Business
Australian house prices have fallen for a sixth straight month, with experts warning of potential falls of up to 15 per cent in the coming months. The declines are attributed to higher interest rates and cuts to housing tax breaks.
Electric vehicle sales in Australia have more than doubled in the past year, with one in four new cars sold now being electric. The milestone comes as the industry pushes for greater support to help the country meet its climate targets.
Veteran finance presenter Alan Kohler is retiring after a 31-year career, citing a desire to spend more time with his family. Kohler has been a leading figure in Australian journalism, with a successful career in print and television.
A union says 137 workers at the Bendigo and Adelaide Bank are slated for redundancy as part of an ongoing company restructure. The bank's Adelaide staff are expected to be impacted more than other city and regional workforces.
A 24-hour strike by up to 650 Qantas ground staff next week is now considered likely, according to the Transport Workers Union. The industrial action may cause disruptions for travelers to selected regional areas during the upcoming school holidays.
Exotic fruits from Far North Queensland are gaining popularity in capital cities as demand for tropical flavours surges. The unusual produce, including jackfruit, rambutan and mangosteens, is becoming increasingly sought after through social media, word of mouth, and cultural demand.
Victoria's power grid is under strain as data centres drive surging demand for renewable energy. The state's largest wind farm is set to almost double its capacity, but a significant portion of its output will be consumed by just two data centres.
Brisbane remains the most profitable capital city for property sellers in Australia, with a median profit of $525,000. However, national resale profits have declined, with 20.8 per cent of Melbourne units sold at a loss.
Australia has suspended imports of fresh pomelo fruit from Vietnam due to biosecurity concerns. The six-month suspension comes after the identification of exotic pest and disease symptoms on some imported consignments.
Australia's $650 million apple industry is facing a potential economic and biosecurity crisis as the US prepares to export its apples to the Australian market. Industry leaders are urging the government to take action to protect local growers and prevent the introduction of diseases such as fire blight.
Australia's second-largest private hospital operator, Healthscope, is set to be split up among a consortium of four hospital operators following its financial collapse last year. The deal, announced by the company's receivers, will see 25 hospitals and Healthscope's centralised service platform divided among Calvary Health Care, Healthe Care, ACURIO Health, and KnG Group.
A Sunshine Coast-based caravan manufacturer, Australian Off Road, has ceased operations, leaving hundreds of customers, staff, and suppliers in limbo. Customers are worried about their warranties and servicing, and new customers who paid deposits are unsure if they will ever get their vans or money back.
Australian Grand Prix organisers have failed to overturn a $2.84 million compensation order to a music promoter over a COVID-era Robbie Williams concert cancellation. The concert was due to go ahead as part of the 2020 F1 Grand Prix in Melbourne but was cancelled due to COVID on the eve of the event.
Farmers face worker shortages as government pauses working holiday visa applications
Grain farmers in rural areas are facing a surge in diesel prices as the harvest season approaches, putting pressure on their bottom lines. The rising costs are expected to have a ripple effect on the industry, with trucking business owners warning that higher fuel prices will eventually be passed on to consumers.
A new generation of bigger and more power-hungry AI data centres is set to escape looming federal government restrictions on energy and water use. The proposed rules, aimed at addressing community concerns about the environmental impact of these developments, are not expected to be retrospective.
High-end homes in Sydney and Melbourne are experiencing a significant downturn in value, with drops of over 10 per cent from peak levels. The housing market decline is now affecting a broader range of markets, including Brisbane, Adelaide, and Perth.
A major cyber security incident targeting Alliance Distribution Services has halted book deliveries, leaving local independent bookstores and prominent Australian authors in a difficult position ahead of the busy Christmas trading period.
The sale of the historic 170-year-old Cobungra Station to a carbon asset manager has sparked intense debate over the future of traditional farming. While the buyers plan to combine livestock with carbon capture, critics warn the deal sets a worrying precedent for agricultural land use.
Victorian poultry owners with 50 or more birds in designated regions are being forced to house their animals as H5N1 bird flu cases continue to climb. The state is the first in Australia to enforce such a lockdown on its poultry industry.
A deep dive into social media monetization has revealed Meta is funneling money to controversial Australian figures, including white nationalists and anti-vaccine activists. Despite strict corporate guidelines, these accounts are successfully turning online outrage into a steady revenue stream.
Rising fuel costs are forcing regional Victorian taxi drivers to work maximum legal hours just to cover basic living expenses. While drivers face immense pressure, fuel distributors assure that supply levels remain stable despite localized panic buying.
Consumer watchdogs are granting egg producers leniency on free-range labeling rules as farmers lock up flocks to prevent H5 bird flu outbreaks. However, local egg producers are calling for clearer shelf signs and temporary stickers to maintain shopper trust.
Many Australians are calling for their multi-trillion-dollar superannuation savings to fuel the nation's renewable energy transition. However, current investment frameworks and market complexities pose significant challenges that are now under government review.
From remote Queensland hamlets to bustling city centres, Australia's small and medium-sized businesses are grappling with a perfect storm of economic pressures. Rising fuel costs, escalating interest rates, and tightening credit are pushing many to their limits, forcing difficult decisions and dampening future growth.
A co-founder of a globally renowned Australian video technology company claims he has been unfairly barred from selling his multi-million dollar stake. The dispute, spanning a decade of alleged hostility, pits founding partners against each other in a battle over corporate control and financial transparency.
Chinese electric vehicles are rapidly transforming the Australian auto market, with a massive influx challenging traditional global car giants. Consumers are increasingly drawn to affordable, tech-rich EVs, driven by both environmental concerns and soaring fuel costs.
A proposed $200 million timber manufacturing hub in Portland aims to revolutionize the Australian construction industry by producing local, high-strength timber from blue gum. This major investment is expected to create jobs, reduce reliance on imports, and address Australia's growing demand for building materials.
Australian beef exporters are grappling with a significant 55% tariff imposed by China, leading to a halt in direct shipments. However, China's extensive strategic reserves and existing frozen beef inventories are preventing immediate price hikes, forcing Australian producers to seek new international markets.
As Australia's spirits industry experiences rapid growth, local distilleries are sounding the alarm over a critical shortage of master coopers. Industry leaders are calling for the ancient art of barrel-making to be officially recognized as a trade to prevent the skill from disappearing.
A major US trade body has launched an investigation into lamb imports, predominantly from Australia, raising concerns about potential new tariffs. The Australian meat industry is preparing a robust defence, highlighting the mutual benefits of the long-standing trade relationship.
A recent decision by a national industrial relations tribunal has affirmed the dismissal of a truck driver whose error led to the spoilage of over $100,000 worth of ice cream. The driver had challenged his termination, but the tribunal found his failures in temperature management justified the company's action.
More than 1,200 BYD customers who received wrong-year electric and hybrid vehicles will now be offered a full refund by the company. This comes after widespread consumer frustration and calls for regulatory investigation into the initial compensation offer.
Major musical productions across Australia are facing unprecedented cancellations, caught between soaring operational costs and dwindling consumer spending. Industry leaders are urging government intervention, proposing a tax offset to safeguard the future of live entertainment.
With natural snowfall declining, ski resorts are increasingly relying on advanced snow-making technology to protect their winter seasons. Industry leaders view these systems as a critical insurance policy against warming climates.
Australian property auction clearance rates remain below 50%, signaling a persistent market downturn. Experts point to a mismatch in buyer-seller expectations and a combination of economic factors as key drivers.