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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.

2021-01-26T16:36:46Z

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...

2021-01-27T13:58:00Z

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.

2021-01-27T08:08:15Z

Microsoft profits surge as Xbox and Azure services soar

High demand for the firm's cloud computing services and a successful launch of two new video game consoles helped its year-on-year revenues grow 17 per cent to £31.4billion.

2021-01-27T14:27:33Z

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.

2021-01-27T05:53:01Z

AstraZeneca UK vaccine partner says suspicious package made safe, production schedule unaffected

AstraZeneca UK vaccine partner says suspicious package made safe, production schedule unaffected

2021-01-27T17:10:40Z

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 bestselling aeroplane has been given permission to fly again, although not until a package of checks and training is completed. The move does not apply...

2021-01-27T13:38:59Z

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.

2021-01-27T01:07:57Z

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.

2021-01-27T11:57:31Z

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.

2021-01-27T01:39:21Z

New mass badger culls to be banned after 2022, says minister

No new mass culls of badgers will be allowed in England after 2022, under government plans announced on Wednesday. The controversial policy has seen more than 100,000 badgers killed since 2013. The culls aim to reduce tuberculosis infections in cattle, which are a severe problem for farmers and taxpayers. About 30,000 cattle are slaughtered each year at a cost of £150m. The drive to eradicate bovine TB (bTB)will instead focus on vaccinating both...

2021-01-27T17:06:16Z

Grenfell cladding firm president agrees to give evidence at inquiry

A senior executive at the firm that made the combustible cladding used on Grenfell Tower has agreed to give evidence to the public inquiry after refusing to do so for the last seven months. Claude Schmidt, the president of Arconic Architectural Products, the French company that supplied the plastic-filled panels that were the main cause of fire spread, was one of several witnesses wanted for questioning by the inquiry into the disaster who had...

2021-01-27T17:35:13Z

Why has the EU been so slow to roll out a Covid vaccination programme?

For the European Union, the rapid rollout of Covid-19 vaccines is critical to save lives and prevent health services from being stretched beyond their limits, not to mention minimising the massive economic damage from lockdowns. Unfortunately, however, though vaccinations are under way, a rapid near-term increase in infections is likely as the British variant of the virus spreads across the continent. The problem for the EU is compounded because...

2021-01-27T15:31:36Z

Protect your finances as the UK heads for a double-dip recession

Unemployment has climbed to 5 per cent while recent GDP figures highlighted a likely double-dip recession for the UK. We outline how you can protect yourself.

2021-01-27T14:42:35Z

Oil and gas interests say drilling pause only hurts already struggling Americans

President Joe Biden as expected announced a moratorium on new oil and natural gas leasing on federal lands and waters Wednesday, raising fresh concern from fossil-fuel interests and the mostly Republican lawmakers who support the industry that household costs will rise and the U.S. will lose status in the fight to secure global resources.

2021-01-27T18:21:40Z

Benign inflation keeps rate rise at bay

Signs of a strengthening economic recovery has yet to have a meaningful impact on inflation, which will keep interest rates at record lows for some time yet.

2021-01-27T16:38:28Z

HS2 protesters hope to occupy Euston tunnel for weeks

The activists who secretly built a tunnel under a busy London square by Euston station have said they believe they can withstand eviction attempts.

2021-01-27T15:01:56Z

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...

2021-01-27T09:13:32Z

Oil prices rise as weekly U.S. supplies drop by nearly 10 million barrels

Oil futures turn higher on Wednesday after a U.S. government report revealed a weekly drop of nearly 10 million barrels in domestic crude supplies, as traders continued to track COVID-19 cases and their implications for energy demand.

2021-01-27T13:21:42Z

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.

2021-01-27T06:40:16Z

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.

2021-01-27T13:12:31Z

YouTube suspends Rudy Giuliani’s channel from making money after he repeatedly shared election misinformation

Giuliani has been falsely claiming that Donald Trump won the 2020 presidential election on his YouTube channel

2021-01-27T17:36:41Z

White House exploring tapping drugmakers to produce rivals' vaccines

White House exploring tapping drugmakers to produce rivals' vaccines

2021-01-27T18:25:39Z

'Brexit has NOT been catastrophic': City of London boss says

Despite reservations about a potential 'bonfire' of EU rules by the Government, City of London Corporation boss Catherine McGuiness thinks the capital will continue to thrive as a financial hub.

2021-01-27T14:57:40Z

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.

2021-01-27T01:53:14Z

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.

2021-01-27T00:52:25Z

GameStop, AMC trading is now being restricted at TD Ameritrade, Schwab

At least one major brokerage house is starting to respond to a frenetic surge in the price of shares of companies that has been attributed to rabid buying by individual investors on social-media platforms.

2021-01-27T17:51:43Z

Braves launch $2M Hank Aaron fund to promote diversity

Braves launch $2M Hank Aaron fund to promote diversity

2021-01-27T17:22:43Z

Chip shortage to hit production at some Volkswagen plants in February

Chip shortage to hit production at some Volkswagen plants in February

2021-01-27T17:40:51Z

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.

2021-01-26T21:37:01Z

Private sector body unveils multi-billion ambitions for carbon offsets

Private sector body unveils multi-billion ambitions for carbon offsets

2021-01-27T18:20:40Z

Yellen in call with Germany's Scholz committed to U.S. participation in OECD tax talks

Yellen in call with Germany's Scholz committed to U.S. participation in OECD tax talks

2021-01-27T17:50:39Z

Rishi Sunak's brinkmanship is no answer to the crisis Britain faces

What does it take to get Rishi Sunak to act with some urgency? The number of people who have died from Covid-19 has surpassed 100,000, joblessness is on its on its way to reaching 3 million, and thousands of people are slipping from poverty into destitution. The UK’s paltry level of sick pay has forced many to choose between self-isolating and enduring financial hardship, or putting others at risk by going back to work. But rather than take...

2021-01-27T16:31:39Z

$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...

2021-01-27T03:40:53Z

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.

2021-01-26T17:51:39Z

EU demands access to U.K.-made AstraZeneca vaccine shots as row over shortages intensifies

The EU’s health commissioner Stella Kyriakides urged AstraZeneca to supply the bloc with more doses of its vaccine from U.K. plants amid a row over shortages.

2021-01-27T18:21:45Z

It's not just the pandemic, stupid. Australia's economy has been weak for years

One of the weird consequences of Covid-19 is that it has actually hidden the weakness of the economy. When things are going to hell due a pandemic, it gets all the blame, and yet, as the latest inflation figures show, Australia’s economy has been weak for many years now. The consumer price index figures for December, released yesterday by the Australian Bureau of Statistics, show the continual impact of the pandemic. After a record fall of 1.9%...

2021-01-27T16:44:48Z

Starbucks’ COVID-related sales shift includes larger group orders

Starbucks says COVID-19 drove down U.S. same-store sales during fiscal second quarter, but drove up the size of the average order.

2021-01-27T18:06:47Z

US manufacturing recovery continues despite weak December

The ongoing struggles of the aviation sector held back US durable goods orders at the end of 2020, but the manufacturing sector continued to slowly recover from the Covid-19 downturn, government data showed on Wednesday. Orders for big-ticket manufactured items grew a measly 0.2 percent in December, well below expectations and November's upwardly revised growth, though there's evidence the sector's recovery is continuing after the coronavirus...

2021-01-27T14:55:15Z

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.

2021-01-27T03:07:32Z

Five or six doses? Controversy over Pfizer vaccine vials

The US pharmaceutical giant Pfizer, which is manufacturing the Covid-19 vaccine developed by Germany's BioNTech, now considers each vial contains six doses compared to five previously. The difficulty in obtaining that sixth dose in practice means many countries are at loggerheads with Pfizer and facing a drop in supply. - How many doses ? - Until recently, each vial of the BioNTech-Pfizer vaccine was considered to officially contain five doses....

2021-01-27T14:57:41Z

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".

2021-01-27T04:52:33Z

Fill your car up with contactless? Limit could soon be upped to £100

The proposed move would mean British families would be able to pay for their average weekly grocery bill, £56.60 in 2019, or fill up a 55-litre Ford Focus, which costs around £65, without a Pin.

2021-01-27T16:27:38Z

Analysis: A 'transitory way to govern' - Biden reverses Trump's orders with the stroke of a pen

Analysis: A 'transitory way to govern' - Biden reverses Trump's orders with the stroke of a pen

2021-01-27T18:20:46Z

Invesco small-cap ETFs clean up on Wednesday's short squeeze

A trio of small-cap exchange-traded funds from Invesco cruised higher Wednesday, boosted by frenzied buying of heavily-shorted stocks like GameStop Corp. , Bed Bath and Beyond , and Macy's . The Invesco S&P SmallCap Consumer Discretionary ETF, over 12% of its portfolio in those three holdings, gained 8%, while the Invesco S&P SmallCap 600 Revenue ETF , which has 10.5% allocated to them, was up 7%. Invesco's S&P SmallCap Value with Momentum ETF...

2021-01-27T18:06:39Z

Global stocks retreat as virus concerns mount

Global stock markets sank Wednesday as coronavirus-linked fears eclipsed stimulus hopes and investors waited for news from US Federal Reserve head Jerome Powell, dealers said. "Financial stability risks have been in check so far, but we cannot take this for granted," cautioned Tobias Adrian, head of the IMF's Monetary and Capital Markets Department.

2021-01-27T08:32:43Z

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.

2021-01-27T00:07:49Z

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.

2021-01-26T13:06:16Z

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.

2021-01-26T13:06:15Z

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.

2021-01-27T11:27:34Z

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