AAP

A royal commission into the unlawful robodebt scheme has recommended senior figures behind it be prosecuted over their roles in the troubled program.

The S&P/ASX200 plunged down more than 1.5 per cent in early trade this morning following a broad sell-off in the US markets overnight.

The local bourse has fallen 1.24 per cent, driven lower by miners and fears of future interest rate rises by the US central bank.

Corporate regulator ASIC has fined retail broker Openmarkets a record $4.5 million for failing to stamp out a client's suspicious trading activity.

The local bourse has fallen 0.35 per cent after underwhelming Chinese economic data raised fears Australia's largest trading partner is heading for a slowdown.

Acting Treasurer Katy Gallagher has called on the states and territories to better "phase" their massive infrastructure projects, but stopped short of labelling them inflationary.

The local share market jumped 0.69 per cent in under 15 minutes to finish 0.45 per cent higher after the Reserve Bank kept the cash rate steady at 4.1 per cent.

Increased travel access for Indonesians is set to be announced when Joko Widodo and Anthony Albanese meet on the first day of the Indonesian leader's visit.

The local share market has finished 0.59 per cent higher, with traders casting an eye ahead to Tuesday's Reserve Bank interest rate decision.

The names of eight sacked partners from embattled constancy firm PwC have been revealed as the investigation into the tax leak scandal continues.

The federal government has assembled a crack team of scam-busting experts to target investment swindles that cost Australians millions of dollars a year.

The Australian share market finished 0.12 per cent higher on the financial year's last day of trading but uncertainty awaits investors.

The education minister has warned that childcare centres lifting fees are in the sights of the ACCC as subsidies for parents increase.

The local bourse has finished essentially flat after strong retail spending growth tempered expectations the Reserve Bank will keep interest rates steady.

The nation’s retail turnover rose a moderate 0.7 per cent in May supported by discount shopping and higher food-related spending, according to the Australian Bureau of Statistics.

The resources industry is at the core of success, as a nation and as a state, proud Queenslander Jim Chalmers will tell a mining conference in Brisbane.

The local share market has enjoyed its best day of trading in 11 weeks, rising 1.1 per cent with inflation data likely closing the door to a rate hike in July.

Still paying the reputational price for blowing up sacred caves, Rio Tinto has told a global mining forum it is driving cultural change across the business.

The local share market has gained 0.56 per cent, led by miners and the big banks to snap a four-day losing streak despite a poor lead from Wall Street.

The outlook for the Australian manufacturing sector remains gloomy as cost pressures show few signs of letting up.

US stocks have closed lower amid apparent investor jitters regarding the situation in Russia and further rate hikes by the Federal Reserve.

The local bourse has fallen 0.3 per cent, finishing lower for a fourth straight day as global recession concerns rattled nerves.

The local share market has finished 1.3 per cent lower, closing the week down 2.1 per cent despite solid gains on Monday and Tuesday.

Green hydrogen champions will get subsidies to bridge the gap between the fuel's cost and what the market is prepared to pay, with no timeline for profits.

The local share market dropped 1.6 per cent after the US central bank chairman said interest rates needed to rise further.

The Australian share market has snapped its seven-day winning streak, with investors apparently apprehensive about Jerome Powell's testimony to the US Congress.

The pullback in non-essential spending continues as households scrimp on nice-to-haves so they can meet higher mortgage repayments.

Australian shares closed up nearly 0.9 per cent, reaching their highest level since April while the local currency plunged after the release of the RBA minutes.

A new report shows unleashing the power of skilled migrants and refugees could boost the Australian economy and fill workforce gaps.

The local bourse has finished at its best level since May 1 after six straight days of gains as "FOMO traders" rush to catch up with the bulls.

The Senate has voted to establish the Indigenous Voice referendum, setting in motion the timeline for the public poll later this year.

New Treasury figures show Australia outperforming major advanced economies in the past 12 months for employment growth.