Debenhams deal and Topshop talks put more than 20,000 jobs at risk

More than 20,000 high street jobs are at risk after the online retailer Boohoo bought the Debenhams brand and its rival Asos said it was poised to buy Topshop. Debenhams, which traces its roots back to 1778, will disappear from the high street with the likely loss of up to 12,000 jobs after the £55m Boohoo deal, which does not include the department store chain’s high street operation. As part of the deal, Boohoo will buy the retailer’s Maine,...

RUTH SUNDERLAND: Grotesque greed killed the High Street giants

RUTH SUTHERLAND: Financial Darwinism in its purest form has hit the High Street. Two once-great names, Debenhams and Topshop owner Arcadia, are about to evaporate from our towns.

Australia Day is no longer an obvious and uncontroversial commercial winner for brands. Here's how the conversation has changed.

Australia Day used to be an obvious and uncontroversial occasion for brands to endear themselves to Australian consumers. No longer. There has been a decided shift over the past decade in commercial attitudes to January 26, acknowledging the problematic nature of the date’s choice as our day of national celebration to our First Nations.

Fears for shop worker jobs as Asos closes in on Topshop rescue

Rival bidders are waiting in the wings but Asos has stolen a march in the frenzied bidding war for the jewel in the crown of Sir Philip Green's collapsed Arcadia empire.

Asian markets pull back as investors seek direction

Shares fell in Asia on Tuesday after a choppy session on Wall Street yielded mixed results as the market struggled to find direction.

WA Government launches police recruitment drive as Liberals pledge millions for trade

The State Government has launched a $1.8 million advertising blitz to recruit police officers following its budget commitment to add an extra 800 police if re-elected in March.

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.

South Korea probes adequacy of Hyundai's Kona EV recall after new fire: ministry official

South Korea probes adequacy of Hyundai's Kona EV recall after new fire: ministry official

NSW to play Cupid to boost R&D funding

A matchmaking platform linking research providers to investors will be launched as part of the NSW government's new R&D action plan.

ASX closes up 0.36pc, AUD at 77.4 US cents

Investors favoured consumer and technology stocks, and the ASX closed higher, ahead of earnings season.

Southern California utility settles wildfire claims for $2.2 billion

Southern California Edison will pay $2.2 billion to settle insurance claims from a deadly, destructive wildfire sparked by its equipment in 2018, the utility announced Monday.

Tractor rally aims to overshadow India's show of military might

Thousands of farmers on tractors gathered outside New Delhi on Monday, gearing up to rival an annual parade of tanks and troops on India's Republic Day in a protest against the government's agricultural reforms. Since November, protesters have camped at the entry points to New Delhi, opposing farming laws which they say will invite conglomerates to dominate the agricultural sector. Farmers plan to stage a huge rally involving tractors on...

South Korea posts worst growth in two decades

South Korea recorded its worst growth in more than two decades in 2020, the central bank said Tuesday, but it is expected to be among the best-performing OECD economies in the wake of the coronavirus pandemic. The country's gross domestic product contracted 1.0 percent in 2020 from a year earlier, the Bank of Korea said, citing weak private spending and exports. It marks the worst annual growth since 1998, when the South Korean economy shrank...

Hyundai Motor fourth-quarter profit jumps 57% on demand for SUVs, Genesis

Hyundai Motor fourth-quarter profit jumps 57% on demand for SUVs, Genesis

Stocks slide on possible virus restrictions

European stock markets fell Monday on news that France might be headed for a fresh lockdown over the coronavirus pandemic. In New York, the Dow Jones index was also lower in midday trading, but the main Asian markets ended higher. The dollar traded mixed, while oil prices edged higher. "Renewed lockdowns and restrictive measures globally are dragging down the European bourses," commented Edward Moya, a market analyst at Oanda. "A steady stream...

Dollar firm as traders look to Fed to hold the line

Dollar firm as traders look to Fed to hold the line

Two men and a woman charged over alleged million-dollar gold theft at Coolgardie's Greenfields Mill

Three people are charged in connection with an alleged million-dollar gold theft in Western Australia's Goldfields, in which police say more than 8,000 tonnes of gold-bearing ore was stolen from a processing plant near Coolgardie.

California extends eviction moratorium to June as Covid-19 devastates state

California leaders have reached an agreement to extend the state’s eviction moratorium through the end of June in an effort to stave off an expected surge in housing displacement as Covid continues to spread. The plan, agreed on by top legislative leaders and the governor, extends until 30 June a state law scheduled to expire next Monday that prevents landlords from evicting tenants who could not pay their rent between March and August because...

U.S.-China investments dwarf official figures: study

U.S.-China investments dwarf official figures: study

Are you being served? Five-star tips for client relations in a masked era

Are you being served? Five-star tips for client relations in a masked era

Crooks stole at least $11 billion in California jobless benefits in 2020, official says

Sophisticated hackers, identity thieves and overseas criminal rings stole over $11 billion in unemployment benefits from California last year, but the extent of the fraud might grow far larger: billions more in payments are under investigation.

US Senate confirms Yellen as first female Treasury secretary

The US Senate on Monday voted by a wide margin to confirm Janet Yellen as the first woman to lead the Treasury Department. Democratic Senator Ron Wyden, chairman of the Finance Committee, called Yellen an "exceptional economist" who is "supremely qualified" to lead Treasury at a critical time.

Treasurer Josh Frydenberg has accused Facebook and Google of 'shifting the goalposts' over the media bargaining code

Treasurer Josh Frydenberg has accused Google and Facebook of “shifting the goalposts” over the proposed media code, saying the tech giants were doing a disservice to Australians by threatening to shut down their search engines.

My sister is a single mother and thinks ‘squatter’s rights’ is the way to secure housing in the pandemic. What can I do?

‘She has been better with her money the last three months, but she has been very irresponsible in her spending the last few years — paying for breast implants, for example.’

Google stops donations to U.S. Congress members who voted against election results

Google stops donations to U.S. Congress members who voted against election results

Crown Resorts could be forced to repay $175m if credit rating is cut further

James Packer’s Crown Resorts is in danger of being forced to repay more than $175m if credit ratings agencies continue to mark down the casino empire. The group is banking on selling apartments at its Barangaroo development, on Sydney’s harbour, to reduce its debt load, as it awaits a crucial final report from an inquiry into its affairs that is due to be handed to the New South Wales government by Monday. In late November, ratings agency...

Mastercard to raise fees by at least 400% for EU firms selling to UK customers

Mastercard is to increase the fees EU firms face to take payments from online shoppers from the UK by at least 400%, in a move that could mean higher prices for consumers. When a credit or debit card is used, a percentage of the purchase price is paid by the retailer to the bank that issued it as an interchange fee, which is set by a payments firm. Mastercard’s interchange fee is currently 0.3% on credit card payments and 0.2% on debit card...

Jakarta meat sellers strike, Indonesia considers importing Mexican cattle as Australian cattle prices reach record highs

The Indonesian Government is reportedly looking to Mexico as an alternate source of live cattle, after Australian cattle hit record prices and Jakarta meat sellers go on strike.

Asian markets stumble on stimulus timing and size

Asian markets sank into the red Tuesday following the previous day's healthy run-up, with sentiment jolted by the prospect that Joe Biden's huge stimulus could be watered down and not even be passed for several weeks. Investors have been on a buying spree since November, when Biden won the presidency and vaccinations began to be authorised, with the usual support also coming from central banks' loose monetary policy and government spending. But...

Rooney defers portion of his wage to help Derby through cash crisis

EXCLUSIVE: Rooney was instrumental in persuading other members of the squad to accept wage deferrals when he was a player at Pride Park last season, and has taken a similar approach as boss.

Oxfam report says rich getting richer and poor getting poorer amid coronavirus pandemic

With unprecedented support from global governments, the stock market has boomed, driving up billionaire's wealth even while the real economy has faced the deepest recession in a century and the poor have gotten poorer.

A surge in options trading is pushing around the stock market — and bringing back memories of the dot-com bubble

Individual investors are back in love with the stock market, but a newfound passion for treating call options like lottery tickets is making veteran traders nervous.

China's peak Lunar New Year air travel season fizzles as COVID cases rise

China's peak Lunar New Year air travel season fizzles as COVID cases rise

GameStop extends wild ride on Wall Street

GameStop continued its wild Wall Street ride on Monday with a dizzying climb seemingly powered by online chatter about the struggling video game retailer with a devoted fan base. A "GME to the Moon" hooded sweatshirt for sale at handmade e-commerce website Etsy was emblazoned with an image of a beloved character from video game "Fallout" riding a rocket skyward.

HENRY DEEDES watches Work and Pensions Secretary on GMB

HENRY DEEDES: Over the past few months, a climate of fear has been brewing at the heart of Government.

New president but same trade tensions between U.S., China

The U.S.-Chinese trade war isn’t going away under President Joe Biden.

China exports buoy Australia trade surplus

Australia recorded a $9 billion goods trade surplus in December, up from $7.4 billion in November, the Australian Bureau of Statistics says.

Jab approval injects business positivity

As Australia's medicines regulator gives the tick of approval for the first coronavirus vaccine, the business community is anticipating a boost in confidence.

Postgraduate enrolments soar as jobseekers wait out competitive market at university

They're qualified and keen but the work simply is not there for many Australians doing it tough. Instead they're weathering the storm at university in numbers tipped to reach record highs.

Listen-in social network Clubhouse readies for the masses

Invite-only audio social network Clubhouse is readying to let in the masses with the help of a fresh funding round reported to value it at nearly a billion dollars. The amount of cash prestigious Silicon Valley venture capital firm Andreessen Horowitz (a16z) is putting into Clubhouse was not disclosed, but the valuation was reported to be about a billion dollars.

EU threatens to block Covid vaccine exports amid AstraZeneca shortfall

The EU has threatened to block exports of coronavirus vaccines to countries outside the bloc, after AstraZeneca was accused of failing to give a satisfactory explanation for a huge shortfall of promised doses to member states. The pharmaceutical company’s new distribution plans were said to be “unacceptable” after it “surprisingly” informed the European commission on Friday that there would be significant shortfalls on the original schedule. The...

Big oil goes green: Shell buys electric car charging company

BP has dismantled its century old exploration team, cutting the division to less than 100 employees. And rival Shell bought Ubitricity, the UK's largest electric vehicle charging network.

Transforming Australia's recycling system could pump billions into the economy, the CSIRO says in a major report

Australia could boost its GDP by $1 billion per annum by boosting its recycling capacities by 5%, according to a new CSIRO report. The major paper makes the economic and environmental case for an Australian 'circular economy' based on reducing waste and repurposing materials.

Is GameStop stock being manipulated by social-media users or is it free speech? Legal experts weigh in

The stock ended Monday with a record close, despite not announcing any news.

Australian seafood is bountiful and these tasty, inexpensive types are yet to find their customer

Australians have access to thousands of locally-caught commercial fish species, but most people only eat about 20 types. Is it time to try something a little more unusual?

MARKET REPORT: Blow to airline shares as Covid curbs set to tighten

The measures being considered to prevent the spread of strains from Brazil and South Africa include requiring some or all international arrivals to quarantine in hotels for up to two weeks.

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.

'Health' tonic with your ENTIRE daily sugar limit in one dose

With wintry weather adding to lockdown malaise, a 'health tonic' might seem like just what the doctor ordered. We asked dietitianHelen Bond to assess a selection.

National Grid should lose role as electricity system operator, says Ofgem

National Grid could lose its role of keeping Britain’s lights on after the energy regulator called for a new and independent electricity system operator to help steer the UK towards its climate targets. Ofgem has called for National Grid to be stripped of its role after 30 years balancing the electricity grid because the energy company also owns energy networks. The regulator warned this could create a conflict of interest in the future as the...

The Guardian view on Covid economics: worry about jobs, not the deficit

Last November, the Office for Budget Responsibility’s worst-case scenario figured that the double whammy of a lingering pandemic and a no-deal Brexit would see 4.2 million people out of work by 2022. The good news is that Britain clinched a deal with the EU before it left its regulatory orbit. The bad news is that the OBR’s worst-case scenario almost certainly underestimates the scale of the jobs crisis. Ministers have wilfully shut their eyes...