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Archive
🦘 Australia’s Worrying Personal Debt Statistics, P&O Cruises Shutting Down, New Bill Punishing Cash Refusal
A recent ASIC survey has sent shockwaves across Australia, revealing that a whopping 40% of Australians are battling with personal debt, sparking anxiety and stress among the nation’s young adults. This alarming report highlights the financial burdens on individuals aged 25 to 44, contradicting the expectations of stability associated with these prime working years.
🦘 Minimum Wage Boost Coming in July, Australia’s First Spot Bitcoin ETF, CEO Shuffling at Smiggle and Lovisa
Mark your calendars for July 1, folks! Around 2.6 million Australians on minimum and award wages are set for a pay rise, enjoying a 3.75% increase. This means a jump to a sweet hourly rate of $24.10, which adds up to $915.90 per week. Basically, one out of every four Aussie workers is about to see a bit more cash in their pay packet!
🦘 Guzman Y Gomez Goes Public, Perth Airport and Qantas Strike a $3 Billion Deal, HECS Repayment Changes In Effect
Guzman y Gomez, everyone’s favorite spot for Mexican eats, is shaking up the stock market with its latest announcement to go public. The company plans to sizzle on the Australian Securities Exchange (ASX) under the ticker symbol GZG. Here’s the hot sauce: they're issuing about 35 million shares—efficiently spicing up about 15% of their total capital.
🦘 Richest Aussies Get Richer, Australia’s Most Distrusted Brands, Ticketmaster Hack Leaves Millions At Risk
In a year underscored by cost-of-living pressures, Australia's richest seem to be doing just fine. The 2024 Financial Review Rich List reveals an eye-popping 11% increase in the combined wealth of the country's 200 wealthiest individuals, now towering at a staggering $625 billion.
🦘 Inflation Comes In Hot, Coles Slashes Prices, New Smartphone Scam Draining Aussie Bank Accounts
April was another wallet-squeezing month for Australians as the annual inflation rate ticked up to 3.6%, just a notch above the 3.5% observed in March 2023, as reported by The Guardian. Economists were betting on inflation to hover around 3.4%, but the actual figures released by the Australian Bureau of Statistics (ABS) have dashed those hopes.
🦘 Concerning Retail Sales Figures, CBA Launch Digital Home Loan Offer, Stockland Strikes Partnership With US-based Invesco
Aussie shoppers kept their wallets close in April, leading to paltry growth in retail sales as mounting borrowing costs and soaring rents made them think twice about spending. The latest data from the Australian Bureau of Statistics showcases a mere 0.1% increase in retail sales for April following a 0.4% decline in March, falling short of the anticipated 0.2% gain forecasted by analysts.
🦘 Lendlease Doubles Down On Australia, Aussie Companies Rev Up Green Investments, Rents Hit New Record Highs
Lendlease Group is shaking things up with a bold strategic pivot. Their latest move? Saying sayonara to international markets to double down on Aussie soil. Yep, that’s $4.5 billion getting recycled back into Australian opportunities.
🦘 Rapid Increase in Affordable Housing, Major Banks To Increase Fees, 2024 Workplace Wellbeing Index Findings
Developers in the Eastern Australia region are ramping up their efforts to meet the growing demand for affordable accommodations, particularly for essential workers. City West Housing has just scooped up a new site in Alexandria, Sydney, ramping up its $850 million affordable housing efforts, which include providing homes for around 1,600 residents.
🦘 Commbank’s $10K Home Deposit Scheme, Optus Gets Sued Over Data Breach, Power Bills Drop in Victoria
In an innovative move to tackle housing affordability, Commonwealth Bank (CBA), in collaboration with property tech platform Coposit, is revolutionizing the way Aussies can jump onto the property ladder. The new initiative allows potential homebuyers to lock in an off-the-plan purchase with just a $10,000 deposit, a stark contrast to the traditional 10% upfront requirement, which often reaches up to $160,000.
🦘 Woolworths Prioritising Customers Over Profits, Lendlease Chairman Exits, Aussies Aren’t Going To Spend Their Tax Cut Savings
In the heated lanes of Australia’s grocery aisles, Woolworths CEO Brad Banducci is making a bold pledge to prioritize shopper value over chasing hefty profits. This declaration surfaced during a state inquiry into grocery prices as the supermarket giant faces scrutiny over their $1.62 billion profit in 2023.
🦘 Telstra Cuts 2,800 Jobs, ANZ Bounces Back After Major Outage, Aviation Sector Recovers From COVID-19
Australia’s telecom titan, Telstra, is tightening its belt with a hefty job cut, axing up to 2,800 positions in a bold move to stay competitive. As digital demands soar, Telstra is slashing its workforce by nearly 10%, affecting a significant chunk of its 31,000-strong team.
🦘 New Tools To Tackle Energy Costs, Victoria Removes Stamp Duty for Businesses, South Australia Hit With Price Bumps
The Albanese government has unveiled a series of initiatives aimed at reducing energy costs and promoting sustainability, which means better deals might just be a click away for Aussie consumers and businesses. As part of these energy affordability efforts, a shiny new energy price comparison website has been launched.