Stephanie Chalmers
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ABC business reporter. Views are my own, posts, RTs and likes do not represent the views of the ABC.
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Articles by Stephanie Chalmers
Markets live updates: Lush Cosmetics to leave all Westfield locations
business reporters Alex Turner-Cohen, Katie Silver and Stephanie Chalmers Oil prices continue to climb, with Brent crude approaching $US107 overnight. Meanwhile, cosmetic brand Lush will not be continuing the leases of all 10 of its stores in Westfield shopping centres. The ASX opened lower, despite futures trading pointing to a positive start to the session, following a mixed finish on Wall Street.
Oil prices climb, ASX poised to open higher after mixed lead
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Markets live updates: Oil prices climb, ASX poised to open higher after mixed lead
Australia may be good at innovation and invention (think wi-fi and over-the-horizon radar, along with a host of medical breakthroughs and advances), but as a nation we don't have a great track record in attracting investment to fund those brilliant ventures, writes our chief business correspondent Ian Verrender. Traditionally they've headed offshore.
Markets live updates: Oil prices climb, ASX poised to follow US stocks higher
business reporters Alex Turner-Cohen and Stephanie Chalmers Oil prices continue to climb, with Brent crude approaching $US107 overnight. The ASX looks set for another positive start to the session, following gains for US stocks on Wall Street. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice. [LIVE EMBED BLOG]
Markets live updates: ABC names David Chau as new finance presenter on 7pm news, ASX rises
ASX 200: +0.3% at 8,741 points (live values below) ASX 200 (Friday): +0.6% to 8,717 points Australian dollar: flat at 69.84 US cents Wall Street (Friday): S&P 500 +0.6%, Dow +0.8%, Nasdaq +0.6% Europe (Friday): Dax +1.1%, FTSE +1.1%, Eurostoxx50 +0.8% Spot gold: flat at $US4,194/ounce Oil: Brent futures +0.7% to $US105.50/barrel, WTI futures +0.7% to $U92.46/barrel Iron ore (Friday): -0.7% to $US90.60/tonne Copper (LME): -1.3% to $US14,295tonne Bitcoin: flat at $US83,637 10-year bonds: US...
Program: Meta is back in court
This content was transcribed automatically and may contain errors. Read more on how the ABC is automatically creating audio transcripts. Speaker 1: ABC Listen, podcasts, radio, news, music and more. Speaker 2: Hi, it's Sam Hawley from ABC News Daily, the podcast that brings you one big story affecting your world each weekday in just 15 minutes.
Program: What the CBA results tell us about the economy
Commonwealth Bank earnings are in – and in the billions – an increase from last year’s results that exceeds expectations for the banking behemoth. But what to make of the dip in mortgage applications that CBA and other banks are reporting? And how are the banks, and the RBA, looking at persistently weak productivity in the Australian economy? Steph Chalmers and ABC Business Correspondent David Taylor break it all down on ABC Business Daily.
Commonwealth Bank home loan applications fall 15pc since May, profit up to $10.9b
business reporters David Chau and Stephanie Chalmers Australia's largest home lender, the Commonwealth Bank, has seen home loan applications tumble 15 per cent since May, after three interest rate hikes and the federal budget's tax changes. CBA's net profit rose 7 per cent over the last financial year, to $10.9 billion.
RBA live updates: Interest rates on hold as Reserve Bank updates economic forecasts
business reporters Adelaide Miller and Stephanie Chalmers The Reserve Bank has kept interest rates on hold at its August meeting, after three rate hikes earlier this year. The central bank has also released its updated economic forecasts, including the inflation, growth and unemployment outlooks. Follow the RBA decision, plus the day's financial news and insights, from our specialist business reporters in our live blog. Disclaimer: This blog is not intended as investment advice. [LIVE EMBED BLOG]
RBA live updates: Interest rates expected to remain on hold, Reserve Bank to update economic forecasts
business reporters Adelaide Miller and Stephanie Chalmers The Reserve Bank is expected to keep interest rates on hold when its monetary policy board wraps up its meeting today. After three rate hikes earlier this year, financial markets are pointing to the cash rate remaining steady at 4.35 per cent. The central bank will also release its updated economic forecasts, including the inflation, growth and unemployment outlooks.
Program: Will the RBA hold rates?
The RBA’s interest rate setting board kicks off its meeting today, to decide which way rates will go. What’s behind the widely held expectations that the central bank will hold rates steady when it announces its decision tomorrow? And oil prices continue to fluctuate as uncertainty persists in the Strait of Hormuz. But what explains the gap between the price of Brent crude and petrol prices throughout the world? And what could millions of Australians be missing about their super funds?
Program: What South Korea's Kospi crash tells us about tech
It's been a wild couple of weeks for South Korean shares with the stock market collapsing and wiping hundreds of billions of dollars off the value of Seoul's Kospi. The major market index has since recovered a little, but it has big questions about the global tech boom. And the downfall of a high-profile hospitality property group owned by entrepreneur Jon Adgemis is shedding some light onto how private credits firms work in the economy.
Program: Fuel spikes, property slumps
With the fuel excise cut officially over are petrol prices about to skyrocket at the bowser? And fresh housing data shows that the property price slump seems to be spreading. Is Australia’s property market headed for a correction? And what might this mean for the RBA – just a week away from its decision to hike or hold rates? Steph Chalmers and ABC News Business Editor Michael Janda break it all down on ABC Business Daily. You can check out the ABC’s Fuel Tracker that Steph mentions, here.
Markets live updates: ASX 200 rallies as chances of an August rate hike drop, AI stocks tumble in Asia
business editor Michael Janda, business reporters Emilia Terzon, Stephanie Chalmers and Yiying Li The Australian share market rallies after inflation eased more than expected last month, cooling bets of an August interest rate hike. Asian stock markets are under pressure as an AI rout deepens, with South Korea's Kospi tumbling. Follow the latest news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice. [LIVE EMBED BLOG]
Program: Are you paying too much interest on your mortgage?
Offset accounts promise savings perks to mortgage borrowers across the country by lowering interest payments. But financial regulator ASIC says that many offset account owners have been paying more interest than they should. So how have banks responded to the issue? And how does this affect trust in the banking sector? And with today’s fresh inflation figures showing an easing of inflation, does this mean that the RBA’s rate hikes have been working?
Markets live updates: ASX jumps, oil slumps after US and Iran pause missile attacks
ASX 200: +1.4% to 8,894 points (live values below) ASX 200 (Friday): -0.8% to 8,772 points Australian dollar: +0.3% to 70.02 US cents Asia: Nikkei +0.3%, Hang Seng +0.8%, Shanghai flat, Kospi +0.8% Wall Street (Friday): S&P 500 +0.05%, Dow +0.5% Nasdaq -0.6% Europe (Friday): Dax +1.4%, FTSE +0.9%, Eurostoxx +0.8% Spot gold: +1.0% to $US4,092/ounce Oil: Brent futures -5.3% to $US91.65/barrel, WTI futures -5.4% to $US84.41/barrel Iron ore (Friday): -0.1% to $US98.10/tonne Copper (LME): -1.8% to...
Most Australians don't understand how interest rates affect inflation, RBA survey finds
The Reserve Bank is concerned that too many Australians have little idea what the central bank is trying to achieve with interest rates, which it says could be making its job harder. A survey of 9,000 Australians shows about 60 per cent of respondents thought they had a good understanding of how the Australian economy works.
Program: What Australians get wrong about interest rates
A brand-new bulletin from the Reserve Bank is out today, capturing how Australians experience and understand the economy. And while public awareness for the RBA is high, survey results seem to suggest that people don’t have a great handle on how inflation is affected by interest rates. So what problem does this present for the RBA – whose one blunt tool is to toggle rates?
Markets live: Oil prices surge after US launches strikes on Iran, ASX to slip after Wall Street's tech sell-off
At this stage, we're still trying to determine how widespread this Telstra outage is. Here's what we know so far: Public transport in Canberra, as well as regional NSW and regional Victoria, have been affected. Taxi passengers are reporting they are unable to complete payments. Customers of Boost, Aldi, Tangerine, Belong and Everyday Mobile are also reporting outages. These mobile providers operate on Telstra's network. Have you been affected by the Telstra outage?
Richard White resigns as WiseTech chair but will remain on board and in executive role
Billionaire businessman Richard White is stepping down a chair of WiseTech Global but will remain on the board and with the company. Mr White, who co-founded the logistics software firm, cited recent media attention as his reason for stepping down, calling it an "unnecessary distraction from the strength of WiseTech's business".
Markets live updates: WiseTech shares rally as Richard White to step down as chair, but remain on board
In a statement to the stock exchange, the tech company says it is appointing a new independent chair, Raelene Murphy "with immediate effect". Co-founder Richard White will remain on the board as an executive director and as 'Chief Innovation Officer'. In the statement, Mr White referred to "recent personal media attention... creating an unnecessary distraction from the strength of the WiseTech business".
Program: Property down, rent up
The monthly property data we've been waiting for is here. And the numbers tell us that national property prices are, in fact, falling. Meanwhile, rents are rising at an extraordinary clip - what part does this play in the affordability picture? And in the wake of a wave of scandals at the big four consulting firms, the government has proposed potential regulations to respond to an industry occupied by only a few big players. So what sorts of things could change?
ASX dips, while AI-buying frenzy drives Dow Jones to record high — as it happened
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ASX dips, while AI-buying frenzy drives Dow Jones to record high
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Markets live: ASX trades down, Wall Street jumps as Google and AI-related stocks rebound
Have you been getting notifications from your telco about this change on text messages coming tomorrow? (Telstra/ABC News) That's because from July 1, new rules come into play about scammer texts and how they're identified. The changes will impact any business, charity or organisation that sents texts to a database. If they are not registered with a telecommunication company, text messages to customers will likely be put in an "unverified" folder.
Sydney, Melbourne tipped to lead housing price drops as market cools
Up to $122,000 could be wiped off the value of the typical Sydney house over the next year, while Melbourne's median house price could drop below $1 million, Domain forecasts. The real estate platform has published housing price forecasts for the next financial year and has tipped substantial falls for the Sydney and Melbourne markets, with prices in Canberra also facing downward pressure.
Program: An inflationary mixed bag
The latest CPI numbers showed headline inflation easing thanks in part to falls in fuel prices. But the trimmed figures - which helps to measure underlying inflation came in hotter than the previous month. So where does this leave the RBA on the question of 'where to next' on interest rates? Meanwhile - there’s been a budget deal with Labor and the Greens. What do you need to know about it? And why are some Australians noticing a spike in their electricity bills?
Headline inflation eases more than expected but RBA rate hike risk remains
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Inflation down as ASX rises despite Wall Street's tech sell-off
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Headline inflation eases more than expected but RBA rate-hike risk remains, ASX 200 rises — as it happened
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'Confusopoly' blamed as power bill messages befuddle consumers
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RBA live updates: Reserve Bank tipped to keep interest rates on hold, Dow closes at record as US-Iran deal buoys stocks
The RBA board members will be feeling a double-sized dose of relief today when they meet to thrash out our future interest rate movements, writes chief business correspondent Ian Verrender. Within the space of a few weeks, the picture has changed dramatically. The pressure to keep pushing rates ever higher has suddenly dissipated. There's a near-universal consensus that rates will remain on hold this year, with possible cuts next year.
Program: As markets rally, where will rates go?
The Australian stock market has surged after US President Donald Trump declared that oil shipments will soon start flowing freely through the strait of Hormuz. The announcement comes as Australia's Reserve Bank starts its deliberations about what to do with interest rates ahead of tomorrow afternoon's decision. So does this Hormuz news lower the chance of further rate hikes? Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily.
Program: Woolworths to offshore office jobs
Australian grocery giant Woolworths is expected to ship hundreds of corporate jobs offshore. Barbeques Galore says it's going to close up shop with hundreds of workers facing redundancy. What to make of these retail shakeups? And why is Wesfarmers positive about the transformational power of AI? Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily. Catch up on today's episode of Fuelcast here.
Program: Are we in an economic slowdown?
New data shows Australia’s economy was already slowing the first three months of the year, before the full impact of a series of interest rate hikes and the war in the Middle East washed through. So what does this slowdown mean for the outlook for interest rates? And what will the Fair Work Commission's wage hike mean for Australia's workers? Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily. Catch up on today's Fuelcast here.
Markets live updates: ASX 200 falls, oil price rises, ASX Ltd shares tumble on trading update
Australia is set to plant a reduced winter crop this year, as the nation's grain growers contend with mixed weather conditions and the impacts of significantly higher farm input costs, Rabobank says in its "2026/27 Australian Winter Crop Forecast". The specialist agribusiness bank estimates Australia's winter cropping area will come in at 23.1 million hectares for the season, down 8% on last year and 4.3% below the five-year average. It's wheat.
ASX 200 rises after Dow Jones closes at record high, Brent crude oil under $US100 a barrel
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Microsoft Cares About Your Privacy ASX jumps more than 1 per cent in rebound rally — as it happened
business reporters Daniel Ziffer, Gareth Hutchens and Stephanie Chalmers The local share market rebounded from Monday's heavy selling, rising 1.2 per cent on Tuesday, as shares in Tuas made back some of their heavy losses. Donald Trump flagged "serious negotiations" among Middle East nations. However, US stock market futures point to potential falls on Wall Street tonight.
Program: A small business revolt on CGT
AI-generated Anthony Albanese memes. Startup founders in revolt. And a growing fight over whether the government’s capital gains tax changes will hurt the very businesses it says it wants to back. The Treasurer Jim Chalmers insists there is plenty of misinformation flying around. But with Australia’s startup sector now worth hundreds of billions of dollars, the stakes are real. So what is changing, who gets hit, and who might actually come out ahead?
ASX falls after Wall Street drop, Australian dollar weaker, oil rising again — as it happened
business reporters Jason Dasey, Jasper Wells, Alison Branley and Stephanie Chalmers The ASX 200 finished the first session of the new trading week with a fall of 1.45 per cent, continuing its downward trend this month. Meanwhile, uncertainty over the Iran war has sent Brent crude oil above $110 a barrel. Look back on how the session played out, plus the day's financial news and insights from our specialist business reporters on our live blog.
Markets live updates: ASX to open slightly down as markets continue to digest federal budget
Uber is to set up its first data centre in India in partnership with the Adani Group. Uber CEO Dara Khosrowshahi tweeted the announcement on his official X handle after he met Adani Group Chairman Gautam Adani in Ahmedabad on Wednesday and discussed strengthening their partnership. "Ready later this year, this investment will help us build at scale – from India, for the world," Khosrowshahi tweeted on his official X account.
Economists divided on extent of property price hit from budget tax overhaul
business reporters Jasper Wells, Stephanie Chalmers and business editor Michael Janda Some high-profile economists say the budget could be underestimating the hit to property prices from the changes aimed at reducing intergenerational housing inequality. The government used the 2026 budget toreduce tax breaks for investing in existing property going forward. The tax overhaul included changes to the way capital gains are taxed, as well as limiting negative gearing to new housing.
Commonwealth Bank shares post biggest one-day fall as trading update disappoints, budget weighs on banks
business reporters Jason Dasey, Yiying Li, Stephanie Chalmers and Daniel Ziffer Commonwealth Bank shares have suffered their largest one-day fall on record, closing 10.4 per cent lower today. The previous worst day for Australia's biggest bank was in March 2020, when the stock dropped 10 per cent in the early days of the pandemic. CBA's major peers also came under pressure on the ASX, with Westpac (-2.8pc), ANZ (-1.6pc) and NAB (-1.5pc) shares all dropping.
Program: Who will benefit from the budget?
It’s the day after the big budget release and there’s a certain buzz rippling across the country. Treasurer Jim Chalmers claims this is the most ambitious budget in decades and says it will make things fairer for young Australians. But what exactly will the budget mean for business, the economy, and you? Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily. In case you missed it, check out our hot-off-the-press budget episode from last night.
ASX lower after mixed night on Wall Street following inflation spike, oil prices volatile
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