australia's biggest companies will reveal the problems they're facing, including staff shortages, supply problems, and higher costs following Delta and Omicron outbreaks.
Australians have nervously watched their super balances plummet in recent weeks. But there are steps people can take to protect their retirement nest egg.
Should Australian first home buyers be allowed to access their retirement savings to fund their first mortgage? USYD's Cameron Murray and Ray White Chief Economist Nerida Conisbee examine if the Singaporean model could work in Australia.
An average mortgage might go up $1000 a month in a few years, warn economists, even as the RBA promises patience on interest rates. The Reserve Bank will end its $350 billion bond-buying program on February 10 following much better-than-expected economic data and rising inflation.
Leading economist Stephen Koukoulas shares his thoughts on what lies ahead for Australian interest rates, house prices, wages, savings and the case for budget repair in 2022