Money
Qantas reveals $500 million loss caused by lockdowns
Qantas is forecasting a loss of more than $2 billion this financial year
The Aussie Airline has issued a statement to the ASX stating that recent COVID-19 lockdowns had cost the airline $500 million in earnings.
That included $15 million from Perth’s 3-day snap lockdown, $29 million from the Brisbane lockdown, and even worse, $400 million from the lockdown in Sydney’s Northern Beaches.
A sustained rebound in the Australian domestic travel market and the performance of its Freight and Loyalty divisions continues to drive the Qantas Group’s recovery from the impacts of COVID-19.
The national carrier has recently pushed back its plan to restart international travel.
In a statement, Qantas CEO Alan Joyce says:
“Managing costs remains a critical part of our recovery, especially given the revenue we’ve lost and the intensely competitive market we’re in.”
Joyce has called for urgency to speed up the rollout of the COVID-19 vaccine in Australia, stating “Australia has to put the same intensity into the vaccine rollout as we’ve put on lockdowns and restrictions, because only then will we have the confidence to open up.”
“We’ve adjusted our expectations for when international borders will start opening based on the government’s new timeline,
Some Qantas crew are back at work – others are set to go
Qantas boss Alan Joyce said, “It’s great to see so many of our people now back at work and the majority of our fleet back in the air.”
The airline has reduced its workforce drastically since the start of the pandemic, with thousands of employees wither stood down or made redundant.
Qantas confirmed of approximately 22,000 roles across the Group, some 16,000 are currently stood up, including all domestic crew, all corporate employees and some international crew.
It’s understood the airline will ask international cabin crew to volunteer to be made redundant.
Money
U.S. stocks falling amid AI worries and weak earnings
U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.
U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.
U.S. stocks are tumbling as investors grow concerned over AI profitability and disappointing earnings. Defensive sectors are attracting attention ahead of the upcoming CPI report, while market participants are carefully watching how tech-heavy AI stocks are influencing broader indices. Steve Gopalan from SkandaFX notes that these factors are shaping market sentiment.
For traders, commodities like gold and oil are also playing a role in sentiment, providing hedges amid market uncertainty. The January jobs report and unemployment data are adding further context, with potential implications for Federal Reserve policy.
Market expectations for rate cuts are shifting as investors weigh economic indicators against global market dynamics. Traders are also eyeing currency movements, including the Australian Dollar and Japanese yen, for signs of broader economic trends.
Money
Wall Street tumbles as tech stocks face AI disruption fears
Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.
Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.
Wall Street took a sharp hit as tech stocks plummeted amid growing investor anxiety over artificial intelligence. Markets reacted strongly to uncertainty about how AI could disrupt major sectors, leaving investors on edge. Kyle Rodda from Capital.com explains why investors are nervous about what’s ahead.
Cisco Systems’ quarterly results added to the market jitters, while defensive sectors gained attention as investors sought safer bets. Analysts describe 2026 as a ‘prove it’ year for AI, with companies needing to demonstrate real returns on their ambitious investments.
The January Consumer Price Index report and rising concerns over AI’s impact on transportation companies further weighed on sentiment. Investors are now closely watching major tech firms for signals on how AI spending will shape future market performance.
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Money
U.S. jobs report, Fed decisions, and Japan’s economic risks explained
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.
US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.
Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.
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