AAP

Around 40 per cent of Australians are struggling to make ends meet as the cost of living crisis stretches household budgets to their limit.

The local share market has finished basically flat, with gains for the miners balanced by losses for the big banks.

Approvals for new homes remains subdued as stubbornly high inflation and rising interest rates weigh on demand for home-building.

The lower-than-expected December growth report has raised concerns about the state of the economy and its resilience to global challenges.

The local share market has finished down 0.1 per cent after being in and out of positive territory on a day marked by the release of GDP and inflation figures.

Treasurer Jim Chalmers has blocked a Chinese investment fund from increasing its stake in a rare earth company on national security grounds.

The ASX has closed up 0.5 per cent but turned in a lacklustre performance for the month, giving back half of January's gains.

Employers are still offering big sums to entice in-demand workers but growth in advertised salaries is starting to wane.

Superannuation balances of more than $3 million will be subject to a higher rate of tax from FY26, with about 80,000 Australians to be affected by the change.

The Minerals Council says carbon credits are essential to manage mining emissions and remain competitive until electrification technology is widely available.

Harvey Norman has posted a fall in interim earnings, but says the result still represents solid growth for the retailer, despite a cut in the dividend payout.

Australian company profits have bounced back after dropping off steeply last quarter, with business inventories returning a softer-than-expected result.

The local share market has fallen 1.1 per cent as the odds increase that the Federal Reserve will return to supersized rate hikes to combat stubborn inflation.

Oil and gas giant Woodside has announced an underlying full-year net profit of $US5.2 billion ($A7.7 billion), up 223 per cent from the previous year.

Renters living in inner-city apartments or houses in regional hotspots across Australia have seen astronomical rental increases in the past year.

A new commissioner will be appointed to help oversee cyber security breaches as part of an overhaul of the sector in Australia, the government has announced.

The ASX has gained 0.3 per cent but still suffered its third straight week of losses as interest rates anxiety ratcheted up.

A new $20 million round of funding is now open for farmers to help develop ways to measure carbon in their soil, in a plan to help reduce emissions.

The Australia Institute has linked rising prices to growing business profits, and claimed workers should not accept sluggish wage growth.

The ASX has ended lower for a third day in a row, dropping 0.4 per cent amid a slew of company earnings reports.

Kimberley businesses affected by Western Australia's once-in-a-century-flooding in January will be eligible for more than $40 million in freight subsidies.

Easing supply bottlenecks and a robust pipeline of work fed into a strong final quarter for investment activity in 2022, the Bureau of Statistics says.

Qantas has reported a first-half underlying pre-tax profit of $1.43 billion - turning around last year's loss - as strong demand helped offset high fuel costs.

The ASX has finished down 0.3 per cent as strong US and weak Australian economic data sent mixed messages to investors.

Rising oil and gas prices fuelled by the Russian invasion of Ukraine have propelled gas producer Santos to record profits.

Jim Chalmers says he won't "pretend away" pressures on the federal budget which includes superannuation tax concessions.

The ASX has recovered most of its morning losses to finish down 0.2 per cent as traders digested a hawkish message from the Reserve Bank.

Australian consumers are feeling a little more upbeat but the nation's weekly measure of consumer confidence is still deeply in negative territory.

A return to the cashless debit card scheme will not address intergenerational issues in remote communities, the prime minister says.

The local share market has finished slightly higher as the market digested a spate of earnings reports from NIB, BlueScope Steel, Ampol, A2 Milk and others.

BlueScope has posted a drop in first-half net profit and warned of a "material impact" from proposed emissions rules for firms with big industrial facilities.

Industry, government and financiers need to invest more than $20 billion per year for the Australian economy to expand without dangerous levels of pollution.