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Hinkley Point C costs may rise by £500m on back of Covid crisis

The Covid-19 pandemic could delay construction of the Hinkley Point C nuclear reactor by six months and raise its costs by £500m, according to its developer. The fresh delays are expected to take the cost of the UK’s first new nuclear power plant in a generation to £23bn, said EDF Energy, and delay its launch to the summer of 2026. Prior to the coronavirus outbreak, Hinkley Point was expected to start up by the end of 2025, at a cost of between...


Big tech facilitated QAnon and the Capitol attack. It’s time to hold them accountable

Donald Trump’s election lies and the 6 January attack on the US Capitol have highlighted how big tech has led our society down a path of conspiracies and radicalism by ignoring the mounting evidence that their products are dangerous. But the spread of deadly misinformation on a global scale was enabled by the absence of antitrust enforcement by the federal government to rein in out-of-control monopolies such as Facebook and Google. And there is...


GameStop mania continues into Wednesday, with stock up 116% in premarket action

GameStop shares jumped 116% in early premarket action Wednesday, with the video-game retailer among a host of heavily shorted stocks advancing. AMC Entertainment also doubled in premarket trade, with big gains for Bed Bath & Beyond , BlackBerry and GSX Techedu as well. Heavily shorted companies overseas advanced as well, with double-digit percentage gains for Pearson and Unibail-Rodamco-Westfield .


Companies are powering ahead with big battery projects, but a 'lack of certainty' by governments could deter good investment

New projects are being announced all the time in the grid-scale battery arms race but concerns are being raised over a patchwork approach which has seen some states go at it alone in their pursuit of more aggressive emissions targets.


Here are five ways the government could have avoided 100,000 Covid deaths

Yesterday Britain passed a grim milestone. A further 1,631 deaths from Covid-19 were recorded, taking the official tally above 100,000, though data from the Office for National Statistics suggests the total number will now be nearer 120,000. While the number of UK deaths has entered the hundreds of thousands, New Zealand has recorded only 25 deaths from Covid-19 so far. Taiwan has recorded seven, Australia 909, Finland 655, Norway 548 and...


Coronavirus tally: Global cases of COVID-19 climb to 100.3 million and U.S. counts another 4,000 deaths in a single day

The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 100.3 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose above 2.16 million. The U.S. has the highest case tally in the world at 25.4 million and the highest death toll at 425,227, or about a fifth of the global total. The U.S. added at least 151,616 new cases on Tuesday, according to a New York Times...


Australia's billionaires struck gold during the pandemic. Now it's time to combat rising inequality, analysts say.

Australia's 31 billionaires accumulated $85 billion more between them during the COVID-19 pandemic, according to the latest Oxfam report. The experience contrasts sharply with the those of the average Australian, who has faced rising unemployment and imminent cuts to government support.


EU's vaccine supply issues mean light at end of tunnel that much further away

In recent nights, rioters have poured on to the streets of 10 Dutch cities in what has been the closest Europe has come to open revolt against the coronavirus restrictions imposed across the continent. The violence, the worst in four decades, might be put down to the liberty-loving culture of the country or an outbreak of straightforward criminality but, perhaps not coincidentally, the Netherlands is also the very last EU member state to start...


GameStop stock doubles again with no let-up in amateur interest

GameStop stock doubles again with no let-up in amateur interest


Raging virus, few shots. How Brazil missed its chance to secure COVID-19 vaccines

Raging virus, few shots. How Brazil missed its chance to secure COVID-19 vaccines


Anthem tops profit and revenue expectations, boosts stock buyback program by $5 billion

Shares of Anthem Inc. were indicated down nearly 1% in premarket trading Wednesday, after the health benefits company reported fourth-quarter profit that just topped expectations and revenue that rose above forecasts, while the full-year outlook was less than upbeat. Net income fell to $551 million, or $2.19 a share, from $934 million, or $3.62 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to...


Elaine Stead awarded $280k for defamation by Australian Financial Review columnist Joe Aston

Journalist Joe Aston engaged in a campaign of "offensive mockery" against businesswoman Elaine Stead while writing for the Nine Entertainment Co newspaper, a judge found, leaving Ms Stead feeling "humiliated".


Aust shares close down 0.65pc, miners drop

Investors had their steepest losses on the ASX in more than a week, but inflation figures showed plenty of reasons to stay in the market.


Back-to-school confusion in South Australia over lunchbox fruit bans, coronavirus restrictions

Students across South Australia return to school amid confusion over bans on parents in classrooms and fruit in lunchboxes.


Salesforce rolls out new vaccine-management tool

Salesforce.com Inc. on Wednesday announced a new tool, Vaccine Cloud, to help government agencies, health-care organizations, businesses, nonprofits and educational institutions quickly and efficiently deploy their COVID-19 vaccine programs.


Pepsi, Beyond Meat cook up snack partnership

Food industry colossus PepsiCo and faux-burger makers Beyond Meat announced an alliance Tuesday to cook up plant-based snacks that tempt the palate while being easy on the planet. PepsiCo brings marketing and global distribution prowess to the alliance, while Beyond Meat has been creating plant-based alternatives to meat since it was founded in 2009.


Consumer prices rose in 2020, despite the recession, as childcare fees returned

Consumer prices rose in Australia last year, bouncing back from record deflation in the June quarter despite the nation's first recession in nearly three decades.


Fall by John Preston review – the truth about Robert Maxwell

Soon after he took over the New York Daily News – his last and most foolish purchase – Robert Maxwell asked the tabloid’s publisher, Jim Hoge, if he could do him a favour: “Would you mind,” Maxwell asked, “if I stood here with the door open and shouted at you for a while?” Hoge had known worse requests; the paper had recently emerged from a long and bitter struggle with the print unions, and its circulation was under the thumb of the Mafia. “I...


Andrew and Nicola Forrest flag RM Williams factory expansion, push for 100pc Australian-made products

The owners of iconic bootmaker RM Williams, Andrew and Nicola Forrest, say they are looking at expanding the company's factory in Adelaide's northern suburbs and are aiming to have all products 100 per cent made in Australia.


Inflation remains well below RBA's target

The consumer price index rose 0.9 per cent in the December quarter, with the annual rate also at 0.9 per cent and well below the Reserve Bank's target.


Courteney Cox practices self care as she visits a spa in Malibu

Courteney Cox, 56, practices some midweek self care as she hits up a luxury spa in Malibu before emerging fresh faced


Climate change is an ’emergency,’ majority says in unique gaming app survey sent to 1.2 million people in 17 languages

A solid 64% of global citizens believe that climate change is an “emergency” that must be addressed urgently, yet just 10% believe world leaders are doing enough, according to what some claim is the largest and most unique survey on the matter yet conducted.


It isn’t just GameStop: Here are some of the other heavily shorted stocks shooting higher

The dynamic that has seemingly contributed to a short squeeze in the stock of videogame retailer GameStop Corp. also appears to be affecting shares in a host of other heavily shorted companies.


Tasmania remains top economic performer

Commonwealth Securities' quarterly State of the States analysis has found Tasmania leading the pack for a fourth quarter in a row.


Coles slashes the prices of items including pasta, cheese, and snacks

Coles has slashed the prices of popular grocery items including pasta, sliced cheese and snacks in a bid to help lower the cost of living for all Australians.


ROSS CLARK: What are we to make of Brussels' hypocritical stunt?

ROSS CLARK: When Britain opted out to pursue its own vaccination course, siren voices warned. But oh how the EU has failed to live up to its lofty ideals.


Russia's Gazprom says natural gas fits in with global climate goals

Russia's Gazprom says natural gas fits in with global climate goals


Online grocery shopping took off last year but can it be profitable?

Within a matter of weeks last year, supermarkets had to ramp up their digital operations as online customer orders went from a ripple to a deluge.


Biden needs this bold strategy to reimagine the economy so it can create jobs for everyone

The stock market is hitting new highs, but the millions who have lost jobs should be the focus of Biden's bold economic agenda.


Shaquille O'Neal sells his massive Florida mansion for $16.5 million

The 48-year-old former NBA star originally put his 31,000 square foot mega-mansion on the market in 2018 for $28 million, but it finally sold after he reduced the price to $16.5 million.


IMF lifts growth forecast on vaccine hopes

The International Monetary Fund has raised its forecast for global growth, but warns there is still exceptional uncertainty in the outlook.


Sales surge for sofa firm ScS as lockdowns put focus on homes

The sofa retailer ScS experienced surging sales over the past six months as locked-down consumers opted to spend money on new furniture for their homes. Gross sales at ScS rose by 13.9% over the 26 weeks to 23 January to reach £182.3m, compared with sales of £160m a year earlier. However, the company, one of the UK’s largest retailers of upholstered furniture, and flooring, said new orders had slumped over the past month, with renewed...


AT&T quarterly postpaid phone additions jump on 5G boost

AT&T quarterly postpaid phone additions jump on 5G boost


Barbs fly over satellite projects from Musk, Bezos

A spat erupted Tuesday between Jeff Bezos and Elon Musk as the tech titans' space firms exchanged barbs over their rival satellite internet projects being evaluated by regulators. Amazon, founded and led by Bezos, put out a statement claiming Musk's rival SpaceX project Starlink was seeking design changes that could "create a more dangerous environment for collisions in space" and also increase radio interference. "Despite what SpaceX posts on...


Biden poised to halt fossil fuel leasing on federal land

US President Joe Biden was planning to announce new bans on oil and gas drilling on federal lands Wednesday as part of a raft of actions that take aim at climate change, according to reports and a White House memo.


Business jet prices seen as stabilizing in 2021 after year-end order blitz

Business jet prices seen as stabilizing in 2021 after year-end order blitz


$10 mn pay-cut for Goldman Sachs CEO over 1MDB scandal

Goldman Sachs cut its CEO David Solomon's 2020 salary by $10 million to $17.5 million because of the bank's role in the 1MDB Malaysian bribery scandal, according to documents filed Tuesday. "The amounts of remuneration reflect the decision announced by the board of directors," said a securities filing that also detailed pay-cuts for COO John Waldron and CFO Stephen Scherr. Although the three were not "aware of the firm's participation in any...


Fed on hold as officials weigh pandemic against vaccines, fiscal support

Fed on hold as officials weigh pandemic against vaccines, fiscal support


Boeing 737 MAX safe to return to service in Europe, regulator says

US-BOEING-737MAX:Boeing 737 MAX safe to return to service in Europe, regulator says


Rio Tinto and BHP battle Apache tribes to build North America's biggest copper mine at sacred Oak Flat site

Rio Tinto promised "never again" after the destruction of ancient Aboriginal rock shelters at Juukan Gorge, but now it wants to mine sacred Apache land in the US and investors are concerned little has changed within the company since it appointed an insider as its new boss.


BUSINESS LIVE: Ofgem to fine Symbio Energy

As investors wait to hear the outcome of the US Federal Reserve policy meeting that ends today, the FTSE is set to fall this morning.


Why are Indian farmers protesting?

Indian farmers have for months been camped on the outskirts of New Delhi in protest against new agricultural legislation, and on Tuesday thousands rampaged through the capital in a dramatic escalation of their standoff with the government. AFP examines the laws, why they are contentious and at Prime Minister Narendra Modi's options in his stiffest challenge since coming to power in 2014. - What is the state of Indian agriculture? - India's...


Vaccine row with AstraZeneca escalates as EU grapples with delays

Vaccine row with AstraZeneca escalates as EU grapples with delays


Costello sees danger in low interest rates

Future Fund chair Peter Costello said he was unsure whether keeping interest rates low was helping inflate stock markets to possibly unsustainable levels.


Little change expected as Fed ends first meeting of Biden era

The Federal Reserve will on Wednesday conclude its first meeting since US President Joe Biden took office, and while the central bank is certain to comment on the health of the country's economy amid the Covid-19 pandemic, analysts say it's unlikely to change its main policies. Powell has repeatedly highlighted the need for government spending to take over the role of supporting the economy from the central bank.


How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investors

The coronavirus pandemic hit GameStop hard. Like many retailers, already suffering from the shift to online sales, the video games chain is losing money and plans to close 450 stores this year. And yet, surprisingly, GameStop has become one the hottest stocks of the year. The 37-year-old chain store group is now the focus of a David-and-Goliath battle between an army of small investors and Wall Street that shows no signs of abating and has...


CPI ticks up on child care, tobacco costs

A rise in child care and tobacco costs were key drivers in a rise in inflation in the December quarter, but the annual rate was still a benign 0.9 per cent.


This swimming pool might be the coolest one in Australia

The house in Main Ridge, 93 kilometres south of Melbourne, has four bedrooms, five bathrooms and one very special swimming pool.


Asian markets swing as traders mull virus, vaccines and stimulus

Equity investors trod warily Wednesday as they weighed hopes for a long-term recovery against immediate worries over surging virus infections and mutations -- and slow vaccine rollouts. He said worries about the virus mutations "will continue to linger over markets like a dark cloud until vaccine distributions get ironed out and a definitive drop in contagion levels can thoroughly support the vaccine efficacy results".


Textile waste presents 'untapped' potential for entrepreneurs as Bathurst runs recycling trial

Participants in a NSW textile recycling trial have donated more than 1,600kg of unwanted fabrics in the space of a month and organisers say they're overwhelmed by the response.