Category: Business and Economy

Latest Independent Commentary on Business & the Economy

Australians not racist if they don’t vote for voice: PM

Australians who oppose the Indigenous voice to parliament are not racist, Anthony Albanese says. It follows Opposition Leader Peter Dutton accusing the prime minister of name calling over the voice debate. Asked if people who didn’t back the advisory body were racist, Mr Albanese responded “no” and said voters will

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Big banks lending billions to coal, oil, gas companies

Australia’s biggest four banks have been accused of pouring more than $7 billion into the expansion of fossil fuels in the past two years despite backing the Paris climate goals. Environmental group Market Forces says that in the seven years since the global Paris Agreement, ANZ, NAB, Commonwealth Bank and

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Treasury officials set to be questioned on PwC scandal

Treasury officials are set to be questioned on their knowledge of the PwC tax advice leak, as the consultancy firm stood down multiple partners involved in the scandal. Officials, including department secretary Steven Kennedy, will appear before Senate estimates on Tuesday, where questions on the tax advice scandal are set

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Women working full-time at record-high levels

More women are working full-time than ever before as the ultra-competitive labour market draws more female workers into the 38-hour week. New analysis of official labour market data found women’s total employment is up 193,400 since May 2022, with most taking on full-time rather than part-time gigs. About 4300 women have

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Biotech success starts with precinct mindset

Australia’s commercialisation woes have plagued the country for decades now.  Despite having world-leading research and tech entrepreneurs ready to bring it to the world, Australia has traditionally struggled to commercialise this research into viable products to be sold globally. This is very much on the radar

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Warning on Indigenous voice debate becoming ‘racist’

Australia’s Race Discrimination Commissioner Chin Tan has warned against creating a racially charged debate over the Indigenous voice to parliament.  The call for civility came as Prime Minister Anthony Albanese received a standing ovation after he delivered the Lowitja O’Donoghue Oration in Adelaide on Monday night. Mr Albanese took aim

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More Independent Commentary on Business & the Economy

Asian shares, US futures rise on debt ceiling deal

Asian shares and US stock futures rose on Monday, thanks to a weekend deal by US President Joe Biden and House Speaker Kevin McCarthy to suspend the government’s debt ceiling, ending a protracted stalemate and providing some relief for investors. After weeks of negotiations, congressional Republican McCarthy and Biden forged

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Australian shares rally on US deal to avoid default

The local share market has rallied this morning after Democrats and Republicans in Washington reached a deal over the weekend to avoid a cataclysmic debt default. While the US debt-ceiling deal still needs to pass Congress – which is not assured, with some conservatives and progressives both finding fault with

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Gig Guide: Productivity Commission chair to stand down

Productivity Commission chair Michael Brennan will not seek reappointment when his five-year term ends in September, with a merit-based recruitment process underway to find a replacement. Mr Brennan was appointed chair in September 2018, having previously served as Commonwealth Treasury fiscal group deputy secretary and Victorian Department of Treasury

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Insurers nudged to reward adaption to floods and fires

Insurers have been urged to slash premiums on homes that have been adapted to better withstand fire, floods and other climate change-fuelled disasters.  Assistant Treasurer Stephen Jones says the failure to reward households and communities for adapting their homes by lowering insurance premiums sends “all the wrong signals”. “If they are

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Awards 2023: Patrons Cathy Foley and David Thodey return

With the deadline for nominations and entries to the InnovationAus Awards for Excellence just one week away, we are delighted to announced that Australia’s Chief Scientist Cathy Foley and eminent business leader David Thodey have returned in 2023 to joint role of Patrons. The entry deadline for this prestigious

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Rents to income levels shoot up to near decade highs

Renters are handing over nearly one-third of their income to service a new lease as prices continue to skyrocket. The portion of income going towards rent has reached its highest level since 2014, according to new analysis by ANZ and property data firm CoreLogic. The report found the median income

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Albanese takes aim at Indigenous voice ‘doomsayers’

Australians are being underestimated by “doomsayers” promoting scare campaigns about the Indigenous voice to parliament, Anthony Albanese says. The prime minister will on Monday deliver the Lowitja O’Donoghue Oration in Adelaide, where he is expected to take aim at opponents of the voice and reiterate his confidence that the referendum

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