Business

THE NEW YORK TIMES: Excess steel production is estimated to reach 721 million tons by 2027. One answer to overproduction is to simply make less steel, but no country wants to be the one to stop.

Fortescue has agreed to pay back taxpayer funds that were poured into a nixed green hydrogen project “where required”, following pressure from the Albanese Government. 

THE ECONOMIST: If Silicon Valley’s financial predictions are even close to being accurate, expect unprecedented economic upheaval from the rise of Artificial Intelligence.

Billionaire Elon Musk’s Tesla missed on the top and bottom lines in the second quarter, but another miss was buried in its investor deck.

Elon Musk’s SpaceX says it is working to find a fix for a network outage of its Starlink satellite internet service.

THE NEW YORK TIMES: The new trade agreement between Japan and the Trump administration could give cars made in that country an advantage over vehicles that come from Canada and Mexico.

Getting productivity on track would make Australian workers $14,000 better off in a decade, but top economists warn ‘poor decisions’ by governments are holding the country back.

Nationals leader David Littleproud has accused Anthony Albanese of ‘trading away’ Australia’s US beef import ban to appease President Donald Trump amid his tariffs regime.

Australia has given America access to beef market on the eve of Donald Trump’s tariff deadline, sparking fears the $75 billion Aussie industry has been sacrificed for the US trade war.

He dated models, drove a Maserati and lived in one of Australia’s most expensive suburbs, but this entrepreneur’s business could not sustain the huge debts he took on.

A community group has successfully challenged the 22-year expansion of an open-cut coal mine, arguing the local effects of climate change should be considered.

Shares in Autobarn owner Bapcor have shed nearly 30 per cent after revealing its second-half trading performance was weaker than expected in May and June, as well as the sudden exit of three board directors.

Michele Bullock has knocked back jitters about last month’s unemployment rise amid pressure on her Reserve Bank to drop interest rates.

New rules from NAB and Labor’s 20 per cent HELP debt cut are set to ease the financial strain for millions of Australians chasing the dream of homeownership.

THE ECONOMIST: The present moment holds the potential of something far more disruptive for mainstream markets than earlier crypto speculation suggested.