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The RBA’s November Statement on Monetary Policy revealed that Australia has fared better than expected but the recovery is “expected to be bumpy and uneven” and “highly sensitive to further virus outbreaks.” Although spending is still below levels seen prior to the pandemic, the RBA predicts that Victoria’s emergence from lockdown and policy measures such […]
As consumers demand more sustainable and ethical business operations, companies can now join forces and fight climate change collaboratively through Mastercard’s Priceless Planet Coalition. The Priceless Planet Coalition (PPC) unites merchants, banks, cities and consumers to plant 100 million trees by 2025. It is a platform where businesses can crystallise their sustainability goals and help […]
Australian fintech Verteva today announced it has rebranded to Nano and written its very first home loan via mobile, as it prepares to disrupt the mortgage industry. The company, run by two former Westpac execs, has also begun official beta testing and welcomed family and friends to experience its home loan product and platform ahead […]
While COVID-19 is changing the face of reality on a global scale, it is also bringing many Australians unprecedented financial struggles. Unfortunately, we are also seeing a rise in financial crimes and identity theft as scammers target Australian families, businesses and the Government to illicitly acquire proceeds from bank accounts and retirement savings to name […]
The CSIRO has released a new report The Value of Science and Technology that lists the five main barriers to innovation in Australia and the respective solutions that businesses can adopt to overcome these challenges. The main barriers identified by the report are: Declining innovation investment: investment into R&D innovation has been declining and is […]
The role of corporates and financial institutions will be instrumental in planning for and supporting economies and communities as Australia transitions from coal-fired electricity to a low carbon world, according to a new report. The report, Just Transition: Implications for the Corporate Sector and Financial Institutions in Australia, prepared by the Institute for Sustainable Futures […]
Parental Leave policy is something all businesses need to consider. While there are legal requirements for organisations to adhere to, there are extra steps that can be taken to separate one business from another and assist those taking care of children. However, these steps may come at a cost to the business. In today’s Let’s […]
‘Digital Transformation’ has been a buzzword for businesses for many years, but in the last six months it has been fast-tracked in a way none of us expected, thanks to the COVID-19 pandemic. Organisations of every size and shape have had to rethink the way they do business, whether it’s pivoting to launch a digital […]
Australian fintech Beforepay has today announced the successful completion of its AU$4 million Series A capital raise. The round, which closed in nine days and was oversubscribed, brings the total amount raised this year to over AU$6 million. The AU$4m Series A round was led by venture capital investor, Airtasker Chairman and Vocus Communications founder […]
In a digital address to the McKell Institute today, Shadow Minister for Innovation, Technology and the Future of Work Clare O’Neil warned of the “tsunami coming for workers in predominantly male industries.” In June, Ms O’Neil outlined how COVID-19 disproportionately affected women because of the havoc it wreaked on female-dominated industries such as hospitality and […]
Tax policy under a Biden presidency may facilitate more US investment into Australia than a Trump presidency, according to the United States Studies Centre. Biden has proposed raising the corporate tax rate from 21 per cent to 28 per cent, raising personal income tax for the top individual earners from 37 per cent to 39.6 […]
The Australian economy will lose more than $3 trillion over the next 50 years if climate change is not addressed, according to a new report from Deloitte Access Economics. The report titled A new choice: Australia’s climate for growth said if net-zero emissions policies are adopted by 2050 it could create 250,000 jobs and add […]
The Kwinana Refinery in Western Australia will be permanently closed and converted to an import terminal, as dwindling demand puts pressure on the fuel industry’s margins. “Regional oversupply and sustained low refining margins mean the Kwinana Refinery is no longer economically viable,” said bp Australia in a media statement on Friday. This closure follows the Federal […]
Research shows that products that use the Australian Made logo have an advantage in the international market, with 97 per cent of overseas consumers adopting a positive first impression of the logo. Ben Lazzaro, CEO of Australian Made, said that the iconic green and gold kangaroo has provided an effective way for shoppers around the […]
Australia is technically out of a recession however this does not mean Australia’s recovery will be smooth-sailing. At a Senate estimates hearing on Tuesday, RBA deputy governor Guy Debelle revealed that Australia’s economy grew in the September quarter. When asked about Victoria’s economy by Senator Bridget McKenzie, Dr Debelle surmised that Victoria’s economy appeared to […]
The world’s second and third largest economies, China and Japan, have both pledged to eliminate carbon dioxide emissions, heralding an economic era characterised by sustainability and renewable energy. Japanese Prime Minister Yoshihide Suga committed to carbon neutrality by 2050 in his first policy address to parliament earlier this week. “We will fundamentally shift our long-standing […]
With under a week until the 2020 US Presidential elections on Tuesday, 3 November, economists and investors are looking to predict the way various outcomes could affect Australian businesses. The US economy is the world’s largest economy, and Australia has a very close economic relationship with the USA. In 2016 alone, exports to Australia generated 264,000 […]
Businesses must invest in their online customer service as COVID-19 has driven up consumer demand for more virtual support. A LivePerson Customer Conversation Report found that 55 per cent of Australians said that they believed the online customer service of most companies could be improved. This includes providing more information online or having shorter hold […]
Diversity in the workplace is not only a pressing social concern, but is intrinsically tied to your business model. Having policies that are friendly to diverse backgrounds means that your ability to attract talent is greater, workplace culture is enhanced and you are more likely to outperform non-diverse companies. However women still only make up […]
A new study has shown that Australians are generally unwilling to sign off on wide-spread use of Artificial intelligence (AI), with less than a quarter of those surveyed approving of the growing technology. The study, conducted by the University of Queensland in partnership with KPMG, shows while 42 per cent generally accept it only 16 […]
