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US share markets flop flat on China trade worries
via abc.net.auShares on Wall Street gains made earlier in the session after a report that the US and China are in dispute over some measures to end their trade war. -
Most people want higher taxes on rich to support poor – OECD
via theguardian.com‘Deeply troubling’ survey of 21 countries finds 60% believe they are not getting ‘fair share’A majority of people living in developed countries want their government to increase taxes on the rich in order to help the poorest in society, according to a major global study.In all 21 countries included in the OECD study, more than half of those polled said they were in favour when asked: “Should the government tax the rich more than they currently do in order to support -
Queensland fines revenue on track to nudge half-a-billion dollars, figures reveal
via abc.net.auThe rollout of new speed cameras and upgraded red light cameras are bringing in tens of millions of dollars in additional revenue to the Queensland Government, with the figure expected to surpass half-a-billion dollars by 2020-21. -
'We are really ramping it up now': Tax man targets property investors, Airbnb
via abc.net.auThe Australian Taxation Office will undertake 4,500 audits of taxpayers it considers are "high risk" because they overclaim or don't declare income relating to rental properties. -
ATO ramps up its focus on rental properties
via abc.net.auThe Australian Taxation Office will undertake 4,500 audits of taxpayers it considers are "high risk" because they overclaim or don't declare income relating to rental properties. -
This muscle-flaunting, sports-car driving broker has had his accounts frozen. Here’s why
via abc.net.auA muscle-flaunting Melburnian who boasts about his sports car collection and playing poker with underworld figure Mick Gatto is at the centre of a company holding millions of dollars in clients' money that can't be accessed. -
HS2 would widen UK north-south divide and should be axed, says report
via theguardian.comThinktank says London would benefit most and money should go to less wealthy areas insteadThe government’s planned HS2 high-speed rail project will make the UK even more divided and should be scrapped in favour of boosting services in the less well-off parts of the country, a left-leaning thinktank has said.A report from the New Economics Foundation found that 40% of the benefits of the controversial project would go to London and that the £56bn budget would be better spent on upgrad -
Heritage blighted by a decade of austerity | Letters
via theguardian.comFunding cuts are forcing impossible choices on our local authorities, say Dr Ellen McAdam and Dr Frank ComptonYour coverage of the staff restructuring by Leicester museums in response to funding cuts (‘Engagement team’ replaces curators at Leicester museums, 14 March) is hardly fair. A decade of austerity has forced even local authorities that, like Leicester, value their cultural institutions highly to make impossible choices. Social care or arts? Children’s services or museum -
Sainsbury’s to publish price cut data if Asda merger goes ahead
via theguardian.comSupermarkets ‘happy to be held to account’ on reducing prices by £1bnSainsbury’s has promised to publish an annual breakdown of the £1bn-worth of price cuts it has promised shoppers if it merges with Asda, as it scrambles to reverse the competition watchdog’s opposition to the £7bn deal.Many analysts think the tie-up between Sainsbury’s and Asda, the UK’s second and third largest supermarket chains respectively, is doomed after the Competitio -
UK jobless rate hits 44-year low; markets keep climbing – as it happened
via theguardian.comRolling coverage of the latest economic and financial news, including the latest UK unemployment reportLatest: Jobless rate falls to 3.9% in November-JanuaryUnemployment down by 35,000, employment up 222,000Pay up by 3.4%, pushing real wages higherInactivity down, but more people off work sickFirms may be hiring rather than investing 2.47pm GMT That’s probably all for today (although I might pop back with the market close later...)Reminder, here’s our news story on the jobs data: Rel -
UK unemployment falls to 44-year low despite Brexit fears
via theguardian.comEmployers’ hiring reduces jobless rate to 3.9%, the lowest since the start of 1975UK unemployment has dropped to the lowest level in more than 44 years despite mounting fears over Brexit, as employers across the country ramped up hiring at the fastest rate in more than three years.The Office for National Statistics said Britain’s jobless rate fell to a fresh low of 3.9% in the three months to January, down from 4% a month earlier, the lowest point since the start of 1975. Related: UK -
Office Outlet is latest retailer to go into administration
via theguardian.comFormer Staples chain with 90 stores hit by falling stationery sales and high street woesThe stationery chain Office Outlet has collapsed into administration, putting 1,200 UK jobs at risk.The struggling retailer, formerly known as Staples, has 90 stores, predominantly in out-of-town retail parks. Its collapse comes less than a year after its management team resorted to a company voluntary arrangement (CVA) to jettison unwanted stores and slash its rent bill. Related: 'It could be terrible for us -
Coal export fears resurface as restrictions hit more Chinese ports and Australian prices cop a 'belting'
via abc.net.auIs it a targeted policy to restrict imports, or "business as usual"? Analysts are divided about China's treatment of Australian thermal coal. -
Australian coal prices take a 'belting' in China, despite official denials it is being targeted
via abc.net.auIs it a targeted policy to restrict imports, or "business as usual"? Analysts are divided about China's treatment of Australian thermal coal. -
Westpac expects to slash 900 jobs as it quits financial advice
via abc.net.auWestpac flags redundancies as it offloads its loss-making advice business in the wake of the banking royal commission, with the market shifting towards independent financial advice. -
CityLink toll hike costs revealed under report on West Gate Tunnel deal
via abc.net.auBy 2045, Melbourne drivers will pay nearly $100 extra a week to regularly use CityLink under the Victorian Government's plan for toll increases on the roadway, analysis shows. -
House prices falling rapidly as downturn spreads beyond Sydney and Melbourne
via abc.net.auSydney and Melbourne are recording one of their fastest property price slumps on record, with official figures showing the downturn is spreading to other cities around the nation. -
Australia's $133b property price slide rapidly becoming the worst on record
via abc.net.auSydney and Melbourne are recording one of their fastest property price slumps on record, with official figures showing the downturn is spreading to other cities around the nation. -
NSW Premier shows off driverless trains of Sydney Metro Northwest
via abc.net.auGladys Berejiklian and NSW Transport Minister Andrew Constance ride her Government's flagship infrastructure project, the Sydney Metro Northwest rail, which boasts driverless trains and is due to open in May. -
'We'll give him nothing': Ardern lashes Facebook over shooter's live stream
via abc.net.auNew Zealand Prime Minister Jacinda Ardern takes Facebook to task for failing to remove graphic vision of the Christchurch shootings from its platforms, while vowing to "give the gunman nothing, not even his name". -
Ardern lashes Facebook over failing to stop spread of Christchurch shooter's live stream
via abc.net.auNew Zealand Prime Minister Jacinda Ardern takes Facebook to task for failing to remove graphic vision of the Christchurch shootings from its platforms, while vowing to "give the gunman nothing, not even his name". -
Port River dolphin calf population decimated
via abc.net.auEvery dolphin calf born in Adelaide's Port River this summer breeding season has died, sparking concerns that the whole population could disappear. -
Music festival organiser says new regulations are 'an invasion of civil liberties'
via abc.net.auNSW music festival operators have criticised the new strict licencing scheme, saying it stifles the music industry and that festival-goers should be free to take their own risks. -
What are the world's most expensive cities to live in?
via abc.net.auIt is the first time three cities have shared the unenviable title, according to The Economist Intelligence Unit's (EIU) 2019 Worldwide Cost of Living Survey.
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