ASX closes on record high, US Fed signals upcoming rate cut — as it happened
Australia's share market closed on a fresh record high after encouraging inflation data on Wednesday reduced the chances of a rate cut next week, while the Federal Reserve left US interest rates unchanged. Look back on the day's market news.
Rex chose to gamble during the pandemic. It will take weeks to know how much its lost
Rex's risky gamble to compete with major airlines on intercity routes may see it back where it started, albeit with greater financial problems.
350 Rex Airlines employees stood down immediately as administrators warn staff are unlikely to be paid for 'months'
Administrators overseeing Rex Airlines have told hundreds of employees they are unlikely to receive their wages or redundancy payouts for "months", and expect the domestic aviation business will cease operating by the end of the day.
What July's house price data tells us about where values are headed
Australian house prices rise 0.5 per cent in July, despite Melbourne, Hobart and Darwin recording a fall in values during the past three months, according to new data released by CoreLogic.
Inflation up but RBA's 'core' target fell, delivering 'good news' on future rate rise
Australia's annual rate of inflation lifted to 3.8 per cent in the June quarter, up from 3.6 per cent.
Analysis by David Speers
analysis:The new inflation figures brought relief for Albanese, but another set of numbers were depressing reading
According to the Productivity Commission, five of 19 Closing the Gap targets are currently "on track". That's where the good news ends.
After losing a $1.6 million inheritance, Harriet Spring says banks need to do more to protect customers from fraud
After a scammer took $1.6 million of her mother's money, Harriet Spring is calling for banks to do more to support victims like herself.
Elon Musk's use of data from X to train AI may breach Australian privacy law, regulator says
Australia's privacy watchdog says there's "cause for concern" over X's harvesting of the user data of its Australian users to train a new generation of AI chatbots.
How to break the pattern of micromanagement in the workplace
Constantly second guessing the decisions you make in the workplace? There's a chance that a certain management style might be the culprit.
'I followed the rules but I lost my job': Migrant worker welcomes new visa that lets people like her stay in Australia
A new visa that was quietly introduced last week is already giving hope to migrant workers who are battling for justice against exploitation, a leading legal advocate says.
Features
Analysis by Ian Verrender
analysis:Why the RBA should hold off on rate hikes
Latest business news
Billson's administrators 'optimistic' buyer can be found for historic brewery
Thirty redundancies were announced at the Victorian brewery on Wednesday with 50 staff remaining employed to continue trading while the administrators restructure the company.
300 jobs to be lost as US lithium giant makes further cuts at WA plant
Hundreds of workers are expected to lose their jobs at Albemarle's Kemerton lithium plant as the miner responds to further volatility in the global market.
Thai citizens invited to sign up for controversial $21 billion cash handout plan
About 50 million Thais are set to get a "digital wallet" containing 10,000 baht ($420) as part of a $21 billion cash handout scheme that has been criticised as costly, unsustainable and detrimental to Thailand's already struggling economy.
Return of beloved local iceblock soured by fact it's now made overseas
A fruit iceblock once made in the Victorian town of Mildura from local oranges is back on shelves, but the manufacturer's decision to make the product in Argentina has left devotees of the sweet treat feeling "let down".
Fair Work set to apply for CFMEU administrators as crossbenchers tell federal government to go further
The application could reach the Federal Court as early as this afternoon.
Business Analysis
Analysis by Ian Verrender
analysis:While all eyes are on Washington, Beijing is quietly heading into economic oblivion
Australia has done exceptionally well riding the boom in the Chinese economy. But the political and economic uncertainty surrounding the world's two biggest economies — the US and China — points to tougher times ahead.
Analysis by Ian Verrender
analysis:Why Andrew Forrest stepped back on green hydrogen
Green hydrogen might be more efficient than petrol but it doesn't rate against a battery-driven vehicle, and funding it is proving to be difficult with iron ore prices falling.
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The Finance Report with Alan Kohler
A look back at the day's movement on the markets.
The Business
Stay up to date with the latest business, markets and economic news and insights as Australia and the world navigate turbulent financial times. Presented by Kirsten Aiken and Alicia Barry.
Close of Business
With a cost-of-living crisis, inflation and higher interest rates plus global economic headwinds, Rachel Pupazzoni looks at the week in business and finance.
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