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The Latest Breaking News from Business

Corporate Australia has reported big profits as inflation has soared. Is it profiteering?

Soaring inflation has delivered major profits to big businesses this reporting season, but with consumers spending more, could corporate Australia be accused of profiteering? This is what the experts say.

ABC News

Inside Air France's lavish business class pods as travel expert puts them to the test

French flag carrier Air France has added swanky new cabins on its Boeing 777-200ER planes, which have been tested out by the Points Guys on a flight from Paris to New York

Daily Mirror

Coles, Woolworths profit surge raises questions over inflation profiteering

The big supermarkets raked in combined profits of more than $1.5 billion over the last six months of 2022. But were they profiteering from inflation or just passing on rising costs?

ABC News

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Gas producers accused of bullying and price gouging, despite federal government intervention to cap prices

Two months after the federal government introduced price controls on gas, manufacturers are still struggling to get a fair deal — and the costs are being passed onto consumers.

ABC News

Corporate Australia is opening its books — and the numbers probably won't be too bad, for now

It's time for the twice-a-year look inside corporate Australia, and analysts say this profit-reporting season is likely to signal a turning point for the economy as a whole.

ABC News

Top Tory minister deletes tweet after editing Boris Johnson out of photo

BUSINESS Secretary Grant Shapps has quietly deleted a social media post after it was pointed out that former prime minister Boris Johnson had been…

The National (Scotland)

Black Friday, Cyber Monday sales set to top $6b, as consumers shrug off soaring inflation

Australians are expected to add to last year's $6 billion spend in the Black Friday and Cyber Monday sales, even with inflation at a 30-year high.

ABC News

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‘We are everything that scares curtain twitchers’: the bands resurrecting the spirit of Oi!

The hardcore movement grew from working-class angst in the late-70s, but got tainted by racist aggro. Now a new wave of bands are reviving its cathartic anger – without the far-right associations

The Guardian - UK

China's demand for Australian iron ore stalls, sending the price for our biggest earner spiralling

WA's iron ore miners are ramping up production with new mines, but with the commodity price falling, is it worth it?

ABC News

Income tax changes ruled out this budget but push for new review into revenue gathers steam

The Treasurer may have ruled out making changes to the stage 3 income tax cuts in his first budget, but there is a growing push for more comprehensive tax reform from experts and the parliamentary crossbench.

ABC News

The Aussie dollar is dropping against the US currency, but it’s not all bad news

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

ABC News

Reserve Bank set for another double-sized interest rate rise as borrowers brace for pain

The average mortgage borrower will be paying $760 a month more than they were just five months ago, if the Reserve Bank hikes interest rates as expected today, with existing borrowers slugged harder than newer customers.

ABC News

Skilled migrant workers speak up about sponsorship visa exploitation and workplace sexual harassment

The Australian government is lifting the permanent migration cap to fill labour shortages. But many skilled migrants who have experienced exploitation in the workplace are warning it is a recipe for disaster without better protections.

ABC News

Jacob Rees-Mogg tipped to be next business secretary if Liz Truss wins Tory leadership

The multi-millionaire is expected to be put in charge of tackling the ongoing energy crisis - and has already been in talks with firms

The National (Scotland)

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ABC News

About 50kg of nickel goes into each Tesla battery but the world isn't producing enough to keep up with demand

Nickel is a critical metal in batteries, and the world's miners are struggling to keep up with booming demand as consumers switch to renewables.

Evening Standard

Ex-Bank of England chief economist Andy Haldane warns inflation here ‘for years’ as business calls for emergency budget

The British Chamber of Commerce want an immediate VAT cut and a reversal of recent National Insurance rises in an emergency snap budget

ABC News

Recession is necessary and 'ordinary people will suffer the most', warns investment guru

World-renowned contrarian investor Marc Faber says the failure of central banks to start raising interest rates sooner will lead to recession and an implosion in asset prices.

The Independent UK

Boris Becker ‘used business account as own piggy bank to pay personal expenses’

The six-time Grand Slam tennis champion denies the charges.

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ABC News

Economy bounces back from Delta lockdowns with strong growth at the end of 2021

Australia's economy just posted its equal-best quarter of economic growth in nearly 46 years as it bounced back from the east-coast Delta lockdowns. But not everyone is cheering, with rising costs and supply shortages still hitting many businesses and consumers.

The Independent UK

Labour: NI rise ‘will make a bad situation for British businesses even worse’

Shadow business minister Seema Malhotra raised concerns over the level of inflation as well as ‘spiralling’ energy costs.

Daily Mirror

Steel campaigners demand action for £2bn industry after latest government talks

The first meeting of the Steel Council for five months took place as sector bosses and union leaders urged Business Secretary Kwasi Kwarteng to help the industry with energy costs and cutting emissions

Daily Mirror

Moment police kick barrister's family off BA flight in nanny business class row

Charles Banner QC claims the "pettiness and vindictiveness" of British Airways staff sparked the incident after his family were all booted off after their nanny was downgraded to economy

ABC News

Two years into the COVID-19 crisis, why are some businesses thriving while others still struggle?

The Omicron COVID wave is hitting some Australian business owners who were hoping for a fresh start in 2022. But many are beating the pandemic odds, and thriving.

Evening Standard

‘Get back to work’ says Business Secretary as Plan B ends

Business Secretary Kwasi Kwarteng took on union bosses on Friday as he called for people to “get back to work” as Plan B ends.

TechRadar

Hostinger vs SiteGround: which is the more reliable web hosting provider?

We've put two of the top European web hosting providers, Hostinger and SiteGround, back to back to see which is better.

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