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As the cost of the scheme blows out, the government has announced the full discount will be retained for another year, after which it will only apply to EVs costing less than $75,000Get our breaking news email, free app or daily news podcastLabor has opted to retain its electric vehicle discount in full for another year, as Australians rush to buy EVs amid soaring fuel costs linked to the Iran war.But the budget next Tuesday will include a number of “sensible changes” that wind back the scale of support over the next three years, as the government acknowledges the need to deliver a “more financially sustainable” tax incentive for EVs amid ballooning costs of the scheme. Continue reading...

Analysis finds real wages fell 12% since 2019, with inequality widening in the US beyond global levelsCEO pay increased 20 times faster than worker pay around the world in 2025, according to a new analysis from Oxfam and the International Trade Union Confederation, the world’s largest trade union federation.When adjusted for inflation, global worker pay declined 12% between 2019 and 2025, the equivalent of 108 days of free work during that time period. In comparison, CEO compensation increased by 54% between 2019 and 2025. Continue reading...

Company reported $111.2bn in revenue in first earnings report after announcement of Cook’s pending departureApple blew past Wall Street expectations in its first earnings report since it announced CEO Tim Cook would be stepping down.Cook reported Apple’s “best March quarter ever” and “double-digit growth across every geographic segment”. He also noted “extraordinary demand for the iPhone17 lineup”. Continue reading...

ECB interest rate decision looms as growth across bloc stumbles and price rises gather pace, up from 2.6% in March and 1.9% in FebruaryBusiness live – latest updatesAir France-KLM cuts forecasts amid $2.4bn fuel bill riseInflation across the eurozone has soared to 3% this month as the Iran war drove up energy prices, and growth stumbles.Consumer prices rose by 3% a year across the single currency bloc in April, new data from statistics body eurostat showed on Thursday morning, up from 2.6% in the year to March, and 1.9% in February. Continue reading...

Energy company hails ‘exceptional’ contribution of oil trading operations as profits hit $3.2bn in the first quarterBusiness live – latest updatesBP’s quarterly profits have more than doubled amid a jump in oil and gas prices linked to the conflict in the Middle East.The energy company said on Tuesday that underlying profits for the first quarter were $3.2bn (£2.4bn), up from $1.38bn in the equivalent period a year ago and outstripping City forecasts of $2.67bn. Continue reading...

Exclusive: Report shows cost of first appointment rose $20 in one year, with steeper rises in Western Australia, South Australia and TasmaniaGet our breaking news email, free app or daily news podcastPatients are increasingly going without medically necessary dermatological care, the head of the Consumers Health Forum said, as new report reveals the rising cost of the specialty in Australia.Dermatology is expensive and getting pricier, with an average first visit now costing an adult patient without concessions $230 out-of-pocket, while follow-up appointments cost almost $190, the report from health directory Cleanbill found. Continue reading...

Annual March rate adds to pressure on household finances and follows warnings of slowdown to UK economyUK inflation rose by 3.3% in March amid the surge in fuel prices for motorists triggered by the Iran war.Figures from the Office for National Statistics (ONS) show the consumer prices index increased last month from 3% in February, adding to pressure on household finances already battered by a cost of living crisis. The rise matched City economists’s forecast of an increase to 3.3%. Continue reading...