Finance News

Retail sales down 4.2 per cent in December

Retail spending moderated in December as COVID-19 restrictions put a dampener on shopping, and after the sharp increase in November.

London stock market facing blockbuster IPO year

London will enjoy a very strong year for stock market flotations, analysts say, arguing that both Brexit and coronavirus offer firms a unique opportunity to expand. Various big-name businesses that have seen booming online demand from home-bound customers during Covid-19 lockdowns have revealed eye-catching plans for initial public offerings (IPOs) in recent weeks. Clarity over Britain's final departure from the European Union on January 1 acted...

Google says it will pull Search out of Australia if the government doesn't back down on the media bargaining code

Google Australia boss Melanie Silva has told a Senate Committee that the company could pull its search engine out of Australia. The threat comes as the tech giant demands the Australian government change proposed legislation that would compel it to pay local news companies.

Victoria's Great Ocean Road is going quiet, and it's both a blessing and a curse for locals

As Victoria's Great Ocean Road goes without busloads of predominantly Chinese tourists this summer, businesses are calling out for more help. But others say this will have a silver lining.

IRS says this tax season will be ‘one of the nation’s most important.’ Watch out for these key dates

The IRS will start accepting returns a little later than usual, on Feb. 12.

Queen bee shortage leaves beekeepers in Australia struggling to rebuild hives

The number of commercial queen bee breeders is dwindling by the day, leaving beekeepers to battle to secure the much-needed queens that are vital for each hive's honey production.

GameStop shares rocket as frustrated short seller walks away

Shares in GameStop rocketed on Friday as an activist short-seller said he was walking away from the stock in the retailer due to what he called an "angry mob" that has terrorized him and his family. Andrew Left of Citron Research put out word of the decision on Twitter a day after he posted a video at YouTube detailing reasons he was certain the retailer was overpriced in the market. GameStop shares ended the formal trading day up 51 percent,...

Asia to dominate Davos virtual forum as virus-hit West struggles

Trade Minister Dan Tehan writes to new Chinese counterpart in attempt to end trade dispute

Trade Minister Dan Tehan writes to China's new Commerce Minister to "get a dialogue in the relationship happening again" in attempts to end China's trade punishment against Australia.

Larry King, decades-long fixture of U.S. TV interviews, dead at 87

Larry King, decades-long fixture of U.S. TV interviews, dead at 87

Relocating to Queensland? Get in line, Sunshine state builders record four-fold rise in new home enquiries

A building company says the level of inquiry for new homes in south-east Queensland is "phenomenal," with a mass domestic migration to the Sunshine State apparently underway.

UK bosses set up IT systems to track Covid vaccine status of staff

Employers are creating vaccine databases of their workers to track who has been inoculated against the coronavirus. With some companies announcing they would either sack or refuse to hire people who will not take a Covid-19 vaccine, others are using IT systems to create a form of vaccine passport in the workplace to monitor the number of staff who have had the jab. Workday, which provides payroll and other human resources software to 1,300...

Taiwan says asking chip firms to help ease auto chip shortage

Taiwan says asking chip firms to help ease auto chip shortage

US existing home sales hit 14-year record despite pandemic

Record low mortgage rates amid the coronavirus pandemic fueled a US housing boom last year, pushing existing home sales to the highest since 2006, according to a survey released Friday. "Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic," NAR Chief Economist Lawrence Yun said.

Even Diageo's cocktail of brands won't guarantee heady profits in a pandemic

Looking into the bottom of the glass as another evening draws to an end in an interminable winter lockdown, it may be tempting to believe the amount we drink has gone up. What else is there to do? Yet the experience of Diageo, maker of brands from Guinness to Johnnie Walker whisky and Smirnoff vodka, suggests something quite different: even if home drinking has picked up, the industry is missing the social drinker. The closure of pubs, bars and...

Former Dragons' Den star investing in hospitality sector

She's raised the funds for her new hospitality investment firm, Nightcap Plc, which she floated on the Stock Exchange's junior AIM market to help businesses survive and expand after coronavirus.

'A Brexit nightmare': the British businesses being pushed to breaking point

Christophe Fricke lectures in German at the University of Bristol and adores living in England. He was born in Germany but his anglophilia became so strong after moving here that he wrote a book called 111 Gründe, England zu lieben (“111 Reasons to Love England”) in 2018. He selected the gardens of Cornwall, the National Portrait Gallery, the way the English use collective nouns for groups of animals (herds, packs, and so on) and their...

'Ethical' funds still hold shares in Grenfell fire firm

This is despite the highlighting of unacceptable conduct within its UK insulation business at the inquiry into the Grenfell Tower fire that killed 72 people.

US housing boomed in 2020 even as pandemic slammed economy

The US housing market boomed in 2020 even as the coronavirus pandemic caused one of the worst economic contractions of modern times, as Americans took advantage of low borrowing rates to buy homes. The surge in new and existing home sales, and home construction, underscores the unequal experience of the pandemic across the United States. Even as tens of millions of people lost their jobs due to the pandemic disruptions, others were able to...

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.

Aussies paying $140,000 to stay connected

Bills for the internet, mobile phones and streaming services quickly add up, but a changing market and 5G entering the fray means the chance for a better deal.

Why Brexit is poised to unbottle whisky profits

The US imposed a 25 per cent tax on single malt Scotch imports a couple of years ago - punishment for the EU subsidising aircraft maker Airbus. Yet prices have started to rise again.

British lawmakers seek investigation into UK-registered firm possibly linked to Beirut blast

LNG production at Shell's Prelude gas processing plant in Western Australia restarts following 11-month closure

It was supposed to be an economical and environmentally safe solution to LNG production, but with almost a third of its short life in shutdown Shell's floating colossus may prove to be a mistake.

Biden administration to unveil more climate policies, urges China to toughen emissions target

Biden administration to unveil more climate policies, urges China to toughen emissions target

HAMISH MCRAE: Growth is just round the corner

The Bank of England has the best handle on the way the economy is developing and its chief economist said that it would begin to recover 'at a rate of knots' from the second quarter as vaccines were rolled out.

Toshiba regains Tokyo exchange's top category amid calls for better governance

Toshiba regains Tokyo exchange's top category amid calls for better governance

Davos ski resort eerily quiet without economic talkfest this year

Davos ski resort eerily quiet without economic talkfest this year

Inflation likely ended 2020 still subdued

The consumer price index is expected to have risen 0.7 per cent in the December quarter, keeping the annual rate also at 0.7 per cent.

Coronavirus and lockdowns have put London's iconic black cabs under threat

As London endures its third national lockdown and the UK's economy declines due to the coronavirus pandemic, the city's iconic black cabs and their drivers face an uncertain future.

How to make sure your spouse gets your retirement savings when you die

There are differences between IRA and 401(k) beneficiaries

3 ways President Biden’s proposed stimulus checks will be different from Trump’s payments

'The $600 already appropriated is simply not enough,' President Joe Biden said.

Stocks falter as Johnson says new UK virus strain more deadly

Global stocks mostly fell Friday as investors fretted about the economic impact of fresh virus shocks amid worries that newer Covid-19 strains may be even more deadly than earlier ones. British Prime Minister Boris Johnson warned a newer Covid-19 strain may be more deadly, while US President Joe Biden said fatalities in the hard-hit country are expected to exceed 600,000.

Asos is front-runner to buy Topshop brand, Sky News says

Asos is front-runner to buy Topshop brand, Sky News says

Germany KBA watchdog also looking into Tesla touchscreen failures: paper

Germany KBA watchdog also looking into Tesla touchscreen failures: paper

'What's the point of cash if you can't go and spend it?'

They fear that unless it fulfils a promise made 317 days ago to legislate to ensure nationwide access to cash, high streets will soon become cashless zones.

5 high-growth themes and the stock-market ETFs that can deliver big gains in 2021

Cannabis, 5G, clean energy and other strategies for stock-market outperformance.

Reliance profit soars despite oil business slump

Indian conglomerate Reliance Industries on Friday said that its profit soared 12.5 percent during the last quarter of 2020 despite sharp revenue fall in its dominant oil-to-chemicals business. The 12.5 percent growth figure was in line with the market estimates after a 15 percent fall in its quarterly profits during the quarter ending September 2020.

Set up shop in Europe, government advisers tell Brexit-hit businesses

British businesses that export to the continent are being encouraged by government trade advisers to set up separate companies inside the EU.

Google threatens to block Australians over media law

Google threatened Friday to block Australians from using its search service unless the government changed landmark legislation to make the internet giant pay news outlets for their content. Under the laws, the firms would be required to compensate Australian media outlets, ranging from Rupert Murdoch's giant News Corp to public broadcasters ABC and SBS, for publishing snippets of their content in search results.

What to do when you inherit your parents’ stuff — and you don’t want it

Separating emotions from monetary value — and planning ahead

Gordon Brown: 300,000 UK jobless hidden by official figures

The full scale of Britain’s jobs crisis is being underestimated because hundreds of thousands of people are being missed by official unemployment figures, Gordon Brown has warned. At least 300,000 out-of-work people across the UK are being missed by official figures, according to a study backed by the former prime minister. He warned that it meant Rishi Sunak, the chancellor, was at risk of drawing up a financial rescue package that failed to...

MONTANARO EUROPEAN: Big returns from small firms

Its view is simple: smaller companies offer potential to deliver investors stellar returns, if they are also run with a firm eye on the environment, adopt fair work practices and do not promote boardroom greed.

Brexit has left us all at sea – even the fishing industry

Teething troubles? Bumps in the road? Pull the other one, Mr Gove. As the daily news from fishing crews, farmers, road hauliers, wine merchants, musicians and thousands of businesses up and down the land – not least in Northern Ireland – confirms, Brexit tier 3 is indeed a disaster. Far from having teething troubles that disappear, many of these businesses are having their commercial teeth extracted. It becomes increasingly manifest by the day...

Exclusive for MoS readers: See Bordeaux with TV chef James Martin

On this eight-day luxury river cruise along the Garonne, Dordogne and Gironde, you'll experience the region's full flavour - with one of the UK's most popular chefs, James Martin.

After Covid, will digital learning be the new normal?

History is likely to record that Britain’s teachers were better prepared for Covid-19 than government ministers. With cases rising in Europe, 14 schools in England had already closed their gates by the end of February 2020. When senior staff at Barham primary school began drawing up contingency plans on 26 February, they realised they needed to up their use of digital technology. They decided to upload work daily to ClassDojo, a popular app they...

Counting on a tax refund or stimulus check? 5 things to know before filing your taxes

The IRS will start accepting returns on Feb. 12. Here’s what to know to make the most out of a tax season that has a lot riding on it.

Aust shares dip but 1.27pc higher for week

ASX investors had minor losses on Friday but the market climbed for the week as first-half earnings season looms.

From Belgium to Coonalpyn, migrant couple's 'wild ride' story of success in land Down Under

When the Ait-Touatis traded the hills of Vijlen in Belgium for the dusty backdrops of Coonalpyn in South Australia, they hoped to make a success of it. But what came next was beyond their highest expectations.

Australian government's housing policy continues to ignore low income earners

Both Scott Morrison and Joe Biden use the slogan “build back better”, but what they mean by it reveals some fundamental differences over who they believe the government should care about. This week there was some focus on the homebuilder program after the latest home loan figures showed a strong surge in mortgages for building homes since July. It certainly is an example of a policy working – giving people $25,000 if they take out a loan to...