RICHARD Lacaille, the man who oversees the investment strategy for one of the world’s biggest investment management groups, State Street Global Advisors, predicts corporate bankruptcies are set to flow across the globe this year.
And Australia will not escape. ” Continue reading
With the 2008-09 financial year drawing to a close in the next 2 months some of you will recall it as “pessimus annus” – the worst year, whilst others hold a more optimistic view – why?
We would hazard a guess that the more optimistic of you reading this article are the handful of business owners that have taken the time out to thoroughly review your business AND have a plan in place for where you want it to be in 3-5 years time.
In conjunction with our business partner ZENBUU, (www.zenbuu.com), all subscribers are asked to answer a series of questions to benchmark the performance of their business. Continue reading
Households with mortgages of up to $500,000 will legally be able to request changes to the terms of their credit contract. Continue reading
THE Australian economy will shrink faster than the global average this year, the IMF says. Continue reading
THE International Monetary Fund has warned that the credit crunch will be deep and long-lasting, with the worst yet to come. Continue reading
ASIC has obtained orders in the Federal Court in Melbourne to wind up 2 insolvent companies Continue reading
The Australian economy is in recession and maintaining confidence is key to a local recovery, the governor of the Reserve Bank said today.
“Whether or not the next GDP (gross domestic product) statistic, due in early June, shows another decline, I think the reasonable person, looking at all the information available now, would come to the conclusion that the Australian economy, too, is in recession,” said Mr Stevens. Continue reading
TWENTY-FIVE per cent of small to medium-sized businesses in NSW expect to sack staff within three months, a survey by the NSW Business Chamber has found.
NSW has the highest jobless rate in the country, at 6.9 per cent, but that is expected to increase.
Phone calls by business to the chamber seeking advice about about termination and redundancy have increased 60 per cent since the middle of last year.
One in four of the 440 companies surveyed said they had reduced staff hours in the first three months of this year.
Another 24 per cent say they expect to sack someone over the next three months while only 9 per cent expect to hire staff.
Nearly half of firms surveyed believed business conditions had deteriorated in NSW in the previous three months.
Lack of access to new credit remains a pressing issue, with one in three NSW companies saying they had trouble being able to borrow from their bank.
article excerpts smh.com.au
AUSTRALIA’S addiction to credit card debt has surged to record levels – and it has nothing to do with a post-Christmas spending binge.
The amount of repayments aimed at reducing our imposing credit card debt has plummeted. Continue reading
Prime Minster Kevin Rudd today conceded that Australia will fall into recession.
At a jobs forum today he said a recession was now “inevitable”. Continue reading
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