Business

The conflict in Iran has helped push US inflation to its highest pace in three years.

Iran war pushes US inflation to highest pace in three years

America’s inflation level hit 4 per cent for the first time in three years in May, driven by surging gas prices from the Iran war.

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Many traders on Wall Street expect the Fed will need to hike interest rates to curb inflation. (AP PHOTO)

Iran war pushes US inflation to highest pace in three years

America’s inflation level hit 4 per cent for the first time in three years in May, driven by surging gas prices from the Iran war.

Updated
Read more (3 min) →
High inflation would stop the Reserve Bank slashing interest rates.

Fears Reserve Bank won’t be able to cut rates in recession

The Reserve Bank is expected to leave rates on hold next week but there are fears inflation is so high it won’t be able to cut rates even if Australia fell into a recession.

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AGL chief executive Damien Nicks on Wednesday.

Huge data centre energy appetite threatens to push up prices

Voracious power demand from data centres could drive prices higher if they don’t actively support investment in new generation, the boss of energy giant AGL warns.

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Kmart is moving cash registers back to the store entrances.

Kmart backflips on controversial checkout move

Kmart Group is refurbishing two dozen more stores to a new format, and opening a new concept store for home goods near an Australian capital city.

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Bunnings is preparing to take on Super Retail Group's BCF as it shifts further into the lifestyle retail space.

The BCFing cheek! Bunnings goes camping to take on big rival

Bunnings boss Mike Schneider wants to push into the camping space, threatening the dominance of incumbent BCF, as the hardware giant eyes a market worth over $113 billion.

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The High Court has ruled in favour of Melbourne accountant Steven Bendel in a closely watched tax case.

High Court ruling delivers major tax win for family trusts

A landmark High Court ruling has handed family trusts and private businesses a major win over the ATO.

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Wesfarmers chief executive Rob Scott.

Wesfarmers boss’ grim warning on controversial tax changes

Rob Scott said Australia’s ‘less hospitable tax settings’ could force companies investing in the nation’s resources and oil and gas sectors offshore.

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Wall Street’s infatuation with Elon Musk is giving the ick.
Australians are facing some of the bleakest consumer sentiment in decades, leaving households increasingly pessimistic about what comes next.

Ailing economy gives Aussies little to smile about

EDITORIAL: Australians are facing some of the bleakest consumer sentiment in decades, leaving households increasingly pessimistic about what comes next.

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The AI giant has filed for its own IPO.

OpenAI files to go public as AI companies rush to Wall St

OpenAI has moved closer to a stock market debut, potentially unlocking billions in wealth and extending the AI gold rush.

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Open AI CEO Sam Altman

ChatGPT is worth $1.2 trillion but will it change the world?

AARON PATRICK: The leading artificial intelligence companies are racing to crystallise billions in value for investors by promising to change the world. Is the hype credible?

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Consumer confidence has slipped to a near-historic low. (James Worsfold/AAP PHOTOS)

Budget, rates push consumer confidence to near historic low

Australian consumer confidence has slipped into ‘deeply pessimistic’ territory as households battle with persistent cost-of-living pressures, while expectations for the housing market also cooled.

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Miners led the retreat on the ASX, with the sector down 4 per cent after the first 30 minutes.

Miners lead retreat as ASX200 nosedives to three-week low

The Australian share market has tumbled in early trade as nervous investors, returning from a Monday public holiday on the east coast, wait on further signs of any flare-up in tensions across the Middle East.

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