Money

Next consortium in pole position to buy Philip Green's Topshop empire

A consortium that includes high street giant Next is thought to be in pole position to buy Sir Philip Green’s Topshop empire out of administration. Arcadia, which employed 13,000 people across 500 outlets at the time of last year’s collapse, is being auctioned, with Monday being the deadline for final bids. Next, which has partnered with the US hedge fund Davidson Kempner, is pitted against Authentic Brands, the US owner of the Barneys...


Fair Work is taking cafe chain 85 Degrees to court over a fake internship program which allegedly underpaid foreign workers

Cafe chain 85 Degrees is being taken to court by the Fair Work Commission after allegedly underpaying workers almost $430,000 over a 12-month period.


Super Retail Group returns $1.7m from jobkeeper amid calls for Harvey Norman to follow suit


These are the top 10 fastest growing job searches in Australia, according to Gumtree

Gumtree has revealed the top 10 fastest growing job search terms on its platform. Topping the list are searches for waitressing, hospitality and retail.


My lightbulb moment: Herbal beauty pioneer

Rivka Rose, 74, who lives in Manchester, founded Faith In Nature, in 1974. The mother-of-two reveals inspiration came from struggling to find a moisturiser in a health food store.


Home buyers face unexpected tax bill when stamp duty kicks in

Thousands of home buyers could be hit with an unexpected tax bill of up to £15,000 each if the stamp duty holiday ends as planned on 31 March, Rightmove has warned. The property website said that with the stamp duty deadline approaching, some sellers who had put their property on the market during the last few weeks were hoping to tempt buyers with a competitive price in an attempt to squeeze in a sale before the holiday ends. However, Rightmove...


'You’d rather be here than almost anywhere else': The Australian economy is beginning its recovery, with Victoria set to lead the pack

Deloitte economists expect Australia's economy to rebound strongly in 2021. Australia will grow by 4.4% this year, with Victoria to be the standout performer, with its economy bouncing 5.3%, chief economist Chris Richardson said.


Brexit Britain can defy gloom says Santander boss

William Vereker said a return of business investment and consumers unleashing savings will drive growth. He expects a 'big uptick' in consumer spending and increased business investment.


The top five things this leading economist thinks will happen in Australia 2021

Last year was a hell of a ride for, well, almost every industry. So what will 2021 bring? Here's how Australia's economy will play in 2021 according to one of our top economists.


Trump brand tarnished after bruising presidency and Capitol attack

Donald Trump shot to prominence with a business empire that bears his name, but after four years of political tumult capped by his supporters' violent attack on the Capitol, the US president's brand stands tarnished, threatening his businesses, experts say. This is a person who's synonymous with a mob attacking the US Capitol," he said.


Apple's Cook says Parler could return to App Store with reforms

Parler, the social network popular among conservatives, could return to Apple's App Store if it changes how it moderates posts on the platform, the tech giant's CEO Tim Cook said Sunday. Apple suspended all downloads of the Parler app following the attack on the US Capitol on January 6, citing postings on the platform that could incite further violence. Google and Amazon also cut ties with the company. Speaking to Fox News Sunday, Cook justified...


Death of INXS manager Chris Murphy casts doubt on the future of Ballina museum

INXS manager Chris Murphy had plans to build an X-shaped museum in Ballina, but it's unclear what the industry giant's death will mean for the long-awaited project.


Tories' London mayoral candidate criticised for comments that 'attack working class families'

The Conservatives’ London mayoral candidate Shaun Bailey has been accused of an “attack on working class families”, after comments emerged in which he appeared to suggest that poor people cannot be trusted with money. Bailey is running against the Labour incumbent, Sadiq Khan, in May’s election, which was delayed for a year by the Covid pandemic. A YouGov poll in November suggested Khan has a 21-point lead over his rival. Bailey has already been...


NSW aims for full tourism rebound by 2024

The NSW government has launched a new tourism strategy it hopes will return travel within the state to pre-pandemic levels by 2024.


Australia, New Zealand dollars weaker on soft U.S. data

Australia, New Zealand dollars weaker on soft U.S. data


Figures point to strong rebound: Treasurer

Treasurer Josh Frydenberg says recent economic data and a new report from Deloitte Access Economics are all pointing to a strong economic recovery.


Tasmania's 150yo Don River Railway plea for funding to survive

For more than 150 years, steam locomotives have travelled along the banks of the Don River in Tasmania, first transporting coal and eventually tourists — now, enthusiasts say without a major injection of funds, the "tourist icon" train line will cease operating.


In parting shot, Trump administration revokes licenses to do business with Huawei: report

The Trump administration has notified Intel Corp. and other tech companies that it is revoking licenses to do business with China's Huawei Technologies Co. and rejecting new license applications, Reuters reported Sunday.


RUTH SUNDERLAND: Ethics will pay a dividend post Covid

Trust, social cohesion and good governance are key to any sound business - and of a sound economy. Businesses have the chance to regain the trust they lost in the financial crisis and other scandals.


Most Asia stocks down after gains, China growth beats forecasts

Most markets fell Monday as investors took a breather following a recent rally, though Hong Kong and Shanghai enjoyed gains after data showed China's economy grew more than expected last year. While broadly welcomed on trading floors, Joe Biden's $1.9 trillion stimulus proposal was unable to fuel fresh gains with the spending spree largely factored into prices, while analysts warned it could be watered down by the time it reaches his desk for...


Government would recover 81% of cost of pay rise for NHS England staff – report

A substantial pay rise for NHS staff in England battling the coronavirus pandemic would cost the exchequer only a fifth of the headline price tag and boost Britain’s struggling economy, according to a report. Setting out the economic case for raising the wages of England’s 1 million nurses, midwives, health professionals and NHS support staff, researchers from the London Economics consultancy said 81% of the cost of a 5% or 10% pay rise would be...


Major firms urge Japan to bolster 2030 renewables goal

Major firms including Sony, Panasonic and Nissan on Monday urged the Japanese government to make its 2030 renewable energy target twice as ambitious. Prime Minister Yoshihide Suga last year set a 2050 deadline for Japan to become carbon-neutral, but the country's shorter term renewables goal has long been criticised as lagging. Japan currently aims to source between 22 and 24 percent of its power from solar, wind and other renewables by 2030, a...


Eurostar warns of 'risk to survival' without government help

Eurostar has said it is facing an existential threat, as business leaders pleaded with the government to step in and save the “vital link” with Europe.


Scrap benefits cut to stop millions falling into poverty, Boris Johnson told

Boris Johnson cannot claim to be “levelling up” the UK if he persists with a planned cut in universal credit for 6 million families, an influential thinktank has said, as pressure mounts on the prime minister over the issue from within his own party. The Resolution Foundation joined opposition parties, anti-poverty campaigners and many Conservative MPs in urging the government to extend the £20-a-week uplift introduced during the first wave of...


Biden to pick Gary Gensler to lead SEC, Rohit Chopra to helm CFPB: reports

President-elect Joe Biden will nominate Gary Gensler to lead the Securities and Exchange Commission and Rohit Chopra to lead the Consumer Financial Protection Bureau, according to media reports Sunday night.


China's economy picks up speed in fourth quarter, ends 2020 in solid shape after COVID-19 shock

China's economy picks up speed in fourth quarter, ends 2020 in solid shape after COVID-19 shock


ASX drops 0.78pc as US stimulus vote looms

Shares have closed lower by 0.78 per cent to start the week on the ASX and investors will be hoping Joe Biden's US stimulus plan is approved soon.


Further drop in unemployment rate expected

Economists expect monthly jobs figures will show the unemployment rate fell to 6.7 per cent in December as 50,000 people joined the workforce.


Stocks rise in Hong Kong, Shanghai on China’s economic growth; other Asian markets retreat

Shares fell Monday across most of Asia following a retreat on Wall Street, but benchmarks in Hong Kong and Shanghai rose after data showed the Chinese economy grew a solid 2.3% in 2020.


Super fast 5G in the US still a work in progress

Marketing pitches in the US are bullish on superfast 5G telecom networks, but they remain more of a promise than reality. - 'Not sexy enough' - AT&T has taken to calling its enhanced 4G network "5G E" in a widely criticized marketing strategy.


The COVID-19 earnings recession is expected to remain, but an end may be in sight

After the holiday quarter snapped an earnings recession last year, the same is not expected this year --- but it isn't impossible, and may happen three months later.


Shift to renewable energy eases key environmental burdens, EU says

Shift to renewable energy eases key environmental burdens, EU says


RUTH SUNDERLAND: Tax grabs on property is divisive and vindictive

RUTH SUNDERLAND: The pandemic has left a chasm in our finances, and it rests on the slender shoulders of Rishi Sunak to ensure our Covid debts are not insupportable.


Concerts to kick-start Vic music industry

A concert series featuring Jimmy Barnes and Tones and I will be held across Victoria to help the music industry and communities recover from the pandemic.


Virus accelerates business online shift

The impact of the COVID-19 pandemic has seen more than half of small businesses accelerate their operations online, with some making the change in a day.


Tesla says starts delivering Shanghai-made Model Y in China

Tesla says starts delivering Shanghai-made Model Y in China


Exclusive: Southeast Asia's Grab considering U.S. IPO this year - sources

Exclusive: Southeast Asia's Grab considering U.S. IPO this year - sources


Vietnam gives Foxconn unit licence for $270 million plant to produce laptops, tablets

Vietnam gives Foxconn unit licence for $270 million plant to produce laptops, tablets


Northern Territory national parks Litchfield and Nitmiluk to charge fees for tourists

The cash-strapped NT Government has confirmed park fees will be on the cards for interstate and international tourists, as one of its budget repair measures.


Indigenous man Noel Walker explains why Coon Cheese name change is so important

Saddened by the openly racist tone of the social media debate over the Coon Cheese name change, Indigenous man Noel Walker joins the discussion to explain his perspective and share his insight into the pain the brand has caused.


Virgin Orbit rocket sends satellites into space for first time

Richard Branson's Virgin Orbit reached space on Sunday, eight months after the first demonstration flight of its air-launched rocket system failed, the company said.


The number of properties for sale in Australia is beginning to dry up in every capital city but one, putting upward pressure on prices

Australian property listings have fallen dramatically in the new year, down 18% on the same time last year. Melbourne has proven the lone exception, with new listings surging 55% and total listings up 13%, versus a 17% average decline.


Sober lifestyle grows in popularity, with more Australians giving up alcohol

More Australians are turning away from alcohol, and some who have ditched the drink say non-alcoholic beverages make it more socially acceptable to be sober.


JB Hi-Fi’s online sales soared 161% which, together with Black Friday deals, more than made up for lockdown store closures

JB Hi-Fi Group reported stellar sales results for the first half of the 2021 financial year. In the company's preliminary, unaudited financial results, it reported $4.9 billion in sales, an increase of 23.7%.


Super Retail, JB Hi-Fi's H1 earnings boom

Retail groups which own the Supercheap Auto and JB Hi-Fi stores have reported booming first-half earnings, based on preliminary figures.


Woolworths employee shares the $3 product EVERY shopper needs to try

An Australian supermarket employee has revealed the $3 product every shopper needs to try.


Branson's Virgin Orbit reaches space for first time

Richard Branson's Virgin Orbit project on Sunday successfully flew a rocket into space from the wing of a 747 plane.


China’s economy rebounds from pandemic, grows 2.3% in 2020

China’s economy grew 2.3% in 2020 as a recovery from the coronavirus pandemic accelerated while the United States, Europe and Japan struggled with disease flare-ups.


CEO Gadea of office-space manager Envoy on how to pivot in a pandemic

CEO Gadea of office-space manager Envoy on how to pivot in a pandemic


ANDREW PIERCE: Cap'n Hindsight lacks foresight on council tax

ANDREW PIERCE: There was a rare policy announcement last week from Captain Hindsight, aka Labour leader Sir Keir Starmer, who called for a block on council tax increases in April.