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live: ASX set to gain as Wall Street rebounds on bank bailout optimism

Banks lead US stocks higher amid bailout optimism, as the ASX looks set to recover some of yesterday's fall. Follow the day's events and insights from our business reporters on the ABC News live markets blog. 
a trader at the New York Stock Exchange looks up at a computer monitor from behind a desk

: ‘We don’t have a moment to lose’: Latest climate report comes with dire warning

The world’s climate scientists have issued what one expert says is a “final warning” before global warming exceeds 1.5C, threatening planetary systems human life depends on.
The Jaenschwalde brown coal-fired power plant in Lusatia

: The gas industry claims up to 6,000 jobs will be created from Beetaloo Basin fracking. But how many will go to the local Indigenous people?

An unpublished report commissioned by the federal government has cast doubt on the fracking industry's promise of jobs and economic benefits for Indigenous communities in the Northern Territory.
Man with beard and short hair sitting in wheelchair stares into camera

: Questions raised about the independence of BHP dust report in Pilbara town

Documents show regulators backed down on health advice regarding dust after it was "contested" by the mining giant.
A close-up of a flowering plant with a large mining dump truck in the background.

: How an offshore casino 'partners' with Facebook to illegally target Australians

A series of advertisements for an online casino that target Australians are being shown on Facebook. The case has reopened the debate about how easy it is for offshore businesses to use the internet to evade Australian law, writes Casey Briggs.
A stock photo showing a laptop close-up and the hands of a person using a credit card

: How to reduce your risk when signing a builder, in the wake of two major construction industry collapses

Two giants in the building industry have failed in recent weeks, leaving trails of unpaid debts. So how can customers keep their money safe?
An abandoned PBS building site on Old Burleigh Road at Surfers Paradise
analysis

analysis: Central banks are draining money out of the global economy. Will they pull more banks down the plug hole?

The collapse of Silicon Valley Bank and Signature Bank in the US are a timely warning that rapid changes in monetary conditions can have sudden and unintended consequences, writes business editor Ian Verrender.
People stand outside the doors of a grey building which says Silicon Valley Bank.

: Latitude warns customer data breach could be worse than originally thought

The amount of customer data stolen from Australian company Latitude Financial may grow, with the non-bank lender confirming that drivers licences, passports and Medicare numbers of more than 300,000 people have already been hacked.
A Latitude Financial logo advertising interest free credit.

: Happier staff and more profitable companies — can the four-day week fix burnout and labour shortages?

A UK trial of the four-day week found it made companies more money and staff happier and healthier, while businesses in an Australian trial are already making it permanent.
Alyssa Shaw 2

Latest business news

: King Island food could be cheaper and fresher if new sea route goes ahead

The island sits between two of the country's biggest food bowls, but often pays far more for produce. A new shipping proposal could halve the cost of freight and bring food costs down.
Aerial view of the wharf and ship docked with pens of cattle on deck

: Company fined $60k after worker's arm crushed during luxury apartment build

Major Queensland construction company ASP Piling is fined $60,000, as workplace health and safety inspectors probe serious injury at one of the company's other sites.
A glittering new high-rise in a city lit by low sun.

: Flood-damaged West Australian national parks to shut for 2023, tour operators scramble to 'adapt'

January's record-breaking floods destroyed key infrastructure and washed away significant portions of one of the Kimberley's most visited destinations.
Updated
A still pool of water reflects trees and striking cliffs.

: Prolonged flooding 'hard on everyone' but prediction of 'amazing fishing season' ahead

Residents cut off by major floods in parts of the Gulf of Carpentaria are facing another month without work while businesses grapple with mass cancellations for the tourist season.
Updated
The land surrounding an outback town is under brown water, after flooding.

: ASX dives in late afternoon trade as moves to quell banking crisis fail to enthuse investors — as it happened

By business reporter Michael Janda
Australia was the first major financial centre to react to UBS's takeover of Credit Suisse and coordinated action by central banks to pump more US dollars into the global banking system — and the response was hardly enthusiastic.
Updated
A man wearing a black hooded parka walks past a Credit Suisse sign.

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Business Analysis

analysis

analysis: Central banks are draining money out of the global economy. Will they pull more banks down the plug hole?

By business editor Ian Verrender
The collapse of Silicon Valley Bank and Signature Bank in the US are a timely warning that rapid changes in monetary conditions can have sudden and unintended consequences, writes business editor Ian Verrender.
analysis

analysis: A quarry and an unfair tax system: Why is this the economy young Australians are inheriting?

By business reporter Gareth Hutchens
Australian policymakers have blown the mining boom, and it will take years to turn things around, says former Treasury secretary Ken Henry.

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