economy
Pandemic cash splash let inflation genie out of bottle
31 October
Unnecessary COVID-19 spending and Reserve Bank delay in lifting interest rates significantly worsened inflation, a review of Australia’s pandemic response finds. While supports like JobKeeper and HomeBuilder were desperately needed and an...[Read More]
Australian investment eyed for Peruvian mining pipeline
30 October
Peru is looking to Australian companies for hundreds of millions of dollars for critical mineral investment with 51 projects having a combined $US55 billion revenue potential in the pipeline to 2035. Peru’s Energy Minister Romulo Mucho says China...[Read More]
Cost of living woes trump worker satisfaction
24 October
Four in five working Australians are more concerned about living costs than job satisfaction. Research by tech company SafetyCulture details challenges facing frontline industries amid several years of inflation. It found women workers to be more...[Read More]
Australia facing further economic troubles
24 October
Labor has defended its economic track record as sluggish growth is expected for the Australian economy, while unemployment is likely to climb. Treasurer Jim Chalmers will meet with world counterparts in Washington as the International Monetary Fund...[Read More]
Stage three tax cut spending spree yet to surface
17 October
Tax cuts don’t appear to be fuelling shopping sprees, with transaction data suggesting extra take-home pay is going towards staples and paying down debt. Footy finals were the only bright spot in an otherwise glum September for spending, with...[Read More]
Melbourne, SE Qld lead way for new jobs figures
17 October
Parts of Victoria and Queensland are leading the charge for new jobs being created, figures show. Analysis of Australian Bureau of Statistics labour data show Melbourne and southeast Queensland had the greatest increase in employment in the year to...[Read More]
Outstanding invoices go unpaid as businesses squeezed
17 October
More businesses are struggling to pay outstanding invoices to suppliers though the proportion falling behind is still below pre-pandemic levels. Wednesday’s risk update from CreditorWatch suggests lacklustre consumer spending and elevated costs of...[Read More]
Debit card surcharges could be scrapped in crackdown
17 October
Surcharges for payments made by debit card could soon be dumped, but business groups have warned there might be unintended consequences for consumers. The federal government said it was prepared to ban debit payment surcharges by 2026, pending a...[Read More]
Spring brings brighter outlook as rate hike fears fade
10 October
Consumers can see light at the end of the tunnel as fears of further interest rate hikes fade. As signs of improving consumer and business confidence emerged, minutes from the Reserve Bank of Australia’s last meeting confirmed the case to lift...[Read More]
Prosperity and climate action can go hand-in-hand
10 October
Protecting nature and combating climate change need not come at the expense of Australia’s prosperity, a global summit has been told. Climate change, energy, environment and water department secretary David Fredericks says his department is...[Read More]
Generation dread: Aussies unprepared for money shocks
3 October
Less than a quarter of Australians are satisfied with their financial position, with younger generations increasingly relying on grandparents for support. Research conducted by investment group MLC found 70 per cent of people said financial...[Read More]
Retail sales to show economy continues to sputter along
3 October
Retail sales figures should show the Australian economy continues to “muddle along” without setting off too many alarm bells about an imminent recession or inflation kicking off again. Economists expect the Australian Bureau of Statistics on...[Read More]
Power subsidies and cheaper petrol drive down inflation
26 September
A drop in inflation has been welcomed as a small respite for struggling shoppers but households are being warned prices are set to bounce around and not come down in a straight line. Inflation cooled to 2.7 per cent in the 12 months to August, down...[Read More]
Slight reprieve as inflation cools to 2.7 per cent
26 September
Australians have been gifted a slight reprieve, with inflation moderating to 2.7 per cent as price pressures hurt shoppers at the checkout. The drop in the inflation figure spanning the 12 months to August was spurred by a decrease in transport...[Read More]
Business leaders eye economic light at end of tunnel
19 September
Australian business leaders are broadly optimistic about the state of the economy and more than half plan to hire and bolster workforces. Nearly nine in 10 Australian chief executive officers surveyed were confident about the economy despite a...[Read More]