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THE NEWS WRAP: ASIC to release high speed trading report
3:22PM | Sunday, 17 MarchThe Australian Securities and Investments Commission will today release a report into high speed trading and will reveal whether it intends to join Germany, France and the European Union in regulating the practice. The report examines whether “dark pools” – where high volume, high speed trades are placed electronically through computer algorithms without human intervention – could in some cases constitute a form of market manipulation. ALP vice president backs 457 visa crackdown, slams Mark Latham ALP vice president and Transport Workers Union secretary Tony Sheldon has backed Julia Gillard’s 457 visa crackdown and launched a stinging attack on former leader Mark Latham’s Quarterly Essay, in an address to the ALP national organisers forum in Canberra over the weekend. "It's simply a way for unscrupulous employers to bypass the local job market and escape their responsibilities to employ and train our children. And it is made worse by the fact that the 457 visa was leaving people highly vulnerable to exploitation," Mr Sheldon said. "When it comes to our philosophy and our story, we've been fitted-up by our opponents in the conservative side of politics and by some of our former friends too, including a certain former leader who has just published a Quarterly Essay.” A run on the banks in Cyprus Cyprus has experienced a run on the banks following the introduction of a new tax on savings, after the European Union decided part of a new €10 billion ($A12.49b) would have to be paid for by a tax on savings. The once-off tax will see Cypriots pay 6.75% of their bank deposits under €100,000 and 9.9% of savings over €100,000, with the government claiming the move will avert the need for a Greek-style austerity package. Despite most major banks placing a €400 limit on withdrawals, most ATMs had run out of cash by the early evening. Overnight The Dow Jones Industrial Average closed down 0.17% to 14514.11. The Aussie dollar is down to US103.45 cents.
We need an innovation council, says Australia’s chief scientist
3:49AM | Friday, 15 MarchStart-ups could benefit from the establishment of an Australian Innovation Council, proposed by Australia’s chief scientist Ian Chubb as one of five “breakthrough actions” to boost innovation.
THE NEWS WRAP: Italian PM’s resignation sends jitters through global markets
3:44AM | Monday, 11 MarchItalian Prime Minister Mario Monti has announced he will step down ahead of a general election, sending shockwaves through European financial markets.
THE NEWS WRAP: Australian businesses holding off on mergers and acquisitions: Report
3:44AM | Tuesday, 12 MarchAustralian businesses are holding off on merger and acquisition activity amid deepening caution over the past six months, according to a new report.
Five Aussie-led start-ups making their mark overseas
10:31PM | Thursday, 11 OctoberOne of the big advantages of the increasing ubiquity of technology in start-up businesses is that national borders have become less of a barrier for them.
THE NEWS WRAP: Trade deficit blows out to $2 billion
3:58AM | Tuesday, 12 MarchAustralia’s trade deficit has topped $2 billion, the worst result since March 2008, with falling prices and the strong Australian dollar blamed for the dip.
GoFundMe to ramp up crowdfunding battle with rival Kickstarter
9:24AM | Wednesday, 26 SeptemberUS-based crowdfunding platform GoFundMe is looking to accelerate its growth with a new partner program, amid reports it is currently raising about $3 million in campaigns every month.
THE NEWS WRAP: Economists say economy growing despite mining slowdown
9:16PM | Tuesday, 4 SeptemberThe Australian economy is still strong, despite a slowdown in the mining sector, and is set to post healthy quarterly GDP growth figures this week, according to a group of leading economists.
Social enterprise Barefoot Power raises $5.8 million Series B round
7:43PM | Monday, 23 JulySocial enterprise Barefoot Power has raised $5.8 million from investors, as it seeks to bring affordable renewable energy and efficient lighting to five million people by next year.
A Q&A on what the Greek election means for small businesses
6:05AM | Monday, 18 JuneThe world has been waiting for new elections in Greece for over six weeks and now the wait is finally over.
The National Business Name Register: All you need to know
5:59AM | Monday, 28 MayChoosing a business name may be a mundane experience that provides a perfunctory label for your product or service, or it can be an inspired piece of branding that will help fast-track your business into consumers’ minds.
Less than a quarter of ICT workers are female: ABS
5:50AM | Tuesday, 1 MayLess than 25% of workers in Australia’s Information and Communications Technology (ICT) industry are female, new statistics show, amid accusations that the sector is failing to retain women long-term. According to the Australian Bureau of Statistics’ Labour Market Survey for February last year – the latest figures available – there are 131,059 women employed in the ICT industry. This represents just over 24% of the total workforce. Maree Adshead, chief executive of Queensland ICT company MobileIP, is also chair of the Queensland branch of the Australian Information and Industry Association. Adshead says while this figure is higher than that of other world centres, namely Europe, it is still concerning. According to a white paper titled Women and ICT: Why are girls still not attracted to ICT studies and careers?, ICT is the major driver of growth in productivity in the European Union. Despite this, less than one in five computer scientists are female. With regard to Australia, Adshead says there is definitely a dearth of women in the ICT industry. “We debate the issue time and time again to try and solve it but there is no easy answer,” she says. According to Adshead, the entry level representation of women into the industry is high, but many do not remain in the industry for the duration of their careers. “Women come into the industry but don’t stay, and it’s the fact that they don’t stay that seems to be more pronounced in ICT than it is in other industries,” she says. “Is it because it’s a very fast-paced, technology-driven industry that once you leave you may feel is hard to get back into and catch up on what has happened since you were gone? “I don’t know. This could be part of the reason, but senior women are not easy to find.” Adshead’s comments reflect the sentiments of fellow female tech entrepreneur Kate Kendall, who believes women are put off by the male-centric mindset within the industry. “I do tend to think the tech community is a bit of a bro fest… It’s a welcoming environment to enter but it’s not an environment people want to stick around in,” Kendall told StartupSmart. “[Women are] still a long way off getting equal support and representation.” Adshead said talented women from the ICT field are highly attractive to other sectors because of their technical skills and expertise, which could also explain their departure from the sector. “ICT women seem to be in demand outside the industry. The industry spreads far beyond technically skilled people.” “ICT is home to lawyers, accountants and all manner of other professionals. I find it hard to imagine a more vibrant and exciting industry to be a part of.” “So we should be looking closely at how we attract and retain women in ICT. The ICT industry is bursting with opportunity.”
R&D Tax Credit tipped to boost small businesses
9:38PM | Sunday, 18 SeptemberLabor’s new R&D Tax Credit was passed through the Senate yesterday with amendments brokered by the Greens, including a quarterly payment option for small businesses.
Amazon dodges Apple control with Kindle browser
8:16AM | Thursday, 11 AugustAmazon has dodged Apple’s strict in-app rules by launching a browser-based version of its Kindle eBook application, with experts saying the move could prompt other companies to follow suit.
At some point I’m planning to expand my brand overseas. When should I start thinking about trademarks?
4:34AM | Wednesday, 6 AprilI’m planning to expand my brand overseas at some point in the next couple of years. When should I start thinking about trademarks? Is there one place where I can trademark my business and its core products centrally, or will I have to do it in each country?
THE NEWS WRAP: Government may ease tax burden on small miners
12:33PM | Saturday, 4 DecemberThe Federal Government could offer concessions to small miners to help combat opposition over the proposed $7 billion tax on the resources industry.
