US

Hiring surge as US gains most jobs in three years

Victoria Stilwell A November hiring surge ranging from factories to offices and retailers powered the US economy to create the largest number of jobs in almost three years.

Ross Gittins

The lessons we have learned on recession

Ross Gittins dinkus Dinkus

Ross Gittins With the economy growing below par and spirits so flat that people have started making up new and silly terms like "technical income recession" just to spook us, it's time we put our present...

Malcolm Maiden

Reserve Bank caught in a Christmas cone of silence

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Malcolm Maiden One thing worth remembering as the market places bets that the Reserve Bank will cut its cash rate rapidly is that the bloke who runs it aims to move methodically.

Economy

Doing more with less as incomes shrink

Illustration: Simon Bosch.

Mark Mulligan Although the value of the goods and services produced in Australia continues to expand, the income flowing to Australians is shrinking.

Tax

We don't dodge tax, it's Google, claim rich Australians

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Nassim Khadem Laws that force wealthy owners of private businesses to divulge their business income and how much tax they paid will do nothing to bring in revenue, but instead are seen as a gross invasion of...

Economy

Australian wages growth hits the wall

The end of the mining boom has rapidly slowed wages growth in Australia.

Max Mason Australian wages rose more than in any developed G20 nation between 2007 and 2013. But then something changed.

World economy

Grandmaster Flash’s inflation rap outdated in lowflation world

Simon Kennedy and Rich Miller Three decades ago, Ronald Reagan called surging prices "as violent as a mugger," while Grandmaster Flash rapped about "double-digit inflation" making him "wonder how I keep from going under.

Michael Pascoe

RBA does the interest-rate cut three-step

Jawboning: RBA governor Glenn Stevens has said the RBA will give plenty of warning if it decides on a different course for interest rates.

Michael Pascoe This week was marked by the start of the Reserve Bank three-step, a dance that could finish with the bank changing its cash rate.

Economy

Tony Abbott risks recession as his infrastructure pledge falters

Prime Minister Tony Abbott in Parliament on Thursday.

A year after Tony Abbott pledged to be an "infrastructure prime minister", he risks becoming the first Australian premier to preside over a recession since the early 1990s, in part due to the snail's...

Eco

No tax cuts on agenda to boost GDP, say economists

Despite a weaker-than-expected September quarter GDP figure of 0.3 per cent, economists still believe the nation is on track for 2.5-3 per cent growth in 2015.

Stephen Cauchi The Government is unlikely to deliberately loosen fiscal policy in the forthcoming Mid-Year Economic and Fiscal Outlook to try and stimulate growth, according to economists.

Economy

Westpac's Bill Evans joins growing RBA interest rate cut rush

Westpac's Bill Evans is tipping an interest rate cut

Gareth Hutchens One of Australia's most watched chief economists believes the Reserve Bank will have to cut the cash rate dramatically in coming months in a bid to pump life into a quickly-deteriorating economy

Gareth Hutchens

Australia's economy is still growing, so why does it feel like we're struggling?

It doesn't matter how much we are producing, but how much we are earning off the back of that, says Chris Richardson, from Deloitte Access Economics.

Gareth Hutchens Australia has an economic growth rate that is still the envy of the developed world, so why does it feel like we are struggling?

Economy

Retail sales beat expectations in October

Retail sales were bolstered by higher spending on clothes and shoes.

Mark Mulligan Australians continued to spend more on household items, electronics, clothing and footwear in October, although the rate of growth across all retail categories slowed to 0.

G20

Global tax war looming and US won't be backing down

Randy Robason.

Nassim Khadem The United States won't give up its right to tax multinationals, and nations will go to war soon with countries like China on taxing rights, a US tax head says.

GDP weak but not conclusively so

Malcolm Maiden dinkus Dinkus

Malcolm Maiden There is income weakness in the economy and it throws up similar questions for the government and for investors.

Weak economy to push interest rates down

Living standards may fall: treasurer.

Peter Martin, Mark Kenny An unprecedented further cut in interest rates to levels never seen before in Australia is now virtually certain as the national economy sputters with dwindling growth and disposable incomes slipping...

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HSBC commodities boss backs Australia's competitive edge on LNG

Jean-Francois Lambert, the London-based head of commodities and structured trade financing at HSBC.

Angela Macdonald-Smith Jean-Francois Lambert believes Australia will retain a huge advantage in the commodity space versus the rest of the world.

Michael Pascoe

GDP: What are you going to do about it, Joe Hockey?

Treasurer Joe Hockey at Parliament House on Wednesday.

Michael Pascoe It’s all very well for Treasurer Joe Hockey to hope for better economic growth, but it’s reasonable to ask what he’s doing about it.

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Eco

GDP: Australia enters income recession, dollar dives as economy stalls

Generic business, cash, money, dollar, dollars, finance, financial, economy, economics, banking, bank image.

Mark Mulligan The Australian dollar plummeted to fresh four and a half year lows on Wednesday as the country entered a technical income recession and gross domestic product expanded just 0.

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Eco

Petrol prices surged by over 9 per cent this year, but relief is coming: ACCC

The average retail price for regular unleaded petrol in the country's five largest cities was 150.6 cents per litre in the 2013-14 financial year – a 9.3 cent increase on the previous year.

Matt O'Sullivan Motorists were slugged the third-highest prices on record for filling up at the bowser this year, a report from the competition watchdog has found.