Money

BoE's Haldane sees rapid economic recovery from COVID hit

BoE's Haldane sees rapid economic recovery from COVID hit

2021-01-19T18:38:00Z

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.

2021-01-19T04:19:37Z

Superdry's losses mushroom as store closures hit sales

Sales sank 23.4 per cent to £282.7million in the six months to October 24 at the Cheltenham-based fashion brand despite year-on-year online trade shooting up by around half.

2021-01-19T13:40:07Z

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.

2021-01-18T16:32:58Z

How has the pandemic affected Britain's productivity?

Year-on-year output per hour increased by 4 per cent over the period, marking the biggest annual jump since the final quarter of 2005, the ONS said today.

2021-01-19T15:55:26Z

GM stock soars toward another record after Microsoft partnership on driverless cars

Shares of General Motors Corp. shot up into record territory Tuesday, after the automaker said it was partnering with Microsoft Corp. to speed up the commercialization of driverless cars.

2021-01-19T16:19:43Z

Open all hours: Round-the-clock vaccination sites to be piloted in England in COVID-19 drive

England is vaccinating around 140 people a minute.

2021-01-18T14:01:09Z

Brussels says it won't be rushed on City of London access to EU

Brussels says it won't be rushed on City of London access to EU

2021-01-19T18:13:00Z

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.

2021-01-19T05:21:06Z

GM teams up wtih Microsoft on Cruise self-driving vehicle

General Motors announced Tuesday it is joining forces with Microsoft on its Cruise autonomous driving venture, with the tech giant coming on board as an investor and technology partner as it pushes to commercialize self-driving technology. "Microsoft, as the gold standard in the trustworthy democratization of technology, will be a force multiplier for us as we commercialize our fleet of self-driving, all-electric, shared vehicles."

2021-01-19T15:22:58Z

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.

2021-01-19T00:22:44Z

Electric vehicle maker Rivian valued at $27.6 bn in funding round

Electric vehicle maker Rivian on Tuesday said it raised $2.65 billion in a new funding round valuing the Amazon-backed US company at $26.7 billion. Investors included Amazon's Climate Pledge Fund and Fidelity Management and Research, according to Rivian. "This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles," Rivian founder and chief executive RJ Scaringe said in a release. "The support...

2021-01-19T18:38:32Z

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.

2021-01-18T04:17:03Z

Analysis: Mexican president's energy reform threat faces U.S. reality check

Analysis: Mexican president's energy reform threat faces U.S. reality check

2021-01-19T18:37:55Z

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.

2021-01-17T18:46:48Z

Gold sales surge at the Royal Mint in the festive period

As overall gold sales leapt fivefold, the Royal Mint said customers flocked to invest online and physically, with 1g and 5g gold bar sales up 53% in November and December.

2021-01-19T16:25:34Z

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.

2021-01-19T02:20:52Z

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.

2021-01-17T01:46:29Z

Consumers yet to share PM's upbeat view

Consumer confidence has softened in the early stages of 2021, but Prime Minister Scott Morrison insists better times are ahead.

2021-01-19T16:36:22Z

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.

2021-01-18T17:46:30Z

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.

2021-01-19T01:49:14Z

UK government accused of discriminating against maternity leave-takers

The government could be forced to award rebates to tens of thousands of self-employed women if a case accusing it of discriminating against those who have taken maternity leave is successful. About 75,000 women who took maternity leave between 2016 and 2019 lost out on earnings because payments from the self-employed income support scheme (SEISS) – introduced alongside the furlough scheme last year – are worked out based on average profits. The...

2021-01-19T17:38:42Z

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.

2021-01-18T14:17:31Z

Is your local HSBC branch closing soon? Bank exits more locations

HSBC said the closure decisions have been made in response to 'market trends, customer behaviour and branch usage.'

2021-01-19T12:54:57Z

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.

2021-01-18T16:32:57Z

French series 'Lupin' tops 'Queen's Gambit' views on Netflix

The Netflix-produced series "Lupin", a sly modern take on France's beloved gentleman thief, is on track for 70 million views worldwide in its first month, setting a record for a French TV show, the streaming platform said Tuesday. The 1905 book on which the series is loosely based, "Arsene Lupin -- Gentleman Burglar" by French novelist Maurice Leblanc -- has shot to the top of book sales on Amazon.fr since the release of the TV show.

2021-01-19T13:37:48Z

Global sales of electric cars accelerate fast in 2020 despite pandemic

Global sales of electric cars accelerated fast in 2020, rising by 43% to more than 3m, despite overall car sales slumping by a fifth during the coronavirus pandemic. Tesla was the brand selling the most electric cars, delivering almost 500,000, followed by Volkswagen. Sales of electric cars more than doubled in Europe, pushing the region past China as the world’s biggest market for them, according to data published on Tuesday by EV-volumes.com,...

2021-01-19T17:28:29Z

California households owe $1bn in water bills as affordability crisis worsens

The magnitude of America’s water affordability crisis has been laid bare by shocking new data from California where debt owed on water bills has hit $1bn and one in every eight households is currently in arrears. A survey by the state water board found at least 1.6m households are behind on water bill payments. The average debt is $500, but 155,000 or so households are in real trouble, owing more than $1,000 each and accounting for half the...

2021-01-19T17:38:50Z

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.

2021-01-17T23:47:05Z

Malaysia files WTO complaint over EU palm oil restrictions

Malaysia has filed a complaint with the World Trade Organization over European Union rules affecting the consumption of palm oil-based biofuels, according to a document published Tuesday. Malaysia is the second country to take the EU to task over palm oil use restrictions, after the world's largest producer of the oil filed a complaint in December 2019.

2021-01-19T18:16:13Z

Brazil battles Chinese red tape to get key vaccine ingredients, sources say

Brazil battles Chinese red tape to get key vaccine ingredients, sources say

2021-01-19T17:02:35Z

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.

2021-01-19T00:50:29Z

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.

2021-01-19T04:34:37Z

Streaming designed to benefit biggest music artists, says label boss

The UK chief executive of Universal Music, the home of stars including Taylor Swift, Lady Gaga and the Beatles, has said streaming deals are designed to benefit the biggest artists – as it emerged it can take more than 1m streams to make £1,000. David Joseph also told MPs that greater effort was needed to force more royalty payments from YouTube, which is responsible for the majority of music consumption but pays relatively small fees by taking...

2021-01-19T16:58:20Z

Demand for servicing and installation of boilers is down 34%

Demand for installing, servicing and repairing energy-efficient boilers has sunk by 34 per cent, compared to the same time as last year, as households reign in spending.

2021-01-19T13:09:59Z

Shell pulls out of joint venture to build UK sustainable jet fuels plant

Shell has pulled out of a joint venture with British Airways and Velocys to build a flagship sustainable jet fuels plant in the UK – in a blow to Boris Johnson’s claims that Britain could deliver the world’s first zero-emission long-haul flight. The oil firm was named last year as one of the top companies set to “turbocharge government plans” for sustainable aviation fuels, the centrepiece of the so-called “jet zero” plan to decarbonise flights....

2021-01-19T17:59:14Z

Explainer: How Biden could use his whole government to take on climate change

Explainer: How Biden could use his whole government to take on climate change

2021-01-19T17:16:23Z

Average U.S. air fares fall to lowest price after COVID-19 pandemic

Average U.S. air fares fall to lowest price after COVID-19 pandemic

2021-01-19T17:12:28Z

Yellen champions Biden’s economic plan at confirmation hearing: live blog

Join MarketWatch for a live blog of the Senate confirmation hearing for Janet Yellen, President-elect Joe Biden’s nominee to head the Treasury Department.

2021-01-19T14:19:27Z

Harley-Davidson's stock jumps toward 2-year high after unveiling of 2021 bike lineup

Shares of Harley-Davidson Inc. ran up 2.1% toward a 2-year high in afternoon trading Tuesday, after the motorcycle maker said its 2021 lineup of bikes have arrived at its dealers. "Harley-Davidson enters 2021 focused on motorcyling as an emotional experience," said Theo Keetal, vice president of marketing. "The timeless pursuit of adventure and freedom on the open road is the foundation of our heritage and the vision of our future. As we enter...

2021-01-19T18:35:05Z

'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.

2021-01-19T01:35:42Z

Janet Yellen says US must 'act big' to revive flagging economy

Janet Yellen, the economist picked by Joe Biden to run the US Treasury, has said America needs to “act big” to revive its flagging economy and protect itself against long-term scarring with a major stimulus package. The former chairman of the US central bank, the Federal Reserve, underlined the new administration’s determination to press ahead with plans to boost government spending when she told a Senate committee that the benefits of action by...

2021-01-19T15:52:00Z

Eating more Bisto and Sharwood's gives Premier Foods a boost

The food manufacturer also said greater spending on television advertising contributed to pushing up purchases by 9 per cent in the 13 weeks to Boxing Day.

2021-01-19T17:55:48Z

Yellen to urge Congress to 'act big' to help US economy

US President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen, will urge lawmakers Tuesday to support big stimulus spending for the coronavirus-ravaged US economy, according to prepared remarks seen by AFP. Biden, who will take office on Wednesday, has proposed a $1.9 trillion rescue package to help businesses and families struggling amid the pandemic, and Yellen would be tasked with getting that massive bill through a Congress...

2021-01-19T14:52:56Z

‘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".

2021-01-19T04:35:57Z

Global equities mixed ahead of Biden's inauguration

European stock markets were softer Tuesday after a strong showing in Asia, as investors reacted to comments by US Treasury secretary nominee Janet Yellen, and Covid-19 developments. In Germany meanwhile, investor confidence jumped in December, the ZEW institute's monthly barometer showed.

2021-01-19T03:29:03Z

U.S. court deals final blow to Trump EPA's clean power rule replacement

U.S. court deals final blow to Trump EPA's clean power rule replacement

2021-01-19T18:32:42Z

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%.

2021-01-18T03:03:45Z

These copper-exposed stocks can surge in 2021 as tailwinds line up, Morgan Stanley says

Copper-exposed stocks could be set to surge in 2021 and a buying opportunity may be around the corner, Morgan Stanley analysts said on Monday.

2021-01-18T14:16:05Z

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.

2021-01-16T23:31:23Z