Australia’s food retail sector will undergo subdued growth in the March quarter, according to the Australian Food and Grocery Council CHEP Retail Index, following stronger sales in December.
Facebook could file for an initial public offering as early as this week, according to reports, which would value the company at up to $US100 billion.
New York-based digital music start-up Beyond Oblivion has filed for bankruptcy before its launch, despite financial backing from News Corp and nearly $90 million from investors.
Newly-appointed Small Business Minister Mark Arbib has downplayed the level of concern among small businesses over the carbon tax, identifying rents and payroll tax as more important.
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Businesses are being urged to prioritise trade payments as they stare down the barrel of another challenging year, with data showing severely delinquent bills are at a 12-month high, jumping 28% over the Christmas period.
Business owners are relying on another interest rate cut to help offset the worst trading conditions in 14 years, according to the Australian Chamber of Commerce and Industry.
Australian start-up 99dresses has temporarily closed its doors after 20-year-old founder Nikki Durkin ran into financial troubles, although the business’ former incubator is confident that Durkin will bounce back.
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The Commonwealth Bank Business Sales Indicator rose by 0.2% in December, following similar gains in November and October, with just four out of 20 sectors contracting during the month.
Companies looking to do business in the United Kingdom shouldn’t expect any short-term gains, an economist says, despite the Australian dollar hitting a 27-year high against the British pound.
The Westpac Melbourne Institute Index of Consumer Sentiment increased by 2.4% in January to 97.1 points, but the increase has been described as a “somewhat disappointing” result by a leading economist.
Australia’s patent attorneys have come under attack for charging too much for patent filing, with claims that some attorneys charge as much as $150,000 to file patents overseas.
Australian business owners are “largely optimistic” about 2012, according to a Grant Thornton report, but expect to see a decrease in exports amid global economic uncertainty.
The hospitality sector shouldn’t have to pay penalty rates on weekends and public holidays, a leading industry group says, because businesses in the sector are struggling to keep their doors open.
Credit card interest rates will continue to rise despite a drop in the official cash rate, according to research firm Canstar, spelling bad news for start-ups planning to spend on credit this year.
Retail sales remained flat in November, according to the latest figures from the Australian Bureau of Statistics, after increases of 0.2% and 0.3% in October and September respectively.
The Australian Food and Grocery Council has renewed its call for the Federal Government to appoint a Supermarket Ombusdman, following the closure of a Heinz factory in Victoria.
Only 36% of Australian consumers buy products on sale, according to a new report, while 83% identify quality as the most important factor, suggesting retailers cannot rely on discounting to remedy sluggish sales.
The services sector remained in negative territory in December, according to the latest Australian Performance of Services Index, with ongoing weakness across consumer-related sub-sectors.