Category Archives: Business

Bonza fleet’s grounding extended – as it happened

Posted on by

This blog is now closed.

Prime minister says trial ongoing into funding for women escaping violence

The prime minister, Anthony Albanese, is speaking to ABC RN about yesterday’s announcements after national cabinet.

Well, there is already a trial going ahead. We want to make sure that the processes are in place [so] that they will begin within the next financial year as a permanent program, not just offering financial support, but as well as offering support for referral services, risk assessments, safety planning, and other support …

This isn’t something that you solve with a meeting on one day. This is something that governments are determined to take action on. For some of us this is deeply personal, for others, it is incredibly important.

Continue reading...

Two 17-year-old climate activists claim WA premier Roger Cook defamed them over Woodside protest

Posted on by

Emma Heyink and Tom Power say the premier made false comments about protest at company’s annual general meeting

Two 17-year-old climate activists are alleging the Western Australian premier, Roger Cook, defamed them by falsely claiming during a press conference they intimidated and threatened the children of the CEO and chair of petroleum giant Woodside Energy.

The two teenagers, Emma Heyink and Tom Power, are activists involved with campaign group Disrupt Burrup Hub and were involved in a protest at the Woodside annual general meeting at Crown Casino last Wednesday.

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

Continue reading...

Bonza administrators in global talks on grounded budget carrier that helped ‘push down air fares’

Posted on by

Transport minister Catherine King says it is unlikely the airline will be saved, while insiders think repossessed planes will be returned to the US

The administrators determining Bonza’s future have held round-the-clock talks, including with international aviation figures and the owner of the airline’s aircraft, as Australia’s airports maintain the budget carrier was “instrumental in improving competition and pushing down air fares”.

Administrators had meetings scheduled late on Wednesday evening and into Thursday morning with “key industry participants” in Australia and overseas, their second day working to such a schedule. They also had an “open dialogue with the lessor of the company’s fleet” of Boeing 737 Max 8 planes that remain parked at airports across the country.

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

Continue reading...

Qantas passengers’ personal details exposed as airline app logs users into wrong account

Posted on by

Airline investigating whether privacy breach allowing customers to view others’ account details was caused by ‘recent system changes’

Potentially thousands of Qantas customers have had their personal details made public via the airline’s app, with some frequent flyers able to view strangers’ account details and possibly make changes to other users’ bookings.

Clare Gemmell from Sydney said that she and four colleagues encountered the problem shortly after 8.30 on Wednesday morning.

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

Continue reading...

‘The model is broken’: Brisbane live music venue the Zoo to close after 32 years

Posted on by

Fortitude Valley institution and sister venue Stranded will soon shut as owner cites cost-of-living pressures and young people drinking less

The Brisbane music venue the Zoo will call last drinks in July, with the owner listing a “perfect storm” of forces leading to its closure, including cost-of-living pressures and declining alcohol consumption among young people.

The 500-capacity room, which first opened its doors on Ann Street in 1992 in the formerly down-at-heel but now heavily gentrified inner suburb of Fortitude Valley, is one of Australia’s oldest music venues.

Continue reading...

Dividends payments soar globally as worker pay stagnates

Posted on by

Shareholder payouts grew 14 times faster than wages over past three years, says Oxfam report

Shareholders have proved to be more successful at securing bumper payouts than workers have at winning higher pay, according to two studies that show dividends outstripping wages by a considerable margin in recent years.

Oxfam said analysis of global data showed that dividend payments to shareholders over the last three years grew an average of 14 times faster than worker pay across 31 major economies.

Continue reading...

Food importers in UK say new Brexit checks could add 60% to costs

Posted on by

Businesses say fees for Dover inspections are much higher than first thought and will push up shop prices

Importers of food from the EU into Britain have said newly introduced post-Brexit checks could increase their costs by up to 60%, pushing up prices for customers and driving some shops out of business.

After five previous delays, the UK government on Tuesday introduced the physical checks on animal and plant products entering from the EU, having revealed at the start of this month that it would be implementing a common user charge (CUC) of up to £145 per consignment.

Continue reading...

Grounded: Bonza set to join long list of failed Australian airlines

Posted on by

Australia’s aviation industry, dominated by the Qantas-Virgin duopoly, may have claimed another victim – but it’s far from the first to fall

The future of Bonza is in limbo as the fledgling budget airline enters voluntary administration – a well-trodden path in Australian aviation.

While Tuesday’s developments may come as a blow to competition in an industry dominated by a duopoly, the abrupt cancellation of services and seizure of planes will trigger memories of a long history of fallen Australian carriers.

Continue reading...

AGL’s use of Centrepay not audited for two years despite allegations it wrongly took $700,000 from vulnerable Australians

Posted on by

Services Australia says it is also working to retrieve overpayments from Queensland’s Ergon Energy

The federal government has not audited AGL’s use of Centrepay in two years despite revelations that the energy giant wrongly received more than $700,000 in welfare money from its former customers through the government-run debit system.

A Guardian Australia investigation of Centrepay, a system allowing businesses access to welfare payments before they hit recipients’ bank accounts, has revealed significant failings.

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

Continue reading...

Nationwide stops lending on some flood-risk properties

Posted on by

Banks may follow suit after UK weather-related claims on home insurance reach new high

Britain’s biggest building society has stopped granting mortgages on some properties where there is a high risk of flooding but said this affected only “a very limited number” of homes.

Nationwide’s head of property risk, Rob Stevens, said the lender used mapping technology to identify which homes were vulnerable to flooding, and it would decline to grant a mortgage to buy a property it deemed to be at high risk.

Continue reading...

Fears of Putin swinging elections behind EU’s Meta crackdown

Posted on by

Action against Facebook owner comes amid concerns about how it is dealing with fake news

Fears that Vladimir Putin is trying to fill the European parliament with more pro-Russia MEPs were behind the EU’s blunt message to the Silicon Valley owner of Facebook on Tuesday.

It gave Meta just five days to explain how it will root out fake news, fake websites and stop adverts funded by the Kremlin or face severe measures.

Continue reading...

Eurozone exits recession as ‘big four’ economies beat forecasts

Posted on by

France, Spain, Germany and Italy helped by lower inflation and prospect of interest rate cuts

The eurozone has bounced back from its shallow technical recession after a stronger than expected performance by its “big four” economies in the first three months of 2024.

After two successive quarters of 0.1% contraction in the second half of 2023, the 20 nations that use the single currency posted growth of 0.3% between January and March.

Continue reading...

Portland State University ‘pauses’ Boeing donations amid student protests

Posted on by

Students called on the school to cut ties with the weapons manufacturer, which donated $150,000 this year

A university in Portland, Oregon will “pause” accepting donations from Boeing after students called on the school to cut ties with the manufacturer amid the war in Gaza.

In addition to setting up an encampment on campus, students also addressed a letter to Ann Cudd, the president of Portland State University (PSU), demanding the university cut ties with Boeing.

Continue reading...

Mining firm BHP offers $25.7bn settlement for Brazil dam disaster

Posted on by

Australian company and its partner Vale unleashed largest spill of mining waste in history

The mining company BHP has said it hopes to secure a $25.7bn (£20bn) settlement over the 2015 Samarco disaster, when the collapse of a dam left at least 19 people dead, 700 homeless and spread unprecedented levels of pollutants across the rivers and landscape of Brazil.

BHP said it had offered the settlement to the Brazilian authorities in partnership with fellow miner Vale, its 50:50 joint venture partner in a local subsidiary, Samarco.

Continue reading...

Delivery firm Getir to quit UK, Europe and US and focus on Turkey

Posted on by

Grocery service grew during Covid pandemic but has retreated amid competition and waning demand

The grocery courier firm Getir is to quit the UK, Germany, the Netherlands and the US to focus on its home market of Turkey amid heavy competition and waning demand for rapid home deliveries.

The closure marks the latest shakeout of the fast grocery delivery industry which grew rapidly during the Covid pandemic but has sharply retreated since.

Continue reading...

EU to investigate Meta over election misinformation before June polls

Posted on by

Brussels to act later this week against Facebook and Instagram owner over policies on deceptive advertising and political content, reports say

The EU is set to launch formal proceedings against Meta, the owner of Facebook and Instagram, amid concerns it is not doing enough to counter Russian disinformation before the EU elections in June, according to reports.

It is also expected to express concerns about the lack of effective monitoring of election content and a potentially inadequate mechanism for flagging illegal content.

Continue reading...

‘Watershed moment’ for Tesla as Elon Musk’s visit to China reaps quick reward

Posted on by

Deal to use mapping data from web search giant Baidu is a big step towards launching driver assistance tech in world’s biggest car market

Elon Musk’s visit to China has reportedly reaped immediate rewards with a deal for Tesla to use mapping data provided by web search company Baidu, a big step in introducing driver assistance technology in the world’s largest car market.

Musk made an unannounced visit to China over the weekend. The billionaire posted a picture of his meeting with the Chinese premier, Li Qiang, on X, the social network he took over in 2022.

Continue reading...

Average cost of UK car insurance rises by one-third in a year, analysis finds

Posted on by

ABI reports annual jump of £157 in first quarter of 2024 but says 1% increase on previous quarter indicates rises are easing

The average price paid for comprehensive motor insurance in the UK was about a third (33%) or £157 higher in the first quarter of this year than a year earlier, according to figures from the Association of British Insurers (ABI).

Based on analysis of policies sold, the typical price paid in the first quarter of 2024 was £635, marking a 1% increase on the previous quarter, the ABI said.

Continue reading...

Thames Water collapse could trigger Truss-style borrowing crisis, Whitehall officials fear

Posted on by

Exclusive: Concerns over effect on UK’s finances lead officials to believe utility should be renationalised before general election

Senior Whitehall officials fear Thames Water’s financial collapse could trigger a rise in government borrowing costs not seen since the chaos of the Liz Truss mini-budget, the Guardian can reveal.

Such is their concern about the impact on wider borrowing costs for the UK, even beyond utilities and infrastructure, that they believe Thames should be renationalised before the general election.

Continue reading...

BHP’s pursuit of Anglo American has a major obstacle: South Africa

Posted on by

The De Beers owner is a longstanding jewel in the African' state’s economic crown – it would be a ‘big blow’ to see it sold off

The world’s largest mining company has a problem. Australia’s BHP has set out its intention to snap up the rival miner Anglo American in a multibillion-pound deal that would reshape the global industry. Its proposed £31bn takeover plan has already been rebuffed as a lowball offer that undervalues the company. But Anglo’s deep roots in South Africa could be a far more sensitive issue to address.

Africa’s most advanced economy was built on mining. For more than 150 years since the first discovery of diamonds, gold and coal, the industry has remained South Africa’s economic lifeblood. Today it is the world’s fifth largest producer of coal and diamonds and the 10th largest producer of gold.

Continue reading...