Today's Business News & Views

Weaker living standards, worse deficits as economists point to bleak year

Australian top economic forecasters expect living standards to fall in the year ahead as economic growth weakens and the budget deficit blows out.

Mariah Klay is unsure when to exchange her Australian dollars for pounds after the British currency plummeted in value ...

Young Australian travellers unsure when to swap their dollars for pounds

Travellers to the UK are being left with a tricky choice.

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What will happen to super funds now?

Australians managing their superannuation or trying to build a nest egg will be wondering what to do as the full impact of Britains decision to leave the UK pulls down stock markets.

Aussie millionaires on the rise

The number of Aussie 'hinwis' (high net worth individuals) has gone up even as the country's mining boom subsides.

Australia's millionaires club won 8000 new members last year, according to Capgemini.

Housing boom boosts Aussie millionaires

The number of millionaires living in Australia grew last year even as the mining boom subsided, helped by rising property values.

CEO shock over Brexit

Chief executives face tough decisions over how to respond to Britain's vote to leave the European Union.

Wall Street usually knows the risks, but often underestimates them.

Brexit could send world 'over the edge'

The risk of another global recession escalated Friday after Britain's stunning decision to leave the European Union plunged financial markets into free fall.

Kerensa Walsh, widow of young father Brenton Walsh.

'I miss Daddy': Widow urges inquest into Woolworths worker's suicide

On the last day of his life, Brenton Walsh shook himself awake at 4am. He showered, he boiled some water, he made some coffee. And then he was out the door, driving to Woolworths in the Victorian town of Moe, where he was manager of the supermarket's shelf-stacking team.

Since 1986, when the Euro Stoxx 50 loses at least 5 per cent in a single day, the S&P 500 on average drops as much as 6 ...

Wall St sees short-term hit

Viewed from a wider lens, however, the bludgeoning looks more like a blip for US investors.

Brexit vote pummels US stocks

Britain's vote to exit the European Union has sent US stocks plunging.

How Australian businesses reacted to Brexit

The United Kingdom's decision to vote to leave the European Union was one motivated by emotion and fear, Australian business leaders say.

Global markets were blindsided by the result.

Global shares lose $2.7t overnight

Global stock markets lost about $US2 trillion ($2.7 trillion) in value overnight after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds.

Brent for August settlement fell $US2.50 to $US48.41 on the London-based ICE Futures Europe exchange. It's also the ...

Oil futures drop in risk-asset purge

Oil futures dropped 4.9 per cent in New York and London, the biggest decline in four months.

Economists back Labor cuts

If Australia's leading economists were deciding the election they would vote for Labor's cuts to negative gearing.

Citigroup downgraded Lloyds Banking and Barclays to sell after the Brexit vote.

Banks plummet as profit outlook dims

Bank stocks plunged worldwide and finance chiefs were stunned by the UK's vote to leave the EU.

Some economists say making better use of renewable energy is a priority for the future.

Climate as important as the deficit

Dealing with climate change will be as important a challenge for the next Australian government as dealing with the deficit according to the BusinessDay Economic Survey.

Experts forecast low rates, weak economy

The mid-year Scope BusinessDay economic survey - Australia's longest running - predicts economic growth of just 2.6 per cent in 2016-17.

Banks plunged after rallying the most in five weeks on Thursday, with Citigroup down the most in four years.

Wall St pummelled as financials fall

US stocks plunged the most in 10 months, joining a selloff in global risk assets.

Topshop founder Sir Philip Green lost around $US500m on the day.

UK richest lose $7b on market drop

The richest people in the UK lost big after the country stunned markets by voting to leave the EU.

In the current global setting it will be extremely hard for the Fed to move long rates," said Massachusetts Institute of ...

Fed rate strategy dealt knockout blow

The US Fed may have to hold interest rates near zero for a lot longer than it expected.

Bullion jumped as much as 8.1 per cent and futures trading volume was three times the average for this time of day.

Gold soars on safe-haven demand surge

Global markets buckled on demand for haven assets. $A pares loss. ASX futures up 31 points.

Strange things happen when advanced economies persist in a new normal of protracted low growth and worsening inequality.

Seven Brexit lessons, says El-Erian

As global markets convulse, the stunning outcome of the UK's referendum begs ever more questions.

British one pound sterling coins stand in front of a British Union flag, also known as a Union Jack, in this arranged ...

'Mayhem' as Australians rush to buy pounds

Australian currency shops are experiencing "mayhem" after Britain voted to leave the European Union and the Pound Sterling fell to its lowest point in more than 30 years.

Brexit: Australian impact

How does Britain voting to leave the European Union affect Australia? Courtesy ABC News 24.

Samantha Groth, 23, is dependent on her smartphone for work.

Why you can't live without your smartphone

Samantha Groth is one of 7.3 million Australians who just can't switch off.

How economists got 2015-16 wrong

There's an awful lot our panel got wrong about 2015-16.

Brexit: EU 'disappointed' but life goes on

European Union leaders say they are determined to maintain unity despite Britain's decision to leave the bloc.

What will the fallout be from Brexit?

The surprise victory for the âLeaveâ campaign in the UKâs Brexit referendum has seen a sharp selloff in markets. The big question now turns to what this means for the survival of the Eurozone as a whole and whether we will need to see coordinated global central bank action. (This video was produced in commercial partnership between Fairfax Media and IG Markets)