Category: Finance
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Budget invests in a reliable energy future
A $265 million energy package in the 2017 Federal Budget will ensure Australia maintains a secure, competitive and reliable energy system into the future. The nation’s energy system is undergoing its greatest transition since electricity became widely available in Australia. The measures in this package will set Australia up for a modern and dynamic energy…
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NAB posts $2.5bn profits but does not meet expectations
National Australia Bank (NAB) has posted an overall net profit for the first half of the financial year of $2.5 billion which, while falling short of expectations, has marked a dramatic improvement on the $1.7 billion loss posted this time last year. NAB’s cash profit, which is the bank’s preferred performance measure since it is…
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Federal Budget to distinguish between ‘good debt’ and ‘bad debt’
Federal Treasurer Scott Morrison has announced changes to the way the upcoming budget will be reported, to clarify the differences between ‘good debt’ and ‘bad debt’, adding to the new ideas being touted for this year’s budget review. Mr Morrison will announce the changes in a speech at a lunch with the Australian Business Economists today…
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Small Queensland bank creates wearable Visa card
The Heritage Bank in Queensland has beaten the big 4 banks within Australia in the race for wearable tech. The wearable tech has been given to 40 Heritage Bank customers and allows them to pay with a chip on a wristband, which is also waterproof. The wristband features the Visa Paywave chip that allows people to…
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Cashless welfare expansion considered ahead of budget
The Federal Government is considering expansions to the trial cashless welfare system ahead of the budget next month. The trial system exists as a cashless welfare debit card, onto which 80% of the individual’s welfare payment is transferred. This card cannot be used to buy alcohol, to gamble or withdraw cash, but is determined for…
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Superannuation overhaul could help workers
Superannuation has been a pillar of the Australian workforce since it was introduced in 1983. However, employees can find it difficult to navigate the numerous superannuation funds and select a single fund throughout multiple jobs. Employees can find themselves signing up to the superannuation fund that works best for the company instead of the fund…
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The Reject Shop shares have plummeted
The value or stock in The Reject Shop have plummeted after the discount variety store reported a drop in its full-year profit. In an announcement to the ASX, The Reject Shop revealed that their full-year profit will drop to approximately $12.5 million, citing the wider market as a cause for the loss of profits. “Assuming…
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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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Government considered housing tax breaks in early 2016
Despite a new Federal Government housing affordability package expected for the next budget, the impact of tax breaks in the housing market was formally examined and rejected by the Federal Cabinet as early as February 2016. The Coalition Government responded to investigations into the possibility last year by launching direct and staunch opposition to Labor’s proposals for…
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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…