Business Now with Ross Greenwood

Despite the massive fire at the Geelong refinery overnight, wholesale fuel prices fall yet again. Plus, the prime minister’s gone cap in hand to our neighbours for fuel and fertiliser supplies.

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The IMF warns a global recession looms if the Strait of Hormuz stays closed, Virgin Australia flags higher fares as fuel costs rise. Plus, the share market jumps on hopes of a US-Iran deal.

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Business and consumer confidence plunge as fuel costs bite and more rate rises loom, petrol drops over 50 cents a litre from its peak to the lowest since the conflict began. Plus, Qantas shares tumble after cutting 5 per cent of domestic flights.

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Oil prices again swing higher as peace talks between the US and Iran break down. Plus, shares in A2 Milk slump after it admits it can’t get enough infant formula from its New Zealand supplier.

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Oil prices remain volatile ahead of the expected peace talks between the US and Iran in Pakistan tomorrow. Plus, the government considers banning self-managed super funds from the Compensation Scheme of Last Resort.

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The re-opening of the Strait of Hormuz as part of the ceasefire lasted less than a day. Plus, after a massive rise yesterday, financial markets are little changed today despite the fragile state of the cease-fire.

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Oil prices plunge $15 a barrel as markets post their best day since Trump eased his tariff threats, the ceasefire is conditional on the immediate reopening of Hormuz. Plus, the housing sector calls for urgent action as completions fall despite lower rates. 

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Petrol prices keep easing but diesel remains high, the Federal Government delays finalising the budget to the last moment, but despite the outlook the stock market surges with strong gains across tech, miners and the banks.

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The prime minister urges Australians to save fuel in a national address, the government rolls out a four-stage fuel plan. Plus, Donald Trump says the US war with Iran will end soon in his own address.

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The Prime Minister is set to deliver a state of the nation address tonight, the cut to fuel excise started today. Plus, a billion-dollar mortgage fraud that hit the Commonwealth Bank and NAB is a wake up call for all companies.

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Bank surcharges gone from October, the Fair Work Commission rules that 18 to 20-year-olds should be paid adult wages in the retail and hospitality industries. Plus, the fuel crisis again highlights Australia's vulnerability.

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The government cut the fuel excise for three months, dwindling consumer confidence in weekend property markets with just two in five homes up for auction sold in Sydney. Plus, some truckies reporting fuel price hikes of more than $2,000 a week.

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Markets stay volatile as investors react to Donald Trump’s comments, the Middle East conflict boosts defence stocks. Plus, one of the biggest weekends for property with more than 4,400 auctions nationwide.

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As Cyclone Narelle intensifies off the West Australian coast with a chance of becoming a category five storm, key iron ore and LNG export ports are closed. Plus, the government calls for an above inflation wage rise for almost three million workers.

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Global oil prices fell today leading to our stock market's best day in almost a year, Singapore Airlines started selling tickets today for the new Western Sydney International Airport. Plus, fuel prices threaten to soar for longer.

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Australia's European free trade deal promises cheaper electric cars and opportunities for horticultural growers. Plus, oil prices plunged 14 per cent after Donald Trump gives Iran 5 days of negotiating time before bombing key infrastructure resumes.

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Fuel shortages and higher prices might only get worse from here, Kyle Sandilands launches his lawsuit against former employer ARN Media. Plus, Australia is expected to sign a free trade agreement with the European Union tomorrow.

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Brent crude oil prices drop back from their highest level since July 2022, money markets expect Australia's cash rate to lift to 4.85% by the end of this year. Plus, investors focus more on the Middle East than the rout of global software stocks.

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The world's biggest gas export facility in Qatar is hit by Iranian missiles, Treasurer Jim Chalmers lays out his major budget preview. Plus, the Energy Regulator announces its latest price rises for uncontracted electricity users.

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The Treasurer hoses down talk of a recession, BHP and Woodside both announce new CEOs. Plus, the government charged the ACCC to investigate fuel price gouging but the ACCC Deputy claims it is not actually illegal.

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The Reserve Bank raises interest rates by a quarter of one percent, but the big shock is that Governor Michele Bullock will not rule out a future recession for Australia. Plus, HSBC Australia Chief Economist Paul Bloxham joins Ross Greenwood.

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Markets say interest rates will rise tomorrow and two more times this year, the Victorian government settles out of court with businesses affected by its COVID-19 lockdowns. Plus, the cause of the inflation is fuel prices.

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Former UN diplomat Merriden Varrall discusses the Iran war and the geopolitical implications, market pricing for a rate rise next week surges to roughly 82 per cent. Plus, the latest GST carve up has WA, Queensland and Victoria as the big winners.

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Oil surges above $US100 a barrel as Iran targets tankers in the Strait of Hormuz, Atlassian slashes 1,600 jobs amid the AI shake-up. Plus, Australian super funds showcase their financial strength in the US, urging infrastructure sell-offs.

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Money markets and economists expect the Reserve Bank to lift interest rates on Tuesday, hundreds of homes and businesses inundated by floodwaters in Bundaberg. Plus, the National Reconstruction Fund invests $200 million in Macquarie Technology Group.

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Global markets rebound and oil falls below $US90 a barrel after Trump says the Iran war could end soon, rising petrol prices send consumer and business confidence plunging. Plus, CrowdStrike CEO George Kurtz weighs in on the AI arms race.

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About $90 billion was wiped off Australia's share market today, Brent Crude has soared above $US114 a barrel. Plus, the oil price shock is stoking fears of inflation and higher interest rates.

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Global markets plunge off the back of concerns over the conflict in the Middle East, China takes its growth target down to 4.5-5 per cent, marking the least ambitious target in 35 years. Plus, a look into the auctions market for the weekend.

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Matt Bekier and Paula Martin, have been found by a Federal Court Judge to have contravened the Corporations Act, the inflation shock from rising energy prices stemming from the war in Iran. Plus, Ross Greenwood sits down with Gerry Harvey.

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The stock market plunges to its lowest level in two weeks, Australia's economy grew faster than expected in the December quarter. Plus, we'll play you Ross Greenwood's interview with the CEO of Australia's largest supermarket chain Woolworths.

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Iran's Revolutionary Guard are threatening to attack vessels in the Strait of Hormuz, Aussie businesses are scrambling to understand what the impact of the Iran conflict will have on them. Plus, Qantas CEO Vanessa Hudson speaks to Ross Greenwood.

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Oil prices have surged after the US and Israeli strikes on Iran disrupted the Middle East. Plus, energy producers, gold companies and defence stocks took off on the market today in response to the military escalation. 

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Computer chip maker Nvidia shares take off after earnings doubled in the past quarter and the company lays out massive growth for the future. Plus, Qantas shares tank despite an upbeat half-year profit report.

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Pencil in May 5 in your diary because that's the day markets now say the Reserve Bank will raise interest rates. Plus, Woolworths shares shot the lights out to their highest in almost 18 months after profit and sales growth beat forecasts.

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Tech shares slump as IBM has its worst day in 25 years, former treasurer Peter Costello lets rip at the federal government. Plus, the Retail Council says consumers and retailers will pay an extra $9 billion because of inconsistent state regulations.

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Share prices fall hard after Donald Trump's tariff defeat, the impact of the US Supreme Court rejection of Trump's tariffs. Plus, this Wednesday's inflation figure is the last clue before the Reserve Bank makes its next interest rate decision.

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Founder of the Tex Mex fast food chain Guzman y Gomez and CEO of Inghams joins the show. Plus, oil prices surge to their highest level since August, as geopolitical tensions escalate between the US and Iran.

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A strong labor market immediately puts pressure on the Reserve Bank to continue raising interest rates this year. Plus, competition watchdog, ACCC is in the fourth day of its legal clash with supermarket giant Coles.

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Treasurer Jim Chalmers slams former Reserve Bank Governor Philip Lowe, the Stokes family-controlled SGH group drops a second takeover bid on Bluescope Steel. Plus, we speak with ASIC Commissioner Alan Kirkland.

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Hastie named the Shadow Industry Minister. Tim Wilson appointed the Shadow Treasurer. Plus, BHP's revenue for the half year is ahead 11 per cent to $27.9 billion.

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The International Monetary Fund calls out federal government over-spending and warns it may need to bail out broke states including Victoria. Plus, we take you inside a boardroom drama worthy of a mini-series.

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Newly appointed Opposition Leader Angus Taylor says the Liberal Party must focus on lowering taxes to fight back against Labor's big spending agenda. Plus, the CEOs of commercial property giant BWP Group join the show.

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The Liberal Party leadership challenge is the big political talking point, but Coalition members got stuck into the Reserve Bank Governor today. Plus, AMP and Temple & Webster shares both tanked by 30 per cent during the day. 

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The Commonwealth Bank's profit soars and so does its share price. Plus SGH, the old Seven Group and owner of Boral, Westrac and Coates Hire - put out a strong profit today.

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Consumer confidence slumped with all the talk about higher interest rates, shares in local insurers and insurance brokers tank. Plus, we speak with the CEO of Australia’s biggest after-market auto parts makers.

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The owner of the Carsales website took off with its profit announcement today after a rough six months, financial markets have been highly volatile of late. Plus, how many more rate rises will we see this year? The markets say one.

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More than $65b wiped out on the ASX as tech stocks nosedive, Reserve Bank Governor Michele Bullock finally admits that government spending contributes to aggregate demand. Plus, Japan's PM Sanae Takaichi is poised to win this Sunday's snap election.

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Large tech companies on Wall Street remain under serious pressure despite delivering strong earnings results. Plus, oil and gas producer Beach Energy is the first major ASX-listed energy company to report its results this profit season.

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Tech stocks were heavily sold off today, following a $300 billion US dollar rout on Wall Street, the Reserve Bank raised interest rates for the first time in more than two years. Plus, La Trobe Financial has reported strong inflows during January.

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The Reserve Bank has raised the cash rate by 25 basis points to 3.85 per cent, that's its highest level in more than two years. Plus, we'll discuss this tough economic outlook with the CEO of Australia's largest debt collector and buyer Credit Corp.

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The odds of a rate rise by the Reserve Bank got even stronger today, the founder and major shareholder of Corporate Travel Management Jamie Pherous today stood down with immediate effecthome prices kept rising in most capital cities in January.

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Nine Entertainment shares jump after plans to sell radio and regional TV assets and buy QMS Media for $850 million, Donald Trump prepares to name a new Federal Reserve chairman. Plus, gold and silver trade near record highs.

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A serious outage at the Reserve Bank delays hundreds of property settlements using the PEXA system, the ASX announces a new corporate governance advisory group. Plus, the US Federal Reserve keeps interest rates on hold.

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Major bank economists and money markets say the Reserve Bank has no choice but to raise interest rates next week. Plus, the Indonesian stock market is in freefall today, after the American finance company MSCI raised serious concerns.

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Gold and silver surge to new record highs, Don Farrell becomes the first Australian minister to visit Saudi Arabia in nearly a decade. Plus, BHP overtakes Commonwealth Bank as Australia’s biggest company after a 27 per cent rise in shares.

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It's appropriate that on Australia Day, The Aussie dollar hits its highest point against the Japanese yen since 1991. Plus, gold smashes through $US5000 an ounce for the first time in history.

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Australian super funds post double-digit returns, lifting balances about 35 per cent over three years, as ASX listings slump well below average. Plus, Donald Trump files a $5 billion lawsuit against JP Morgan and CEO Jamie Dimon.

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The odds of an RBA rate rise within weeks climb above 50 per cent following OECD warnings, unemployment falls from 4.3 per cent to 4.1 per cent. Plus, a public spat unfolds between Ryanair boss Tony O’Leary and Elon Musk.

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Shares in Australian Strategic Materials surge on a US takeover bid, ASIC orders CFD providers to refund $40 million to investors. Plus, AFIC dumps its WiseTech stake over corporate governance concerns.

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Aussie start-up Gilmour Space has rocketed to a $1 billion dollar valuation, after securing $217 million dollars in funding. Plus, mining giant BHP has posted record production of copper and iron ore during the first half of the year. 

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Markets are on watch ahead of US President Donald Trump’s appearance at the World Economic Forum in Switzerland later this week. Plus, the Reserve Bank’s first monetary policy board meeting of the year will be held in just two weeks.

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The mid-year economic and fiscal outlook has confirmed that Australia's federal budget will remain deeply in the red until at least the 2035 financial year. Plus, SMEs are under serious financial pressure. 

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US Federal Reserve cuts rates to 3.75 per cent from 4 per cent, unemployment rate flat at 4.3 per cent in November. Plus, Ross Greenwood tours some stunning properties up for grabs.

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Markets lift after the US Federal Reserve cuts interest rates, Australia's unemployment rate remained steady in November at 4.3 per cent. Plus, one ASX-listed company announces plans to expand its footprint in New Zealand.

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Treasurer Jim Chalmers set to release the mid-year budget update next week. Plus, ASFA raises serious concerns with the federal government's plan to add APRA-regulated super funds to the Compensation Scheme of Last Resort.

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The Reserve Bank keeps interest rates on hold at 3.6 per cent, high demand for domestic air travel in spring leads to higher airfares for Aussie travellers. Plus, Paramount launches a hostile takeover bid for Warner Brothers.

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Jim Chalmers says the federal government's energy rebates will come to an end after Cabinet ruled out extending the scheme. Plus, Donald Trump raises potential antitrust concerns around Netflix's planned $108 billion takeover of Warner Brothers.

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OpenAI partnering up with NextDC to build the largest data centre in the southern hemisphere, Investment manager State Street releases their global market outlook. Plus, could there be a champagne shortage this Christmas?

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Money markets say the next move in interest rates will be up, ASIC completes its first ever survey of companies and their policies about whistle-blowers. Plus, a week out from the ban on major social media sites for under-16-year-olds kicks in.

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Australia's annual economic growth is faster than any time in two years but is still slower than government spending, Michele Bullock warns if inflation takes off, they will raise rates. Plus, buy now pay later companies tank on the stock market.

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The government's target of 1.2 million homes between now and 2030 is batterd, with home building approvals dropping again. Plus, Price Waterhouse Coopers former CEO suspended as a charted accountant for four years.

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Another warning Australia's east coast could experience power blackouts from 2027 as the nation's largest coal-fired power station is due to close. Plus, the ASX has a blackout of its own, with it unable to post time-sensitive company announcements.

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Corporate Travel Management's accounting scandal is worse than expected, inflation surged to its highest level since June 2024. Plus, Michael McCarthy joins the show to discuss the upcoming US Federal Reserve interest rates decision.

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Australia's private capital expenditure surged during the September quarter. Plus, banking regulator APRA is set to introduce debt to income limits on home loans as it attempts to prevent a build-up of risky home lending practices.

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Inflation rises to 3.8 per cent in October, marking the highest level in 16 months, Electro Optic Systems agrees to pay a $4 million penalty. Plus, the RBNZ cut interest rates today to 2.25 per cent.

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Bendigo Bank discloses major flaws with its systems made to detect and prevent money laundering and terrorism, a Seek job ad report shows ad volumes were down, but salaries lifted 3.6 per cent. Plus, a deep dive into Australia's major commodities.

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Australian non-financial companies expected to lead the economic growth in Asia Pacific next year thanks to falling interest rates. Plus, rental affordability continues to approach record lows across most of Australia.

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The stock market plunged to its lowest level since May this morning, Nvidia's shares takes a tumble on Wall Street triggering the selloff. Plus, a 1940 painting was sold overnight for nearly $55 million US dollars.

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The federal government is being encouraged by the international Monetary Fund to tackle tax reform and to spend more efficiently. Plus, Magellan Financial Group is back in the middle of a mess after successive scandals in the past year.

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Cyber criminals will be aggressively targeting consumers and retailers in the Black Friday sales, wages are growing faster for public servants compared to private sector wages. Plus, big falls in gold and crypto.

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RBA minutes kill hopes of another rate cut as stubborn inflation bites, a TPG customer dies after their phone couldn’t reach triple-zero. Plus, a deep dive into Australia’s livestock production.

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The UK High Court decides BHP is liable for the 2016 Samarco tailings dam wall collapse in Brazil, SQM says it will fight an action brought by corporate regulator ASIC. Plus, the apparent first major gas discovery in Bass Strait in eight years.

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Investors in America are worried the US Federal Reserve won't cut interest rates next month, interest rate traders and economists have been delaying Australian rate cut forecasts back until mid-next year following the unexpected unemployment numbers.

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Explosives and chemicals manufacturer Orica has reported its strongest results in 13 years thanks to surging demand from the mining sector for its products. Plus, shares in accounting software maker Xero have plunged on the market today.

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Chair of ASIC Joe Longo opened the Australian Investment and Securities Commission's annual forum in Melbourne. Plus, CEO of Roy Morgan Research Michele Levine speaks about her research in determining companies reputations.

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The Commonwealth Bank reports a 2 per cent rise in cash profit to $2.6 billion for the half-year, driven by customers refinancing at lower rates following RBA interest rate cuts. Plus, The Wiggles have come under scrutiny from the ACCC.

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The Reserve Bank pours cold water on hopes of early rate cuts, ANZ bosses miss out on $32 million in bonuses after a weak year. Plus, Bitcoin holds steady around the $100,000 mark.

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Elon Musk has been granted a record breaking $US1 trillion pay incentive deal by Tesla shareholders, the Albanese government is splurging $1 billion on green iron, which struggled to take off in other parts of the world.

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NAB shares fall 3.5 per cent after the company’s profit dropped and muted growth outlook, the US Federal Reserve pumps $125 billion into its banking system over the past five days. Plus, Tesla shareholders vote on Elon Musk's pay deal.

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Our stockmarket hits a six week low, corporate regulator ASIC says our market technology has fallen behind. Plus, Suncorp CEO says more Australians are vulnerable to weather events as towns are being built in the wrong places. 

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Shadow Treasurer Ted O'Brien's party in turmoil, giving government and the treasurer free reign when serious economic storm clouds arise. Plus, HSBC's chief economist Paul Bloxham joins hosts to discuss the next move in rates. 

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Westpac's operating profit in the past year fell to less than $7 billion, the Reserve Bank meets tomorrow, any hope of a rate cut is well off the table. Plus, the latest home price data for October shows values are again rising fast.

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Family-owned beer producer Coopers has reported an increase in sales during the financial year to about 309 million dollars. Plus, the Liberal Party debates whether to abandon its commitment to net zero by 2050.

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Australian interest rates seem set to stay on hold while American rates were cut overnight, Coles' sales are growing almost twice as fast as Woolworths. Plus, hundreds of workers and contractors have been stood down at the Tahmoor coal mine.

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The increase in inflation is higher than the Reserve Bank forecast, Woolworths sales come in higher than expected. Plus, the Chair of Tesla says there's no other Elon Musk as she urges shareholders to agree to his pay-deal.

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Wisetech shares are smashed after ASIC and the AFP raid its headquarters while seeking documents related to sharetrading by its fonder and other employees. Plus, the Tomago aluminium refinery could become unviable in just over two years.

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The ACCC takes on tech giant Microsoft over claims it misled millions of customers, major shake-ups hit Aussie companies PolyNovo and Nuix. Plus, all eyes are on inflation data ahead of next week’s crucial RBA rates call.

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Australian critical minerals and rare earths companies have been surging on the share market after Donald Trump signed a framework agreement with Anthony Albanese. Plus, gold stocks have been some of the top performers this year.

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Gold and Bitcoin tumble but oil surges as US sanctions hit Russia’s biggest producers, work from home bombshell as a Westpac employee wins the right to stay remote. Plus, Wall Street rocked as Tesla and Netflix disappoint investors.

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