Economy

The high cost of houses: someone else's problem

Michael Pascoe House prices seem to be a problem for everyone except the federal government.

Economy

'Dr Doom' Nouriel Roubini’s firm warns of 20% Australian dollar slump

Dr Nouriel Roubini, co-founder and chairman of Roubini Global Economics.

Mark Mulligan The slowdown in China and a tighter federal budget will drive Australia’s growth as low as 2 per cent next year, allowing interest rate cuts and a 20 per cent devaluation in the Australian...

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Telcos

ACCC should be stripped of Telstra pricing control, says report

The ACCC is currently running a large-scale review of Telstra's fixed line services, which could impact the price of phone, mobile and internet services across all carriers in Australia.

David Ramli The competition regulator should be stripped of its control over the pricing and access terms of Telstra’s wholesale phone and internet services, according to the draft report of the Harper...

Agri

Chinese demand underpins record growth in agriculture jobs

Job numbers in agriculture are growing strongly, thanks to Chinese demand.

Stephen Cauchi Jobs in agriculture have posted the biggest annual gain on record, according to an Commsec analysis of Australian Bureau of Statistics employment data.

Economy

End of China boom is hurting, but not all is lost

China US

Jared Lynch A slowing Chinese economy is eroding key commodity prices, but all is not what it seems according to Citi.

Economy

Luck running out: Peter Costello warns of hard days ahead as property market slows

Former federal treasurer Peter Costello.

Rose Powell Peter Costello has warned of widespread hardship when the property sector's rapid growth inevitably slows in an economy already manned by nervous consumers whose real wages are falling.

Eco

Australia's economy set to remain 'weak: Westpac-MI index

Patrick Commins Australia’s economy is likely to remain “weak” for the balance of this year and into the next, as sliding commodity prices offset better news among consumers and in the housing...

Eco

Wait continues for social benefit bonds decision

UnitingCare’s Newpin $7 million social benefit bond, the first in the NSW trial, recently passed its first 12-month hurdle delivering a return of 7.5 per cent for the year to investors.

Sally Rose Despite making all the right noises about supporting social bonds, the NSW government is yet to announce any further details about expanding its trial, leaving many in the non-profit and investment...

Eco

Sydney house prices to cool in 2015: ANZ

Mark Mulligan House price growth in Sydney will begin to cool next year as supply catches up with demand and the Reserve Bank of Australia starts looking at interest rate increases, according to the senior...

Economy

RBA awake to property bubble risk

RBA governor Glenn Stevens.

Michael Heath The Reserve Bank of Australia said it will monitor risks from rising property prices as policy makers reiterated a period of stability in record-low interest rates.

Risk, confidence key for economic pick-up, says RBA assistant governor Christopher Kent

Stephen Cauchi Non-mining business investment has been ''subdued'' but is looking up, Reserve Bank Assistant Governor Christopher Kent✓ told the Bloomberg Economic Summit in Sydney on Tuesday.

Eco

Joe Hockey denies Australia in a property bubble

Hockey

Mark Mulligan Federal Treasurer Joe Hockey has again dismissed the idea that a property bubble is forming in Australia, saying that rising prices were just a reaction to lack of supply.

Eco

RBA needs to address Australia's property bubble: UBS

Monopoly house

Bianca Hartge-Hazelman UBS global chief economist Larry Hatheway has warned that unless the Australian dollar falls below US85c in the near future, the Reserve Bank may have little choice but to use other tools besides...

Currencies

Floodgates tested as global factors push Australian dollar below US90c

Global factors are likely to keep the Australian dollar under pressure.

Mark Mulligan The Australian dollar broke below US90¢ for the first time in six months on Monday afternoon, as global factors kept the currency under pressure.

Eco

Australia's house prices second-highest in world: BIS

According to the BIS's latest quarterly review of global housing, Australia was the second most expensive market.

Mark Mulligan Australian house prices are among the world's most expensive when measured against incomes and rents, according to the Bank for International Settlements (BIS).

Employment

Workers can forget about big pay rises for some time to come

Clancy Yeates dinkus Dinkus

Clancy Yeates When it comes to pay rises, it is a sorry state of affairs confronting many wage-earners at the moment.

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Eco

Australia's high house prices not a 'crisis', says RBA

Booming: The median Australian house price has soared almost 11 per cent in the past year.

The Reserve Bank says there is no cause for panic as Australia's house prices reach dizzying heights.

Economy

Unemployment drops to 6.1 per cent

The figures, which were better than expectations, follow a surprise spike in July to 6.4 per cent from 6 per cent in July.

Mark Mulligan and Misa Han Australia's unemployment rate dropped to 6.1 per cent in August, after the labour market added a net 121,000 jobs.

Tech

TPG gets green light to connect fibre to basement in apartments

NBN Co. has argued that TPG’s plan to connect homes and businesses with fibre to the basement internet services could hurt its business case.

David Ramli TPG Telecom will be allowed by the competition regulator to keep connecting urban apartments to its high speed broadband network despite NBN Co’s claim it could lead to its business case...

Slight improvement expected in jobs data

Concerns about jobs are weighing on consumers' spending decisions and long-term outlook, according to the latest Westpac-Melbourne Institute consumer sentiment index.

Mark Mulligan Australia's unemployment rate is widely expected to have eased slightly in August after a surprise spike to 6.