Rising interest rates have been blamed for a downturn in housing approvals, but tax changes in the federal budget could lead to an uptick. Figures from the Australian Bureau of Statistics showed the total number of dwellings approved in April fell by 3.4 per cent from...
Workers on the minimum wage will receive more than $1000 a week for the first time, but businesses and economists warn the pay bump could fuel inflation and more rate rises. Industrial umpire the Fair Work Commission handed a 4.75 per cent pay boost to almost...
The divide between people who earn income from investments and those who work for a living could be exacerbated by the artificial intelligence revolution, economists at Australia’s largest business lender warn. While the adoption of AI is expected to boost productivity, without policy intervention the benefits...
More and more Australians are finding artificial intelligence so useful they are willing to pay for it. An analysis of 8.3 billion Westpac customer credit card and debit card transactions has found more than 150,000 retail customers in March paid for at least one AI subscription...
Despite some progress and a world-class superannuation system, retirement remains a source of financial anxiety for many Australians, according to a new report highlighting the value of financial advice. Just 51 per cent of Australians feel prepared for retirement, according to the third annual Rethinking Retirement...
Australia’s economy slowed significantly despite surging data centre investment, but interest rate rises and the effects of the Iran war mean a downturn may be inevitable. Gross domestic product grew at 0.3 per cent in the first three months of the year, down steeply from the...