News

The ACT has topped the table in CommSec’s latest State of the States economic rankings report, while NSW dragged its heels, coming in last.

Employers and job candidates are being advised to make the most out of a strong January jobs market, as job vacancies surged 6.5 percent over December, IPA data reveals. The pace of employment growth accelerated in December, with the latest monthly data from IPA, one of Australia’s largest recruitment firms, showing job vacancies increased 6.5 […]

Retail sales remained strong in November, despite rising interest rates, latest ABS figures show. Retail sales grew 1.4 percent in November, the strongest monthly rise since March 2009. ANRA CEO Margy Osmond said strong November retail figures shows spending may be starting to realign with consumer confidence. “Up until now we’ve seen confidence lift and […]

Major policy initiatives implemented by the Federal Government in recent months will have a major impact on small to medium enterprises (SMEs), according to a respected accounting and advisory firm. Marc Peskett, partner of Melbourne based firm MPR Group, believes some major policy initiatives will have a significant impact on businesses for 2010 but will […]

Google has stepped up its efforts to trump Apple in the smartphone market, with the launch of what is being dubbed a ‘super phone’ in the US last week. Google’s Nexus One is an HTC-built phone using Google’s own mobile software platform, Android and boasts similar features to that of the Apple iPhone. It is […]

The economic woes of 2009 are a thing of the past and 2010 is a time for Australian small and medium businesses to capitalise on the opportunities presented by a strengthening economy, according to Westpac’s general manager of SME segment, Sian Lewis. “The New Year is a great time to take stock and prepare your […]

Despite an abundance of gadgets available, consumers are turning to traditional presents this year, with a new survey revealing the humble book will be the most popular present under the Christmas tree. Figures released by the Australian Retailers Association (ARA) reveal consumers are more likely to buy a book as a gift this year than […]

Shoppers are expected to fork out more than $8 billion on food and liquor this festive season, IBISWorld forecasts. IBISWorld analyst Raghu Rajakumar said shoppers were snubbing specialised food outlets to get a cheaper version of Christmas goodies at the supermarket, with the food bill tipped to hit $8 billion. Woolworths and Coles are expected […]

As house prices continue to rise, first home buyers have been searching for cheaper homes away from city centres, a new survey shows. Research by Bankwest-Mortgage and Finance Association of Australia (MFAA) found that of the 850 people surveyed, 47.9 percent of first time buyers are now looking to purchase a cheaper property than they […]

NSW shoppers have been spending up big this Christmas in comparison to last year, official Australia Bureau of Statistics data reveal. NSW shoppers have spen an extra $12 million per day compared to last year – a 10.2 percent increase. NSW Treasurer Eric Roozendaal said in a statement on Wednesday that he was confident retailers […]

Treasury secretary Ken Henry’s proposed tax reforms will help to strengthen the economy in the long term, according to a prominent business lobby group. Australian Chamber of Commerce and Industry chief executive Peter Anderson said the Federal Government has a once-in-a-decade opportunity to make sweeping changes in a major reform of the tax system, claiming […]

House prices are tipped to grow about five or six percent in 2010, according to some of the nation’s top housing analysts. Australia’s house prices grew 6.2 percent to September 2009, the latest Australian Bureau of Statistics data reveal, while investor demand and upgrader demand picked up in the last few months of 2009. BIS […]

Members of Generation Y are finding it hard to be accepted for a home loan as a result of their job-hopping tendencies, a new report has found. Data collected over the last six months by mortgage broker Loan Market Group found that more than one in 10 mortgage applications from the Generation Y age group […]

Rumours are abound that the Australian tax system is set for a major overhaul, after Treasury boss Ken Henry spent 18 months reviewing the current system. According to reports, Henry is expected to recommend the Government scrap many of its 125 taxes, which could see wealthy Australians lose lucrative tax breaks covering work expenses, and […]

Australia’s superannuation funds seem to have recovered from the global financial crisis and are on track for further growth in 2010. Research consultants SuperRatings say the median balanced super fund option grew 1.3 percent in November, the eighth positive monthly return in the past nine months. Managing director Jeff Bresnahan expects total returns for calendar […]

Despite climate change talks in Copenhagen being branded a ‘failure’, Climate Change Minister Penny Wong has vowed to press ahead with the Government’s emissions trading scheme (ETS). Senator Wong said Australia must take action to build on the outcome of the climate summit and will press ahead with plans to reintroduce the ETS legislation in […]

Christmas trade will be well below the expectations of Australian retailers this year, according to the executive director of the Australian Retailers Association, Russel Zimmerman. Zimmerman said that shoppers will spend almost $39 million this Christmas, but will be more cautious with their money. “We think the Christmas trading will be up but we don’t […]

A rise in first home owner grants along with skyrocketing motor vehicle sales has helped to boost the NSW economy, according to state Treasurer Eric Roozendaal. The latest ABS figures released on Monday, reveal motor vehicle sales raced to their highest level in 17 months, with a total of 85,943 vehicles sold across the country […]

The next four days will be extremely busy for retailers, with 65 percent of Australians admitting they either haven’t started or are yet to finish their Christmas shopping, the Australian National Retailers Association said today. A survey of 1,000 people conducted late last week found that only 35 percent had fully completed their shopping, 29 […]

Australia Post has claimed that the postie strike scheduled for this week should not affect the delivery of Christmas mail.