David Taylor

SpaceX operates rockets, spaceflight, telecommunications, and AI — but Elon Musk now wants to establish a self-sustaining city on Mars, with at least 1 million inhabitants.

A major Australian bank has warned the price of oil is at risk of surging to $US150 per barrel as oil inventories approach critically low levels. 

The Iran war and the oil supply squeeze are supercharging business investment in renewables.

It will shut its 62 company-owned stores in the coming weeks and working through "transitional arrangements" with 27 stores owned by franchises, with hundreds of staff facing redundancy.

The Australian dollar falls to its lowest level in over two months, just over 70 cents to the US dollar, amid a renewed surge in the greenback as global interest rates, including US interest rates, rise.

The economy grew just 0.3 per cent in the first quarter, gross domestic product per capita went backwards, and interest rate rises and cost-of-living pressures are weighing on households.

Australia's economy expanded 0.3 per cent in the first quarter of 2026, taking the annual growth rate to 2.5 per cent, the ABS says. The ASX rose. Look back on how the session unfolded.

Millions of workers will get a 4.75 per cent pay rise after Fair Work raised modern award wages above the rate of inflation. Catch up on the day's financial news and insights from our specialist business reporters on our blog.

The price of gold has crashed 20 per cent placing the precious metal into a bear market as the Middle East conflict drags on.

The gold price is now plunging after the precious metal's surge to a record high this year.

Early signs of an Australian housing market correction are now clearly visible, and at the heart of the recent property market weakness is less vendor power. 

All four major banks now expect the RBA to keep the cash rate on hold at its next meeting on June 16, as the unemployment rate spikes to 4.5 per cent.

Optus' owner Singtel says it is looking to sell a minority stake in it. And the jobless rate has jumped to 4.5 per cent, raising expectations the RBA may pause its interest rate hikes in June. Look back on the day's market activity in our blog.

The Reserve Bank is growing increasingly anxious about price pressures building in the economy and its chief economist has raised the risk of a recession in post-budget remarks.

The ABC's managing director says the public broadcaster's biggest challenge is "stopping things" as he seeks to grow audiences on new platforms without increasing staff.

The Coalition wants to limit Australia's net migration intake to only one person per new home built, but businesses say the economy needs a "sustainable" migration program.

In good news for travellers, the Australian dollar is now sitting comfortably above a four-year high as investors see the Federal Reserve cutting interest rates and the RBA hiking them.

Investors in stocks will be affected by changes to capital gains tax, but experts say the budget is still likely to see some investment move away from property and into shares.

The tight supply conditions that have underpinned the national housing market in recent years are starting to ease, according to property data firm Cotality. 

The local share market and currency rose strongly on Wednesday. Look back at how the session unfolded on the ABC News markets blog. 

Australia had an inflation problem before the Iran war, but it's turned sinister. We've become hostage to oil prices, and as the governor of the Reserve Bank puts it: "We are all feeling poorer".

The 10-Year Treasury bond, which the Commonwealth issues to raise money, pushes past 5 per cent, raising the cost of paying off debt and suggesting inflation is not under control.

The cost-of-living crisis has just shifted up a gear, inflation has spiked by 1.1 per-cent to 4.6 per-cent in the March quarter, its highest level in two and a half years.

Morningstar's Lochlan Halloway says markets are hanging onto the idea that we will get a resolution to the Iran war in the next few weeks while being supported by optimism about artificial intelligence and the tech sector.

The Viva Energy refinery provides about 10 per cent of Australia's fuel. Its chief executive, Scott Wyatt, chats to Alan Kohler about the company's future in the wake of the Geelong fire.