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Title: Back-to-back budget surplus to "strong economic management" claims Caption: Next year's federal election will be dominated by the health of the economy under Labor in the face of interest rates that look like staying higher for longer and stubborn inflation. Treasurer Jim Chalmers has confirmed sa back-to-back budget surplus with last financial year's confirmed at a higher $15.8 billion. Bu...

Next year's federal election will be dominated by the health of the economy under Labor - in the face of interest rates that look like staying higher for longer .. and stubborn inflation. So it's probably not surprising that when the federal government has any good economic news to push, they'll be running hard. And that's the case this morning the Treasurer spruiking a back to back budget surplus...

As the federal government and economists debate ways to ease the housing crisis, the Reserve Bank is warning that falling interest rates could trigger a renewed real estate boom. The concerns raised in the RBA's Financial Stability Review caps a week of speculation about possible policy changes on negative gearing and capital gains tax discounts as ways to ease the housing crisis.

The prime minister Anthony Albanese is continuing to walk back speculation that his government will take changes to negative gearing and capital gains tax discounts to next year's election. Mr Albanese says he has "no plans" to tweak the tax breaks for property investors .. but the story is refusing to die as a debate over broader tax reform intensifies given the housing supply crisis. Also OECD s...

"I have no plans to do it" - PM slaps down negative gearing changes on 2GB by Peter Ryan

Prime Minister Anthony Albanese has refused to emphatically rule out changes to negative gearing and capital gains tax discounts ahead of next years election. Reports this morning that Federal Treasury is reviewing the current tax breaks have fuelled speculation that the Albanese government might revisit similar policy tweaks that contributed to Labor's election loss in 2019. Reporter: Peter Ryan,...

Changes to negative gearing and capital gains tax discounts have been downplayed by a spokeperson for Treasurer Jim Chalmers. The Age and Sydney Morning Herald report that federal officials have started work on options to scale back the tax breaks on housing investment. Also, Reserve Bank governor Michele Bullock says this morning's monthly inflation outcome will be distorted on one-offs including...

Reserve Bank governor Michele Bullock is facing a major communications challenge later today when she's widely expected to leave interest rates on hold at 4.35 percent. Ms Bullock has previously warned a interest rate cut is unlikely until next year given still-high inflation and a resilient jobs market. Also will Coles and Woolworths apologise the alleged deception on discounts or strike a settle...

Breaking news - ACCC taking Woolworths, Coles to court. Allege consumers were misled on discounts. by Peter Ryan

Supermarket giants Woolworths and Coles are being taken to court for allegedly misleading consumers about price discounts on hundreds of products. The Australian Competition & Consumer Commission claims consumers have been duped by promotions about discounts that were "illusory". The Federal Court action comes as Australians continue to hurt from then high cost of living and allegations earlier th...

Finance minister Katy Gallagher has branded pressure from The Greens to force a Reserve Bank interest rate cut as "economically irresponsible". As the Reserve Bank board prepares for a two day meeting, Greens treasury spokesman Nick McKim says Treasurer Jim Chalmers should intervene with a never-used power to force a rate cut - a move that Senator Gallagher says would undermine RBA independence. R...

This time yesterday, there was high excitement about a supersized interest rate cut in the United States. One of the big questions is whether that half a percentage point reduction would influence Australia's Reserve Bank to do the same. Unfortunately the news isn't good for anyone holding out for relief on their mortgage repayments.

The US Federal Reserve has slashed interest rates by half a percentage point amid concerns that the world's biggest economy might be headed towards a recession. Anthony Albanese has hosed down hopes for a rate cut in Australia saying the US is cutting from higher levels. Federal Reserve chairman Jerome Powell says the looming presidential election played no role in rate cut considerations. Reporte...

In a move that could influence other central banks around the world, the US Federal Reserve has cut interest rates by a larger-than-usual half a percentage point. Federal Reserve chairman Jerome Powell says the US economy remains strong, but he's flagged the likehood of more rate cuts to protect the softening US jobs market amid fears about a recession by the end of the year. Reporter: Peter Ryan,...

It seems the short-lived love affair between the Prime Minister and big business has come to an abrupt end. The Business Council has told Anthony Albanese that making profits shouldn't be "taboo" and that business shouldn't be a scapegoats for the government's current economic woes. Reporter: Peter Ryan, Senior Business Correspondent Featured: Geoff Culbert, Business Council president; Anthony Alb...

It's becoming abundantly clear that the short-lived love affair between the Prime Minister and big business has come to an abrupt end. Mr Albanese copped more than a few swipes at last night's Business Council fo Australia annual dinner in Sydney. BCA president Geoff Culbert says success and making a profit appears to be "taboo" and that business shouldn't be a scapegoat for some of Mr Albanese's...

Prime Minister Anthony Albanese is bracing for a most likely frosty reception when he catches up with top business chiefs this evening with many upset about his government's economic policies. The Business Council of Australia appears to be losing patience and is campaigning hard ahead of next year's federal election.

There'll be massive attention on the US Federal Reserve later this week and the near-certainty of an interest rate cut. The big question is whether this will be a 0.25 percent point cut, or a supersized 0.5 percent point reduction given rising fears about a recession in the US by the end of the year.

Australia's banks and telcos have welcomed proposed tough new lews to crack down on the scourge of scams. The legislation if passed will put greater pressure on banks, telcos and tech giants to shield consumers from criminal gangs that have been fleecing consumers of billions of dollars thorugh predatory texts and email messages. Reporter: Peter Ryan, Senior Business Correspondent Featured: Ilya F...

The momentum for global interest rate cuts has picked up with the European Central Bank the latest to move lower. The ECB's decision is the backdrop to a bigger excitement about rate cuts - with the US Federal Reserve almost certain to deliver long awaited rates relief next week.

After months of pressure, the chief executive of Nine Entertainment Mike Sneesby has announced he's leaving the media giant. Mr Sneesby's departure comes after major cultural issues at Nine including allegations of sexual harrassment by former staff and the controversial exit of Nine's chairman, the former federal Treasurer Peter Costello. Reporter: Peter Ryan, Senior Business Correspondent Featur...

A long-awaited interest rate cut in the United States looks almost certain after more good news on the pace inflation overnight. So could that add to the pressure for rate cuts here in Australia ? The advice is - don't get your hopes up too much.

The global oil price falls another 3 percent to under US$70 a barrel amid fears about a US recession, China slowdown and as OPEC cuts its demand outlook. Also, the Irish government has been ordered to recovered 13 billion Euros (A$21 billion) from Apple as a sweetheart tax deal unravels. The European Court of Justice has ruled Apple received unfair tax treatment back in 2016 that artificially redu...

The collapse in traditional mail deliveries is continuing with Australia Post reporting volumes in its letters business dropping to an all time low. Australia Post chief executive Paul Graham says letter volumes are back at levels last seen in the 1950s. The rapid decline in "snail mail" drove a full year loss of $88.5 million before tax for Australia Post though this is an improvement on a $200 m...

Australian business leaders are becoming increasingly frustrated with attacks from all side of politics where companies that make a profit are often accused of price gouging consumers. The anger tipped over the edge when Matt Comyn - the normally compased chief executive of the Commonwealth Bank - hit back against what he called "insidious" and "populist" policies, in particular attacks from The G...