business
AI Albo tax meme promoter ditched nuance to go viral
One startup founder who helped spread viral memes about capital gains tax reforms says the campaign was aimed at attracting attention after the budget, and not necessarily focused on accuracy. Source link
Australia is wasting $1 billion on car parks nobody uses, report finds
Australia is wasting more than $1 billion each year building off-street car parks that end up unused and unwanted, a Grattan report has found. Source link
RBA warns Australia risks slipping into a '1990s recession' as oil shock mounts
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. Source link
Live: ASX jumps more than 1 per cent in rebound rally
The local share market is rebounding from Monday’s heavy selling, as shares in Tuas make back some of their heavy losses. Follow the day’s events and insights from our business reporters on the ABC News live markets blog. Source link
Behind the front lines of the war against illegal waste
While Queensland councils cleaned up enough illegally dumped waste to fill more than 1,200 garbage trucks, investigators say they are getting better at catching those doing the wrong thing. Source link
'The party had to end': Young investors torn on budget tax reform
Some young Australians locked out of the property market due to unaffordable housing have pursued ETFs and “rentvesting” as a way to build financial security. Here’s what they make of the budget’s CGT reforms. Source link
Tax breaks reward those who can afford to take risks. What about the rest of us?
As the federal budget prompts howls of protest from those who earn the bulk of their income from owning assets rather than working, we shouldn’t forget the relative privilege that has allowed many of those people to take those risks. Source link
Overseas company makes billions in profit but is receiving millions in government bailouts
China is “playing a hard game” with its stranglehold on the global minerals and metals market and Australian smelters need taxpayer support to “play hard back”. Source link
Anglo American sells central Qld coal mines to UK company
Anglo American says it has sold its five steelmaking coal mines in central Queensland to a UK mining company Dhilmar Ltd for up to $5.43 billion. Source link
Live: ASX down after Wall Street losses, AUD also lower, oil rises
The ASX 200 has opened the new trading week with a fall of 1.45 per cent, continuing its downward trend during the month of May. Meanwhile, uncertainty over the Iran war has seen Brent crude oil rise above $110 a barrel. Follow live. Source link