BUSINESS

The Australian spirits industry is urging the government to halt planned excise tax increases, citing concerns over affordability for consumers and the impact on producers during the ongoing cost-of-living crisis.

Funds in the accumulation phase are taxed at 15% on investment earnings, while those in the retirement phase are tax-free.

British energy giant Shell on Thursday announced a 17-percent drop in annual net profit owing to weaker oil and gas prices as well as asset write-offs.

Analysts predict that XRP could reach between AU$16.07 ($10) and AU$24.10 ($15) in 2025, depending on how quickly regulatory issues are resolved and how Ripple capitalizes on its expanding global payment network.

Tesla is set to report earnings Wednesday for the first time since President Donald Trump -- a close ally of CEO Elon Musk -- returned to the White House.

After three interest rate cuts in a row, the US Federal Reserve is expected to take a breather on Wednesday and signal it will remain on pause until the data changes, despite pressure to cut from President Donald Trump.

According to the Australian Bureau of Statistics (ABS) report released on Wednesday, the annual trimmed mean measure of consumer prices, which excludes volatile items, rose by 3.2% in the three months to December, just below the forecasted 3.3%.

As the clock ticks down on TikTok's 75-day reprieve from divesting from its Chinese owners or being banned in the United States, several contenders are in the running.

Starting February, AMP Bank will issue numberless debit cards linked to its mobile app, providing enhanced security and fraud protection for small businesses in Australia, in partnership with Mastercard.

A quick scroll through TikTok reveals a growing number of videos from younger workers who have quit what they label "toxic" jobs. These videos often highlight feelings of dissatisfaction, while some document the exact moments leading up to their resignation.

ATO recently revealed that 178 Australians under 30 reported superannuation balances exceeding AU$2 million in the 2021-2022 financial year, despite taxable incomes starting at just AU$18,200.

Shares of AI-focused companies like Appen, a software firm, and Brainchip, an AI chipmaker, saw significant drops. Appen fell by 3.3%, while Brainchip dropped by 10.3%.

Universal Music Group, the world's largest music company, and streaming behemoth Spotify on Sunday announced a multi-year direct deal that will affect both recording and publishing royalty rates.

The Russian subsidiary of French supermarket chain Auchan quashed rumours of an impending sale on Monday, saying it continued to operate for the benefit of the local population.

"If the trimmed mean inflation rate cools in line with our expectations it will be very hard for the RBA not to cut rates at its February meeting," AMP chief economist Shane Oliver said.

To give more travelers the chance to travel in premium economy, Emirates intends to raise this percentage to 50% of all flights by the end of March, the airline said.

The communication minister acknowledged that customers who were unable to access full fiber network speeds were diverting toward Musk's Starlink, which offered speeds of 20-100 Mbps monthly for AU$139/month + AU$599 hardware competing with NBN's fiber speeds (50 Mbps) at AU$105/month.

The rapid success of DeepSeek has particularly piqued interest due to two main factors: cost-effectiveness and the ability to operate on lower-capability chips, which contrasts with the high resource demands of many leading AI systems.

Global stock markets rose Friday after a record day on Wall Street in response to US President Donald Trump's tax-cut pledge and his more friendly comments with regard to China.

Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for its larger rival Mediobanca, a potential 13.3 billion euro ($13.9 billion) deal that could help reshape the country's banking sector.

Supermarket giant Coles axed its unpopular Special Burger Sauce Hot Cross Buns, replacing it with a sweeter, limited-edition Hot Cross Bun, drawing inspiration from the iconic Wagon Wheels biscuit.

Meta-owned Instagram has been wooing creators from TikTok as the China-based video-snippet sharing app's future remains uncertain in the United States.

Global stock markets mostly rose Thursday following a tech-fuelled rally on Wall Street spurred by US president Donald Trump's massive AI-investment announcement.

The closure, which will result in the loss of 650 jobs, marks the latest chapter in the company's ongoing financial struggles.

The new changes also come with an increase in point requirements for reward seat redemptions and higher fees. From August 2025, frequent flyer members will need to use more points to book both domestic and international reward flights, as well as upgrades.

Although the sun may be setting on the era of free trade, crypto supporters say a new dawn is rising for digital currencies thanks to US President Donald Trump.

At Yongfeng Group's aluminium formwork facility, advanced recycling processes are designed to optimize efficiency, ensuring the material retains its quality and performance after every cycle.

European and Asian stock markets diverged Tuesday and the dollar rallied as Donald Trump wasted no time in starting his second term as US president with a raft of announcements affecting the global economy.

Sales of electric cars slid last year in Europe in an otherwise stable market, data from carmakers showed Tuesday.