Chalmers skirts key budget deficit question
Jim Chalmers declined to directly answer whether a total of forecasted $122.1bn in deficits will increase in the mid-year budget update set to be released on Wednesday.
Australian Economy
Dutton comeback a shock blow for Albo
Peter Dutton seems to be making an unexpected comeback – and it’s bad news for Prime Minister Anthony Albanese, whose days could be numbered.
$1.8 billion budget blow tipped
Australian treasurer Jim Chalmers says the budget will likely be blown out by billions in part due to funding this project.
City worth of migrants arrives in Australia
Australia’s annual migration figures have been released, and it looks like dire news for Anthony Albanese.
ASX slumps to worst week in four months
A sharp sell-off in materials and utilities dragged the Aussie sharemarket into the red – marking its worst week in four months.
RBA’s excuse for rate forecast fails
The RBA has defended the economic forecasting it does to help the board when it considers changes to the cash rate, admitting the predictions are likely wrong.
Big bank’s surprise call on cost of living
Westpac says the peak of the cost of living crisis could be behind us with the number of Aussies needing the bank’s help to pay their loans falling.
Biggest sign yet of turning point in economy
The men who hold the purse strings at Australia’s biggest businesses say the economy is improving and are the most optimistic about the future since Covid.
Surprising Aussie fashion trend revealed
Buy-now pay-later giant Afterpay has revealed some surprising Aussie fashion trends in its latest Afterpaid report, with one colour dominating 2024.
Perfect storm punishes Aussie dollar
The Aussie dollar traded at a 13-month low on Thursday morning as investors are cautious about Australia’s economic future.
‘Impossible’: Why Australian dream is dead
A viral video explaining “why life in Australia has become impossible” has left many viewers asking the same question.
Group running out of cash every month
Some people from one cohort are reporting having to steal essential items more frequently to survive the cost-of-living crunch.
RBA’s major Trump call after tariff spree
The Reserve Bank has made a major call on the potential impact of Donald Trump’s second presidency on the Australian economy.
ASX falls to three week low
A sharp sell-off in information technology and energy stocks dragged the Australian markets down during Wednesday’s trading.
Aussie climate goals ‘within reach’
The state and territory emission reduction targets in place can give Australia a “springboard” to stronger climate goals, new research finds.
Wild corruption claim hits Rex Airlines
Australia’s corporate watchdog has announced stunning allegations of corruption against the directors of embattled airline company Rex.
Aussie shares slump on bank, tech rout
A sharp sell-off in banking and tech stocks pushed the Australian sharemarket into the red on Tuesday, even as the heavyweight mining sector soared.
Fresh blow to Aussie mortgages
Homeowners desperate for some rate relief will need to wait until 2025, as the Reserve Bank of Australia held official interest rates for the ninth time in a row.
‘Not immune’: Retail giant battles in cost crisis
One of Australia’s iconic retailers is forging on with a huge business deal in the face of tough conditions for retailers.
Huge change in Aussie workplaces revealed
The Workplace Gender Equality Agency says there has been some ‘positive progress’ in gender equality, even as major businesses are rocked with harassment scandals.
‘Weak’: Business confidence falls sharply
The cost of doing business in Australia is too high to handle for many organisations, the latest business confidence survey has found.
‘All wrong’: $38m advisory body slammed
How do you solve the most challenging public policy issue of our time? Don’t ask the Productivity Commission.
Retail gives ASX a bump up
The gift-giving season has shunted the ASX to a marginal gain on Monday as oil uncertainty buried many of the big players.
Cash boost for Aussies from January 1
New Year’s Day is set to bring a suite of changes – including a cash boost for some Australians.
91 per cent chance of this interest rate call
Mortgage holders and business owners should not hold their breath for any interest rate relief on Tuesday.
‘Extensive experience’: ANZ picks new boss
One of Australia’s largest companies has found its new chief executive, an international banker of “calibre and extensive experience”.
Huge update in Woolies strike drama
Supermarket giant Woolworths has delivered a huge update in the ongoing strike drama that left customers facing empty shelves.
Chart reveals why Australia is screwed
Australians are getting poorer and a leading economist has produced a simple chart that shows why.
Why Australia is in debt to Hugh and Ryan
It’s been a wild 2024 at the Aussie box office, but cinema operators say a new dawn is rising for the beleaguered movie business.
Tears as fraudsters lashed for $10m scam
There were gasps and tears as a disgraced construction boss and his co-conspirators were jailed over a “crude” $10m tax fraud scheme.
Surprise reason for Aussie spending jump
A surprise jump in spending in major two areas has given early indications Aussies are starting to spend again, in spite of a high cost of living.
Outgoing senator’s new job revealed
A long-serving outgoing Coalition senator’s new role once he steps out of parliament has been revealed.
Shrinkflation hits festive treats
At least five different products from Woolworths, Aldi and Lindt have become the latest casualties in the ‘shrinkflation epidemic’ plaguing Aussie shoppers.
Big miner issues blunt warning to Aussies
A leading mining figure has delivered a dark speech warning that Australians will need to “do more, move faster and work harder” to maintain prosperity.
Treasurer’s bombshell election claim
The Federal Treasurer has conceded there is a “possibility” Labor will be booted at the next election while tempering expectations of “big spending” in the mid-year budget update.
Aus mining giant makes major iron ore call
One of the world’s biggest mining companies has shifted their focus away from iron ore, towards the mineral it believes will drive the global energy transition.
Huge warning over dodgy GST refunds
The Australian Taxation Office has issued a major warning amid their crackdown of business owners trying to cheat the GST system, following a huge spike in fraudulent claims.
‘Insulting’: Albo spends $18k on flowers
The Prime Minister treated world leaders to a $40,000 performance at dinner adorned with $18,000 worth of flowers, new documents reveal.
ASX snaps three day winning streak
The Australian sharemarket has fallen just days after cracking a record high 8500 points in a broad market sell-off on Wednesday.
Rate warning after weak growth figures
As higher for longer interest rates and inflation continue to bite, Aussies have been hit with more bad news on the economic front.
Most trusted Aussie brands revealed
Despite using privacy-invading facial recognition cameras, a major retailer has held its spot as the No.1 most trusted Australian brand.
‘Not fair’: Gov wants to end $3 bank fee
The Albanese government has slammed a bank’s decision to charge customers a fee to withdraw money from their own accounts, claiming it “doesn’t seem fair”.
ASX continues record high run
Australia’s sharemarket cracked a fresh record high on Tuesday, on the back of renewed economic confidence.
Government spending surges to $195bn
Strong public spending is offsetting an overall weak economy, new figures from the ABS reveal, ahead of the release of the latest growth figures on Wednesday.
‘97 times’: Albo’s reminder of broken promise
As the federal election looms, Peter Dutton has used a three-year anniversary to attack Anthony Albanese over a broken promise.
Surprising state tops list for business
Australia’s leading business body has just ranked the best and worst states and territories for commerce and a surprising state has come out on top.
ASX sets new record high
Australia’s sharemarket has started the last month of the year with a strong day of trading, as new retail data was surprisingly good.
Proof Aussies have thrown off shackles
The doom and gloom for Aussie retailers seems to have subsided – and that was even before an expected bumper Black Friday sales.
‘Knock it on the head’: Major tech crackdown
The tech giants that dominate our app use could face large new fines and bans on anti-competitive dominance.
Albanese explains why Aussies are poorer
The Prime Minister has explained why Australians are struggling so much in 2024, confirming a troubling statistic during a recent interview.
Christmas tradition Aussies are ditching
Aussies looking to cut back this Christmas are walking away from this holiday tradition, but it might not be saving them as much as they think.
Albo’s investment property blow
The Prime Minister has made a tough call on one of his investment properties.
Wild reason your home loan could be declined
Despite taking all the right steps, banks can still decline your home loan for a surprising reason, as one young Aussie learned the hard way.
‘Worse without:’ Bullock’s bold jobs call
The RBA governor surprisingly came out in support of Australia’s big spending budget saying the economy “would be worse without it”.
‘Utter audacity’: TV host tears into minister
Energy Minister Chris Bowen has been slammed for claiming coal-fired power stations are “the biggest threat to reliability” after NSW faced blackout warnings.
Aussie shares hit fresh record high
The Australian sharemarket cracked a fresh record high on Thursday on the back of a surge in the big banks and healthcare stocks.
Aus billionaire shares dire economic forecast
An Aussie business billionaire has warned the country is heading into a “great big black hole” of debt.
Push to change rules for first homebuyers
Restrictive rules which prevent nearly two in five first home buyers from securing financing should be eased, a major report is expected to say.
Push to change rules for first homebuyers
Restrictive rules which prevent nearly two in five first home buyers from securing financing should be eased, a major report is expected to say.
Inflation update grim news for rate cut
Inflation figures have continued their trend down, but not in a way that will help mortgage holders any time soon.
‘Sold out’: Greens lashed on housing
The Greens have been accused of selling out in agreeing to back Labor’s Help To Buy bill, with the Liberal Party vowing to repeal the law if they win the election.
Why MP can’t afford a home on $220k salary
Greens housing spokesman Max Chandler-Mather has given an “honest” answer when asked why he does not own a home, despite his eye-watering salary.
Pleas to RBA to ignore Black Friday boom
Black Friday is tipped to be one of the best sales events on record, but a leading economist warns it is not a sign that household pressures are easing.
‘Right thing’: Fury over super tax
A fresh fight is looming between Labor and the Greens, this time over changes to tax on massive super balances.
Fake students openly admit rorting Australia
Indian students have brazenly admitted rorting Australia’s visa system through dodgy “ghost colleges” that leave them “free to work until they get residency”.
Disturbing stat about Aussie workers
Australian workers are falling for bogus phishing attacks at almost twice the global rate, concerning research shows.
Australia’s grim economic outlook revealed
Australia’s grim economic outlook has been revealed, with the federal budget tipped to have its sharpest retraction since covid.
Warning Australia could be loser under Trump
Australia could be on the verge of becoming a “loser” if a trade war was to break out between America and China following the election of Donald Trump.
Aus clothing empire collapses owing $250m
A huge Australian clothing conglomerate is in voluntary administration, owing nearly $250m.
Scam warning ahead of Black Friday sales
Australia Post says consumers need to be on guard for scams as Black Friday sales ramp up and criminals target unsuspecting victims.
Supermarket giant grilled on vacant land
One of Australia’s two supermarket giants has denied it is sitting on unused land in one capital city to stop any competitors opening up.
Real impact of Trump on Aussie economy
US President-elect Donald Trump has proposed to introduce hefty tariffs when he enters office – and experts have weighed in on what it could mean for Australia.
‘Worried’: Biggest threat to Coles, Woolies
The chief executive of a supermarket giant has admitted she is “worried” about a US company as more and more Aussies hunt for better prices.
Huge change to Aussie nest egg fund slammed
Jim Chalmers has defended the sweeping changes to help “modernise” Australia’s $230bn sovereign wealth fund to prioritise issues like housing and renewable energy.
Remote workers ‘less likely’ to be hired
As a generational divide over working from home continues, a major survey has revealed what businesses really think about workers who don’t want to work from the office.
Warning on Aus economy amid China crash
Treasurer Jim Chalmers has warned forecasted revenue “will be much smaller” due to China’s crashing property sector and its impact on iron ore prices.
Grim reality for Aussie businesses
Aussie businesses have been hit with a grim forecast for the year unless consumers change their spending habits.
Massive Gen Z, Boomer divide exposed
The cost of living crisis remains front of mind for young Aussies, while boomers are splashing their cash on travel and shopping.
Major twist after lake rename sparks anger
A controversial decision by the Victorian government to rename a lake after an Indian religious figure has sparked a war of words.
RBA makes call on mortgage stress
Aussie mortgage holders are in theory the most exposed to interest rates rises in the world, yet there is little evidence of a mortgage cliff, the RBA said.
Original URL: https://www.news.com.au/finance/economy/australian-economy/page/3