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Daily Archives: December 21, 2020

IKEA unpacks fourth year of losses despite sales boom

This marks the retailer’s fourth year of loss-making operations in Australia. The company operates 10 of its big-box stores across the country, along with an online offer. Loading In a statement, a spokesperson for IKEA Australia said the company had seen “significant sales growth” due to shoppers looking to spruce …

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As it happened: ASX drops 1.1% to three-week low

That is all from us today. Thank you for your time and your comments. We will be back in the morning. Good night. It has become clear that Australia’s Santa rally came early this year, as speculated by investors back in November. The S&P/ASX 200 shed 70.3 points to close …

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Government should shut down underperforming funds immediately: Superannuation lobby

“No matter how lousy they are these dud funds will be able to go on creaming $10 billion in profit each year from members, without having to answer how it is in the members’ best financial interests,” Mr Dean said. The lobby group’s submission to the government’s consultation period says …

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Former firefighters blow whistle on ‘disaster waiting to happen’ at Chevron’s Gorgon project

Normal text sizeLarger text sizeVery large text size Chevron’s Barrow Island emergency services team was once considered one of the best private firefighting forces in the country. Collectively, the tight-knit group of former military and professional firefighters from around the country had hundreds of years of experience under their belts …

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Infrastructure binge to dig country out of recession

The Berejiklian government, which spent $21 billion on infrastructure last year, will increase that to $22.6 billion in 2020-21 before pushing it up further to $22.9 billion in 2021-22. The federal government will double its infrastructure spend this year to $10.9 billion before increasing to $13.7 billion by 2023-24 while …

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Tougher regulation to target ‘smorgasbord’ class action industry

“Participants in class actions are the biggest losers in this deal,” the report said. “Courts and civil remedies were not established as novel investment vehicles to deliver handsome profits to innovative financiers or creative lawyers.” The inquiry heard evidence supportive of class actions as a legitimate tool to “facilitate access …

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One dose of Trump may not be enough to inoculate sickly US

One-termers such as Trump enjoy only marginal political influence. Hoover, Carter and Bush snr, the last three presidents, until Trump, to lose re-election, are the great failures of the modern presidency. None ever ran again. They were replaced by much more historically significant men and movements. So the question is …

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Universities warn foreign interference measures must be ‘carefully calibrated’

In their most wide-ranging comments on the proposed changes so far, the organisation said the risks “must be managed effectively” but argued this required “nuance, care and balance” to ensure it did not cause unnecessary damage to research partnerships. Loading “The Go8 also recognises the risks to our nation’s economic …

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A key task for Andrews’ summer: reflect on lessons from hotel quarantine report

After weeks of hearings and months of deliberation, the COVID-19 hotel quarantine inquiry has finally released its full report. While retired judge Jennifer Coate, who headed the probe, is understanding of how daunting a task it was to stand up the program in just 36 hours, her judgment of the …

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Experts call for NSW to mandate masks, limit public gatherings

“It would be erring on the safe side to extend the stage three restrictions from the northern beaches to Greater Sydney,” Professor Toole said. “Waiting around to see what happens is very risky, because if there is a case, even one, there are probably more.” Professor Toole also questioned why …

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