Michael Janda

Sydney

Business Editor at ABC News (Australia)

ABC business editor https://t.co/t3pT1dL03f. Sydney Uni political economy & UTS law graduate. Views expressed are my own, not the ABC's.

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Articles

GDP numbers argue for more RBA interest rate cuts as savings rise and spending flatlines

3 weeks ago | abc.net.au | Michael Janda

Australia is teetering on the brink of falling back into a per capita recession, but the bad news could soon be good news for borrowers. The latest National Accounts published by the ABS show Australia's economy inched forward by just 0.2 per cent over the first three months of this year. Over the year to March 31, economic activity increased by just 1.3 per cent. Over both the past quarter and the past year, Australia's population grew much faster than its economy.
CBA customers hit by transfer glitch, ASX finishes the day higher

4 weeks ago | abc.net.au | Michael Janda |Samuel Yang |Emilia Terzon |Nadia Daly |Adelaide Miller

The Australian share market has finished the day up 0.3% at 8,435 points with an almost even split of winners and losers. Overall, the market had 92 stocks in the red, 11 unchanged and 97 stocks gaining. When looking at the sectors, Utilities finished at the top; up 1.2%, followed by Consumer Non-Cyclicals; up 1%. The Energy sector finished at the bottom; down -1.4%, followed by Industrials; -0.8% and Technology; -0.77%.
Live market updates: Tariff appeal ruling fails to dent US share gains, but ASX set to dip

4 weeks ago | abc.net.au | Michael Janda

There's a general expectation, and concern, that Donald Trump's use of emergency powers to impose tariffs will remain in doubt all the way to a possible Supreme Court judgment. Markets generally hate uncertainty, and the president's policies and unorthodox ways of using (some would say abusing) executive powers to implement his plans certainly generates that in spades.
Small businesses are making building homes more expensive, CEDA report warns

1 month ago | abc.net.au | Michael Janda

Australian housing costs have surged, due in part to a shortage of homes relative to a rapidly increasing population. But what if you could build 12 per cent more homes each year than we are currently with no extra workers? Both the federal government's Productivity Commission and the Committee for Economic Development in Australia (CEDA) believe that is possible by improving efficiency in the construction sector.
Hospital operator in receivership

1 month ago | abc.net.au | Michael Janda

Australia's second largest operator of private hospitals has gone into receivership. Healthscope runs 37 facilities including the Prince of Wales in Sydney, Melbourne's Knox private hospital and several large hospitals in Brisbane, Darwin and Hobart. It's been owned by North American private equity group Brookfield since 2019 and has nearly twenty thousand staff. Australia's second largest operator of private hospitals has gone into receivership.
Private hospital operator Healthscope collapses into receivership

1 month ago | abc.net.au | Michael Janda

Healthscope's lenders have appointed corporate restructuring firm McGrathNicol as receivers for the financially troubled hospital operator. Healthscope says, while the parent companies are in receivership, the operational business, which runs the hospitals, is not. The Commonwealth Bank has provided an additional $100 million in loan funding to help keep the company's 37 hospitals running while the receivers seek buyers for them.
NSW to see largest power price rises as default rates revealed

1 month ago | abc.net.au | Daniel Ziffer |Michael Janda

Energy prices could lift anywhere from 0.5 per cent to 9.7 per cent in different parts of the national electricity grid, in figures released on Monday. The Australian Energy Regulator (AER) releases a default market offer (DMO) — essentially a price safety net — that limits what retailers can charge customers in New South Wales, south-east Queensland and South Australia.
More interest rate cuts likely as RBA confident it's beaten inflation, faces Trump tariff risks - ABC News

1 month ago | abc.net.au | Michael Janda

The Reserve Bank has cut interest rates amid greater confidence that the inflation battle is won, and will remain won, even if borrowing rates fall further from here.
US and China pause tariff war - ABC listen

1 month ago | abc.net.au | Michael Janda

There's been a breakthrough in the trade talks between the United States and China. The two countries have agreed to a 90-day pause in the implementation of tariffs on each other's imports. The world's two biggest economies had spent the weekend in Geneva trying to reach a deal.
Live updates: US shares continue gains on first Trump trade deal, ASX set for flat start

1 month ago | abc.net.au | Michael Janda

The Bank of England met and decided to cut interest rates by a quarter of a percentage point to 4.25%, as was typically expected, although there were a wide range of views expressed at the policy committee meeting. "The vote was a surprise, though, with five members voting for a 25bp cut, two voting for a 50bp cut, and two voting to hold," noted Westpac's Imre Speizer. "Guidance remained that additional easing should be "gradual and careful".