Business Update – 10 July 2024

Business Update – 10 July 2024

Close-Up Shot of Keys on a Red Surface

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

‘Rippling effect’: 3000 companies collapse

Despite a desperate demand for new homes, the “rippling effect” of an economic downturn has seen a staggering number of building companies go bust in the past year with nearly 3000 failing.

Mortgage holders reducing monthly repayments adding years to borrowing term

Mortgage holders reducing their monthly repayments to cope with rising interest rates could be adding hundreds of thousands of dollars to their debts. Thirteen per cent of Australian mortgage holders have extended the length of their home loan in the last 12 months, according to a new survey conducted by Finder.

How 29 forecasters see Australia’s economic recovery in 2024-25

A panel of economists expects rate cuts in early 2025, with persistent inflation expected to fall into the RBA’s target band by June next year.

Millions of dollars are flowing into a sector ‘doing good’ for society. A new scheme aims to keep things on track

Australians are increasingly seeking out businesses that prioritise social and environmental good, driving a boom in what is called the “social enterprise” sector.

Australian equity market cleanliness a crucial ASIC priority

Supervising the integrity of Australia’s equity markets is one of ASIC’s most important functions. Our market is among the cleanest in the world, and we are constantly seeking out any misconduct. While we are targeting leaks ahead of market announcements and insider trading, listed entities have a role to play in protecting their confidential information and reporting misconduct to ASIC.

Weak spending drives SA economic slowdown says new report

A drop in business investment, declining employment levels and weak household incomes are causing a South Australian economic slowdown according to a University of Adelaide report.

Celebrate superannuation, but beware the untold pitfalls

The compulsory superannuation scheme ultimately benefits working Australians, but there are a few things to be mindful of. Stephen Koukoulas breaks down what you need to be wary of regarding your super.

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