Business

More than a quarter of VET student loans go unpaid. The Productivity Commission says Australia should collect those debts from the dead.

Unpaid VET Student Loan debts should be collected from deceased estates, the Productivity Commission says in a new report. "There is no clear rationale" against treating student debts differently to mortgages or credit card debts, the report claims.

2021-01-21T02:10:15Z

BUSINESS LIVE: Entain appoints new boss

Ladbrokes owner Entain has appointed Jette Nygaard-Andersen to replace Shay Segev as chief executive.

2021-01-21T09:13:13Z

‘Just get over the marijuana stigma': The benefits of building houses with hemp, according to experts

Industrial hemp - a cannabis plant with very low concentrations of psychoactive chemical THC - can be used to build houses and has several benefits.

2021-01-21T06:10:30Z

ECB meets as virus woes weigh on eurozone

European Central Bank governors meet Thursday to take stock of their monetary stimulus efforts as more infectious strains of the coronavirus and stricter shutdowns cloud the economic outlook. "The short-term path of the eurozone economy will be determined by the virus, vaccines, lockdowns, and fiscal stimulus, not additional monetary stimulus."

2021-01-21T02:03:25Z

Building a green economy could stop ‘nightmare’ degradation of Amazon

The Amazon will be transformed into a “highly degraded nightmare” unless a sustainable biodiversity-based economy develops which properly values ecosystem services and products produced by the rainforest, a leading scientist has warned. Prof Thomas Lovejoy, the “godfather of biodiversity”, said if agro-industrial economic developments such as cattle farming, palm oil production and mining continue, the rainforest’s hydrological cycle will be “in...

2021-01-21T11:36:51Z

Scott Morrison's regional Queensland tour overshadowed by talk of COVID quarantine site

Scott Morrison has been rubbing shoulders with locals at the pub, touring an oil refinery and making gas industry announcements, but the focus remains on a possible regional quarantine hub at a mining camp.

2021-01-21T04:38:27Z

Liberal MP Warren Entsch says many businesses will need government aid after JobKeeper

Federal Government backbencher Warren Entsch says many businesses will need financial assistance beyond March when JobKeeper ends and is confident more support measures will be announced.

2021-01-20T20:08:10Z

Futures edge higher ahead of weekly jobless claims data

Futures edge higher ahead of weekly jobless claims data

2021-01-21T12:16:59Z

These are the 15 jobs on the rise in Australia in 2021, according to data from LinkedIn

LinkedIn has revealed the jobs on the rise in Australia in 2021. These include mental health specialist roles and jobs in cybersecurity. It comes as the coronavirus pandemic has shifted the employment landscape in Australia, causing a drop in demand across tourism but a spike across digital content.

2021-01-20T01:08:53Z

Vocational training needs reform: report

The Productivity Commission has released its final report into the national skills agreement, with fresh calls to overhaul vocational education and training.

2021-01-20T16:38:46Z

Katy Perry poses with Orlando Bloom after inauguration performance

Orlando Bloom has praised his fiancé Katy Perry's incredible performance at President Joe Biden's inauguration in Washington on Wednesday.

2021-01-21T09:30:16Z

Australian housing market to experience 'up crash' on back of homebuilder mini-boom – investment bank

Australia’s housing market is set for an “up crash” as the government’s homebuilder subsidy scheme prompts a spike in construction that will rapidly fall away, investment bank UBS says. George Tharenou, the chief economist at UBS in Australia, said due to the homebuilder spending spree he had increased his estimate of the number of houses that would be built in 2021 from 185,000 to 230,000 – well above the 175,000 level predicted by other...

2021-01-21T08:03:04Z

EU likely to tap markets for almost 100 billion euros in 'late spring': Gentiloni

EU likely to tap markets for almost 100 billion euros in 'late spring': Gentiloni

2021-01-21T13:22:01Z

Geoscience Australia expands earthquake monitoring system in NT's Beetaloo Basin

The cause of tremors near fracking sites remains a mystery in Australia due to a lack of data. Now, as the Federal Government and gas companies target the NT's Beetaloo Basin for fracking, scientists are preparing to answer some seismic questions.

2021-01-21T03:23:25Z

Tech stocks won’t crash according to this fund manager, dubbed the English Warren Buffett

A one-size-fits-all label for technology stocks doesn’t help with evaluating them, says Fundsmith founder Terry Smith.

2021-01-21T13:37:25Z

Union Pacific quarterly profit beats on higher shipment volumes

Union Pacific quarterly profit beats on higher shipment volumes

2021-01-21T13:15:24Z

Aust shares close at 11-month high

ASX investors nudged the market to an 11-month high as lower unemployment and US President Joe Biden's first day in office encouraged optimism.

2021-01-21T01:53:51Z

Housing starts rise in December as builders ramp up production of single-family homes

U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.67 million in December, representing a 5.8% increase from the previous month's figure, the U.S. Census Bureau reported Thursday. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.71 million, up 4.5% from November. Both figures came in ahead of analysts' expectations, reflecting growth in the single-family sector.

2021-01-21T13:37:21Z

Britons buying from EU websites face more than £100 in import duties

British shoppers who bought items from European websites are facing post-Brexit demands of more than £100 in import duties that must be paid before parcel firms will deliver the items. Despite claims by Boris Johnson that there would be tariff-free trade after the Brexit transition period ended on 31 December, consumers who bought items from EU websites are being chased for import duties, VAT and admin fees – which, they say, render the purchase...

2021-01-21T13:26:11Z

'No more broken treaties': indigenous leaders urge Biden to shut down Dakota Access pipeline

Indigenous leaders and environmentalists are urging President Joe Biden to shutdown some of America’s most controversial fossil fuel pipelines, after welcoming his executive order cancelling the Keystone XL (KXL) project. Activists praised Biden’s decision to stop construction of the transnational KXL oil pipeline on his first day in the White House, but they stressed that he must cancel similar polluting fossil fuel projects, including the...

2021-01-21T10:42:17Z

Red tape holding up $8.5 billion of works, Italy's Autostrade says

Red tape holding up $8.5 billion of works, Italy's Autostrade says

2021-01-21T13:41:58Z

Former M&S boss Stuart Rose to chair Asda buyer EG Group

The billionaire brothers buying Asda have hired former Marks & Spencer boss Stuart Rose to chair their EG Group business. EG, a chain of 6,000 petrol stations owned by the Blackburn-based Issa brothers and private equity group TDR, has appointed Lord Rose as non-executive chairman with immediate effect as it prepares to expand with the Asda acquisition. The veteran retailer also chairs the online groceries firm Ocado but is due to stand down in...

2021-01-21T13:39:50Z

Ladbrokes owner Entain appoints its first female boss

Entain confirmed it has hired Jette Nygaard-Andersen as its new chief executive to replace outgoing Shay Segev, who quits today as a director, but will stay on to help the leadership transition.

2021-01-21T10:58:21Z

UK's Glastonbury Festival cancelled again this year, organisers say

UK's Glastonbury Festival cancelled again this year, organisers say

2021-01-21T13:01:18Z

Biden bounce peters out for European stocks

European stock markets' bounce from Joe Biden taking office as US president petered out Thursday. Attention switched to the European Central Bank, which meets Thursday to take stock of their monetary stimulus efforts as more infectious strains of the coronavirus and stricter shutdowns cloud the eurozone economic outlook. The euro hit a six-month low versus sterling, with the British currency buoyed by the UK's early vaccine rollout, analysts...

2021-01-21T03:03:29Z

The economy — and the stock market — tends to do better under Democrats

Here's what the data shows going back to Eisenhower.

2021-01-20T16:22:02Z

Gold prices try to extend climb to 2-week peak, head for 3rd straight gain

Futures for gold Thursday were moving slightly higher for a third straight day as the precious metal extended its climb above a roughly two-week peak.

2021-01-21T13:37:25Z

Ladbrokes owner Entain appoints female chief executive

Entain, the gambling company behind the Ladbrokes and Coral brands, has appointed a female chief executive in a move that raises the number of women leading FTSE 100 businesses to six. The bookmaker has hired one of its non-executive directors, Jette Nygaard-Andersen, to replace Shay Segev, who departed abruptly last week. Segev left to join sports streaming company DAZN as Entain tried to repel a takeover attempt by American casino owner MGM...

2021-01-21T11:00:09Z

Aust shares higher before Biden era begins

Australia's share market has closed higher, as attention turns to the swearing in of US president-elect Joe Biden and his economic stimulus plan.

2021-01-20T01:52:46Z

Amazon offers to help with Covid-19 vaccine effort

Tech colossus Amazon on Wednesday offered to put its vast operation to work helping President Joe Biden get 100 million Americans vaccinated against Covid-19 in the next 100 days. Chief of Amazon's worldwide consumer business Dave Clark sent a letter to Biden urging that its workers get vaccinated as early as possible and offering to put the company's resources to work in the broader vaccination effort.

2021-01-20T21:25:29Z

If you support green energy, you should buy utilities and oil stocks — here’s why

Some ESG investors say divestiture doesn't get companies to change.

2021-01-21T13:37:25Z

Pets at Home sees festive sales soar as it enjoys 'essential' status

On a like-for-like basis, the retailer saw sales rise 19.3 per cent in December, with its vet arm sales up over 21 per cent, fresh figures have revealed today.

2021-01-21T12:13:17Z

Banks pressuring customers to make unrealistic loan repayments as deferrals end

As a pause on home loan repayments begins to lift, banks are asking customers to make large lump sums or add $1,000 a month to their repayments to clear up what they owe in arrears.

2021-01-20T05:52:47Z

Ethereum has broken its all-time high. Here's why one analyst thinks it could hit $US2,500 this year.

Ethereum broke its all-time high this week before tumbling alongside Bitcoin on Thursday. The cryptocurrency looks to have plenty of upside according to eToro cryptocurrency analyst Simon Peters.

2021-01-21T00:55:12Z

Best savings accounts: Where can I beat inflation?

The new year has brought the same old problems for savers as they continue to struggle to find accounts which keep up with the rising cost of living.

2021-01-21T10:28:15Z

Firm linked to Tory donor Lord Ashcroft wins £350m Covid contract

A company linked to the Conservative party donor and former treasurer Lord Ashcroft has been awarded a contract worth £350m by the government to provide laboratory staff for the Covid-19 testing operation. The contract, awarded to Medacs Healthcare plc, which has an ongoing contractual “framework agreement” with the Department of Health and Social Care (DHSC) and provides locum doctors, nurses and other staff to the NHS, is one of the largest...

2021-01-21T12:41:11Z

Aust medicinal cannabis ships to Europe

Australia has started exporting medicinal cannabis to Europe with the first batch in a decade-long, $92 million export deal on its way to Germany.

2021-01-21T02:23:54Z

Bank of Japan revises up growth outlook for next two years

The Bank of Japan on Thursday revised its growth outlook upwards for the next two years and maintained its ultra-loose monetary policy as it warned that the pandemic makes clear forecasts less likely. The bank warned in its report that its latest forecasts "could change depending on the consequences of Covid-19 and the magnitude of their impact on domestic and overseas economies".

2021-01-21T05:03:35Z

v2food has launched the next iteration of its plant-based meat product: sausages

v2food has released the next iteration of plant-based meat products. The company is rolling out v2sausages in Coles supermarkets this week for a limited time.

2021-01-20T04:24:21Z

Volkswagen faces EU fine for missing 2020 emissions targets

Volkswagen faces EU fine for missing 2020 emissions targets

2021-01-21T12:15:08Z

California WeChat users claim China surveillance in lawsuit

California WeChat users sued its parent company Tencent on Wednesday, saying the mobile app is used for spying on and censoring users for the Chinese government. US-based nonprofit Citizen Power Initiatives for China (CPIFC) filed the suit in Silicon Valley, joined by a half-dozen California residents in urging a state court to order Tencent to change its ways and pay damages. "As the global erosion of democratic values shows little sign of...

2021-01-21T01:33:23Z

ECB leaves policy unchanged, but makes a ‘slight hawkish’ tweak to statement

The European Central Bank, as expected, leaves interest rates and its asset-buying program unchanged Thursday after bolstering its stimulus efforts last month --- but one piece of new language attracts some attention.

2021-01-21T13:37:22Z

'Australia's largest energy class action' filed against Queensland power companies accused of driving up prices illegally

The law firm leading a major class action involving more than 47,000 people is looking for more people to register for reimbursement as it alleges two of the state's biggest power players artificially created a lack of supply to drive up prices.

2021-01-20T05:52:47Z

The federal government is singing praises for its $2 billion HomeBuilder scheme as data shows a boom for the construction industry

The commencement of new private sector housing projects jumped 4% over the September quarter of 2020, with the value of major home alterations and additions climbing by 6.4%.

2021-01-20T04:09:21Z

Roller coaster's observation deck will offer views of Mount Fuji

The observation deck will open at a summit of the Fujiyama roller coaster in the Fuji-Q Highland theme park, which lies in the shadow of Mount Fuji.

2021-01-21T13:32:15Z

Unemployment drops to 6.6pc, with 50,000 people starting work in December

After losing his job during the peak of the pandemic, Mitch thought he would never work again. But he recently joined 50,000 Australia's who nabbed a job in December as the country's recovery from coronavirus continues.

2021-01-21T00:53:18Z

We're about jobs, PM says as jobless fall

The unemployment rate dropped to 6.6 per cent in December from 6.8 per cent the previous month, the Australian Bureau of Statistics says.

2021-01-20T16:38:44Z

ECB keeps copious stimulus measures unchanged

ECB keeps copious stimulus measures unchanged

2021-01-21T12:51:55Z

Small rise in SA jobless rate in December

The South Australian government says more people now have jobs than before the COVID-19 pandemic despite a rise in the state's jobless rate.

2021-01-21T05:23:55Z

India stocks hit record highs on economic recovery hopes

Indian stocks hit record highs Thursday, tracking a global rally after the inauguration of US President Joe Biden and reflecting hopes of a domestic economic recovery following this month's vaccine roll-out. Indian IT firms including Infosys and rival Tata Consultancy Services (TCS) recorded strong profits in the October-December quarter, thanks to increased demand for digital services during the pandemic.

2021-01-21T06:33:29Z