Stocks

Tesla’s new $950 stock price target at Wedbush is the highest on Wall Street, but the analyst still won’t say buy

Tesla Inc. got a another bullish endorsement Friday from Wedbush's prolific analyst Dan Ives, who raised his stock price target by 33%, but he still won't recommend investors buy the stock.

2021-01-15T12:28:44Z

Large US banks eye improving economy after rocky 2020

Large US banks reported Friday a mixed fourth quarter to conclude a turbulent year, but expressed optimism about 2021 thanks to the coronavirus vaccine and additional fiscal stimulus. But "we've got the vaccine coming, we've got fiscal stimulus and people have saved a lot of money," Dimon said on a conference call with reporters.

2021-01-15T17:02:19Z

It's now clear this government wants UK workers to have as little power as possible

As workers, families and businesses negotiate the hardest of hard times in this pandemic – trying to stay safe, care for their kids, fulfil their working responsibilities and keep their firms afloat – we now discover that some ministers’ thoughts are elsewhere. Now, in this post-Brexit Britain, they are planning their vision of the future. Unfortunately, it’s one that threatens to make our profound injustices far worse. That future involves...

2021-01-15T15:08:35Z

Strong demand for home loans despite virus

Low interest rates and government housing stimulus measures resulted in a record jump in home loans in November.

2021-01-14T16:44:38Z

Fair Work is taking cafe chain 85 Degrees to court over a fake internship program which allegedly underpaid foreign workers

Cafe chain 85 Degrees is being taken to court by the Fair Work Commission after allegedly underpaying workers almost $430,000 over a 12-month period.

2021-01-15T05:01:26Z

How telecom firms are helping their customers this lockdown

This is Money spoke to the top broadband companies to find out what help they are offering their customers during the third national lockdown.

2021-01-15T08:33:53Z

U.S. holiday sales rise 8.3% in 2020 as stimulus checks boost spending: NRF

U.S. holiday sales rise 8.3% in 2020 as stimulus checks boost spending: NRF

2021-01-15T17:36:57Z

Covid crisis prompts financial fears for those organising funerals

A third of people organising a funeral in the UK because of Covid-19 found meeting the costs caused them financial worries, according to the insurer SunLife. The pandemic also contributed to a fivefold surge in no-frills direct cremations, where there is no funeral service and no family or friends present, the annual report on the cost of dying found. This type of simple, low-cost funeral is typically cheaper than ever, the report says, costing...

2021-01-15T13:32:24Z

These are the top 10 fastest growing job searches in Australia, according to Gumtree

Gumtree has revealed the top 10 fastest growing job search terms on its platform. Topping the list are searches for waitressing, hospitality and retail.

2021-01-15T05:01:32Z

Companies donate to Biden’s inauguration: It’s ‘a way to try to ingratiate yourself with an incoming president,’ expert says

As President-elect Joe Biden prepares to take office on Wednesday, prominent U.S. companies are making donations toward his inaugural events, even as the proceedings will be largely online and scaled back.

2021-01-15T19:43:53Z

JPMorgan Chase scores record profit, lowers reserves for bad loans

JPMorgan Chase reported Friday a jump in fourth-quarter profits on strength in investment banking and some consumer lending businesses as it released some reserves taken earlier in the pandemic. The profits included $1.9 billion in credit benefits, reflecting that the bank now expects fewer loan defaults compared with last year when coronavirus shutdowns prompted JPMorgan to set aside huge reserves in case of a much sharper economic downturn.

2021-01-15T13:01:56Z

Objective flags 70 per cent H1 profit rise

Software group Objective Corporation has hit a record share price after flagging a 70 per cent rise in first-half net profit.

2021-01-15T00:59:53Z

Vaccine passports: what are they and do they pose a danger to privacy?

Vaccine passports, which would allow people with immunity to Covid to prove they were at low risk of spreading the disease, are being investigated by companies and countries around the world. But the proposals have also raised fears among critics that they could underpin an oppressive digital ID system, and put sensitive medical records in the hands of authorities and employers. Despite the name, a vaccine passport is not a piece of paper;...

2021-01-15T17:47:26Z

Tyler Perry to receive honorary statuette at Oscars

US filmmaker Tyler Perry will receive an honorary statuette at this year's Oscars for his humanitarian work, including efforts to get the entertainment industry safely back to work during the coronavirus pandemic, the Academy announced Thursday. The Black entertainment mogul has set up a self-contained, 330-acre (133-hectare) production "campus" at a Civil War-era Confederate military base in Atlanta, Georgia, where hundreds have been employed...

2021-01-14T21:46:31Z

China's 2020 GDP growth slowest in over four decades: AFP poll

China's economy grew last year at its slowest pace since transformative market reforms of the 1970s, according to an AFP poll of economists, but finished the year strongly on an accelerating coronavirus recovery. "We think China's economy will show a strong rebound this year," said Raphie Hayat, a senior economist with Rabobank.

2021-01-15T03:09:43Z

Record number of buy-to-let landlord companies set up in 2020

A total of 41,700 new holding companies for buy-to-let properties were formed in 2020, according to estate agent Hamptons International - and more than a third of them were based in London.

2021-01-15T15:04:02Z

I want to move to the South, I want the beach — and a liberal mindset. Where should I retire?

The house budget is $400,000.

2021-01-12T17:56:42Z

FTSE 100 drops to October levels as fears rise over Covid fallout

The FTSE 100 has recorded its worst week since late October amid investor concerns over the economic fallout from tougher lockdown measures around the world. The index of leading UK company shares ended the week down by 138 points compared with the previous week, a fall of about 2%, at 6,735, after official figures showed the British economy edged closer to a double-dip recession in November. After a strong start to the year, gaining by about 6%...

2021-01-15T17:36:29Z

Euro zone trade surplus rises year-on-year in November despite slowdown

Euro zone trade surplus rises year-on-year in November despite slowdown

2021-01-15T19:02:11Z

Oil futures fall for the session; U.S. prices pare their gain for the week

Oil futures declined Friday, prompting U.S. prices to pare their gain for the week, pressured as fresh outbreaks of COVID-19 in China dulled the outlook for energy demand. "China's growing health crisis has led to a fall in oil as it is the largest importer of energy in the world," said David Madden, market analyst at CMC Markets UK. "The Beijing administration has put 22 million people on lockdown due to rising COVID-19 cases, so demand fears...

2021-01-15T19:58:50Z

Gym Group lost 216,000 members last year

Gym Group subscriptions have been frozen since a third national lockdown started on January 5, and the company had to shut all its venues.

2021-01-15T14:19:03Z

Apple plans to launch new podcast subscription service: The Information

Apple plans to launch new podcast subscription service: The Information

2021-01-15T17:52:10Z

The number of properties for sale in Australia is beginning to dry up in every capital city but one, putting upward pressure on prices

Australian property listings have fallen dramatically in the new year, down 18% on the same time last year. Melbourne has proven the lone exception, with new listings surging 55% and total listings up 13%, versus a 17% average decline.

2021-01-15T01:46:25Z

From furlough to the FTSE 250: Britain's economy in 2021 explained

The ONS this morning found the UK economy went into reverse in November, shrinking 2.6% on October as it was hit by a second national lockdown.

2021-01-15T10:03:58Z

Canada PM Trudeau tells finance minister to avoid additional permanent spending

Canada PM Trudeau tells finance minister to avoid additional permanent spending

2021-01-15T19:57:22Z

Fed's Rosengren says need to keep buying MBS, Treasuries

Fed's Rosengren says need to keep buying MBS, Treasuries

2021-01-15T18:32:04Z

Pubs, restaurants and bars have 'dreadful' Christmas

Bars and drink-led pubs were the worst affected, with sales falling by 87 per cent and 84 per cent respectively, according to the Coffer Peach business tracker.

2021-01-15T11:19:02Z

Spanish snow storm leads to UK salad shortage

January is a month when Britons turn to salads after the Christmas blowout. But now, on top of the disruption caused by Brexit and Covid, even the weather is conspiring against dieters by causing shortages in UK supermarkets. The supply of salad staples such as lettuce and tomatoes has been hit by Storm Filomena, the worst snowstorm to hit Spain in 50 years. It blanketed Madrid and the surrounding area and sent temperatures plummeting to record...

2021-01-15T16:16:15Z

No CCTV for Qld hotel cluster probe

Queensland police have found at least two quarantine hotels are lacking CCTV cameras as they investigate a coronavirus cluster centred on a Brisbane hotel.

2021-01-14T16:44:44Z

Schools demand No 10 explain unauthorised use of rapid Covid tests

School leaders have demanded urgent clarity about the government’s flagship mass-testing strategy for schools after the UK’s medicines regulator said daily coronavirus testing should not be used as an alternative to self-isolation. Headteachers said they were alarmed after the Guardian revealed that the Medicines and Healthcare products Regulatory Agency (MHRA) had not authorised the use of 30-minute lateral flow tests to allow students to...

2021-01-15T16:32:27Z

Stocks slip after big bank’s quarterly results, investors parse Biden’s aid plan

Stocks lose ground Friday after President-elect Joe Biden announced a $1.9 trillion COVID-19 relief plan and investors assess the kickoff of earnings season following results from a trio of big banks.

2021-01-15T12:28:44Z

Bitcoin fever is back. Here are the Aussie exchanges where you can trade cryptocurrencies.

As the price of Bitcoin hovers just below $50,000, Australians are looking to trade cryptocurrencies again. There are a number of Australian exchanges as well as global ones that allow users to buy, sell and hold digital assets.

2021-01-14T04:31:09Z

Global deaths from COVID-19 top 2 million as U.S. suffers most weekly fatalities since start of the pandemic

The global case tally for the coronavirus-borne illness COVID-19 climbed above 93 million on Friday and the death toll climbed above 2 million, with the U.S. leading all nations by cases and fatalities.

2021-01-15T15:58:48Z

NSW eyes lighter COVID restrictions

The state needs higher daily testing numbers before rules can be eased, premier Gladys Berejiklian warned, after the state again recorded zero new local cases.

2021-01-14T16:44:46Z

'Not that good': Montreal restaurant's brutally honest menu pulls in the customers

In the cut-throat restaurant industry, most business owners boast that their dishes are the best in town. Feigang Fei, who runs Aunt Dai Chinese restaurant in Montreal, has taken a different approach, with a menu offering bracingly honest descriptions of the dishes on offer. “Comparing to our general tao chicken, this one is not THAT good,” reads the entry for orange beef. “Anyway, I am not a big fan of North American Chinese food and it’s your...

2021-01-15T17:53:33Z

Fearful US consumers await Biden stimulus injection

President-elect Joe Biden's stimulus plan could spur hesitant US consumers to start spending again, analysts said Friday, amid reports of falling sales in December. "We expect consumers' spending to struggle until falling Covid cases allow restrictions to be eased, starting in March.

2021-01-15T16:46:59Z

'Exuberant spending' could follow pandemic, Powell says

The United States could see a boost of "exuberant spending" after the pandemic that causes price increases, but that may not lead to a spike in inflation, Federal Reserve Chair Jerome Powell said on Thursday. "As the pandemic recedes and we see potentially a strong wave of spending as people return to their normal lives and begin consuming various services, there could be quite exuberant spending and we could see some upward pressure on prices,"...

2021-01-14T19:31:24Z

President-elect Biden to announce vaccines plan

US President-elect Joe Biden was set to announce his Covid-19 vaccine rollout plan Friday as he bids to wrest the focus from the impeachment of Donald Trump to the agenda for his first days in office. Experts credit the Trump administration's Operation Warp Speed (OWS) with helping to develop Covid-19 vaccines in record-breaking time, but say there was not enough planning for the "last mile," and distribution has been off to a rocky start.

2021-01-15T16:46:58Z

Squeeze play? How the ‘most shorted’ stocks are crushing the market in the new year

Sometimes it pays to be hated. The market's most heavily shorted stocks are crushing their peers in the early days of the new year, note analysts at Bespoke Investment Group.

2021-01-15T19:29:01Z

Delta Air Lines reports huge annual loss but eyes better 2021

Delta Air Lines reported a massive loss Thursday for 2020 following the devastating impact of the coronavirus on air travel, but said it expects to return to profitability later this year. With traffic depressed in the wake of lockdowns and myriad restrictions to counter the pandemic, Delta suffered a $12.4 billion loss for all of 2020, its first year in the red since 2009 and a big come-down from record profits in 2019. Delta also reported a...

2021-01-14T19:31:22Z

Should you keep using WhatsApp? Plus five tips to start the year with your digital privacy intact

If you use the popular messaging service WhatsApp you may have noticed a pop-up message in recent days asking you to accept the service’s new terms and conditions by 8 February in order to continue using it. The update has prompted calls for users to leave the popular messaging service in favour of alternatives such as Signal and Telegram. And on Friday a legal challenge on privacy grounds was filed against WhatsApp in India, the service’s...

2021-01-15T19:08:26Z

Apple fails to overturn VirnetX patent verdict, could owe over $1.1 billion

Apple fails to overturn VirnetX patent verdict, could owe over $1.1 billion

2021-01-15T18:25:25Z

ASX higher ahead of US stimulus details

Investors had their best day of the week in ASX trading, but buying could intensifying once US President-elect Joe Biden gives details of his stimulus plan.

2021-01-14T01:44:10Z

Google Play is unsportsmanlike, U.S. states likely to argue in potential lawsuit

Google Play is unsportsmanlike, U.S. states likely to argue in potential lawsuit

2021-01-15T17:50:19Z

Economy will grow without help: Frydenberg

New figures show Australian households and businesses amassed more than $200 billion in savings during the COVID-19 pandemic.

2021-01-13T16:43:58Z

ASX ends little changed, slips for week

The ASX closed little changed despite an economic recovery plan in the US, while experts think December jobs figures will show Australia steadily recovering.

2021-01-15T01:44:45Z

Can an estate agent force me to use their firm's finance adviser?

I tried to make an offer on a home, but the agent said they would only present it to the vendor if I used their in-house finance adviser first. I refused as I have finance secured. Can they really hold back my offer?

2021-01-15T08:18:51Z

Gold prices decline to post a loss for the week as U.S. dollar firms

Gold futures slid Friday, ending lower for the week, as the U.S. dollar strengthened and investors parse President-elect Joe Biden's $1.9 trillion COVID-19 relief plan announced late Thursday.

2021-01-15T14:13:45Z

U.S. Senate panel to hold Jan. 21 hearing for transportation nominee

U.S. Senate panel to hold Jan. 21 hearing for transportation nominee

2021-01-15T18:55:48Z

14 Free and low cost educational resources for parents who need help

If you're frustrated with the lack of support you've received from your school or if you need more inspiration there are many free and low cost resources online that you can use to help your kids

2021-01-15T08:33:58Z