Business

Tax breaks for electric vehicles will be significantly curtailed in a move expected to save the budget $1.7 billion as Treasurer Jim Chalmers says large cuts across the board will help reduce demand.

Big cuts in next week’s Budget will help reduce demand in the economy as inflation runs hot again, Treasurer Jim Chalmers says as he pledges to deliver a net saving in the bottom line.

A former senior research manager with the Reserve Bank has warned home borrowers of three more rate hikes that would take mortgage rates to levels last seen in 2008.

The regulator’s enquiries are focused on trading last year by Accent boss Daniel Agostinelli, non-executive director Michael Hapgood and an unnamed senior employee.

NAB chief executive Andrew Irvine says a recession is now ‘possible’ as the fuel crisis sparks another Reserve Bank interest rate rise to combat inflation. National Australia Bank’s half-year profit plunged.

The media group says director Teresa Dyson will replace Heith Mackay-Cruise when he finishes up on June 30.

A big four bank with a strong focus on business lending says many of its clients are ready to manage cost volatility as the Middle East conflict continues.

The owner of Dan Murphy’s and BWS liquor stores is stocking up on booze as it braces for a hit of up to $8 million on higher fuel costs related to the ongoing war in the Middle East.

Traders and economists expect the central bank to raise interest rates for a third straight meeting but high uncertainty could result in another split decision.

First-home buyers have discovered their dream home just became $73,100 further away due to a surprising impact of interest rate hikes.

The future of more than 1400 workers at two Nyrstar smelters in South Australia and Tasmania are at risk after no new bailout package was worked out on the final day of deadline, with SA Premier blaming China.

As cost-crisis weary households keep value front of mind amid higher fuel prices and threats of more interest rate hikes, there’s one supermarket winning shoppers’ dollar.

THE ECONOMIST: Markets are disconnected from reality and we are heading for the biggest global oil-supply shock in history, energy experts warn.

If you’re single and feel worse off financially than your coupled-up friends, you’re not wrong.

Sales growth at Coles has failed to keep pace with its arch rival as the grocery giant warns customers that suppliers are pushing for higher prices to offset the ripple effects of the war in the Middle East.