The economist who inspired US president Ronald Reagan's tax cuts in the 1980s has suggested Joe Hockey's attempt to narrow the budget deficit by raising taxes on higher income earners will backfire. "Rich people are different from us," Art laffer said.
China has ramped up its construction activities across the Spratly archipelago over the past year, creating islands and building ports, fuel storage depots, accommodation and possibly two airstrips.
Local shares surged on Tuesday, driven by good leads from overseas and further indications that the Reserve Bank will deliver another interest rate cut.
The budget will be left with more than a $4 billion hole after the government's unvierstiy fee deregulation was defeated.
The Abbott government wants to exempt 700 big private companies from disclosing how much tax they pay.
The minutes from the latest RBA meeting show it is ready to roll up its sleeves and cut interest rates - if the Fed doesn't do the work for ...
The entire board of consumer foods giant Goodman Fielder, including CEO Chris Delaney, has resigned.
Socially responsible investment strategies are increasingly delivering stronger financial performance than their traditional counterparts.
Parliamentary criticism of NAB's UK arm has raised the risk it may face higher costs from compensating victims of misselling.
Stephen Roberts will move into a newly created role as chairman of Citi Australia.
