- Outback Briefs
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Archive
🦘 Treasurer Hints Towards Cost of Living Relief, Banks Push Back Rate Cut Forecasts, Qantas Glitch Exposes Customer Data
Aussies feeling the pinch can look forward to some cost-of-living relief in the upcoming budget, Treasurer Jim Chalmers hinted, although it's not all good news—don't hold your breath for an increase to Jobseeker payments.
🦘 Australia’s Home Insurance Concerns, Coles Amplifies It’s Home Brand Strategy, Australia’s Quantum Computing Bet
Australia's already hefty home insurance costs are hitting new heights, fueled by an alarming trend of severe weather events. In the last two years alone, storm and flood damages have racked up insurance bills over $12 billion.
🦘 The Aussie Jobs AI Is Taking Over, Crown Resorts With Good and Bad News, Aussie Bitcoin ETF On The Cards
Get ready, Australia! AI is knocking on the door, and it's here to take over. With technology zipping ahead, a whopping 1.3 million jobs might need a total overhaul by 2030, warns consulting behemoth McKinsey.
🦘 Fuel Prices Hit Record High, Aussies Ditch Subscriptions To Battle Cost of Living, Nick Scali Goes Global
Hold onto your hats, Aussie drivers! The petrol price pain is real and record-breaking, with the average cost of 91 octane unleaded hitting a staggering 217.92 cents per litre across major cities.
🦘 Rate Cut Hopes Take A Big Hit, June HECS Debt Increase, Facebook Australia Earnings Leap
Just when you thought it was safe to dream of lower interest rates, inflation has other plans! After a surprising 1% rise in the consumer price index for the March quarter, those cozy rate cut forecasts have been pushed back.
🦘 Economists Contemplate Rate Hike Possibility, Retail M&A Volumes Take A Big Dip, Tax Return Reminder
In the land Down Under, the economic weather vane is spinning with uncertainty. Despite Treasurer Jim Chalmers painting a picture of a "fraught and fragile" economy, some economists are keeping the door open for another rate hike.
🦘 Albo Hints At HECS Reform, Aussie Budget Balance Ranks Second Globally, Woolies In Hot Water For Staff Underpayment
Heads up, Aussie students and grads: Prime Minister Anthony Albanese hints that relief from the suffocating grip of HECS debt might just be around the corner. As the nation braces for another jump in HECS indexation this June - potentially hiking up debts by as much as 4.8% - the PM acknowledges the need for a system overhaul.
🦘 Unemployment Inches Higher In March, RBA Pushes For Debit Card Surcharge Savings, Peak Hour Pricing For Energy
Australia's job market is showing signs of tightness (meaning that there are more jobs than workers), even as the unemployment rate nudged up to 3.8% in March from 3.7% in February, with a net loss of 7,000 jobs. This slight increase in unemployment hasn't shaken the stability of the 'trend' unemployment rate, which has held steady at 3.9% for five consecutive months, suggesting underlying strength in the economy.
🦘 Business Insolvencies On The Rise, Sydney’s Attempt at Tackling Housing Crisis, ANZ’s Big Banking Shift
Australia is witnessing an alarming surge in business insolvencies, setting a new undesirable record as companies buckle under the strain of rising interest rates, soaring costs, and tepid consumer spending.
🦘 Woolies CEO Hit With Jail Threat, ASX Nosedives Through This Years Gains, AMP Slowly Begins Restructure
In a dramatic turn at the Senate inquiry into supermarket pricing, Woolworths CEO Brad Banducci was hit with a potential six-month prison sentence for contempt after dodging questions on the company's profitability. The tension escalated as Greens senator Nick McKim pressed Banducci on the importance of "return on equity" as a profitability measure, a question Banducci repeatedly sidestepped.
🦘 Bunnings Under Hot Water, The Star’s Regulatory War Continues, NAB Boss Eyes New Zealand Growth Prospects
Australia's hardware behemoth, Bunnings, faced a hammering in a recent Senate probe over alleged mistreatment of plant suppliers, with accusations flying about unfair contractual practices. The inquiry illuminated claims from a nursery manager who felt like a "slave" after Bunnings abruptly canceled a lucrative deal, causing her a staggering $2.3 million revenue loss.