2024 employment law changes and how to navigate them

+ everything about overhauled banking code of practice

Author

Maziar Foroudian
July 15, 2024

Latest Stories

Understand the ins and outs of 2024's employment laws! Dive into our comprehensive guide that translates complex legislation into clear language, providing critical insights for both employers and employees.

Get ahead in the financial sector by leveraging AI! Join us as we explore the leading AI-driven financial analysis tools, offering unprecedented insights, predictive accuracy, and streamlined operations.

Are you a budding brand struggling for visibility? Get expert tips to leverage your story, social media, and targeted audiences for brand recognition, straight from a TV journalist turned business owner!

Xero celebrates its 18th milestone with the AUD$700,000 Beautiful Business Fund! Offering vital funding for small businesses or non-profits dreaming to pave sustainable, innovative or community-focused paths. Check out how you can bag your share!

Witness the impressive collaboration of Australian engineering and Indian manufacturing as they team up to turn Brisbane's Heat and Control into a global food equipment leader. Dive deep into this unique blend of talents and technology!

Explore the impending changes in Australia's Banking Code of Practice, focusing on renewed transparency and protection measures. The overhauled code is set to reinvigorate banking services for small businesses, facilitating their assertiveness and helping them navigate financial difficulties.

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Top stories

Small businesses across the US can benefit from various grant opportunities to help support their local economies. Recent rulings, regulations, and challenges faced by small business owners are detailed, highlighting the resilience and innovation within this sector.

Small and micro businesses are facing a crisis, with rising costs and consumer belt-tightening. To survive, SMEs must be vigilant, adaptable, and strategic, possibly considering mergers and acquisitions to weather the economic storm ahead.

Australia

Matthew Addison, chair of COSBOA, urges for a new small business strategy after reports show decreasing profit margins and low wages. Productivity in small businesses varies, with agriculture and construction excelling. Addison calls for government support for small businesses to thrive.

Fair Work Commission unveils draft ‘right to disconnect’ clause for modern awards, reflecting changes to Fair Work Act. Employees may ignore after-hours communication unless ‘unreasonable’, with protections against adverse action. Stakeholders have until August 1 to comment.

In Wellington, Sofoni West Soliman, a proud Wiradjuri woman, serves as a crucial link between doctors and patients at Keirle’s Pharmacy. Despite initial challenges, Sofoni’s perseverance and passion for her community inspire others to strive for excellence.

Australian Economy

Australia's transport sector must decarbonize rapidly to align with emission reduction targets and limit global warming to 1.5 degrees Celsius. Focusing solely on electric vehicles is not enough. Diverse solutions like mode shift and efficient freight movements are crucial.

Australia's transport sector must decarbonize quickly to limit global warming to 1.5 degrees Celsius. Zero-emissions vehicles, such as electric cars, need to reach 73% of new light vehicle sales by 2030 to achieve this goal. The focus should also be on diversifying solutions to reduce emissions effectively.

Financial market pricing suggests a Reserve Bank of Australia rate hike may be imminent. Inflation fears have dashed hopes for cuts, prompting questions about the bank's direction and potential impact on the economy.

World

American workers are experiencing a decline in annual wage increases, with job stayers seeing a 4.9% rise in June, the slowest growth since August 2021. Despite signs of slowing, job switchers are still experiencing tightness in the labor market.

The European Union accused Elon Musk's social media site, X, of breaching online content rules, allowing "verified" accounts to deceive users. The investigation under the Digital Services Act could lead to fines and changes in operations.

UK economy exceeded growth expectations in May, with a 0.4% expansion boosting the new Labour government. Despite uncertainties on interest rate cuts, positive trends in production and construction sectors signal a broader recovery ahead.

Tech

In a post-pandemic world, niche sites are losing visibility to user-generated content sites like Reddit and Quora. Google's new focus on authenticity and trust is reshaping SEO strategies. Brands are advised to start their own industry-specific forums for competitive advantage.

OpenAI is set to launch a new search product combining web search and language models. While still limited, ChatGPT is gaining traction with a record 2.9 billion visits and strategic partnerships with publishers. The future of AI search looks promising.

LinkedIn is set to launch Accelerate, an AI-driven campaign tool for advertisers globally. With potential benefits such as improved campaign performance and reduced time investment, B2B marketers should consider exploring this tool.

Curated for you

Barry Hott, Facebook ad expert, advises creating "ugly ads" that stand out and spark immediate interest. He emphasizes targeting, AI empathy, controlled testing, and creative authenticity.

Businesses in marketing find success with pay-per-call marketing, a new approach that focuses on direct phone leads. Software like Invoca, Ringba, and CallRail enhance these campaigns, while Phonexa.uk offers a comprehensive solution for managing affiliate programs.

First-time startup founders often feel pressured to secure funding, but choosing the right investor is crucial for long-term success. Look for shared vision, extensive networks, experience, transparency, and resilience in your first investors.

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