The RBA predicts inflation will rise faster than wages. Let’s hope it’s wrong | Greg Jericho

No one was shocked on Tuesday to hear the Reserve Bank of Australia did not cut rates, but reading the economic tea leaves (that is, the RBA board statement), it would appear the belief a rate cut would happen after the rise in the unemployment rate was misguided. They really had no intention of lowering rates at all.In the end, even the 7% chance the market gave of a rate cut on Tuesday was overstating it. The governor of the Reserve Bank, Michele Bullock, told reporters the RBA monetary policy board didn’t even discuss cutting rates.I suggested last week the RBA was rather sanguine about the rise in unemployment, and so it was

Marks & Spencer’s cyber-trauma is bad, but clearly manageable

You can tell Marks & Spencer is recovering from its cyber-attack trauma because Stuart Machin, the chief executive, now has time to indulge in some chancellor-baiting.Rachel Reeves’ pre-budget speech on Tuesday was a “nothing” announcement, said Machin, that will just make consumers more worried. Even his mum had been calling him to debate what it meant.He makes a fair point. The warmup to the budget has been far too drawn-out and the chancellor’s clunky exercise this week in trying to manage expectations, even if it was primarily aimed at the bond market, only added to the sense of confusion

LOL: is this the ultimate texting faux pas (and what should you use instead)?

From abbreviations to happy poos, gen Z has strong opinions on appropriate texting behaviour. But can anyone keep up with the ever-changing rules?Name: “LOL”.Age: The Oxford English Dictionary first included LOL in 1997.Not to be confused with: Loll, which is what dogs sometimes do.So as in “laugh out loud”? Or laughing out loud, though David Cameron thought it stood for “lots of love” and used to sign off to Rebekah Brooks, the former Sun and News of the World editor, with a LOL

Elon Musk’s $1tn Tesla pay deal to be rejected by huge Norway wealth fund

Norway’s sovereign wealth fund has said it will vote against a $1tn (£765bn) pay package for the Tesla chief executive, Elon Musk.The fund, which is the biggest national wealth fund in the world, said that while it appreciated the “the significant value created under Mr Musk’s visionary role” it would vote against his performance award.“We are concerned about the total size of the award, dilution and lack of mitigation of key person risk – consistent with our views on executive compensation,” it said. “We will continue to seek constructive dialogue with Tesla on this and other topics.”The warning from Norges Bank, which is the seventh biggest single shareholder in Tesla with a stake worth $17bn, comes two days before the carmaker hosts its annual shareholder meeting

McIlroy thanks PGA chief for Ryder Cup apology and questions LIV changes

Rory McIlroy says the PGA of America chief executive, Derek Sprague, apologized personally for the abuse directed at the world No 2 and his wife during Europe’s Ryder Cup triumph at Bethpage Black, and that the gesture helped to close the book on what had been a bruising week.“I got a lovely email from Derek Sprague apologizing,” McIlroy told BBC Sport ahead of the Abu Dhabi HSBC Championship. “Erica worked with Derek at the PGA of America back in the day, so we know Derek and his wife pretty well. He couldn’t have been more gracious or apologetic and he wrote us a lovely letter, which we really appreciated.”A beer hurled from the stands struck Erica’s hat during the fiery three-day contest, in which McIlroy became a lightning rod for a raucous home crowd

Venus Williams, 45, to open 33rd straight professional season at Auckland Classic

Tennis great Venus Williams plans to play for a 33rd straight season on the WTA Tour, starting in Auckland in January.Organizers of the ASB Classic in New Zealand said Wednesday that the 45-year-old Williams would feature at their 5-11 January event.It suggests the seven-time grand slam singles champion is preparing for the Australian Open later that month, a tournament she has twice lost in the final.“She is one of the great players in the modern era and her performances on the court speak for themselves,” said tournament director Nicolas Lamperin, who added that she was in “remarkable shape and form”.“Off the court she has made an equally significant contribution to the game and to the development of female players worldwide,” he said