Business, Economics and Finance

Sam Altman says he is returning to OpenAI after being fired by the company and joining Microsoft only days ago.

The Queensland Government has announced a $64 million cost-of-living subsidy for the Torres Strait, Cape and Gulf, but many residents are still in the dark about how it will work.

Australians are more dissatisfied with their economic situation than ever before, with young people particularly downbeat. Meanwhile, the ASX has ended modestly down on Wednesday. See how the day unfolded on our business news blog.

Submissions to a Senate inquiry outline what happened behind the scenes as Optus rushed to fix its recent outage.

According to new spending data from CommBank iQ, people under the age of 30 are cutting back on essentials such as food and fuel while older people are reportedly spending over the inflation rate on discretionary items.

Australia's new Antarctic icebreaker is one of the most advanced research vessels in the world, yet it has been dogged by controversy.

The nation's biggest bank reveals younger people are drastically cutting back to cope with higher rents and mortgage repayments, while older Australians are spending up on cruises and restaurants.

Ed Santow from the Human Technology Institute at UTS says Sam Altman's departure from OpenAI could change how generative AI is going to be designed.

The Australian Dollar continued to strengthen and the share market was buoyed by strong gains among mining companies.

John Hancock and Bianca Rinehart appear in WA's Supreme Court together for the second day as they continue their very public legal feud with their mother over mining royalties they claim their grandfather left for them.

BlueScope Steel hopes the redevelopment of a large parcel of industrial land will bring tens of thousands of workers back to the Port Kembla steelworks.

Mossman Sugar Mill, an operation north of Cairns employing around 150 workers and supplied by about 80 growers, is placed into voluntary administration.

Financial counsellor Kirsty Robson says it's a clear indication of mortgage stress as more Australians turn to credit cards and loans amid the cost of living crisis.

Young people are continuing to bear the brunt of rising interest rates and rent while older Australians are still splashing out, new spending data indicates.

SQM founder Louis Christopher says prices could fall in Australia's biggest property markets in 2024.

Melinda Cilento from the Committee for the Economic Development of Australia, says the conversation about migration shouldn't be limited to cost of living concerns, but needs to reflect long term economic benefits.

All the latest Finance news with Alan Kohler

Kelly Bayer Rosmarin has quit as Optus chief executive after a major cyber attack and massive outage that left 10 million customers and about 400,000 businesses in the dark.

Optus chief executive officer Kelly Bayer Rosmarin resigns in the wake of November 8's major outage, saying it is "in the best interests of Optus going forward".

Optus chief executive Kelly Bayer Rosmarin resigns following the telco's recent service outage, while the Australian share market finished higher after energy stocks rallied.

Australian hatmaker, Akubra has been sold to the mining magnates by the Keir family, who owned the company for 147 years.

If we drop the antagonism between younger Australians and Boomers, will it help to fixing our housing crisis, asks Gareth Hutchens.

Regional towns look to local government for a creative solution to bank closures.

As the population of the Japanese village of Nagoro shrank, many buildings in the town were left abandoned. Tsukimi Ayano is one of the few residents left and has come up with a novel way to populate it — with dolls.

After the only bank in town closed, the residents of Tom Price had to get creative to solve the issue of cash.