Money

LNG production at Shell's Prelude gas processing plant in Western Australia restarts following 11-month closure

It was supposed to be an economical and environmentally safe solution to LNG production, but with almost a third of its short life in shutdown Shell's floating colossus may prove to be a mistake.


Dr. Martens boss to net estimated £58m from float

Kenny Wilson only joined from Cath Kidston in 2018 but will share in the windfall thanks to the boot-maker's £3.5billion valuation. The valuation would also hand £350m to 22 senior staff.


Asian markets gain as attention turns to upcoming earnings

Asian shares rose Monday amid some hopes for recovering economies slammed by the pandemic, as market attention turned to upcoming company earnings.


Oxfam report says rich getting richer and poor getting poorer amid coronavirus pandemic

With unprecedented support from global governments, the stock market has boomed, driving up billionaire's wealth even while the real economy has faced the deepest recession in a century and the poor have gotten poorer.


Dr Martens bosses and backers set for huge windfall in £3.5bn float

The British footwear brand Dr Martens is expected to launch a stock market flotation on Monday that would value the Northamptonshire firm at £3.5bn and generate a huge windfall for its bosses and backers. The company, known for its boots with chunky air-cushioned soles and distinctive yellow stitching, was owned until 2013 by the Griggs family, who sold to the private equity investment group Permira for £300m but retained a 10% stake. Just seven...


The Guardian view on the BBC: more than good value

Since its foundation in 1922, the BBC has had powerful enemies, usually commercial rivals, who think that it is “too bloody big, too bloody pervasive and too bloody powerful”, to quote the former Daily Mail editor Paul Dacre, still reportedly in the running to be made chair of the media regulator Ofcom. But since 1986, when the Peacock report ushered in a move from regulation to competition in broadcasting, this claim has been less and less...


Google says it will pull Search out of Australia if the government doesn't back down on the media bargaining code

Google Australia boss Melanie Silva has told a Senate Committee that the company could pull its search engine out of Australia. The threat comes as the tech giant demands the Australian government change proposed legislation that would compel it to pay local news companies.


US housing boomed in 2020 even as pandemic slammed economy

The US housing market boomed in 2020 even as the coronavirus pandemic caused one of the worst economic contractions of modern times, as Americans took advantage of low borrowing rates to buy homes. The surge in new and existing home sales, and home construction, underscores the unequal experience of the pandemic across the United States. Even as tens of millions of people lost their jobs due to the pandemic disruptions, others were able to...


ASX closes up 0.36pc, AUD at 77.4 US cents

Investors pocketed minors gains on the ASX before the Australia Day public holiday, as consumer and technology stocks proved best.


Aussies paying $140,000 to stay connected

Bills for the internet, mobile phones and streaming services quickly add up, but a changing market and 5G entering the fray means the chance for a better deal.


GameStop shares rocket as frustrated short seller walks away

Shares in GameStop rocketed on Friday as an activist short-seller said he was walking away from the stock in the retailer due to what he called an "angry mob" that has terrorized him and his family. Andrew Left of Citron Research put out word of the decision on Twitter a day after he posted a video at YouTube detailing reasons he was certain the retailer was overpriced in the market. GameStop shares ended the formal trading day up 51 percent,...


Samsung heir won’t appeal prison sentence for bribery

Samsung scion Lee Jae-yong will not appeal a court ruling that sentenced him to two and a half years in prison for bribing South Korea's then-president for business favors.


The Guardian view on India's farming revolt: a bitter harvest

Narendra Modi, India’s Hindu nationalist prime minister, has probably never read Lord Hailsham. But maybe he should. The former lord chancellor’s 1976 BBC lecture contains perhaps the most penetrating assessment of parliamentary democracy, of which India is its largest version. Lord Hailsham’s argument carries a constitutional lesson at an opportune moment for Mr Modi. The Conservative peer warned that Britain risked becoming an “ elective...


Boohoo 'set to buy' Debenhams' online business for £50m

Internet fashion retailer Boohoo has reportedly agreed to buy the online business of Debenhams


Inflation likely ended 2020 still subdued

The consumer price index is expected to have risen 0.7 per cent in the December quarter, keeping the annual rate also at 0.7 per cent.


French tech firm Schneider Electric tops global league of green firms

A Paris-based tech company has seen off competition from the world’s best-known green businesses to be named the most sustainable corporation on the planet. Schneider Electric has climbed the annual Global 100 index, from a ranking of 29 last year, offering the technology and energy solutions needed by the likes of retailer Walmart, hotel group Marriott and steel business ArcelorMittal to meet their climate targets. The annual green company...


Two men and a woman charged over alleged million-dollar gold theft at Coolgardie's Greenfields Mill

Three people are charged in connection with an alleged million-dollar gold theft in Western Australia's Goldfields, in which police say more than 8,000 tonnes of gold-bearing ore was stolen from a processing plant near Coolgardie.


When the bull market breaks, it’s ‘likely to break hard,’ warns longtime bear who suggests investors are putting too much faith in the vaccine

David Tice, the former manager of the Prudent Bear Fund, explained to CNBC why he believes the market will eventually take a 30% hit that will last two years.


SARAH VINE: We MUST help these children fulfil their hopes and dreams

SARAH VINE: As the mother of two children at inner-city London secondaries, I know how difficult life is for some pupils.


From factory to faraway village: behind India's mammoth vaccination drive

From factory to faraway village: behind India's mammoth vaccination drive


Aust shares dip but 1.27pc higher for week

ASX investors had minor losses on Friday but the market climbed for the week as first-half earnings season looms.


Global life insurers impose restrictions, worried about long-term pandemic risks

Global life insurers impose restrictions, worried about long-term pandemic risks


Oil prices edge lower as COVID-19 lockdown concerns overshadow demand prospects

Oil prices edge lower as COVID-19 lockdown concerns overshadow demand prospects


Treasurer Josh Frydenberg has accused Facebook and Google of 'shifting the goalposts' over the media bargaining code

Treasurer Josh Frydenberg has accused Google and Facebook of “shifting the goalposts” over the proposed media code, saying the tech giants were doing a disservice to Australians by threatening to shut down their search engines.


Simple hack that will get toddlers to take their medicine ANY time

An Australian mum has revealed her simple hack for ensuring her toddler takes his medicine, after she became sick of struggling with her son on a daily basis.


Asian shares near record highs as U.S. stimulus plans offset virus woes

Asian shares near record highs as U.S. stimulus plans offset virus woes


Larry King's sons reveal they are 'heartbroken' over father's death

Larry King's surviving children described him as an 'amazing father' in a heartfelt tribute, which they shared hours after news broke that he died on Saturday.


RUTH SUNDERLAND: Heading for tech trouble?

The tech shares boom is a product of greed and frustration. Sure, people are tempted by gains. But investors are disgusted at the terrible returns in safe deposit accounts and are moving into riskier assets.


China exports buoy Australia trade surplus

Australia recorded a $9 billion goods trade surplus in December, up from $7.4 billion in November, the Australian Bureau of Statistics says.


Most Asian markets rise with eyes on US stimulus push

Asian markets mostly rose Monday, rebounding from a sell-off at the end of last week as investors keep tabs on the progress of Joe Biden's new US economic rescue package. But it will likely face headwinds from Republicans who think another massive outlay comes too soon after the $900 billion spending package passed at the end of last year.


Postgraduate enrolments soar as jobseekers wait out competitive market at university

They're qualified and keen but the work simply is not there for many Australians doing it tough. Instead they're weathering the storm at university in numbers tipped to reach record highs.


China's Kuaishou aims to raise up to $5.42 billion in Hong Kong IPO

China's Kuaishou aims to raise up to $5.42 billion in Hong Kong IPO


From Belgium to Coonalpyn, migrant couple's 'wild ride' story of success in land Down Under

When the Ait-Touatis traded the hills of Vijlen in Belgium for the dusty backdrops of Coonalpyn in South Australia, they hoped to make a success of it. But what came next was beyond their highest expectations.


London stock market facing blockbuster IPO year

London will enjoy a very strong year for stock market flotations, analysts say, arguing that both Brexit and coronavirus offer firms a unique opportunity to expand. Various big-name businesses that have seen booming online demand from home-bound customers during Covid-19 lockdowns have revealed eye-catching plans for initial public offerings (IPOs) in recent weeks. Clarity over Britain's final departure from the European Union on January 1 acted...


U.S. oil refiners set for worst earnings quarter of the pandemic

U.S. oil refiners set for worst earnings quarter of the pandemic


Jab approval injects business positivity

As Australia's medicines regulator gives the tick of approval for the first coronavirus vaccine, the business community is anticipating a boost in confidence.


Tech’s ‘last hurrah’? If hedge funds are any indication, it could be a big week for Apple, Amazon and other megacap favorites

According to Goldman Sachs Group's prime brokerage, hedge funds increased their net exposure to megacaps in the technology sector at one of the fastest paces in recent years. This coming off a stretch where the "smart money" was unloading some of top names.


Covid leaves Boris Johnson with an expensive 'levelling down' problem

The economic impact of Covid will leave Boris Johnson’s government with a costly “double challenge” to level-up the north and Midlands while protecting the affluent towns and cities in southern England suffering most job losses, according to a report. Warning that the prime minister’s election promise to rebalance Britain’s lopsided economy had been made four times harder by the pandemic, the Centre for Cities said a dual approach to the...


Transforming Australia's recycling system could pump billions into the economy, the CSIRO says in a major report

Australia could boost its GDP by $1 billion per annum by boosting its recycling capacities by 5%, according to a new CSIRO report. The major paper makes the economic and environmental case for an Australian 'circular economy' based on reducing waste and repurposing materials.


GAVIN WILLIAMSON: I welcome this boost from the Mail and its readers

GAVIN WILLIAMSON: Laptops and devices have been in high demand across the world and it has been a massive procurement exercise to get hold of them.


WA Government launches police recruitment drive as Liberals pledge millions for trade

The State Government has launched a $1.8 million advertising blitz to recruit police officers following its budget commitment to add an extra 800 police if re-elected in March.


Reliance profit soars despite oil business slump

Indian conglomerate Reliance Industries on Friday said that its profit soared 12.5 percent during the last quarter of 2020 despite sharp revenue fall in its dominant oil-to-chemicals business. The 12.5 percent growth figure was in line with the market estimates after a 15 percent fall in its quarterly profits during the quarter ending September 2020.


Tesla investment reaps $29bn profit for Edinburgh fund

Elon Musk has made so much money from Tesla that he is now the richest person on the planet. However, the second-biggest winners are investors in an Edinburgh-based investment fund that began backing Musk’s electric car company in 2013. Scottish Mortgage Investment Trust’s investments in Tesla have made an extraordinary $29bn (£21bn) for investors including pension funds, foundations and charities, according to figures released to the Guardian....


Australia Day is no longer an obvious and uncontroversial commercial winner for brands. Here's how the conversation has changed.

Australia Day used to be an obvious and uncontroversial occasion for brands to endear themselves to Australian consumers. No longer. There has been a decided shift over the past decade in commercial attitudes to January 26, acknowledging the problematic nature of the date’s choice as our day of national celebration to our First Nations.


European lenders exit Amazon oil trade after scrutiny by campaigners

European lenders exit Amazon oil trade after scrutiny by campaigners


World’s biggest hedge-fund manager ‘thrilled’ with Biden’s inauguration speech but still believes America’s on ‘brink of a terrible civil war’

Back in early December, Ray Dalio, the billionaire founder of Bridgewater Associates, sounded the alarm on class and power struggles that are tearing the country apart. It hasn't improved much since then, apparently.


NSW to play Cupid to boost R&D funding

A matchmaking platform linking research providers to investors will be launched as part of the NSW government's new R&D action plan.


SpaceX rocket deploys record-setting cargo

SpaceX on Sunday launched its Falcon 9 rocket carrying a record number of satellites on board, the private space company said.


Final Trump administration attempt to address citizenship in census data shelved

Critics said Trump team's multipronged effort to shoehorn citizenship data into the 2020 census would result in an intentional undercount of minorities to favor Republicans and whites in redistricting.


Australian seafood is bountiful and these tasty, inexpensive types are yet to find their customer

Australians have access to thousands of locally-caught commercial fish species, but most people only eat about 20 types. Is it time to try something a little more unusual?