As real wage growth falls again, Australian workers must feel the economy is rigged against them | Greg Jericho

In 2025 wages grew slower than inflation, which means that wages clearly are not the cause of rising prices. Not only have workers seen their purchasing power decline, but the RBA’s decision to raise interest rates has once again punished them for inflation that was not their fault.Before I go any further, excuse me while I go to the calendar and mark off yet another three months without a wage breakout. It’s a ritual I have been able to do my entire working life.There hasn’t been a wage breakout since I was in primary school but do not worry – the RBA is still on the watch, ever on alert to raise interest rates in an effort to increase unemployment and lower wage growth

Miner Glencore to give $2bn to shareholders despite profit slump

Glencore is to give $2bn (£1.47bn) to shareholders after a turbulent year in which profits slumped and talks collapsed over a blockbuster $260bn merger with the fellow mining company Rio Tinto.The FTSE 100 company announced the payout on Wednesday despite reporting that annual profits slipped 6% on the previous year to $13.5bn.It comes weeks after talks over what would have been the largest deal in mining history collapsed, leaving the Swiss-headquartered commodities company to press ahead with a plan to more than double its copper production over the next decade

UK inflation falls to 3%, boosting hopes of early cut in interest rates

UK inflation tumbled to 3% in January, giving a boost to hopes of an early cut in interest rates by the Bank of England.The slowdown was in line with a majority of City economists’ forecasts and marks the lowest level since March 2025.The Office for National Statistics (ONS) said that falls in petrol prices, air fares and food had driven the drop.In a welcome boost for households’ shopping budgets, the rise in prices for food and non-alcoholic drinks slowed sharply to 3.6% in the year to January, down from 4

US and Japan unveil $36bn of oil, gas and critical minerals projects in challenge to China

Japan has drawn up plans for investments in US oil, gas and critical mineral projects worth about $36bn under the first wave of a deal with Donald Trump.The US president and Sanae Takaichi, Japan’s prime minister, announced a trio of projects including a power plant in Portsmouth, Ohio, billed by the Trump administration as the largest natural gas-fired generating facility in US history.As a diplomatic row between Japan and China over the security of Taiwan continues, testing the Japanese economy, Takaichi said the projects would strengthen her country’s ties with the US.While Takaichi did not directly mention China, she expressed hope in a statement that the investments would enhance Japanese and US economic security.“Our massive trade deal with Japan has just launched,” Trump declared in a social media post

The death of Heather Preen: how an eight-year-old lost her life amid sewage crisis

In 1999, Heather Preen contracted E coli on a Devon beach. Two weeks later she died. Now, as a new Channel 4 show dramatises the scandal, her mother, Julie Maughan, explains why she is still looking for someone to take responsibilityWhen Julie Maughan was invited to help with a factual drama that would focus on the illegal dumping of raw sewage by water companies, she had to think hard. In some ways, it felt 25 years too late. In 1999, Maughan’s eight-year-old daughter, Heather Preen, had contracted the pathogen E coli O157 on a Devon beach and died within a fortnight

Boost to British Steel as Turkey places high-speed rail order

British Steel has secured an order worth tens of millions of pounds to supply rail for a high-speed electric railway in Turkey, amid continuing uncertainty over the long-term future of the government-controlled steelworks in Scunthorpe.The site will supply 36,000 tonnes of rail to ERG International Group, the company announced, in what it called an “eight-figure agreement”.The rail is destined for a 599km railway line being built to connect the Turkish capital, Ankara, with the western port city of İzmir, which will reduce the travel time and cut carbon emissions.British Steel said securing the contract had allowed it to create 23 new roles at the north Lincolnshire site and to restart round-the-clock rail manufacturing for the first time in more than a decade.The deal, which was supported by UK Export Finance, is seen as a commercial boost for the loss-making manufacturer