Category Archives: Business

Politics live: James Paterson calls for security vetting of Australian parliament staff in wake of UK espionage scandal

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Shadow home affairs minister calls for extra checks ‘at the very least for MPs who work on sensitive committees’. Follow today’s live news updates

Ley defends pharmacists’ opposition to 60-day dispensing rule for prescriptions

The interview then gets to the issue of pharmacists and the change the government made to allow for 60-day dispensing (two-for-one prescriptions) which will save chronically ill patients up to $180 a year (as well as money on less trips to the doctor, travel etc.) but will cost pharmacists up to $150,000 a year (from the fourth year of the change) in lost dispensing fees (plus people buying fewer ‘incidentals’ such as jelly beans).

I’ve been in contact with many pharmacists over recent weeks, including those who left their businesses and assembled here a couple of weeks ago and I really am concerned about the impact this policy change is going to have.

I’m hearing [about] pharmacies who are already laying off staff. They’re already letting people go and most importantly, they can’t continue to provide the previously free support services that they used to …

Because they’ve told me.

Because if the government has changed the contract it has with pharmacy and is paying them less, they have to change their business in response. It’s as simple as that.

I would like to absolutely recognise the contribution she has made. She has been a trailblazer for our party. She has changed national politics and I have seen the work that she’s done over many years, much of it very modest, very behind the scenes, very in community.

So people often think of her as a defence and foreign affairs minister. I’ve seen her as a local champion for Western Sydney, and disadvantaged people across this country, and I have yeah, I mean, I’ll be really sad to see her go.

Always standing up for Australia’s national interest and a safer, stronger region. It’s as simple as that.

I think we did extremely good work with the Solomon Islands and, indeed, with the Pacific and people are looking at this through the lens of Covid and suggesting that we could have done more when, in fact, travel was an impossibility. I think that issue is well and truly being put to bed.

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Former rubbish dump in Essex becomes UK’s third largest solar farm

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Ockendon solar farm to generate enough clean electricity to power the equivalent of 15,000 homes


The largest solar farm in Europe to be built on a closed landfill site has begun generating renewable electricity from a former rubbish dump in Essex.

The Ockendon solar farm, the third largest in the UK, includes more than 100,000 solar modules covering 70 hectares (173 acres) of land.

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UK firms ‘slow output and rein in hiring as borrowing costs rise’

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Survey of businesses gives further indication that Bank of England could limit future interest rate rises

Businesses are pulling back on hiring and slowing their output under the strain of rising borrowing costs, according to a study that gives a further signal that the Bank of England could limit future interest rate rises.

A modest pickup in manufacturing in August failed to prevent a slowdown in broader UK private sector economic activity, a survey of businesses by the accountancy firm BDO found.

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UK’s net zero ambitions at risk after ‘disastrous’ offshore wind auction

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Industry figures and the TUC warn of missed carbon reduction targets and lost jobs unless government boosts green investment

Fears are growing that existing offshore wind projects could be shelved, after industry insiders warned that “disastrous” handling by the government had created a big shortfall in future renewable energy.

Ministers revealed last week that no additional offshore windfarms will go ahead in the UK after the latest government auction. No bids were made in the auction, after the government ignored warnings that offshore schemes were no longer economically viable under the current system.

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New Natwest boss worked for oil firm under investigation in ‘world’s biggest financial scandal’

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Exclusive: Rick Haythornthwaite was paid £200,000 a year by Saudi company, PetroSaudi, involved in 1MDB scandal

Read more: The NatWest boss, the missing Malaysian millions and the damning email

The new chairman of NatWest is facing scrutiny over his former role with international oil group PetroSaudi, which is embroiled in one of the world’s biggest financial scandals.

City veteran and former MasterCard boss Rick Haythornthwaite worked for PetroSaudi International (UK) Ltd, the oil group’s British arm, for eight years, earning £200,000 a year.

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The fall of Woking: what happens after a council goes bust

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Woking declared itself bankrupt in June. Now, residents want answers as care, arts and leisure facilities face funding cuts

On a clear day, the council’s ambitious plan was for Woking’s tall buildings to be seen from the viewing levels of the Shard in London. Residents, however, view the unfinished towers with much less pride and a symbol of the Surrey town’s financial woes.

Woking borough council this week announced a sweeping package of cuts to local services, after the local authority in effect declared itself bankrupt in June, revealing a £1.2bn deficit racked up from a risky investment spree overseen by its former Conservative administration. The towers were at the centre of the problem, with cost overruns adding to vast debts.

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Chinese economy out of deflation but faces threat of relapse

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Slow domestic consumption, high youth unemployment and decline in exports among factors dragging on post-Covid recovery

China’s consumer price index rebounded in August as the world’s second-largest economy emerged from deflation, official data released on Saturday suggested, despite sluggish domestic consumption that is complicating its post-Covid economic recovery.

Last month’s CPI, the main gauge of inflation, rose 0.1% year on year, the national statistics bureau said.

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Richard Goyder is sticking with Qantas after Alan Joyce’s exit. But how many board positions is too many?

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The chair of Qantas also holds positions at Woodside, the AFL, the West Australian Symphony Orchestra and Channel Seven Telethon Trust, raising questions of how much is too much

Richard Goyder has vowed to remain as the chairman of Qantas despite questions about the airline’s corporate behaviour and a potentially damaging court case over allegations it sold tickets for thousands of already cancelled flights.

But the veteran business leader holds five chairmanships – including at Qantas, Woodside and the AFL – prompting questions from governance experts over how much is too much.

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Costa Coffee recalls sandwiches and wraps amid fears they contain stones

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Retailer warns there may be ‘small stones’ in four products from its range and urges customers to return them for refund

Costa Coffee has recalled some of its range of sandwiches and wraps after it emerged that they could contain small stones.

The chain warned customers that four of its products could be affected, and that they could pose a choking hazard if they were eaten.

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China reportedly extends iPhone ban to more workers as tensions with US rise

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Apple shares fall as local government and state-owned firms latest to face restrictions on devices at work

China’s government has reportedly expanded its ban of iPhones to local government workers and state-owned companies, a day after it emerged central government employees were forbidden from bringing the devices to work.

Several agencies had begun instructing employees not to bring iPhones to work and the ban was expected to be further extended, Bloomberg reported. Nikkei reported at least one state-owned company had told its employees that anyone working with trade secrets could not bring their iPhones, Apple Watches or AirPods into work from next month.

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Getir value ‘drops to $2.5bn’ as shoppers move away from convenience

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Value of fast-track grocery delivery service believed to be quarter of the $11.8bn it was worth 18 months ago

The fast-track grocery delivery service Getir is reportedly now worth a quarter of what it was valued at 18 months ago, after a big shakeout in the sector amid declining consumer demand.

The Istanbul-based company is raising $500m in a funding round that will value the business at $2.5bn and is expected to close later this month, according to a Financial Times report citing people familiar with the matter.

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Germany backs tariff delay on electric vehicle sales between UK and EU

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Manufacturers face 10% levies under post-Brexit trade deal but German government supports postponement

Carmakers could be in line for a reprieve after it emerged that Germany is backing calls to postpone tariffs on electric vehicle sales between the UK and the EU.

Manufacturers in the UK and on the continent face the prospect of 10% levies on new electric vehicles that cross the Channel from January under the post-Brexit trade deal agreed between Britain and the bloc in 2020.

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Twitter ‘unfit’ for banking over alleged complicity in Saudi rights abuses

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Lawyers for family say Saudi government took brother’s data in breach and ‘arrested, tortured, and imprisoned’ him and others

The company formerly known as Twitter is “unfit” to hold banking licenses because of its alleged “intentional complicity” with human rights violations in Saudi Arabia and treatment of users’ personal data, according to an open letter sent to federal and state banking regulators that was signed by a law firm representing a Saudi victim’s family.

The allegations by lawyers representing Areej al-Sadhan, whose brother Abdulrahman was one of thousands of Saudis whose confidential personal information was obtained by Saudi agents posing as Twitter employees in 2014-15, comes as Twitter Payments LLC, a subsidiary of X (the company formerly known as Twitter), is in the process of applying for money-transmitter licenses across the US.

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Dymocks warns customer records may be on dark web after possible data breach

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Bookseller’s managing director says potential hack was detected on Wednesday and investigation has been launched

Bookstore chain Dymocks has warned customers of a possible data breach that could lead to their personal information being leaked on the dark web.

In an email sent to members on Friday, the bookseller’s managing director, Mark Newman, said a potential hack was detected two days earlier.

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Marise Payne to quit parliament – as it happened

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This blog is now closed.

The Bureau of Meteorology is urging people in western Sydney, southern and central ranges and the Hunter region to tidy up loose items around their yards as damaging winds are extending over the areas today.

Gusty storms may hit Sydney and the Central Coast today, while there are possible severe storms heading to the Northern Rivers and Mid North Coast this afternoon, with a risk of damaging winds and large hail, the BoM says.

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Australia politics live: Kylea Tink calls out ‘overly aggressive and personalised’ question time debate

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Follow today’s live news updates

If you want to make a submission to the government about the Australian aviation industry, the link to the green paper is here

The green paper is public consultation. It comes before the white paper, which is a discussion paper provided to the parliament. White papers lay out the issues with context (the whole picture as it were) and then make recommendations on what needs to happen.

I consulted colleagues prior to the decision, but the decision was mine.

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Offshore wind expecting to lose out in auction for UK financial help

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Energy industry experts say steep rise in costs could result in few projects submitting bids

Britain’s offshore wind industry is expecting to lose out on financial help for projects toward meeting the UK’s climate goals, because soaring inflation means developers are not able to compete for crucial government support.

Ministers are expected to announce the results of the latest auction for financial support contracts this Friday, but energy industry insiders suggest it could be a damp squib in a potential blow to the UK’s climate goals.

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Number of Britons facing significant internet outages doubles in a year

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Two-fifths of UK adults disconnected for three hours or more with one in four left without service for nearly a week

The number of Britons who have experienced their internet connection failing for at least three hours has almost doubled in the last year, with irate consumers now ranking broadband outages as a bigger frustration than roadworks or public transport delays.

In the past year, two-fifths (41%) of all UK adults – 22 million consumers – have had their internet disconnected for three or more hours, a significant increase on the 12 million who reported disruption the previous year, according to a report by the price comparison website Uswitch.

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NatWest expected to name ex-Centrica boss as chair after Farage saga

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Rick Haythornthwaite, who leads boardrooms of Ocado and the AA, lined up to succeed Howard Davies

NatWest is expected to announce shortly that a former Centrica boss will be its next chair, as the lender continues to deal with the fallout from the scandal surrounding the threatened closure of Nigel Farage’s bank accounts.

Rick Haythornthwaite – who previously chaired Network Rail and Mastercard as well as the British Gas owner and currently leads the boardrooms of Ocado and the AA – could be confirmed as a successor to Howard Davies as early as Wednesday afternoon, the Guardian understands.

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Toyota blames factory shutdown in Japan on ‘insufficient disk space’

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‘Just in time’ production system minimises costs but technical glitch highlights risks

Toyota has blamed a recent shutdown of all of its factories in Japan on a system malfunction caused by “insufficient disk space”.

The Japanese carmaker said the stoppage on 29 August at all 14 of its domestic plants occurred after servers that process orders for vehicle parts broke down following a maintenance procedure carried out the previous day.

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