Peter Ryan_ABC News Soundcloud

There's a high stakes political showdown underway in Washington at the moment over Donald Trump's proposals for more tax cuts in the United States. Some congressional repubicans - who'd normally back Mr Trump - are nervous about how to pay for the additional tax breaks in the face of concerns the proposal could add trillions to Amerca's already massive debt pile. ABC's Peter Ryan explains.

The Reserve Bank board is highly likely to cut its official cash rate by 0.25 percentage points later today down to 3.85 percent. The big question is whether there'll be followup rate cuts later this year with consumer inflation now back in the middle of the RBA's 2 to 3 percent target band. Economist Warren Hogan says there's a risk inflation could make a comeback given the tight jobs market. Reporter: Peter Ryan, Senior Business Correspondent Featured: Warren Hogan, economic advisor, Judo Bank

Borrowers paying down steep mortgages are likely to get some extra relief with the Reserve Bank poised to cut official interest rates at tomorrow's board meeting. That would make the second rate cut this year after 13 rate hikes since May 2022 to tame inflation. But economic jury's out on how many more cuts we'll see later this year. Reporter: Peter Ryan, Senior Business Correspondent Featured: Besa Deda, chief economist, William Buck

Title: Caption: Borrowers hoping to pay down a mortgage a bit faster will be paying close attention to next week's meeting of the Reserve Bank board and the near certainty of an interest rate cut to 3.85 per cent. While economists think the second rate cut this year is locked in, a surging jobs market could see fewer-than-expected rate cuts later this year. ABC's Peter Ryan explains. Reporter: Peter Ryan, Senior Business Correspondent Featured: Keywords:

Title: Investors with more than $3 million in their superannuation accounts at the moment are increasingly nervous about a proposed new tax that will eat into some super earnings that are yet to be sold or realised. There are concerns that more Australians might be hit in the future given that the proposed levy isn't indexed for inflation if it passes into law. Also, the Telecommunications Industry Ombudsman says there's been a rise in complaints as consumers struggle to pay bills during th cost of living crisis. And economists will be watching the April employment update out this morning - the final data as the Reserve Bank considers an interest rate cut next week.

There's been a critical truce in the tariff war between the United States and China after the world's two biggest economies agreed tom slash their tariffs on each other for at least 90 days. But the big question is whether this is just a "pause", did Donald Trump "blink" and could economic hostilities emerge again?

US Treasury secretary claims "substantial progress" has been made on brokering a tariff deal with China after Donald Trump imposed a 145 percent tariff on Chinese exports coming into the US and China hit back in kind. Also in Australia, key economic data out this week is likely to lock in anticipated interest rate cut and more to come later this year.

US claims "substantial progress” tariff talks with China by Peter Ryan

Title: Donald Trump, Keir Starmer hail limited US-UK trade deal to resolve global tarrif shock Caption: While the big focus is on white smoke in the Vatican where a new pope has been announced,there's encourging economic white smoke with a new trade deal between Britain and the United States. The important breakthrough is the first trade deal the US has signed after Donald Trump paused his global tariffs campaign last month. So who's the winner? ABC's Peter Ryan explains. Reporter: Peter Ryan, Senior Business Correspondent Featured: Donald Trump, US president; Sir Keir Starmer; UK president; Sir Crawford Falconer, former UK trade negotiator

Title: US interest rates on hold despite Trump demands to cut Caption: There's more evidence that Donald Trump's campaign of tariffs is clouding the economic outlook in the United States. The US Federal Reserve has once again defied Mr Trump by not cutting interest rates worried the tariffs war could stoke inflation and hurt the US labour market at the same time..

Journalist and humanitarian Iain Finlay died on Tuesday, aged 89, choosing voluntary assisted dying. Mr Finlay, who had amyloidosis, was an accomplished TV and radio journalist and worked for the ABC on This Day Tonight and Beyond 2000.

As Donald Trump's tariffs rock confidence around the world, one of Australia's banking bosses says our economy can weather the storm .. as long as China's economy remains strong. National Australia Bank chief executive Andrew Irvine thinks Australia would be exposed if a tdamaged China cuts back lucrative commodities.

Canadian Prime Minister Mark Carney meets Donald Trump in the the White House for his first talks since becoming Canada's prime minister last week. Mr Carney bluntly told Mr Trump - who wants to make Canada the 51st US state - that Canada will "never be for sale". ABC's Peter Ryan with this analysis.

Donald Trump planning 100pc tariff on US films made offshore; Liberal donors to hold back cash after election rout Caption: The US entertainment industry has reacted with a mixture of alarm and bewilderment after Donald Trump said he'd impose a 100 per cent tariff on all movies produced outside the United States. Also, liberal party donors threaten to end cash lifeline after Labor's landslide win at the weekend.

Having secured a powerful historic majority, does Anthony Albanese now have a clear mandate to tackle major economic reforms with a focus on lifting productivity? ABC's Peter Ryan speaks with AMP chief economist Shane Oliver and Westpac chief executive Anthony Miller. Both agree Labor's landslide is an opportunity to take hard decisions.

Having secured a powerful historic majority, does Anthony Albanese now have a clear mandate to tackle major economic reforms that both Labor and the Coalition have put in the too hard basket for years? AMP chief economist Shane Oliver discusses the options with ABC’ Peter Ryan.

Will albo tackle hard economic reform? by Peter Ryan

It's six weeks to go before Donald Trump is inaugurated as US president and big global investors are scrambling to prepare for his economic policies that include hefty tariffs in what's likely to be a new era of protectionism for the world's biggest economy. The ABC's senior business correspondent Peter Ryan speaks with Juan Delgado, co-chief executive Hamilton Lane Hamilton Lane - a private markets investment firm with around a trillion US dollars in assets under management.

With Australia's economy teetering on the brink of recession, business groups are warning that "chickens are coming home to roost' because successive governments have shyed away from major economic reforms. While the focus is on data showing an economy propped up for by government spending, there's a warning that big investors are staying away from Australia because of policies perceived to be anti-business. Reporter: Peter Ryan, Senior Business Correspondent Featured: Bran Black, CEO, Business Council of Australia; Andrew McKellar, CEO, Australian Chamber of Commerce & Industry Keywords:

With Australia's economy close to flatlining, the heat is turning up on the Reserve Bank to bring forward interest rate cuts to avoid a recession. Official figures show barely any economic growth in the most recent quarter and just 0.8 percent over the year.The outcome is bad news for the federal government with next year's federal election to be fought on the theme of strong economic management. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jim Chalmers, Federal Treasurer

Australia's economy is limping along on at its slowest pace since the 1990s recession excluding the pandemic and only held up by government spending, according the latest GDP figures out this lunchtime. The National Accounts reveal an economy on life support as aggressive interest rate rises and the high cost of living bite into business and consumer spending.

The board of the $94 billion CBUS industry superannuation fund has been told to improve its governance and to demonstrate its "partnership" payments to the Construction, Forestry and Maritime Employees Union are in the best interests of its members. The investigation was triggered after serious allegations about misconduct by board members, who are affiliated with the rogue construction union.

Reserve Bank governor Michele Bullock has warned underlying inflation is still too high to consider interest rate cuts. Also, insurance giant IAG has swallowed up the insurance arm of Queensland icon RACQ in a deal worth $855 million. But IAG boss Nick Hawkins tells ABC’s Peter Ryan the RACQ brand will be maintained and there’ll be no job cuts.

Inflation remains stubborn in the United States, with a monthly indicator showing consumer prices rose slightly in October. With inflation still above the US Federal Reserve’s inflation target of 2 per cent, economists are betting the pace of US rate cuts in 2025 will be slower than expected. Also, Donald Trump nominates China hawk Jamieson Greer to be US Trade Secretary to enforce his planned tariffs on Canada, Mexico and China.

The Albanese government is being warned to resist a pre-election cash splash amid forecasts that the budget bottom line is facing its worst deterioration on record - excluding the pandemic.The latest budget monitor from Deloitte Access Economics warns the federal government can no longer rely on previous windfalls from the commodities boom to protect the budget bottom line. Reporter: Peter Ryan, Senior Business Correspondent Featured: Stephen Smith, partner, Deloitte Access Economics Keywords:

Australia's Future Fund - a public wealth fund set up nearly 20 years ago by the federal government -is getting a big shakeup. It's board has been given a new directive to focus on the Albanese government's priority projects of housing, renewable energy and infrastructure. But what are the risks that politics could erode the Fund's independence? Peter Ryan explains.

Australian businesses are failing at the fastest rate since the pandemic as painfully high interest rates take their toll, according to the credit reference agency CreditorWatch. The insolvencies are being exacerbated as the Australian Taxation Office attempts to recover $35 billion in outstanding debt, with the 29,000 businesses owing an average $100,000. Reporter: Peter Ryan, Senior Business Correspondent Featured: Ivan Colhoun, chief economist, Creditwatch Keywords:

The Business Council of Australia is warning that Australia's living standards will plunge in the years ahead unless the federal government tackles stalled productivity. And Woolworths is grilled at the ACCC’s supermarket inquiry about whether it uses “land banking” to stymie competition.

National Australia Bank is being sued for allegedly failing to help 345 customers in financial distress. Corporate regulator ASIC claims the bank didn't respond to hardship applications before a 21 day deadline. ASIC chairman Joe Longo speaks with ABC's Peter Ryan. Reporter: Peter Ryan, Senior Business Correspondent Featured: Joe Longo, ASIC chairman Keywords:

The head of the industry superannuation giant CBUS has apologised for delayed payouts for around 10,000 customers making death and disability claims. Chief executive Kristian Fok made a last minute appearance before a senate committee which is putting Australia's $3.9 trillion superannuation system under the microscope. Reporter: Peter Ryan, Senior Business Correspondent Featured: Kristian Fok, CBUS chief executive; Andrew Bragg, liberal senator

Optus chief executive Stephen Rue has promised to weed out and sack staff who fail to meet the telco's ethical and legal standards. Mr Rue inherits a reputational crisis after Optus sales staff in Darwin and Mount Isa were accused of exploiting indigenous Australians and people with disabilities .. selling them mobile gear they didn't want, didn't need and couldn't afford. Reporter: Peter Ryan, Senior Business Correspondent Featured: Stephen Rue, Optus chief executive Keywords:

Industry superannuation giant CBUS is in hot water with the corporate regulator ASIC over its alleged mishandling of insurance claims to grieving families and people with disabilities. Meanwhile, NSW Liberal senator Andrew Bragg is ramping up pressure for CBUS chairman Wayne Swan – a former Labor treasurer – to front the Senate Economics Committee.

Teenage workers excluded from superannuation because they work less than 30 hours a week is discriminatory, according to the Super Members Council. Chief executive Misha Schubert wants to overturn a historical quirk in super rules could add $10,000 to a retirement nest egg. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jessica Dawson, teenage worker; Misha Schubert, chief executive, Super Members Council; Tyrone O'Neill, REST super Keywords:

Teenage workers excluded from superannuation because they work less than 30 hours a week is discriminatory, according to the Super Members Council. Chief executive Misha Schubert wants to overturn a historical quirk in super rules which could add $10,000 to a retirement nest egg. Employer groups worry the super to under-18s could be an additional impost for businesses. Reporter: Peter Ryan, Senior Business Correspondent Featured: Misha Schubert, chief executive, Super Members Council Keywords:

Australia's economy won't avoid Trump tariffs hit. Treasurer Jim Chalmers warns of a temporary impact on economic output and potentially higher inflation. But Dr Chalmers says he's ready to work with the incoming Trump administration.

Federal chair Jerome Powell to Donald Trump - "I'm won't quit" by Peter Ryan

US Federal Reserve chairman Jerome Powell says he won't quit and that Donald Trump has no power to sack him. Mr Powell was standing firm against interference from the incoming president after cutting US interest rates by 0.25 percentage points. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerome Powell, chairman US Federal Reserve Keywords:

Title: US Federal Reserve chair says Donald Trump has no power to sack him Caption: US Federal Reserve chairman Jerome Powell says he won't quit and that Donald Trump has no power to sack him. Mr Powell was standing firm against interference from the incoming president after cutting US interest rates by 0.25 percentage points. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerome Powell, chairman US Federal Reserve Keywords:

Title: US Federal Reserve chair says Donald Trump has no power to sack him Caption: US Federal Reserve chairman Jerome Powell says he won't quit and that Donald Trump has no power to sack him. Mr Powell was standing firm against interference from the incoming president after cutting US interest rates by 0.25 percentage points. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerome Powell, chairman US Federal Reserve Keywords:

Wall Street rockets on decisive Trump victory - but jitters about US China trade war by Peter Ryan

National Australia Bank chief executive Andrew Irvine speaks with ABC senior business correspondent Peter Ryan about Donald Trump's decisive victory. Mr Irvine says while the outcome provides certainty, he's cautious about Mr Trump's plans to ramp up tariffs on goods brought into the US - warning Australia would be hurt by a global trade war with China. Mr Irvine was speaking after the NAB revealed a six percent fall in full year profit to just under $7 billion. Reporter: Peter Ryan, Senior Business Correspondent Featured: Andrew Irvine, National Australia Bank chief executive

With the Albanese government in unofficial election mode, the Reserve Bank governor Michele Bullock urged against any cash slurge to entice voters. The warning was directed at Treasurer Jim Chalmers after the RBA board decided - as expected - to leave interest rates on hold .. unprepared to declare victory in the fight against inflation. Reporter: Peter Ryan, Senior Business Correspondent Featured: Michele Bullock, Reserve Bank governor

It's a nailbiting week for the direction of the global economy, with the US presidential election expected to go down to the wire. ABC’s Peter Ryan looks at the potential fallout here in Australia.

As you consider making ends meet during a cost of living crisis .. there's news that more than 1200 big companies paid no tax in the last financial year. Naturally this will probably leave a bit of a sour taste for many listeners .. but there are good reasons according to the Australian Taxation Office.

Telecommunications giant Optus has been accused of exploiting vulnerable Australians - including First Nations people and people with disabilities - for allegedly selling them goods and services they didn't want or need.The explosive allegations relate to hundreds of Optus customers including some who were pursued by debt collectors in what the ACCC has described as inappropriate and fraudulent sales conduct. Reporter: Peter Ryan, Senior Business Correspondent Featured: Gina Cass-Gottlieb, ACCC chair

February rate cut on horizon after inflation fall as Woolworths confirms price deflation by Peter Ryan

The outlook for slowing inflation in today's quarterly CPI update is unlikely to pave the way for an early interest rate cut. Economist Warren Hogan says the Reserve Bank will be focusing on underlying inflation which strips out one-offs like energy rebates and a six percent fall in petrol prices. Mr Hogan says there's a risk the RBA might be force to raise interest rates again if inflation remains stubbornly high. Reporter: Peter Ryan, Senior Business Correspondent Featured: Warren Hogan, economic adviser, Judo Bank Keywords:

In a move that could represent a big challenge to Qantas' domination of the skies in this country, Qatar Airways is seeking to buy a 25 per cent stake in Virgin Australia. But the deal will need approval from the Foreign Investment Review Board and the competition watchdog the ACCC. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jayne Hrdlicka, Virgin Australia CEO; Jim Chalmers, Treasurer; Peter Dutton, Opposition leader; Roger Montgomery, fund manager

To rising tensions in the Middle East and how the risks of a wider conflict are rattling financial markets... The global price of oil - which was already creeping higher - has surged after Iran launched a barrage of missiles at Israel earlier this morning.

In a move that could represent a big challenge to Qantas' domination of the skies in this country, Qatar Airways is seeking to buy a 25% stake in Virgin Australia. But the deal will need approval from the Foreign Investment Review Board and the competition watchdog the ACCC.