Finance

Profits, not wages, are the main driving force behind inflation, according to a new report that throws light on major companies posting big profits while passing on higher prices to customers.

Prime Minister Anthony Albanese announced the decision after a national cabinet meeting, which had been brought forward from Monday to early Saturday to discuss the escalating COVID-19 wave.

Recent findings suggest the average outstanding invoice is now repaid in 38 days, compared to 31 days in January.

The Morrison government's Pandemic Leave Disaster Payment scheme, which provided $750-a-week lump sum payments to workers required to self-isolate after testing positive for COVID-19, expired on June 30.

With the US facing a recession and interest rates rising globally to curb inflation, Australia is facing a tumultuous economic period.

The Australian Bureau of Statistics says the economy added some 88,400 jobs over June, while the number of unemployed people fell by 54,300.

This acute and ongoing skills crisis must urgently be addressed, and while the government has a plan, there is a clear role for the private sector to play as well.

Five years of research reveals an industry facing pushback from both workers and customers, with many workers seeking to leave the gig economy.

Australian working women earn less than men from the moment they enter the workforce, and the gap between their pay is eroding their economic security over their lifetime.

Bob Hawke popularised the political summit in 1983, and Labor leaders ever since have tried to emulate it. But are they actually worthwhile?

On September 1-2, the Albanese government will make good on its election pledge to meet with business groups, union representatives, and social service advocates to tackle some of the biggest challenges facing the Australian economy.

As long as the RBA continues to hike interest rates, mortgage payments will rise. We take a look at which areas of the country are most affected.