The Economy


Turning up the heat on RBA

Vesna Poljak 8:12 AM   Australia faces pressure to cut interest rates even if the domestic economy does not worsen, says BNP Paribas.

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Hillary Clinton comes out against TPP

Democratic presidential candidate Hillary Rodham Clinton brushes off a lady bug on Wednesday.

Anne Gearan and David Nakamura 1:39 AM   US presidential candidate would not support the Trans-Pacific Partnership (TPP) based on what she knows of the deal so far.

Treasury to Turnbull: We've got your back on tax

The head of Treasury's tax analysis division, Roger Brake, says that tax reform involves tradeoffs.

Nassim Khadem 3:55 PM   A top Treasury official has publicly pledged the department will help Prime Minister Malcolm Turnbull sell the case for difficult tax reform.

Hillary Clinton against the TPP, so what?

Hillary Clinton wants to greater penalties to discourage risky behaviour by Wall Street traders.

Nick O'Malley 2:06 PM   Hillary Clinton's seemingly explosive comments about the Trans-Pacific Partnership are not that convincing, but are they a blow to Australia?

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TPP: The devil's in the (unknown) details

Michael West dinkus

Michael West 12:46 PM   Signing up to the TPP is a bit like buying a used car over the phone with no detail as to the state of the vehicle, but with glowing assurances from the dealer that "she's a beauty".

$4 trillion credit threat to global economy

With the world facing a "triad of policy challenges", the International Monetary Fund tells the Fed there's no hurry to raise rates.

Mitra Taj 12:00 PM   As the world faces "triad of challenges", the International Monetary Fund tells the Fed there's no hurry to raise rates.

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How the oil crash is hurting the economy

Strategists at Credit Suisse believe that so far, the global economy has seen only the storm from lower crude, not the rainbow that follows.

Luke Kawa   Remember when the oil price plunge was going to be a huge economic tailwind?

Bundesbank reveals its gold stash

Germany reveals where the gold treasure trove lies.

X marks the spot as Germany's central bank publishes a full list of all its gold holdings and where the loot is located.

ATO widens its multinational tax avoidance net to 80 companies

Tax commissioner Chris Jordan and Treasurer Scott Morrison on Wednesday.

Heath Aston   The Australian Tax Office will open negotiations with 80 multinational companies to encourage them to "restructure" in order to pay more tax on profits generated in Australia.

Uber, Airbnb confirm they send profit offshore

Uber is under scrutiny about the taxes it pays

Nassim Khadem   Uber and Airbnb have revealed in submissions to a federal inquiry that they route profit through companies in the Netherlands and Ireland, where taxes are lower.

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Tax Office targets Uber drivers

The Tax Office said as part of its data-matching program it will analyse data from financial institutions and identify drivers that earn income from driving for Uber and similar services.

Nassim Khadem   Uber and other ride-sourcing drivers are being warned by the Tax Office to declare their income and pay GST before the end of the month.

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Super change is coming


Michael Pascoe   You might have missed it if you blinked last week, but we suddenly seem to have something like consensus that the over-generous nature of our superannuation system for the well-off will be changed.

Tax plan puts companies in firing line

Treasurer Scott Morrison laments the "pitched battle" over industrial relations reform that has pitted business against unions is "boring, it's not helpful".

Nassim Khadem   The OECD's plan to stop multinational tax avoidance could put companies in the middle of disputes between revenue authorities, experts said.

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TPP greenlights cheaper global roaming

One of the provisions could also slash the often exorbitant fees that mobile providers charge for Australians using their phones abroad.

David Ramli   Australians could enjoy much cheaper calls when travelling overseas thanks to global roaming provisions in the Trans Pacific Partnership agreement.

TPP: what's in it for me?

"We won't suddenly see cheap cars or cheap TVs overnight," says AMP Capital chief economist Dr Shane Oliver.

Marc Moncrief   Consumers unlikely to see lower prices soon, if ever, analysts say.

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Will the TPP really benefit Australia?

Will the Trans-Pacific Partnership really benefit Australia? Illustration: Rocco Fazzari

Is the TPP just political theatre, or will Australia really gain from it? Donald Robertson and Leon Berkelmans put the case for and against.

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Malcolm Maiden

Even money on Trans-Pacific Partnership win on current form

Malcolm Maiden.

Malcolm Maiden   The TPP is a political construct more than an economic one.

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Unions fear TPP will hurt workers

ACTU President Ged Kearney believes the next election will be called before the 2016 budget.

Anna Patty   The deal has been signed in secret without explanation says the ACTU.

US won't have open slather to sue

Rally against the Trans-Pacific Partnership (TPP) in Martin Place in August.

Sarah Danckert   Top Australian lawyers have said provisions in the Trans-Pacific Partnership to shore up protections for investors will not mean companies from the US have open slather to sue the Australian government. 

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TPP largely positive for agriculture

Ian Blight, a Griffith rice farmer, says Japan is a key market for growers because of the premium paid.

Jared Lynch   Whether they grow beef, grain, sugarcane or supply milk for speciality cheeses, Australian farmers have generally welcomed the ambitious trade pact.

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San Miguel ready to spend Telstra's cash

San Miguel president Ramon Ang says Telstra is so big its investment in the Philippines will mean "nothing" to the Australian company.

David Ramli   San Miguel, the Philippine beer and food giant set to launch a mobile carrier with Telstra, has told its investors the Australian telecoms giant has plenty of cash and that any investment made "is nothing to them".

An economic analysis of the TPP? Don't hold your breath

International Monetary Fund managing director Christine Lagarde says she can't produce a comprehensive analysis of the TPP until she's seen the details.

Gareth Hutchens   The Turnbull government says the Trans-Pacific Partnership will boost growth, create jobs, raise living standards, and increase productivity for Australians. We'll have to take its word for it.

RBA holds interest rates at 2%

It is the fifth month in a row the RBA has left the cash rate on hold.

Stephen Cauchi   The Reserve Bank of Australia has kept the official interest rate on hold at its record low level of 2 per cent.

TPP: What it means for Australian business

Generic milk on a production line

David Ramli, Jared Lynch   Australian business delivers its verdict on the largest free-trade agreement in history.

Chinese arrivals boost Australia's tourist industry

The number of Chinese tourists visiting Australia rose by 16 per cent in August.

Jamie Freed   A strong rise in the number of tourists from China, Hong Kong and India contributed to 6.5 per cent growth in international arrivals to Australia in the month of August.

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Trade balance deficit widens to $3.1b

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Stephen Cauchi   Australia's trade balance has stayed in the red with a deficit of $3.1 billion in August, following a revised deficit in July of $2.8 billion.

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TPP: What you need to know

The agreements cover everything from the sale of steaks to niche intellectual property used by science and technology-based companies.

Rose Powell   What's the Trans-Pacific Partnership and what does it mean for Australia?

International tax plan praised with faint damns

Former Treasurer Joe Hockey with OECD secretary-general Angel Gurria at the G20 Finance Ministers and Central Bank Governors Meeting in Cairns in 2014 when the OECD plan to stop multinational tax evasion was discussed.

Nassim Khadem   After two years, the OECD has developed its final plan aimed at stopping multinational tax evasion. But not everyone is happy.

TPP 'failed to reach potential'

Entrenched protectionism from the US dairy industry hindered the potential for global dairy players under the TPP, says Fonterra chairman John Willson.

Jared Lynch   The world's biggest dairy exporter, Fonterra, says the Trans Pacific Partnership fails to reach its potential, blaming "protectionism" from the US.

Pacific countries agree to historic TPP trade pact

Deserves credit ... Trade Minister Andrew Robb.

Nick O'Malley   Pacific trade ministers reach a deal on the most sweeping trade liberalisation pact in a generation.