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BUSINESS LIVE: Ofgem to fine Symbio Energy

As investors wait to hear the outcome of the US Federal Reserve policy meeting that ends today, the FTSE is set to fall this morning.


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.


Barbs fly over satellite projects from Musk, Bezos

A spat erupted Tuesday between Jeff Bezos and Elon Musk as the tech titans' space firms exchanged barbs over their rival satellite internet projects being evaluated by regulators. Amazon, founded and led by Bezos, put out a statement claiming Musk's rival SpaceX project Starlink was seeking design changes that could "create a more dangerous environment for collisions in space" and also increase radio interference. "Despite what SpaceX posts on...


Elon Musk once argued that Tesla should be a private company but Wall Street has proved him wrong

Musk believed that shareholders' obsession with the short-term hurts a company's long-term performance.


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 EU by the European Union Aviation Safety Agency (EASA), after a 22-month grounding following two fatal crashes. Marking a crucial step in its return to service, a modified version of the US company’s previously best-selling aeroplane has been given permission to fly again, although not until a package of checks and training is completed. The move does not...


U.S. stock futures move lower as investors focus on tech earnings, await Fed

Stock-index futures trade lower Wednesday, with investors focusing on a stream of earnings reports from technology companies and awaited the outcome of the Federal Reserve's first policy meeting of 2021.


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.


Hinkley Point C costs may rise by £500m on back of Covid crisis

The Covid-19 pandemic could delay construction of the Hinkley Point C nuclear reactor by six months and raise its costs by £500m, according to its developer. The fresh delays are expected to take the cost of the UK’s first new nuclear power plant in a generation to £23bn, said EDF Energy, and delay its launch to the summer of 2026. Prior to the coronavirus outbreak, Hinkley Point was expected to start up by the end of 2025, at a cost of between...


Moderna: U.S. gov plans to order an additional 100 million doses of its COVID-19 vaccine

Shares of Moderna Inc. were down 2.1% in premarket trading on Wednesday after the company said it was in talks with the U.S. government to supply an additional 100 million doses of its COVID-19 vaccine. The delivery, which would occur in the third quarter of 2021, would bolster the U.S. government's total order from Moderna to 300 million doses. Moderna's vaccine requires two doses so that means the company could be supplying doses for 150...


BlackRock CEO says bullish on outlook for green investment

BlackRock CEO says bullish on outlook for green investment


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.


Sales surge for sofa firm ScS as lockdowns put focus on homes

The sofa retailer ScS experienced surging sales over the past six months as locked-down consumers opted to spend money on new furniture for their homes. Gross sales at ScS rose by 13.9% over the 26 weeks to 23 January to reach £182.3m, compared with sales of £160m a year earlier. However, the company, one of the UK’s largest retailers of upholstered furniture, and flooring, said new orders had slumped over the past month, with renewed...


Global carbon markets value surged to record $277 billion last year - Refinitiv

Global carbon markets value surged to record $277 billion last year - Refinitiv


Keep Covid rescue programmes or risk triggering stock market crash, warns IMF

Governments and central banks must maintain their pandemic rescue programmes or risk triggering a stock market crash, the International Monetary Fund has said. Warning that there were legitimate concerns about a share price bubble, the Washington-based organisation said that without continued low interest rates and government subsidies it was possible a “correction” in stock markets would occur. In a report issued to coincide with the World...


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.


Little change expected as Fed ends first meeting of Biden era

The Federal Reserve will on Wednesday conclude its first meeting since US President Joe Biden took office, and while the central bank is certain to comment on the health of the country's economy amid the Covid-19 pandemic, analysts say it's unlikely to change its main policies. Powell has repeatedly highlighted the need for government spending to take over the role of supporting the economy from the central bank.


Shaquille O'Neal sells his massive Florida mansion for $16.5 million

The 48-year-old former NBA star originally put his 31,000 square foot mega-mansion on the market in 2018 for $28 million, but it finally sold after he reduced the price to $16.5 million.


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.


Textile waste presents 'untapped' potential for entrepreneurs as Bathurst runs recycling trial

Participants in a NSW textile recycling trial have donated more than 1,600kg of unwanted fabrics in the space of a month and organisers say they're overwhelmed by the response.


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.


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.


Think higher inflation is coming? The Fed will believe it when it sees it

The Federal Reserve will not get caught up in optimism about the economic outlook, taking a believe-it-when-I-see-it stance, according to economists at Jefferies.


China's Ant Group plans revamp amid regulator pressure - WSJ

China's Ant Group plans revamp amid regulator pressure - WSJ


Boeing to delay 777X again as it posts record annual loss

Boeing to delay 777X again as it posts record annual loss


How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investors

The coronavirus pandemic hit GameStop hard. Like many retailers, already suffering from the shift to online sales, the video games chain is losing money and plans to close 450 stores this year. And yet, surprisingly, GameStop has become one the hottest stocks of the year. The 37-year-old chain store group is now the focus of a David-and-Goliath battle between an army of small investors and Wall Street that shows no signs of abating and has...


Imperial Brands to focus on top five cigarette markets in turnaround plan

Imperial Brands to focus on top five cigarette markets in turnaround plan


Here are five ways the government could have avoided 100,000 Covid deaths

Yesterday Britain passed a grim milestone. A further 1,631 deaths from Covid-19 were recorded, taking the official tally above 100,000, though data from the Office for National Statistics suggests the total number will now be nearer 120,000. While the number of UK deaths has entered the hundreds of thousands, New Zealand has recorded only 25 deaths from Covid-19 so far. Taiwan has recorded seven, Australia 909, Finland 655, Norway 548 and...


Insurers face 'mind-blowingly' large loss if Olympics cancelled

Insurers face 'mind-blowingly' large loss if Olympics cancelled


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.


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...


Coles slashes the prices of items including pasta, cheese, and snacks

Coles has slashed the prices of popular grocery items including pasta, sliced cheese and snacks in a bid to help lower the cost of living for all Australians.


Plug Power stock tumbles after upsized public offering prices at 11% discount

Shares of Plug Power Inc. tumbled Wednesday, to pull back from a more than 15-year high, after the hydrogen-fuel company announced the sale of $1.8 billion worth of common stock to the public.


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.


$10 mn pay-cut for Goldman Sachs CEO over 1MDB scandal

Goldman Sachs cut its CEO David Solomon's 2020 salary by $10 million to $17.5 million because of the bank's role in the 1MDB Malaysian bribery scandal, according to documents filed Tuesday. "The amounts of remuneration reflect the decision announced by the board of directors," said a securities filing that also detailed pay-cuts for COO John Waldron and CFO Stephen Scherr. Although the three were not "aware of the firm's participation in any...


4 things the best financial advisers do for clients that put them ahead of the rest

These qualities and capabilities distinguish the top pros in the investment advice business.


Courteney Cox practices self care as she visits a spa in Malibu

Courteney Cox, 56, practices some midweek self care as she hits up a luxury spa in Malibu before emerging fresh faced


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.


Rio Tinto and BHP battle Apache tribes to build North America's biggest copper mine at sacred Oak Flat site

Rio Tinto promised "never again" after the destruction of ancient Aboriginal rock shelters at Juukan Gorge, but now it wants to mine sacred Apache land in the US and investors are concerned little has changed within the company since it appointed an insider as its new boss.


Financial markets are complacent and exuberant — a formula that raises risk of correction, IMF warns

A sense of complacency appears to be permeating financial markets and that raises risk of a correction, the IMF warned on Wednesday.


Online grocery shopping took off last year but can it be profitable?

Within a matter of weeks last year, supermarkets had to ramp up their digital operations as online customer orders went from a ripple to a deluge.


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...


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.


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.


Big tech facilitated QAnon and the Capitol attack. It’s time to hold them accountable

Donald Trump’s election lies and the 6 January attack on the US Capitol have highlighted how big tech has led our society down a path of conspiracies and radicalism by ignoring the mounting evidence that their products are dangerous. But the spread of deadly misinformation on a global scale was enabled by the absence of antitrust enforcement by the federal government to rein in out-of-control monopolies such as Facebook and Google. And there is...


European stocks drop on growing virus concerns

European stock markets sank Wednesday as coronavirus-linked fears eclipsed stimulus hopes and investors waited on the US Federal Reserve's first interest rate decision under President Joe Biden, dealers said. Investors also trod warily as they weighed distant hopes of a long-term recovery against immediate worries over Covid-19 infection rates and mutations, combined with slow vaccine rollouts. "Markets are on the slide as ongoing economic...


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.


Prison stocks tumble as Biden targets them with executive order

Prison stocks fall as President Joe Biden signs an executive order that would curtail the federal government's use of private prisons.


UK AstraZeneca vaccine plant partially evacuated over suspect package

UK AstraZeneca vaccine plant partially evacuated over suspect package


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".