Tag: finance
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Bitcoin and Cryptocurrency – The Future, Or Just A Passing Phase?
In its brief 12 years of existence, Bitcoin has gone from being simply another alternative to e-money, to a wildly popular movement that may lead to the total disruption of the way in which the entire world handles its money. However, despite its rapid adoption rate, many skeptics are doubtful of Bitcoin’s longevity. There are…
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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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ATO mental health support for small business
The ATO has said that it is committed to helping to address the issue of mental health for small businesses. Deputy Commissioner Deborah Jenkins has attended the Small Business Mental Health roundtable chaired by Senator Michaelia Cash, Minister for Small and Family Business, Skills and Vocational Education at Parliament House. Ms Jenkins said that the…
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Max Brenner Has Been Saved From Liquidation in Last Minute Deal
In a last minute deal with Tozer and Co, the chocolate cafe and luxury chocolaterie has been saved after going into voluntary administration last month. Brothers David and Craig Tozer struck a last minute deal with the company to secure the licence for Max Brenner. Max Brenner Industries ltd. were about to go to the…
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Daffodil Day 2018: Are the Daffodils Dying Down?
August 24th marks Daffodil Day for another year, and the charity is still moving mountains. But it seems like the days of proudly brandishing the signature bright yellow Daffodil pin on your school uniform or work bag might be slowly disappearing. The charity has seen some significant losses over the last few years. The significance…
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Northern Territory Paying Aussies to Make the Move Up North
Financial incentives are being offered to Australians who buy a house in the Northern Territory in a bid to attract more people to the state. The government is pledging $9.3 million towards plans to try and lure people, including migrants, up north. The announcement is a part of the Northern Territory Population Growth Strategy 2018-2028…
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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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Premier Investments confirms stake in Myer
Premier Investments has been announced as the largest stakeholder for the retail giant Myer. In a statement to the ASX, Premier Investments confirmed that it has bought a 10% stake in the retailer, after much speculation over who had bought the shares. “Premier Investments Limited has made a strategic investment of 10.77% in Myer Holdings…
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Youtube advertiser boycott could cost Google millions
Google is facing international backlash with the Youtube advertiser boycott. Advertisers are boycotting Youtube to prevent their advertisements from appearing next to extremist content. Many high profile brands, such as McDonald’s and LO’real, have appeared next to hate speech and are subsequently campaigning for better moderation. Advertisers have frozen their contracts with parent company Google and it could…
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ANZ raises interest rates for investors
ANZ has become the latest of the big banks to raise its variable interest rates since the US Federal Reserve raised its rates last week. The bank has raised the interest rate for investors by 0.25 basis points from 5.60% to 5.85% per annum, effective from March 31st. ANZ is also raising it variable rate for its interest…