Certain industries fare better in economic downturns according to franchise network Snap-on Tools Australia who announced an average yearly sales growth rate of 7.7 percent from 1991- 2008. The company is attributing its steady growth to its supply of tools to the automotive repair industry, which is showing signs of remaining steady as consumers retain […]
A leading economist has suggested that the Reserve Bank of Australia and the Government need to continue to work together to lift the economy out of recession, believing if they do so, the recession will be less damaging than the previous. Westpac chief economist Bill Evans said that world growth is weaker compared to the […]
Legal firms have been put under the spotlight, with claims of exploitation of clients. Australia’s attorney-general is set to consider measures which prevent legal firms exploiting their clients and overcharging. The new measures will include a prohibition on law practices charging excessive costs, and fines for any breaches of provisions adopted; along with a new […]
Australians businesses are feeling the pressure of the global economic downturn, with payment terms rising to 57.6 days, according to Dun & Bradstreet’s (D&B’s) latest quarterly trade payment analysis. The figures reveal a five day increase in terms since September 2007, taking business-to-business payment terms (all industries) to almost double the standard term. D&B CEO […]
The big banks have defended their position on interest rates, with the Australian Bankers Association claiming that the banks should be allowed to ramp-up pricing on loans, or hold onto further interest rate cuts to bolster profits in the face of a slowing economy. The comments are likely to cause outrage with industry groups and […]
Households have suffered their worst loss of wealth in almost 50 years, according to Analysing Treasury data. The economy is deteriorating at a faster pace than in the previous recession, and consumers are feeling the pinch with wealth held in property, shares and other assets falling nearly 12 percent in the past year. The data […]
The Reserve Bank of Australia’s head of financial stability deparment, Luci Ellis believes that the global economy will only recover once the credit supply and the world banking systems are “restored from their sick beds.” In an speech at the Victoria University of Technology conference ‘Australia in the global storm: A conference on the implications […]
Microsoft and Yahoo are in talks of a possible search engine partnership, in order tackle their ever growing competitor Google. The two technology giants are currently in talks to join forces, in order to boost the popularity of the two flailing search engines. The news comes as the latest ComScore figures have shown that Microsoft […]
A senate inquiry into the Federal Government’s emissions trading scheme has begun today, called by the Greens and Coalition to examine the design and effectiveness of the scheme. The Greens have long opposed the Government’s emissions trading scheme, believing the plan would, “undermine existing policies to move Australia to renewable energy, energy efficiency and clean […]
News Corporation chairman Rupert Murdoch announced on Tuesday, a new unit that will allow for the sharing of content and resources across his media empire. This will include his various newspaper, magazine, online and television holdings across the US, UK and Australia. In a statement, John Moody, executive vice president at the FOX News television […]
