A spike in gas prices, liquid fuels and electricity have created a perfect storm within Australia’s energy market. Treasurer Jim Chalmers says the failure of the Liberal government to land an energy policy and put in place infrastructure for renewables has made the domestic market less...
House prices nationally recorded their first decline since September 2020 in May, led by monthly losses in Sydney and Melbourne, the country’s two largest real estate markets. The CoreLogic home value index declined 0.1 per cent in May with Sydney dropping 1.0 per cent and Melbourne...
Growth in Australia’s manufacturing sector in the early months of 2022 came to an abrupt halt in May, due to supply constraints, labour shortages, rising prices and wage growth. The Australian Industry Group performance of manufacturing index fell by 6.1 points to 52.4 points, just above...
Australians are being urged to roll up their sleeves and donate blood as a burgeoning flu season causes supplies to plummet. Some 17,500 people are urgently needed to donate blood within the next week or stocks could fall to just two days worth by midweek, according...
Australia is in for a period of banking sector turbulence as households deal with rising inflation and mortgage payments, the industry regulator says. “The next few years will be far from plain sailing,” Australian Prudential Regulation Authority chair Wayne Byres told a conference on Tuesday. APRA has...
Consumer advocates are urging the incoming Labor government to rein in the unregulated cryptocurrency industry as a reform priority. “Choice is hearing from many Australians about financial loss and other harm caused by purchasing crypto assets that were not what they appeared to be,” the consumer...
Australia’s consumer watchdog is suing Mastercard over alleged anti-competitive conduct in deals with large retailers. The ACCC has instituted Federal Court proceedings, accusing Mastercard of substantially lessening competition in debit card acceptance services. The alleged anti-competitive conduct began in late 2017 in the context of the Reserve...
A change of government has had little impact on confidence, with the mood of consumers remaining down in the dumps in an environment of rising interest rates, ballooning inflation and a steady climb in petrol prices. However, a swag of new figures suggest Wednesday’s national accounts...
Australia looks to be headed for another bumper winter crop planting, with lifts in wheat and canola. Rabobank’s winter crop outlook for 2022/23 is forecasting a record 23.83 million hectares of crop will be planted this year, up one per cent on the previous 12 months...
Tom Cruise won’t be flying but Australia’s best airforce pilots are set to soar in the skies above the Northern Territory for a local version of Top Gun. The Royal Australian Air Force’s Exercise Diamond Storm 22 to train the best of the best in air...