News
Global litigation funding provider Therium Litigation Finance is funding a class action against Domino’s Pizza Enterprises, claiming the Australian pizza giant and its franchises systemically underpaid workers. Law firm Phi Finney McDonald alleges that most delivery and in-store Domino’s workers were paid less than they should have from June 24, 2013 through January 24, 2018. […]
Consumer confidence edged up marginally over the weekend as respondents felt optimistic about their finances despite gloom about the economy at large. The ANZ-Roy Morgan Australian Consumer Confidence index gained 0.1 per cent from the previous week, with respondents’ perception of the country’s current economic conditions – including the outlook for the next 12 months […]
A new report from Xero, the global small business platform, reveals for the first time the magnitude and impact of late payments to Australian small businesses, putting the value of outstanding, late payments at $115 billion a year. The research finds that half of all trade credit invoices are paid late and that solving the […]
CEOs from business, community and government will sleep on the streets of Sydney tomorrow night in an effort to raise money for the 116,000 Australians experiencing homelessness. It’s a record turnout for the 14th annual Vinnies CEO Sleepout, which aims to raise over $7 million nationally for accommodation, counselling, healthcare, food and other homelessness support services. […]
ANZ’s NZ chief executive has left the bank after an internal review raised concern among board members over his personal expenses. ANZ on Monday said David Hisco had accepted that “characterisation of the expenses falls short of the standards required” and had been replaced as ANZ NZ CEO on an interim basis by Antonia Watson. […]
Ms Soutsakhorn Chanthabouly (known as Nicole Khammenathy) of Carnes Hill, NSW has been convicted and sentenced after pleading guilty to charges related to illegal phoenix activity. Ms Chanthabouly was charged with one count of breaching her director duties and another count of destroying company records, following an investigation by ASIC. She was sentenced to a […]
The Reserve Bank of Australia has cut the cash rate to a new record low of 1.25 per cent in a widely anticipated attempt to stimulate the economy. It is the central bank’s first move on rates since August 2016 and follows another month of weak economic data, most notably an unexpected rise in the […]
RBA statistics for April recorded the slowest annual growth in credit for mortgages since the data was first collected in the late 1970s. The growth of lending to businesses flatlined in April while personal loans retreated for the seventh month in a row and annual property credit plummeted to unprecedented lows, central bank statistics suggest. The […]
The Fair Work Commission has decided on a three per cent increase in the national minimum wage from July 1. Australia’s lowest paid workers will get a smaller pay rise this year of three per cent, but the industrial umpire says it will help improve their living standards. The national minimum wage will rise by […]
The Coalition’s federal election win prompts us to reflect on their FY20 Federal Budget promises that piqued our interest. With Australian households spending over $73 billion each year on tradespeople and 250,000 trade businesses operating around the country, the sector represents an important economic contributor that deserves nurturing for continued prosperity and growth. So if […]
Prime Minister Scott’s Morrison’s new cabinet and broader ministry was sworn in on Wednesday at Government House in Canberra. Here are the key changes in the Morrison government: – Bridget McKenzie is Australia’s first female Agriculture Minister – Sussan Ley moves back into cabinet as environment minister, replacing Melissa Price – Ken Wyatt moves into cabinet […]
Nearly half (44%) of Gen Y (also referred to as millennials) small businesses have applied for finance in the last year and more than a third (39%) of those applications were declined. This is according to the latest findings from the MYOB Business Monitor. The report, which explores the state of play of 1,000 Australian […]
Australia’s tax agency says it can retrospectively deliver tax cuts if the coalition’s proposal doesn’t pass through parliament before the end of the financial year. But it remains to be seen if the tax cuts will pass parliament, with key crossbench senators still to pledge their support for the plan. Government senator Zed Seselja is […]
At a black-tie dinner recognising inspiring business women in Sydney’s Hyatt Regency last night, Natasha Chadwick, CEO of Queensland aged care facility, NewDirection Care Bellmere, was announced as the 2019 Telstra Australian Business Woman of the Year. Now in its 24th year, the Telstra Business Women’s Awards shine a light on women who have challenged […]
Scott Morrison plans to prioritise his promised tax cuts after he settles his new ministry line up, as the nation waits to see if the coalition gets a majority in the lower house. As counting continues on Monday the Liberal and Nationals were on 75 seats – two seats short of the 77 it needs […]
Consumer confidence fell last week as Australians’ perception of the economy at large took a sharp negative turn following the central bank’s decision not to cut the cash rate, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 2.1 per cent from the previous week, with the “time to buy a household […]
Uber priced its initial public offering at the low end of its targeted range to value the company at $US82.4 billion ($A118 billion), hoping the conservative approach would let it avoid the market chaos suffered by rival Lyft. Uber, the most high-profile US listing since Facebook seven years ago, raised $US8.1 billion ($A12 billion), pricing […]
Optus Business and Wholesale today announced it has selected Sophos, a global leader in network and endpoint security, as its main cybersecurity technology partner. “Our goal is to protect the data of small businesses at the points where it is most vulnerable – at the endpoint and through phishing and suspicious URL attacks that target […]
The March Quarter 2019 Sensis Business Index, released Tuesday 7 May 2019, reveals Australian small and medium business (SMB) confidence fell significantly across the country during the first quarter of the year as concerns about the health of the economy grew. The report, which measures SMB activity, expectations and confidence over a three-month period, found […]
Westpac chief executive Brian Hartzer says the bank’s first-half results are disappointing. Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion. Australia’s second largest bank set aside $617 million to cover refunds and associated costs following the financial services royal […]
