The Latest Breaking News from David Bassanese

Soaring inflation has delivered major profits to big businesses this reporting season, but with consumers spending more, could corporate Australia be accused of profiteering? This is what the experts say.

From a drop in retail sales to falling house prices, there are signs pointing towards a recession in Australia. How will the Reserve Bank respond?

The economy grew 3% in 2022, exceeding some forecasts, but still well below China’s official target for the year

Queensland Resources Council says industry would welcome restrictions easing but new long-term customers since found elsewhere in Asia

Headline CPI rate eases from 7.3% to 6.9%, lower than economists’ expectations, but fuel prices still rose as full excise rate returned

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

Super returns slipped slightly in August as international share and money markets turned volatile but overall returns are strong.

Super funds likely delivered their worst performance since the global financial crisis over the year to June 30. But their long-term returns remain healthy.

As fears that a recession is just around the corner for the US, some economists are warning that Australia could follow suit.  Some, however, remain bullish on the Australian economy due to high household savings, strong commodity exports, accommodative government stimulus and a robust pipeline of residential building constructions. 

Treasurer Jim Chalmers says he is not worried about the Australian economy going into recession, but he acknowledges inflation poses a major challenge.

The central bank raised the cash interest rate by 50 basis points after Tuesday’s board meeting in a bid to tame growing inflation pressures.