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History made as flying kangaroo reconnects Australia to India

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Qantas will launch the first new international route from Melbourne since the onset of Covid-19 when it begins direct flights to Delhi next month.

The new service will take off on December 22 and will initially operate four times a week from Melbourne to Delhi via Adelaide using an Airbus A330, with the return leg flying directly from Delhi to Melbourne.

The announcement came as Qantas resumed regular long-haul international flying out of Melbourne for the first time since March 2020.

The airline re-started flights to Singapore today with flights to London via Darwin set to follow later this week, allowing hundreds of Melbourne-based crew to begin returning to work.

Melbourne Airport CEO Lyell Strambi said that while international travel would take time to recover from Covid- 19, the new Delhi service was a huge vote of confidence in Victoria.

Qantas boss Alan Joyce / Image: File

“Direct international air services are worth millions of dollars to the state’s economy”, he said.

“Not only do they allow easier access for visiting family and friends, tourists, skilled workers and students, they also give local exporters the ability to send time-critical produce into huge overseas markets.

“We’re working with our airline partners and the Victorian state government to restore the capacity we’ve lost during the pandemic, and to explore potential opportunities for new routes.

“The Melbourne-Delhi link is a major addition to Qantas’ route network, and one we believe has significant potential.

“To ensure these new services remain viable it is vital the federal government commits to re-opening to all fully- vaccinated travellers as soon as possible.

“Australians have had the opportunity to come home and given our high levels of community vaccination, the time is right to welcome back the rest of the world”.

Qantas has rolled out a range of new initiatives including a customised digital travel guide designed to help passengers navigate travel requirements before they leave home.

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World’s second-biggest fashion retailer blames Russia for 89% profit drop

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The Swedish fashion giant H&M says profits have dropped 89 per cent

They blame cost inflation, slow consumer spending and one-off expenses related to its exit from Russia.

Pretax profit in the period, the Swedish group’s fiscal third quarter, fell to 689 million crowns ($60.9 million) from a year-earlier 6.09 billion.

The Russian exit accounted for half of the decrease in profits, according to the retailer.

H&M announced a cost cutting programme that it predicted would result in annual savings of around 2 billion crowns, with savings expected to become visible in the second half of 2023.

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How Disney beat Netflix at its own game

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When it comes to streaming, there’s a new sheriff in town.

Disney+ has quickly become a major force in the streaming wars, adding over 14 million new subscribers in its latest quarter. That’s a big jump from the 3 million it had just three months prior.

In comparison, Netflix lost nearly 1 million subscribers in the same period.

So what happened? How did Disney+ overtake Netflix so quickly?

There are a few factors at play.

For one, Disney+ has a lot of content that people want to watch. As well as its acquisition of 21st Century Fox, the service  has access to popular franchises like Star Wars, Marvel, and The Simpsons. That’s a big draw for people who are looking for something to watch.

In addition, Disney+ is much cheaper than Netflix. A subscription to Disney+ costs $6.99 per month, while a Netflix subscription starts at $8.99 per month. For people who are trying to save money, Disney+ is the more appealing option. Though Disney and Netflix have signalled they’re going to push up their prices.

Disney+ has been aggressive in marketing itself as the superior streaming service. The company has run a number of ads that compare its service favorably to Netflix. This has helped convince people to switch to Disney+.

The Disney effect

The Walt Disney Company launched Disney+ on November 12, 2019. The streaming service is available in the United States, Canada, the Netherlands, Australia, New Zealand, and Puerto Rico.

As of the second quarter of 2020, Netflix had nearly 221 million subscribers across 190 countries.

Factbox

What is the market share of Netflix? In the United States, Netflix has a market share of 37%. That means it is the most popular streaming service in the country.

When was Netflix founded? Netflix was founded on August 29, 1997, in Scotts Valley, California.

What type of company is Netflix? Netflix is a publicly-traded company. Its stock is traded on the Nasdaq under the ticker symbol NFLX.

What is the headquarters of Netflix? The headquarters of Netflix is located in Los Gatos, California.

Disney+ facts

Disney is spending $1 billion per year on its streaming service.

What is the market share of Disney+? In the United States, Disney+ has a market share of 24%.

When was Disney+ launched? Disney+ was launched on November 12, 2019.

What type of company is Disney? Disney is a publicly-traded company. Its stock is traded on the New York Stock Exchange under the ticker symbol DIS.

How much does Disney stock cost? As of August 2020, the price of one share of Disney stock is $115.76.

What is the headquarters of Disney? The headquarters of Disney is located in Burbank, California.

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The world’s largest online retailer gives staff a pay rise

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Workers at Amazon’s warehouse and transportation hubs are set to receive a pay rise

The world’s biggest online retailer says wages will increase to over 19 dollars, which is up from 18.

It’s part of a plan to help the company attract and retain workers in a very tight labor market.

Of course, the peak shopping season is also getting underway.

Amazon says the price increase will cost its company nearly one billion dollar in the next year alone.

The minimum for workers on an hourly wage will stay at 15 dollars.

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