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Preventing employee neglect: Know your legal obligations
Latest business news and stories
Maziar Foroudian
August 07, 2023
Latest Stories
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Top stories
Australian shoppers are becoming increasingly cautious about their spending habits, leading some economists to declare a "retail recession." Retail turnover has declined for three consecutive quarters, with sales volumes falling for the first time since 1991.
Australia
Australian shoppers are becoming increasingly cautious about their spending habits, leading some economists to declare a "retail recession." Retail turnover has declined for three consecutive quarters, with sales volumes falling for the first time since 1991.
KPMG has been accused of overcharging and engaging in improper billing practices in its contracts with the Australian Department of Defence, according to whistleblowers interviewed by the Four Corners program. The allegations include charging for work not completed, proposing additional work already covered by existing contracts, and winning contracts through personal relationships. KPMG denies the claims and says it has found no evidence to support them.
Australian economy
Australian banks have shifted their approach to supporting struggling customers during the pandemic, opting for targeted assistance rather than mass loan-deferral schemes. Banks are using customer data to identify at-risk individuals and offer tailored solutions such as loan extensions or interest-only repayments.
World
Fitch Ratings has downgraded the United States' long-term credit rating to AA+ from AAA due to the nation's high debt burden and political brinkmanship over borrowing. This marks the second downgrade in the country's history and raises concerns about fiscal management.
Tech
In a bold move, Elon Musk, the self-proclaimed "free speech absolutist," has declared that X will cover the legal fees of anyone facing unfair treatment for their activity on his social media platform. With no limits on financial assistance, Musk aims to protect his users' rights to express themselves freely.
Facebook users may no longer feel safe posting anonymously after a court ruling in the Netherlands ordered Meta Ireland to unmask an anonymous user accused of defamation. The court's decision represents a shift in the balance between user privacy and accountability on social media platforms.
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