Electricity blackouts and crippling price spikes won’t be solved by new solar and wind farms alone, the Australian Energy Market Operator (AEMO) warns. AEMO CEO Daniel Westerman has used a business summit to argue for the so-called capacity mechanism that would pay electricity generation companies to...
The treasurer is concerned aggressive interest rate hikes by the US central bank will add to inflationary pressures in Australia. He told reporters the widening gap between interest rates in the US and Australia risked flowing through to higher inflation in our economy. “When there’s a big...
The local share market has finished almost exactly where it began, with gains by the big banks balanced by losses in the mining and energy sectors ahead of the release of further monthly US inflation data. The benchmark S&P/ASX200 index on Wednesday finished up 2.5 points...
Whether you’re planning to retire soon or have another 10 years or so before you actually do, you want to be prepared when the time comes. After all, having enough money to live a happy, comfortable retirement is essential. But how much is enough? The Association of...
The surprise slowdown in the pace of rate rises risks dragging out the rate hiking cycle and forcing the central bank to go even higher than expected to dampen demand. The Reserve Bank of Australia’s 0.25 percentage point lift is the sixth consecutive rate hike and...
The federal budget is likely to remain in the red for at least four years despite a $50 billion turnaround in the government’s bottom line. Treasurer Jim Chalmers and Finance Minister Katy Gallagher handed down the final budget outcome for 2021/22 on Wednesday, posting an underlying...