News

U.S. Supreme Court wrestles with dispute over Baltimore climate suit

U.S. Supreme Court wrestles with dispute over Baltimore climate suit

2021-01-19T18:49:32Z

Calls for more help as international border stays closed due to COVID threat

With international borders likely to remain closed for much of 2021 Australia's tourism industry has demanded more financial support from the Government.

2021-01-18T14:17:31Z

Strong U.S. economic rebound will surprise markets and the Federal Reserve, says the best forecaster of 2020

In a competitive contest, Christophe Barraud of Market Securities won the Forecaster of the Year award, ousting nine-in-a-row champ Jim O'Sullivan of TD Securities.

2021-01-19T18:50:04Z

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.

2021-01-17T23:47:05Z

UK government accused of discriminating against maternity leave-takers

The government could be forced to award rebates to tens of thousands of self-employed women if a case accusing it of discriminating against those who have taken maternity leave is successful. About 75,000 women who took maternity leave between 2016 and 2019 lost out on earnings because payments from the self-employed income support scheme (SEISS) – introduced alongside the furlough scheme last year – are worked out based on average profits. The...

2021-01-19T17:38:42Z

Superdry's losses mushroom as store closures hit sales

Sales sank 23.4 per cent to £282.7million in the six months to October 24 at the Cheltenham-based fashion brand despite year-on-year online trade shooting up by around half.

2021-01-19T13:40:07Z

GM teams up wtih Microsoft on Cruise self-driving vehicle

General Motors announced Tuesday it is joining forces with Microsoft on its Cruise autonomous driving venture, with the tech giant coming on board as an investor and technology partner as it pushes to commercialize self-driving technology. "Microsoft, as the gold standard in the trustworthy democratization of technology, will be a force multiplier for us as we commercialize our fleet of self-driving, all-electric, shared vehicles."

2021-01-19T15:22:58Z

Eating more Bisto and Sharwood's gives Premier Foods a boost

The food manufacturer also said greater spending on television advertising contributed to pushing up purchases by 9 per cent in the 13 weeks to Boxing Day.

2021-01-19T17:55:48Z

These copper-exposed stocks can surge in 2021 as tailwinds line up, Morgan Stanley says

Copper-exposed stocks could be set to surge in 2021 and a buying opportunity may be around the corner, Morgan Stanley analysts said on Monday.

2021-01-18T14:16:05Z

Open all hours: Round-the-clock vaccination sites to be piloted in England in COVID-19 drive

England is vaccinating around 140 people a minute.

2021-01-18T14:01:09Z

Gold sales surge at the Royal Mint in the festive period

As overall gold sales leapt fivefold, the Royal Mint said customers flocked to invest online and physically, with 1g and 5g gold bar sales up 53% in November and December.

2021-01-19T16:25:34Z

Goldman Sachs earnings surge amid pandemic upheaval

Goldman Sachs reported another blowout quarter Tuesday to conclude a highly profitable 2020 despite the coronavirus pandemic, which provided lucrative opportunities to the investment bank while battering much of the US economy. For all of 2020, Goldman Sachs reported profits of $8.9 billion, up 13 percent, on a revenue increase of 22 percent to $44.6 billion.

2021-01-19T18:53:24Z

Homelessness crisis looms as Western Australia's coronavirus rental moratorium due to expire

Western Australia is set to see increased levels of insecure housing and homelessness due to rental hikes of up to 20 per cent after the state's moratorium ends, Anglicare warns.

2021-01-19T00:22:44Z

'We won't have much of a tourism industry left': Tourism boss calls for JobKeeper extension as borders stay shut

The head of Australia's peak tourism industry body has called for an extension to the JobKeeper subsidy to counteract the continuing financial strain caused by international and domestic border closures.

2021-01-19T01:35:42Z

Yellen to urge Congress to 'act big' to help US economy

US President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen, will urge lawmakers Tuesday to support big stimulus spending for the coronavirus-ravaged US economy, according to prepared remarks seen by AFP. Biden, who will take office on Wednesday, has proposed a $1.9 trillion rescue package to help businesses and families struggling amid the pandemic, and Yellen would be tasked with getting that massive bill through a Congress...

2021-01-19T14:52:56Z

Demand for servicing and installation of boilers is down 34%

Demand for installing, servicing and repairing energy-efficient boilers has sunk by 34 per cent, compared to the same time as last year, as households reign in spending.

2021-01-19T13:09:59Z

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%.

2021-01-18T03:03:45Z

Electric vehicle maker Rivian valued at $27.6 bn in funding round

Electric vehicle maker Rivian on Tuesday said it raised $2.65 billion in a new funding round valuing the Amazon-backed US company at $26.7 billion. Investors included Amazon's Climate Pledge Fund and Fidelity Management and Research, according to Rivian. "This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles," Rivian founder and chief executive RJ Scaringe said in a release. "The support...

2021-01-19T18:38:32Z

Vauxhall plant at risk after 'brutal' 2030 ban, says Stellantis boss

The future of Vauxhall’s UK car production will depend on government support after the “brutal” decision to ban the sale of new petrol and diesel cars from 2030, according to the boss of Stellantis, the newly formed carmaker. Stellantis was officially created on Saturday after the completion of the merger between Fiat Chrysler Automobiles and Peugeot, the owner of the Vauxhall brand. The merger, first announced in October 2019, has created a...

2021-01-19T18:57:59Z

NRL players accept 2021 cut to salary cap

NRL players have agreed to take a pay cut with the salary cap reduced by 6 per cent as the game deals with the financial implications of the COVID-19 pandemic.

2021-01-19T04:19:37Z

From Facebook to News Corp: here are the 5 most interesting submissions to Kevin Rudd's media diversity inquiry so far

After a public campaign led by Kevin Rudd for a royal commission into media diversity in Australia, the Senate agreed to establish an inquiry late last year.

2021-01-19T02:20:52Z

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.

2021-01-18T04:17:03Z

California households owe $1bn in water bills as affordability crisis worsens

The magnitude of America’s water affordability crisis has been laid bare by shocking new data from California where debt owed on water bills has hit $1bn and one in every eight households is currently in arrears. A survey by the state water board found at least 1.6m households are behind on water bill payments. The average debt is $500, but 155,000 or so households are in real trouble, owing more than $1,000 each and accounting for half the...

2021-01-19T17:38:50Z

‘Harmful outcomes’: The US has urged Australia to ditch its plan to force Facebook and Google to pay for news

US trade representatives say Australia's draft media bargaining code is "fundamentally unbalanced", with consequences that could "significantly harm Australian consumers".

2021-01-19T04:35:57Z

GM stock soars toward another record after Microsoft partnership on driverless cars

Shares of General Motors Corp. shot up into record territory Tuesday, after the automaker said it was partnering with Microsoft Corp. to speed up the commercialization of driverless cars.

2021-01-19T16:19:43Z

Gold futures finish higher for the session

Gold futures finished higher on Tuesday, with the gain "clearly" related to the move in the U.S. dollar, spurred on by Janet Yellen, President-elect Joe Biden’s nominee to head the Treasury Department, who called for "additional stimulus programs in the coming weeks or months," said Jeff Wright, executive vice president of GoldMining Inc. From her experience with the Federal Reserve, "she talks about a strong U.S. dollar but then pursues actions...

2021-01-19T18:50:00Z

Black and minority-ethnic UK workers hit worst by Covid job cuts

Black and minority-ethnic (BME) workers have suffered the brunt of job cuts during the pandemic, according to analysis that shows the number in employment has dropped by 26 times more than the drop in white workers over the same period. The employment rate for people from BME backgrounds slumped 5.3% in the year to September 2020, compared with a 0.2% decrease in the number of employed white workers. The TUC called on the government to act...

2021-01-19T18:57:54Z

Consumers yet to share PM's upbeat view

Consumer confidence has softened in the early stages of 2021, but Prime Minister Scott Morrison insists better times are ahead.

2021-01-19T16:36:22Z

A new generation of digital payday lenders are springing up in Australia as demand for short-term loans surges

A new breed of digital payday lenders are popping up in Australia, with the lending niche growing five times larger in just 12 months. Joining an array of app-based competitors, the Commonwealth Bank is offering its own pay advance feature to customers.

2021-01-19T05:21:06Z

Australians racked up $24 billion in credit card debt for Christmas, as the country remembers how to spend again

More than $24 billions was spent on Australian credit cards over the Christmas period, according to RBA forecasts. Although lower than last year, the figure remains substantial, amounting to $1,748 per card, Finder analysis found.

2021-01-19T00:50:29Z

How has the pandemic affected Britain's productivity?

Year-on-year output per hour increased by 4 per cent over the period, marking the biggest annual jump since the final quarter of 2005, the ONS said today.

2021-01-19T15:55:26Z

Brussels says it won't be rushed on City of London access to EU

Brussels says it won't be rushed on City of London access to EU

2021-01-19T18:13:00Z

Explainer: How Biden could use his whole government to take on climate change

Explainer: How Biden could use his whole government to take on climate change

2021-01-19T17:16:23Z

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.

2021-01-17T01:46:29Z

U.S. court deals final blow to Trump EPA's clean power rule replacement

U.S. court deals final blow to Trump EPA's clean power rule replacement

2021-01-19T18:32:42Z

Global sales of electric cars accelerate fast in 2020 despite pandemic

Global sales of electric cars accelerated fast in 2020, rising by 43% to more than 3m, despite overall car sales slumping by a fifth during the coronavirus pandemic. Tesla was the brand selling the most electric cars, delivering almost 500,000, followed by Volkswagen. Sales of electric cars more than doubled in Europe, pushing the region past China as the world’s biggest market for them, according to data published on Tuesday by EV-volumes.com,...

2021-01-19T17:28:29Z

Fixed interest rates may have reached rock bottom, say economists

If the Reserve Bank has no more three-year government bonds to buy by mid-2021, it may no longer be able to put downwards pressure on the benchmark yield for banks fixed mortgage products.

2021-01-19T18:51:12Z

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.

2021-01-17T18:46:48Z

Superdry issues going concern warning as Covid-19 hurts sales

Superdry shares have fallen sharply after the fashion brand issued a going concern warning, although the company’s founder insisted the business would survive the turmoil caused by the pandemic. The company’s shares closed down 16% after the uncertainty hanging over the business’s future was compounded by a gloomy financial picture of widening losses and a steep decline in sales over the key Christmas weeks. Julian Dunkerton, the company’s...

2021-01-19T10:43:18Z

Aust shares more than one per cent higher

A broad-based rally on the ASX has produced investors' best day in more than a week, as US politicians lobby peers to pass economic stimulus.

2021-01-19T01:49:14Z

French series 'Lupin' tops 'Queen's Gambit' views on Netflix

The Netflix-produced series "Lupin", a sly modern take on France's beloved gentleman thief, is on track for 70 million views worldwide in its first month, setting a record for a French TV show, the streaming platform said Tuesday. The 1905 book on which the series is loosely based, "Arsene Lupin -- Gentleman Burglar" by French novelist Maurice Leblanc -- has shot to the top of book sales on Amazon.fr since the release of the TV show.

2021-01-19T13:37:48Z

Malaysia files WTO complaint over EU palm oil restrictions

Malaysia has filed a complaint with the World Trade Organization over European Union rules affecting the consumption of palm oil-based biofuels, according to a document published Tuesday. Malaysia is the second country to take the EU to task over palm oil use restrictions, after the world's largest producer of the oil filed a complaint in December 2019.

2021-01-19T18:16:13Z

New home sales surge as economy recovers

New home sales rocketed in December as people rushed to get the federal government's $25,000 HomeBuilder grant before it was reduced at the turn of the year.

2021-01-18T16:32:57Z

Shell pulls out of joint venture to build UK sustainable jet fuels plant

Shell has pulled out of a joint venture with British Airways and Velocys to build a flagship sustainable jet fuels plant in the UK – in a blow to Boris Johnson’s claims that Britain could deliver the world’s first zero-emission long-haul flight. The oil firm was named last year as one of the top companies set to “turbocharge government plans” for sustainable aviation fuels, the centrepiece of the so-called “jet zero” plan to decarbonise flights....

2021-01-19T17:59:14Z

Analysis: Mexican president's energy reform threat faces U.S. reality check

Analysis: Mexican president's energy reform threat faces U.S. reality check

2021-01-19T18:37:55Z

Is your local HSBC branch closing soon? Bank exits more locations

HSBC said the closure decisions have been made in response to 'market trends, customer behaviour and branch usage.'

2021-01-19T12:54:57Z

Tyro close to restoring EFTPOS connections

A problem with Tyro EFTPOS terminals, which has left many businesses unable to collect payments, could be resolved by the end of the week.

2021-01-19T04:34:37Z

BoE's Haldane sees rapid economic recovery from COVID hit

BoE's Haldane sees rapid economic recovery from COVID hit

2021-01-19T18:38:00Z

Why dollar bears aren’t afraid of Janet Yellen

Dollar bears didn't exactly scurry away when Janet Yellen, former Fed chair and President-elect Joe Biden's pick to serve as Treasury secretary, said the incoming administration won't seek a weaker dollar in a bid to gain a competitive advantage.

2021-01-19T18:50:02Z

Advocates urge for rise to JobSeeker rate

Australia's peak welfare group is urging the government to increase the long-term rate of JobSeeker by at least $25 per day to ensure people can afford basics.

2021-01-18T16:32:58Z