economic impact

Senator Tim Scott (R-S.C.), the current Chair of the Senate Banking Committee, has built a reputation as one of the strongest Republican champions for minority-owned businesses and underserved communities. For years, Scott worked across the aisle to permanently authorize and expand the reach of the Minority Business Development Agency (MBDA) — a federal initiative dating back to the Nixon administration that provides grants, technical assistance, and mentorship to minority entrepreneurs.

Fifty years of economic change have taken a heavy toll on some Americans—especially those with less education—who not only have been left behind but are also experiencing poorer health and shorter lives, according to new research from the University of Michigan.

The Australian share market has endured its most punishing day since the pandemic, with the benchmark S&P/ASX 200 shedding more than 4% on Monday, 7 April 2025. The dramatic plunge erased over $100 billion in value from Australian equities, dragging the index down to 7,343 points—its lowest level since December 2023.

In the heart of Perth, Glen Pendlebury spends his days painting mansions — the sprawling, glittering symbols of a booming city. Billionaires’ homes with $400,000 fishponds aren’t unusual for the house painter, who hauls his equipment across town in a daily commute that can stretch up to 90 minutes. Parking fines are a regular inconvenience. Public transport isn’t an option.

In the annals of baffling financial decisions, Donald Trump’s latest policy move may one day rival the most infamous. Historians may yet look past his double presidential victories and instead focus on a unique achievement: managing to bankrupt multiple casinos in the 1990s. A feat so improbable, it feels like the setup to a joke.

Australia’s largest retirement fund, AustralianSuper, has confirmed it was hit with over 600 attempted cyber attacks in the past month, with four of its members losing a combined total of $500,000 from their retirement savings.

In a high-stakes announcement amid the federal election campaign, Opposition Leader Peter Dutton has vowed to impose a gas reservation policy on the east coast if his party wins office. The measure is designed to force more gas into the domestic market and drive down prices—from over $14 per gigajoule to under $10 per gigajoule—by compelling exporters to divert an extra 50 to 100 petajoules annually for local use. Dutton outlined the plan during his budget reply speech, declaring it “just the start” of a broader intervention aimed at curbing rising energy costs.

A new quarterly report by consumer advocacy group Choice has revealed a notable divergence in supermarket pricing trends over the past year. While the cost of an average basket of 14 common grocery items at Coles and Aldi has fallen, shoppers at Woolworths are paying significantly more.