Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Bank’s former chief executive reportedly walked out of room during act at party last year
A leading investment bank has apologised for “any offence caused” after it was reported that its black former chief executive left his chairman’s birthday party when a black performer dressed as a janitor danced on stage.
The New York Times reported that Tidjane Thiam, who ran Credit Suisse between 2015 and February this year, walked out of the room during the act at Urs Rohner’s 6oth birthday celebration.
Appeal court sets aside ruling that gold could not be released to Nicolás Maduro-backing bank
A battle for the control of more than $1.8bn worth of Venezuelan gold stored at the Bank of England has swung in favour of the government of Nicolás Maduro after an appeals court in London overturned an earlier high court ruling concerning whom the UK recognised as Venezuela’s president.
The court of appeal granted an appeal by the Banco Central de Venezuela (BCV) and set aside July’s high court judgment, which had found that Britain’s recognition of the opposition leader Juan Guaidó as the “constitutional interim president of Venezuela” meant the gold could not be released for the Maduro-backing bank.
Revelation contradicts official assurance that no UK-made equipment was used to repress peaceful demonstrations
US law enforcement officers used British anti-riot gear to strike protesters during their controversial policing of Black Lives Matter demonstrations, despite assurances from the Conservative government that no UK-made equipment was used to repress peaceful protest.
Officers deployed at demonstrations in Washington DC hit protesters and in one case a journalist using shields made by the British-based firm DMS Plastics. Video and photographs suggest, and a lawsuit alleges, that officers charged at protesters, rather than acting in self-defence. US forces deny the allegations.
Three of today’s nine new cases have been linked to known outbreaks or are considered complex cases. These are linked to the Butcher’s Club Chadstone Shopping Centre outbreak, with single cases linked to Corrigan Produce Farms Clyde North and Coles Williamstown. The other six cases remain under investigation.
Anglicare is calling on the federal government to increase jobseeker and fund social housing projects in tomorrow’s budget announcements.
“A permanent boost to jobseeker will add billions of dollars to the economy and at least 145,000 full-time jobs. The benefits would go straight to the areas that need them most,” Anglicare Australia executive director Kasy Chambers said in a statement.
Social housing will offer relief for the tens of thousands of people who are homeless in Australia. It also boosts GDP, and creates jobs in construction for the regions that need it most.
With the economy reeling in the wake of the coronavirus, we need to invest in projects that are shovel-ready. There is no time to waste. Social housing projects can get off the ground quickly – and they bring long-term benefits.
The fact is that one-off payments and tax cuts won’t help people out of poverty. And they won’t boost the economy. A jobseeker increase and social housing will do both.
Zambia could become the first country to default on its debts amid the fallout from Covid-19, but it won’t be the last
Zambia is running out of money to pay its debts. It has asked bondholders for breathing space so that it can put a restructuring plan in place. The copper-rich African state is at risk of being the first country to default on its debts since the start of the coronavirus pandemic.
Not the last though. Zambia is the canary in the coalmine, a harbinger of a full-blown crisis that has been lurking in the background from the moment the seriousness of Covid-19 became apparent.
Reductions in government support as the original furlough scheme ends point towards a brutal round of redundancies
The UK economy continued its rapid rebound from the depths of the coronavirus lockdown in August, the latest official data on growth is expected to show on Friday, but many economists are braced for a grim winter as job losses mount.
The Bank of England’s chief economist, Andy Haldane, predicted last week that GDP would be “only around 3-4% below its pre-Covid level” by the end of the third quarter, covering July to September.
With the airline industry at a standstill and farmers desperate for workers, aviation staff are finding opportunities in a new field
The cabin of a harvester in the middle of a vast wheat field might be a strange place to find an airline pilot at work, but for Andrew King it all makes sense.
King worked as a passenger jet pilot for Hainan Airlines but has been on leave without pay since the pandemic hit in February.
Case due before court seeks to strike down landmark Affordable Care Act – which could leave millions of Americans adrift
This month, Congress is expected to begin confirmation hearings for Donald Trump’s nominee for the supreme court, Amy Coney Barrett. If confirmed, she could be the decisive vote in a case being heard days after the election, which seeks to strike down the landmark Affordable Care Act – a move that could leave millions of Americans without healthcare in the middle of a pandemic.
The government will announce tax and deregulation measures on Friday, as declining Covid-19 cases offer hope for economic revival. Follow all today’s news
Labor’s Julie Collins has responded to the aged care royal commission’s Covid response report:
I am sure the public will have very little confidence that this government, or the minister, is up to implementing these recommendations by 1 December because what we have seen is that when it came to the royal commission’s interim report, very unusual of a royal commission to actually issue an interim report, the very first recommendation – the first one was to fix the home care wait list.
Here we are 12 months later, [and there are] still [more than] 100,000 older Australians waiting for home care.
Linda Burney was on ABC Queensland radio talking about the people the jobseeker changes were going to affect the most.
It’s your mum, your grandmother, or their friends.
The reduction in the jobseeker allowance is going to disproportionately affect older women, particularly women who are over 60.
And it’s very hard for those women to find a job because you face age discrimination. All those – all those issues, of course, that we are familiar with older people trying to get a job.
People without a specific severe impairment who want to access disability payment are being forced to first do 1.5 years of job search
Nearly 14,000 people have now been forced to do 18 months of job search and survive on $40-a-day jobseeker benefits before they were finally granted the disability pension.
Under Gillard government-era changes aimed at reducing the welfare spend and increasing workforce participation, people without a specific severe impairment who want to access the disability payment must complete up to 18 months of job search within three years.
Bank’s future remains uncertain as it finds itself under pressure from Beijing and Washington
HSBC has been a fixture of the Hong Kong economy for more than a century. However, its origins as a financial bridge between Asia and the west have placed it in the centre of a modern day geopolitical storm. Facing pressure to choose sides as Hong Kong is convulsed by the new security law imposed by Beijing and Donald Trump pursues a trade war with China, HSBC is in danger of finding itself without friends in either direction.
Headquartered in London, but dependent on Hong Kong and China for profits, HSBC has been affected by tensions between Washington and Beijing – and shareholder concern over its controversial acceptance of an authoritarian crackdown in its key market.
Political unrest hit tourism and retail, and coronavirus response has delayed recovery
Hong Kong’s economy was already in recession when the pandemic hit in January. Six months of running battles between pro-democracy campaigners and local government had deterred many of the visitors who fuel the lucrative tourism industry, while the threat of violence on the streets and closures of shops had sent retail sales down nearly a quarter on the previous year.
With much of Asia shut down by coronavirus restrictions during the winter months, there was little expectation of a recovery until the spring, when the level of infections fell to almost zero across mainland China and most of the rest of the region, and the measures could be eased.
Company blames limited attendance at reopened parks
Disney posted $4.72bn loss in second quarter
Walt Disney announced it was laying off 28,000 employees from its theme park business on Tuesday, the latest company to announce huge jobs cuts in the wake of the coronavirus pandemic.
The entertainment company blamed limited attendance at the theme parks it has reopened and the continuing closure of others for the “difficult decision”.
The World Bank has announced plans for a $12bn (£9.3bn) initiative that will allow poor countries to purchase Covid-19 vaccines to treat up to 2 billion people as soon as effective drugs become available.
In an attempt to ensure that low-income countries are not frozen out by wealthy nations, the organisation is asking its key rich-nation shareholders to back a scheme that will disburse cash over the next 12 to 18 months.
It’s a myth that Republicans handle the economy better – US recessions almost always occur under the GOP
Joe Biden has consistently held a wide polling lead over US President Donald Trump ahead of November’s election. But, despite Trump’s botched response to the Covid-19 pandemic – a failure that has left the economy far weaker than it otherwise would have been – he has maintained a marginal edge on the question of which candidate would be better for the US economy. Thanks to Trump, a country with just 4% of the world’s population now accounts for more than 20% of total Covid-19 deaths – an utterly shameful outcome, given America’s advanced (albeit expensive) healthcare system.
The presumption that Republicans are better than Democrats at economic stewardship is a longstanding myth that must be debunked. In our 1997 book, Political Cycles and the Macroeconomy, the late (and great) Alberto Alesina and I showed that Democratic administrations tend to preside over faster growth, lower unemployment and stronger stock markets than Republican presidents do.
Move halts slump in share price after money-laundering claims and US-China spat
HSBC has received a much-needed vote of confidence from its largest investor after China’s Ping An Asset Management increased its stake in the embattled bank.
The move comes after the lender was caught in the middle of rising diplomatic tensions between Washington and Beijing and as it attracts fresh criticism for its money-laundering compliance procedures.
Release of CO2 from UKCS rigs was much greater than Norwegian and Danish regions
Britain’s oil and gas rigs are the most polluting in the North Sea oil basin, according to industry data, with enough unwanted gas burned off every year to heat a million homes.
Oil rigs in the UK continental shelf (UKCS) released 13.1m tonnes of carbon dioxide emissions into the atmosphere last year, according to data from Rystad Energy, significantly more than those from the Norwegian and Danish regions of the North Sea, which produced 10.4m tonnes and 1.4m tonnes of CO2 respectively in the same year.
Almost half of British companies have warned that their Brexit preparations have been hit by the pandemic, as business leaders demanded a last-minute compromise to reach a trade deal and avert chaos at the border.
A Key West team is expected to enforce a new mandate allowing people to go maskless outdoors if they are 6ft apart – an impossible task among partygoers
Key West code enforcement officer Paul Navarro was halfway through his shift and beginning to see signs of trouble. The crowds on lower Duval Street swelled just after 9pm, and social distancing quickly became impossible on the sidewalks.
Navarro is the last line of defense against the high-risk behaviors which spread Covid-19 and is one of the principal enforcers of the Florida city’s mask mandate – an effort to protect public health and the local economy. Until 16 September part of that balancing act had included a strict mask mandate, now that rule has been loosened.