Economy

'Not just chocolate biscuits': Deep corporate cost cutting tells tale of waning confidence

Mark Mulligan Falling real incomes in Australia and global growth concerns are undermining corporate and consumer confidence and put at risk the government’s fiscal objectives, a conference heard on Monday.

Mining

Western Australia's doing it tough, says Kerry Stokes

Mining needs to be more efficient, says Kerry Stokes

Julie-anne Sprague Billionaire Perth-based businessman Kerry Stokes says economic conditions in his home state are the worst in nearly 25 years.

Michael Pascoe

Why some wages growth might be a good thing

Some growth in wages might help bring workers to the services sectors that need them, says the RBA's Christoper Kent.

Michael Pascoe Unfortunately economics isn’t as simple as the average minister for employment might make out.

State of the States: NSW topples WA as strongest economy

The glow of the mining boom continues to fade.

NSW has knocked off Western Australia as the country's strongest economy, as the glow of the mining investment boom continues to fade.

Interest rates

Deutsche sees further rate cut next year

Soft employment could prompt the central bank to cut interest rates further next year, according to Deutsche Bank.

Mark Mulligan The unemployment rate in Australia may not peak until the end of next year or early 2016, forcing the Reserve Bank of Australia to cut the cash rate from the current 2.

Diary

Australian business calendar October 20 - 24

What's on in the world of business this week.

Economy

Cheers and jeers for RBA's Guy Debelle

Have the assistant governor's comments killed his chances of making it to the top job?

Sally Rose Across talkback radio, editorial columns, twitter, and stock forums this week, market watchers have been a abuzz with their views on Reserve Bank of Australia assistant governor Guy Debelle's warning...

Monetary policy

Rupert Murdoch lambasts central bank stimulus

James Chessell Rupert Murdoch used an after-dinner speech to the world’s most powerful finance ministers to argue against the widespread quantitative easing adopted by central banks, arguing the policy was...

Property

One in six homes bought by foreigners

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GENERIC- mortgage, mortgage stress, housing, rent, house, accommodation, realestate, forsale, queensland, loan.
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Foreign buyers are flocking to buy Australian property, snapping up one out of every six new homes.

Economy

Consumers stay pessimistic for eighth-straight month

Consumers remain pessimistic, but their sentiment isn't getting any worse.

Stephen Cauchi Consumer confidence has risen marginally, from 94.0 in September to 94.8 in October.

Transport

Abertis chief lashes ACCC for allowing $7b Queensland Motorways-Transurban deal

Jenny Wiggins The chief executive of Abertis, one of the world’s largest tollroad managers, has questioned the Australian Competition and Consumer Commission’s decision to allow Transurban to buy...

Economy

Property makes Australians the world’s richest, says Credit Suisse

'Remarkable figures': Property is at the heart of Australia's wealth, Credit Suisse reports.

Patrick Commins Thanks to their houses, Australians are the richest people in the world, according to the investment bank Credit Suisse.

Comments 50

Economy

Australian business confidence falls for second month as construction orders drop

A fall in forward construction orders has helped fuel a nosedive in business confidence.

Australian business confidence has taken a dive in the face of tough trading conditions and dwindling profits.

G20

Citigroup lauds Joe Hockey for G20's narrow focus

Federal Treasurer Joe Hockey has done well to keep the G20 meeting in Brisbane focused on a few topics, Citigroup says.

Vesna Poljak Citigroup Australia boss Stephen Roberts believes Australia’s presidency of the Group of 20 will go down as one of the most successful stewardships of the global forum because of Treasurer Joe...

Eco

Sydney house prices push families north to Queensland

for sale.

Bellinda Kontominas As Sydney house prices skyrocket and traffic congestion worsens, some enterprising workers are moving north to seek the lifestyle they want in Queensland while continuing their careers in NSW.

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Labour, energy costs – not dollar – blamed for manufacturing collapse

Jared Lynch Don't blame a high Australian dollar for the demise of the country's manufacturing sector.

Snowy role elevated as market concentration rises

Brian Robins The competition watchdog, the ACCC, has thrown its weight behind the privatisation of Snowy Hydro.

Property

Property investors switching to sell mode

More investors are thinking of selling properties they own.

Scott Parker Following a year of red-hot property gains investors may have finally had enough, with a new survey suggesting sentiment toward investing in residential property has turned from buying to selling.

Mining

WA Premier Colin Barnett lashes BHP, Rio over iron ore price squeeze

WA Premier Colin Barnett has fired a shot across the bows of mining giants Rio Tinto and BHP Billiton.

Julie-anne Sprague WA Premier Colin Barnett has delivered a stinging rebuke to BHP Billiton and Rio Tinto, telling the mining giants to "remember who your landlord is".

Property

Investor housing splurge 'can't continue forever': RBA

The Reserve Bank of Australia's head of financial stability Dr Luci Ellis

Low interest rates are doing what they are meant to do - boost housing prices, Reserve Bank official Luci Ellis says.