Australia’s food production and security will be “at risk” if the New South Wales (NSW) and Victorian state governments do not withdraw from the contentious Murray Darling Basin Plan, one community representative has warned. Jan Beer, a representative from the Upper Murray River Catchment Association in Victoria, told The Epoch Times that the implications of…
Calls for States to Boycott the Federal Government’s Water Rights Intervention
November 21, 2022
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AustraliaBusiness & Marketseconomic policiesEnvironmentInternationalmurray darlingNew South WalesSciencevictoriaWaterwater rightsWorld
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New CEO of Bankrupt FTX Being Paid $1,300 an Hour, Court Filings Show
November 21, 2022
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bankruptcyBusiness & MarketsCompaniescrypto collapseCrypto Exchange FTXcrypto fraudcryptocurrencyeconomic policiesMarketsUS
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John Ray, who has been hired as the new CEO of bankrupt crypto exchange FTX, is being paid a hefty sum of money for his services, according to legal documents filed by the company. Ray, who once led the infamous energy firm Enron through its bankruptcy proceedings, replaced FTX’s former CEO Sam Bankman-Fried. Ray is…
Business Leader Urges UK PM Sunak to Increase Economic Immigration
The UK’s Prime Minister Rishi Sunak on Monday faced pressure to increase immigration to plug labour shortages in the UK. Attending the Confederation of British Industry (CBI) annual conference in Birmingham, Sunak was urged to agree on a “new deal” on immigration, allowing more skilled workers to enter the UK on fixed-term visas. The prime minister…
UK Government Denies Claims of Plans for Closer Ties With EU
The British government has said reports that it is seeking a “Swiss-style” relationship with the EU are “categorically untrue.” It follows a report in The Sunday Times that claimed Prime Minister Rishi Sunak was considering building a closer economic relationship with the bloc in a bid to avoid trade barriers, a suggestion which attracted fierce criticism…
Activists Looking to Gain More Power in Company Elections
November 21, 2022
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activist investorsBusiness & MarketsCompanieseconomic policiesESG StandardsPoliticsShareholder Votethe U.S. Securities and Exchange Commission (SEC)US
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New election rules imposed by U.S. regulators have many firms worried about shareholder activists becoming members of company boards. The Securities and Exchange Commission (SEC) recently finalized revisions to corporate director election rules by mandating that companies must provide shareholders voting through proxy a “universal ballot.” According to outgoing rules, shareholders voting via proxy (like…
S&P 500, Nasdaq Open Lower as China COVID-19 Cases Tick Higher
The S&P 500 and the Nasdaq opened lower on Monday as COVID-19 flare-ups in China reignited concerns about slowing growth, while a jump in Disney’s shares following Bob Iger’s surprise comeback as chief executive supported the Dow. The Dow Jones Industrial Average rose 14.6 points, or 0.04 percent, at the open to 33760.3. The S&P…
Dollar Jumps as China COVID-19 Worries Spur Safe-Haven Buying
LONDON/SINGAPORE—The U.S. dollar rallied against major currencies on Monday, as rising COVID-19 cases in China led to new restrictions there and weighed on global investor sentiment. China is battling numerous coronavirus flare ups. Two deaths were reported in Beijing on Sunday, and the city’s most populous district urged residents to stay at home on Monday….
Oil Prices Ease to Near 2-month Lows on China Demand Fears, Dollar Strength
November 21, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slipped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices. Brent crude futures for January had slipped 51 cents, or 0.6 percent, to $87.11 a barrel by 1205 GMT….
World Stocks Tumble on Chinese COVID-19 Outbreaks
November 21, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks and oil prices fell on Monday as fresh COVID-19 restrictions in China exacerbated worries about the global economic outlook. The safe-haven dollar rallied, while the U.S. Treasury yield curve remained deeply inverted in a sign that investors remain alert to global recession risks. Coronavirus outbreaks across China are a setback to hopes for…
Labor Government’s New Workplace Laws Will Grow Red Tape Burden: Small Businesses
November 20, 2022
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AustraliaBusiness & MarketsCompaniesCOSBOACouncil of Small Business Organisations Australiaeconomic policiesindustrial relation billInternationalmulti-employer bargainingWorld
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Small business representatives are opposing a new “multi-employer bargaining” law that could allow workers to force business owners into potentially industry-wide negotiations over pay and conditions. In a submission to a Senate inquiry into the Secure Jobs Better Pay Bill (the Bill), the Council of Small Business Organisations Australia (COSBOA) said it did not support…
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