Category: Finance
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Masters getting more backlash on end days
With customers hoping to get a good bargain at the closing down sale for Masters, they are actually getting rude customer service and seeing staff left to fend for themselves in the heavy rain. The retailer is looking to sell more than $700 million worth of stock in time for their doors to close on…
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JB HI-FI has bought an appliance giant out
Electronics giant JB HI-FI has bought out appliance chain, The Good Guys, for $870 million, now acquiring more than 100% of their competitor. The two will still be separate chains but work together to run both companies smoothly and hopefully to drive prices down. The ACCC gave the all clear yesterday to merge together and work together, despite them…
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Let’s say goodbye to the Opal card incentives
The NSW government has farewelled the eighth trip free for customers using an Opal card. This change was debated a lot with customers and now the state government have finally bid farewell to it. From 5 September 2016, eight or more opal journeys will be given half price every time they tap on and off…
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Volkswagen under even more strife
Following last years diesel emission scandal, Volkswagen Group could be facing a $1.56AU billion fine over the Diesel Gates crisis. The lawsuit is being dealt with by the legal team from VW and the Department of Justice in the United States. The European producer has violated the Clean Air Act, alleging that the 4.0 cylinder Volkswagen…
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Domino’s facing risky rates
Much loved Domino’s Pizza may get hit with a 24% loss to their Australian profits, if they declare it under their new enterprise agreement. This came from a report by Deutsche Bank which they are currently with. Michael Simotas, an Analyst from the bank showed their current wage agreement expired in June three years ago. They also still…
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Claiming Tax deductions correctly to the ATO
It’s that time of year again when people will be claiming usage on mobile phones, for petrol, work related travel expenses etc. In the past, there have been claims inappropriately added for ATO. Many have claimed broadband, phone and travel usage when it was in fact for personal use only. Most claim 90% as work related…
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Seven West Media invests $22M in Airtasker
Sydney-based company, Airtasker, just secured a $22 million Series B investment led by Seven West Media and now wants to become an Australian household name. The 4-year-old startup provides an online and mobile marketplace enabling users to outsource everyday tasks. It allows you to access thousands of skilled people from furniture assembly to data entry tasks. Chief Executive,…
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Snapchat continues to make billions
A recent filing with the the Securities and Exchange commission has revealed that Snapchat has brought in another $1.8 billion from its investors. Participants include Sequoia Capital, Spark Capital, Meritech Capital Partners and Dragoneer Investment Group. In March, Snapchat was estimated to be worth $16 billion, and this latest boost brings the valuation up to $18 billion.…
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Twitter’s earnings disappoint
Twitter has posted its first quarter earnings and they are noticeably less than the analysts predicted. The company earned $595 million, which fell far short of the $607.8 million expected by industry analysts. Twitter showed a net loss for the quarter of $80 million. Although the company did grow its earnings by 36%, the disappointing…
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Australia 2nd Most Likely to Suffer Debt Crisis
Forbes recently released a study into which top seven countries were the most vulnerable to a debt crisis in the next 1-3 years, and we in Australia were #2 – second only to China. Australian economist Steve Keen writes for Forbes that the same financial mishaps that were the cause of the Global Financial Crisis…