Australia’s housing affordability will worsen over the rest of this year as interest rates rise, despite falling property prices and increasing household incomes, Moody’s Investors Service warns. In a new report, the global credit rating agency says house prices are unlikely to fall enough to offset...
Australia’s heavy industries have joined forces to devise a $100 billion plan to go green amid global pressure to respond more rapidly to climate change. An 88 per cent cut to carbon emissions is possible across refineries, pipelines and steelworks from the Pilbara and Kwinana in...
The Australian share market has been unable to sustain its morning gains, closing in negative territory for the 10th time in the past 12 sessions. The benchmark S&P/ASX200 finished on Wednesday down 15.3 points, or 0.23 per cent, to 6,508.5, while the broader All Ordinaries dipped...
Extra resources are being urgently allocated to clear visa backlogs for skilled migrants, international students and tourists, the immigration minister says. Andrew Giles said while the pandemic affected visa processing, the system needed to be rebuilt after nine years of neglect under the previous government. Any short-term...
An energy market blueprint that would pay old and new generators to guarantee capacity in the electricity grid has been released for public scrutiny. Coal-fired power plants and new renewable assets would be eligible for payments under a proposed “capacity mechanism” put to energy ministers and...
Australia’s Antarctic expeditioners have taken an icy plunge to mark the shortest day of the year, although some will have to wait until the end of the month to see the sun rise. The traditional swim is part of their “Christmas celebrations” on the frozen continent...