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The nation’s central bank has reacted to concerns about the pace of interest rate rises with a softer-than-expected decision, lifting the official cash rate 25 basis points to be 2.6 per cent.
The gas industry is predicting a tripling in its bill for tax and royalties after windfall profits brought on by high prices prompted by the war in Ukraine.
Global economies should not give up on corporate tax despite the challenges of collecting taxes from large multinationals skilled at exploiting tax havens.
The Australian share market has resumed its downwards action, with the local bourse closing at its lowest level since June 20 as soaring bond yields continue to press on equities.
After taking a break for the public holiday, the local share market has picked up where it left off - by sinking lower as central bank rate hikes weigh on sentiment.
The property sector has gained ground, mining and financials were flat and the rest of the share market receded in a day of directionless trading on the ASX.
Origin Energy is expected to divest its 50 per cent stake in an oil and gas exploration venture with Buru Energy as the gas and electricity major turns its focus to “cleaner” projects.
The local share market has closed modestly higher though it still has a long way to go before recouping its losses on Wednesday, the worst day in three months.
An independent 'reporter' will assess the effects of industry on ancient rock art in the Pilbara where a contentious fertiliser plant is being developed.