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Meet the founder on a mission to liberate Aussies from debt
Latest business news and stories
Maziar Foroudian
August 19, 2023
Latest Stories
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.
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 (LCR) before facing regulatory action. LCR allows merchants to process debit card transactions at cheaper fees, but new data shows low uptake among banks.
Australia Post has launched its new next-day delivery service, Australia Post Metro, to meet the growing demand for faster parcel deliveries driven by online shopping.
Australia
Private equity firms are increasingly attracted to professional services firms due to their recurring revenue from government agencies and financial institutions, as well as their capital light nature and low expenses. This trend is leading to the carving out of assets from big four firms, as private equity looks for a more streamlined and focused approach.
The recent support for AUKUS by the Labor party in Australia demonstrates the government's resolute stance. However, there is less focus on the significance of collaboration in defense technologies between the US, UK, and Australia, which is critical to national security.
The Australian Tax Office (ATO) has seen a rise in unpaid GST debt, despite claims that the "tax gap" for GST has been shrinking. The ATO has taken a tougher approach, initiating more wind-up proceedings and raising concerns about compliance. The projected rise in debt highlights the challenges in overseeing the GST revenue stream.
Australian economy
The Chinese economy is facing a downward spiral as the property bubble bursts and defaults loom. China's government must act as a lender and spender of last resort to prevent a severe crisis. China Evergrande Group has sought bankruptcy protection in the US, with debts six times greater than America's subprime property debt before the Lehman crisis.
In a surprising turn of events, the Australian Bureau of Statistics revealed that wages have been steadily rising, contradicting fears of an economic slowdown. Find out more about the implications of this unexpected development.
World
Elon Musk has donated $10 million to the University of Texas at Austin’s Population Wellbeing Initiative to further research on fertility rates and population dynamics. This reflects Musk's concern about the potential consequences of a declining global population, highlighting the need for effective policies to address this issue.
Tech
The era of PostScript Type 1 fonts is coming to an end, with Adobe and Microsoft phasing out support. Learn how this shift will impact users and what alternatives are available.
The FTC is expected to sue Amazon after investigating how the retailer treats sellers on its platform. In the midst of this, Amazon has decided to charge an extra fee to sellers who bypass their logistics services.
Spotify tried to cut off white noise podcasters making serious money on its platform, but consumer demand forced the audio streaming service to reconsider. Find out why in our latest article.
Curated for you
As Generation X nears retirement, the looming end of the student loan-payment pause threatens to disrupt their plans. With an average of almost $49,000 in student loan debt per borrower, the approaching deadline is causing financial strain and uncertainty.
Web 3.0, with technologies like blockchain and NFTs, is transforming PR. Brands can now build trust, tell stories through NFTs, create niche communities in the metaverse, and bridge virtual and physical realms. The future of PR is here, and the possibilities are limitless.
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