In short: The number of businesses in external administration has hit a record high, according to CreditorWatch. The highest-risk areas are dominated by south-west and western Sydney and south-east Queensland, while regional Victoria, north Queensland and inner Adelaide are lowest risk. What’s next? The Australian Taxation Office is collecting tens of billions of dollars in…
Over the weekend, the Government has proposed two important changes for tertiary students and graduates. The HECS-HELP scheme would be indexed to the lower option of the Consumer Price Index or the Wage Price Index, and that change will be backdated a year, which will save students and graduates hundreds or thousands of dollars. Additionally,…
Merlino said patronage at his other venues – Kittyhawk, Big Poppa’s and The Lobo – remained at similar levels to last year, but people were spending less. However, he said the cost of energy and insurance was “through the roof”, while wages, food and alcohol continued to rise. “I think there is trepidation with winter…
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n recent weeks, we have been alerted to a string of gambling-related suicides and other forms of deep distress resulting from the illegal practice, including the case of a woman who set fire to her own husband for gambling away their fortune. Eko Damara, a first lieutenant with the Indonesian Navy, reportedly… Read the original…
Getty Images Zhongzhi lent billions to China’s crisis-hit property developers A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts. On Friday, a Beijing court accepted the application from Zhongzhi Enterprise Group (ZEG), which has lent billions to real estate firms. Chinese officials launched an investigation…
The Transport Workers Union says administrators of Rex Airlines expect up to 610 jobs to be axed after the carrier entered into voluntary administration. Its fleet of Boeing 737 jets, which provide services between the major capital city airports, have all been grounded. Rex’s regional services will continue to operate. A statement posted to the…
More than three million Australians, including thousands of students throughout the Hunter, are expected to have their HECS debt slashed in this month’s budget, to the tune of a collective $3 billion. This move is designed to reduce cost-of-living pressures, as well as the hesitation of young people to enter higher education. Every June HECS…
Express Inc., the clothing retailer that’s a staple in US malls, filed for bankruptcy with plans to sell itself. The company received an offer from brand manager WHP Global and mall landlords Simon Property Group Inc. and Brookfield Properties to purchase the company’s operations and most of its stores, according to a statementBloomberg Terminal on…
A slowing economy and rising costs pushed a record number of businesses into insolvency last month, but the overall number of jobs fell by just 6600, supporting data suggesting smaller firms were hit hardest. The unemployment rate edged from 3.7 per cent to 3.8 per cent as people seeking work increased to 20,600, largely driven…