Business & Economy

Published: 04 November 2026. The English Chronicle Desk. The English Chronicle Online. A major public inquiry into Australia's $368 billion AUKUS nuclear submarine agreement has recommended that the government abandon the submarine programme, describing it as the most expensive, risky and potentially damaging defence decision in the country's history. The report argues that the agreement could undermine Australia's national sovereignty, increase the risk of military confrontation with China and create...

Published: 04 November 2026. The English Chronicle Desk. The English Chronicle Online. The future of Australian department store chain David Jones has been thrown into serious uncertainty after last-minute negotiations between its private equity owner and its largest landlord collapsed, raising the prospect that the 188-year-old retailer will enter administration. The breakdown in discussions has intensified concerns about the survival of one of Australia's best-known retail brands, which has struggled...

Published: 04 November 2026. The English Chronicle Desk. The English Chronicle Online. Democratic candidate James Talarico has secured a historic victory in the United States Senate election in Texas, ending nearly four decades of Republican dominance in statewide Senate contests and delivering a major political setback to President Donald Trump and his allies. The 37-year-old politician defeated Republican candidate Ken Paxton, the state's attorney general and a prominent Trump supporter,...

Published: 04 November 2026. The English Chronicle Desk. The English Chronicle Online. The Democratic Party has regained control of the United States House of Representatives following a sweeping series of victories in the 2026 midterm elections, delivering another major political setback to President Donald Trump and his Republican administration. The results mark a significant shift in the balance of power in Washington, as growing public dissatisfaction with the cost of...

Published: 04 November 2026. The English Chronicle Desk. The English Chronicle Online. Democrats have regained control of the United States Senate following a remarkable series of victories across the country, delivering a significant political setback to President Donald Trump and raising fresh questions about the future direction of his administration. The election results represent a dramatic reversal of the political landscape established in 2024, when Republicans secured control of the...

Published: 03 November 2026. The English Chronicle Desk. The English Chronicle Online. Virgin Media O2 is preparing to cut thousands of jobs as part of an £800m annual cost-saving programme designed to reduce expenses, reshape the telecommunications company and address its substantial debt burden. The company, jointly owned by Liberty Global and Telefónica, said it expects around £300m of its planned savings to come from reducing its employee wage bill....

Published: 03 November 2026. The English Chronicle Desk. The English Chronicle Online. Australia is considering changes to its visa arrangements with the United Kingdom after a sharp increase in the number of British young travellers arriving in the country and taking up work in major cities and popular coastal destinations. Prime Minister Anthony Albanese has indicated that Canberra wants to revisit elements of the agreement governing British backpackers, particularly the...

Published: 03 November 2026. The English Chronicle Desk. The English Chronicle Online. One of Queensland’s major hospitals is permanently closing its in-house pathology services following safety concerns over potential formaldehyde exposure and a wider review of the financial sustainability of its pathology operations. The decision will affect about 400 employees across Mater’s Brisbane and Springfield hospitals and will see pathology services transferred to specialist external providers. The development follows the...

Published: 03 November 2026. The English Chronicle Desk. The English Chronicle Online. Australia’s central bank has raised interest rates for the fifth time in 2026, pushing the official cash rate to 4.85%, its highest level since 2008, as policymakers intensify efforts to contain persistent inflation. The decision is expected to increase financial pressure on millions of households with mortgages, while raising fresh questions about the country’s economic outlook and the...

Published: 03 November 2026. The English Chronicle Desk. The English Chronicle Online. Denmark is preparing to introduce a national ban on fast-growing chickens commonly known as “turbo chickens” and is urging the European Union to consider prohibiting the controversial poultry breeds across the bloc. The proposed measures follow widespread public outrage over allegations of animal welfare violations at a major Danish chicken production facility, bringing renewed attention to the conditions...