As the economy shrinks further into recession, Australian airline Qantas has revealed it will remove 500 management positions along with an additional 1,250 full time positions. The airline has also slashed its full year pre-tax profit outlook to between $100 million and $200 million, down from its previous forecast of $500 million. Qantas’s chief executive, […]
The Australian Conservation Foundation (ACF) is urging consumers to think wisely about how they spend their $900 stimulus payments, encouraging all Australians to put it towards a greener economy. In an effort to stave off unchecked consumption, the ACF is encouraging consumers to think about using their money to tackle the ever looming problem of […]
The hotel and tourism sectors have been hit hard by a weakening economy, as demand for beds falls. Consumers are choosing instead to save their money and stay home, with the latest Tourism & Transport Forum’s Capital City Accommodation Index revealing that hotel occupancy levels in all capital cities are down. Ross Beardsell, the senior […]
Japan’s economy is in crisis, according to Prime Minister Taro Aso, as a ¥15.4 trillion stimulus package is announced. “Japan’s economy is worsening rapidly with exports and production tumbling. Job conditions are also deteriorating sharply,” Aso told a media conference. The new stimulus package, designed to lift the world No.2 economy out of recession, is […]
Technology retailer JB Hi-Fi Ltd has said it will benefit greatly from the government’s latest $900 stimulus payments, believing many younger consumers will spend their money on tech products to ‘treat themselves.’ JB Hi-Fi chief executive Richard Uechtritz believes that the younger generation will spend their payments on new products as many are not tied […]
The recent cut in interest rates by the RBA to three percent has put the spotlight on the banks, who are being urged by the Rudd Government to pass on the rate cuts to business and consumers. Laiki Bank Australia has announced it will reduce its home loan rate by 10 basis points, making it […]
Businesses are being encouraged to attend the 2009 Australian Innovation Festival, running from 26 April to 30 May to help them through downturn by implementing innovative business solutions. The Australian Innovation Festival encourages and supports networking and business opportunities, along with increasing the awareness and importance of innovation and entrepreneurship. With a 2009 theme of […]
The Labour Force data for March 09 released last week, paints a bleak picture for the Australian economy with the unemployment rate reaching 5.7 percent, and Australia’s top 10 trading partners falling into recession. According to the ABS figures, the number of people in full time work decreased by 38,900 while the number of people […]
With the Easter break about to commence, IBISWorld general manager (Australia) Robert Bryant has predicted that this year people will most likely streamline their Easter celebrations, with total retail spending expected to fall by 0.8 percent from last year, amounting a loss of $1.3 billion. Mr Bryant believes more families will be eating in as […]
Today’s labour force report for March is expected to reveal another jump in the unemployment rate to atleast 5.4 percent. Economists are warning that around 30,000 jobs may have been lost in March, with Michael Blythe, chief economist at Commonwealth Bank research predicting the unemployment rate will rise once again. “The consensus is for a […]
