economy
Tariff turmoil – World Bank cuts global growth forecast
12 June
The World Bank has slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a “significant headwind” for nearly all economies. In its Global...[Read More]
Businesses and consumers caught between opposing forces
12 June
Will a second rate cut be enough to settle the nerves of businesses and consumers spooked by global trade uncertainty? Donald Trump’s tariffs have weighed on sentiment in recent months, stifling an expected economic recovery in 2025. Household...[Read More]
Ambassador to talk trade amid renewed EU negotiations
12 June
Increasing trade ties with Australia will be front and centre in a major address by the European Union’s leading diplomat. EU ambassador Gabriele Visentin will speak to the National Press Club on Wednesday, as Australia and the trading bloc revive...[Read More]
‘Not unreasonable’: PM hopeful on summit compromise
11 June
The prime minister is confident unions and business groups will find common ground in dealing with flagging rates of productivity. Anthony Albanese announced a productivity roundtable would be held in Canberra in August to find ways on lifting...[Read More]
Australia seeks ‘best deal’ after UK tariff carve-out
5 June
Australia is hoping to follow in an ally’s footsteps after Donald Trump granted a single exemption to his supercharged tariffs. The US president revealed he will double to 50 per cent tariffs on steel and aluminium imports on every trading partner...[Read More]
Unions hail pay boost for millions of low-paid workers
5 June
Nearly three million low-paid workers will take home an extra $32 a week in pay after the industrial umpire decided to make up for falling real wages and living standards in recent years. The Fair Work Commission delivered a 3.5 per cent increase...[Read More]
US wants Aust to up defence spending to 3.5 per cent
5 June
US Defense Secretary Pete Hegseth asked Australia to increase its defence spending to 3.5 per cent of gross domestic product during a meeting with Australian Defence Minister Richard Marles, the Pentagon said. The defence chiefs also discussed...[Read More]
Insurance cost warning after disasters hit bottom line
4 June
The economic impacts of natural disasters will extend beyond the federal budget, environmental groups warn as households are told to brace for higher insurance premiums. Treasury figures show a loss of $2.2 billion from economic activity following...[Read More]
Economy stalls as private sector fails to pick up slack
5 June
Temporary factors might have dragged down Australia’s economy but there are warning signs the challenges it faces are more entrenched. Economic growth figures, released by the Australian Bureau of Statistics on Wednesday, paint a gloomy...[Read More]
US economic growth to slow to 1.6 per cent, OECD says
5 June
US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump’s erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation...[Read More]
Weak business investment underlines productivity battle
5 June
Australia’s dire productivity performance doesn’t look like rebounding any time soon, with troubling implications for the Reserve Bank’s interest rate path. Data released on Thursday reinforced the challenge the nation faces to get...[Read More]
US gives countries deadline for trade offers: report
4 June
US President Donald Trump’s administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according...[Read More]
National accounts to reveal Australia’s economic pulse
4 June
Australia’s economy is expected to show a mild slow-down when it comes in for its quarterly health check on Wednesday. National accounts figures are predicted to show gross domestic product grew 0.4 per cent in the first three months of 2025 after...[Read More]
Restaurants on the brink as business failures plateau
29 May
The future of many businesses struggling to stay afloat rests upon the Reserve Bank and Donald Trump. Business conditions in Australia remain perilously difficult, with insolvency levels at record highs in April, CreditorWatch reported in its...[Read More]
Egg, housing costs might fry hopes of earlier rate cut
29 May
A jump in the cost of building and renovating homes is not helping the case for more rate cuts. Headline inflation remained steady at 2.4 per cent in the 12 months to April, the Australian Bureau of Statistics reported on Wednesday. But the result...[Read More]