Poundland moves to buy 71 Wilko sites with possible jobs guarantee for staff

PwC says owner plans to reopen stores under Poundland brand throwing lifeline to as many as 1,800 staff

Poundland is to acquire up to 71 Wilko sites that it intends to reopen under its own brand in a deal that could throw a lifeline to some of the about 1,800 staff who will lose their jobs at the stricken retailer.

Under the deal struck by administrators PricewaterhouseCoopers (PwC) with Poundland’s parent company Pepco, the sites will be acquired only after all 408 Wilko stores are shut and more than 12,000 staff made redundant.

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The owner of Bunnings and Kmart is now in the prescriptions business, raising fears over patient data

Doctors and pharmacists concerned that Wesfarmers’ acquisition of InstantScripts could end the notion that ‘health data is sacrosanct’

The integration of a controversial online doctor service alongside Bunnings, Kmart and hundreds of pharmacies in the Wesfarmers portfolio has raised concerns among medical practitioners about potential risks to patient data security.

InstantScripts sprang to prominence during the pandemic, offering an alternative to the GP by generating prescriptions via an online form that was then remotely checked by a doctor. The business covers 300 low-risk drugs that patients can either pick up from a pharmacist or get delivered directly to their home.

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ACCC delays decision on Coles buying milk processing plants from Saputo

Dairy farmers warn the deal could reduce competition and lead to lower prices for producers

The Australian consumer watchdog has delayed its decision on the acquisition by supermarket giant Coles of two major milk processing facilities, which dairy farmers warn would further reduce competition and lower milk prices.

In April, Coles announced it had purchased two fresh milk processing plants from dairy processor Saputo for $105m, subject to regulatory approval from the Australian Competition and Consumer Commission (ACCC).

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UK ‘mortgage meltdown’ looms amid ‘terrifying’ growth in arrears

Jump in borrowers unable to make payments with landlords particularly hit and ‘worse to come’

Mortgage arrears jumped by 13% in the second quarter of the year to the highest level since 2016, according to Bank of England figures that underscore the stress in the UK mortgage market.

Rising interest rates and unemployment over recent months have put pressure on household disposable incomes, forcing some families to cut or suspend their monthly mortgage payments.

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Sarah Burton to leave fashion house Alexander McQueen after two decades

The brand’s creative director shot to international fame for creating the Princess of Wales’s wedding dress

Sarah Burton, the creative director of Alexander McQueen who designed the Princess of Wales’s wedding dress, is leaving the fashion house after more than two decades.

In a statement released on Monday, Kering, the brand’s parent company, announced that its show on the 30 September during Paris fashion week will be Burton’s last.

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Coalition and employers back David Pocock over splitting contentious industrial relations bill

ACT senator wants to move forward with workers’ compensation for PTSD and banning discrimination against employees experiencing domestic violence

Employer groups and the Coalition have backed calls from David Pocock to split Labor’s industrial relations bill and deal with uncontentious parts this year, including workers’ compensation and discrimination law reforms.

The influential crossbencher is considering moving a private senator’s bill to move forward with provisions improving access to workers compensation for post-traumatic stress disorder in the ACT as a priority.

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Soft landings, sticky inflation: a top economist on key challenges for Australia and the world

S&P Global’s chief economist Paul Gruenwald believes interest rates will stay elevated for some time

Soft landings, sticky inflation, the dash to decarbonise and great power rivalry including the emergence of India are among subjects exercising Paul Gruenwald, S&P Global’s chief economist.

New York-based Gruenwald, whose career includes stints at the International Monetary Fund and ANZ, was speaking ahead of an economists’ briefing in Sydney on Tuesday.

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

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

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’

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

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’

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

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

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?

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

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

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

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

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

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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