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🦘 Big JobSeeker Updates, Netflix Bumps Up Prices, Lendlease Enters JV With American Private Equity Firm
In a new wave of updates announced in the 2024 Federal Budget, major changes are slated for millions of JobSeeker recipients. The government has earmarked a $6.4 million package spread over five years specifically to revise the mutual obligation requirements.
🦘 Unemployment Rate Surpasses Expectations, Pizza Hut Fined $2.5 Million, Health Organisation Hit With Cyber Attack
In a surprising turn of events, Australia's unemployment rate has climbed to 4.1% in April, surpassing economists' expectations of a rise to 3.9%. This marks the fourth consecutive month that the jobless rate has risen.
🦘 Woolworths’ $5,000 Giveaway, Macquarie Bank Ditches Cash, Small Businesses Feeling The Heat From The ATO
Get ready to stock your pantry! Woolworths is handing out a whopping one million Everyday Rewards points to a lucky shopper every day as part of their "Big Night In" promotion, running now through July 2.
🦘 Inflation Could Reach RBA’s Target by 2024, Spending Takes A Dip in April, ANZ Under Fire From Regulators
Aussie wallets snapped shut this April as families across the nation tightened their belts in anticipation of some much-needed budget relief. According to the latest dish from the Commonwealth Bank, spending slipped by 1% last month, marking a slowdown to a mere 2.6% growth over the past year.
🦘 Conflicting Priorities Ahead Of Federal Budget, Aussies Struggle With Credit Card Debt, Mortgage Stress Continues To Grow
As Treasurer Jim Chalmers gears up to deliver his third budget on May 14, economists are flagging that Australia’s stronger-than-expected employment growth might fuel further inflation.
🦘 Woolies Jumps Into 4 Day Work Week Budget Boosts Construction Worker Incentives Australia’s Peak Retail Bodies Merge
In a decisive meeting, the Reserve Bank of Australia (RBA) has opted to keep interest rates steady at 4.35%, resisting the mounting pressure to provide relief to borrowers grappling with the high cost of living. Despite the financial community's anticipation for a potential rate cut, RBA Governor Michele Bullock underscored the need for further data before considering any reductions.
🦘 Interest Rates Remain Unchanged, Senate Pushes For Legal Action Against Price Gouging , ANZ Bank Reports Profit Slide
In a decisive meeting, the Reserve Bank of Australia (RBA) has opted to keep interest rates steady at 4.35%, resisting the mounting pressure to provide relief to borrowers grappling with the high cost of living. Despite the financial community's anticipation for a potential rate cut, RBA Governor Michele Bullock underscored the need for further data before considering any reductions.
🦘 Qantas Facing $100 Million Fine, Bleak Outlook From Former RBA Governor, Optus Appoints a New CEO
Qantas Airways is set to pay approximately $20 million to over 86,000 passengers for flight cancellations between 2021 and 2023, as part of a settlement following a consumer watchdog crackdown. Additionally, the airline could face a $100 million fine pending a Federal Court decision, as proposed by the Australian Competition and Consumer Commission (ACCC) for violations of Consumer Law.
🦘 $3 Billion In Student Debt Wiped Out, Australian Savings Hit A New Record, Macquarie Group’s Profits Dip
In a significant move aimed at alleviating the cost of living crisis, the Australian government announced the forgiveness of $3 billion in student debt, benefiting over three million citizens. This decision, revealed by Education Minister Jason Clare, involves capping the indexation rate of the Higher Education Loan Program (HELP) to the lower of the Consumer Price Index (CPI) or Wage Price Index (WPI).
🦘 Small Businesses Facing Existential Threat, NAB Profits Take A Hefty Dip, Woolies Lags Behind Coles In The Supermarket Race
The gap between small and large businesses in Australia is widening, with small businesses facing a 20% increase in the risk of collapse compared to last year, according to credit agency Illion. Industries like hospitality, retail, construction, and transport are feeling the heat the most, struggling with delayed invoice payments and high operational costs.