Finance News

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.

2021-01-21T04:38:27Z

Union stopped firefighters helping with Covid effort, say inspectors

The union representing firefighters hampered efforts to deploy the emergency service into potentially life-saving scenarios during the coronavirus pandemic with outdated and unnecessary practices, independent inspectors have said in a damning report. The Fire Brigades Union (FBU) asked firefighters not to volunteer to support the NHS test-and-trace system and the Covid-19 vaccination programme, Her Majesty’s Inspectorate of Constabulary and Fire...

2021-01-22T00:06:33Z

Nissan forced to shut UK production line owing to supply delays

Nissan has been forced to shut one of the two production lines at its Sunderland factory as the Japanese carmaker faced delays in supplies caused by the coronavirus pandemic. The UK’s biggest car factory has paused production of its Qashqai crossover SUV and its electric Leaf car, with the aim of restarting on Monday. The factory also produces the Juke model. A Nissan spokesman said: “Production on line one at the plant has been paused due to...

2021-01-21T20:01:54Z

Jordana Brewster is low-key chic getting coffee

Jordana Brewster, 40, was spotted stepping out in the posh Brentwood neighborhood of Los Angeles to grab a coffee with beau Mason Morfit on Thursday.

2021-01-21T22:45:45Z

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.

2021-01-20T16:38:46Z

Next drops bid to buy Topshop after Arcadia's breakup

Next has pulled out of the race to acquire Topshop, the jewel in the crown of Sir Philip Green’s collapsed fashion empire Arcadia, after rival bidders trumped its offer. Arcadia, which employed 13,000 people across 500 outlets when it fell into administration last year, is being broken up. Interested parties had been asked to submit bids for the whole company or individual brands at the start of this week. Next, which was working with the US...

2021-01-21T21:30:35Z

Retail sales likely moderated in December

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

2021-01-21T16:39:16Z

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.

2021-01-21T00:55:12Z

Asian markets set for messy open after U.S. stocks peak following Biden inauguration

Asian markets set for messy open after U.S. stocks peak following Biden inauguration

2021-01-22T00:08:22Z

TOWIE star Mick Norcross found dead aged 57

Former TOWIE star Mick Norcross has died aged 57.

2021-01-21T20:30:26Z

Under President Biden, expect more aggressive oversight of the student-loan industry

The Biden administration will enlist the Consumer Financial Protection Bureau to tackle student-debt problems.

2020-11-24T09:50:43Z

Brexit has given competitive edge on car battery tariffs, says Nissan chief

Nissan has said Brexit has given the company an edge, as the Japanese carmaker said it will buy more batteries from within the UK to avoid tariffs. The owner of the UK’s largest car factory, in Sunderland, also said it would push ahead with the production of a new version of its Qashqai SUV this year, after it delayed the new model as the coronavirus pandemic wrought havoc on car sales and production. Ashwani Gupta, Nissan’s chief operating...

2021-01-22T00:02:24Z

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.

2021-01-21T01:53:51Z

West Virginia touts COVID-19 vaccination success story as national rollout sputters

West Virginia touts COVID-19 vaccination success story as national rollout sputters

2021-01-21T22:48:05Z

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.

2021-01-20T20:08:10Z

MARKET REPORT: Pandemic 'puppy boom' leads Pets at Home to £80m profit

In a third quarter trading update, the UK's biggest pet care business said revenues increased to £302m during the 12 weeks to December 31. That was 18 per cent higher than a year earlier.

2021-01-21T22:43:50Z

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.

2021-01-21T02:23:54Z

Cineworld faces revolt by shareholders over £208m share scheme

Britain’s largest cinema chain is facing a shareholder backlash over a scheme that could result in top bosses being allocated up to £208m in share awards while thousands of staff remaining furlough as all its 127 UK sites remain closed. Cineworld’s shareholders are due to vote on a new pay policy and long-term incentive plan (LTIP) at a special meeting next week. However, the shareholder advisory groups Glass Lewis and ISS have recommended that...

2021-01-21T19:24:57Z

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".

2021-01-21T05:03:35Z

Americans are more likely to go on shopping sprees when the stock market is rising — why that’s a bad thing

'A 10% rise in stock prices is associated with a rise in average spending of just under 1%,”'according to a report published by the JPMorgan Chase Institute.

2021-01-21T18:52:38Z

Clive Palmer coal mine poses 'significant risks' to Great Barrier Reef, scientists say

A committee of Commonwealth-appointed scientific experts has expressed "extreme concern" about businessman Clive Palmer's proposed central Queensland coal mine, saying the Great Barrier Reef World Heritage Area just 10 kilometres away could not be safeguarded.

2021-01-21T19:53:54Z

JPMorgan board holds CEO Dimon's annual pay at $31.5 million

JPMorgan board holds CEO Dimon's annual pay at $31.5 million

2021-01-21T22:43:20Z

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.

2021-01-21T00:53:18Z

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.

2021-01-21T03:23:25Z

Jobless claim data underscores employment crisis awaiting Biden

Government data released the day after Joe Biden entered the White House made clear the scale of the employment crisis facing the new US president as the country struggles to make it through the Covid-19 pandemic. The government also reported 423,734 new filings made under the Pandemic Unemployment Assistance program for self-employed people not normally eligible for benefits.

2021-01-21T15:10:51Z

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.

2021-01-21T05:23:55Z

EU website purchases: the import charges UK customers have to pay

Before Brexit, UK consumers were free to buy items from anywhere in the EU without incurring import duties and other charges. That all changed on 1 January 2021. Online orders up to £135 are now supposed to have the UK’s prevailing VAT rate added at the point of sale by the EU retailer - which has to have registered with HM Revenue & Customs. Lots of smaller EU-based retailers have decided that the paperwork of collecting UK VAT is not worth the...

2021-01-21T17:26:26Z

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.

2021-01-21T06:33:29Z

Intel stock gains falter after hours as future plans addressed

Intel Corp.'s stock rallied to close higher in the last minutes of trading Thursday after the chip maker unexpectedly released quarterly results before the end of the trading session, but the stock retreated in extended trading as the company addressed long-range plans.

2021-01-21T21:07:39Z

NZ's stronger-than-expected inflation signals interest rates to be left steady

NZ's stronger-than-expected inflation signals interest rates to be left steady

2021-01-21T22:39:41Z

Issa brothers name former M&S chief Lord Rose as chairman of EG

Zuber and Mohsin Issa hired the former M&S boss amidst concerns over governance at EG Group, fuelling speculation the pair are preparing the ground for a multibillion-pound stock market listing.

2021-01-21T22:43:48Z

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."

2021-01-21T02:03:25Z

I’m a single mom. I take my kids on trips. My mother says that’s crazy and I should be saving for a house. What do you think?

‘Sometimes, I rent a hotel room by the beach, Las Vegas or other places that I think would be nice for us to see.'

2021-01-19T08:18:30Z

Nissan to source more UK batteries as part of Brexit deal 'opportunity'

Nissan to source more UK batteries as part of Brexit deal 'opportunity'

2021-01-22T00:23:26Z

Music rights fund Hipgnosis hits right note with investors

Hipgnosis has had a barnstorming pandemic, spending nearly £1bn to acquire some of the world's best-known artists, including the pint sized pop princess Shakira (pictured).

2021-01-21T22:43:49Z

Biden to push U.S. Congress for money to fight pandemic globally

Biden to push U.S. Congress for money to fight pandemic globally

2021-01-21T22:51:46Z

My 70-year-old partner of 16 years refuses to put his bank accounts into both our names. What should I do?

‘In 2008, we lost virtually everything in the Great Recession, and have rebuilt our assets into a reasonable position.'

2021-01-19T05:18:04Z

New Zealand central bank says significant progress made in data breach probe

New Zealand central bank says significant progress made in data breach probe

2021-01-22T00:29:57Z

Yellen says raising minimum wage to $15 would have ‘minimal’ impact on jobs, but nonpartisan Congressional Budget Office disagrees

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

2021-01-21T14:37:29Z

IBM earnings and revenue continue to shrink, stock falls 6%

While 2020 was an odd year, one thing remained the same: IBM earnings and sales continued to shrink.

2021-01-21T21:52:54Z

Man who strained his back picking up company car keys will receive workers compensation

A man who accidentally dropped the keys to a company car, and strained his back picking them up, will receive workers compensation.

2021-01-21T21:08:54Z

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.

2021-01-21T02:10:15Z

Global stocks mixed as Lagarde warns of continued Covid-19 drag

Global stocks were mixed Thursday, with the Nasdaq pushing to a fresh record on lingering optimism over the US presidential transition while European Central Bank Chief Christine Lagarde warned of continued challenges from Covid-19. Thursday's Wall Street session was choppy after all three major indices surged to records on Wednesday in anticipation of an improving economic picture thanks to newly-installed US President Joe Biden's stimulus plan...

2021-01-21T03:03:29Z

California has environmental allies once again with Biden in the White House

California has led the resistance to Donald Trump’s efforts to roll back environmental regulations in the past four years, with the state’s attorney general, Xavier Becerra, filing a whopping 122 lawsuits challenging Trump administration rules, most of them focused on climate and public health. Now, following Joe Biden and Kamala Harris’ swearing in on Wednesday, the Golden State once again has allies in the White House when it comes to...

2021-01-21T20:56:25Z

Embattled Intel says earnings better than expected

Intel said Thursday that earnings topped prior expectations, as the computer chip giant faces pressure to come up with bold ways to fend off fierce competition and an activist shareholder. Intel said it took in $20 billion in revenue during the final quarter of last year, little changed from a year earlier, amid robust sales of personal computers. The Silicon Valley company reported net income of $5.9 billion in the quarter, down a billion...

2021-01-22T00:26:37Z

ALEX BRUMMER: Centrica is held hostage by the GMB union

Should your gas boiler break down or there be an interruption to energy supplies in the midst of the bleak winter pandemic, don't expect an immediate response from your British Gas engineer.

2021-01-21T22:28:44Z

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.

2021-01-20T16:38:44Z

‘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.

2021-01-21T06:10:30Z

Australian tennis ace Ash Barty is slammed for a Covid rule breach

Tennis world number one Ash Barty has vowed to 'be better' after she breached a basic Covid rule in place for all shoppers in a Melbourne supermarket on Thursday.

2021-01-21T22:28:39Z

BlackRock opens door to bitcoin in boost for cryptocurrency

BlackRock, Wall Street's biggest money manager, is opening the door to investing in bitcoin futures in a potential boost for the controversial cryptocurrency. Securities filings from the investment giant show at least two BlackRock funds may buy bitcoin, a digital currency which has seen wild swings since being introduced over a decade ago. BlackRock said it may buy bitcoin contracts which have been approved by regulators while acknowledging the...

2021-01-21T15:55:50Z