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?

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'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.

Booming Sydney carries struggling national economy

Lead role: Sydney is driving the national economy.

Matt Wade The economy of greater Sydney expanded 4.3 per cent in 2013-14 – its fastest growth rate in 14 years.

Dr Martin Parkinson slams big business for calling for cut to the corporate tax rate

Dr Martin Parkinson

Gareth Hutchens Australians need to start talking more about the trade-offs we have to make to achieve important economic objectives, Dr Parkinson says.

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Economy

No early Christmas petrol cheer for motorists despite oil price plunge

Paying at the pumps: The government says money raised from the fuel tax will all be spent on roads.

Lucy Cormack If Australian motorist think headlines about plunging oil prices will mean a merry Christmas at the petrol pump, they might need to think again.

Michael Pascoe

Foreigners, sausages and the Great Australian Dream

An unfinished house construction site building
blue sky dark clouds
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Michael Pascoe After all the hearings and submissions, the House of Representatives Economics Committee Report on Foreign Investment in Residential Real Estate boils down to this sentence on page 86:

Housing

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

Record-low interest rates have led to a marked pick-up in home prices over this year, while approvals to build new homes have been trending higher.

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...