July sees unemployment rise: 3.7%

Latest business news and stories

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This weekly feature from Dynamic Business runs down the week’s top funding rounds from Australia and India.

Office values have declined dramatically in other jurisdictions and it’s difficult to see how local investors can remain immune to the carnage, writes Peter Rose, Director, Forbury.

With employment falling by approximately 15,000 individuals and unemployment rising by 36,000, the unemployment rate reached 3.7% in July.

50% plan to increase investments next year among individual investors, per CA ANZ Survey.

Will Kiln, the innovative CEO and founder, talks about starting Salt & Lime, a responsible debt consolidation company.

Whether an investor, business owner, or seeking financial acumen, these strategies steer you towards tax efficiency and success.

Here’s how SMEs can derive value from AI with a practical framework to do so safely and ethically.

The Accelerator for Women Enterprise’s Kickstarter Challenge has been launched with a substantial prize pool of $60,000.

Top stories

The Reserve Bank of Australia has given major banks and payment service providers until June 2024 to increase merchant uptake of least-cost routing, or face possible regulatory action. Least-cost routing allows merchants to choose their preferred payment pathway, potentially saving them significant transaction fees.

Unloan, the digital mortgage startup owned by CBA, is facing accusations of unfair workplace practices from a former staffer who claims he worked excessive hours and was made redundant after complaining to HR. The case raises questions about work-life balance in the startup world.

Australia

The Australian retirement income covenant has left super fund trustees ill-prepared for the impending "silver tsunami" of retirees. As retirement assets grow, capital markets and the financial system must adapt.

WA senator Michaelia Cash fired up the crowd at a No campaign launch, criticizing companies like BHP and Wesfarmers for donating to the Yes campaign and arguing that Australians should make the decision themselves.

Australian economy

If you're wondering why wage growth is making headlines in Australia, it's because it could be the key to avoiding a recession. Find out why the Reserve Bank's focus on low wages may have been a mistake.

World

China's decision to stop publishing figures for youth unemployment is raising concerns about transparency in the country's economy. China's economic data has been increasingly withheld since Xi Jinping came to power, making it difficult for investors to assess the true state of the economy.

The Chinese government has suspended the release of youth unemployment data as rates continue to climb. The decision has sparked concerns among investors and executives about government control of information in China. The growing struggle for young people to find work highlights broader concerns about the country's economy.

Federal Reserve officials are cautious but not declaring victory over inflation, as they stress that it remains "unacceptably" high and could prompt further interest rate hikes. Investors are questioning whether borrowing costs will rise again given recent inflation cooling.

Tech

The debate over copyrighting AI-generated art continues, with a federal judge ruling that such works are not protected by copyright law. This poses a challenge for artists and raises concerns about the future of creativity.

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In a world where business survival rates are slim, entrepreneurs rejoice as they secure new clients. Discover how to navigate the treacherous waters and avoid nightmare clients.

Learn how to navigate the hiring process with ease and efficiency. From crafting enticing job titles to running background checks, our comprehensive guide has you covered every step of the way.

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