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☆ Tech's earnings bonanza this week shines spotlight on growing troubles at Tesla, Google
▼ + stars: | 2024-04-22 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

Justin Sullivan | Getty ImagesAs tech's behemoths get set to report earnings this week, they do so facing a mountain of drama. Tesla kicks off tech earnings season after the close of trading on Tuesday, with shares of the electric vehicle maker trading at their lowest since January 2023. When it comes to AI, Meta debuted its assistant — Meta AI — on WhatsApp, Instagram, Facebook and Messenger last week. Loren Elliott | Bloomberg | Getty ImagesOn a busy Thursday for tech earnings, Alphabet is likely to capture the most attention. On Thursday, Alphabet CEO Sundar Pichai announced a consolidation of the company's AI teams, including responsible AI and related research teams, under the Google DeepMind umbrella.

Persons: Sundar Pichai, Justin Sullivan, tech's behemoths, Tesla, Microsoft's, Lip, CNBC's, we've, Brandon Bell, Drew Baglino, Rohan Patel, Musk, John Murphy, Meta, Mark Zuckerberg, Wall, OpenAI's ChatGPT, Joe Biden, Republican Donald Trump, Loren Elliott, Ruth Porat, Thomas Kurian's, livestreamed, Pichai, that's, Satya Nadella, Sam Altman, Altman, OpenAI, chatbot, MSFT Organizations: Inc, Government, Society, Google, Big Tech, Nvidia, BakerAvenue Wealth Management, Tech, Meta, Microsoft, Getty, Elon Musk's EV, Bank of America, Reality Labs, Facebook, Republican, Bloomberg, CNBC, Google Cloud, Union, Apple, Guggenheim Locations: Stanford , California, Austin , Texas, New York, Sunnyvale , California, Sunnyvale, Seattle, San Francisco , California, OpenAI, Mistral, U.S

☆ iPhone sales are plunging. Here’s why
▼ + stars: | 2024-04-15 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

CNN —Apple’s smartphone sales tumbled 10% last quarter, according to market research firm IDC, as sales in China fell sharply. Apple took the crown last year – but only for one quarter, as Samsung took the spot back. Samsung occupied about 20.8% of market share (or 60.1 million shipments) during the quarter, followed by Apple with 17.3% (50.1 million shipments). China remains an important market for Apple as it is the largest market behind the US. “As the overall smartphone market recovers this year, with a strong focus on AI, Samsung is in good position to grow further this year,” she added.

Persons: “, ”, Nabila Popal, “ It’s, ” Popal, Xiaomi, Loren Elliott, Huawei’s, Popal, “ We’re Organizations: CNN, IDC, Apple, Samsung, Android, Galaxy, Huawei Locations: China, San Jose , California, U.S, China . China, United States

☆ Oakland A’s: Las Vegas mayor rebuffs MLB team’s move to town – but then backtracks
▼ + stars: | 2024-02-07 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +3 min

Major League Baseball owners unanimously voted in November to approve the relocation of the A’s out of the Bay Area, where they have played since 1968, to Las Vegas. The team’s lease at Oakland-Alameda County Coliseum ends following the 2024 season, and the franchise is set to start playing baseball in Nevada in 2028 in a new stadium on the Las Vegas Strip at Las Vegas Boulevard and Tropicana Avenue, on the site of the Tropicana hotel. Fans sit behind signs referencing plans for the Oakland Athletics to move to Las Vegas during a game against the Atlanta Braves at RingCentral Coliseum on May 29, 2023. Loren Elliott/Getty ImagesBut when the owners chose the nine-acre Tropicana site, Goodman said: “I thought, ‘This doesn’t make sense. She added: “And then I thought because they really want to stay in Oakland.

Persons: Carolyn Goodman isn’t, “, they’ve, ” Goodman, Goodman, FOS, Loren Elliott, ”, Rob Manfred, John Fisher, 3dOXfFuq3d, Carolyn G Organizations: CNN, Las Vegas, Oakland Athletics, Front Office, Tropicana, Major League Baseball, Oakland, Alameda County, Las, Atlanta Braves, RingCentral Coliseum, MLB, Raiders, Golden Knights, Aces, NFL’s Raiders, Athletics Locations: Sin City, Oakland, Bay, Las Vegas, Nevada, Las, …, “, Vegas

☆ Australia's Greens to investigate supermarket 'price gouging'
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] People walk past a Woolworths supermarket following the easing of restrictions implemented to curb the spread of the coronavirus disease (COVID-19) in Sydney, Australia, June 16, 2020. REUTERS/Loren Elliott Acquire Licensing RightsSYDNEY, Dec 3 (Reuters) - Australia's Greens party said on Sunday it would lead a parliamentary inquiry into "price gouging" by major supermarkets as the country grapples with high costs of living. "It will also assess the rise in essential item prices, the validity of discounts offered, and the inflation of profits during economic hardship," added McKim, accusing supermarkets of "price gouging" during "Australia's cost of living crisis". "Construction costs, energy prices, the cost of logistics and packaging have all risen", the spokesperson said. A Woolworths spokesperson said the company was "working to deliver relief" on grocery bills.

Persons: Loren Elliott, Nick McKim, McKim, Competition Andrew Leigh, Leigh, Sam McKeith, Lincoln Organizations: Woolworths, REUTERS, Rights, Australia's Greens, Greens, Coles, Competition, Labor, Reserve Bank of Australia, Thomson Locations: Sydney, Australia

REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSYDNEY, Nov 30 (Reuters) - Australia faces an increased risk of bushfires during the approaching summer, authorities warned on Thursday, with the El Nino weather pattern expected to generate hotter and drier conditions across large swathes of the country. Three years of incessant rain has increased vegetation, but the intense heatwaves common during Australia's December-February summer can quickly turn this into tinder-dry bushland, fuelling fires. Australia declared an El Nino weather pattern - which usually brings below-average rain and above-average daytime temperatures - was under way in September. The Bureau of Meteorology said it was not unusual to have wet weather during El Nino as it increases but does not guarantee drier conditions. Reporting by Renju Jose and Cordelia Hsu in Sydney; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Loren Elliott, Murray Watt, Simon Bradshaw, Renju Jose, Cordelia Hsu, William Mallard Organizations: New South, New South Wales Rural Fire Service, REUTERS, Rights, El, Emergency, Sydney, National Council for Fire, Emergency Services, Climate Council, Meteorology, El Nino, Thomson Locations: New, New South Wales, Arcadia, Sydney, Australia, Turkey, El Nino, Australia's, El

☆ Australia regulator targets 'carbon neutral' claims in greenwashing crackdown
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Office buildings are seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. ASIC has filed three lawsuits alleging unfounded environmental claims by two pension funds and a personal finance platform, and named so-called greenwashing as one of its priority enforcement areas for 2024. she added.,The regulator would hold investment distribution platforms accountable for the products they sell. So far, the regulator had issued interim orders to stop the distribution of some 80 investment products which it considered inappropriate. "For a number of those stop orders, the issuers of the products did step back, they've corrected ... and they've reissued it," she said.

Persons: Loren Elliott, Sarah Court, they've, Byron Kaye, Ayushman, Subhranshu Sahu, Miral Organizations: Central Business District of, REUTERS, Australian Securities and Investments Commission, Thomson Locations: Central Business District of Sydney, Australia, Melbourne, Sydney

☆ Australia PM says Chinese navy incident that injured diver was 'dangerous'
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Loren Elliott/File photo Acquire Licensing RightsSYDNEY, Nov 20 (Reuters) - Australia's Prime Minister Anthony Albanese said a Chinese warship acted in a dangerous and unprofessional manner during an incident with an Australian navy vessel that injured a military diver, his first comments on the matter which he said had damaged ties. In an interview on Monday with Sky News Australia, Albanese said the incident caused injury to one person and shows the need for "communication guardrails" between militaries. "This was dangerous, it was unsafe and unprofessional from the Chinese warship," he said. A People's Liberation Army Navy destroyer closed towards HMAS Toowoomba, despite the Australian vessel notifying the Chinese warship of a diving operation, and operated its hull-mounted sonar in a manner that posed a safety risk, Marles previously said. The Chinese embassy in Australia did not respond to a request for comment.

Persons: Xi Jinping, Anthony Albanese, Loren Elliott, Richard Marles, Albanese, Xi, we've, Marles, Kirsty Needham, Lincoln Organizations: Australia's, Economic Cooperation, REUTERS, Rights, HMAS, Defence, Sky News Australia, APEC, Liberation Army Navy, Thomson Locations: Asia, San Francisco , California, U.S, Australian, HMAS Toowoomba, San Francisco, China, Australia

☆ Exclusive: IMF chief says Biden-Xi engagement an important signal for world to cooperate
▼ + stars: | 2023-11-18 | by ( David Lawder | ) www.reuters.com time to read: +4 min

The Biden-Xi meeting is "important at a time when geo-economic fragmentation has indeed deepened with negative consequences for the prospects for accelerating growth," Georgieva said. U.S.-China engagement also will be an important factor on negotiations over World Trade Organization reform, including restoration of its dispute settlement system. "We are already seeing the impact of antisemitism and Islamophobia, raising their ugly heads all over the world. IMF SHAREHOLDING REFORMSU.S. Treasury Secretary Janet Yellen said during meetings last week with her Chinese counterpart that a key outcome of U.S.-China economic engagement was Beijing's support for a 50% increase in IMF quota-based resources, without an immediate rise in shareholding for China. Georgieva said it was important for the IMF to start quickly on revamping its shareholding formula to boost the representation of fast-growing developing economies: "The world needs an IMF that is financially strong, and that is also legitimate."

Persons: Joe Biden, Kristalina, Dina Boluarte, Loren Elliott, Kristalina Georgieva, Xi Jinping, Georgieva, Biden, Xi, Janet Yellen, David Lawder, Chris Reese, Tom Hogue Organizations: International Monetary Fund, Economic Cooperation, REUTERS, FRANCISCO, Monetary Fund, Reuters, Biden, U.S ., APEC, U.S, World Trade Organization, United, Hamas, IMF, Treasury, Thomson Locations: Asia, San Francisco , California, U.S, China, United Arab Emirates, GAZA, Gaza, Egypt, Lebanon, Jordan, Israel

U.S. President Joe Biden delivers remarks at the Leaders Retreat during the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Loren Elliott Acquire Licensing RightsSAN FRANCISCO, Nov 17 (Reuters) - U.S. President Joe Biden on Friday urged Asia-Pacific economies to work together to ensure that artificial intelligence (AI) brings change for the better, not to abuse workers or limit potential. Addressing the final session of a two-day summit of the 21-member Asia Pacific Economic Cooperation (APEC) forum in San Francisco, Biden said he had briefly discussed AI with Chinese President Xi Jinping in talks on the sidelines of APEC on Wednesday. The steps, he said, included committing to ensuring the security of AI systems before releasing them to the public, watermarking AI-generated content to show it has been generated by artificial intelligence and minimizing the risk AI systems posed to society, such as by promoting bias or discrimination. Meanwhile, Washington was expanding grants for AI research in key areas like healthcare and climate change, he said.

Persons: Joe Biden, Loren Elliott, Biden, Xi Jinping, we've, Xi, David Brunnstrom, Don Durfee, Cynthia Osterman Organizations: Economic Cooperation, REUTERS, FRANCISCO, Asia, APEC, Wednesday, Thomson Locations: Asia, San Francisco , California, U.S, Pacific, San Francisco, United States, Washington

☆ US, Japan and South Korea leaders hold brief meeting at APEC
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] Ethan Rosenzweig, Acting Chief of Protocol shakes hands greeting Japan's Prime Minister Fumio Kishida for a welcome reception for Asia-Pacific Economic Cooperation (APEC) leaders in San Francisco, California, U.S., November 15, 2023. The leaders posed for a photograph together before leaving without making remarks at the Asia-Pacific Economic Cooperation (APEC) summit, news agency Yonhap reported. The brief meeting comes three months after the leaders met at Camp David in August for talks. Yoon and Kishida promised to push for deeper cooperation in a separate meeting earlier Friday, Yoon's office said. The pair met on Thursday, a day before they were due to attend a roundtable on technological cooperation at Stanford University.

Persons: Ethan Rosenzweig, Japan's, Fumio Kishida, Loren Elliott, Yoon Suk Yeol, Joe Biden, Yonhap, Camp David, Yoon, Kishida, Yoon's, Biden, Josh Smith, Sam Holmes, Christopher Cushing, Gerry Doyle Organizations: Economic Cooperation, REUTERS, Rights, U.S, Japanese, Camp, Stanford University, Nikkei, Thomson Locations: Asia, San Francisco , California, U.S, Rights SEOUL, San Francisco, United States, Japan, North Korea, South, Seoul

The city skyline is reflected in a puddle at sunrise following rainy weather in Sydney, Australia, August 28, 2022. REUTERS/Loren Elliott Acquire Licensing RightsSYDNEY, Nov 15 (Reuters) - Australia will on Thursday introduce two previously announced tax bills that will raise petroleum tax revenue and legislate the government's response to a national scandal over confidential tax plans leaked by a PwC Australia partner. The change is one of 11 recommendations from a Treasury review, eight of which the government adopted in August. The centre-left Labor government will also on Thursday introduce legislation prepared in response to revelations a former PwC Australia partner leaked confidential government tax plans then used it to drum up work with multinational companies. Chalmers in August announced a two-year Treasury review into the rules governing large consulting and auditing firms.

Persons: Loren Elliott, Jim Chalmers, Chalmers, Lewis Jackson, Miral Organizations: REUTERS, Rights, Petroleum, Rent, Labor, Thomson Locations: Sydney, Australia

☆ Australia wages see record rise in Q3, unlikely to be repeated
▼ + stars: | 2023-11-15 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSYDNEY, Nov 15 (Reuters) - Australian wages posted the largest increase on record last quarter as a sharp rise in minimum wages benefited millions of workers, while intense competition among employers pushed up many individual pay deals. Annual pay growth picked up to 4.0%, from 3.6%, the fastest since early 2009 and just above market expectations of 3.9%. "Q3 was a perfect storm for wage pressures," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. Much of the spike was due to a mandated 5.75% rise in the minimum wage which covers more than two million workers. Wage growth in the public sector accelerated to a 12-year high of 3.5%, while the private sector saw growth of 4.2% as firms fought to recruit and retain workers.

Persons: Loren Elliott, Sean Langcake, Wayne Cole, Tom Hogue, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Reserve Bank of Australia, Analysts, Oxford Economics Australia, Thomson Locations: Sydney, Australia

[1/5] Protesters taunt people in suit, during a rally in opposition to the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 15, 2023. REUTERS/Loren Elliott Acquire Licensing RightsSAN FRANCISCO, Nov 15 (Reuters) - Protesters took to the streets of San Francisco early on Wednesday morning ahead of a meeting between U.S. President Joe Biden and Chinese President Xi Jinping, obstructing some entrances to the APEC conference. Global leaders and CEOs of major U.S. corporations will all be at the Asia Pacific Economic Cooperation (APEC) forum in San Francisco, offering tempting targets to protest. Protesters supporting spiritual group Falun Gong, which is banned in China, lined motorcade entry points into the convention center area. Supporters of China also turned out near where Biden and Xi will meet, waving Chinese and U.S. flags as well as posters with both flags together.

Persons: Loren Elliott, Joe Biden, Xi Jinping, Biden, Pema Doma, Xi, ”, Gong, Xi's, Ann Saphir, Peter Henderson, Josie Kao Organizations: Economic Cooperation, REUTERS, FRANCISCO, APEC, Global, Asia Pacific Economic Cooperation, Police, Chinese Communist Party, U.S . Department of Homeland Security, U.S, Secret Service, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Israel, Tibet, United States, China, Francisco

It said it would tender for a new external auditor as part of "best practice for audit firm rotation". PwC has audited Westpac since 2002, before which PwC partners and their ancestor firms had audited the bank since 1968. However, PwC's lead Westpac audit partner assumed the role less than two years ago, in December 2021, according to a Westpac governance statement this month. A PwC Australia spokesperson said the firm understood the board's decision and was proud of its time as Westpac's auditor. Renamed Scyne Advisory, roughly 1,400 of PwC Australia's more than 9,000 staff moved over to the new firm.

Persons: Loren Elliott, PwC, Lewis Jackson, Christopher Cushing, Robert Birsel Organizations: Westpac, Central Business District of, REUTERS, Rights, Westpac Group, PricewaterhouseCoopers, PwC's, Google, Uber Technologies, Facebook, Meta, PwC, Scyne Advisory, Scyne, Thomson Locations: Central Business District of Sydney, Australia, PwC Australia

☆ Ranking the biggest winners, and losers, in the current economy
▼ + stars: | 2023-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're ranking how different generations are doing in the current economy. After watching their parents and predecessors (millennials) struggle with finances, Gen Z is taking matters into their own hands. A May survey found more than half of Gen Z respondents had already started investing.

Persons: —, Tom Brady, Brooks Kraft, who's, It's, They've, Gen Zers, Gen Z, Gen, they've, Zers, HENRY, There's, aren't, Jamie Dimon, Dimon, Banks, Goldman Sachs, Joel Saget, Loren Elliott, Andreessen Horowitz, Elon, Barack Obama's, Allen Berezovsky, Getty, Roberto Machado Noa, Rowan Jordan, Tyler Le, Bob Iger's, it's, that's, Scooter Braun's, Camila Sterling, David Bolno, Sterling, Vivek Ramaswamy, Nikki Haley, Chris Christie, Will Smith, LL, Queen Latifah, Remy Ma, Chris Sattlberger, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Brooks Kraft LLC, Alpha, Beta, Getty, JPMorgan, Treasury, MDs, AFP, Getty Images Google, Microsoft, Google, US, Disney, Republican, NBC News, CBS, Walt Disney Company, Bayer, Airbus Locations: Ukraine, California, Florida, New York City, San Diego, London, New York

Asia's imports of seaborne thermal coal climbed to 75.77 million metric tons in October from 70.29 million in September, according to data compiled by commodity analysts Kpler. The October volume was also above the 69.63 million metric tons imported in the same month last year. While physical demand for seaborne thermal coal is solid in Asia, the same can't be said for prices. China mainly buys thermal coal from the two biggest exporters, Indonesia and Australia. Overall, the combination of weaker Chinese domestic prices and waning European demand may prove sufficient to keep pressure on seaborne thermal coal prices in Asia, even if volumes remain solid.

Persons: Loren Elliott, Shri Navaratnam Organizations: Rights, Argus, Newcastle, Reuters, Thomson Locations: Owen, Ravensworth, Australia, Rights LAUNCESTON, Asia, China, India, Japan, South Korea, Indonesia, Beijing, Canberra, Europe, Ukraine, Turkey, South Africa, U.S

The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at United Nations climate talks in Egypt last year, overcoming years of resistance from wealthy nations. The committee, representing a geographically diverse group of countries, resolved to recommend the World Bank serve as trustee and host of the fund - a tension point that has fuelled divisions between developed and developing nations. Housing a fund at the World Bank, whose presidents are appointed by the U.S., would give donor countries outsized influence over the fund and result in high fees for recipient countries, developing countries have argued. To get all countries on board, it was agreed the World Bank would serve as interim trustee and host of the fund for a four-year period. "Rich countries ... have not only coerced developing nations into accepting the World Bank as the host of the Loss and Damage Fund but have also evaded their duty to lead in providing financial assistance to those communities and countries."

Persons: Tarusila, Loren Elliott, Jennifer Morgan, we're, Harjeet Singh, Sultan al, Jaber, Gloria Dickie, Valerie Volcovici, Andrew Heavens Organizations: Local, REUTERS, United Nations, Bank, Housing, World Bank, Action, U.S . State Department, Reuters, The U.S, Washington DC, Thomson Locations: Village, Fiji, United States, Egypt, Abu Dhabi, Dubai, U.S, Berlin, COP28, London, Washington

☆ Rugby league-Court drops case against Australia's Mitchell and Wighton
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +3 min

Wighton was celebrating his 30th birthday when police removed him from the nightclub and ordered him to leave the city area. I thought I saw something different," Australian media quoted the police officer as saying to Wighton in court on Tuesday. Australia Capital Territory (ACT) Magistrates Court judge Jane Campbell dismissed the case, triggering criticism of police and prosecutors. The arrests were prominently reported by national broadcasters, with video showing four police officers pinning Aboriginal Australian Mitchell face-down to the ground. "I hope everyone knows and understands the seriousness of what's gone on," South Sydney fullback Mitchell told reporters outside the court.

Persons: South Sydney Rabbitohs Latrell Mitchell, Loren Elliott, Latrell Mitchell, Jack Wighton, Mitchell, affray, Wighton, Jack, Jane Campbell, what's, it's, they've, I've, Don Furner, Shane Rattenbury, Ian Ransom, Sonali Paul Organizations: South Sydney Rabbitohs, National Rugby League, Sydney Roosters, REUTERS, Rights MELBOURNE, Australian, Police, ., Capital Territory, Aboriginal, South Sydney, Canberra Raiders, ACT Attorney, ACT Policing, Thomson Locations: Sydney, Australia, Canberra, Melbourne

☆ Here's why investors shouldn’t sell on the typical hate-Apple-trade headlines
▼ + stars: | 2023-10-31 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

Investors should not jump to offload Apple (AAPL) shares because of a handful of cautious reports ahead of this week's quarterly results. Jim Cramer points out that this has been happening since the first iPhone was released in 2007 and even before that. Even in high-conviction stocks like Apple, we do the homework to constantly test our investment thesis against new developments. "It's a classic negative piece on the company that crystalizes the 'hate Apple trade' that's been going on," Cramer wrote in his Top 10 Things to Watch Tuesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim's, that's, Cramer, there's, Apple, China hasn't, Needham, Jim Cramer's, Jim, Tim Cook, Loren Elliott Organizations: Apple, Wall Street, Google, Justice Department, IDC, Street Journal, U.S, MacBook, CNBC Locations: China, India, Cupertino , California

☆ Pilots at Qantas' unit halt planned two-day strike ahead of further talks
▼ + stars: | 2023-10-31 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

AFAP on Friday said that Network Aviation pilots will stop work on Wednesday and Thursday in a bid to negotiate wages. Australia's industrial relations tribunal, the Fair Works Commission (FWC), presided over a series of talks between pilots and the airline on Monday. AFAP members – who make up 90% of the pilot group at Network Aviation – won't be engaging in protected action until next week's bargaining sessions are completed, the pilots' union said. Meanwhile, Qantas expressed disappointment over the union choosing to "cause disruption and uncertainty" by threatening the strike, a few days before a meeting with the FWC. The airline will continue to work with the FWC over coming weeks to seek a resolution, it added.

Persons: Loren Elliott, AFAP, –, Tim Waterer, FWC, Rishav Chatterjee, Ayushman Ojha, Mrigank Dhaniwala Organizations: Qantas, Kingsford Smith International Airport, REUTERS, Pilots, Network Aviation, Qantas Airways, Australian Federation of Pilots, Qantas Group, Fair Works Commission, Thomson Locations: Sydney, Australia, Bengaluru

Customers seen in the self-service checkout area of a Coles supermarket in Sydney, Australia, June 17, 2020. REUTERS/Loren Elliott/File Photo/File Photo Acquire Licensing RightsOct 26 (Reuters) - Australian retailers are ramping up their tech security initiatives, including placing cameras at self-checkouts and body-worn cameras on staff, to combat a surge in stock theft and customer aggression aggravated by the cost of living crisis. "Unfortunately the data suggests it's continuing to occur," added Thomson, whose firm counts Coles and Woolworths as clients. Reports of store theft surged 23% in Australia's three largest states of New South Wales, Victoria and Queensland, home to three-quarters of the population, in the year to March 2023, according to the latest available government statistics, as COVID-related restrictions ended. Reports of threatening behaviour by shoppers rose to 17% of all security reports logged by Australian store staff in 2023, from 10% three years earlier, according to Auror data reviewed by Reuters.

Persons: Loren Elliott, Phil Thomson, Thomson, Coles, Leah Weckert, Weckert, Brad Banducci, Gerard Dwyer, Rishav Chatterjee, Byron Kaye, Praveen Menon, Christian Organizations: Coles, REUTERS, Woolworths, New, Reuters, National, of, Allied Employees Association, Thomson Locations: Sydney, Australia, New Zealand, Australia's, New South Wales, Victoria, Queensland, Bengaluru

A new Apple Watch Ultra 2 is displayed during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Masimo's 2021 complaint said the 2020 Apple Watch Series 6, the first model with blood-oxygen monitoring capabilities, infringed its patents. Apple has since shifted some of its Apple Watch production to Vietnam. Irvine, California-based Masimo has accused Apple of stealing its technology and incorporating it into several Apple Watch models. Apple is also facing an Apple Watch import ban in a separate patent dispute with medical technology company AliveCor.

Persons: Loren Elliott, Joe Biden's, Masimo, Joe Kiani, Apple's wearables, AirPods earbuds, Blake Brittain, David Bario, Grant McCool, Bill Berkrot Organizations: Apple Watch, REUTERS, U.S . International Trade Commission, Apple, U.S ., Appeals, Federal Circuit, ITC, Thomson Locations: Cupertino , California, U.S, China, Vietnam, Irvine , California, California, Delaware, Washington

☆ Australia's Westpac warns of $109 mln hit to fiscal 2023 profit
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The bank sees an increase in provisions for customer refunds and associated payments and restructuring costs, among others, in fiscal 2023. Westpac reported a net profit attributable of A$5.69 billion in fiscal 2022. The company noted that the notable items recorded in fiscal 2023 are significantly lower than the notable items of A$874 million recorded in fiscal 2022. The net impact of these one-off items will reduce the bank's common equity tier 1 capital ratio by 4 basis points, it added. ($1 = 1.5855 Australian dollars)(This story has been corrected to say Westpac warns of a hit, not lower fiscal 2023 profit, in the headline)Reporting by Roushni Nair in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Loren Elliott, Roushni Nair, Shailesh Organizations: Westpac, Central Business District of, REUTERS, Westpac Banking Corp, Thomson Locations: Central Business District of Sydney, Australia, Bengaluru

☆ China vice premier pushes for more Apple investment, cooperation
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Sales of iPhone 15 models in their first 17 days in China were down 4.5% compared to the iPhone 14, Counterpoint Research said, without providing specific figures. China in September widened curbs on the use of iPhones by state employees, telling staff at some central government agencies to stop using their Apple handsets at work. "China is willing to provide more opportunities for foreign-funded enterprises including Apple to develop in the country," Ding told Cook in a meeting on Thursday, according to Chinese state radio. Cook said Apple was confident in the prospects of Chinese market, and was willing to strengthen cooperation with China in fields including high-end manufacturing and digital economy, the state radio reported.

Persons: Tim Cook, Loren Elliott, Ding Duexiang, Cook, Cook's, Ding, Apple, Ethan Wang, Bernard Orr Organizations: Apple, REUTERS, Rights, U.S, Huawei, Research, Thomson Locations: Cupertino , California, U.S, Rights BEIJING, Beijing, China

☆ Australia antitrust watchdog to oversee domestic air travel sector
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

A Qantas plane takes off from Kingsford Smith International Airport, following the coronavirus outbreak, in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott Acquire Licensing RightsCompanies Qantas Airways Ltd FollowSYDNEY, Oct 18 (Reuters) - Australia will ask its competition watchdog to monitor domestic passenger flights in a bid to boost competition in a sector dominated by national carrier Qantas, which is under scrutiny for alleged anti-competitive behaviour. The Australian Competition and Consumer Commission (ACCC) will monitor prices, costs and profits in the domestic air passenger sector, according to a joint statement from Treasurer Jim Chalmers and Transport Minister Catherine King on Wednesday. "A competitive airline industry helps to put downward pressure on prices and deliver more choice for Australians facing cost-of-living pressures," the statement said. "ACCC market scrutiny will help ensure airlines compete on their merits, bring to light any inappropriate market conduct should it occur, and provide continued transparency at a time when new and expanding airlines are still trying to establish themselves."

Persons: Loren Elliott, Jim Chalmers, Catherine King, Alan Joyce, Lewis Jackson, Muralikumar Organizations: Qantas, Kingsford Smith International, REUTERS, Rights Companies Qantas Airways Ltd, SYDNEY, Australian Competition, Consumer Commission, Transport, Qatar Airways, Thomson Locations: Sydney, Australia

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