Australian online retailer collapses | 7NEWS

An Australian online clothing retailer has collapsed suddenly, becoming the latest business to fall victim to rising costs and falling consumer demand. Australian Made Clothes announced the shock closure via social media this week, confirming the e-commerce business australianmadeclothes.com.au would be shutting. “We simply can’t continue operating,” the post read. “We would like to thank … Read more

Dozens of neo-Nazis in Scotland exposed after cyber attack leaks details

DOZENS of neo-Nazis in Scotland have been exposed after their details were leaked in a cyber attack on a website. The Swedish site Midgård boasts that it sells Nazi music, clothing and propaganda that “fight for the white cause” and “deliver products to nationalists all around the world.” 2 The hacked data with made public … Read more

Consumer staples demand surges in the ongoing wedding season

Demand for staples such as basmati rice, edible oils and maida (refined wheat flour) has increased up to 35% year-on-year in the ongoing wedding season, said industry executives. The increase in consumption of essential commodities has been witnessed in not only the bigger urban regions but also tier-2 and tier-3 cities, they said. “We are … Read more

Indian police arrest 4 people after security breach at parliament on anniversary of 2001 deadly attack; PM Modi not there

A man jumped into the lawmakers’ area of the lower house of India’s parliament on Wednesday, in a major security breach on the 22nd anniversary of a deadly attack on the complex. TV channels showed a man wearing a black jacket jump from the visitors’ area into the lawmakers’ seating area, climbing over tables of … Read more

European Central Bank to focus on shrinking its balance sheet

Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images FRANKFURT — The European Central Bank meets this week with investors closely monitoring to see when the Frankfurt institution might start to cut interest rates. It will be too early to declare victory in the battle against inflation, but with … Read more

Sadiq Khan: plans to cut migration will trigger London recruitment crisis | Immigration and asylum

Sadiq Khan has warned that ministers’ plans to cut legal migration will lead to a “full blown recruitment crisis” in London, with vacancies in hospitality alone still higher than they were pre-pandemic. Net migration boosted the UK population by 672,000 in the year ending June 2023, with about half of the country’s foreign-born population (48%) … Read more

Why Fed rate hikes take so long to affect the economy

The U.S. economy continues to grow despite the 5.5% benchmark federal funds interest rate set by the Federal Reserve in 2023. The Fed’s leaders expect their interest rate decisions to eventually slow that growth. The increase in borrowing costs that stems from Fed decisions does not affect all consumers immediately. It typically affects people who … Read more

Melbourne-based cafe chain Puzzle Coffee enters voluntary administration

A popular coffee chain, with four locations in Melbourne, has gone into administration. Puzzle Coffee went into voluntary administration on June 28, according to documents listed by the Australian Securities and Investments Commission (ASIC) The café chain, which boasts cafés at Swanston St, Melbourne Central, Southern Cross Station and Chadstone Shopping Centre, said they are … Read more