News
The economy may be in need of festive cheer but the Reserve Bank board is not expected to lower the cash rate from its current record low 0.75 per cent until after the holiday season. The Reserve Bank board is expected to hold the cash rate at a record low 0.75 per cent this week […]
The big four banks – Westpac, CommonWealth, NAB and ANZ – are each participating in the federal government’s new small business growth fund. The fund is being established in order to address the need of Australian small businesses for cash in order to scale and expand, avoiding the very real potential of going further into […]
Approximately $6.4 billion has been wiped from Westpac’s value since it was ensnared in a money laundering and child exploitation scandal. Westpac says it will update investors “in coming days” over how its money laundering and child-exploitation scandal occurred and what it is doing to make sure it never happens again. Chairman Lindsay Maxsted said the board […]
WeWork is laying off about 2,400 employees, almost 20 per cent of its workforce, as the office-sharing company seeks to drastically cut costs after it transformed from a Wall Street darling into a pariah in a matter of weeks. The long-anticipated layoffs are the biggest move yet by Japanese technology conglomerate SoftBank Group Corp – […]
The Sensis Business Index shows more than a quarter (26%) of Australian small and medium businesses (SMBs) believe Federal Government policies are working against them. SMB confidence in the Australian economy has nosedived since Q1 2018, with 48% now believing it is at a standstill and 39% believing it is actively slowing. Thirty five percent […]
Australia’s gender equality watchdog has dubbed the latest annual pay gap score card as ‘disappointing’ with only small changes. New pay data for the private sector has been dubbed “disappointing” by the director of Australia’s gender equality watchdog. Men in the private sector were still taking home more per year than women workmates, according to […]
The Australian Taxation Office (ATO) today announced that it will grant a two month lodgment and payment deferral to taxpayers impacted by the recent catastrophic bushfires in New South Wales and Queensland. Acting Deputy Commissioner Andrew Watson said that people affected by the fires should focus on getting their other affairs in order and not […]
Catastrophic weather conditions including extreme heat, strong winds, and low humidity are forecasted for Sydney and its surrounding regions today – the first time the NSW Rural Fire Service has issued the maximum level of warning in ten years. While Australia can experience a variety of natural disasters and wild weather conditions, such as floods, […]
The confidence business leaders felt after the federal election seems to be fading away, as a new report shows bosses are losing faith that growth will pick up. A business leaders confidence index survey carried out by The Executive Connection shows a decline in expected economic growth, current perceptions of economic performance and overall business […]
In the lead up to the Christmas rush, many small to medium businesses will be looking for additional short-term labour to meet the extra demands placed on them. Now, with the launch of an innovative new employment program for people with disabilities, they can improve their bottom line while making a difference to someone deserving. […]
Commonwealth agencies will start paying suppliers within five days from next year, or face interest on late payments, as long as they use electronic invoicing. Faster payments to suppliers from commonwealth agencies will be a “game-changer” for the small firms involved, says small business ombudsman Kate Carnell. From January 1st, federal government agencies will start […]
Some of the biggest businesses in Australia will trial a series of eight principles around artificial intelligence, developed as part of the Morrison Government’s AI Ethics Framework. NAB, Commonwealth Bank, Telstra, Microsoft and Flamingo AI have signed up to test the principles to ensure they deliver practical benefits and translate into real world solutions. Minister […]
Virgin Australia says it will retire five ageing aircraft and reduce domestic capacity by two per cent in the first half of next year as it focuses on more profitable routes. Virgin also said it would suspend its Melbourne to Hong Kong flight from February 11, which has underperformed with recent protests in the former […]
The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, while keeping the door open for future cuts if the low cost of borrowing and tax cuts fail to stimulate the economy. Having delivered a third 0.25 percentage point cut in five months at its October meeting, the […]
The ATO’s heavy-handed manner of dealing with small businesses that allegedly owe taxes will be overhauled under a new scheme, according to The Australian. The Australian Taxation Office debt recovery system is expected to undergo a shake-up under a new scheme. Compensation owed to small businesses and taxpayers who have been wrongly or unfairly pursued […]
ASX200 companies TPG Telecom, Pro Medicus, NRW Holdings, Silver Lake Resources, Hub24 and Speedcast still don’t have a single woman on their board of directors. The percentage of women on the boards of Australia’s largest companies is falling rather than rising, with six ASX200 companies still operating with all-male boards. Women made up 29.5 per […]
Prushka Fast Debt Recovery, one of Australia’s largest debt recovery agencies, has released new data that shows there has been a slight decrease in company wind-up figures since the previous quarter (Apr-Jun), suggesting a more positive outlook on the horizon for Australian small businesses. The data is sourced from court records, and it reveals that […]
Liberal senator Hollie Hughes has launched a ‘Go Country for Christmas’ campaign to support drought-stricken regions. “We don’t need to buy from the usual suspects,” Senator Hughes said on Friday. “These businesses mainly exist because of the agriculture around them and when drought is devastating the land, we need to think laterally about other ways […]
The Victorian Small Business Commission’s (VSBC) Annual Report 2019 reveals a record 2,074 small businesses sought help in resolving their business disputes. The main issues causing disputes were: 1. Retail leases 2. Money that wasn’t paid 3. Understanding rights and responsibilities when it comes to contracts 4. The quality of goods and services 5. Goods […]
The RBA cut the cash rate to 0.75 per cent after board members failed to see any stimulatory effects from government tax cuts and its two previous reductions. The Reserve Bank’s decision to cut the cash rate to a fresh record low 0.75 per cent this month came after it failed to see stimulatory effects […]
