In its most recent forecast<\/a>, the RBA had expected economic growth to pick up to 2.3% by the end of 2025.<\/p>\nInstead, it came in at 2.6%.<\/p>\n
With inflation picking up again and the economy running hotter than forecast, it could add to the case for another interest rate hike.<\/p>\n
However, there has been little reaction yet in the Aussie dollar or on the ASX.<\/p>\n
22m agoWed 4 Mar 2026 at 12:36amGDP per capita up for fourth straight quarter: ABS![\"Stephanie](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/07\/lcimg-38467754-a5e6-4c2e-97bd-ca15b178ac9c.jpeg\")
<\/p>\n
“There was broad-based economic growth in the quarter, with rises observed in a large majority of industries,” said ABS head of national accounts Grace Kim.<\/p>\n
“Public and private demand each contributed 0.3 percentage points to GDP growth.<\/p>\n
“GDP per capita increased for the fourth consecutive quarter and is now 0.9 per cent higher than a year ago, the highest through the year growth since December quarter 2022.”<\/p>\n
26m agoWed 4 Mar 2026 at 12:31amEconomic growth picks up at end of 2025<\/p>\n
Australia’s gross domestic product (GDP) rose 0.8% in the December quarter, according to the ABS.<\/p>\n
That takes annual growth to 2.6% \u2014 much stronger than economists had forecast.<\/p>\n
42m agoWed 4 Mar 2026 at 12:16amInvestors cheer the end of Kyle and Jackie O show, shares of ARN Media rebound![\"David](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/07\/lcimg-b66ce72d-29b3-4a93-9314-8dc821cb619d.jpeg\")
<\/p>\n
After 25 years, the highly lucrative radio partnership between Jackie “O” Henderson and her controversial co-host Kyle Sandilands is finally over.<\/p>\n
Henderson quit her hit KIIS FM radio show after her working relationship with Sandilands imploded spectacularly during an on-air argument on February 20.<\/p>\n
But it appears investors are not feeling sad at all about ARN Media’s decision to take The Kyle and Jackie O Show off-air “effective immediately”.<\/p>\n
ARN is the owner of the KIIS FM radio station.<\/p>\n
![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/lcimg-d107125c-daeb-44a4-a685-9387c3ba0b08.jpeg\")
The share price of ARN Media, the company which owns KIIS FM. (LSEG)Share price reaction<\/p>\n
Shares in ARN\u00a0jumped 4.35% to about 35 cents around 11am AEDT.<\/p>\n
Despite their controversies, the former co-hosts were signed onto a 10-year contract worth a reported $200 million with ARN Media.<\/p>\n
The duo were meant to remain with the network until the end of 2034, so the contract has ended eight years early\u00a0\u2014 which will save the company a lot of money.<\/p>\n
ARN reported its full-year results last week, and they were abysmal.<\/p>\n
What do its results show?<\/p>\n
The company recorded a statutory annual loss\u00a0of $34.7 million (a huge downgrade from its $3.8 million profit the year before).<\/p>\n
Its revenue fell 10% to $285 million, while its underlying EBITDA (earnings before interest, tax, depreciation and amortisation) dropped 23% to $47.5 million.<\/p>\n
On top of that, the value of its assets is a negative number. ARN’s net tangible assets are -26 cents per share\u00a0(worse than the previous year’s -10 cents per share).<\/p>\n
This means the company’s liabilities (ie. debt) exceeds the value of the assets that it owns.<\/p>\n
In its results announcement, ARN blamed the situation on a “challenging advertising market and changing advertiser expectations”.<\/p>\n
The company’s market value has shrunk to just over $100 million (very small compared to many on the ASX 200 and All Ords).<\/p>\n
That’s after its share price plunged by more than 40% over the past year.<\/p>\n
1h agoTue 3 Mar 2026 at 11:44pmGold mining stocks plummet as ASX losses worsen<\/p>\n
We’re almost one hour into the trading day, and the share market’s losses have worsened.<\/p>\n
The ASX 200 is now down 1.7% to 8,920 points.<\/p>\n
Another sign of negativity in the markets is that only 37 out of 200 stocks are\u00a0trading higher. So most of them are down, by far!<\/p>\n
Today’s best performers include healthcare stock Mesoblast, fast food chain Guzman & Gomez and companies in the tech sector, including Life360, Xero and Megaport.<\/p>\n
On the flip side, many of today’s worst performers are gold miners such as\u00a0Westgold, Newmont, Evolution Mining, Northern Star and Resolute Mining.<\/p>\n
This follows a 4% drop in the price of gold overnight.<\/p>\n
It’s likely a bit of profit-taking as the precious metal’s spot price was hovering close to record levels.<\/p>\n
Gold is still super-expensive, though, trading above $US5,120 per troy ounce.<\/p>\n
In Australian dollars, that’s $7,275 for just 31 grams (around the weight of a “fun-sized” chocolate bar).<\/p>\n
![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/lcimg-7e5c989c-5118-4e51-9663-0c9a3a121dfa.jpeg\")
Many of today’s worst performing stocks are gold miners. (LSEG)1h agoTue 3 Mar 2026 at 11:27pmMaterials and healthcare sectors drive ASX 200 sharply lower<\/p>\n
To highlight how gloomy the Australian share market looks, consider how few sectors are trading higher.<\/p>\n
Just two \u2014 healthcare and technology (though just barely).<\/p>\n
Most sectors are down, with materials (-3.6%) and energy (-1.4%) among the worst performers.<\/p>\n
That is being driven by a sharp fall in the value of mining and oil\u00a0 and gas stocks this morning.<\/p>\n
![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/lcimg-209a3a72-9648-4382-b06f-5436bcf17935.jpeg\")
Almost every sector on the ASX is down today. (LSEG)1h agoTue 3 Mar 2026 at 11:14pmASX tumbles 1.4pc in opening trade<\/p>\n
The Australian share market is recording fairly significant losses in the first 15 minutes of trading.<\/p>\n
The ASX 200 has dropped 1.4% to 8,948 points, while the broader All Ordinaries index is down by a similar percentage to 9,165 points.<\/p>\n
I’ll have more updates for you shortly!<\/p>\n
1h agoTue 3 Mar 2026 at 11:03pm<\/p>\n
Mark Carney in Sydney to witness signing of Australia-Canada superannuation agreement<\/p>\n
I\u2019m down here at The Rocks in Sydney, where the Canadian Prime Minister Mark Carney is witnessing the signing of a partnership between Australian industry superannuation funds and Canadian pension funds.<\/p>\n
IFM Investors chair Cath Bowtell says the two pension systems share many features, including investments in critical infrastructure and sophisticated, large private investors.<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/lcimg-0390c101-b310-433d-a531-163589382bb5.jpeg\")
Canada’s Mark Carney (centre) with pension fund executives. (Stephanie Chalmers)2h agoTue 3 Mar 2026 at 10:54pmCanadian PM announces Australian-Canadian superannuation partnership<\/p>\n
The largest Australian industry super funds are signing a deal with their Canadian counterparts, pledging to boost investment in each other\u2019s countries.<\/p>\n
AustralianSuper, Australian Retirement Trust, Aware, CareSuper, CBUS, HESTA, Hostplus and Rest are the Australian signatories, alongside their asset manager IFM Investors.<\/p>\n
Super fund executives, including CBUS chair Wayne Swan, are present at the announcement in Sydney being made by Canadian Prime Minister Mark Carney, Canada’s finance minister, Francois-Philippe Champagne, and Australian Assistant Treasurer Daniel Mulino.<\/p>\n
![\"Three](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/lcimg-c21065c4-43e1-4c94-802c-b65883b268b1.jpeg\")
Canadian Prime Minister Mark Carney (centre) in Sydney. (Stephanie Chalmers)<\/p>\n
\u201cAs part of the landmark initiative, Australian and Canadian pension funds will cooperate to unlock greater pension capital investment in both countries,\u201d the funds said in a statement.<\/p>\n
Canada has the world\u2019s second-largest pension system, while Australia\u2019s ranks fourth.<\/p>\n
The memorandum of understanding between the Australian industry super funds and Canadian pension funds is aimed at \u201cfacilitating dialogue with governments on policy barriers and associated solutions to improve the business environment for investment in each jurisdiction\u201d and unlocking \u201cgreater long-term capital for private investment\u201d.<\/p>\n
2h agoTue 3 Mar 2026 at 10:50pmAI will create new jobs if we use it to improve productivity, says NEXTDC’s chief executive<\/p>\n
In the past few weeks, shares of software companies worldwide\u00a0 (including Adobe, Atlassian and ServiceNow) have been plummeting.<\/p>\n
It’s mainly being driven by fears artificial intelligence (AI) is now so advanced that it could ultimately make those companies’ products obsolete.<\/p>\n
That has also led to massive job losses in the tech sector, with WiseTech Global and Block announcing last week they’ll sack thousands of workers.<\/p>\n
But the chief executive of data centre company NEXTDC, Craig Scroggie, says AI could create new jobs.<\/p>\n
He sat down with The Business host Kirsten Aiken to discuss the future of AI, raising capital for data centres, and the enormous amount of energy and water required to power them.<\/p>\n
Loading…2h agoTue 3 Mar 2026 at 10:28pmABS to provide GDP update on Australian economy<\/p>\n
A lot of today’s market action will be driven by what’s happening with Iran and the wider Middle East \u2014 and any headlines of further escalation.<\/p>\n
In local news, we’ll also get an update from the Bureau of Statistics (ABS) on how the Australian economy performed in the last three months of 2025, as measured by GDP (gross domestic product).<\/p>\n
So it’s backward-looking data which predates the war. Still, it will be useful as a snapshot of how things looked at a particular point in time.<\/p>\n
Australia’s economy is likely to have grown 0.6% in the December quarter, according to economists polled by Reuters, which would take the annual growth rate to 2.2%.<\/p>\n
This would be higher than the 0.4% growth recorded in the September quarter (and the 2.1% increase in the year to September).<\/p>\n
The GDP figures will be released at 11:30am AEDT, and we’ll let you know the result as soon as it’s out!<\/p>\n
2h agoTue 3 Mar 2026 at 10:09pmMiddle East war could lead to higher inflation, complicating the RBA’s decision on whether to lift interest rates<\/p>\n
With Iran attacking other nations’ energy infrastructure, it’s now clear the Middle East war has the potential for far-reaching global consequences.<\/p>\n
While speaking at a business summit in Sydney, Reserve Bank governor Michele Bullock addressed concerns the conflict could lead to more expensive petrol, higher inflation and another interest rate hike.<\/p>\n
Meanwhile, Iran has threatened to attack ships crossing the Strait of Hormuz,\u00a0and one of the world’s biggest gas exporters, Qatar, has shut down LNG production after strikes against two facilities.<\/p>\n
For more, here’s a handy summary by David Taylor:<\/p>\n
Loading…<\/p>\n
3h agoTue 3 Mar 2026 at 9:55pm<\/p>\n
Markets recap: Alan Kohler’s finance report<\/p>\n
\u00a0In case you missed it, here’s Alan Kohler’s finance report from last night’s 7pm News bulletin.<\/p>\n
Among other things, Alan discussed European gas prices, which surged 54% at one stage before settling 39% higher.<\/p>\n
That was after the world’s largest gas plant, in Qatar, had to shut down after it was struck by an Iranian drone.<\/p>\n
He also has some interesting graphs from the Reserve Bank showing how Australia’s economy is faring compared with other countries.<\/p>\n
Loading…3h agoTue 3 Mar 2026 at 9:49pmEuropean markets suffer worst single-day drop since ‘Liberation Day’ tariffs<\/p>\n
And before I forget, let’s take a look at European share markets, which were the hardest hit overnight:<\/p>\n
The pan-European STOXX 600 index closed 3.1% lower (down 5% from its record high last Friday).
Spain’s finance-heavy benchmark IBEX plunged 4.6% to its lowest since mid-December.Germany’s export-heavy DAX dropped 3.4% to a three-month low.
Britain’s FTSE fell 2.8%.<\/p>\n
Many of these European stock markets recorded their sharpest one-day falls since April, when Donald Trump unveiled his “Liberation Day” tariffs against most of the world’s nations.<\/p>\n
“Any ceasefire for now looks like a remote possibility as Iran appears content with damaging Western interests in the Middle East … This is driving markets lower today as the threat of a protracted conflict becomes more realistic,” said Lindsay James, investment strategist at Quilter.<\/p>\n
– with Reuters<\/p>\n
3h agoTue 3 Mar 2026 at 9:36pmAussie dollar sinks to 70.36 US cents, down against major currencies<\/p>\n
The Australian dollar isn’t doing so well this morning.<\/p>\n
In fact, it often performs badly when there’s a “risk-off” mood across global markets, for instance, during the global financial crisis, COVID-19 pandemic, and now the US and Israel’s war with Iran (which is spreading across the Middle East).<\/p>\n
As you can see in the chart below, it is down against many of the world’s major currencies.<\/p>\n
It is trading at 70.36 US cents, after falling 0.8% against the greenback. But that’s mainly due to a rebound in the US dollar index.<\/p>\n
However, it has risen against the Japanese yen and New Zealand dollar. In fact, the Aussie dollar still remains near its highest level in years against those two currencies.<\/p>\n
And while they’re not currencies, there have also been sharp falls in the price of bitcoin and gold.<\/p>\n
![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/lcimg-02cb54fd-a573-40ed-afc9-4899d491e047.png\")
The Australian dollar is weaker against most currencies. (LSEG)3h agoTue 3 Mar 2026 at 9:25pmWall Street finishes trading lower \u2014 but it was a lot worse a few hours ago<\/p>\n
It’s past 4pm in New York now, which means Wall Street has finished trading.<\/p>\n
Investors are still feeling quite anxious, as you can see from these closing figures:<\/p>\n
Dow Jones: -0.8% to 48,501 pointsS&P 500: -0.9% to 6,817 pointsNasdaq Composite: -1% to 22,517 points<\/p>\n
It’s a huge improvement considering they were down by about 2.5% at their “peak pessimism” point \u2014 after Iran declared the Strait of Hormuz was closed and threatened to “burn any ship” trying to pass through.<\/p>\n
That massive recovery happened after Donald Trump pledged the US Navy would escort tankers through the strait if necessary.<\/p>\n
So that announcement provided a lot of reassurance, but clearly not enough given the US markets still finished lower.<\/p>\n
And in case you need a refresher on why the strait is so important (and why blocking it will lead to higher oil prices and inflation), here’s a helpful explainer for you:<\/p>\n
3h agoTue 3 Mar 2026 at 8:59pmTrump’s pledge to protect oil tankers in the Gulf sparks massive recovery on Wall Street<\/p>\n
Wall Street is on track to end its day lower, but it could’ve been a lot worse!<\/p>\n
At their worst point\u00a0during the trading session, the Dow Jones was down as much as 2.6%, while the S&P 500 and Nasdaq Composite\u00a0were down by up to 2.5% and 2.7%, respectively.<\/p>\n
But things improved dramatically after US President Donald Trump made an announcement on his Truth Social account (as he often does).<\/p>\n
Mr Trump said the US Navy is prepared to start escorting oil and gas tankers through the Strait of Hormuz in an attempt to counter rising energy prices resulting from the escalating war in the Middle East.<\/p>\n
He also said the government would provide \u201cat a very reasonable price\u201d political risk insurance for vessels using the key shipping lane.<\/p>\n
\u201cNo matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,\u201d the post stated.\u00a0<\/p>\n
Donald Trump said the navy could begin escorting tankers \u201cas soon as possible\u201d.<\/p>\n
US markets breathed a sigh of relief after the announcement.<\/p>\n
That led to a massive turnaround as the Dow, S&P and Nasdaq cut their losses to 0.9%, 1% and 1.1%, respectively.<\/p>\n
Not a great day for markets, but still better than it was hours ago!<\/p>\n
You can read more about it in this article by my colleague David Taylor:<\/p>\n
4h agoTue 3 Mar 2026 at 8:46pm<\/p>\n
Market snapshotASX 200 (Tuesday close): -1.3% to 9,077 pointsASX futures: -1.1% to 8,937 pointsAustralian dollar: -0.7% to 70.45 US centsWall Street: Dow Jones (-0.5%), S&P 500 (-0.7%), Nasdaq (-0.8%)Europe: Stoxx 600 (-3.1%), DAX (-3.4%), FTSE (-2.8%)Gold: -3.9% to $US5,120\/ounce
Silver: -7% to $US83.16\/ounceOil (Brent crude): +2.7% to $US79.87\/barrelIron ore: -1.1% to $US98.20\/tonneBitcoin: -1.4% to $US68,481<\/p>\n
\u00a0Price current around 7:30am AEDT<\/p>\n
4h agoTue 3 Mar 2026 at 8:46pmGold and Aussie dollar tumble, while the ASX is set to fall sharply … again<\/p>\n
Good morning, and welcome to the ABC’s finance blog! I’ll be guiding you through the latest market action for the next few hours.<\/p>\n
At this stage, it looks like another messy day for the markets.<\/p>\n
That’s reasonable considering the Middle East war is likely to drag on longer than the “four weeks” Donald Trump estimated, oil prices are surging, and inflation could rise as a consequence.<\/p>\n
ASX futures are down 1.1% so far, which suggests the Australian share market is set to drop when trading opens in a few hours (adding to yesterday’s steep fall of 1.3%).<\/p>\n
The Australian dollar isn’t feeling much love either, having slipped 0.6% to 70.48 US cents\u00a0\u2014 mainly due to the US dollar rebounding on safe-haven demand.<\/p>\n
Even\u00a0gold is\u00a0being sold off. Its spot price is down 3.8% to $US5,124 an ounce.<\/p>\n
So there are not many places to hide as this war-driven market sell-down continues.<\/p>\n
As the conflict widens, perhaps the best way to measure fear is the price of Brent crude, which jumped 3.2% to $US80.22 a barrel.<\/p>\n
Since Friday, when the US and Iran were apparently making “significant progress” according to the mediator in their nuclear talks, the oil price has surged 10%.<\/p>\n
That’s not such a big increase when you compare it with all the doomsday scenarios (i.e., oil soaring well above $US100 a barrel) that various market analysts had been predicting.<\/p>\n
Anyway, grab a coffee, tea (or whatever you like drinking).<\/p>\n
I’ll have more updates for you shortly!<\/p>\n","protected":false},"excerpt":{"rendered":"1h agoTue 3 Mar 2026 at 11:16pmMarket snapshotASX 200: -1.4% to 8,943 pointsAustralian dollar: +0.2% to 70.4 US…\n","protected":false},"author":2,"featured_media":517055,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2001,64,29217,63,99,2003,2005,5284,171,2007,19136,2008,5463,29218,1491],"class_list":["post-517054","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-asx","tag-au","tag-aud","tag-australia","tag-business","tag-dollar","tag-dow-jones","tag-gold","tag-markets","tag-nasdaq","tag-oil","tag-sp","tag-sp-500","tag-usd","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/517054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=517054"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/517054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/517055"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=517054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=517054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=517054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}