Economy

Powderfinger bassist and live music venue owner John ‘JC’ Collins appointed QLD nightlife economy commissioner

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Powderfinger bassist and live music venue owner John ‘JC’ Collins appointed QLD nightlife economy commissioner

One of Powderfinger’s best releases was the chronically underrated 1998 album Internationalist. Now the Queensland government will be hoping the legendary Brisbane band’s bassist, John “JC” Collins, is himself something of an internationalist, having tasked him with turning the state’s nightlife into a jewel in its tourism crown. Collins, awarded a Medal of the Order … Read more

What to know about celebrating Oktoberfest in Munich

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What to know about celebrating Oktoberfest in Munich

Oktoberfest is a worldwide phenomenon, a Bavarian beer festival celebrated in countries around the globe. But many say nowhere is it more fun than in its original home of Munich. The festival attracts some six million celebrants every year, according to a festival website operated by Munich’s Department of Labor and Economics. As a non-Bavarian … Read more

Boeing sweetens labor proposal in ‘best and final’ offer

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Boeing sweetens labor proposal in ‘best and final’ offer

Striking Boeing workers hold rally at the Boeing Portland Facility on September 19, 2024, in Portland, Oregon.  Jordan Gale | AFP | Getty Images Boeing on Monday sweetened a contract offer and said it was its “best and final” proposal for its more than 30,000 machinists as their strike, which has halted most of the … Read more

Minneapolis Fed President Kashkari sees slower pace of rate cuts ahead

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Minneapolis Fed President Kashkari sees slower pace of rate cuts ahead

Minneapolis Federal Reserve President Neel Kashkari said Monday that he expects policymakers to dial down the pace of interest rate cuts after last week’s half percentage point reduction. “I think after 50 basis points, we’re still in a net tight position,” Kashkari said in a CNBC “Squawk Box” interview. “So I was comfortable taking a … Read more

Southwest Airlines tells staff ‘difficult decisions’ ahead

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Southwest Airlines tells staff ‘difficult decisions’ ahead

A Southwest Airlines plane takes off from Hollywood Burbank Airport on July 25, 2024 in Burbank, California.  Mario Tama | Getty Images Southwest Airlines has warned employees that it will have to make “difficult decisions” ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at … Read more

Britain’s finance minister calls for spending discipline but no return to austerity

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Britain’s finance minister calls for spending discipline but no return to austerity

Britain’s Chancellor of the Exchequer Rachel Reeves speaks on the second day of the annual Labour Party conference in Liverpool, north-west England, on September 23, 2024.  Paul Ellis | Afp | Getty Images Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but said she would … Read more

5 things to know before the stock market opens Monday

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5 things to know before the stock market opens Monday

Here are the most important news items that investors need to start their trading day: 1. Rate relief Investors cheered the Federal Reserve’s huge policy move last week. The question now is what the central bank will do next. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all rose more than 1% for … Read more

Young people are doom spending. Here’s what it is and how to stop it

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Young people are doom spending. Here’s what it is and how to stop it

Westend61 | Westend61 | Getty Images Some young people are splashing out on luxuries like travel and designer clothes instead of saving, in a trend that’s being characterized as “doom spending” on social media. Doom spending is when a person mindlessly shops to self-soothe because they feel pessimistic about the economy and their future, according … Read more

Japan is pushing a 4-day working week — but its workaholic culture makes it a hard sell

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Japan is pushing a 4-day working week — but its workaholic culture makes it a hard sell

An office worker studying electronic diagrams on a computer at control-panel maker in Japan. Bloomberg | Bloomberg | Getty Images Japan has ramped up its push for companies to adopt a four-day workweek, but those efforts face steep challenges in a country famous for its workaholic culture. The Japanese government recently initiated a “work style … Read more

Eye-watering amount couples must earn to afford a Sydney home

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Eye-watering amount couples must earn to afford a Sydney home

Couples must now both earn six-figure salaries to afford a home in the majority of Sydney areas, new data from Canstar has revealed. The average Australian salary is just over $100,000, according to data from the Australian Bureau of Statistics (ABS). Sydney’s eastern suburbs have a median house price of almost $4,000,000, while the north … Read more