ABC Business Daily

Job cuts have come for Qantas - and artificial intelligence is being blamed.

In an all-staff email Qantas Group CEO Vanessa Hudson described the decision to cut hundreds of jobs "hard news for some" -  and that the national carrier is modernising aging technology systems.

Is this simply another round of corporate outsourcing - or are we getting an early look at how AI is going to reshape white-collar work across Australia as a whole? 

Carrington Clarke and ABC's Chief Business Correspondent Ian Verrender break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Is David Jones exposing a wider problem in Australian retail?

The major department store has survived two world wars, the Great Depression and almost 190 Christmas shopping seasons. But last week, we learned it is fighting for survival.

And it’s not just department stores. Retailers including JB Hi-Fi and Bunnings are warning of slower sales, weaker consumption, higher costs and changing spending behaviour.

So is this just a spending slump - or the start of a much bigger retail reckoning?

Lin Lin and Tom Kierath, Consumer Research Principal at Barrenjoey Markets break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Is a Chinese spy just “one phone call away from the White House”?

Nvidia, the company at the centre of the global AI build-out, has launched an independent investigation after reports its CEO Jensen Huang was allegedly targeted by a Chinese intelligence operation.

What could the allegations - and the investigation now underway - mean for one of the world’s most valuable companies?

And the backlash against data centre developments is spreading beyond the US, with a major Sydney proposal scrapped after community opposition.

Carrington Clarke and ABC Business reporter Stephanie Chalmers break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Almost $9 billion worth of crypto has been stolen from the world's largest cryptocurrency exchange platform Binance.

It's believed to be the biggest crypto heist in history.

The attack involved fake job interviews, malware and compromised work devices, with investigators pointing to North Korea - an allegation Pyongyang currently denies. Billions have been frozen, but billions more remain in circulation.

So how vulnerable is the crypto industry to this kind of attack? And if Binance is covering customer losses, has is, and others like it, avoided a crisis - or simply hidden the scale of a major problem?

Investigative journalist and author of The Lazarus Heist Geoff White is an expert on the subject. In this episode of ABC Business Daily, he tells Carrington Clarke why crypto remains more vulnerable than traditional banking, why holders should remember that “you are your own security”, and how hacking could become an increasingly important source of funding for North Korea.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

David Jones has been placed into receivership after months of financial pressure, unpaid rent and a breakdown in negotiations with major landlord Scentre Group.

The 188-year-old retailer now faces an uncertain future - raising questions about what happens next for its stores, staff and one of Australia’s oldest retail brands.

And in the United States, Democrats have taken control of both houses of Congress in the midterm elections.

So what does the shift in power mean for markets, Donald Trump and the global economy?

Carrington Clarke and senior journalist Janine Perrett break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Australian tech darling and design giant Canva has announced major job cuts.

Is this the story of big business becoming the victim of global AI expansion - or is there something else going on?

And the country has reacted to another interest rate rise from the Reserve Bank.

Yesterday borrowers learned their fate - "feeling poorer" for longer, and inflation staying up. 

So the morning after the night before, what do we need to understand about the future of the Australian economy in the eyes of the RBA?

Lin Lin and ABC chief business correspondent Ian Verrender break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

The Reserve Bank of Australia has met, and voted, to raise interest rates by 25 basis points from 4.60% to 4.85%.

It's the fifth rise this year.

It’ll be unwelcome news for those already struggling with the cost of living around the country - but is the pain necessary to get inflation back under control?

And the next question now - is a sixth rate increase potentially on the horizon?

Carrington Clarke and ABC Money Correspondent Jessica Irvine break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Australia’s housing downturn is getting faster.

Home values have now fallen for seven straight months, with capital city prices declining at the fastest pace of any housing downturn in four decades.

But falling prices don’t automatically mean housing is becoming more affordable - borrowing capacity is shrinking, rents are still rising, and the equity picture looks very different depending on where and when you bought.

And hanging over all of today's data from Cotality - tomorrow’s RBA decision, with markets betting another rate hike is an almost certainty.

Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Snowy Hydro was meant to be one of Australia's biggest renewable energy projects.

But the ambitious scheme has been hit by massive cost blowouts and delays, raising serious questions about how much taxpayers will ultimately have to pay.

So what’s gone wrong with Snowy 2.0, and is the project still worth the price tag?

Energy expert Bruce Mountain joins Carrington Clarke to unpack the spiralling costs, the engineering challenges and what the troubled project tells us about Australia's energy transition on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.

Around the world central bankers are grappling with how to deal with unwantedly high inflation. 

In recent days we’ve seen interest rate decisions in New Zealand, Canada and the US. 

So what can we learn from their decisions and deliberations - and in whose footsteps will the RBA follow next week?

Carrington Clarke and ABC News Business Editor Michael Janda break it all down on ABC Business Daily.

Got a burning business question?

We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.