Yesterday
Iran war price shock, private credit pain and WFH battle reignites
James and Anthony tackle global energy volatility, credit market cockroaches and take a question on oil companies and their super profits.
Middle East conflict could push inflation to mid-sixes by June
A swift resolution to the war won’t be enough to stop prices marching higher, economists warn.
‘Double whammy’ minimum pay rise ‘could trigger a wages spiral’
The lowest-paid workers, such as fruit pickers, could get a bigger increase than the minimum wage rise this year, sparking fears of a trickle-up effect.
This Month
Labor’s wage rise plan amid oil spike risks ‘stagflation’
Economists fear a decision to increase minimum pay could aggravate impacts of the energy price shock, push inflation higher and put more people out of work.
Inflation and fertiliser price spike to hit Australia: OECD
The OECD called out Australia for a “resurgence in inflation” that pre-dates the Middle East conflict and warned of further interest rate rises.
Labor backs above-inflation minimum wage rise to combat fuel shock
The Albanese government has called for “sustainable real increase” in the minimum wage for millions of workers despite fears a big rise will fuel inflation.
Wartime inflation shock ‘catastrophic’ as fertiliser, plastics soar
The soaring price of lesser known commodities from the Iran war is a double whammy for farmers and manufacturers that have already been hit by the oil shock.
Soul Patts defies private credit jitters with 15pc returns
Soul Patts has made strong returns in its $1.6b private credit business and CEO Todd Barlow says he’s not afraid of investing where others will not.
Labor backs above-inflation minimum wage rise; Frustration within government over fuel; Markets ignore energy shock
Read everything that’s happened in the news so far today.
RBA’s narrow pathway on inflation will need to widen
If the central bank is serious about getting core inflation back to its 2.5 per cent target, it will need to abandon a dual goal to keep the unemployment rate low.
War will keep inflation ‘higher for longer’: Chalmers
New data from the period before the Iran conflict broke out shows headline inflation in Australia remained high and outside the Reserve Bank’s target range.
ASX restores $55b in value after 1.9pc rally; DroneShield surges 20pc
Shares rises the most in six weeks on Iran optimism; traders dial back rate rise bets; crude oil below $US100; gold miners rally; Alliance Aviation reassures investors. Follow live.
Two rate hikes, falling house prices tipped as inflation shock builds
Inflation from the oil shock is about to collide with an Australian economy that can keep growing strongly for the next six months.
Inflation cools; Rio gets $2b taxpayer handout; What investors must do as Iran de-escalates
Read everything that’s happened in the news so far today.
Chalmers warns CEOs against premature optimism on Middle East peace
The treasurer says the degree of damage Australia sustains depends on how long the war lasts and how quickly the global economy rebounds afterwards.
Telstra lifts most mobile plan prices by double digits in a year
Australia’s biggest telco will increase the prices for most of its mobile plans across all of its subsidiaries from May 5 – two months earlier than expected.
Consumer confidence hits historic low ahead of May budget
The worst confidence result in more than 50 years has economists concerned about Treasurer Jim Chalmers’ ability to sell an ambitious tax plan in the budget.
Reece pushes 36pc price rise on plastic pipes in building cost shock
The bathroom and plumbing giant is one of several construction materials suppliers warning that the war in the Middle East is forcing big cost increases.
Employers back 3.5pc increase in minimum wage amid inflation warning
The chamber of commerce and high-profile restaurateurs warn the ACTU’s 5 per cent claim could force the Reserve Bank to keep interest rates higher for longer.
Unions want inflation-plus minimum wage rise due to ‘Trump and RBA’
The ACTU’s claim for a 5 per cent wage increase for 3 million workers would drive minimum full-time salaries beyond $50,000 a year.
