Scores of construction workers have been laid off after administrators of a major property developer announced rescue funding talks had failed.
Administrators trying to find the money to save buyers, creditors and employees of embattled developer Bathla.
Economics expert 'expects to see some retailers go under and you might expect to see little or no growth in employment in retail'.
Economic uncertainty has produced a buyers' market able to take advantage of deals not seen for a long time.
Bathla Group describes the process as an "orderly restructure", adding first thoughts are with employees and customers.
Weak productivity growth and stifling business conditions are preventing Australia from capitalising on its economic strengths, a think tank claims.
New report says Australia has the necessary ingredients to be a global economic powerhouse but it is lagging behind.
Higher rates and affordability pressures are threatening to push the housing market into a decline, with prices in the two biggest cities already on the slide.
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