Business

Global markets gain ground as Biden is inaugurated

World stock markets rose Wednesday as Joe Biden took the oath of office, in part owing to the new US president's coronavirus stimulus proposal. - 'Trump, Brexit in rear view mirror' - "European markets... (are) looking forward with optimism, with Joe Biden's inauguration marking the end of a four-year period that married up both Brexit and global trade uncertainty," commented IG analyst Joshua Mahony.

2021-01-20T03:17:31Z

Netflix keeps growing in pandemic, tops 200 mn subscribers

Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic. The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed. "Covid-19 has accelerated that big shift from linear to...

2021-01-19T22:23:54Z

Economists predict further jobless drop

Economists expect 50,000 people gained employment in December, pushing the jobless rate down further to 6.7 per cent from 6.8 per cent.

2021-01-20T16:38:44Z

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

Strong U.S. economic rebound will surprise markets and the Federal Reserve, says the best forecaster of 2020

In a competitive contest, Christophe Barraud of Market Securities won the Forecaster of the Year award, ousting nine-in-a-row champ Jim O'Sullivan of TD Securities.

2021-01-19T18:50:04Z

Avocado price drop drives down Mission Produce revenue

Mission Produce beat expectations in its first earnings report after going public in October.

2021-01-20T18:37:04Z

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

‘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

Burberry's sales in China surge as lockdown restrictions are eased

The luxury chain fared well in China and Korea, and the Asia Pacific region saw sales climb 11 per cent as lockdown restrictions in these areas were eased.

2021-01-20T14:12:47Z

Shoppers rave about this £7 posture corrector for back pain

While there are many products on the market claiming to help improve posture and relieve back pain, shoppers have crowned the Gearari Posture Corrector the best at preventing poor sitting...

2021-01-20T16:00:31Z

Aust shares higher before Biden era begins

Australia's share market has closed higher, as attention turns to the swearing in of US president-elect Joe Biden and his economic stimulus plan.

2021-01-20T01:52:46Z

Black Americans are dying from COVID-19 at higher rates than others — but they are also getting vaccinated at lower rates

A new analysis reveals the racial disparity in health-care worker vaccinations.

2021-01-20T05:36:34Z

Dixons Carphone boss says company is 'winning online'

The retail giant said the share of digital purchases doubled year-on-year in the ten weeks to January 9 to constitute more than half (53 per cent) of its overall electricals sales.

2021-01-20T14:12:46Z

U.S. consumer watchdog director resigns at request of Biden administration

U.S. consumer watchdog director resigns at request of Biden administration

2021-01-20T18:15:20Z

Loeffler's WNBA stint nears end as Dream close to being sold

Loeffler's WNBA stint nears end as Dream close to being sold

2021-01-20T18:32:36Z

'Australia's largest energy class action' filed against Queensland power companies accused of driving up prices illegally

The law firm leading a major class action involving more than 47,000 people is looking for more people to register for reimbursement as it alleges two of the state's biggest power players artificially created a lack of supply to drive up prices.

2021-01-20T05:52:47Z

Banks pressuring customers to make unrealistic loan repayments as deferrals end

As a pause on home loan repayments begins to lift, banks are asking customers to make large lump sums or add $1,000 a month to their repayments to clear up what they owe in arrears.

2021-01-20T05:52:47Z

Don't read too much into the fall in Australia's payroll jobs, at least not yet

The latest release of the payroll jobs index showing a 6% fall in jobs in the past month might suggest that unemployment is about to rise. But closer inspection reveals that despite the usual drop in work in January, employment overall is holding up well. However, full-time work still has a way to go. Since the pandemic, the Australian Bureau of Statistics has, in association with the ATO, begun releasing a weekly payroll job index that has...

2021-01-20T16:44:43Z

v2food has launched the next iteration of its plant-based meat product: sausages

v2food has released the next iteration of plant-based meat products. The company is rolling out v2sausages in Coles supermarkets this week for a limited time.

2021-01-20T04:24:21Z

Bank of England's Bailey expects 'pronounced recovery' for economy

Bank of England's Bailey expects 'pronounced recovery' for economy

2021-01-20T18:00:33Z

Biden's cabinet picks say US to stand against China trade abuses

President-elect Joe Biden's picks to lead economic and foreign policy signaled on Tuesday that there would be no letup in Washington's efforts to combat China's trade abuses. The comments from the incoming administration reflect an unusual area of common ground with outgoing President Donald Trump, who over the past four years unleashed an aggressive and costly trade war that imposed billions of dollars in punitive tariffs on Chinese goods....

2021-01-19T19:16:44Z

UK government rejects 'musician passports' as stars attack 'shameful' touring deal

The UK government will not pursue a waiver scheme that would allow British musicians to tour the EU without the need for visas, customs waivers and work permits for each individual member state. The announcement comes as more than 100 artists including Sting, Bob Geldof and Elton John have signed an open letter published in the Times on Wednesday, calling on the government to negotiate paperwork-free travel for British musicians touring in...

2021-01-20T09:00:22Z

Tug-of-war between debt and stimulus awaits Yellen at Treasury

Spend big to help the economy while dealing with a massive national debt: as US Treasury secretary, Janet Yellen will face a delicate dance between undoing the damage done by the coronavirus while figuring out ways to pay the bill. With employment faltering and virus infections soaring, President-elect Joe Biden, who takes office on Wednesday, has proposed a $1.9 trillion rescue package to revitalize the economy and kickstart the underperforming...

2021-01-19T19:23:50Z

South Australia's recycling industry to be bolstered by up to $45 million

South Australia's "circular economy" of recycled waste is set to receive a $45 million infrastructure injection following a joint announcement by the Federal and State governments today.

2021-01-20T03:07:26Z

GM teams up with Microsoft as electric car market revs

General Motors announced an alliance Tuesday with Microsoft on its Cruise autonomous driving venture, combining forces to challenge Tesla and others in an electric car market expected to rev with Joe Biden's environment-friendly administration in the White House. The companies have established "a long-term strategic relationship," and Microsoft will join GM, Honda and institutional investors in a new $2 billion equity investment round, GM and...

2021-01-19T20:23:40Z

BHP raises iron ore production estimate

BHP has increased the quantity of iron ore it expects to produce this fiscal year, following the restart of an operation in Brazil.

2021-01-20T00:52:33Z

SA to launch its own satellite in 2022

South Australian Premier Steven Marshall has announced plans for the state to launch its own satellite into a low-earth orbit next year.

2021-01-20T02:07:52Z

No discussion at BoE about cutting rates below zero - Bailey

No discussion at BoE about cutting rates below zero - Bailey

2021-01-20T18:10:39Z

Criminal charges laid over Japanese exchange student drownings at Fraser Island's Lake McKenzie

A school teacher and tour company are charged with workplace health and safety offences almost two years after two Japanese teenagers drowned at a lake on Fraser Island (K'gari).

2021-01-20T00:52:05Z

I’m predisposed to early-onset Alzheimer’s. I want to propose to my girlfriend — but unsure how to divide my estate between her and my daughter

This letter writer asks: ‘Is it wrong to leave funds passed down from generation to generation solely for my daughter, and leave other funds to my new wife?’

2021-01-14T05:12:47Z

Wild lynx could be reintroduced into Scottish Highlands

A consortium of conservationists that hopes to release wild lynx into the Scottish Highlands has launched a year-long study to see whether the public supports their reintroduction. The study, part-funded by two billionaire Danish estate owners in the Highlands, Anders Povlsen and Lisbet Rausing, will test whether farmers, landowners and rural communities will agree to a pilot project in a remote area of Scotland. The lynx, Europe’s largest...

2021-01-20T17:06:31Z

Amazon sues EU antitrust regulators for letting Italian case go ahead

Amazon sues EU antitrust regulators for letting Italian case go ahead

2021-01-20T17:05:25Z

Universal Credit: What you need to know about the monthly boost debate

Earlier in the week, the Government lost a 'vote' 278 to 0 on the issue of extending a £20 a week uplift in Universal Credit, which is currently due to expire at the end of the current tax year in April.

2021-01-20T12:42:42Z

People's Choice Credit Union customers angered by outages and slow online banking

A system upgrade is being blamed for leaving tens of thousands of Australians without access to their online bank accounts.

2021-01-20T05:22:43Z

Saga requires all cruise passengers to have coronavirus vaccine

Saga has become the first UK tour operator to tell cruise and holiday customers that they must be vaccinated to travel with them this summer. The over-50s travel firm, which has reported a surge in bookings since the vaccination programme was announced, is taking reservations on condition that customers are fully inoculated, with two shots where necessary, at least 14 days before departure. Passengers will also need to take a Covid test at the...

2021-01-20T18:29:50Z

P&G sees strong sales trends extending beyond pandemic

Procter & Gamble reported another quarter of strong sales growth Wednesday and expressed confidence it would keep up the good run after the coronavirus pandemic has waned. P&G, which makes Mr. Clean, Tide, Pampers and other household goods, lifted its full-year profit and sales targets after scoring an eight percent sales jump in the second quarter.

2021-01-20T14:10:21Z

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

Argentina approves Russia's Sputnik V vaccine for over-60s

Argentina approves Russia's Sputnik V vaccine for over-60s

2021-01-20T17:25:28Z

Gold futures settle at a nearly 2-week high

Gold futures ended Wednesday at their highest in nearly two weeks. "Precious metals were supported above all by a weaker U.S. dollar, which fell further on the back of renewed strength for stock markets," with U.S. benchmark stock indexes climbing to new records amid "ongoing reflation trade," said Fawad Razaqzada, market analyst at ThinkMarkets. This pushed foreign exchange investors into foreign currencies, as well as gold and silver, he said....

2021-01-20T18:51:59Z

Barley finds a home in Mexico as CBH sends first shipment from WA

Despite the trade tensions with China and the massive tariff imposed on barley exports there, there are some good signs for grain growers on international markets.

2021-01-20T02:07:21Z

Fearne Cotton struggling to recover from 'four seconds of sleep'

The broadcaster, 39, took to Instagram on Wednesday morning to detail her challenges with maintaining a healthy work-life balance.

2021-01-20T12:16:50Z

Robinhood day traders are squeezing the hedge funds — here’s why it may continue

The networking effect may be one reason why retail trading momentum will continue.

2021-01-20T11:37:01Z

Workers in demand as home building blooms

Skilled vacancies advertised on the internet have grown for eight consecutive months after hitting a record low last April.

2021-01-19T16:36:22Z

Chinese billionaire Jack Ma makes first public appearance in months

Chinese billionaire Jack Ma has made his first public appearance since Beijing began a crackdown on his business empire. Ma, a celebrity businessman and one of the richest people in China, had not spoken publicly since regulators blocked the flotation of Ant Group, the financial payment company he controls. His absence had fuelled speculation that he may have fled China. On Wednesday, Ma, a former English teacher, participated in an online...

2021-01-20T13:54:18Z

The federal government is singing praises for its $2 billion HomeBuilder scheme as data shows a boom for the construction industry

The commencement of new private sector housing projects jumped 4% over the September quarter of 2020, with the value of major home alterations and additions climbing by 6.4%.

2021-01-20T04:09:21Z

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

'Absolute carnage': EU hauliers reject UK jobs over Brexit rules

A British freight company director with more than over 20 years experience has told how EU hauliers and transport companies are turning their backs on UK business because they are being asked to provide tens of thousands of pounds in guarantees to cover VAT or potential tariffs on arrival in Britain. The financial guarantee requirement did not exist before Brexit and EU transport companies who previously provided a shipping service for small and...

2021-01-20T13:55:41Z

These are the 15 jobs on the rise in Australia in 2021, according to data from LinkedIn

LinkedIn has revealed the jobs on the rise in Australia in 2021. These include mental health specialist roles and jobs in cybersecurity. It comes as the coronavirus pandemic has shifted the employment landscape in Australia, causing a drop in demand across tourism but a spike across digital content.

2021-01-20T01:08:53Z

Surge in summer holiday bookings thanks to the over-50s

Holiday bookings from the over-50s, who are likely anticipating being able to travel after having the coronavirus vaccine, is giving a much-needed boost to the industry.

2021-01-20T15:42:48Z

Biden inaugural address calls for unity as he vows to rebuild economy and defeat coronavirus

President Joe Biden on Wednesday called on Americans to unify two weeks after a deadly riot rocked the U.S. Capitol, as he pledged in his inaugural address to combat the coronavirus pandemic and rebuild the U.S. economy.

2021-01-20T17:37:05Z