
Guernsey's inflation rate slows to 3.9%, States figures show
Guernsey's inflation rate in April was 4.2%.
What is inflation?
Inflation is the increase in the price of something over time.For example, if a litre of milk costs £1 but is £1.05 a year later, then annual milk inflation is 5%.
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BreakingNews.ie
19 minutes ago
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Presidential candidates can now be reimbursed up to €250k for election expenses
An order increasing the maximum amount of election expenses that can be reimbursed to a candidate at a presidential election from €200,000 to €250,000 has been signed by Minister for Housing and Local Government James Browne. Election expenses are reimbursed to a candidate at a presidential election who is elected or, if not elected, the total of their votes exceeds one quarter of the quota. Advertisement Section 21A of the Electoral Act 1997 provides that the maximum amount of election expenses that can be reimbursed to a candidate at a presidential election is €200,000. However, under the Act, the minister may vary the amounts having regard to changes in the Consumer Price Index. A review of the amounts typically takes place in advance of each election. Applying the CPI increase since the amount was last revised resulted in a potential increase to €252,700 which has been rounded down to €250,000. Section 53 (as amended) of the Electoral Act 1997 provides that spending by a candidate at a presidential election shall not exceed €750,000. It is not proposed to increase the spending limit, so it will remain at €750,000.


Daily Mail
19 minutes ago
- Daily Mail
Why young Aussies are walking out of high-paying jobs
By Young Australians are less interested in having a long, stressful career as houses become increasingly unaffordable for average-income earners. Australia's median capital city house price is now above $1million, meaning only dual-income couples or individuals on high salaries can buy a home with a backyard. But rather than work harder in a career role to afford a house, Australia's younger workers are less inclined to do stressful corporate jobs, long-term, if there isn't a meaningful reward or a work-life balance, despite there being a cost-of-living crisis. Jin, 23, is graduating at the end of this year from the University of Sydney with a Bachelor of Science majoring in data science and accounting. He will start a full-time graduate role in January next year and is bracing for the occasional weekend shifts as he helps prepare financial reports for big firms during the twice-yearly earnings seasons. But he is aspiring for some work-life balance in his twenties, including some travel. 'I do think a balance is necessary - if we don't have the correct amount of sleep or just the correct amount of breaks to take our minds off things, it's just very hard for us to stay focused,' he told Daily Mail. 'I do want to explore the world outside of Australia. I want to see and experience different cultures.' He is also hoping to work reasonable hours so he has time for family and a social life. 'I think I have a nice balance right now, where I spend my time with my family and my partner,' he said. 'Once or twice a year, I strive to take a one-week holiday or go on a break with my family or my partner.' Jamie MacLennan, the Asia-Pacific managing director of TELUS Health, said younger workers were less inclined to take on stressful roles, despite needing higher pay to cope with the cost of living crisis. 'People are trying to rebalance and balance the work-life component in a world where we're essentially on 24/7,' he said. 'Somewhere along the line, people have got to earn a living, but then the question is - "What's the cost of making that living?" - that's where people are rebalancing. 'You can't quit completely or at scale - there's always going to be an element of people who do that. 'Whether they take the traditional career paths, whether they aspire to those, creates a bigger dislocation.' Mr MacLennan said the mental health effects of Covid on younger people would create succession planning issues for companies in coming years, as fewer of them aspired to be in senior roles. 'We haven't recovered from Covid - our brains have been rewired. There continues to be a mental health crisis - crisis is not an overstated term in Australian society and it's most acute in that younger generation coming through,' he said. 'People have that sense of missing out - they're in a situation where they can't afford to get what they want or they can't afford to live in the environment that they want.' Stress is now a deal breaker for staff, with recruitment agency Randstad revealing 60 per cent of workers would rather have less stress than more pay. Unbearable demands had seen 40 per cent of workers switch to a lower-paid role. Amelia O'Carrigan, Randstad's director of public sector and business support, said employers couldn't ask staff to work five days in the office without incentives. 'It's not a complete pull back on flexibility and expect that workers will agree to that. In fact, to completely say - "You need to be back into the office five days" I would say would be a risky strategy,' she said. 'As job confidence starts to return, you'd be at risk of employees looking elsewhere.' The Randstad survey of 5,250 workers in Australia, Germany , Italy , Japan , Poland , the UK and the United States found stress to be a major issue. Financial concerns are the biggest driver of personal stress in Australia, with 44 per cent nominating it as a problem, a survey of 1,000 people by TELUS Health found. Unaffordable housing was also cited as a driver, with 18 per cent nominating their housing or living situation as a source of personal stress. While many young people are reconsidering taking on stressful roles, Jin said he would be willing to make sacrifices to one day establish a data-oriented start-up for small businesses, that could use AI to audit their finances in real time. 'If I were to want to live comfortably, or think about having a better life, I would try to branch off into a different industry,' he said. 'If the corporate ladder doesn't work, I'll try my hand with something I like within data science, because I sacrificed it away for stability - I'll try to think about doing a start-up project on the side. 'Earning more money comes with more responsibilities so naturally you come with more stress - probably personally, I think I have pretty good stress management.' 'My goal, before I hit 30, I'll try to get a car that I like, I like sports cars, I want to work towards that. We need goals in life or what are we working for? If we're just working for a living - it's not hard, it would just be very boring.'


Times
an hour ago
- Times
Armani fined €3.5m by regulator over workers' rights
Italy's consumer regulator has issued a €3.5 million fine to the luxury fashion house Armani over misleading ethical claims. The label, which has been worn by Angelina Jolie, Sharon Stone and Kevin Spacey at recent high-profile events, has long claimed to protect workers' rights. However, the antitrust regulator published findings on Friday claiming Armani had outsourced most of its handbag and leather accessory production to third-party manufacturers, many of which subcontracted to companies that failed to meet health and safety standards. There was evidence at some of the subcontractors' plants that safety devices had been removed to increase production. Sanitary and hygiene conditions were deemed 'inadequate' and workers were 'frequently employed either wholly or partially off the books'. 'In this context, it is evident that the protection of workers' rights and health did not align with the content of the ethical and social responsibility statements disseminated,' the watchdog said. It did not say where the workers were based. Armani said it was 'embittered and shocked' and would appeal against the ruling. It insisted it had 'always operated with the utmost fairness and transparency towards consumers, the market and stakeholders'. Giorgio Armani appeared at Milan Fashion Week in 2024 but did not attend this year GABRIEL BOUYS/AFP/GETTY IMAGES In a 2022 report, the company listed 'respect for human and workers' rights' as one of its greatest concerns and said in statement last year it had 'always had control and prevention measures in place to minimise abuses in the supply chain'. An investigation into Dior, which is owned by LVMH, the French multinational, was closed after the brand made a series of commitments relating to its supply chain monitoring. The Milan-registered Loro Piana and Valentino were put under judicial administration over alleged worker abuses in supply chains earlier this year. Codacons, a consumer rights group, said: 'Consumers who buy products from the fashion giant spend considerable sums [that] should represent excellent quality and workmanship.' Giorgio Armani, 91, remains the sole shareholder and chief executive of the label he founded 50 years ago. In a sign of his advancing years, he opted out of his usual appearance at Armani's runway shows at Milan Fashion Week in June, when the company said he was 'recovering at home'. The brand has a significant presence in the UK, with flagship stores on London's Bond Street and Regent Street, and made €2.3 billion global revenue last year.