AAP

Australian workers will be entitled to more superannuation while some households face bigger power bills in the new financial year.

The benchmark S&P/ASX200 index slid nearly 2 per cent in the last trading session of the financial year, amid worries over rising rates.

Job vacancies grew by 13.8 per cent in the three months to May and stand at more than double the number recorded before the COVID-19 pandemic set in.

The power market operator AEMO has released a roadmap for the sector as it continues to transition to more renewable and gas energy sources.

The Australian share market has fallen almost one per cent, ending a four-day winning streak amid renewed concerns of a global recession.

Australian shares extended gains from the previous session as a lift in commodities prices and fund buying ahead of the year-end helped the market close firmly higher.

The 2021 census shows that households with a mortgage have doubled in the past 25 years, while those owned outright have grown by 10 per cent.

Consumer confidence has improved for a second consecutive week after a slump earlier in the month as a result of a large rise in interest rates.

The benchmark ASX indices have rallied nearly two per cent by the close, with miners and financial stocks leading the charge.

The Bank for International Settlements has warned of the risk of stagflation as the global economy faces slower growth and high inflation.

The ASX200 rallied in the final hour of trading on Friday to finish up 0.8 per cent, and 1.6 per cent higher for the week.

Qantas will launch direct flights from Perth to Johannesburg and Jakarta as Western Australia continues its reopening after years of border closures.

Employment Minister Tony Burke denies the country is seeing a wage price spiral as policy makers seek to tackle inflation.

The Australian share market has closed modestly higher despite losses by iron ore miners and oil producers on recession fears.

The reassessment of a proposed new bridge over the Helena River near Midland will represent a rare win for local traditional owners regarding heritage concerns.

An inquiry into sexual misconduct within Western Australia's mining sector is set to deliver its report, days after another alleged on-site assault.

The Australian share market has resumed its downward march after snapping a seven-session losing streak, closing down 0.2 per cent.

The Australian Energy Market Operator has outlined a staged approach to restoring the national energy market following its intervention last week.

The ASX has enjoyed its first winning day in the past eight sessions after bargain hunters swooped in to snap up bargains and some positive sentiment returned.

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

Hefty losses in energy and mining stocks have weighed heavily on the benchmark ASX indices.

A candidate backed by billionaire Clive Palmer will join the Senate crossbench following the declaration of the vote count in Victoria and Western Australia.

Energy regulators have put forward a "capacity mechanism" that would pay generators to guarantee supply to an evolving national grid, similar to the scheme already in effect in Western Australia.

The ASX has dropped to a 19-month low after its sixth straight losing session and worst weekly performance since March 2020.

The ASX200 index fell to its lowest level since November 2020 at midday, dropping 2.1 per cent in morning trade as global markets continue their meltdown.

Prime Minister Anthony Albanese met with state and territory leaders in Canberra face-to-face on Friday for the first time since being elected.

The Australian share market has been unable to sustain its morning gains, closing lower for its fifth straight session.

Industry says Australian businesses are faced with workforce shortages supply chain disruptions and impacts of rising inflation.

The local bourse has closed lower for the sixth session in the past seven as traders digest the possibility of a supersized US rate hike overnight.

The Fair Work Commission has recommended a 5.2 per cent pay rise for Australia's low-paid workers, equating to an extra $40 a week.

The local share market has suffered its worst losses since 1 May 2020, and is now down 7.3 per cent in June.

As the federal government weighs up its options to deal with the energy crisis, a former prime minister says decisive action is needed in the gas market.