Business Update – 2 August 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Another 1.3 billion consumers will shop online by 2027
Online retailers should be gearing up for the addition of a further 1.3 billion consumers worldwide joining the ranks of online shoppers by 2027, says market research firm Juniper Research.
Not fair on consumers, not good for business’: Financial complaints hit new record
Consumers in dispute with financial firms lodged a record 96,987 complaints with the Australian Financial Complaints Authority (AFCA) in the 2022-23 financial year, representing an unprecedented rise of 34 per cent while the surge was higher still for buy-now pay-later (BNPL) customers and scam victims.
Family caught in insidious app hack
A family have revealed how they almost lost it all after hackers stole their identity after their MyGov account was hacked last year.
Speculation about Target’s future after $10bn mega merger with Kmart
After years of Target shrinking as Kmart soared, there is speculation a $10 billion mega merger could be the death knell for the struggling retail icon.
Seamless travel between Australia and New Zealand is one step closer
Prime Minister Anthony Albanese and his New Zealand counterpart Chris Hipkins today announced they will create a 12-month expert group to explore easier travel across the Tasman Sea. That working group will report back by the end of June 2024.
From coffee cups to takeaway containers, is the end of single-use plastics on the horizon? That depends on where you live
Each year, Australians consume close to 3.5 million tonnes of plastic, with single-use plastics making up about 30 per cent of that. Each year, WWF-Australia releases a scorecard assessing state and territory governments’ progress in phasing out 13 of the most problematic and unnecessary single-use plastic products.
Will modular reactors pave the way for Australia to embrace nuclear energy?
Can modular reactors actually get Australians to embrace nuclear energy after all these years of basically saying “not in my backyard”? And what are modular reactors anyway?
Tech Council of Australia to push for digital identity
The Tech Council of Australia has created a new working group designed to advocate for reform on both digital identity and digital credentials initiatives. The working group will be led by former NSW minister for customer service and digital government, Victor Dominello.
Details of 5,500 Google accounts handed over to Australian authorities
In one year, tech giant Google received over 6,300 requests from Australian authorities to disclose user data. Google ended up agreeing to 5,525 requests from Australian authorities, likely including law enforcement and online safety agencies.
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