The collapse of one of the nation's oldest engineering companies, RCR Tomlinson, has destroyed Christmas for thousands of families, according to the union dealing with the fallout from the unexpected job losses.

AUSTRALIAN consumers are the gloomiest they have been in three years, survey data released this morning shows.

JOHN Wylie will step down at year’s end as head of Lazard Advisory in Australia to be replaced by ­Andrew Leyden and Lachlan ­Edwards.

The local share market is closed for Australia Day, while rising COVID-19 cases and delays in supplying vaccines have offset Wall Street's optimism about a potential $US1.9 trillion ($2.46 trillion) stimulus package that the Biden administration is trying to pass.

With unprecedented support from global governments, the stock market has boomed, driving up billionaire's wealth even while the real economy has faced the deepest recession in a century and the poor have gotten poorer.