Housing

New homes sales rise 3 per cent in October to four-month high

Sales of new homes in Australia rose in October to their highest in four months, a sign of resilient demand that should encourage further building, an industry survey showed on Thursday.

Thousands of jobs to go on planned power price cut

Networks NSW, which operates the three government owned distributors Ausgrid, Endeavour Energy and Essential Energy said as many as 4600 jobs could go.

Brian Robins Hard on the heels of flagged cuts to electricty prices, the NSW power companies have warned that thousands of jobs would be lost if the

Business spending climbs in September quarter

The modest increase in business spending on plant, equipment and buildings should continue into 2015.

Mark Mulligan Business spending on new plant, equipment and buildings rose slightly in the September quarter, as investment in non-resource sectors continued to compensate for the downturn in mining-related...

Economy

Yellen's 'optimal' model calls for Fed rate hike this year - in theory

Optimal policy? Ms Yellen has cautioned economic models are mere guideposts for central bank policy makers.

Federal Reserve Chair Janet Yellen has said the tenor of economic data will decide when the US central bank raises interest rates.

Energy

Coal not the panacea for poverty

Coal.

Stephen Cauchi Cheap coal-fueled electricity is touted by miners and politicians as a way out of poverty for developing nations, but apparently Africa hasn’t been listening.

Economy

Construction work falls 2.2% in September quarter

The amount of construction work done in Australia fell 2.2 per cent in the September quarter, official figures show.

Peter Martin

OECD tells Joe Hockey: Don't cut budget too hard too soon

Treasurer Joe Hockey during question time in Parliament House Canberra on Tuesday 30 September 2014. Photo: Andrew Meares

Peter Martin The OECD has warned treasurer Joe Hockey the economy might not be strong enough to withstand further big budget cuts.

Economy

Another recession may be devastating for heavily indebted countries, report shows

Greece will again be in the firing line in the event of a new global recession.

Stephen Cauchi Australia would cope with another recession soon but many of the world's most indebted countries would not, a report shows.

Growth

EU investment plan aims to spend billions to spur economy

James Kanter European Union authorities are set to unveil a long-awaited investment plan this week with the ambition of channeling 315 billion euros($460 billion) into public infrastructure projects like...

Rich list

Australia's ultra rich women worth more than the men

Gina Rinehart was found to be Australia’s richest person in 2014, according to the BRW Rich List, with wealth of $20.01 billion.

Lucy Cormack Women may be scarce in the exclusive club of ultra wealthy Aussies, but on average they are worth more than twice as much as their male counterparts.

Economy

RBA opens door to interest rate cut

The RBA has misgivings.

Mark Mulligan Low interest rates were working in Australia, and any further cuts would also be effective, says Reserve Bank of Australia deputy governor Philip Lowe.

Michael Pascoe

RBA provides relief from Doomsday merchants

Voice of reason: The RBA's Dr Philip Lowe.

Michael Pascoe I’m becoming a little worried about the Reserve Bank deputy governor, Philip Lowe. If he keeps making so much sense, seeing the big picture through the political posturing, there are dark...

Australian growth needs an Asia rethink says RBA

Manila.

Mark Mulligan Economic, cultural and educational links with Asia were becoming increasingly important to Australia's prosperity and the country needs to rethink its growth model, Reserve Bank of Australia deputy...

Tax

Top companies avoid full tax disclosure, for now

Andrew Leigh:

Nassim Khadem Australia's biggest companies can keep their tax bills secret for another year after the federal government rejected calls to bring forward laws designed to increase transparency.

NZ

New Zealand wants to reverse brain drain with jobs pitch to Australian professionals

New Zealand says it has plenty to offer Australians who relocate.

Mark Mulligan Australia has taken its engineers, its builders, its IT professionals and its healthcare workers. Now New Zealand wants them back.

Comments 43

Billionaire Tony Fung's plans to build world's biggest hotel in Cairns put on ice

An artist impression of Aquis, the proposed mega casino for Cairns.

Aquis Group, the developer that's planning to build the world's largest hotel in the tropical Australian city of Cairns, put the project on review after a related casino takeover fell through.

Ross Gittins

India developing despite ignoring manufacturing sector

Ross Gittins.

Ross Gittins India has gone from a developing to a developed economy without worrying about building a big, export-oriented manufacturing sector.

Comments 48

RBA upbeat on outlook for China resource demand

Economy still evolving: The Bank of China.

Wayne Cole Chinese demand for Australian resources is likely to stay strong over the long run as the Asian giant continues to urbanise and mature into a consumer-led economy, a top central banker said on Friday.

Agriculture

Aussie mango growers seek to double exports

Kensington Prides: Exports currently make up only a tiny proportion of the Australian mango market.

Soon American and Chinese consumers may be able to bite into our Kensington Pride and Bowen mangoes, with first exports to the US expected to start by February.

Growth

US will be the world's recovery driver in 2015, Goldies says

Uncle Sam to the rescue: The American economy

Vesna Poljak The United States economy will carry the rest of the world next year, but the market is underestimating how fast the Federal Reserve will rack up rate rises once they start tightening in September,...