British retailer says it plans to explore strategic options for the future of its stores
WH Smith is exploring potential options for its high street business, including a sale, the British retailer said.
More details soon …
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Guinness boom prompts owner Diageo to consider sale or spin-off
Stout, which has become fashionable with gen Z drinkers, likely to be valued at more than £8bn
The drinks company Diageo is considering cashing in on booming demand for pints of Guinness by selling or listing the famous beer brand on the stock market, according to reports.
Selling or spinning off Guinness are among the options being considered by the FTSE 100 company as part of a plan to revive its fortunes, according to Bloomberg which first reported the story.
Continue reading...Second man charged over attempted arson of Sydney synagogue – as it happened
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- Albanese accuses Dutton of ‘not having the guts’ to face media in first major election year speech
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The anti-fracking group Lock the Gate Alliance has launched a legal challenge to a Northern Territory government decision to approve another gas exploration project in the Beetaloo basin.
The case in the territory’s civil and administrative tribunal is challenging the merits of the government’s approval of the environment management plan for Empire Energy’s “Larrimah” exploration project.
Our robust regulation of the onshore petroleum industry is informed by the best available science. As the project is before the NT Civil and Administrative Tribunal, it would be premature to make any further comment on the matter.
For too long, vice-chancellors and senior executives have escaped any real accountability for some of the terrible decisions that have damaged our public universities. An inquiry would be a golden opportunity to get to the bottom of what’s allowing the wage theft epidemic, rampant casualisation and a raft of other serious problems to flourish in our sector.
This is the path to lasting reform that will ensure staff can deliver the world-class teaching and research our students and community deserve.
Continue reading...UK government contacts potential administrators for Thames Water
Teneo, Interpath and EY among those reportedly approached for the role if company falls into bankruptcy
The UK government has reportedly approached multiple restructuring advisers for the role of special administrator for Thames Water if the troubled utility falls into bankruptcy.
Teneo, Interpath and EY are among the companies contacted by the government as it prepares contingency plans should Britain’s largest water company be forced into nationalisation, the Financial Times reported, citing people familiar with the process.
Continue reading...Almost 40 firms banned from installing UK insulation amid botched jobs outcry
Schemes backed by previous government to improve energy efficiency have left homeowners unable to sell
Almost 40 building companies have been blocked by the government from installing insulation amid a growing outcry over the profusion of botched jobs across the UK.
Ministers also announced that any homes found to have received botched insulation would have the issues put right by the installer responsible at no extra cost to the homeowner.
Continue reading...Woolworths selling downsized’ Brut deodorant for more than double unit cost of old product
Consumer advocates call for more transparency around ‘shrinkflation’ as supermarkets continue to defend against price-gouging allegations
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Australia’s biggest supermarket chain, Woolworths, is selling a significantly smaller stick of Brut deodorant for more than double the unit price of the old product, in an extreme example of “shrinkflation” that leaves shoppers paying more for common household products.
While not unlawful, the pricing decision rubs against heightened public criticism of strategies employed by supermarkets, which have consistently defended themselves against price gouging allegations during a cost-of-living crisis.
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Continue reading...Australia news live: Bruce Lehrmann seeks judge-only trial on rape charges; off-duty police officer in hospital after Sydney attack
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Asked about the future of the weekly pro-Palestinian protests across Australia, Malarndirri McCarthy said as long as they are respectful and peaceful, “they are part of our democratic way”.
It’s interesting, isn’t it? I mean, we are a democracy. Whatever the rally or protest is, we enable that. We allow that so long as it’s peaceful and respectful.
Police across every jurisdiction in the country know they have to be prepared. Rally organisers, whoever they may be, also know they need to consult to be able to have access to those streets. Come on, let’s be mindful that these rallies, so long as they are held in a respectful manner, in a peaceful manner, they are part of our democratic way.
I think when I look at the polls, Karl – and I think I’ve talked to you about this over the years, you know, when we went into the 2019 election – every poll said we were going to win. The reality is, you have to work every single day right up – and the only poll that does really count, and I believe that especially after that loss, is the one on election day.
Continue reading...Unpaid internships ‘locking out’ young working-class people from careers
UK charity calls for positions of four weeks or longer to be banned to help close social mobility gap
Young people from working-class or disadvantaged backgrounds are being “locked out” of careers by unpaid or low-paid internships that benefit middle-class graduates, according to a social mobility charity.
Research by the Sutton Trust found that middle-class graduates made more use of internships as stepping stones into sectors such as finance or IT, even in cases where the internships paid nothing or below the minimum wage as required by legislation.
Continue reading...Trump threatens 10% tariff on China and considers EU levy
Yuan and Chinese stocks fall despite suggestion of lower tariff than president mentioned during campaign
Donald Trump has threatened to impose a 10% tariff on Chinese-made goods arriving in the US from as early as 1 February, adding that he was also considering levies on imports from the EU.
Ordering an investigation into US-China trade on his second day in office, Trump said any penalties on Chinese goods would be “based on the fact that they’re sending fentanyl to Mexico and Canada”.
Continue reading...UK borrowing jumps unexpectedly, adding to pressure on Rachel Reeves
Increase to £17.8bn is well above City forecasts and is highest December figure for four years
UK government borrowing jumped unexpectedly to £17.8bn last month, piling pressure on Rachel Reeves to plan budget cuts before a spending review in the summer.
The figure was about a quarter higher than the City had forecast and was up by £10.1bn more than in the same month a year earlier, making it the highest December borrowing for four years.
Continue reading...Australian independent publishing stalwart Text acquired by global giant Penguin Random House
Local publishing house says it will ‘retain creative control’ and no redundancies are planned for Melbourne office
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The world’s largest general book publisher has acquired one of Australia’s leading independent publishers, the Text Publishing Company.
Penguin Random House announced the acquisition on Wednesday, with the chief executive of its Australian operations, Julie Burland, saying the move consolidated the publishing house’s longstanding relationship, where its Australian arm distributes and sells all of Text’s titles in the Australian and New Zealand markets.
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Continue reading...Housing completions fall behind accord target – as it happened
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- ‘Paid actors’ could be behind some antisemitic attacks, Albanese says
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Watt defends government response to antisemitism as ‘very strong’
Asked if the federal government has been going enough to combat antisemitism, Murray Watt said it had responded “very strongly here”.
Unfortunately, there are some people in the community who are engaging is disgusting behaviour and the AFP and state police have demonstrated they will be caught and go to jail, which is where they belong.
I [will] leave it to the AFP to confirm some of the details about this, but I think this demonstrates exactly how far our police authorities are going to try to crack down on the shocking behaviour …
[The number of arrests made] sends a really clear message from the whole community that there is no tolerance that this kind of hate, and you will be caught if you do these kind of disgusting attacks.
Continue reading...Wall Street shrugs off Trump after he vows Mexico and Canada tariffs
S&P 500 and Nasdaq Composite largely unmoved as it opened for trading for first time after inauguration
Financial markets largely shrugged after Donald Trump outlined plans to impose punitive tariffs on Mexico and Canada as soon as next month while signing scores of executive orders on his first day in office.
The US president told reporters in the White House Oval Office he was thinking about introducing 25% US tariffs on imports from Mexico and Canada as soon as 1 February.
Continue reading...Australia news live: second child dies after Tasmania house fire; mental health ward closures begin in NSW after mass resignation of psychiatrists
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- Anthony Albanese convenes national cabinet on antisemitism after Sydney childcare centre set alight
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The foreign affairs minister, Penny Wong, says it was a “privilege and honour” to be the first Australian foreign minister to “be invited and to attend an inauguration on behalf of our country”.
She spoke with the Today show from Washington DC, where she attended Donald Trump’s inauguration.
My message here in Washington to those I meet is to point out the reality of the economic relationship between Australia and the United States, that there is a surplus in America’s favour. There has been for decades. In fact, it’s about two to one. And of those exports from Australia that come here, about half of them go into the US production.
As we know, the Wall Street Journal is obviously reporting, now [Trump is] going to review the trade situation and then look at what sort of tariff changes need to be made.
We need to make sure that our foreign affairs ministry, our trade minister and our ambassador are deeply engaged in that review process to make sure our national interest is upheld.
Continue reading...UK ‘second most attractive country for investment’, survey finds
The survey of chief executives, published ahead of the World Economic Forum, follows an upgraded growth forecast from the IMF
The UK is the second most attractive country for investment behind the US, signalling a climb up the rankings, according to an annual survey of global business leaders by the consultancy PwC.
Published at the start of the World Economic Forum (WEF) in the Swiss ski resort of Davos, the survey of almost 5,000 chief executives from 109 countries puts the UK in second place, ahead of China, Germany and India.
Continue reading...Work-life balance more important than pay for employees worldwide
Annual survey finds workers have ‘multifaceted expectations’ after changes cause by Covid pandemic
Work-life balance has soared in importance for workers around the world, becoming their top motivator and pushing pay into second place, according to an annual international survey of thousands of employees.
It is the first time that finding or keeping a job that fits in with the rest of their lives has outranked salary in the 22-year history of the international recruitment company Randstad’s annual review of the world of work, highlighting the corporate revolution caused by the coronavirus pandemic.
Continue reading...Hospitality firms ‘to incur £1bn costs from employer NICs on 774,000 more workers’
Industry body says businesses and jobs at risk unless Rachel Reeves’s tax changes delayed or altered
The hospitality industry will incur an extra £1bn of costs for 774,000 of its workers who will be newly eligible for employer national insurance contributions from April, endangering jobs and businesses, a leading industry body has claimed.
UKHospitality, which represents thousands of restaurants, hotels, pubs, cafes and nightclubs, is calling on the government to delay or alter changes to the tax announced in Rachel Reeves’s October’s budget in order to protect jobs.
Continue reading...Bitcoin hits new record high, dollar dips ahead of Trump inauguration – business live
Bitcoin rises by 4% past $109,000, reversing earlier losses; Donald Trump meme coin price tanks after wife Melania also launches token
The UK chancellor, Rachel Reeves, will travel to the World Economic Forum’s annual meeting in Davos this week in the hope of convincing some of the world’s largest companies to invest, with allies saying she will use spending cuts rather than further tax increases to meet her own fiscal rules.
At the same time, the Treasury is considering a push to cut the benefits bill, in a move that is causing nervousness among Labour MPs.
Continue reading...Shares in Daily Mirror owner Reach rise as it says it will beat profit forecasts
Publisher was helped by strong digital advertising performance towards end of year, say analysts
Shares in the owner of the Daily Mirror rose more than a quarter after the publisher said it expects to beat annual profit expectations, after a strong end to the year and the benefit of deep cost-cutting in recent years.
Reach, which owns national papers including the Mirror and Express and scores of local titles including the Manchester Evening News and the Liverpool Echo, said the profit upgrade was because of a strong final quarter last year.
Continue reading...KPMG under investigation over audit of gambling company Entain
FRC confirms inquiry into accounting firm’s 2022 audit of Ladbrokes, Coral and Sportingbet owner
The accounting firm KPMG is under investigation by the sector’s UK regulator over its audit of the 2022 accounts of the gambling company Entain.
The Financial Reporting Council (FRC) said its enforcement division would be examining the conduct of the “big four” accounting firm, without saying what the investigation related to.
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