News

Labor backs down on tax disclosure

The local share market dropped 1.6 per cent after the US central bank chairman said interest rates needed to rise further.

CPI-linked wage deals hit 7pc-plus

The Australian share market has snapped its seven-day winning streak, with investors apparently apprehensive about Jerome Powell's testimony to the US Congress.

The pullback in non-essential spending continues as households scrimp on nice-to-haves so they can meet higher mortgage repayments.

Tech crunch gives way to ‘real businesses, real money’

Australian shares closed up nearly 0.9 per cent, reaching their highest level since April while the local currency plunged after the release of the RBA minutes.

Transition far too slow, says AEMO

The local bourse has finished at its best level since May 1 after six straight days of gains as "FOMO traders" rush to catch up with the bulls.

EnergyAustralia: Macquarie in lead

The local share market closed higher for its fifth straight session, rising 1.1 per cent for its best day since April 11, to finish the week up 1.8 per cent.

A $100 million fund will be set aside for the nation's local councils in a bid to make key community facilities more energy efficient.

Jobs surge adds to rate pressure

The local share market has finished up 0.2 per cent, while the Australian dollar is trading more than 68 US cents for the first time since February.

China’s push to stimulate economy

The local market finished up 0.3 per cent as moderating US inflation diminished the chance of a Fed rate this week, but CSL was serving as a major drag.

Coal boom to fund green power shift

The local share market has finished up 0.2 per cent ahead of a busy week of risk events headlined by the Federal Reserve meeting.

Labor to lift big super’s advice role

Global markets are eagerly awaiting what the US central bank decides to do on rates when it meets this week, with some economists predicting a rise.

US stocks have closed higher as investors wait for inflation data and a decision from the country's central bank.

Rate rises: banks warn of recession

The local share market has finished up 0.3 per cent for the day as hopes grew for a pause in US rate hikes, but closed the week down 0.3 per cent.

Top earners carry more of tax burden

The ASX200 has closed down 0.26 per cent following a surprise overnight rate hike from the Bank of Canada that emphasised how far rates might rise.

Australia has recorded two consecutive quarters of declining retail turnover in real terms but the migration boom is expected to underpin a recovery.

Productivity takes biggest hit yet

The local share market has closed down 0.2 per cent following the Tuesday's rate hike and underwhelming gross domestic product figures.

Australia's economic performance is starting to wane, with the economy growing by 0.2 per cent in the March quarter, down from 0.6 per cent.

Pressure on Labor wages policy

The local bourse has fallen 1.2 per cent, with every sector in the red except utilities after the Reserve Bank hiked interest rates once again.

The Reserve Bank of Australia has lifted the nation’s official cash rate to 4.1 per cent – a 25 basis point jump which takes it above four per cent for the first time since April 2012.