Markets

AMD earnings: If Intel gets its act together, can AMD maintain swollen valuation?

After Advanced Micro Devices Inc. capitalized on Intel Corp.'s missteps in 2020, billions of dollars depends on the company continuing on that path as its larger rival attempts to right itself.

2021-01-22T22:09:19Z

NBC Sports shakeup: NHL, Nascar and Premier League to move to USA Network, WWE to be available on Peacock

The WWE will move to NBC streaming service Peacock as part of a $1 billion deal.

2021-01-22T20:54:20Z

Mastercard to raise fees by at least 400% for EU firms selling to UK customers

Mastercard is to increase the fees EU firms face to take payments from online shoppers from the UK by at least 400%, in a move that could mean higher prices for consumers. When a credit or debit card is used, a percentage of the purchase price is paid by the retailer to the bank that issued it as an interchange fee, which is set by a payments firm. Mastercard’s interchange fee is currently 0.3% on credit card payments and 0.2% on debit card...

2021-01-25T17:05:46Z

MSCI to delete securities of 5 Chinese companies from some indexes in absence of guidance

MSCI to delete securities of 5 Chinese companies from some indexes in absence of guidance

2021-01-25T22:28:28Z

Listen-in social network Clubhouse readies for the masses

Invite-only audio social network Clubhouse is readying to let in the masses with the help of a fresh funding round reported to value it at nearly a billion dollars. The amount of cash prestigious Silicon Valley venture capital firm Andreessen Horowitz (a16z) is putting into Clubhouse was not disclosed, but the valuation was reported to be about a billion dollars.

2021-01-25T22:36:24Z

Big oil goes green: Shell buys electric car charging company

BP has dismantled its century old exploration team, cutting the division to less than 100 employees. And rival Shell bought Ubitricity, the UK's largest electric vehicle charging network.

2021-01-25T22:38:40Z

Jakarta meat sellers strike, Indonesia considers importing Mexican cattle as Australian cattle prices reach record highs

The Indonesian Government is reportedly looking to Mexico as an alternate source of live cattle, after Australian cattle hit record prices and Jakarta meat sellers go on strike.

2021-01-25T20:33:28Z

The Guardian view on Covid economics: worry about jobs, not the deficit

Last November, the Office for Budget Responsibility’s worst-case scenario figured that the double whammy of a lingering pandemic and a no-deal Brexit would see 4.2 million people out of work by 2022. The good news is that Britain clinched a deal with the EU before it left its regulatory orbit. The bad news is that the OBR’s worst-case scenario almost certainly underestimates the scale of the jobs crisis. Ministers have wilfully shut their eyes...

2021-01-25T19:12:08Z

Apple's hardware engineering chief to step down to focus on new project

Apple's hardware engineering chief to step down to focus on new project

2021-01-25T23:12:09Z

EU threatens to block Covid vaccine exports amid AstraZeneca shortfall

The EU has threatened to block exports of coronavirus vaccines to countries outside the bloc, after AstraZeneca was accused of failing to give a satisfactory explanation for a huge shortfall of promised doses to member states. The pharmaceutical company’s new distribution plans were said to be “unacceptable” after it “surprisingly” informed the European commission on Friday that there would be significant shortfalls on the original schedule. The...

2021-01-25T18:36:00Z

Nuclear and carbon capture may form bipartisan (re)starting point on climate change

Democratic Sen. Chris Coons of Delaware says it's a "false choice" that pursuing climate-change policy hurts the U.S. economy.

2021-01-25T20:02:16Z

Postgraduate enrolments soar as jobseekers wait out competitive market at university

They're qualified and keen but the work simply is not there for many Australians doing it tough. Instead they're weathering the storm at university in numbers tipped to reach record highs.

2021-01-24T20:29:58Z

Fears for shop worker jobs as Asos closes in on Topshop rescue

Rival bidders are waiting in the wings but Asos has stolen a march in the frenzied bidding war for the jewel in the crown of Sir Philip Green's collapsed Arcadia empire.

2021-01-25T22:53:37Z

Oxfam report says rich getting richer and poor getting poorer amid coronavirus pandemic

With unprecedented support from global governments, the stock market has boomed, driving up billionaire's wealth even while the real economy has faced the deepest recession in a century and the poor have gotten poorer.

2021-01-25T04:00:57Z

National Grid should lose role as electricity system operator, says Ofgem

National Grid could lose its role of keeping Britain’s lights on after the energy regulator called for a new and independent electricity system operator to help steer the UK towards its climate targets. Ofgem has called for National Grid to be stripped of its role after 30 years balancing the electricity grid because the energy company also owns energy networks. The regulator warned this could create a conflict of interest in the future as the...

2021-01-25T10:48:23Z

Mexican billionaire Carlos Slim has COVID-19

The son of Mexican billionaire Carlos Slim announces that his father has COVID-19 and is responding to treatment.

2021-01-25T22:47:34Z

ASX closes up 0.36pc, AUD at 77.4 US cents

Investors favoured consumer and technology stocks, and the ASX closed higher, ahead of earnings season.

2021-01-25T02:01:19Z

Two men and a woman charged over alleged million-dollar gold theft at Coolgardie's Greenfields Mill

Three people are charged in connection with an alleged million-dollar gold theft in Western Australia's Goldfields, in which police say more than 8,000 tonnes of gold-bearing ore was stolen from a processing plant near Coolgardie.

2021-01-25T06:16:44Z

Bitcoin's days are numbered, warns Bank of England governor

Speaking on a panel about digital currencies at the World Economic Forum's online Davos Agenda, Andrew Bailey said that digital innovation in payments was 'here to stay'.

2021-01-25T22:23:35Z

Bookshops defy pandemic to record highest sales for eight years

More than 200m print books were sold in the UK last year, the first time since 2012 that number has been exceeded, according to an estimate from official book sales monitor Nielsen BookScan. Despite the coronavirus pandemic causing a series of lockdowns around the country – bookshops in England were closed from 23 March until 15 June, and then again from 5 November until 2 December, with differing lockdowns in place around the rest of the UK –...

2021-01-25T17:40:26Z

Transforming Australia's recycling system could pump billions into the economy, the CSIRO says in a major report

Australia could boost its GDP by $1 billion per annum by boosting its recycling capacities by 5%, according to a new CSIRO report. The major paper makes the economic and environmental case for an Australian 'circular economy' based on reducing waste and repurposing materials.

2021-01-25T01:32:41Z

Biden’s policies will hurt prison stocks, analysts say

President Joe Biden's pledge during the 2020 campaign to "end the federal government’s use of private prisons" has analysts predicting trouble for publicly traded companies that run those facilities.

2021-01-25T22:47:34Z

World lost equivalent of 255 mn jobs in 2020: UN

The coronavirus pandemic took a huge toll on global jobs last year, the United Nations said Monday, with the equivalent of more than a quarter of a billion lost. That is equivalent to 255 million full-time jobs, or "approximately four times greater than the number lost during the 2009 global financial crisis," the ILO said in a statement.

2021-01-25T12:27:18Z

China exports buoy Australia trade surplus

Australia recorded a $9 billion goods trade surplus in December, up from $7.4 billion in November, the Australian Bureau of Statistics says.

2021-01-25T01:16:24Z

Jab approval injects business positivity

As Australia's medicines regulator gives the tick of approval for the first coronavirus vaccine, the business community is anticipating a boost in confidence.

2021-01-25T03:16:32Z

Inflation likely ended 2020 still subdued

The consumer price index is expected to have risen 0.7 per cent in the December quarter, keeping the annual rate also at 0.7 per cent.

2021-01-24T02:13:03Z

HENRY DEEDES watches Work and Pensions Secretary on GMB

HENRY DEEDES: Over the past few months, a climate of fear has been brewing at the heart of Government.

2021-01-25T22:56:56Z

General Mills increases dividend by 4%

General Mills Inc. said late Monday its board of directors has declared a quarterly dividend of 51 cents a share, payable May 3 to shareholders of record on April 9. That's a 4% increase over the dividend paid a year ago. General Mills and its predecessor company have paid dividends without interruption for 122 years, it said. Shares of General Mills were flat in the extended session Monday after ending the regular trading day up 3.5%.

2021-01-25T23:02:36Z

New Zealand shares fall most in a week; Australia closed

New Zealand shares fall most in a week; Australia closed

2021-01-25T21:41:54Z

Stocks slide on possible virus restrictions

European stock markets fell Monday on news that France might be headed for a fresh lockdown over the coronavirus pandemic. In New York, the Dow Jones index was also lower in midday trading, but the main Asian markets ended higher. The dollar traded mixed, while oil prices edged higher. "Renewed lockdowns and restrictive measures globally are dragging down the European bourses," commented Edward Moya, a market analyst at Oanda. "A steady stream...

2021-01-25T17:13:38Z

Bitcoin, crypto inflows hit record last week - CoinShares

Bitcoin, crypto inflows hit record last week - CoinShares

2021-01-25T23:05:36Z

WA Government launches police recruitment drive as Liberals pledge millions for trade

The State Government has launched a $1.8 million advertising blitz to recruit police officers following its budget commitment to add an extra 800 police if re-elected in March.

2021-01-24T08:13:17Z

Leon Black to step down as Apollo CEO post after Epstein review

Leon Black to step down as Apollo CEO post after Epstein review

2021-01-25T23:00:40Z

Aussies paying $140,000 to stay connected

Bills for the internet, mobile phones and streaming services quickly add up, but a changing market and 5G entering the fray means the chance for a better deal.

2021-01-23T00:11:01Z

Treasurer Josh Frydenberg has accused Facebook and Google of 'shifting the goalposts' over the media bargaining code

Treasurer Josh Frydenberg has accused Google and Facebook of “shifting the goalposts” over the proposed media code, saying the tech giants were doing a disservice to Australians by threatening to shut down their search engines.

2021-01-25T01:17:34Z

Pro-Trump lawyer Lin Wood fired by teen who faced off with Native American in viral video

Pro-Trump lawyer Lin Wood fired by teen who faced off with Native American in viral video

2021-01-25T22:05:11Z

Crane Co. Q4 sales fall amid shipping delays related to COVID-19 spike

Crane Co. shares fell in the extended session Monday after the industrial company reported an adjusted quarterly profit below Wall Street expectations. Crane said it earned $47 million, or 80 cents a share, in the fourth quarter, contrasting with a loss of $1.89 a share in the year-ago quarter. Adjusted for one-time items, Crane earned $1, compared with $1.58 a year ago. Sales fell 13% to $726 million, with the decline in core sales...

2021-01-25T22:32:28Z

Debenhams deal and Topshop talks put more than 20,000 jobs at risk

More than 20,000 high street jobs are at risk after the online retailer Boohoo bought the Debenhams brand and its rival Asos said it was poised to buy Topshop. Debenhams, which traces its roots back to 1778, will disappear from the high street with the likely loss of up to 12,000 jobs after the £55m Boohoo deal, which does not include the department store chain’s high street operation. As part of the deal, Boohoo will buy the retailer’s Maine,...

2021-01-25T20:55:19Z

'Health' tonic with your ENTIRE daily sugar limit in one dose

With wintry weather adding to lockdown malaise, a 'health tonic' might seem like just what the doctor ordered. We asked dietitianHelen Bond to assess a selection.

2021-01-25T22:41:37Z

Australian seafood is bountiful and these tasty, inexpensive types are yet to find their customer

Australians have access to thousands of locally-caught commercial fish species, but most people only eat about 20 types. Is it time to try something a little more unusual?

2021-01-25T03:15:58Z

Leon Black to step down as Apollo CEO after Epstein review

Leon Black to step down as Apollo CEO after Epstein review

2021-01-25T22:23:31Z

Australia Day is no longer an obvious and uncontroversial commercial winner for brands. Here's how the conversation has changed.

Australia Day used to be an obvious and uncontroversial occasion for brands to endear themselves to Australian consumers. No longer. There has been a decided shift over the past decade in commercial attitudes to January 26, acknowledging the problematic nature of the date’s choice as our day of national celebration to our First Nations.

2021-01-25T00:32:53Z

GameStop extends wild ride on Wall Street

GameStop continued its wild Wall Street ride on Monday with a dizzying climb seemingly powered by online chatter about the struggling video game retailer with a devoted fan base. A "GME to the Moon" hooded sweatshirt for sale at handmade e-commerce website Etsy was emblazoned with an image of a beloved character from video game "Fallout" riding a rocket skyward.

2021-01-25T18:20:40Z

MARKET REPORT: Blow to airline shares as Covid curbs set to tighten

The measures being considered to prevent the spread of strains from Brazil and South Africa include requiring some or all international arrivals to quarantine in hotels for up to two weeks.

2021-01-25T22:38:38Z

China, New Zealand upgraded free trade deal to be signed on Tuesday - sources

China, New Zealand upgraded free trade deal to be signed on Tuesday - sources

2021-01-25T21:11:53Z

Debenhams shuts stores, costing 12,000 jobs

UK department store chain Debenhams is to shut all its outlets, administrators for the collapsed group said Monday, with the loss of around 12,000 jobs. Debenhams, which has long struggled with fierce online competition, will see its brand live on however after British online fashion group Boohoo bought the group's intellectual property assets. Boohoo-rival ASOS meanwhile announced it was in exclusive discussions with the administrators of...

2021-01-25T13:32:09Z

Google announces plan to tackle privacy issues in online advertising

Google has announced a plan to tackle privacy issues in online advertising, as the company attempts to chart a middle ground between Apple’s privacy-first approach and the needs of advertisers – including itself. Google will use AI to bundle an individual user with similar visitors in an attempt to convince users that they don’t need to block all tracking on the internet to preserve their privacy. It will also use a “trusted server” to store...

2021-01-25T17:41:35Z

Tractor rally aims to overshadow India's show of military might

Thousands of farmers on tractors gathered outside New Delhi on Monday, gearing up to rival an annual parade of tanks and troops on India's Republic Day in a protest against the government's agricultural reforms. Since November, protesters have camped at the entry points to New Delhi, opposing farming laws which they say will invite conglomerates to dominate the agricultural sector. Farmers plan to stage a huge rally involving tractors on...

2021-01-25T12:53:07Z

NSW to play Cupid to boost R&D funding

A matchmaking platform linking research providers to investors will be launched as part of the NSW government's new R&D action plan.

2021-01-25T06:16:54Z

Rooney defers portion of his wage to help Derby through cash crisis

EXCLUSIVE: Rooney was instrumental in persuading other members of the squad to accept wage deferrals when he was a player at Pride Park last season, and has taken a similar approach as boss.

2021-01-25T23:08:16Z