Finance News

Death of INXS manager Chris Murphy casts doubt on the future of Ballina museum

INXS manager Chris Murphy had plans to build an X-shaped museum in Ballina, but it's unclear what the industry giant's death will mean for the long-awaited project.

High-tech British firms eye U.S. listings in blow to post-Brexit London stock market

Two high-tech British firms are considering listings in New York, in a blow to the London Stock Exchange at a time when the city’s post-Brexit role as a financial services hub is changing.

Bank of America's stock slips after profit beat expectations but revenue falls shy

Shares of Bank of America Corp. slipped 0.2% in premarket trading Tuesday, erasing earlier gains, after the bank reported a fourth-quarter profit that beat expectations but revenue that fell short, as global markets revenue rose less than forecast. Net income fell to $5.5 billion, or 59 cents a share, from $7.0 billion, or 74 cents a share, in the year-ago period. The FactSet consensus was for earnings per share of 55 cents. Total revenue...

Aust shares more than one per cent higher

A broad-based rally on the ASX has produced investors' best day in more than a week, as US politicians lobby peers to pass economic stimulus.

A new generation of digital payday lenders are springing up in Australia as demand for short-term loans surges

A new breed of digital payday lenders are popping up in Australia, with the lending niche growing five times larger in just 12 months. Joining an array of app-based competitors, the Commonwealth Bank is offering its own pay advance feature to customers.

Advocates urge for rise to JobSeeker rate

Australia's peak welfare group is urging the government to increase the long-term rate of JobSeeker by at least $25 per day to ensure people can afford basics.

From Facebook to News Corp: here are the 5 most interesting submissions to Kevin Rudd's media diversity inquiry so far

After a public campaign led by Kevin Rudd for a royal commission into media diversity in Australia, the Senate agreed to establish an inquiry late last year.

Moonpig confirms stock market flotation for up to £1.2bn

The online greeting card and gifts retailer Moonpig has outlined plans for a £1.2bn float on the London Stock Exchange, after demand surged for its personalised products during the coronavirus pandemic. Announcing new details of the planned initial public offering, Moonpig, which has been owned by the private equity firm Exponent since 2016, said it would float at least a quarter of the company. The US firms BlackRock and Dragoneer Global Fund...

Factbox: Biden plans to reverse Trump policies during first days in office

Factbox: Biden plans to reverse Trump policies during first days in office

Branson's Virgin Orbit reaches space for first time

Richard Branson's Virgin Orbit project on Sunday successfully flew a rocket into space from the wing of a 747 plane.

US urges Australia to abandon news payment plan for tech giants

Superdry warns over future as Covid-19 hammers sales

The fashion retailer Superdry has warned over its ability to continue as a going concern as multiple coronavirus lockdowns have hammered sales and profits. Shares fell 11% on Tuesday after Superdry issued the warning and said revenues fell 52% in the 11 weeks to 9 January, due to store closures during the weeks before and after Christmas. Superdry said: “The group directors noted that the risks set out … indicate that a material uncertainty...

Australians racked up $24 billion in credit card debt for Christmas, as the country remembers how to spend again

More than $24 billions was spent on Australian credit cards over the Christmas period, according to RBA forecasts. Although lower than last year, the figure remains substantial, amounting to $1,748 per card, Finder analysis found.

Most Asia stocks down after gains, China growth beats forecasts

Most markets fell Monday as investors took a breather following a recent rally, though Hong Kong and Shanghai enjoyed gains after data showed China's economy grew more than expected last year. However, stocks in Hong Kong and Shanghai rose after official figures showed China's economy expanded a forecast-beating 2.3 percent last year.

NRL players accept 2021 cut to salary cap

NRL players have agreed to take a pay cut with the salary cap reduced by 6 per cent as the game deals with the financial implications of the COVID-19 pandemic.

Tyro close to restoring EFTPOS connections

A problem with Tyro EFTPOS terminals, which has left many businesses unable to collect payments, could be resolved by the end of the week.

ASX drops 0.78pc as US stimulus vote looms

Shares have closed lower by 0.78 per cent to start the week on the ASX and investors will be hoping Joe Biden's US stimulus plan is approved soon.

Calls for more help as international border stays closed due to COVID threat

With international borders likely to remain closed for much of 2021 Australia's tourism industry has demanded more financial support from the Government.

UPDATE: Coronavirus tally: Global cases of COVID-19 top 95.6 million and U.S. approaches 400,000 fatalities

The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 95.6 million on Tuesday, according to data aggregated by Johns Hopkins University, while the death toll rose above 2 million. The U.S. has the highest case tally in the world at 24 million and the highest death toll at 399,003, or more than a quarter of the global total. The U.S. added at least 142,588 new cases on Mondayaccording to a New York Times...

Sustainable tourism key to Cumbria’s new carbon neutral plan

Across Cumbria local communities, businesses and grassroots organisations are being mobilised to map out ways that they hope will help it become the UK’s first carbon-neutral county. The county has targeted 2037 to decarbonise, an ambition initially supported by £2.5m of national lottery funding, which was awarded last August and will be drip-fed over the next five years from this month.. Tourism will be an area of focus, alongside housing,...

Halliburton narrows loss as revenue tops estimates

Oil services company Halliburton Inc. said Monday it had a net loss of $235 million, or 27 cents a share, in the fourth quarter, narrower than the loss of $1.654 billion, or $1.88 a share, posted in the year-earlier period. Adjusted to exclude severance and other charges, the company had per-share earnings of 18 cents, ahead of the 15 cents FactSet consensus. Revenue fell to $3.237 billion from $5.191 billion, but also beat the $3.213 billion...

Italian PM faces senate test as pandemic rages

New home sales surge as economy recovers

New home sales rocketed in December as people rushed to get the federal government's $25,000 HomeBuilder grant before it was reduced at the turn of the year.

Gannett provides upbeat revenue outlook on advertising rebound

USA Today parent Gannett Co. Inc. provided a fourth-quarter revenue outlook that was above expectations, amid strength in advertising. The media company expects revenue of $865 million to $875 million, up from $699.3 million a year ago. The one analyst that provided an estimate with FactSet was expecting $857 million. Gannett also expects a net loss of $135 million to $130 million. "Revenue improvement was primarily driven by a continued rebound...

Equities edge higher before Yellen, on eve of Biden inauguration

European stock markets edged up Tuesday following a strong showing in Asia ahead of a key speech from US Treasury secretary nominee Janet Yellen. The dollar was mixed on the eve of Joe Biden's inauguration as US president, with all eyes on his vast $1.9-trillion stimulus plan. Oil prices jumped, helped by investor optimism over the global economic recovery and vaccine rollouts that are offsetting concerns about soaring virus infections. - 'A...

'We won't have much of a tourism industry left': Tourism boss calls for JobKeeper extension as borders stay shut

The head of Australia's peak tourism industry body has called for an extension to the JobKeeper subsidy to counteract the continuing financial strain caused by international and domestic border closures.

Homelessness crisis looms as Western Australia's coronavirus rental moratorium due to expire

Western Australia is set to see increased levels of insecure housing and homelessness due to rental hikes of up to 20 per cent after the state's moratorium ends, Anglicare warns.

Is crypto the new 'millennial gold'?

Blockchain mining company Argo Blockchain is the most bought stock on DIY investing platform Interactive Investor so far this year. What is it, who is buying it and why is it so popular?

The Trump years: Tax cuts and trade wars overshadowed in the end by a virus

The Trump years: Tax cuts and trade wars overshadowed in the end by a virus

Explainer: Trump's legacy - Big policy changes that often got lost amid the din and scandal

Explainer: Trump's legacy - Big policy changes that often got lost amid the din and scandal

Tuesday briefing: 'Missing out on being young'

Top story: Call to promote BAME vaccinations Hello, Warren Murray marking out the trail to Tuesday’s must-read news. Young people are in danger of giving up on their futures and on themselves amid the coronavirus pandemic, a Prince’s Trust survey has found. More than one in four said they had felt unable to cope with life since the start of the pandemic, increasing to 40% of those not in work, education or training. Half of 16- to 25-year-olds...

Electric car batteries race ahead with five-minute charging times

Batteries capable of fully charging in five minutes have been produced in a factory for the first time, marking a significant step towards electric cars becoming as fast to charge as filling up petrol or diesel vehicles. Electric vehicles are a vital part of action to tackle the climate crisis but running out of charge during a journey is a worry for drivers. The new lithium-ion batteries were developed by the Israeli company StoreDot and...

MG5 EV's roof rails are for decoration and not safe to carry weight

Despite MG Motors' website and brochures previously showing the estate car carrying a bicycle, the brand has since told customers it is not safe to load anything onto the roof rails.

The top five things this leading economist thinks will happen in Australia 2021

Last year was a hell of a ride for, well, almost every industry. So what will 2021 bring? Here's how Australia's economy will play in 2021 according to one of our top economists.

‘Harmful outcomes’: The US has urged Australia to ditch its plan to force Facebook and Google to pay for news

US trade representatives say Australia's draft media bargaining code is "fundamentally unbalanced", with consequences that could "significantly harm Australian consumers".

Sputnik-AstraZeneca vaccine trials to start in February, says R-Pharm

Sputnik-AstraZeneca vaccine trials to start in February, says R-Pharm

Fighting climate crisis made harder by Covid-19 inequality, says WEF

Tackling the existential risk posed by the climate crisis will be made harder by the growing gap between rich and poor triggered by the Covid-19 pandemic, the World Economic Forum has said. The body that organises the annual gathering of the global elite in the Swiss town of Davos said warning signs of the threat posed by infectious disease had been ignored for the past 15 years, with disastrous results. Despite the loss of almost 2 million...

Elizabeth Banks sends thank you notes to frontline workers

Elizabeth Banks is sending thank you notes to frontline workers in honor of National Day Of Service, which is recognized on MLK Day on January 18.

Major firms urge Japan to bolster 2030 renewables goal

Major firms including Sony, Panasonic and Nissan on Monday urged the Japanese government to make its 2030 renewable energy target twice as ambitious. Prime Minister Yoshihide Suga last year set a 2050 deadline for Japan to become carbon-neutral, but the country's shorter term renewables goal has long been criticised as lagging. Japan currently aims to source between 22 and 24 percent of its power from solar, wind and other renewables by 2030, a...

Halliburton profit up 60% on cost cuts, demand recovery

Halliburton profit up 60% on cost cuts, demand recovery

Northern Territory national parks Litchfield and Nitmiluk to charge fees for tourists

The cash-strapped NT Government has confirmed park fees will be on the cards for interstate and international tourists, as one of its budget repair measures.

Dow set to rise over 200 points rise as markets ready for transition to Biden from Trump

Stock-market index futures on Tuesday are set to rally, with investors looking ahead to the inauguration of President-elect Joe Biden and fourth-quarter quarterly results set to kick into higher gear, featuring the likes of Bank of America, Goldman Sachs Group and Netflix. Markets were closed on Monday in observance of the Martin Luther King Jr. holiday.

Lumentum to acquire Coherent in cash and stock deal valued at $5.7 billion

Lumentum Holdings Inc. said Monday it has agreed to acquire Coherent Inc. in a cash-and-stock deal valued at $5.7 billion. Under the terms of the deal, Lumentum will pay $100 in cash at 1.1851 shares of comment stock for each Coherent share. At closing. Coherent shares will own about 27% of the combined company. The deal "unites Coherent's leading photonics and lasers businesses, including in the Microelectronics, Precision Manufacturing,...

Coinbase apologises for letting down users over frozen funds

In a blog post published on Friday Casper Sorensen, the vice president for customer experience at the cryptocurrency exchange, said the company was 'doing everything in our power to turn the page.'

How offshoring rolled along under Trump, who vowed to stop it

How offshoring rolled along under Trump, who vowed to stop it

Councils plan to fit just 9,300 on-street electric EV chargers by 2025

An average of 35 chargers per local authority are due to be provided in the next four years. That's despite the Government making available funds to cover the cost of 3,600 installations in 2021.

JB Hi-Fi’s online sales soared 161% which, together with Black Friday deals, more than made up for lockdown store closures

JB Hi-Fi Group reported stellar sales results for the first half of the 2021 financial year. In the company's preliminary, unaudited financial results, it reported $4.9 billion in sales, an increase of 23.7%.

Spanish side become first team ever to buy a player with BITCOIN

The striker was unveiled by Spanish third division side DUX Internacional de Madrid, also known as Inter Madrid, after they teamed up with their new cryptocurrency sponsors to make a unique move.

Sober lifestyle grows in popularity, with more Australians giving up alcohol

More Australians are turning away from alcohol, and some who have ditched the drink say non-alcoholic beverages make it more socially acceptable to be sober.

Indigenous man Noel Walker explains why Coon Cheese name change is so important

Saddened by the openly racist tone of the social media debate over the Coon Cheese name change, Indigenous man Noel Walker joins the discussion to explain his perspective and share his insight into the pain the brand has caused.