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Australia's Future Fund - a public wealth fund set up nearly 20 years ago by the federal government -is getting a big shakeup. It's board has been given a new directive to focus on the Albanese government's priority projects of housing, renewable energy and infrastructure. But what are the risks that politics could erode the Fund's independence? Peter Ryan explains.

Australian businesses are failing at the fastest rate since the pandemic as painfully high interest rates take their toll, according to the credit reference agency CreditorWatch. The insolvencies are being exacerbated as the Australian Taxation Office attempts to recover $35 billion in outstanding debt, with the 29,000 businesses owing an average $100,000. Reporter: Peter Ryan, Senior Business Cor...

The Business Council of Australia is warning that Australia's living standards will plunge in the years ahead unless the federal government tackles stalled productivity. And Woolworths is grilled at the ACCC’s supermarket inquiry about whether it uses “land banking” to stymie competition.

National Australia Bank is being sued for allegedly failing to help 345 customers in financial distress. Corporate regulator ASIC claims the bank didn't respond to hardship applications before a 21 day deadline. ASIC chairman Joe Longo speaks with ABC's Peter Ryan. Reporter: Peter Ryan, Senior Business Correspondent Featured: Joe Longo, ASIC chairman Keywords:

The head of the industry superannuation giant CBUS has apologised for delayed payouts for around 10,000 customers making death and disability claims. Chief executive Kristian Fok made a last minute appearance before a senate committee which is putting Australia's $3.9 trillion superannuation system under the microscope. Reporter: Peter Ryan, Senior Business Correspondent Featured: Kristian Fok, CB...

Optus chief executive Stephen Rue has promised to weed out and sack staff who fail to meet the telco's ethical and legal standards. Mr Rue inherits a reputational crisis after Optus sales staff in Darwin and Mount Isa were accused of exploiting indigenous Australians and people with disabilities .. selling them mobile gear they didn't want, didn't need and couldn't afford. Reporter: Peter Ryan, Se...

Industry superannuation giant CBUS is in hot water with the corporate regulator ASIC over its alleged mishandling of insurance claims to grieving families and people with disabilities. Meanwhile, NSW Liberal senator Andrew Bragg is ramping up pressure for CBUS chairman Wayne Swan – a former Labor treasurer – to front the Senate Economics Committee.

Teenage workers excluded from superannuation because they work less than 30 hours a week is discriminatory, according to the Super Members Council. Chief executive Misha Schubert wants to overturn a historical quirk in super rules could add $10,000 to a retirement nest egg. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jessica Dawson, teenage worker; Misha Schubert, chief executive...

Teenage workers excluded from superannuation because they work less than 30 hours a week is discriminatory, according to the Super Members Council. Chief executive Misha Schubert wants to overturn a historical quirk in super rules which could add $10,000 to a retirement nest egg. Employer groups worry the super to under-18s could be an additional impost for businesses. Reporter: Peter Ryan, Senior...

Australia's economy won't avoid Trump tariffs hit. Treasurer Jim Chalmers warns of a temporary impact on economic output and potentially higher inflation. But Dr Chalmers says he's ready to work with the incoming Trump administration.

Federal chair Jerome Powell to Donald Trump - "I'm won't quit" by Peter Ryan

US Federal Reserve chairman Jerome Powell says he won't quit and that Donald Trump has no power to sack him. Mr Powell was standing firm against interference from the incoming president after cutting US interest rates by 0.25 percentage points. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerome Powell, chairman US Federal Reserve Keywords:

Title: US Federal Reserve chair says Donald Trump has no power to sack him Caption: US Federal Reserve chairman Jerome Powell says he won't quit and that Donald Trump has no power to sack him. Mr Powell was standing firm against interference from the incoming president after cutting US interest rates by 0.25 percentage points. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerome Po...

Title: US Federal Reserve chair says Donald Trump has no power to sack him Caption: US Federal Reserve chairman Jerome Powell says he won't quit and that Donald Trump has no power to sack him. Mr Powell was standing firm against interference from the incoming president after cutting US interest rates by 0.25 percentage points. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerome Po...

Wall Street rockets on decisive Trump victory - but jitters about US China trade war by Peter Ryan

National Australia Bank chief executive Andrew Irvine speaks with ABC senior business correspondent Peter Ryan about Donald Trump's decisive victory. Mr Irvine says while the outcome provides certainty, he's cautious about Mr Trump's plans to ramp up tariffs on goods brought into the US - warning Australia would be hurt by a global trade war with China. Mr Irvine was speaking after the NAB reveale...

With the Albanese government in unofficial election mode, the Reserve Bank governor Michele Bullock urged against any cash slurge to entice voters. The warning was directed at Treasurer Jim Chalmers after the RBA board decided - as expected - to leave interest rates on hold .. unprepared to declare victory in the fight against inflation. Reporter: Peter Ryan, Senior Business Correspondent Featured...

It's a nailbiting week for the direction of the global economy, with the US presidential election expected to go down to the wire. ABC’s Peter Ryan looks at the potential fallout here in Australia.

As you consider making ends meet during a cost of living crisis .. there's news that more than 1200 big companies paid no tax in the last financial year. Naturally this will probably leave a bit of a sour taste for many listeners .. but there are good reasons according to the Australian Taxation Office.

Telecommunications giant Optus has been accused of exploiting vulnerable Australians - including First Nations people and people with disabilities - for allegedly selling them goods and services they didn't want or need. The explosive allegations relate to hundreds of Optus customers including some who were pursued by debt collectors in what the ACCC has described as inappropriate and fraudulent s...

February rate cut on horizon after inflation fall as Woolworths confirms price deflation by Peter Ryan

The outlook for slowing inflation in today's quarterly CPI update is unlikely to pave the way for an early interest rate cut. Economist Warren Hogan says the Reserve Bank will be focusing on underlying inflation which strips out one-offs like energy rebates and a six percent fall in petrol prices. Mr Hogan says there's a risk the RBA might be force to raise interest rates again if inflation remain...

In a move that could represent a big challenge to Qantas' domination of the skies in this country, Qatar Airways is seeking to buy a 25 per cent stake in Virgin Australia. But the deal will need approval from the Foreign Investment Review Board and the competition watchdog the ACCC. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jayne Hrdlicka, Virgin Australia CEO; Jim Chalmers, Tr...

To rising tensions in the Middle East and how the risks of a wider conflict are rattling financial markets... The global price of oil - which was already creeping higher - has surged after Iran launched a barrage of missiles at Israel earlier this morning.

In a move that could represent a big challenge to Qantas' domination of the skies in this country, Qatar Airways is seeking to buy a 25% stake in Virgin Australia. But the deal will need approval from the Foreign Investment Review Board and the competition watchdog the ACCC.