Michael West

Policy of inaction on multinational tax

Michael West Joe Hockey can say what he likes. The outlook for any substantial action on multinational tax shifting is bleak.

Michael Pascoe

Why higher petrol prices would be good for you, me and Joe Hockey

Will petrol prices take a plunge for the Christmas season?

Michael Pascoe Joe Hockey's budget was deeply unpopular, but here's a sensible idea that the punters will hate even more.

Comments 60

Taxation

OECD slams Australian budget measures, 'close monitoring' required

Treasurer Joe Hockey: obsession with the budget deficit is impoverished, desperation thinking.

Peter Martin, Nassim Khadem The Organisation for Economic Co-operation and Development has taken aim at a raft of Australian budget measures, describing one as potentially unsustainable and another as needing close monitoring.

Comments 92

Energy

Oil explained: why the price is falling and dragging the sharemarket down with it

Oil prices have fallen after OPEC cut its forecast on 2015 demand.

Stephen Cauchi OPEC's decision to keep pumping out oil despite big price drops has had major ramifications for the global and Australian economies. What's going on?

Rates

RBA eyes rate cut bets in December meeting minutes

RBA governor Glenn Stevens.

Mark Mulligan The Reserve Bank has taken on board market expectations of an interest rate cut in 2015, but has given no indication yet that it is considering such a move.

Economy

Budget update may be further drag on consumer confidence

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Vesna Poljak Treasurer Joe Hockey’s budget update has lent a further dovish element to the economic outlook which will support the case for interest rate cuts in 2015.

Commodities

Weak commodity prices, slowing China economy to hit federal budget

Coal

Brian Robins In its Mid-Year Economic and Fiscal Outlook, the government has slashed to 6.75 per cent its forecast for China's economic growth for 2015.

Hard times ahead for Generation Less

MERCURY NEWS LUNCHEON
World Vision CEO and Reverend Tim Costello, who is in town to talk to a business lunch at City beach Function Centre on behalf of the Flagstaff Group.
Friday 22 July 2011
Pic by Andy Zakeli

Rick Feneley and Gareth Hutchens Since World War II, Australians have assumed their children would enjoy a better standard of living than they did. That assumption has been correct – until now.

Michael Pascoe

Take a chill pill and go have a confident Christmas

Not panicking ... Reserve Bank governor Glenn Stevens

Michael Pascoe According to RBA governor Glenn Stevens, we still get at least 17,000 TVs for every tonne of iron ore. So go and have a confident Christmas.

Economy

Decoding the RBA's Glenn Stevens

RBA governor Glenn Stevens.

Mark Mulligan Economics and markets reporter Mark Mulligan looks at the key topics and takeaways from RBA governor Glenn Stevens' latest in-depth interview, during which he said the Australian dollar would...

Dollar

RBA governor Glenn Stevens says Australian dollar 'better' at US75¢

Glenn Stevens

Jacob Greber and Michael Stutchbury Reserve Bank of Australia governor Glenn Stevens wants the dollar to fall to levels last seen a decade ago.

Budget

Australia's budget woes unlikely to threaten AAA ratings

Joe Hockey's budget headaches are unlikely yet to lead to higher borrowing costs for the country, credit analysts say.

Australia is likely to keep its triple-A ratings even as the government's looming budget review is set to show a marked deterioration in its finances, two ratings agencies said on Thursday.

Analysis

More in work, more unemployed and the unemployment rate at a long-term high

Confusing job figures

Peter Martin More of us are employed than ever before, yet we are putting in fewer hours than at any time in the past six months.

Economy

Australia's unemployment rate rises despite record new jobs

Unemployment edged up to 6.3 per cent.

Mark Mulligan Australia’s unemployment rate rose slightly, to 6.3 per cent, in November, despite the creation of more than 40,000 jobs during the month.

Economy

Downbeat economic indicators a 'a very disturbing result'

Christmas shoppers in Sydney's Pitt Street Mall.

Mark Mulligan, Madeleine Heffernan Further evidence of flagging consumer sentiment and a cooling housing market on Wednesday added to gathering gloom about the Australian economy and piled more pressure on the Reserve Bank of...

Gareth Hutchens

Consumer confidence slump: Should we worry?

Shopping

Gareth Hutchens Consumer confidence has now fallen so low that it is back to financial crisis levels.

Comments 131

Lending

Housing loans rise 1 per cent in latest ABS reading

Australians have $1.34 trillion in housing loans outstanding.

Mark Mulligan The total value of housing-related loans excluding alterations and additions rose 1 per cent, seasonally-adjusted, between September and October, according to the Australian Bureau of Statistics.

Economy

Consumer confidence plunges to 3-year low

Concern about job security and the economy have pushed consumer confidence to the lowest level since August 2011.

Mark Mulligan Consumer sentiment plunges to "very disturbing" levels amid waning optimism for the housing market and concerns about job security, Westpac says.

Lending

Financial regulators united in attack on risky loans

Moves to curb risky lending could take some of the heat out of Sydney and Melbourne's property markets.

Georgia Wilkins and Nassim Khadem Australia's financial regulators have launched a joint attack on risky home lending as investment and interest-only loans threaten the stability of the financial system.

Loans

Watchdog APRA cracks down on risky home lending with 'macroprudential' measures

Record low interest rates, high household debt and strong competition are ramping up risk in the home lending market.

The banking watchdog is cracking down on risky mortgage lending as the property market heats up.