Finance News
Over the last 12 months Australia’s ski fields have been a significant contributor to economic growth, with the visitor economy soaring to $30 billion, reflecting growth of 20%. The double-digit rise from visitor and local spending across Victorian and New South Wales snowfields created the equivalent of more than 10,000 full time jobs. And yet, due to the…
The latest inflation figures are out and with inflation up 1.6% in June, I expect there’ll be no movement on interest rates by the RBA this month. But along with the inflation rate being up, new figures from the ABS show a sleeping giant that’s driving the cost of living and the cost of doing…
Shoplifting – or as it should be called, retail theft – costs Australian businesses $3.3 billion every year. That’s a staggering amount. And there’s very little business owners can do about it. I believe there’s been a shift in what people are stealing that has triggered this peak in retail theft. Previously, a crook would…
There’s nothing more Australian than chucking a sickie after a big day at the races or a massive grand final weekend. But the cost to employers is massive and debilitating. Employee absenteeism costs Australian business $44 billion a year. That’s around $3500 per worker per annum, or around $570 per sickie. 87% of employers believe…
Around 2:30pm last Thursday, businesses across Australia were crippled by yet another Telstra outage. This time it affected credit card payments, some bank accounts and EFTPOS payments. Customers were left unable to pay for their goods and services, and businesses were left out of pocket as they couldn’t take payments. Of course, the majority of…
Feeling a bit richer this week? Lots of people are, and that’s exactly how the RBA and the federal government want you to feel. When the RBA cuts interest rates once, nobody feels any different. But a double cut is a statement. Last week the double rate cut came through for the first…
At the stroke of midnight just a few hours ago, we put last year behind us and took our first strides into the future. Overall, I think FY2019 was a good year, with significant positive momentum since Christmas, and in particular following the federal election result in May. This is borne out by the numbers,…
Last week’s interest rate cut was the cut we had to have. And in my opinion it’ll be the first of two this year, with the second coming either in August or October. The cut should flow through to your accounts towards the end of the month, with each of the Big Four…
