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'Iron Man' Downey launches funds in environmental fight

'Iron Man' Downey launches funds in environmental fight


Grenfell cladding firm president agrees to give evidence at inquiry

A senior executive at the firm that made the combustible cladding used on Grenfell Tower has agreed to give evidence to the public inquiry after refusing to do so for the last seven months. Claude Schmidt, the president of Arconic Architectural Products, the French company that supplied the plastic-filled panels that were the main cause of fire spread, was one of several witnesses wanted for questioning by the inquiry into the disaster who had...


Insurance giants facing COVID-19 payout class actions after 'stuff up' with contract fine print

Furious small business owners are vowing to "fight to the end" against Australian insurance companies, in an increasingly heated battle over pandemic payouts that is likely to drag on for years.


Biden administration pauses Trump arms sales to Gulf states for further review

The Biden administration has put a temporary hold on several major foreign arms sales initiated by the administration of then-President Donald Trump.


Manchester Arena security firm not to blame for staff's inaction, inquiry told

The firm responsible for stewarding and security at Manchester Arena was not to blame if its staff “missed opportunities” to prevent the bombing, the public inquiry into the attack heard on Wednesday. Jonathan Laidlaw QC, representing Showsec, said that “primacy” for safety lay with the state and the police rather than the firm. He added that the firm “was not seeking to shift blame or to scapegoat” either. Two of the Showsec stewards, Kyle...


White House says telecom equipment made by vendors such as Huawei is a threat to national security

White House says telecom equipment made by vendors such as Huawei is a threat to national security


Elaine Stead awarded $280k for defamation by Australian Financial Review columnist Joe Aston

Journalist Joe Aston engaged in a campaign of "offensive mockery" against businesswoman Elaine Stead while writing for the Nine Entertainment Co newspaper, a judge found, leaving Ms Stead feeling "humiliated".


Consumer prices rose in 2020, despite the recession, as childcare fees returned

Consumer prices rose in Australia last year, bouncing back from record deflation in the June quarter despite the nation's first recession in nearly three decades.


Poundland enjoys sales boost as expansion plans continue

Like-for-like sales across the retailer's open shops rose by 5.5 per cent over the period, the group's new trading update shows.


Companies are powering ahead with big battery projects, but a 'lack of certainty' by governments could deter good investment

New projects are being announced all the time in the grid-scale battery arms race but concerns are being raised over a patchwork approach which has seen some states go at it alone in their pursuit of more aggressive emissions targets.


Back-to-school confusion in South Australia over lunchbox fruit bans, coronavirus restrictions

Students across South Australia return to school amid confusion over bans on parents in classrooms and fruit in lunchboxes.


Corrie's Maureen Lipman taking break from the soap until Covid vaccine

The actress, 74, explained that although she was concerned because cast 'weren't being tested', her mind is now at ease and she's 'looking forward to going back' to work after taking a 'sabbatical'.


Fed says US economy depends on pandemic, vaccinations

The Federal Reserve said Wednesday that the fate of the US economy depends on the course of the pandemic and the vaccine rollout, and pledged to keep interest rates low until employment recovers. The FOMC said it would keep the benchmark lending rate low until inflation rises to two percent, and the economy achieves "full employment," in keeping with the Fed's new policy stance.


IMF lifts growth forecast on vaccine hopes

The International Monetary Fund has raised its forecast for global growth, but warns there is still exceptional uncertainty in the outlook.


Protect your finances as the UK heads for a double-dip recession

Unemployment has climbed to 5 per cent while recent GDP figures highlighted a likely double-dip recession for the UK. We outline how you can protect yourself.


Childhood poverty is three times more common than we thought

One-third of households with a child were net-worth poor in 2019, three times as many as were income poor.


Lurching from crisis to crisis, Boeing delays 777X with demand hobbled

Lurching from crisis to crisis, Boeing delays 777X with demand hobbled


GameStop's dizzying share price rise is game over for the short-sellers

If you find trading bitcoin insufficiently hair-raising, try GameStop. It is the Texas-based video games retailer that will be hard to out-do as the stock market story of 2021. The share price was $19 at the start of this month but reached $330 in mid-afternoon on Wednesday in New York. There have been a few downwards lurches along the way, but the overall direction has been unsustainably upwards. It must be unsustainable because nothing of note...


Boeing 737 Max cleared to fly again by EU regulator

Boeing’s 737 Max aircraft has been given the green light to return to the skies in the UK and the EU, after a 22-month grounding following two fatal crashes. The UK’s Civil Aviation Authority (CAA) said on Wednesday it had lifted a ban on the 737 Max in UK airspace and that UK airlines would be allowed to fly it, shortly after the European Union Aviation Safety Agency (EASA) also issued its final approval. However, the CAA stressed that pilot...


Australian shares to fall; Dow Jones drops 600 points on fears of overvalued market

Australian shares are set to open lower, following heavy losses across foreign markets as investors fretted about overvalued stocks and the economic impact of the COVID-19 pandemic.


'Brexit has NOT been catastrophic': City of London boss says

Despite reservations about a potential 'bonfire' of EU rules by the Government, City of London Corporation boss Catherine McGuiness thinks the capital will continue to thrive as a financial hub.


CPI ticks up on child care, tobacco costs

A rise in child care and tobacco costs were key drivers in a rise in inflation in the December quarter, but the annual rate was still a benign 0.9 per cent.


JPMorgan steps up pressure on Goldman Sachs with launch of new U.K. digital bank

The Wall Street lender will face stiff competition from U.K. startups like Monzo and Starling.


White House exploring tapping drugmakers to produce rivals' vaccines

White House exploring tapping drugmakers to produce rivals' vaccines


New listings fall amid lockdown but price growth hits four year high

The average price for a UK home rose 4.3 per cent to £223,700 in the year to December, the highest since April 2017, according to property portal Zoopla.


Microsoft profits surge as Xbox and Azure services soar

High demand for the firm's cloud computing services and a successful launch of two new video game consoles helped its year-on-year revenues grow 17 per cent to £31.4billion.


Tasmania remains top economic performer

Commonwealth Securities' quarterly State of the States analysis has found Tasmania leading the pack for a fourth quarter in a row.


Five or six doses? Controversy over Pfizer vaccine vials

The US pharmaceutical giant Pfizer, which is manufacturing the Covid-19 vaccine developed by Germany's BioNTech, now considers each vial contains six doses compared to five previously. The difficulty in obtaining that sixth dose in practice means many countries are at loggerheads with Pfizer and facing a drop in supply. - How many doses ? - Until recently, each vial of the BioNTech-Pfizer vaccine was considered to officially contain five doses....


Benign inflation keeps rate rise at bay

Signs of a strengthening economic recovery has yet to have a meaningful impact on inflation, which will keep interest rates at record lows for some time yet.


Britain's next free trade deal set to be with Australia - City AM

Britain's next free trade deal set to be with Australia - City AM


Fed's Powell says he has received one dose of coronavirus vaccine

Fed's Powell says he has received one dose of coronavirus vaccine


Dow skids more than 500 points as Powell stresses long road to recovery, short squeeze in focus

Stocks tumbled to near sesson lows Wednesday afternoon, as Federal Reserve Chair Jerome Powell underscores how far the economy is from a full recovery, after first policy meeting of 2021.


EU's vaccine supply issues mean light at end of tunnel that much further away

In recent nights, rioters have poured on to the streets of 10 Dutch cities in what has been the closest Europe has come to open revolt against the coronavirus restrictions imposed across the continent. The violence, the worst in four decades, might be put down to the liberty-loving culture of the country or an outbreak of straightforward criminality but, perhaps not coincidentally, the Netherlands is also the very last EU member state to start...


GameStop inspired? Some of Europe’s most heavily shorted stocks are soaring

Shares of Klépierre and Unibail-Rodamco-Westfield were climbing on Wednesday, as the battle between retail investors and hedge funds continues in the U.S.


Apple overtakes Amazon to become world’s most valuable brand, while Tesla is the fastest-growing

Apple has overtaken Amazon to become the world’s most valuable brand for the first time in five years, according to a global report.


Fed leaves policy unchanged as economic recovery appears to moderate

Fed leaves policy unchanged as economic recovery appears to moderate


GameStop and AMC stocks soar on another day of wild trading in heavily shorted companies

GameStop Corp.'s stock movement continued to turn efficient market theory on its head Wednesday, streaking to a record that valued the retail chain at more than $20 billion.


Boeing reports $11.9 bn annual loss after hit on 777X delay

Boeing closed the books on a bruising 2020 by announcing another unpleasant surprise on Wednesday: a $6.5 billion hit from delays to its new 777X plane that exacerbated the aerospace giant's annual loss. Boeing, which saw its revenues ravaged by the commercial airline downturn sparked by the Covid-19 crisis and the 20-month grounding of its 737 MAX model, now expects first deliveries of the wide-body 777X in late 2023, compared with the earlier...


US manufacturing recovery continues despite weak December

The ongoing struggles of the aviation sector held back US durable goods orders at the end of 2020, but the manufacturing sector continued to slowly recover from the Covid-19 downturn, government data showed on Wednesday. Orders for big-ticket manufactured items grew a measly 0.2 percent in December, well below expectations and November's upwardly revised growth, though there's evidence the sector's recovery is continuing after the coronavirus...


Aust shares close down 0.65pc, miners drop

Investors had their steepest losses on the ASX in more than a week, but inflation figures showed plenty of reasons to stay in the market.


JP Morgan to launch digital bank in UK

Wall Street giant JP Morgan is to launch a new digital bank in the UK, in a move that threatens to shake up a banking sector still dominated by a handful of high street lenders. JP Morgan has already hired 400 staff for its soon-to-be-launched digital bank, which will be headquartered in Canary Wharf and operate under its consumer brand, Chase. The announcement confirms rumours about JP Morgan’s plans for a retail bank in Britain. Known only as...


Supermarke premium ready meals have DOUBLE the amount of fat

Channel 5's Secrets of Your Supermarket Food looked into the amount of saturated fat and salt contained in supermarket's own-brand premium ready meals compared to their classic options.


Australia's billionaires struck gold during the pandemic. Now it's time to combat rising inequality, analysts say.

Australia's 31 billionaires accumulated $85 billion more between them during the COVID-19 pandemic, according to the latest Oxfam report. The experience contrasts sharply with the those of the average Australian, who has faced rising unemployment and imminent cuts to government support.


GameStop stocks: US hedge fund pulls out after heavy losses

A US hedge fund that has invested heavily betting on the failure of the struggling video game store chain GameStop has pulled out after an army of small investors sent its shares soaring and cost the financial firm a fortune. Melvin Capital Management, one of a number of Wall Street firms that stood to make money for investors if GameStop’s shares plummet, has told CNBC it has closed out its short position after taking a huge loss. The hedge...


Inflation remains well below RBA's target

The consumer price index rose 0.9 per cent in the December quarter, with the annual rate also at 0.9 per cent and well below the Reserve Bank's target.


Why are Indian farmers protesting?

Indian farmers have for months been camped on the outskirts of New Delhi in protest against new agricultural legislation, and on Tuesday thousands rampaged through the capital in a dramatic escalation of their standoff with the government. AFP examines the laws, why they are contentious and at Prime Minister Narendra Modi's options in his stiffest challenge since coming to power in 2014. - What is the state of Indian agriculture? - India's...


European clubs chief warns of losses up to 8.5 billion euros due to pandemic

The head of the powerful European Club Association, Andrea Agnelli, has warned that top-level football clubs across the continent face more dire financial losses this year as they struggle to come to terms with the impact of the Covid-19 pandemic. Agnelli was speaking after the release of the Deloitte Football Money League report this week which showed combined revenue of the top 20 richest clubs in Europe in 2019/20 had dropped by 1.1 billion...


Andrew and Nicola Forrest flag RM Williams factory expansion, push for 100pc Australian-made products

The owners of iconic bootmaker RM Williams, Andrew and Nicola Forrest, say they are looking at expanding the company's factory in Adelaide's northern suburbs and are aiming to have all products 100 per cent made in Australia.


Costello sees danger in low interest rates

Future Fund chair Peter Costello said he was unsure whether keeping interest rates low was helping inflate stock markets to possibly unsustainable levels.


Biden poised to halt fossil fuel leasing on federal land

US President Joe Biden was planning to announce new bans on oil and gas drilling on federal lands Wednesday as part of a raft of actions that take aim at climate change, according to reports and a White House memo.