Category: Business
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Tesla recalls luxury model cars globally
Tesla’s luxury electric Model S and Model X cars have suddenly been recalled worldwide due to concerns that their parking brakes pose a possible safety threat. The major recall is cautionary and thankfully there have been no reported incidents, but Tesla wants to avoid last year’s debacle. The vehicles being recalled are Model S and Model…
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Chevron loses appeal against ATO
US energy giant Chevron is now facing one of the largest tax bills in Australian history after it lost its appeal against the Australian Tax Office (ATO). In a unanimous decision, three Federal Court judges dismissed the appeal, which was originally launched in December last year. The decision involves Chevron underpaying tax in the years…
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Opposition presents alternative housing affordability plan
The Federal Opposition has presented an alternative solution to the housing affordability crisis, detailing a plan to crack down on self-managed superannuation funds as well as imposing higher fees and penalties on foreign property investors. Ahead of next month’s Federal Budget, which will reportedly include a Coalition plan to combat housing affordability problems, Labor has put…
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5 tech trends small businesses need to know
Running a small business is an all-encompassing task. Often, small business owners have built their businesses from the ground up and monitor every element of their business to ensure that it’s operating as it should. However, modern technology is able to lessen the load of running a small business or startup company. There are many applications…
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Unemployment remains steady at 5.9%
Australia’s unemployment rate has remained steady throughout March, after larger-than-expected gains in full time job growth. According to the Australian Bureau of Statistics (ABS), the unemployment rate has remained steady at 5.9%, which is in line with market expectations. Figures released by the ABS show that full-time employment is largely the reason behind the steady rate, with seasonally…
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TPG announces mobile network and Telstra shares drop
Telstra shares have fallen dramatically after the announcement that competitor TPG has acquired the last of Australia’s 700MHZ spectrum. 700MHZ is considered premium for mobile phone networks, as it requires fewer towers to cover a greater distance. The Australian Communications and Media Authority says TPG paid $1.26 billion for 700 MHz spectrum. This now means that there will…
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Free trade agreement with EU now closer than ever
Australia is now closer than ever to a free trade agreement with the European Union, according to the Australian Ambassador to the EU, Mark Higgie. On Twitter last night, Higgie confirmed that Australia was a step closer to starting negotiations with the EU regarding a free trade deal. The progress comes after the conclusion of a…
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US Vice President Mike Pence to meet with Turnbull
United States Vice President Mike Pence will meet with Prime Minister Malcolm Turnbull and other government figures when he visits Australia as part of a Pacific goodwill tour next month. Pence will meet with Turnbull, Opposition Leader Bill Shorten, and Foreign Minister Julia Bishop on April 22nd as Pence seeks to heal the damage done…
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United Petroleum workers underpaid says Fair Work Ombudsman
United Petroleum has been blasted by the Fair Work Ombudsman after it has been revealed that they had underpaid almost 50 of their workers across a number of their outlets. The Fair Work Ombudsman has released a report which revealed that more than 40% of the United Petroleum outlets audited were underpaying employees. “Five outlets…
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Iron ore price drop would leave Australian miners at risk
Small-scale junior iron ore miners in Australia could face serious damage to their portfolios if prices drop in the near future. In a market that is known to be highly cyclical, a recent downturn in iron ore prices after a quarter of sustained growth is a cause for concern to the smaller mining operations, such…