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The budget bottom line is set to benefit from billions of dollars in extra tax collections due to iron ore prices, economist predict, which will likely deliver a second surplus for the Albanese government.
Breaking News
Big shock about first home buyers
Despite the surging cost of purchasing a new home and the rise in borrowing costs, the number of first home buyers taking out loans has rocketed higher in the last 12 months.
ASX edges lower despite oil surge
An acceleration of inflation in the United States and an escalation of tensions in the Red Sea pushed the benchmark lower on Friday.
Rates warning over stage-three tax cuts
The tax cuts, which are set to come into effect from July 1, could have major implications for the timing of rate cuts, economists have warned.
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ASX flat as Afterpay hits record
The ASX finished flat after two straight days of gains as shares in buy now pay later market darling Afterpay climbed to a fresh record.
Loans bog down Grocon collapse probe
The estimated debt owed by collapsed construction group Grocon has been slashed as administrators pick through complex loan arrangements.
Investors back gold mining mega-merger
The merger of two major Australian gold miners to create a $16bn global top-10 producer has been overwhelmingly backed by shareholders.
China snub: Aussie coal has last laugh
China has looked to other countries for coal as it continues to snub Australian imports, but it is still indirectly buying it, a producer revealed.
Healthcare stocks among ASX winners
Tech and healthcare stocks bounced back impressively after being the worst performers this week, while banks also helped drive the ASX higher.
Cherry growers reject China’s whinge
Cherry growers have hit back at Chinese media after it cast shade on the beloved Aussie product. The industry says customers can’t get enough.
ASX rebounds from midday fall
The Australian share market has finished the day slightly up after a shaky trading day which was fuelled by stimulus prospects in the US.
Staggering change in job vacancies
New figures from the Australian Bureau of Statistics reveal a staggering change in the number of jobs available across the Australian economy.
Just Jeans owner revises earnings outlook
The owner of Just Jeans, Jay Jays and Peter Alexander has updated its earnings outlook for the first half of the financial year.
Tech, miners, healthcare weigh on ASX
Tech, mining and healthcare stocks dragged the Australian sharemarket lower but it would have been worse without gains by the big banks.
Original URL: https://www.themercury.com.au/business/breaking-news/page/195