Category Archives: Business

Australia news live: Alan Joyce secures final $3.8m bonus two years after leaving Qantas; neo-Nazi Thomas Sewell refused bail

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Former chief executive left the airline after a series of corporate decisions sparked a reputational crisis. Follow today’s news live

Coalition of the willing meeting a ‘positive sign’ for Ukraine, former ambassador says

The former Australian ambassador to Russia, Peter Tesch, has appeared on ABC News Breakfast after Anthony Albanese joined a virtual meeting with world leaders signed up to the coalition of the willing for Ukraine on Thursday night.

The issue is that we are still no closer to a credible and durable peace settlement, because Moscow keeps walking both sides of the street, and that is provoking a degree of frustration. But in the absence of serious, additional pressure upon Moscow, it’s difficult to see a near-term solution here - notwithstanding Ukraine’s clear willingness to engage seriously in discussions.

And importantly, although the details are vague … President Trump at least remains engaged in that dialogue and that’s very important.

Our case for a 35% pay increase over three years will begin in the NSW Industrial Relations Commission later this month. As part of this case, which is one of the biggest industrial cases this state has seen, we will present evidence around the gendered undervaluation of nurses and midwives’ work and the work value changes our professions have seen over the past 16 years.

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US justice department opens criminal inquiry into Fed governor Lisa Cook

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Officials to investigate claims of mortgage fraud against Cook, who has refused to accept firing by Donald Trump

The US justice department has initiated a criminal investigation into mortgage fraud claims against Federal Reserve governor Lisa Cook as a lawsuit she filed against Donald Trump over her firing makes its way through court.

Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal, who first reported the investigation, which has since been confirmed by multiple news publications.

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Trump asks US supreme court to overturn trade tariffs ruling

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Move follows federal appeals court decision that sweeping ‘liberation day’ levies on imports had overstepped presidential powers

Donald Trump has asked the US supreme court to overturn a lower court decision that most of his sweeping trade tariffs were illegal.

The US president filed a petition late on Wednesday to ask for a review of last week’s federal appeals court ruling in Washington DC, which centred on his “liberation day” border taxes introduced on 2 April, which imposed levies of between 10% and 50% on most US imports, sending shock waves through global trade and markets.

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Scotland bans arms companies that supply IDF from receiving financial aid

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Devolved government says contractors seeking support must prove products will not be used by Israeli military

The Scottish government has banned arms companies which supply the IDF from getting grants and investment support, and will freeze support for trade with Israel.

John Swinney, the first minister, said on Wednesday any defence contractors who wanted financial help in Scotland would have to prove their products would not be used by the Israel Defense Forces.

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Resale ‘subterfuge’: Viagogo sent fan his tickets along with a stranger’s passport

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Experiences of booking for big London gigs underscore the opaque practices of some online platforms

When Danny bought tickets to see Deftones in Crystal Palace Park he was not expecting to be initiated into an apparent subterfuge.

Yet shortly before the south London gig, Viagogo, the resale platform that sold him the tickets, sent him a scanned copy of a passport ID page belonging to a Dutch man he had never met.

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Shein opens investigation after shirt listing displayed image resembling Luigi Mangione

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Company removed image on website that appeared to show Mangione in a white shirt reportedly priced just under $10

The clothing company Shein said it has opened an internal investigation after its website briefly displayed a shirt listing featuring an image resembling Luigi Mangione, the man accused of killing Brian Thompson, the CEO of UnitedHealthcare, in New York last year.

The image appeared to show Mangione in a short-sleeved white shirt, and the top was reportedly priced at just under $10.

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Four Chinese carmakers enter Australian top 10 for first time, while Tesla sales slump

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BYD overtakes Mitsubishi after nearly quadrupling sales in past year, according to official figures, as GWM, MG and Chery also surge

Australians bought more than 20,000 Chinese-made vehicles in August, putting four Chinese brands into the top 10 for the first time, while Tesla sales have slumped by more than a third.

BYD came in sixth for the month, overtaking Mitsubishi, after its sales nearly quadrupled compared with August 2024, while GWM, MG and Chery each outsold Isuzu Ute in the month to round out the top 10.

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‘No place in children’s hands’: under-16s in England to be banned from buying energy drinks

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Government to ban sale of energy drinks with more than 150mg of caffeine, citing concerns over obesity and lack of concentration

Under-16s in England will be banned from buying energy drinks such as Red Bull and Monster because they fuel obesity, cause sleep problems and leave them unable to concentrate.

Health experts, teaching unions and dentists welcomed the ban and said it would boost children and young people’s health. It fulfils a pledge Labour included in its manifesto for last year’s general election.

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Mining magnate Andrew Forrest’s Minderoo charity makes undisclosed donation to the Australia Institute

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Exclusive: The progressive thinktank, which has championed a ‘real zero’ emissions policy, says it protects privacy of donors to avoid them being targeted

Andrew Forrest’s charity has made an undisclosed donation to the Australia Institute, raising transparency concerns about the funding of influential advocacy groups.

The donation to the progressive thinktank, which has been confirmed by several sources familiar with the deal but not authorised to comment, highlights differing disclosure standards across the research and advocacy sector.

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Pressure rises on Reeves as government borrowing costs hit 27-year high

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Chancellor will face more limited fiscal headroom at budget after yield on 30-year bond increases to 5.723%

Britain’s long-term borrowing costs have hit their highest level in 27 years, intensifying the pressure on the chancellor, Rachel Reeves, before the autumn budget.

The yield, or interest rate, on 30-year UK government debt hit 5.723% on Tuesday. That is its highest level since 1998, indicating that it will cost the UK more to borrow from the markets, above the previous 27-year high of 5.649% set in April.

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China drilling for oil and gas inside Taiwan’s exclusive economic zone

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Exclusive: Experts say the move could be part of Beijing’s ‘greyzone’ grab for disputed territory

China is drilling for oil and gas inside Taiwan’s exclusive economic zone (EEZ), a move that analysts believe is likely part of Beijing’s unilateral grab for disputed territory that could also aid a future invasion of Taiwan.

During July and August at least 12 oil and gas vessels and permanent structures were detected inside Taiwan’s EEZ – including one within 50km of the restricted-waters border of the Taiwan-controlled Pratas Islands – as well as several steel supports for fixed offshore drilling platforms, called jackets. Their presence inside Taiwan’s EEZ have not been previously reported.

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Whisky maker Suntory’s CEO resigns amid investigation into suspected illegal supplements

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Takeshi Niinami bought supplements in the belief that they were legal, says Jim Beam and Laphroaig owner

Takeshi Niinami, one of Japan’s best-known business leaders, has resigned as chief executive of the drinks company Suntory after police raided his home as part of an investigation into suspected illegal supplements.

His resignation from the owner of the Jim Beam whisky brand has sent shockwaves through Japan’s corporate world, with Suntory executives attempting to reassure investors and consumers at a hastily arranged news conference.

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Nestlé fires CEO after investigation into ‘undisclosed romantic relationship’

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Company, which owns brands including KitKat, replaces Laurent Freixe with Philipp Navratil

Nestlé has dismissed its chief executive, Laurent Freixe, after an investigation into an “undisclosed romantic relationship” with a subordinate that was found to have breached its code of business conduct.

The Swiss-headquartered multinational, which owns consumer goods brands including KitKat chocolate, Häagen-Dazs ice-cream and Nespresso coffee capsules, named Philipp Navratil as his replacement.

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Australia could be a ‘dumping ground’ for goods made for us with forced labour, anti-slavery tsar warns

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Exclusive: Chris Evans says ‘blind spots’ in modern slavery laws means few prosecutions occur and some companies are ‘taking the mickey’ in their approach to reporting

Australia’s modern slavery laws are among the weakest in the developed world and the country risks becoming a “dumping ground” for goods made with forced labour, Australia’s first anti-slavery commissioner has said.

In a wide-ranging interview with Guardian Australia, the commissioner, Chris Evans – a former Labor senator and minister – said there were “blind spots” in Australia’s efforts that risked the country becoming a global laggard.

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Tap-in, tap-out rail ticket trial to streamline fares using GPS tracking

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East Midlands passengers to test digital tickets that will automatically charge best fares at end of day

Train passengers in the East Midlands are to test technology that will let them tap in and out for journeys and be charged the best fare for their trip at the end of the day.

Trials of digital rail tickets based on GPS tracking will begin on Monday as part of the government’s plan to improve the rail network’s complex fare system.

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Companies face prosecution risk as new fraud law comes into force

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CPS hails ‘major step forward’ in crime prevention with potential for companies to receive unlimited fines

Companies could be prosecuted and face unlimited fines if they fail to prevent fraud that their firm profits from under a corporate offence coming into force on Monday.

Under the new “failure to prevent fraud” law, large companies can be held criminally liable where an “employee, agent, subsidiary or other ‘associated person’” commits a fraud intending to benefit the organisation.

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Pauline Hanson joins crowds in Canberra as anti-immigration protests heat up across country – as it happened

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Asked about the planned anti-immigration protests across Australia today, Julian Leeser says he’s concerned about some of the anti-Indian and antisemitic sentiment being expressed. But he also adds that there are people who will be attending these protests with “goodwill”:

There are people there of goodwill who want to change policies in relation to this country. But I would say to them be careful of the company you keep. I’ve seen some of the material for that particular protest and I’m really concerned about the anti-Indian sentiment that is being expressed and some of the antisemitic undertones of some of those protests.

We are working through this legislation through our processes but I will say this: This cohort of people have had ample opportunities to put their case. They have exhausted all appeal avenues and the question now is whether they can be removed to another country.

This is a legitimate arrangement. The only reason people can remain in Australia – and this is very well established under the migration law of this country – is if they have an Australian citizen or on a valid visa.

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What the Cracker Barrel backlash shows about Maga’s influence on US culture

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What likely started as a routine refresh spiraled into a political storm that went all the way to the US president

It was supposed to be a simple rebrand – or so Cracker Barrel thought.

Earlier this month, the 56-year-old southern restaurant chain known for its country-store charm and nostalgic Americana aesthetic unveiled a new look: a minimalist logo, more modern interiors and a handful of new menu items.

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Proposals for commercial planes to operate with one pilot shelved after critical EU report

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Regulator Easa concludes there is not enough evidence it is as safe as flying with two pilots as currently required

Proposals for commercial aeroplanes to operate with just one pilot in the cockpit have been put on ice after a report for the European regulator suggested it would make flying more dangerous.

A three-year research project into “extended minimum crew operations” commissioned by the EU Aviation Safety Agency (Easa) found that despite advances in technology there was not sufficient evidence that flying with a single pilot could be as safe as with the two currently required.

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Court orders seizure of counterfeit underwear seller’s £90m assets

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Ferrari and property owned by Arif Patel, tax fraudster who has been on the run since 2011, will be sold at auction

A self-styled clothing tycoon who sold counterfeit socks and pants while operating an extensive fraud ring will have all his UK assets seized after the Crown Prosecution Service won a court order to confiscate up to £90m worth of property and luxury cars.

Arif Patel, 57, from Preston, Lancashire, who has been on the run since 2011, will have homes and business premises he owned taken from him after a confiscation order granted by a judge at Chester crown court on Thursday.

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