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27SEP2021-MON
CBA to automate least cost routing for SME merchants; lower merchant fees
Monday 27th September 2021
Funding roundup September 20 – September 24:
:Different raises $25m and partners with CommBank
Flippa raises $15m Series A
Australian Ethical launches ethical multi-asset high growth funds
CARS24 raises US$450m, valued at US$1.84b
Airwallex secures US$200m Series E funding round
Atmo Biosciences secures $9.6m
Victorian construction shutdown will have long term impacts
Throughout the pandemic, construction has been of the few industries for whom work has stayed relatively unchanged. Now, as Melbourne construction work grinds to a two-week halt, Dan Pollard, veteran tradie and founder of Fergus, a software provider for trades and service businesses said Victoria will feel the effects for a long time to come.
CBA to automate least cost routing for SME merchants; lower merchant fees
The Commonwealth Bank of Australia (CBA) announced that transactions between Eftpos and international schemes like Mastercard and Visa would be automated using the least-cost routing method (LCR), making it one of the first major banks to commit to automatically routing transactions for small business merchants.
Overcoming business obstacles like a Ninja
If starting a business and making it successful was easy, everyone would do it. And it doesn’t happen overnight. There are constant obstacles along the way and the pandemic continues to throw additional challenges in the mix. As if life for an entrepreneur wasn’t turbulent enough!
Managing remote employees through a lockdown: Tips for Employers
As the COVID-19 outbreak and subsequent lockdowns continue, many employers and their staff have been forced back into remote working for the foreseeable future. While this has become common practice, there are still a number of steps employers should take to ensure their business can run smoothly.
Digital succession planning creates a smooth transition when selling
One of the first steps a potential buyer will take when looking at an existing business is checking its presence and customer sentiment. This can be done through a simple online search – looking at Google search ranking and reviews, the quality of the website, the level of social media presence and engagement.
Australians may face food shortages and see certain products disappear from shelves when NSW and Victoria reopen. The Australian Food & Supermarket Council (AFGC) has cautioned that the impact on grocery supplies might be similar to what is now happening in the United Kingdom. Australia is experiencing a rapidly deteriorating supply chain crisis, which is affecting not only supermarkets, which have seen shortages of bread, milk, chicken, bottled water, and soft drinks, but has also caused shortages in fast food outlets, and online grocery orders full of substitutions.
Hornsdale Power Reserve (HPR) is being sued by the Australian Energy Regulator for failing to keep its pledges to assist the South Australian power grid in an emergency. The Tesla Big Battery, the world’s largest lithium-ion battery, is owned by HPR. The 150-megawatt battery was kept on standby to inject electricity into the grid quickly in the event of a major power plant or transmission breakdown. However, the regulators claim that HPR failed to provide this service in the case of a significant Queensland coal plant collapse in 2019.
The possibility of one of China’s largest developers collapsing has rattled global markets. However, the fear may be more about the broader implications on the world’s second largest economy, which was already declining. Slower growth has been linked in part by Chinese officials to Covid-19 outbreaks and flooding, which prevented people from travelling. Economists, on the other hand, are more convinced that the loss of momentum will continue.
After the BBC discovered domestic “slaves” for sale on applications including Instagram in 2019, Apple threatened to ban Facebook’s products from its App Store. The threat was revealed in the Wall Street Journal’s (WSJ) Facebook Files, a series of reports based on the newspaper’s review of internal Facebook papers. Facebook says it prohibits human exploitation “in no uncertain terms”.
Sony Corp’s Indian subsidiary, Sony Pictures Networks India, has agreed to buy Zee Entertainment, a 30-year-old homegrown private television entertainment pioneer that operates in English, Hindi, and a variety of other Indian languages. Zee Entertainment has been dealing with an internal governance crisis, with the company’s largest shareholder, Invesco, pressing for the resignation of current CEO Punit Goenka. In recent days, numerous Zee shareholders have also demanded that Goenka and other top executives be fired.
