Australian economy

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There’s been a bigger than usual post-Christmas slump in spending, as Omicron weighs heavily on shoppers’ minds. But there’s on thing Aussies are spending more on than ever.Consumer confidence took a big hit last week as the Omicron strain…

Critical US inflation data could spur on more sharemarket volatility as the ASX slides into the red for the second straight day, with supermarkets the worst performers.The Australian sharemarket slid into the red ahead of critical US…

The specialty chain for tradies and serious DIY-ers snapped up by the Wesfarmers-owned hardware giant is heavily focusing on one state before expanding.The Adelaide family business that Bunnings bought two years ago has been given a new…

The ASX finished in the red for the fourth straight day with losses across the board, but miners were the ‘conspicuous’ exception.The Australian sharemarket pulled back for a fourth straight day as energy stocks slumped and some bank stocks…

A controversial project has been given the green light as credit experts note financing is drying up for the ‘dirty’ industry.Coalminer Whitehaven has been granted approval to extend its Vickery project in NSW despite the commodity being…

Australia’s historic low official cash rate has been kept on hold, with the RBA saying the Delta outbreak has caused the economic recovery to lose momentum.The Reserve Bank of Australia has kept the official cash rate at a historic low and…

The strong rebound in the Australian economy has been reflected in one bank’s full-year results that pushed its share price to record highs.Commonwealth Bank’s impressive full-year results reflect the strong rebound in the Australian…

The ASX was unable to maintain momentum after yesterday’s fresh record high, but buy-now-pay later stocks kept basking in the glow of the Afterpay deal.The Australian sharemarket pulled back on Tuesday, unable to maintain momentum after…