Category: Business
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Australian Universities Face Crisis over Funding Reforms and Loss of Revenue
Australia’s university sector is facing turmoil due to severe revenue losses and government reform of tertiary funding. The University of Melbourne’s Centre of Higher Education has found that Australia’s public universities have collectively lost approximately $3.8 billion dollars in revenue. The dramatic reduction in international student enrolments and hardship caused by COVID-19 has been attributed…
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Westpac to Pay Largest Fine in Australian Corporate History
Westpac has agreed to pay AUSTRAC (the Australian Transaction Reports and Analysis Centre) $1.3 billion in fines, the largest in Australian corporate history. The penalty was incurred after AUSTRAC found that Westpac had committed more than 23 million violations against anti-money laundering and counter-terrorism laws. CEO Peter King commented in a statement that the bank…
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How Jobkeeper 2.0 Will Impact You
The legislative reforms to the Jobkeeper scheme were officially passed in the senate last week, ensuring that Jobkeeper 2.0 will commence on September 28. The scheme has provided a lifeline to 3.5 million Australians since its launch in March. These changes will see a dramatic reduction in the subsidies eligibility and payment amount. Here is…
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Australian Economy Enters First Recession in 30 Years
The Australian economy has entered into its first recession in 30 years due to COVID-19 induced global economic instability. The June quarter GDP numbers show that the economy shrunk by 7% within that time, the Australia Bureau of Statistics (ABS) revealing this has been the biggest drop in GDP since it was first recorded in…
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University Graduates faced with unemployment amid Covid-19 economic downturn
University graduates are at risk of unemployment as they graduate into a job market where supply exceeds job demand. This comes as Australia’s seasonally adjusted unemployment rate rose to 7.5% in July 2020, making it the highest jobless rate since November 1998 as reported by the Australian Bureau of Statistics. University graduates have become increasingly…
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The Best Engagement Ring Jewellers in Australia
Finding the perfect piece to mark your special occasion can be somewhat of a challenge. Whether you’re looking for a statement engagement ring or a timeless wedding band, you want to know you are shopping with the best. So we did the work for you! Here you will find the best engagement ring jewellers in…
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Rodney Adler discusses the economic impact of Covid-19
After the 2007 – 2009 financial crisis, the structural problems and imbalances that were created by the financial collapse and recession were made much worse by policy mistakes. Governments, around the world, mostly postponed the crisis instead of dealing with it thereby making another crisis inevitable. That crisis has now arrived and by itself would…
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Rodney Adler breaks down the stimulus package and the future effect of Covid-19 on our economy.
The Australian government under the leadership of Scott Morrison has done an excellent job dealing with the economic implications of the coronavirus and of course the handling of the virus itself. With less than 7300 cases and currently just over 100 deaths, the leadership of Australia can be rightfully proud. Everything done to date can…
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Rex set to rival major airlines
Regional airline Rex is looking to expand their domestic services starting from earlier next year. The move comes after controversy surrounding Rex’s substantial government bailout as the federal government scrambles to provide support for the aviation sector during the Coronavirus pandemic. The small airline received more money from the Morrison government than Qantas and Virgin…
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NSW to relax COVID-19 restrictions for up to 10 people on Friday, May 15. How will this affect small business?
While excited citizens get ready for a much needed rendezvous in the park this weekend, some question the viability of the 10 person rule for bigger businesses like pubs, clubs and restaurants. Just yesterday, NSW premier Gladys Berejiklian announced there will be a state-wide relaxing of COVID-19 restrictions extended to clubs, and pubs. From Friday…