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04AUG2021-WED (spam test - glockapps)
What the RBA’s latest monetary policy announcement means for small business
Wednesday 4th August 2021
What the RBA’s latest monetary policy announcement means for small business
Today the Reserve Bank of Australia (RBA) has said that the cash rate will remain at 0.10 per cent and is expected to remain at this rate until 2024. The RBA also revealed it would continue buying government bonds at a rate of $5 billion a week until early September. This policy is designed to boost the Australian economy and give businesses a helping hand.
India: A vast and vibrant export market
As the world’s largest democracy, one of its fast-growing economies, and with a population of 1.3 billion people, India is a difficult market for Australian exporters to ignore.
SMEs continue to feel a COVID-19 sting: New ACA research
As COVID-19 outbreaks and lockdowns continue, so does the stress for small and medium enterprises.
Square to buy Australia’s Afterpay for $39 billion in an all-stock deal
Jack Dorsey’s Square has agreed to acquire Australia’s Buy Now, Pay Later (BNPL) giant Afterpay in Australia’s largest buyout deal, valued at about $39 billion (US$29 billion). Afterpay’s BNPL service allows customers to spread the cost of their purchases over interest-free instalments.
Dispute resolution: A practical alternative to costly litigation
Any organisation that has suffered the experience of litigation will have an intimate understanding of the potential costs involved – not just in terms of hard costs such as legal expenses, but other costs such as damage to relationships, reputations and lost commercial opportunities.
According to CoreLogic’s national house value index, property values in Australia climbed by 1.6 per cent in July, but there are signs that growth is slowing.Housing values have risen 14.1 per cent in the first seven months of the year and 16.1 per cent in the last 12 months as a result of the current increase.CoreLogic research director Tim Lawless described the market as strong but losing steam.The rate of increase in home prices has eased in each of the major cities, with the biggest drop being witnessed in Sydney
NSW farmers who have been dealing with a devastating mouse plague for nearly a year can now get up to $10,000 for the zinc phosphide they are using to kill the rodents.The rodents have been devouring crops and cutting a destructive swathe through properties for 11 months in the state’s west and south.Deputy Premier John Barilaro said zinc phosphide rebates are now available as part of the government’s $150 million mice support package.Farmers who are laying defences against a spring surge in mouse populations can now claim the rebate which will cover 50 per cent of the cost of zinc phosphide baits, up to $10,000.
Government support programs for airlines including cheap tickets have been extended as states deal with new outbreaks of COVID-19 cases.The half-price flights program is being extended to November 30 for both sales and travel, to ensure travellers impacted by lockdowns or border closures can access tickets and benefit key tourism regions.In addition, the Domestic Aviation Network Support and Regional Airline Network Support programs which were due to end in September will now run until the end of the year.
U.S. manufacturing activity grew at a slower pace in July for the second straight month as raw material shortages persisted, though there are signs of some easing in supply-chain bottlenecks.The survey from the Institute for Supply Management (ISM) showed a measure of prices paid by manufacturers fell by the most in 16 months. The supplier deliveries index retreated further from a 47-year high touched in May.
Facebook’s acquisition of U.S. customer service startup Kustomer may hurt competition and boost its market power in online advertising, European Union antitrust regulators warned as they opened a full-scale investigation into the deal.The move by the European Commission comes amid regulatory concerns that a buying spree of startups by big firms may be aimed at closing down nascent rivals.
The China Securities Regulatory Commission (CSRC) is seeking to improve communication with its counterpart in the United States regarding the requirements for Chinese companies to go public on American bourses.The spokesperson said that CSRC remains open to Chinese companies choosing international and domestic markets to list as long as they are in compliance with laws and regulations.
China’s seemingly impregnable COVID-19 firewall is springing leaks, with the country logging more local cases in 20 days than in the previous five months combined. At least 15 of the nation’s 31 provinces have confirmed Delta strain infections over the past two weeks, marking China’s biggest outbreak this year. The disease’s spread is believed to have started from a foreign flight at Nanjing’s airport in early July.The National Health Commission (NHC) said 328 cases have been reported since last month, including in the central city of Wuhan, the original epicentre of the global pandemic.
Despite the fact that India was hit by a devastating second wave of the COVID-19 pandemic, which has taken a huge toll on the economy, it’s been a fantastic year for stock market investors. The capital markets remained positive and reached new highs this fiscal year. Equity investors have witnessed a wealth addition of more than US$ 416 billion in the first four months of the current fiscal year, Press Trust of India reports.
Iron ore prices have dropped under US$200 a tonne for the first time since May as Australia’s biggest buyer China threatens to reduce its orders while diplomatic relations between the two countries remain frosty.The price of Australia’s most valuable export commodity slumped by 3 per cent to US$195 a tonne, with concerns China is accelerating measures to reduce its dependence on Aussie iron ore.Chinese policymakers have flagged a move to cut its steel outputs in the second half of this year, partly to reduce carbon emissions.
Sky News Australia said it has been temporarily suspended by the video-sharing site YouTube following the platform’s review of content for compliance with its COVID-19 policies.The 24-hour cable and television channel, which claims to have 1.85 million YouTube subscribers, is operated by the Australian News Channel and is a subsidiary of News Corp Australia. YouTube confirmed the suspension.
Amazon faces a record-breaking €746 million (about $887 million) fine after a European Union data privacy regulator said the e-commerce giant had violated the bloc’s signature privacy law in an advertising-related decision. The fine is the largest in the law’s three-year history, followed by Google’s 2019 fine of €50 million.Regulators said Amazon’s processing of personal data didn’t comply with GDPR requirements, and the company acknowledged it has been ordered to change its business practices.
Chinese ride-hailing giant Didi has denied a report that it was considering going private to appease Chinese authorities. Its shares had soared by almost 50% last week after the Wall Street Journal report. Since making its US market debut a month ago the company has been targeted by authorities in Beijing.Meanwhile, some US senators have called on its financial markets regulator to investigate Chinese share listings.
Zoom Video Communications agreed to pay $85 million and bolster its security practices to settle a lawsuit claiming it violated users’ privacy rights by sharing personal data with Facebook, Google and LinkedIn, and letting hackers disrupt Zoom meetings in a practice called Zoombombing.Subscribers in the proposed class action would be eligible for 15% refunds on their core subscriptions or $25, whichever is larger, while others could receive up to $15.Zoom agreed to security measures including alerting users when meeting hosts or other participants use third-party apps in meetings and providing specialized training to employees on privacy and data handling.id:2021-08-03-12:38:41:762t
China’s securities regulator said it will seek closer cooperation with its U.S. counterpart and will support overseas listings after U.S. regulators tightened disclosure for Chinese companies and voiced concern about Beijing’s regulatory actions.The China Securities Regulatory Commission (CSRC) said in a statement that it had taken note of the U.S. Securities and Exchange Commission’s (SEC) new requirements for disclosure regarding Chinese companies’ listings and that the two sides should “uphold the spirit of mutual respect”.
