Business

The suburbs bearing the brunt of the Reserve Bank's war on inflation

The suburbs bearing the brunt of the Reserve Bank’s war on inflation

“We do think there will be people who are going to struggle with these higher rates but it’s probably a small cohort at this stage,” she said. First-time buyers using various government support measures clustered into particular parts of the country over the past three years. In Melbourne’s outer suburbs they included Cranbourne, Mickleham, Craigieburn …

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Former Demon James Strauss takes legal action against teammate Joel Macdonald

Former Demon James Strauss takes legal action against teammate Joel Macdonald

Macdonald would later tell Strauss, according to the writ, that he had negotiated with the ASX for the escrow period to be reduced to one year because he was never a director or employee of GetSwift. Just days before the float in December 2016, Strauss signed an agreement prepared by GetSwift that stopped him from …

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Big lenders cut fixed rates despite Reserve Bank of Australia cash rate hikes

In the past week, eight lenders on the RateCity database have cut at least one fixed rate. This includes Westpac, CBA, Firstmac, Loans.com.au, Macquarie Bank, Suncorp, Homestar Finance investment loans and Athena Home Loans. Eight lenders cut fixed rates despite official cash rate rising. (9News) Millions of borrowers have been tempted by ultra-low fixed rates, …

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Social media tech unicorn Linktree cuts 17pc of staff

Social media tech unicorn Linktree cuts 17pc of staff

Instead, tech valuations have taken a substantial hit in both public and private markets, as interest rates rise and the cost of capital goes up. “Conditions changed faster than expected and those assumptions I made were wrong. I have many learnings to take into the next phase of building Linktree. That next phase involves narrowing …

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EnergyAustralia suffers a $1.6b loss due to 'extreme' market conditions

EnergyAustralia suffers a $1.6b loss due to ‘extreme’ market conditions

The electricity crisis caused EnergyAustralia to suffer a whopping $1.6 billion loss for the first half of the year as the company battled with “extreme” conditions in the market. The Melbourne-based company, owned by Hong Kong’s CLP Group, also warned that household power bills would continue to face pressure due to ongoing volatility in global …

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Elon Musk's dad Errol Musk backtracks on stunning remark

Elon Musk’s dad Errol Musk backtracks on stunning remark

Elon Musk’s father has back-pedaled on his comments about his billionaire son after he said he wasn’t proud of his famous offspring. During the latest episode of Piers Morgan Uncensoredavailable to stream on Flash, Errol Musk, 76, addressed the stunning remark and said he was misquoted. “I never said anything like that,” he said on …

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Australia's central bank launches digital currency pilot |  Crypto

Australia’s central bank launches digital currency pilot | Crypto

Reserve Bank of Australia says year-long trial will explore “innovative use cases and business models” for currency. Australia’s central bank has unveiled plans to examine the potential economic benefits of introducing a central bank digital currency (CBDC). The Reserve Bank of Australia (RBA) said in a statement on Tuesday it would carry out a year-long …

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Goldman Sachs-funded fintech Timelio in recap, founders depart

Goldman Sachs-funded fintech Timelio in recap, founders depart

Symon Brewis-Weston, the former CEO of Flexigroup and a director at ASX-listed Money3 Corporation, has assumed the chief executive role. In a statement on Tuesday, Charlotte Petris said: “I am proud of what the team has achieved, especially over the last 12 months… I look forward to seeing the team grow Timelio to the next …

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Australia's largest pizza company has just announced their new venture into the burger market

Pizza giant Domino’s enters the BURGER market with a twist

Pizza giant Domino’s launches a new BURGER range – here’s how to try one of the new creations Domino’s Australia has announced their new exclusive Burger Joint Pizza Range New pizzas include Burger Joint Hamburger ($18.95) and Cheeseburger ($10.95) The pizzas are made with 100% Aussie beef, American cheese, butter pickles The Burger Joint Pizza …

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AusSuper thinks about stake in retirement living group GemLife

AusSuper thinks about stake in retirement living group GemLife

Aware Super was another big superannuation player understood to have had an early look, while Macquarie Asset Management and Brookfield were among a long list of parties said to have been targeted. GemLife was pitched with a portfolio of more than 11,000 land lease homes across 43 locations across Queensland, NSW and Victoria, which makes …

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