Economic Trends

Qantas has recorded a 13 per cent fall in its post-tax profit to $873 million in the six months to December 2023, largely driven by lower airfares as its capacity returns to normal after the COVID-19 pandemic.

Australian workers enjoyed an average base pay rise of 0.9 per cent in the December quarter, leading to an annual increase of 4.2 per cent over 2023, according to the Australian Bureau of Statistics.

Brad Banducci is retiring as the supermarket giant announces a massive loss and faces ongoing allegations of price gouging and unfair practices with suppliers.

Qantas has named John Mullen as its next chairman, with the former Telstra chair taking over from Richard Goyder later this year. The ASX finished lower for the day, dragged down by a near-7 per cent drop from Woolworths.

A year after BHP singled out nickel as a key growth area for its business, the metal's price has plummeted. As it weighs up closing its nickel operations, BHP's boss says it's unlikely the metal will be profitable before the end of the decade.

Data from CoreLogic shows the price difference between houses and apartments has widened to a new record as land values rise, a limited number of freestanding houses are being listed to purchase, and people desire more living space.

Our political leaders have shied away from confronting negative gearing, but encouraging ownership of multiple properties ensures house prices remain out of reach for the next generation, writes Ian Verrender.

Fewer employers plan to add staff compared with last year, but not many have plans for mass lay-offs either, leaving the jobs market in wait-and-see mode at the start of 2024.

Bank executives and economists expect the next move by the Reserve Bank will be a cut to the cash rate, rather than a hike.

Gains in the mining sector were pared back as the trading day unfolded and despite a broad based sell-off, as some company results failed to impress, the ASX 200 closed mostly flat.

Professor Ross Garnaut says Australia's economy experienced a "lost decade" from 2013 to 2023. Can these ideas turn things around, asks Gareth Hutchens.

The Reserve Bank of Australia did no independent modelling of the inflationary impact of the stage 3 tax cuts, the ABC has confirmed.

Economists and traders expect the US Federal Reserve to lead off a global round of interest rate cuts. But if you look at the recent economic data, there's a building argument for the Reserve Bank of Australia to beat them to it.

The Australian share market closed higher as miners benefited from a rise in commodity prices, while insurers IAG and QBE and Inghams closed lower after releasing their latest earnings results missing analyst profit expectations. After years in the making, the OECD has released Pillar Two of its global plan to collect more tax from multinationals. But will countries implement it?

Economists warn the next six months are going to be tough for job hunters, but some industries are worse than others

Unemployment hits 4.1 per cent with an estimated 500 jobs created in January, according to the Australian Bureau of Statistics.

The ASX ended higher on Thursday despite data from the ABS showing the unemployment rate climbed to 4.1 per cent in January. Meanwhile, some major companies posted rising profits, including gas giant Origin and Wesfarmers. Read how the day unfolded.

Australia's tax system is stacked so heavily against younger people that it's threatening the social compact, former Treasury secretary Ken Henry has warned.

Households are spending at a 15-year low as inflation and interest rates erode their budgets, but a "life-changing" employment result is in sight, according to Treasury secretary Steven Kennedy.

Despite a widespread housing shortage, new home builds have dropped significantly since COVID, as the construction industry calls for government reform.

The ASX closes almost a per cent lower as shares plunged in the US and here on concerns hot inflation figures will push interest rate cuts back. The CBA boss warns the RBA's last interest rate rise is only hitting borrowers this month. Look back on our business blog to see how today's events unfolded.

What should we really expect if Australia finally does introduce fuel efficiency standards? What could it cost us upfront when buying new cars? And how much could we save later in lower fuel bills, asks Peter Martin.

WA's revised GST deal is set to cost the federal government $50 billion over a decade, not $39 billion as estimated, economists say, warning that it's not justified and should be changed.

With wholesale power prices falling, you would be forgiven for thinking relief from high electricity bills is on the horizon — but the complexities that exist in our power supply industry mean we'll be waiting a while yet, writes Ian Verrender.

The Australian share market loses ground as a failed medical trial for CSL sends the market heavyweight biotech sharply lower. Meanwhile, JB Hi-Fi gains on consumer resilience. Look back on how the trading day unfolded.