ABC Business Daily

Australian tech darling and design giant Canva has announced major job cuts.

Is this the story of big business becoming the victim of global AI expansion - or is there something else going on?

And the country has reacted to another interest rate rise from the Reserve Bank.

Yesterday borrowers learned their fate - "feeling poorer" for longer, and inflation staying up. 

So the morning after the night before, what do we need to understand about the future of the Australian economy in the eyes of the RBA?

Lin L...

The Reserve Bank of Australia has met, and voted, to raise interest rates by 25 basis points from 4.60% to 4.85%.

It's the fifth rise this year.

It’ll be unwelcome news for those already struggling with the cost of living around the country - but is the pain necessary to get inflation back under control?

And the next question now - is a sixth rate increase potentially on the horizon?

Carrington Clarke and ABC Money Correspondent Jessica Irvine break it all down on ABC Business Daily.

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Australia’s housing downturn is getting faster.

Home values have now fallen for seven straight months, with capital city prices declining at the fastest pace of any housing downturn in four decades.

But falling prices don’t automatically mean housing is becoming more affordable - borrowing capacity is shrinking, rents are still rising, and the equity picture looks very different depending on where and when you bought.

And hanging over all of today's data from Cotality - tomorrow’s RBA decision, with markets betting another rate hike is an almost certainty.

Carrin...

Snowy Hydro was meant to be one of Australia's biggest renewable energy projects.

But the ambitious scheme has been hit by massive cost blowouts and delays, raising serious questions about how much taxpayers will ultimately have to pay.

So what’s gone wrong with Snowy 2.0, and is the project still worth the price tag?

Energy expert Bruce Mountain joins Carrington Clarke to unpack the spiralling costs, the engineering challenges and what the troubled project tells us about Australia's energy transition on ABC Business Daily.

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Around the world central bankers are grappling with how to deal with unwantedly high inflation. 

In recent days we’ve seen interest rate decisions in New Zealand, Canada and the US. 

So what can we learn from their decisions and deliberations - and in whose footsteps will the RBA follow next week?

Carrington Clarke and ABC News Business Editor Michael Janda break it all down on ABC Business Daily.

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We'd love to hear your questions! If there’s business and economic news that has you st...

Inflation is still stubbornly high - and moreover accelerated in September - according to the latest figures from the Australian Bureau of Statistics. 

So what’s costing Australian households the most?

And with inflation well above the Reserve Bank’s comfort level, is a rate hike all but certain on Melbourne Cup Day?

Lin Lin and Diana Mousina, Deputy Chief Economist at AMP break it all down on ABC Business Daily.

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We'd love to hear your questions! If there’s business and economic news that ha...

It’s official: Anthropic has filed to go public. 

This means the AI giant may soon take its place as one of the most valuable companies on earth and become available for investors to trade. 

But after the Nasdaq’s worst fortnight since April, what risks still lap at the edges of this IPO excitement?

Carrington Clarke and ABC's Chief Business Correspondent Ian Verrender break it all down on ABC Business Daily.

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We'd love to hear your questions! If there’s business and economic news tha...

The price of Brent Crude has spiked again, with prices climbing close to the highest levels seen since the start of the war as hostilities across the Middle East escalate.

How is the Australian economy bearing these overseas shocks, as inflation continues to stubbornly sit at a rate higher than the RBA would like?

And just what does it mean for the chances of a rate hike next week?

We also answer a listener question.

Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily.<...

Violence is erupting on France's streets as economic pressures bite. Does the unrest signal a financial crisis is on the way? Plus, the US Federal Reserve meets next week and banks around the world - including the RBA - will be watching closely. 

Citigroup Global Chief Economist Nathan Sheets is a former Federal Reserve economist who also served at the US Treasury. ABC Business Daily's Carrington Clarke sat down with Dr Sheets at the Citi Investment Conference to unpack the outlook for France, the possibility of a global debt disasters, and what the Fed's decision could mean fo...

From plummeting property prices across capital cities to the very live possibility of a RBA rate hike early next month, there’s lots of economic changes for Australia’s financial institutions to digest.

So are Australia’s banks ready to weather what lies ahead?

And on the heels of National Australia Bank announcing a major restructure earlier this week, what does the future hold for Australia’s banking sector?

Carrington Clarke and Brian Johnson, Senior Banks Analyst at MST Financial break it all down on ABC Business Daily.

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It’s a tale of a two-speed economy.

China's economy surprised analysts on the upside in the September quarter - but the headline growth figure masks a widening divide.

Industrial activity is powering ahead, while retail spending remains far more subdued - raising fresh questions about the strength of China’s consumer economy.

So why are Chinese households still reluctant to spend?

And as factories keep producing at pace, is China increasingly exporting its economic pressures to the rest of the world?

Lin Lin is joined by Dan Wang, Chin...

After a weekend of the worst civil unrest in decades in France, markets are nervously waiting to see what the political response will be - but where there's political ramifications, economic ones are also sure to follow.

So is France the most precariously balanced domino on the global economic board right now?

Meanwhile back home, one of the country’s biggest and most powerful companies – National Australia Bank – is cutting about six per cent of its workforce. It’s a move set to cause anguish for many of those directly impacted by cuts. But does it also t...

The price of Brent Crude has taken another leg up, flirting with 110 US dollars a barrel over the weekend and pulling even greater focus onto how high energy costs are affecting the global economy.

Meanwhile, Australia’s increasingly expensive public debt is putting pressure on government budgets. So is now the time for major tax reform?

And would any major party be willing to test the idea of increasing the GST?

Carrington Clarke and ABC News Business Editor Michael Janda break it all down on ABC Business Daily.

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Global markets are shifting, debt is getting more expensive, and the AI investment boom is showing signs of risk. So what's the big picture and where could the next crisis emerge?

Macro strategist Gerard Minack joins us to unpack the forces shaping the global economy, from rising bond yields and the growing threat of a sovereign debt crisis to whether the billions pouring into AI will ever deliver the returns investors are banking on.

Plus, we turn to Australia's housing market, where higher interest rates, changes to investment incentives and slowing population growth could create...

Fresh jobs figures from the ABS show worsening unemployment here in Australia. Meanwhile inflation is hotter than expected in the United States.

So will these new numbers stay the Reserve Bank’s hand from hiking interest rates on Melbourne Cup Day?

And what do minutes from the RBA’s last board meeting reveal about what the central bank thinks are the biggest risks right now?

Carrington Clarke and ABC News Business Editor Michael Janda break it all down on ABC Business Daily.

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Despite rich resources and recent advancements in technology, why does Danielle Wood think the economy is still struggling to be more productive?  

The Productivity Commission Chair joins ABC Business Daily to weigh in on Australia’s productivity problem - workforce participation, population growth, the care economy, and AI’s role in stimulating growth. 

So, are we set on a path of stagnation where decent pay rises cause prices to rise? 

Or can we turn this ship around?

Carrington Clarke and Danielle Wood, Chair of the Australian Productivity Comission, break it all down on...

The cost of the Firmus fiasco continues to be counted, with Maas Group paying a heavy price for its connection to the Australian AI startup. 

So, how much wider is the pain likely to be felt across the economy?

And where to now, for the biggest trade in global AI markets?

Carrington Clarke and ABC Chief Business Correspondent Ian Verrender break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stu...

It was the 44 billion dollar float that flopped. 

AI startup Firmus has dramatically pulled the plug on what was supposed to be the second biggest listing in ASX history.  So what went wrong? Who is left "holding the bag"?

And what does the decision tell us about investor appetite for all things AI?

Carrington Clarke and James Thomson, senior Chanticleer columnist at the Australian Financial Review, break it all down on ABC Business Daily.

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We'd love to hear your questions! If there’s business and e...

Booms, busts and everything in between — for more than half a century, finance journalist Alan Kohler has had a front-row seat to the Australian economy.

For his final episode hosting That's Business, we're changing things up. Alan swaps the host's chair for the hot seat to reflect on what 50 years of reporting on money, markets and business has taught him.

What were the best and worst economic policies of his time? What has Alan got wrong? And if he could start all over again — would he do anything differently?

Carrington Clarke sits down with...

Migration is dominating the headlines, with the Coalition promising the biggest cut to immigration in Australia’s history — a policy opposition leader Angus Taylor has called "budget neutral". 

But what are the economic questions behind student visa numbers, skilled worker contributions, and pressures on the Australian property market?

And just how should economics shape decisions about migration?

Carrington Clarke and Professor Robert Breunig, Director of the Tax and Transfer Policy Institute at the ANU, break it all down on ABC Business Daily.

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We'd love to he...

It’s no surprise that people are feeling bad about the economy and their finances. 

But the latest look into consumer sentiment from the Westpac-Melbourne Institute’s index, reveals Australians are experiencing what the bank describes as a ‘cost-of-living nightmare.’

Meanwhile, you may have noticed the price of your morning cup of coffee has gone up as small businesses raise prices in the wake of the RBA’s surcharge ban. 

So what does the ban mean for businesses? And consumers?

Carrington Clarke and ABC Business Reporter Lin Lin break it all down on ABC...

The Australian stock market could be set for its second biggest IPO in history, with Firmus, the data-centre builder and operator, looking to tap the market for billions. 

So does the business case stack up?

Meanwhile, Australians across the country are adjusting to last week’s rate hike in an economy with inflation still higher than the RBA would like. The central bank says it hopes to avoid recession as it tries to tame price rises. 

But what lessons can be learned from previous economic cycles?

Carrington Clarke and ABC Chief Busi...

The surge in electric vehicle sales seems here to stay, as Australians look for alternatives to petrol-powered cars and the global energy crisis pushes prices at the bowser higher still. 

But with fewer drivers paying the fuel excise, what does this mean for government revenue? 

And what are the economics behind taxing vehicles on our roads?

Carrington Clarke and the e61 Institute's Amy Tramontozzi break it all down on ABC Business Daily.

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We'd love to hear your questions! If there’s business and economic news...

Commonwealth Bank is Australia’s biggest bank and its second-biggest company. 

One in three Australians are CommBank customers, giving it an enormous influence over the Australian economy.

Matt Comyn has been CBA’s CEO since 2018 and has been named by the Australian Financial Review as the most powerful person in corporate Australia. 

Now, with Australians watching closely for what happens to interest rates amid a still-high cost of living, Matt Comyn joins Alan Kohler on That’s Business to discuss rates, AI, productivity and the future of Australian banking. 

Got a burning b...

It’s health-check day for the Australian financial system, with the release of the Financial Stability Review from the Reserve Bank. 

And despite inflation still well above target, a fourth interest rate hike this year and the downturn in the property market, the RBA seems most concerned about what’s happening overseas.

So why is the AI investment boom's increasingly opaque funding on the RBA’s radar - and what else are they watching?

Carrington Clarke and ABC Finance Journalist Alicia Barry break it all down on ABC Business Daily.

Got a burni...

Fresh inflation figures from the Australian Bureau of Statistics give us a look under the hood of an economy running hot. 

So just what is keeping inflation higher than the RBA would like? 

How does this fresh data affect the odds of a further rate hike in November?

And how are central banks responding to the global bond market?

Carrington Clarke and Paul Bloxham HSBC’s Chief Economist for Australia, New Zealand, and Global Commodities, break it all down on ABC Business Daily.

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We...

The Reserve Bank of Australia has raised rates, bringing the cash rate to the highest it’s been since 2011. 

And even though this latest hike doesn’t come as a surprise, the sting will still be felt by borrowers throughout the country.

So what does this mean for the Australian economy? 

And how likely is a fifth rate hike before the end of the year?

Carrington Clarke and ABC News Business Editor Michael Janda break it all down on ABC Business Daily.

Got a burning business question?

We'd l...

Is the era of US-dollar dominance on its last legs? 

Against the backdrop of the war in Iran, a trade war with Canada, and bond sell-offs, trust in the Greenback appears to be weakening. 

Meanwhile central banks around the world have been looking elsewhere to shore up reserves. 

So how does this all play into rising interest rates - here in Australia - and across the world?

Carrington Clarke and ABC Chief Business Correspondent Ian Verrender break it all down on ABC Business Daily.

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Australia's migration debate is once again ramping up, with Labor planning to cut backpacker and student visa numbers amid calls from One Nation to slash immigration by 750, 000 places over three years.

Beneath the political storm is a complicated history of changing economic and social policy governing who gets to come to — and who gets to stay in — Australia.

Mark Cully is a former chief economist for the Department of Immigration, a former chair of the OECD Working Party on Migration, and the author of a new book: Waves of Plenty: Immigration and the Making of Aust...

The Australian Government is calling for stronger global rules around artificial intelligence. But as AI agents become more capable and autonomous, the question is becoming increasingly urgent: can governments regulate AI before it gets ahead of them?

This week, prime minister Anthony Albanese announced a swarm of OpenAI's agents appeared to work together to circumvent cybersecurity defences and access Medicare health data.

But the US President Donald Trump has rejected calls for more AI guardrails, arguing the technology should instead be embraced as "super intelligence".

Alan Kohler sits down with Andrew Charlton, Assistant...

New jobs data out today shows the unemployment rate has risen in Australia. 

But is it enough to halt the RBA's expected interest rate hike?

And an agent from Open AI has hacked into a Services Australia portal. 

Could this damage big tech's reputation at a time when it's asking for government support to invest in Australia? 

Carrington Clarke and ABC Finance Journalist Alicia Barry break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s busin...

Reserve bank boss Michelle Bullock has made her final public appearance ahead of next week’s rate decision. 

And with the public eager to get some sense of which way rates will go, the message most people seemed to hear was clear: The fight against inflation isn’t over yet. And it may take a further lift in unemployment to get there.

So is a rate hike all but certain?

Meanwhile, Donald Trump recently took the stage to address the United Nations General Assembly in New York. 

Is the US president about...

What will Australia’s economy be like forty years from now?

According to Treasury’s latest Intergenerational Report there will be about forty million of us. But will they be living better lives than the 28 million kicking around today?

And could AI finally turn around Australia’s flagging productivity problem?

Carrington Clarke and ABC Chief Business Correspondent Ian Verrender break it all down on ABC Business Daily.

You can read Ian's piece on the Intergenerational Report here. 

Got a burning business question?

We'd love to hear your questio...

The price of Brent Crude has climbed back above one hundred dollars a barrel in response to rising concerns that the ongoing conflict in the Middle East is spreading. 

Here in Australia, the Coalition is touting a new fuel excise proposal as the price of diesel climbs closer to spikes not seen since the beginning of the conflict.

Meanwhile, analysts from Australia's big four banks agree that a September rate hike from the Reserve Bank is looking increasingly likely.  

So what do the latest auction clearance rates do to fill in the Australian pro...

For years governments and companies have been trying to figure out how to make more houses people can afford in Australia. 

In other parts of the world, building homes in factories and then assembling them onsite is part of the solution — but it's never really taken off in Australia. 

Now, construction firm Built has joined up with Bunnings' parent company Wesfarmers to create Built Living, a company making pre-cast concrete apartment parts ready to turn into affordable homes. 

But are Australians willing to embrace the model? And what's the price impact, really?

Bui...

The US Federal Reserve has hiked interest rates for the first time since 2023 - and the consequences could reach all the way into your investment portfolio.

United States Federal Reserve Chair Kevin Warsh says the move is designed to bring inflation back towards target faster - but will one hike be enough, or are more on the way?

And as higher US rates ripple through global markets, shifting currencies, borrowing costs and share prices - what are the potentially significant consequences for Australian companies and investors?

In this special episode of ABC Business...

Thailand's massive car manufacturing industry has seen the country nicknamed the "Detroit of Asia".

But China's electric vehicle boom is shaking up the Thai automotive sector, with Chinese brands dominating the EV market and local manufacturers pushing for tariffs to protects themselves as vehicle production falls. 

Meanwhile in Australia, the economics of going electric are shifting again as oil prices come under renewed pressure and EV sales climb. 

On ABC Business Daily, Carrington Clarke and ABC Business Reporter Lin Lin explain how consumer behaviour and government policy turned Thailand's car market upside down, an...

The people building the world’s most powerful AI systems are starting to warn that development may be moving too fast.

Some want a slowdown and stronger safeguards. Others, including Donald Trump, are dismissing those warnings as a “hoax” that could hand China an advantage.

But underneath the safety debate is a huge economic story too - billions in investment, rising debt and enormous expectations riding on the AI boom.

Carrington Clarke and ABC Business Correspondent David Taylor unpack what’s driving the pushback, what it could mean for Australia, and why the US 10-ye...

Brent crude is back above US$100 a barrel, with a second critical global energy choke-point now looking increasingly vulnerable. At the same time, Australia has its own problem to solve. 

The Reserve Bank of Australia says inflation remains the country’s biggest economic concern - but some of the pressures pushing prices higher, including another jump in oil, are coming from forces Australian interest rates can’t control.

So how dangerous is this latest oil spike - and are borrowers being asked to carry the cost of inflation they didn’t create?

Carrington Clarke...

Donald Trump is rewriting the rules of global trade, using tariffs as political weapons and up-ending decades of economic orthodoxy.

At the same time, trade routes themselves have become central to the war in Iran, with the Strait of Hormuz sitting at the heart of the conflict.

So what does someone who has spent his career understanding the politics and economics of trade make of all this disruption?

Former Australian trade negotiator and author of Why Politicians Lie About Trade, Dmitry Grozoubinski joins Alan Kohler on That’s Business with Alan Kohler to un...