Category Archives: Business

RBA governor says inflation still above target; Matt Kean to retire from politics – as it happened

Posted on by

This blog is now closed

Liberals criticise treatment of journalist by Chinese officials at press conference

Opposition foreign affairs spokesman Simon Birmingham has condemned the treatment of journalist Cheng Lei at federal parliament yesterday.

This was an entirely counterproductive and inappropriate act by Chinese officials that should have been called out by our prime minister and government officials.

It is a reminder that we have two very different systems, the Chinese system and the Australian system, different systems of government, of course as a democracy, different respect when it comes to media, to freedom of speech, but this visit is taking place in Australia.

It is concerning, I think a lot of this comes from so many Australians genuinely doing a tough at the moment, having to make really tough decisions, from telling their kids that they can no longer play basketball or be part of the scouts group because they can’t afford the … 500 bucks a year that costs, to other Australians who are deciding between going to see the GP or fulfilling a script and putting food on the table.

People are doing it tough and so when they hear politicians talk about these targets in the future … I think Peter Dutton use this to whip up fear.

Continue reading...

Australian online seller Booktopia enters share trading halt a fortnight after major job cuts

Posted on by

Bookseller tells ASX it will announce outcomes from strategic review, including ‘progress in seeking additional funding’

Australia’s largest online bookseller has entered into a voluntary share trading suspension, just two weeks after axing 50 jobs and losing its chief executive.

Booktopia Group Ltd notified the Australian Securities Exchange (ASX) on Monday, saying its securities would be suspended from quotation immediately pending an announcement on “further outcomes” from a strategic review, “including its progress in seeking additional funding”.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Investment in UK has trailed other G7 countries since mid-1990s, IPPR says

Posted on by

Institute for Public Policy Research urges Labour and Conservatives to reverse planned cuts

Investment in the UK has trailed other G7 countries including the US and Germany since the mid-1990s, according to a report that urges Labour and the Conservatives to reverse planned cuts to investment or risk long-term damage to economic growth.

The Institute for Public Policy Research (IPPR) thinktank found the UK was bottom of the G7 league for investment in 24 out of the last 30 years, using figures from the Organisation for Economic Co-operation and Development (OECD).

Continue reading...

Seven hires comedian Mark Humphries to parody weekly news

Posted on by

Humphries’ weekly satirical sketches ran for five years on the ABC before being axed last year

Less than a year after the ABC dropped the regular satirical segment on 7.30, Seven News has hired comedian Mark Humphries to continue the tradition of making fun of the news at the end of the week.

Seven’s new director of news and current affairs, Anthony De Ceglie, has recruited Humphries to perform a segment for the Sydney bulletin, with a view to expanding the spot nationally.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Virgin Australia plane makes emergency landing – as it happened

Posted on by

This blog is now closed

Ex-Liberal staffer Bruce Lehrmann arrives at a Toowoomba court

Bruce Lehrmann arrives at a Toowoomba court for a committal hearing into allegations he raped a woman in 2021.

Continue reading...

UK manufacturers expecting boost in second half of 2024

Posted on by

Make UK survey foresees growth in sector, but warns next government must tackle skills shortage

Britain’s largest manufacturers are expecting orders and output to increase dramatically in the second half of the year, even as a chronic shortage of skilled workers is threatening the ability of some companies to do business.

Manufacturing is returning to normal business conditions after wild swings in demand during the pandemic, disruptions in prices after the Russian invasion of Ukraine, and the effect on supply chains of blockages and conflict around the Suez canal, according to a survey of 320 companies by the trade body Make UK.

Continue reading...

Third UK sandwich maker recalls product, saying it is a precaution

Posted on by

Plant-based food company This has not detected E coli in the wrap but is concerned about possible contamination

A third sandwich and wrap manufacturer has recalled one of its products after an E coli outbreak that has left 67 people in hospital and more than 200 in total seriously ill.

On Sunday evening the Food Standards Agency (FSA) said This had “taken the precautionary step of recalling its This Isn’t Chicken and Bacon wrap because of possible contamination with E coli”.

Continue reading...

FAA investigates after Southwest plane drops to ‘within 400ft’ of Pacific Ocean

Posted on by

News comes as US regulators investigate separate incident after Boeing 737 Max 8 plane did a ‘Dutch roll’ in May

The Federal Aviation Administration is investigating after a Southwest Airlines flight reportedly plunged to “within 400ft” of the Pacific Ocean during a flight.

A memo distributed to Southwest pilots, obtained by Bloomberg, said that the Boeing 737 Max 8 plunged at a rate of 4,000ft a minute off the coast of Hawaii, coming within hundreds of feet of the ocean before climbing to safety.

Continue reading...

Virgin Australia delays vote on controversial enterprise agreement that would cut pilots’ days off

Posted on by

Exclusive: Last-minute decision comes as Civil Aviation Safety Authority says it is ‘engaging’ with airline on concerns rostering is leaving pilots fatigued

Virgin Australia has made a last-minute decision to delay putting a controversial pilots’ enterprise deal to vote, after outcry about its plan to cut days off and concerns that pilot rostering was nearing unsafe limits.

The decision comes as Civil Aviation Safety Authority (Casa) officials flagged they were aware of fatigue concerns over Virgin Australia’s pilot rostering after the Guardian revealed internal disquiet on the issue among senior pilots and frustration at what they felt was an inadequate response from management.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Australian banks to alert customers on interest rate moves under changes to get savers better deals

Posted on by

Move comes after consumer watchdog found banks were using pricing strategies that were highly complex or took advantage of the tendency to set and forget

People will be alerted each time their interest rate moves and when promotional offers expire under a suite of changes aimed at prodding bank customers to snag a better deal.

The federal government plans to act on a number of recommendations from two Australian Competition and Consumer Commission reports that found bank customers could earn and save more if not for barriers stopping them switching to better offers.

Continue reading...

London Stock Exchange CEO honoured in king’s birthday list

Posted on by

Julia Hoggett awarded damehood for services to business, while HSBC chair Mark Tucker receives knighthood

• Business live – latest updates

The head of the London Stock Exchange (LSE) and the chair of HSBC are among the business leaders to be recognised this year in King Charles’s birthday honours list.

Julia Hoggett, a former banker who has been the chief executive of the London Stock Exchange since 2021, has been awarded a damehood for her services to business and finance.

Continue reading...

Russian ties and cheap tech: G7 leaders unequivocal in criticism of China

Posted on by

Concerns set out over supply of materials with military applications, and impact of subsidies on global market

China’s role in providing assistance to Russia in its war against Ukraine, and its “harmful overcapacity” in the production of cheap goods, have been targeted by G7 leaders despite misgivings from Germany.

On the second day of the annual summit, being held in Puglia under the Italian chair, the US drove home a 36-page communique that condemned Chinese subsidies for products such as solar panels and electric cars which it said were leading to “global spillovers, market distortions and harmful overcapacity … undermining our workers, industries, and economic resilience and security”.

Continue reading...

Elon Musk’s $45bn Tesla pay package not a done deal, say legal experts

Posted on by

Although shareholders have backed chief executive’s remuneration deal, doubts remain over whether he will be able to access share-based package

Tesla’s battle to reinstate Elon Musk’s $45bn (£35bn) pay package is far from over, according to legal experts, despite shareholders backing the chief executive’s remuneration deal.

Investors in the electric carmaker re-ratified the pay deal on Thursday after it had been struck down by a judge in the US state of Delaware. The company’s chair, Robin Deynholm has already pledged to “put it back in front of the court”.

Continue reading...

US bank Wells Fargo fires employees for ‘simulating’ being at their keyboards

Posted on by

Workers were sacked after review found they were ‘creating impression of active work’, says filing

The US bank Wells Fargo has fired more than a dozen workers for alleged “simulation of keyboard activity”, in an apparent attempt to fool their employer into thinking they were working.

The employees were “discharged after review of allegations involving simulation of keyboard activity creating impression of active work”, according to a filing with the Financial Industry Regulatory Authority.

Continue reading...

Police investigate after pro-Palestinian slogans graffitied on Canberra war memorial – as it happened

Posted on by

This blog is now closed

The education minister, Jason Clare, has said stricter regulations on social media for teenagers had bipartisan support.

Speaking to Channel 7’s Sunrise, Clare called social media a “cesspit”, and added that Labor’s age verification trial would be the first step to protecting young people.

I think we all agree that social media’s a cesspit. We all agree we don’t want our kids on it. It’s about how do you do it?

This should be something where the Labor party and the Liberal party can work together.

Continue reading...

Children near Amsterdam airport use inhalers more, study finds

Posted on by

Results show increase in symptoms such as wheeziness in presence of high aviation-related ultrafine particles

As the public hearings for London Gatwick airport’s northern runway resume, researchers from the Netherlands have found greater inhaler use in children living near Amsterdam’s Schiphol airport.

Stand close to a large airport and, if the wind is in the wrong direction, each cubic centimetre of air that you breathe will contain tens of thousands of ultrafine particles (UFP).

Continue reading...

Stellantis says it will ‘fight’ for electric car sales rather than hide behind tariffs

Posted on by

The owner of Vauxhall, Jeep and Fiat says it opposes EU measures against Chinese EVs and wants to compete ‘as a global company’

The owner of the Jeep, Fiat and Vauxhall brands has said it will not take a defensive stance in the battle for electric car sales, amid signs of an escalating trade war in the market between Europe and China.

Stellantis’s chief executive, Carlos Tavares, has criticised the EU tariffs on imported Chinese cars announced on Wednesday and said the world’s fourth biggest carmaker preferred to “fight to stay competitive”.

Continue reading...

Australia news live: person ‘likely’ with dementia made call to police before 92-year-old allegedly assaulted by police, Karen Webb says

Posted on by

Follow the day’s news live

Chalmers asked about findings that jobseekers unable to afford ‘basics of life’

The treasurer Jim Chalmers was up on ABC News Breakfast just earlier, asked about new Anglicare data showing Australians on income support are “structurally unable to afford the basics of life”.

This is the primary motivation for the substantial cost of living relief that we’re providing in the budget. Whether it is the tax cuts for every Australian taxpayer, energy bill relief for every household, help with student debt and cheaper medicines, plus the increases to jobseeker – which were in the budget before last – all of these are important ways that we can not just understand and acknowledge the pressures that people are under, but actually respond to them.

Continue reading...

More than half of UK students working long hours in paid jobs

Posted on by

Lack of maintenance support is creating two-tier higher education system, say experts

More than half of full-time students are working long hours in jobs to support themselves at university, spending nearly two days a week in paid employment during term time, owing to the cost of living crisis.

A survey of 10,000 full-time UK undergraduates by the Higher Education Policy Institute (Hepi) found a record 56% had paid employment while they were studying, working an average of 14.5 hours each week.

Continue reading...

Australia’s unemployment rate dips to 4% as economy adds 40,000 new jobs

Posted on by

Jobless rate eases as employers shrug off rising costs to keep adding to their workforces

Australia’s unemployment rate eased last month as employers shrugged off rising costs including higher interest bills to keep adding to their workforces.

The jobless rate was 4% in May, the Australian Bureau of Statistics said on Thursday. That was in line with economists’ predictions and was a slight drop from April’s 4.1%.

Continue reading...