Business Update – 12 July 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
One of biggest defence deals in Australia’s history inked in Berlin
Australia will export more than 100 Brisbane-made Boxer heavy weapon carrier vehicles to Germany starting in 2025 under a $1 billion deal. The military vehicles will be produced in Redbank and will secure around 1,000 jobs.
Gas ‘plays a role’ in the transition to renewables
Allan Gray Portfolio Manager Suhas Nayak says he thinks gas plays a role in the transition to renewables.
Farmers the winners as milk processors compete for supplies, forcing up returns
The price of a bottle of milk is expected to rise as major dairy processors continue to pay farmers more for their milk. This has been welcomed by farmers who have faced large rises in costs, bu there is likely to be more pain for shoppers,
Australia is battling a teacher shortage. This future graduate says a ‘huge flaw’ isn’t helping
Australia is facing a teacher shortage, and according to one future graduate, a major flaw in the system is not helping the situation. She said unpaid placement arrangements made it challenging for those wanting to complete a teaching degree.
What makes a comfortable retirement?
It’s complicated ..one of the most difficult things in answering your question is working out what you mean by ‘comfortably retire’.
Micro-businesses hit hardest by staffing woes: Report
In a bid to shed light on the ongoing labour shortage struggles, Small Business Loans Australia commissioned a comprehensive research study. The findings reveal more than two-thirds of businesses grappling to find suitable staff, and among the most affected are micro-businesses.
PwC Identifies Eight Partners Involved in Tax Leak
Eight partners have been shown the door by major consultancy firm PwC following a high-profile confidentiality breach involving secret federal tax information.
‘Cracks start to appear’: Sign Australian economy running out of steam as recession looms
Recent months have brought news of an economy that is contracting in per capita terms and of a retail sector that is seeing the volume of actual goods sold declining, despite the most rapid population growth in decades.
Regulators and industry join forces to combat investment scams
To target a problem that is costing Australians more than $1 billion a year, the country’s corporate and consumer watchdogs are teaming up with private industry to form an ‘investment scam fusion cell’ with a wide remit of activities to protect the public.
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