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The Latest Breaking News from David Bassanese

Corporate Australia has reported big profits as inflation has soared. Is it profiteering?

Soaring inflation has delivered major profits to big businesses this reporting season, but with consumers spending more, could corporate Australia be accused of profiteering? This is what the experts say.

ABC News

The risk of Australia entering recession has just risen

From a drop in retail sales to falling house prices, there are signs pointing towards a recession in Australia. How will the Reserve Bank respond?

ABC News

China’s economy slows sharply with GDP growth among worst on record

The economy grew 3% in 2022, exceeding some forecasts, but still well below China’s official target for the year

The Guardian - AU

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Australian coal industry says China market matters less than before, even if import ban ends

Queensland Resources Council says industry would welcome restrictions easing but new long-term customers since found elsewhere in Asia

The Guardian - AU

Dip in Australia’s inflation rate in October raises hopes price rises may have peaked

Headline CPI rate eases from 7.3% to 6.9%, lower than economists’ expectations, but fuel prices still rose as full excise rate returned

The Guardian - AU

The Aussie dollar is dropping against the US currency, but it’s not all bad news

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

ABC News

Superannuation slips in August, but overall returns are strong

Super returns slipped slightly in August as international share and money markets turned volatile but overall returns are strong.

The New Daily

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Superannuation balances fell last financial year. Here’s what you need to know

Super funds likely delivered their worst performance since the global financial crisis over the year to June 30. But their long-term returns remain healthy.

The New Daily

Economic View Of The Australian Dollar

As fears that a recession is just around the corner for the US, some economists are warning that Australia could follow suit. Some, however, remain bullish on the Australian economy due to high household savings, strong commodity exports, accommodative government stimulus and a robust pipeline of residential building constructions.

Benzinga

Chalmers does not see risk of recession

Treasurer Jim Chalmers says he is not worried about the Australian economy going into recession, but he acknowledges inflation poses a major challenge.

AAP

Sharemarkets are falling and the decline looks like it has a way to go

The Australian share market taken a dive over the past few weeks, with the ASX all ordinaries index now almost six per cent below a January 4 high.

The New Daily

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