Category Archives: Business

Labor push for vote on help-to-buy bill delayed in Senate – as it happened

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White House marks three years since signing of Aukus agreement

Happy three-year anniversary of the signing of Aukus, to those who observe.

Three years ago, President Biden and our Australian and United Kingdom partners committed to Aukus, an enhanced security partnership that promotes a free and open Indo-Pacific that is secure and stable.

As this partnership has grown, it has strengthened the security of our allies in the region as well as our own security here at home. Over the past three years, our countries have made significant strides in supporting Australia’s acquisition of a conventionally armed, nuclear-powered submarine capability.

That is bad news for Australian solar homes.

To create space for inflexible nuclear power plants ramming energy into the grid, millions of household solar systems will be the first casualty.

Solar power is already being switched off in South Australia when it makes so much free power available that it exceeds electricity demand.

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Traffic to be banned from London’s Oxford Street under Sadiq Khan plan

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Mayor to be given power to overrule Westminster council, which blocked previous plan amid concerns over rerouting buses

Traffic will be banned from London’s Oxford Street under plans announced by the mayor, Sadiq Khan, using new powers from Labour to push through long-thwarted pedestrianisation of the capital’s famous shopping strip.

Khan said urgent action was needed so that the mile-long street could “once again become the leading retail destination in the world.”

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Sky Betting & Gaming reprimanded for unlawfully sharing users’ personal data

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ICO says online gambling company passed customers’ information to advertising technology companies

The online gambling company Sky Betting & Gaming has been reprimanded by the data regulator for unlawfully sharing customers’ information with advertising companies that could then target those users with personalised marketing.

The Information Commissioner’s Office (ICO) said it had investigated Bonne Terre Ltd, trading as Sky Betting & Gaming, after a complaint by the campaign group Clean Up Gambling.

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Ex-NatWest CEO who left after Nigel Farage row to advise law firm

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Alison Rose appointed as diversity and inclusion adviser at leading firm Mishcon de Reya

Alison Rose, the former chief executive of NatWest, has taken a job as an adviser to one of the UK’s top law firms as she tries to return to the City after a career-damaging row with Nigel Farage last year.

Rose is joining Mishcon de Reya as a diversity and inclusion adviser, a role that will involve mentoring some of the firm’s partners. She will also work closely with the equity, diversity and inclusion committee at the firm, which is known for having represented Diana, Princess of Wales during her divorce.

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Rupert Murdoch attends court hearing in battle over future of media empire

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Murdoch, 93, in Nevada for case that could determine which family members will control businesses after his death

A probate court in Nevada is set to begin reviewing evidence behind closed doors in a case that could determine who will control Rupert Murdoch’s media empire after his death.

Murdoch, 93, arrived at court on Monday for the hearing. Last year, he moved to change the terms of his irrevocable family trust in an effort to ensure that his eldest son, Lachlan, remains in charge of his cadre of newspapers and television networks, including the Wall Street Journal and Fox News Channel, according to reporting by the New York Times based on a sealed court document.

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Revealed: criminals and unlicensed agents operating across Australia’s real estate sector

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Revelations come amid federal government push for additional scrutiny of sector through counter-terror financing and money-laundering laws

Convicted criminals and unlicensed agents are operating in the real estate sector across multiple states, a Guardian Australia investigation has found.

In New South Wales, the Guardian has established that two individuals convicted of dishonesty offences have been allowed back into the industry well within the usual 10-year prohibition, and that gaps in the law mean convicted money launderers are able to find their way back into the industry.

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Green Day presale tickets for Australia tour as high as $500 under Ticketmaster’s dynamic pricing

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Regulator says dynamic pricing is legal if consumers are not misled as fans considering giving the Saviors tour a miss

Tickets to Green Day’s Saviors tour in Australia were as high as $500 in the initial presale after Ticketmaster revealed dynamic pricing was in effect for the rock band’s upcoming shows.

The first presale for the March 2025 leg of the tour went on sale Monday for three locations – the Gold Coast, Sydney and Melbourne. The cheapest general admission tickets were capped at $200 plus booking fee, but those wanting seated tickets were informed at purchase point that the price was as high as $500 due to what Ticketmaster calls “In Demand” pricing.

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Planned Shein IPO needs closer scrutiny, says former Labour minister

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Trade committee head Liam Byrne wants checks on firm’s possible supply chain links to forced labour

A former minister has called on the government to closely scrutinise Shein for possible links to forced working as the China-founded fast-fashion retailer prepares for a stock market listing in London.

Liam Byrne, the Labour MP who heads parliament’s business and trade committee, said the UK should introduce new legislation to increase scrutiny of supply chains that may include products made in the Xinjiang region of north-western China.

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‘There’s something in the air’: UK airport expansion gears up for takeoff

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Lobbyists are increasingly confident about expansion plans as concerns for the economy start to deepen

The younger, tormented minister mulling his position before the Labour government granted Heathrow’s third runway in 2009 might have been greatly relieved to know that, 15 years later, not a shovel would have touched the ground.

But now, returning to power with a revamped energy and climate brief, Ed Miliband again finds himself in a cabinet which, many in aviation hope, may usher in bigger airports and more flights – as well as enough CO2 emissions to outweigh any new solar farms.

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What’s causing China’s economic downturn and what does it mean for Australia?

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Oversupply and deflation are spooking markets, while falling demand for coal and iron ore threatens to further hamper anaemic Australian growth

“Because most Chinese are satisfied with the economy’s performance, Beijing would probably resist major adjustments in savings, consumption and investment incentives that did not serve its industrial policy goals.

“Only the prospect of closed foreign markets or deep recession at home, neither of which Beijing believes is likely in the near term, would change this view.”

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Icelandic fishing giant Samherji sues art student for spoofing corporate website

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High court told ‘culture-jammed’ apology for high-profile corruption scandal ‘did not qualify as parody’

Iceland’s biggest fishing company is suing an art student at London’s high court for spoofing its website and issuing a fake public apology over a high profile corruption scandal.

The costly lawsuit, which will be heard this month, is feared by the student’s supporters to have a potentially chilling effect on artists engaging critically with large corporations, while also raising questions about the UK’s status as the go-to litigation jurisdiction for powerful businesses.

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Meta to push on with plan to use UK Facebook and Instagram posts to train AI

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Move to use shared posts follows information commissioner concerns and sets collision course with EU over privacy

Mark Zuckberg’s Meta is to go ahead with controversial plans to use millions of UK Facebook and Instagram posts to train its artificial intelligence (AI) technology, in a practice that is effectively outlawed under EU privacy laws.

Meta said it had “engaged positively” with the Information Commissioner’s Office (ICO) over the plan, after it paused similar proposals in June in the UK and EU. The pause came after the ICO warned tech firms to respect the privacy of users when building generative AI.

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Delayed air travellers may get compensation under rules Albanese government proposes

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Catherine King says new charter may force airlines to compensate you if they bump you off a flight, delay your flight, or cancel it

Airlines in Australia may yet be forced to compensate passengers for bumping them to other services because of overbooking, delaying or cancelling their flights, under the charter of aviation rights proposed by the Albanese government.

The transport minister, Catherine King, told Guardian Australia that, despite the aviation white paper not endorsing a standalone compensation provision, the government aims to have legally enforceable penalties included in the charter. It also wants powers granted to the proposed new aviation ombudsman to deal with how airlines treat passengers.

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‘We need to hear about hope’: unions greet Keir Starmer TUC speech with mixed emotions

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Enthusiasm for public sector pay awards tempered by concern over winter fuel payment cuts and job losses

“We’re hearing an awful lot about tough times: it’s like being in a Dickens novel. What comes after the tough times? We need to hear about hope.”

Onay Kasab, the national lead officer for the Unite trade union, was addressing a leftwing fringe meeting, but similar sentiments reverberated through the bars and coffee shops at this week’s TUC congress in Brighton.

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Boeing workers walk off the job after vote to strike and rejecting pay deal

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US Pacific north-west region workers voted 96% in favor of the strike and walked off the job early on Friday

Tens of thousands of Boeing workers walked off the job early on Friday after voting overwhelmingly to strike for higher pay, halting production of the planemaker’s strongest-selling jet as it wrestles with chronic output delays and mounting debt.

The company said on Friday it was ready to talk and “get back to the table to reach a new agreement” as striking workers picketed.

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IMF plan to visit Russia to assess economy prompts dismay across Europe

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Protest letter sent to fund’s head over move to send staff to Moscow for first review since invasion of Ukraine

The International Monetary Fund (IMF) will send staff to Moscow next week to review the Russian economy for the first time since the invasion of Ukraine, in a move that has prompted anger and dismay across European capitals.

Officials of the Washington-based organisation will travel to the Russian capital and meet “stakeholders” before publishing an assessment of the economy and providing recommendations about how the Kremlin might improve its economic handling and tackle issues such as the climate crisis.

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‘Democrats are losing’: a battle on EVs could cost Kamala Harris votes in Michigan

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Trump promises to end electric vehicle mandate. Harris has been silent, risking swing state autoworkers’ critical votes

As the critical swing state of Michigan hangs in the balance, experts warn that Democrats’ poor messaging over the shift to electric vehicles could lose them the state in November’s election.

“I will end the electric vehicle mandate on day one, thereby saving the US auto industry from complete obliteration, which is happening right now,” Donald Trump told the Republican national convention in a speech this summer that would reach tens of millions of people.

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China gives PwC record £47m fine and six-month ban over Evergrande

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Accountancy firm accused of issuing false audits says it has sacked six partners and five other staff have left

The China arm of the accountancy firm PwC has been banned for six months and fined a record 441m yuan (£47m) over its audit of the collapsed property developer Evergrande, according to Chinese authorities.

Beijing’s ministry of finance imposed a six-month business suspension on PwC Zhong Tian, the accounting firm’s main division in mainland China, along with a 116m yuan penalty.

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Keir Starmer ready to face down ‘nanny state’ jibes in radical public health drive

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Junk food ad ban, age limit on energy drinks and expanded water fluoridation among measures planned to help NHS

Plans to ban junk food ads and to stop children buying high-caffeine energy drinks are among radical public health measures being drawn up by ministers to prevent illness and so ease pressure on the NHS.

The government made clear it would face down “predictable cries of ‘nanny state’” because Keir Starmer was convinced this was the way to fix the service.

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Diane Abbott says Tories paying ‘lip service’ to fighting racism after further Hester donation

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Party took £5m after Rishi Sunak condemned businessman for saying Abbott made you ‘want to hate all black women’

Diane Abbott has said the Conservatives are “only paying lip service to fighting racism” after it emerged their controversial donor Frank Hester had given a further £5m to the party before the election.

The donation, made by his company the Phoenix Partnership, brings his total funding to the Tories to more than £20m, cementing his status as their single biggest donor.

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