economy
Better times ahead for economy, despite global woes
3 July
Australia’s economy is tipped to strengthen over the next few years despite the uncertain global backdrop, but may stagnate without serious tax reforms. While Australia’s economic growth hit speed bumps early in of 2025 from Cyclone Alfred,...[Read More]
Higher wages and bills among changes to take effect
3 July
TOP CHANGES COMING INTO EFFECT ON OR AFTER JULY 1: PAYMENTS AND SUPER * About three million workers on the minimum and award wages will receive a 3.5 per cent pay rise following a decision by the Fair Work Commission * The superannuation guarantee...[Read More]
Retail sales rebound as interest rate call looms
3 July
Retail sales rebounded as cooler temperatures sent Australian consumers flocking back to the shops in search of winter apparel. Household spending has been subdued to start the year but retail turnover rose 0.2 per cent in May, the Australian Bureau...[Read More]
Pay penalties to be saved as workers score wage win
3 July
Workers on the minimum wage will get more money in a matter of days, as the employment minister pledges to enshrine workplace conditions. From the start of the financial year on Tuesday, workers on the minimum wage will get a 3.5 per cent pay lift,...[Read More]
Super funds spared billions after US axes ‘revenge tax’
3 July
Australian superannuation funds are breathing a sigh of relief after the US dropped a so-called “revenge tax” on foreign investors. The super industry had been ringing alarm bells over section 899 of President Donald Trump’s proposed “big...[Read More]
A group of wealthy people ready to buy TikTok: Trump
2 July
US President Donald Trump has said in an interview that he has found a buyer for TikTok, a group of “very wealthy people” who he will reveal in about two weeks. Trump made the remarks in an interview on Fox News Channel’s Sunday Morning...[Read More]
Surprise data shows inflation falling to four-year low
26 June
Inflation has fallen to a seven-month low, bolstering hopes of an imminent cut to interest rates. Data from the Australian Bureau of Statistics on Wednesday showed headline inflation fell from 2.4 per cent to 2.1 per cent in May. The monthly figures...[Read More]
Shop-around advice as cheapest supermarket revealed
26 June
Visiting more than one supermarket has proven to be the smartest approach for shoppers, as data shows prices for everyday essentials continue to vary widely. Data from consumer advocacy group Choice found that, even without specials, prices differed...[Read More]
Servos urged not to price gouge after oil price hike
25 June
Service station owners have been put on notice not to take advantage of customers due to volatile fuel prices caused by conflict in the Middle East. Treasurer Jim Chalmers has written to the Australian Competition and Consumer Commission calling for...[Read More]
Australia slides down economic competitiveness rankings
19 June
Poor productivity and economic growth are dulling Australia’s competitive edge and sending it sliding down an international economic leaderboard. Australia fell five spots to 18th place in the latest World Competitiveness Yearbook report, released...[Read More]
Global doom and gloom sinks Aussie economic optimism
19 June
Tariffs and global conflict have knocked Australians’ optimism in the economy and trust in the US to 20-year lows, a long-running poll by an independent think tank shows. Since it began in 2005, the Lowy Institute Poll of Australians’ attitudes...[Read More]
Businesses and consumers caught between opposing forces
12 June
Will a second rate cut be enough to settle the nerves of businesses and consumers spooked by global trade uncertainty? Donald Trump’s tariffs have weighed on sentiment in recent months, stifling an expected economic recovery in 2025. Household...[Read More]
‘Not unreasonable’: PM hopeful on summit compromise
11 June
The prime minister is confident unions and business groups will find common ground in dealing with flagging rates of productivity. Anthony Albanese announced a productivity roundtable would be held in Canberra in August to find ways on lifting...[Read More]
Unions hail pay boost for millions of low-paid workers
5 June
Nearly three million low-paid workers will take home an extra $32 a week in pay after the industrial umpire decided to make up for falling real wages and living standards in recent years. The Fair Work Commission delivered a 3.5 per cent increase...[Read More]
Insurance cost warning after disasters hit bottom line
4 June
The economic impacts of natural disasters will extend beyond the federal budget, environmental groups warn as households are told to brace for higher insurance premiums. Treasury figures show a loss of $2.2 billion from economic activity following...[Read More]