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Import tariffs on 500 products will cut red tape for businesses and ultimately ease cost of living pressures for consumers. Unusual items currently hit with tariffs include washing machines, toothbrushes, dodgem cars, chopsticks and ballpoint pens. The cost of living relief will be outlined in the May budget and comes amid speculation about an early federal election. Reporter: Peter Ryan, Senior B...

Research by the Association of Superannuation Funds of Australia (ASFA) suggests the superannuation of one-in-seven Australian women is being eroded as they transition through menopause. The study warns that women who take time off, or even retire, as they go through menopause lose as much $60,000 from their retirement nest eggs. Reporter: ABC senior business correspondent Peter Ryan Featured: Ker...

The ASX has been hit with a million dollar fine for breaching its own transparency and integrity rules on more than eight thousand occasions. ASX is blaming a "systems error" but corporate regulator ASIC says that's not good eneough. Chair Joe Longo tells The World Today that market operators need to be held to the highest standards. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jo...

Australia's economy looks set for another year of uncertainty after posting the slowest growth figures in more than twenty years. So can a recession be avoided - and will the Reserve Bank step in with interest rate cuts sooner rather than later? Also, CBA-owned Bankwest to close all branches in WA as the banking business goes increasingly digital.

GDP for the final quarter of 2023 showed the economy expanded by just 0.2 percent making a sluggish 1.4 percent over the year. Once again, China is vital to Australia's economy, propping up growth with its seemingly insatiable demand for Australian commodities. Reporter: Peter Ryan, Senior Business Correspondent

Fears that economic growth might have gone negative in the final quarter of last year appear to have been dispelled - for now anyway. Once again, it looks as though China has come to the rescue given its seemingly insatiable demand for Australian commodities. Also - Taylor Swift pops up at the ASEAN Summit as Singapore's PM is pressed on why her only South East Asian show is in the island state.

Avenue Bank hits the market as a small niche player after receiving a unrestricted approval from the banking regulator APRA. The bank will differentiate itself by providing bank guarantees to small businesses and landlords. Also, economists fear Q4 GDP out tomorrow could turn negative after the ABS reported businesses have been running down inventory in the expectation that consumers are being cru...

ASIC shuts down 3,500 investment scam sites Caption: Corporate regulator ASIC has shut down 3,500 investment scam sites since July 2023 as part of pressure to protect unsuspecting consumers from financial harm. ASIC is now turning up the heat on the banking sector and superannuation funds to ensure customers are fully protected from criminal scammers. Reporter: Peter Ryan, Senior Business Correspo...

We'll get an update later this week on the rapidly slowing economy .. and the impact from aggressive interest rate rises to fight inflation. So how close could Australia go to falling into a recession?

The future of letter deliveries looks increasingly uncertain with Australia Post confirming continued losses in its traditional letters business. While Australia Post's half year profit is slightly higher at $33.6 million, declining letter deliveries and fewer customers visiting post offices means the agency's chief executive is facing some hard decisions. Reporter: Peter Ryan, Senior Business Cor...

The Morrison government's early release of superannuation scheme could hit future taxpayers with as much as $85 billion additional costs as people who tapped super funds are forced to rely on the aged pension. Modelling by the Super Members Council shows the Early Release of Super Scheme shows a 30-year-old who withdrew the maximum $20,000 from super during the pandemic would be would $93,600 wors...

There's cautious optimism that Reserve Bank might be forced to cut interest rates sooner rather than later given more signs that inflation is continuing to slow. It's all adding up to evidence the economy being crunched from a long period of aggressive interest rate rises. Also, KPMG chief economist Dr Brendan Rynne says leap year will add $6.6 billion to first quarter GDP.

There'll be a lot of attention later this morning when we'll get an update on inflation which continues to cause of lot of financial pain for households. Economists think the consumer price index probably fell by 0.2 percent in January due to lower travel and fuel costs But the closely-watched annual rate is likely to have risen slightly to 3.5 percent from 3.4 percent because of volatile factors...

Financial pain from high inflation and surging interest rates continues to force supermarket customers to trim household budgets to make ends meet. Supermarket giant Coles says two-thirds of shoppers surveyed last month are in distress and they worry about how to pay the rent or mortgage. The news comes as Coles posted a softer half year profit of $594 million. Reporter: Peter Ryan, Senior Busines...

With inflation slowing - but still very high - consumers are continuing to struggle with household budgets which remain under a lot of pressure. And there's not much immediate relief in sight according to the private health insurer NIB which sees yearly premium rises now part of the economic landscape. NIB boss Mark Fitzgibbon says the insurer is facing pressures from hip and knee replacement, wei...

Should your superannuation by used to bankroll the housing affordability crisis? That's the plan from four of Australia's biggest industry super funds which could see hundreds of billions of dollars provided to boost social and affordable housing. But the deal is likely to be opposed by experts who think super should be used purely for a retirement nestegg. Reporter: Peter Ryan, Senior Business Co...

Treasurer Jim Chalmers is under growing pressure to retain a never-used power to overrule policy decisions made by the independent Reserve Bank. The removal of the Treasurer's "veto" - that could even override interest rate decisions - is a key recommendation in the overhaul of the RBA which is yet to be legislated. But opponents of the veto removal say it's an "important safety valve that bolster...

Treasurer Jim Chalmers is under growing pressure to retain a never-used power to overrule policy decisions made by the independent Reserve Bank. The removal of the Treasurer's "veto" - that could even override interest rate decisions - is a key recommendation in the overhaul of the RBA which is yet to be legislated. But opponents of the veto removal say it's an "important safety valve that bolster...

Qantas posts a 13 per cent fall in first-half profit to a still bullish $869 million, but confirms the bottom line has been hurt by lower airfares and a capacity normalisation post-pandemic. New Qantas chief executive Vanessa Hudson - who replaced Alan Joyce late last year - says she's committed to restoring trust. She told the ABC's Peter Ryan she's been talking less and listening more.

First he walked out, now he's checking out. Woolworths CEO Brad Banducci announces his resignation only days after walking out of a Four Corners interview. The news comes as Woolworths revealed a half year loss of $781 million after a steep writeoff in its New Zealand grocery business.

In breaking news, Woolworth chief executive Brad Banducci has announced he's retiring and will leave the company in September. Mr Banducci has been Woolie's CEO for eight years and will be replaced by Amanda Bardwell. He's leaving in the wake of growing scrutiny over supermarket prices and practices that put him under pressure in a Four Corners interview earlier this week.

The much-anticipated sharemarket listing of Virgin Australia looks uncertain this morning after the sudden resignation of the airline's chief executive Jayne Hrdlicka. Her exit took many observers by surprise given that her role was seen as critical in resurrecting Virgin after it went to the brink of collapse at the height of the pandemic.

BHP's half year profit plunges by 86pc to US$927 million as impairments from the Samarco dam collapse in Brazil and a crisis in its WA nickel business weigh on the mining giant's bottom line. BHP chief executive Mike Henry says it could take until the end of the decade for nickel supply and demand to correct.

Bluescope Steel CEO Mark Vassella says progress is being made on decarbonisation while working with BHP and Rio Tinto on a pilot project to investigate Electric Furnace Technology. But Mr Vassella warns not to rush to "de-industrise" before there's full confidence about renewables.

Has your pay packet been feeling any heavier over the past year - but it's been eaten away by inflation? Well, we might get a positive update on Wednesday when official wages growth figures are released. Also - growing concern about the future viability of the nickel mining industry as the Federal Government steps in to prop it up given glut from Indonesia.