Why Afterpay could be coming to a supermarket checkout near you
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay
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AU Financial Review
5 hours ago
- AU Financial Review
Why Afterpay could be coming to a supermarket checkout near you
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay
Sky News AU
6 hours ago
- Sky News AU
Chris Uhlmann slams renewable energy targets, saying ‘great lie' of government energy agendas ‘has to be exposed'
Sky News Political Contributor Chris Uhlmann has called out what he described as the 'great lie' of renewable energy targets, as questions linger over a state government's controversial renewables plan. Victorian Energy Minister Lily D'Ambrosio has admitted the full cost of a multibillion-dollar renewable energy plan to be rolled out by the state government is not yet known. When asked whether the $4.3 billion figure for the plan detailed last month could actually be closer to $20 billion, the Minister remained tight-lipped over the cost and how energy prices could be affected, the Australian Financial Review reported. 'This is not about being dishonest, if that's what you're implying,' Ms D'Ambrosio said on Friday, according to the AFR. 'If we don't build transmission, I can tell you what happens. People's lights go out and power prices will go through the roof. 'People need to understand that transmission is an investment that facilitates the build of replacement electricity.' Speaking to Sky News host Peta Credlin on Monday evening, Mr Uhlmann took aim at renewable energy agendas in the face of the controversial Victorian government plan. 'We've seen it around the world Peta, everywhere you put in large-scale deployment of wind and solar, two things happen: the grid becomes more fragile and electricity prices soar,' he said. 'I see Lily D'Ambrosio saying that it's not going to be $20 billion, but can't say how much it's going to be, and of course, those transmission lines that she's left out of the equation probably come to around about $16 billion. So what do we know about that? We know that 9 per cent of your electricity bill is the transmission costs.' Mr Uhlmann then pointed to the federal Labor government's renewables policy, which has also drawn has drawn heavy criticism over significant project costs. 'It's interesting now that the federal Labour Party has stopped saying that people's electricity bills will go down,' he said. 'The great lie in all of this has to be exposed and that is it will be neither greener nor cheaper and the system will certainly be more fragile. 'That's the energy future which is on offer because of the policy decisions of state and federal governments.' The Victorian government VicGrid body's 2025 Victorian Transmission Plan includes proposed onshore renewable energy zones, which have been identified as suitable to host renewable energy projects. "The Victorian Transmission Plan is necessary to keep the lights on and keep energy costs affordable as Victoria's coal-fired power stations close," a state government statement on the plan's draft announcement said.
9 News
5 days ago
- 9 News
Aussies are spending way more on booze than they were last year
Your web browser is no longer supported. To improve your experience update it here Households might be holding back on their spending, but there's one thing Australians have been happy to splash out on recently: booze. New ABS data released this morning showed spending growth was essentially flat in April, rising by just 0.1 per cent for the month, it fell 1.2 when only goods were considered. That came on the back of fresh GDP figures yesterday , which showed the proportion of income Australians are saving has risen to 5.2 per cent – up from less than 4 per cent late last year. Australians are spending more on beer each month than they were this time last year. (Chris Hopkins) But while households are clearly still keeping their belts tight after years of high inflation and interest rate rises, they've been happy to spend more on alcohol recently. A survey by comparison site Canstar Blue found Australians are spending $77 on wine every month, on average, an increase of 17 per cent from the same time last year, when the figure was sitting at $66. The jump in beer spending has been even steeper: up 30 per cent, going from $76 to $99. That's well in excess of inflation, as the average price of beer rose a far more modest 4.5 per cent in the 12 months to March. Spending on wine is also up, although not by as much. (Louie Douvis/AFR) "The Easter holidays helped pick up spending slightly for the month of April, but these latest figures show households chose to spend more on experiences than on discretionary items, like clothing and footwear," Canstar Blue spokesperson Eden Radford said. "Despite spending on alcoholic beverages and tobacco falling for the month, Canstar Blue research shows average monthly spending specifically on wine and beer has increased over the last year, with survey data showing $99 for beer and $77 for wine. "If this month's figures are anything to go by, households will continue to keep a close eye on their budgets, with many likely holding out for big sale seasons or tax returns, before making any big purchases." Yesterday's relatively weak GDP figures have fuelled expectations that the Reserve Bank will reduce interest rates again when it next meets in July, with the market now pricing in an 86 per cent chance of a cut, up from 81 per cent on Tuesday. Consumer national Australia money Cost of Living finance alcohol CONTACT US
