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18AUG2021-WED
How carbon tariffs will affect Australian businesses: Ai Group report
Wednesday 18th August 2021
How carbon tariffs will affect Australian businesses: Ai Group report
Dan Tehan, Australian Trade Minister, has attacked carbon tariffs as “Just another form of protectionism”. But what do these tariffs mean for Australian business? As many nations step up their climate commitments, Australia may be left behind if it does not take action. A report by the Australian Industry Group found that carbon tariffs currently pose little risk to Australian industry. Innes Willox, Chief Executive Ai Group, said, “Carbon border adjustments are not an imminent threat to Australia and could be an important opportunity if we get on the front foot.”
Equiano: The journey from corporate life to passionate business owners
Dynamic Business sat down with co-founders of small business Equiano, Marylou Verberne and Clare Harding to talk about their move from the corporate world into an innovative small business. Equiano delivers a horse-based experiential learning experience. Their half-day and full-day programs are designed to help workplace teams develop leadership, teamwork and EQ skills to take back into the workplace. There is no riding involved, and all activities are on the ground. Rather, teams work together with specially trained horses to build the “soft skills essential for successful leadership and high-performance teams”.
Four best practices to manage your hybrid team
For many of us, work is settling into a hybrid work reality. Currently, three in ten Australian businesses allow staff to work remotely and, of those, the majority (80 per cent) expect it to continue long term.
According to a study conducted by the state’s leading industry group, over half of Victorian businesses want mandatory COVID-19 vaccination as a condition of employment. According to a study done last week by the Victorian Chamber of Commerce and Industry of approximately 1600 enterprises, 45 per cent of businesses favour the proposal, while another 29 per cent support compulsory vaccination for some professions. The announcement comes after the state recorded 22 new local cases and extended its existing lockdown for another two weeks.
The country’s largest bank predicts that the Delta outbreak will result in an increase in loan deferrals and cautions that businesses will want concrete answers about when lockdowns will be lifted. The Commonwealth Bank’s retail and commercial branches have both expressed concerns about the mounting financial pressures on the economy, while more than half of the population is affected by shutdowns. In light of the lengthy lockdowns in NSW, CBA’s retail banking chief Angus Sullivan stated that about 2000 repayment deferrals across the mortgage and personal lending were being lodged with the bank each week.
China’s attempt to restrict steel production might have an impact on Australia’s burgeoning building industry, with increased prices hitting the crucial material used to build houses as well as supply issues. According to sources, Beijing is also intending to levy additional duties on steel imports, which would drive up prices even higher, making many Australian importers wary of doing business with China. It comes as Chinese businessmen seek to protect themselves from cost overruns by incorporating new clauses into contracts with Australian importers that would hold them liable for any future tariffs paid.
The board of Sydney Airport is attempting to extract more money from a group of investors bidding for the valued asset, rejecting a sweetened $22.8 billion offer but stating it will engage if a larger proposal is made. However, as a sign of the target’s board’s difficult balancing act, the target’s largest shareholder, UniSuper, has increased the pressure by saying the amended bid was a reasonable offer and that the board should talk with the bidders.
Following a series of collisions involving Tesla models and emergency vehicles, US auto safety officials launched a formal safety investigation into Tesla Inc’s driver assistance technology Autopilot.
Blue Origin, Jeff Bezos’ company, has filed a lawsuit against the United States government over NASA’s decision to award a $2.9 billion lunar landing contract to Elon Musk’s SpaceX.
Prime Minister Narendra Modi unveiled a $1.83 trillion infrastructure plan. The strategy, dubbed “Gati Shakti,” aims to expand manufacturing and increase jobs, however, specifics have yet to be published.
Retail sales and industrial production in China slowed in July, according to official statistics, with a rebound in COVID-19 weighing on demand and recent rains disrupting businesses. The world’s second-largest economy recovered quickly from last year’s COVID-19 pandemic, defeating the virus through mass testing and rigorous lockdowns. However, a nationwide flare-up caused by the Delta variation has jeopardised the good news about growth by resuming localised lockdowns and imposing stringent travel restrictions.
To address the growing threat from fintechs, the Commonwealth Bank of Australia (CBA) is planning to take on the critical mortgage sector, providing totally digital house loans that can be approved in as little as 10 minutes. As the CBA aims to utilise its technological power to consolidate its dominance, retail banking services group CEO Angus Sullivan said that the next battleground in the struggle with fintech would be mortgaged.
Owners of solar panels will soon face costs for exporting electricity to the grid. They might get a lower return on their investment. According to welfare organisations, it is a commendable initiative that will aid individuals who do not own solar panels.
A parliamentary committee has determined that New South Wales has long been reliant on the coal industry and requires investment and assistance in order to transition to a future based on renewable energy. According to the Committee on Environment and Planning, economic, environmental, and societal pressures are forcing a shift away from coal-fired power and toward renewable energy, and the transition “must be just.”
According to a filing, Tesla CEO Elon Musk received no income in 2020, although he did obtain stock options worth $22 billion during the year. Musk received no base compensation for the year.This is consistent with Tesla’s previous approach, however, in previous filings, Tesla indicated what Musk would have made if he had gotten California’s minimum wage. In 2019, that amounted to $23,760.
Airbnb had a record-breaking second quarter, with revenue nearly tripling and exceeding forecasts. However, the business also revealed some bad news: it is concerned about the Delta variant’s influence on consumers’ future travel plans. The company profited from more people taking vacations in the spring and summer, but Airbnb predicts that the next three months will be difficult.
T-Mobile is investigating a claim on an online forum post that says the personal data of over 100 million users have been breached, the company said.
Prime Minister Narendra Modi formally announced the National Hydrogen Mission putting a truly zero-carbon fuel – dubbed “green hydrogen” – at the core of India’s energy security and climate action, while also promising investors of policy support. In his Independence Day speech, Prime Minister Modi set a 2047 target for becoming energy self-sufficient through a combination of electric mobility, 20% ethanol-blending of gasoline, and developing city gas networks to increase the amount of less-polluting natural gas in India’s energy basket.
