News
The big banks have defended their position on interest rates, with the Australian Bankers Association claiming that the banks should be allowed to ramp-up pricing on loans, or hold onto further interest rate cuts to bolster profits in the face of a slowing economy. The comments are likely to cause outrage with industry groups and […]
Households have suffered their worst loss of wealth in almost 50 years, according to Analysing Treasury data. The economy is deteriorating at a faster pace than in the previous recession, and consumers are feeling the pinch with wealth held in property, shares and other assets falling nearly 12 percent in the past year. The data […]
The media coming out from the USA is known to be full of scare mongering and sensationally presented stories bordering on the ridiculous. It was no surprise to me then, when watching 60 minutes this Sunday night they included a report from CBS news about a new computer virus that has invaded the world’s computers […]
The Reserve Bank of Australia’s head of financial stability deparment, Luci Ellis believes that the global economy will only recover once the credit supply and the world banking systems are “restored from their sick beds.” In an speech at the Victoria University of Technology conference ‘Australia in the global storm: A conference on the implications […]
Microsoft and Yahoo are in talks of a possible search engine partnership, in order tackle their ever growing competitor Google. The two technology giants are currently in talks to join forces, in order to boost the popularity of the two flailing search engines. The news comes as the latest ComScore figures have shown that Microsoft […]
A senate inquiry into the Federal Government’s emissions trading scheme has begun today, called by the Greens and Coalition to examine the design and effectiveness of the scheme. The Greens have long opposed the Government’s emissions trading scheme, believing the plan would, “undermine existing policies to move Australia to renewable energy, energy efficiency and clean […]
News Corporation chairman Rupert Murdoch announced on Tuesday, a new unit that will allow for the sharing of content and resources across his media empire. This will include his various newspaper, magazine, online and television holdings across the US, UK and Australia. In a statement, John Moody, executive vice president at the FOX News television […]
Despite the collapse of the global economy, campervan hire company Jucy Rentals has maintained a strong hold over the Australian market, with continued growth and an annual turnover of more than $20 million in the year 2008/09. With the travel industry on the decline, and latest figures released by the ABS showing room occupancy of […]
In positive news on the stock market, the Australian dollar has rebounded, with a six-month high of 73.20 US cents. The Australian dollar has been on the decline since the global financial crisis hit home, but has rebounded in the past week, holding firm against the $US and the Japanese Yen. Business conditions have also […]
Global financial industry group The Institute of International Finance (IIF) has called on the International Monetary Fund (IMF) boost funds to aid the global economy. The IIF has called on IMF to “put into place the resources that have been committed (by the G20)” in order to deal with the deteriorating world economy. The call […]
New research released by the ABS has found that the economy is still struggling, with lending for small business dwindling. The ABS reported a small rise in lending for housing, which was dominated by first-home buyers, but lending to business fell by 14.7 percent to a 42-month low in February. The figures show that businesses […]
The Rudd Government’s proposed $43 billion National Broadband Network has come under fire in recent months from the Opposition, along with a number of industry groups; however, new research has shown that the majority of everyday Australians have given the Rudd Government the green light, backing the plan. Essential Research’s weekly survey found that 54 […]
Malicious activity on the internet continued to grow at a record pace in 2008, according to Symantec’s Internet Security Threat Report Volume XIV, with hackers employing more sophisticated techniques to steal consumer information.
Official interest rates fell once again this week, which is great news for those with home loans, but if you are a self funded retiree you are most likely suffering in the current low interest rate environment. As we all know self funded retirees get little support from the government, yet these are the people […]
Twitter users were left confused over the weekend, when a computer program, known as a worm, barged into Twitter’s network displaying unwanted messages on infected Twitter accounts, urging users to visit a Twitter knockoff site StalkDaily.com. According to Twitter co-founder Biz Stone, the worm was designed to automatically reproduce itself once its links were clicked […]
Webtrends, global analytics leader, have announced a new partnership with social media monitoring service Radian6, in order to help Webtrends customers better understand social media, and engage with their customers through the online space. The Webtrends Social Measurement, powered by Radian6 allows businesses to listen, share, learn and engage their customers across the social web […]
ABS figures have shown that the jobless rate has risen to 5.7 percent, and the worse hit state has been Victoria, with research showing one-in-12 households have lost jobs in the past three months. Market research conducted by consultancy CoreData has shown that 8.2 per cent of Victorian households have someone who has been affected […]
As the economy shrinks further into recession, Australian airline Qantas has revealed it will remove 500 management positions along with an additional 1,250 full time positions. The airline has also slashed its full year pre-tax profit outlook to between $100 million and $200 million, down from its previous forecast of $500 million. Qantas’s chief executive, […]
The Australian Conservation Foundation (ACF) is urging consumers to think wisely about how they spend their $900 stimulus payments, encouraging all Australians to put it towards a greener economy. In an effort to stave off unchecked consumption, the ACF is encouraging consumers to think about using their money to tackle the ever looming problem of […]
The hotel and tourism sectors have been hit hard by a weakening economy, as demand for beds falls. Consumers are choosing instead to save their money and stay home, with the latest Tourism & Transport Forum’s Capital City Accommodation Index revealing that hotel occupancy levels in all capital cities are down. Ross Beardsell, the senior […]
