fbpx
News
  • August 6 2019 “Small Business Fair Dismissal Code does not work”

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has handed down a comprehensive review of the Small Business Fair Dismissal Code, recommending a suite of changes to help small business employers meet their obligations. “Put simply, the Small Business Fair Dismissal Code in its current form, is not working in the way it Read More…

  • July 31 2019 Regulators making lending hard: Westpac CEO

    Westpac chief executive Brian Hartzer says regulators risk behaving like referees who call tactics rather than fouls if they interfere unnecessarily in how banks do business. Eight months after appearing at the financial services royal commission, Mr Hartzer said he respected the role and purpose of the sector regulators including ASIC and APRA. But he likened Read More…

  • July 30 2019 Afterpay rival Sezzle sizzles on ASX debut

    US buy now pay later platform Sezzle (ASX:SZL) has started trading on the ASX following the completion of an oversubscribed A$43.6M Initial Public Offering (IPO). The Minneapolis-based tech company’s latest figures show the number of active merchants rose to 5,021 in June, a gain of 52% from the March quarter. By way of comparison, Afterpay said Read More…

  • July 30 2019 NAB hires Ferrier as chief people officer

    National Australia Bank has hired Susan Ferrier as chief people officer as the lender continues a leadership overhaul that already includes a new CEO. National Australia Bank has hired Susan Ferrier as chief people officer as the lender continues its leadership overhaul. Ms Ferrer will join on October 1 and replaces Lorraine Murphy, who announced her Read More…

  • July 29 2019 Cafe chain accepts loan from own CEO to turn around losses

    Former chair Mark Richardson and CEO Jason Gunn at Oliver’s listing Oliver’s Real Foods has accepted a loan from its founder and chief executive as its cash reserves approach what the cafe chain says will be a nadir.  Oliver’s on Monday said it had accepted an offer from Jason Gunn, whose 17.3 per cent stake Read More…

  • July 25 2019 Not enough women on ASX200 boards

    The AICD’s quarterly report on gender diversity shows female appointments to ASX200 companies’ boards has barely grown. An Australian corporate leadership body is questioning why women still do not make up 30 per cent of ASX200 companies’ boards, given the country’s vast talent pool of female directors. The Australian Institute of Company Directors’ quarterly report Read More…

  • July 24 2019 Bosses still reluctant to increase wages to retain staff despite increase in business confidence

    Business confidence is returning but a new survey shows many bosses still aren’t willing to lift wages to retain talented staff. Bosses at small and medium-sized businesses believe the economy is turning around after a year of plummeting confidence. But the new survey of chief executives also shows they expect wage growth to stay low, Read More…

  • July 24 2019 APRA orders three banks to meet stable funding requirements

    APRA has ordered Macquarie, Rabobank and HSBC to tighten funding arrangements to ensure funds cannot be withdrawn by parent companies during financial stress. Following a review of funding agreements across the authorised deposit-taking (ADI) industry, APRA notified the three banks that the reporting of their intra-group funding as stable has been in breach of the Read More…

  • July 24 2019 George Calombaris wage theft penalty ‘too light’

    Attorney-General Christian Porter says George Calombaris’ company received a “light” penalty when it was fined $200,000 for underpaying workers. Attorney-General Christian Porter believes celebrity chef George Calombaris got off lightly for underpaying his workers almost $8 million. Calombaris was last week fined $200,000 for ripping off his restaurant staff. “I think that that fine myself Read More…

  • July 22 2019 Super-low rates driving equities: AFIC

    Very low interest rates are making for “quite extraordinary times” in the share market, the Australian Foundation Investment Company’s investment boss says. Historically low interest rates will be the driving factor for equities going forward, the managing director of Australia’s largest listed investment company says. “These are quite extraordinary times at the moment,” Australian Foundation Investment Read More…

  • July 18 2019 Business confidence gets election bounce

    Business confidence continues to be bolstered by the coalition’s election win but NAB’s quarterly survey of companies shows conditions have deteriorated. Business conditions have continued to deteriorate and now sit below average for the first time in five years, NAB’s latest quarterly companies survey shows, but there has also been a post-election jump in confidence.  The Read More…

  • July 18 2019 Instagram removes ‘likes’ from platform

    Instagram users in Australia will no longer be able to see how many ‘likes’ a post has a received under trial changes to “remove pressure” on the digital platform’s users. Instagram will on Thursday begin rolling out the trial update removing the total number of likes on photos and viewings of videos on user feeds Read More…

  • July 16 2019 Ideal jobless rate ‘some time away’: RBA

    Reserve Bank of Australia board members agreed back-to-back cash rate cuts were necessary to eat into spare labour market capacity, but a high participation rate and an expanding working age population means it will take “some time” to achieve the ideal jobless rate.  Minutes from the RBA’s July 2 meeting show members agreed a consecutive Read More…

  • July 15 2019 NSW businesses better off by $8k per year thanks to new payroll tax cut

    Nearly 40,000 small businesses in NSW are now up to $8,175 better off per year following a second cut to payroll tax in 12 months. The payroll tax bracket was lifted from $850,000 to $900,000 on July 1, as the NSW Government progressively raises the threshold from $750,000 to $1 million by 2021-22. NSW Treasurer Read More…

  • July 11 2019 Several banks face action from ASIC over add-on insurances that have “failed customers”

    The financial regulator is threatening action against lenders including the major banks over the sale of add-on loan and credit card insurance (CCI) that “has consistently failed consumers”. An Australian Securities and Investments Commission (ASIC) report released today found that consumer credit insurance represented extremely poor value for money and was regularly mis-sold. ASIC’s report Read More…