News
The Tourism and Transport Forum has said that up to 29,000 tourism jobs could be lost as a result of the global recession. The tourism industry who directly employs up to 500,000 people across the country, could be hit hard if recent reports by Access Economics are correct. Access Economics latest Business Outlook report has […]
A high number of Sydneysiders are defaulting on their mortgages, as the unemployment rate continues to climb. One in 16 homeowners are defaulting on their mortgages, with the top area in NSW for mortgage defaults coming from Nelson Bay, north of Sydney, News Limited reports. According to a study compiled by University of Western Sydney’s […]
Qantas has signalled they may have to remove some business class seats from their flights, as profits drop amid the economic crisis. In an interview with Bloomberg Television, Qantas chief executive officer, Alan Joyce said, “ideally in the current environment, we wouldn’t have as many premium seats as we have.” The airline’s business class sales […]
Access Economics is predicting unemployment will soar beyond eight percent by the end of 2010. In its latest Business Outlook report, the economic forecaster said it expects close to one million Australians will be unemployed by late 2010, however the recession will be less severe in Australia than its counterparts. “There are key reasons to […]
Online retailer CatchOfTheDay.com.au is attempting to set a retail record, so to speak, by attempting to sell $1.5 million of Samsung LCD TVs online in less than 24 hours. With over 250,000 dedicated followers, the website is showing no signs of slowing in the current economy, as consumers jump online for cheap deals on various […]
It seems many Australians are attempting to restore their financial health in the current climate, by saving money and paying down debt. Veda Advantage’s latest Australian Debt Report reveals almost half of the Australians with debt surveyed owed less than they did 12 months ago, while only 13 percent of Australians with debt now owe […]
Yahoo! Search Marketing has today announced a search marketing initiative for small business, investing up to $24 million in the advertising activities of Australian small businesses, entitled the ‘BIG BANG’ initiative.
The banks decision this week to put up fixed term interest rates on mortgages has shown once again that they are more interested in profiteering than supporting the community.
Australian workers still on individual contracts are losing thousands of dollars a year, according to the ACTU, with the union body urging workers that they need an exit strategy from their Work Choices agreement. Despite Labour abolishing the Howard Government’s Australian Workplace Agreements (AWA’s), thousands of Australian workers are still locked into sub-standard pay conditions, […]
The World Bank and the IMF have said that poorer countries are being hit the hardest in the economic crisis, with the crisis turning into a “human and development calamity.” In a statement on Sunday they said that the crisis has already driven “more than 50 million people into extreme poverty.” A World Bank/IMF report […]
New research into the Australian franchise industry has suggested that franchisers are still dragging their feet when it comes to recruiting women and members of Generation Y as franchisees. The latest Franchisor Expansion Study by market intelligence organisation 10 THOUSAND FEET canvassed the opinions of over 100 Australian franchisers to determine the strategies used to […]
Amazon has joined Apple as another tech company surging in the financial crisis, reporting a 24 percent increase in profits in the quarter ending March 31. The company’s first-quarter revenue climbed 18 percent to $US4.89 billion, with cost-conscious consumers jumping online seeking competitive product prices. According to some analysts, Amazon has benefited from the downturn, […]
Federal politicians are set to receive $4,700 a year more in electorate allowances, amounting to $90 a week, three times the rate of what aged pensioners are calling for in regards to an increase to their pension. The Federal Government has flagged a mere $20 a week increase to the pension, expected to be included […]
A study conducted by InfoChoice, financial comparison experts, has found that consumers are losing interest in savings, short-changing themselves by more than $1 billion worth of interest in the past six months. According to InfoChoice, consumers are losing out by not shopping around to look for the best savings account with the highest interest rate. […]
The Federal Government’s stimulus package was always going to be a gamble, but was not expected to be taken so literally, with many Victorians gambling their cash handouts away. Victoria has seen a $30 million increase in spending on pokie machines in a month. In December last year, following the Government’s first stimulus package, pokie […]
Treasurer Wayne Swan has hinted at a possible boost to the aged pension in next month’s federal budget. The Federal Government is considering increasing the single aged pension by $20 a week, along with boosting unemployment benefits. Swan told Network Ten that the Government have recognised there is a problem with the current base rate […]
Prime Minister Kevin Rudd is set to ease the burden for households hit by the financial crisis, by providing help with their mortgages.
Dell Australia’s latest SMB survey has found that the majority of small and medium businesses are turning to online for information and advice on technologies that would benefit their business and improve efficiencies. The survey of 203 Dell Australia small and medium business customers found that 52 percent of respondents find reading about IT in […]
After heavy criticism of the Rudd Government’s handling of the economic crisis, the Federal Opposition have announced their own plan for economic recovery. In an interview with David Koch on morning program Sunrise, Malcolm Turnbull criticised the Rudd Government’s stimulus package, labelling the $900 payments as “cash splashes” and that the Government has not done […]
Following on from a bleak report from the IMF about the state of the Australian economy, Treasuer Wayne Swan said he can’t guarantee the jobless rate won’t hit double digits. Currently sitting at 5.7 percent, the unemployment rate is expected to soar as the recession hits, with the IMF predicting the unemployment rate will reach […]
