G20

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

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...

Comments 212

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.

Comments 8

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.

Comments 169

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.

Economy

GDP figures send a 'serious warning': Treasury secretary Martin Parkinson

Outgoing Treasury secretary Dr Martin Parkinson warns living standards are at risk.

Georgia Wilkins Outgoing Treasury secretary Martin Parkinson says the latest economic figures show tax reform is urgently needed in order to stop future living standards from falling.

RBA leaves rates unchanged, flags concern about global weakness

RBA governor Glenn Stevens.

Mark Mulligan The Reserve Bank of Australia held the cash rate at 2.5 per cent on Tuesday for the 15th policy meeting in a row, reiterating that its current settings were right for fostering sustainable growth.

NSW

Tourism more than 'boardies and thongs', say NSW industry chiefs

Tourism makes a significant contribution to the NSW economy, say industry chiefs.

Jamie Freed NSW politicians need to get over their view of thinking of tourism as a "boardies and thongs" exercise and realise it drives $33 billion in spending in the state every year, says Tourism & Transport...

Economy

RBA keeps interest rates on hold at 2.5%

RBA governor Glenn Stevens.

Mark Mulligan The Reserve Bank of Australia on Tuesday held the cash rate at 2.5 per cent for the 15th policy meeting in a row.

ABS

Flat out: Apartments drive October building approvals rebound

Home building approvals have rebounded, driven by a strong surge in apartment blocks.

Eco

Bears growling: Deutsche Bank shifts thinking with rate cut prediction for 2015

Deutsche Bank confirmed that former currency trader Andy Donaldson was first suspended and then fired in June after the bank uncovered ­irregularities.

Mark Mulligan Deutsche Bank on Tuesday joined a growing band of forecasters which believes that stubbornly high unemployment and other weakness in the Australian economy could force the Reserve Bank of Australia...

Eco

Dry weather set to weaken crop levels by 16 per cent

Farmers were most pessimistic in South Australia and Victoria, and around 31 per cent of farmers surveyed across the nation expected conditions to worsen.

Tim Binsted The federal government’s agricultural forecaster expects a big drop in the nation’s winter crop and a significant reduction in summer planting as sustained dry conditions hit key cropping...

Eco

RBA may be forced to cut interest rates in 2015, not raise them

Team suburbia: Hugh Mackay creates a fictional community as a laboratory for his ideas.

Mark Mulligan Bets are mounting that weakness in the Australian and global economy could force the Reserve Bank of Australia to cut interest rates over the next 12 months, despite an almost consensus view among...

Tax

Tax the rich not the poor, corporate advisers tell Tony Abbott

Prime Minister Tony Abbott in Question Time on Monday.

Nassim Khadem Corporate advisers are calling on the Abbott government to consider taxing the wealthy in order to achieve a hike in the GST and cuts to personal and company tax.

Economy

Oil-fuelled low inflation could change RBA's rates view

energy

Vesna Poljak The Australian economy will not be immune from the falling prices that are ravaging Europe, and falling oil costs will only feed this trend.

Why Joe Hockey's budget flopped so badly

Ross Gittins dinkus Dinkus

Ross Gittins Who could have predicted what a hash a Coalition government would make of its first budget?

Comments 72

'Heat coming out of the market': House price growth continues to slow

Mark Mulligan Capital city house price growth continued to slow in November, with only Sydney, Brisbane, Perth and Hobart showing any month-on-month advance, according to the latest report from CoreLogic RP Data.

Finance Minister Mathias Cormann in spotlight over Trio 'broken promise'

Challenge ahead: Senator Mathias Cormann has a problem to resolve.

Adele Ferguson and Ruth Williams Days after losing the battle to dilute financial advice reforms, Finance Minister Mathias Cormann is being accused of breaking a promise to victims of the fraud-ridden Trio Capital.