-
War inside Commonwealth Bank as staff seethe over ‘top performers’ LinkedIn boasts from lavish awards trip while 800 jobs disappear
Commonwealth Bank of Australia is facing internal discontent after it flew its top-performing staff and their families to a luxury resort in Cairns, Far North Queensland, for a multi-day conference and lavish awards night, just five weeks before announcing a fresh round of job cuts. The event, held on the last weekend of May, was…
-
VW faces protests in Germany over proposed job cuts and factory closures
Volkswagen’s proposal to cut up to 100,000 jobs and close factories was formally put to its supervisory board on Thursday, prompting protests at 18 of the carmaker’s German sites, including its Wolfsburg headquarters. Organised by the IG Metall union, the demonstrations targeted plants across the group’s brands and marked a major test not only for…
-
Aussies issued grim warning about house prices as top economist forecasts ‘biggest correction’ the country has ever seen
A leading economist has warned that Australia may be heading towards the “biggest correction in house prices we’ve ever seen”. Christopher Joye, chief investment officer at Coolabah Capital, told a podcast that Sydney and Melbourne would be hit hardest, describing the situation as the “mother of all house price corrections”. The warning matters because the…
-
England World Cup bank holiday plan as Reform faces money-laundering probe
Banking staff have reported Reform UK’s senior figures to the NCA over money-laundering concerns, while Starmer plans a bank holiday if England win the World Cup, amid injury worries and refereeing rows.
-
Joey Graceffa Signs With HeartRock Partners
Digital creator and multi-hyphenate entertainer Joey Graceffa has signed with HeartRock Partners for management representation. The move matters as a marker of the growing creator economy, with an established management firm backing a YouTube pioneer to expand his ventures across entertainment, publishing and consumer brands. Graceffa rose to prominence through the YouTube series Escape the…
-
Treasury yet to do due diligence on finding extra money for UK’s Nato spend
The Treasury has not yet carried out any analysis of the trade-offs required for the UK to meet its Nato pledge to spend 3.5% of GDP on defence by 2035, its chief secretary Lucy Rigby has admitted. Under questioning from a joint session of the Treasury and defence committees, Rigby repeatedly insisted that funding decisions…
-
IMF upgrades UK growth forecast as fears over impact of Iran war diminish
The International Monetary Fund has raised its growth forecast for the UK economy, now projecting gross domestic product to expand by 1% in 2026, up 0.2 percentage points from its April estimate. The upgrade, part of the IMF’s July World Economic Outlook update, reflects hopes that the economic fallout from the Iran war may prove…
-
German car industry warns of job collapse unless ‘bold decisions’ made to address Chinese threat
Germany’s motor industry has warned that employment across Europe’s car sector could collapse unless workers, society and politicians accept that “bold decisions” are needed to counter competition from China and other rivals. The warning, from the German Association of the Automotive Industry (VDA), coincides with Volkswagen’s preparations to formally propose up to 100,000 job losses,…
-
Women and university graduates in Australia most at risk of losing jobs to AI, report finds
A first-of-its-kind Australian government report has found that women and university graduates are the workers most exposed to having their jobs displaced by artificial intelligence, while those in manual and vocationally trained roles are least at risk. The report, drawing on data from Jobs and Skills Australia, warns that occupations such as telemarketers, accountants, advertising…
-
Oil prices rise after fresh US strikes on Iran and return of sanctions on Tehran – business live
Oil prices rose after fresh US military strikes on Iran and the reimposition of sanctions on Tehran, heightening concerns over supply from the strategically important Gulf region. The renewed tensions rattled global markets, with almost all major Asian stock exchanges falling and Samsung Electronics shares sliding for a second consecutive day. Alongside the geopolitical developments,…