Money

Former M&S boss Stuart Rose named chair of EG Group

The billionaire brothers buying Asda have hired the 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 the private equity group TDR, has appointed Lord Rose as non-executive chairman with immediate effect as Zuber and Mohsin Issa prepare to expand with the Asda acquisition. The veteran retailer also chairs the online groceries firm Ocado...


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.


PayPal stock gains after BTIG upgrade

Shares of PayPal Holdings Inc. are up 1.2% in premarket trading Thursday after BTIG analyst Mark Palmer upgraded the stock to buy from neutral, citing traction for the company's cryptocurrency platform. PayPal announced in October that it would start allowing users to buy, hold, and sell cryptocurrencies like bitcoin through the PayPal platform, and Palmer said that Paxos, a private company powering PayPal's crypto efforts, "has seen its trading...


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.


Yellen sees ‘minimal’ job losses from a $15 minimum wage, but the Congressional Budget Office disagrees

Raising the minimum wage to $15 an hour would 'really help' struggling Americans make ends meet, Yellen said.


BlackRock CEO says U.S. must roll out vaccines aggressively

BlackRock CEO says U.S. must roll out vaccines aggressively


KLM to cut 1,000 more jobs, protests against mandatory COVID-19 testing

KLM to cut 1,000 more jobs, protests against mandatory COVID-19 testing


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.


New York emerges winner as Brexit pushes swaps trading from London

New York emerges winner as Brexit pushes swaps trading from London


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.


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.


Property sales in December up over 30% on 2019 levels

On a provisional seasonally adjusted basis, there were 129,400 residential sales completed in December, which is 13 per cent more than in November 2020, HMRC said today.


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.


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...


BMW targets higher margins while investing in electric cars

BMW targets higher margins while investing in electric cars


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.


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.


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.


Jobless claims drop to still-high 900,000 in last full week of Trump presidency

The number of Americans who applied for jobless benefits fell in the last full week of Donald Trump's presidency, but layoffs were still running at the highest level in months after a record coronavirus surge.


Avocado price drop drives down Mission Produce revenue

Mission Produce beat expectations in its first earnings report after going public in October.


‘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.


Coronavirus tally: Global cases of COVID-19 top 96.9 million; Biden to sign 10 executive orders to bolster pandemic management

The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 96.9 million on Thursday, according to data aggregated by Johns Hopkins University, while the death toll rose above 2.07 million. The U.S. has the highest case tally in the world at 24.4 million and the highest death toll at 406,162, or about a fifth of the global total. The U.S. added at least 184,453 new cases on Wednesday, according to a New York Times...


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...


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...


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.


'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.


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.


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...


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.


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.


So long as we blame modern slavery on criminals alone, we'll never tackle the problem

“Modern slavery” is the scourge of our times – a calling card for the prime minister, a priority for the National Crime Agency and an issue that has gained widespread attention from the media, civil society and politicians. But rather than offering a solution to the problem it seeks to name, modern slavery is a misleading way of talking about exploitation that may help create more problems than it solves. The term, which became popular in the...


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."


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.


Russia to send Sputnik V doses to Hungary, welcomes UAE approval

Russia to send Sputnik V doses to Hungary, welcomes UAE approval


Stocks rise at the open on stimulus, vaccine hopes

Stocks opened modestly higher Thursday after sweeping to a fresh set of records Wednesday. The Dow Jones Industrial Average gained 24 points, 0.1%, to open near 31,217, while the S&P 500 was up 6 points, 0.2%, at about 3,858. The Nasdaq Composite jumped 64 points, 0.5%, to trade near 13,521. Wall Street expects the new presidential administration to deliver a fresh round of fiscal stimulus and a more muscular COVID-19 response, but corporate...


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.


Jobless claim data underscores employment crisis awaiting Biden

The United States saw 900,000 new filings for unemployment benefits last week, the Labor Department said Thursday, a massive number that shows the economy remains far from healed as President Joe Biden takes office. Adding to the toll were 423,734 new filings made under a program for self-employed people not normally eligible for benefits, while as of the week of January 2, the Labor Department said nearly 16 million people were receiving some...


U.S. housing starts, building permits accelerate

U.S. housing starts, building permits accelerate


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...


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".


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.


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.


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...


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.


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.


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%.


Lufthansa has cut losses to a million euros every two hours, says CEO

Lufthansa has cut losses to a million euros every two hours, says CEO


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.


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.


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.