🦘 More Aussies Living Paycheck to Paycheck, Cost of Living Relief On The Way, Aussie Data Centre Operator Acquired by Blackstone

G’day everyone!

Here’s what we’ve got in store for you today:

• More Aussies Living Paycheck to Paycheck

• Cost of Living Relief On The Way

• Aussie Data Centre Operator Acquired by Blackstone

Let’s have a look at the market snapshot before jumping into the news:

Paycheck Panic: The Financial Tightrope Most Aussies Are Walking

A recent survey reveals a worrying truth about Australians' finances: over half are running out of cash before payday!

According to Finder's survey, 52% of respondents either occasionally or always hit zero before their next paycheck comes in.

A staggering 16% admitted to running completely dry every month, with women outpacing men in this money scramble.

On average, those spending beyond their means are short by $249 monthly, painting a grim picture of household finances.

Graham Cooke from Finder highlights the harsh reality - soaring living costs are draining bank accounts and pushing people to extreme measures, like skipping meals.

A whopping 69% of participants pointed to the cost of living as their biggest challenge, while 20% confessed to being poor money managers.

Cooke recommends asking for a pay rise if you're struggling and suggests cutting unnecessary expenses.

So whether it’s side hustles or canceling subscriptions, it’s time to get creative with your cash!

September Savings: $7.8 Billion Relief Package Hits Aussie Households!

Get ready for some financial relief!

Treasurer Jim Chalmers has announced a whopping $7.8 billion package aimed at easing the ongoing cost-of-living crisis that’s affecting families nationwide.

As energy prices soar and mortgage holders feel the pinch, this new support aims to lighten the load for renters, pensioners, and those shelling out for prescription medicines.

• From September 20, Commonwealth Rent Assistance will see a 10% boost for around one million households receiving Centrelink payments.

• Plus, JobSeekers can access a cash boost of at least $54.90 a fortnight if they're unable to work more than 15 hours.

• For medical relief, Australians will soon benefit from a 60-day script program, reducing the number of trips to the doctor for prescription renewals.

With further plans in the pipeline like freezing pharmaceutical costs and waiving student debt, it seems the government is stepping up to help Aussies in need.

Just remember - while this relief is great, economists warn increased spending may challenge efforts to bring inflation down further. 

Big Bucks in Data! Blackstone Eyes $13.5 Billion Deal for AirTrunk

Hold onto your hard hats, folks!

Blackstone Inc. is on the verge of sealing a jaw-dropping deal to acquire AirTrunk, an Australian data center giant, for a cool A$20 billion (that's about $13.5 billion USD), including some debt.

This acquisition could potentially be one of the largest digital infrastructure deals this year.

After some fierce bidding, it looks like Blackstone is standing tall as the preferred buyer.

The New York-based investment powerhouse is currently hashing out the final details with AirTrunk’s current owners, Macquarie Group and PSP Investments.

But wait, there's more!

As part of the financial maneuvering, Blackstone is negotiating a hefty A$5.5 billion loan, adding to an already arranged A$7 billion funding package.

AirTrunk operates data centers across several key Asian markets, and its valuation has soared since being taken over by Macquarie’s infrastructure arm in 2020.

It’s clear that Blackstone is betting big on digital infrastructure and the booming Asian cloud-services market.

Keep your eyes peeled for the official announcement, it's bound to shake things up!

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You Made It!

If you’ve read all the way up to here, we just wanted to let you know that you’re an absolute legend!

Time to go to work and show off how clued up you are about what’s going on in the business world 💪

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