Business News Australia reports on business news, trends, and profiles for Adelaide business owners, executives and entrepreneurs.

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your business.

The promise of faster, more reliable internet will allow businesses to entirely operate from the cloud, eliminate geographic borders, use flexible working strategies for better productivity, and integrate their commu...

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INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

AN influx of international retail brands into Australia over the next five years are expected to push up demand for floor space, says CBRE head of research for Australia, Stephen McNabb.

The retail commercial property sector is attracting keen interest, despite a modest rental growth of 1-2 per cent forecast in the year ahead, according to CB...

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WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent premium over the ASX200, a new index has found. The Employee Ownership Australian Index (EOAI) reveals that companies which are at least 30 per cent owned by employees tend to have better environmental, social and governance stand...

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RISE OF THE MACHINES HAS WORKERS SWEATING

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown.

Airtasker's 2017 Future of Work study revealed that around 16 per cent of Australians believe their current role will be made redundant by a machine within the next five years, with 71 per cent of the population believing ...

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LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector's priorities says Australian Small Business and Family Enterprise ombudsman (ASBFEO) Kate Carnell.

Carnell wants action on issues such as business tax cuts, competition reform, unfair contracts, government procurement ...

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TEST DRIVE A POST GRAD AT BOND

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving' will help you figure that out quick smart.

Bond Business School is offering a Postgraduate Test Drive, for those who are curious, but not yet committed.

A test drive like none other, Bond Business School offers complimen...

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ALIBABA'S AUSTRALIAN 'GOLD MINE'

ALIBABA'S AUSTRALIAN 'GOLD MINE'

CHINA-based ecommerce giant Alibaba has launched its Australian and New Zealand headquarters in Melbourne.

The online marketplace, similar to eBay but esteemed as Amazon, takes in more than 12.7 billion orders a year from 430 million users.

Jack Ma, Alibaba group founder and executive chairman, was in Melbourne at the weekend to launch the...

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MASTERS LIQUIDATION PULLS DOWN DECEMBER RETAIL TRADE FIGURES

MASTERS LIQUIDATION PULLS DOWN DECEMBER RETAIL TRADE FIGURES

THE FIRESALE that marked the closure of the Masters brand has been blamed for pulling down retail trade figures for December. Retail turnover declined 0.1 per cent in December 2016 to $25.6 billion (seasonally adjusted) compared to November according to the latest Australian Bureau of Statistics retail trade report. Year on year, growth was ...

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BHP'S IRON ORE OUTPUT AT RECORD HIGH, COPPER PRODUCTION DROPS

BHP'S IRON ORE OUTPUT AT RECORD HIGH, COPPER PRODUCTION DROPS

DESPITE a fall in BHP's copper output, the company announced today record production of 118 million tonnes of iron ore for the last six months of 2016, up four per cent from the previous year.

"We have performed well during a period of higher prices, with record iron ore volume achieved in Western Australia Iron Ore," says chief...

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CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal in Australia.

The company's co-founder, Greg Roebuck, who has been MD and CEO of Carsales since 2002, announced his retirement yesterday,  the same day global auto-industry powerhouse Cox Automotive completed its merger...

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BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains made at the end of 2016, according to the latest SENSIS research.

In December, the SENSIS Business Index was seven points up on the previous year at +46 - a six-year high - and the chief executive officer, John Allan, says exp...

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BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

VEGEMITE is back under Australian ownership after Bega Cheese (ASX: BGA) agreed to buy Mondelez International's Australia and New Zealand grocery and cheese business for $460 million.

The business includes brands such as Vegemite, ZoOSh and Bonox and KRAFT-branded products such as peanut butter, processed cheese slices, mayonnaise, parmes...

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CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institute Index of Consumer Sentiment, despite low interest rates and rising equity prices in the lead up to the New Year. The index rose by just 0.1% in January, from 97.3 in December to 97.4, failing to make up for the 3.9 per cent ...

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WINDSCREEN COMPANY SMASHED WITH BIG FINE FOR UNDERPAYING WORKERS

WINDSCREEN COMPANY SMASHED WITH BIG FINE FOR UNDERPAYING WORKERS

AN Adelaide car windscreens company and its director have been penalised almost $85,000 after exploiting seven employees, including one who was paid a flat hourly rate of just $12.50 for a period of 10 years.

Complete Windscreens - which specialises in windscreen repairs, fitting and tinting - has been penalised $73,425 and its part-owner and...

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RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whether the operators have the proven expertise and experience to genuinely help budding entrepreneurs.

Jock Fairweather (pictured), director of co-working space Little Tokyo Two and accelerator program Thunder Lizards, claims t...

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SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses are leading the way following strong sales performances during December, particularly in the hospitality sector.

Chief executive of Tyro, an independent EFTPOS banking institution, Gerd Schenkel, says that based on customer ...

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KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, says the latest Hays Quarterly Report for January-March 2017, making them among the most in-demand in the labour market.

Hays Australia and New Zealand managing director, Nick Deligiannis, says employers are looking to add value...

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FEMALE ENTREPRENEURS GET SPRINGBOARD TO GROWTH

FEMALE ENTREPRENEURS GET SPRINGBOARD TO GROWTH

DESPITE the fast-growing number of women studying STEM subjects at school and university, women continue to be underrepresented as tech entrepreneurs, and that is something the Springboard Accelerator Bootcamp is aiming to change.

Springboard is an entrepreneur accelerator for women that was founded in the United States 16 years ago and ...

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VALVE BLOWS STEAM FOLLOWING $3 MILLION FINE

VALVE BLOWS STEAM FOLLOWING $3 MILLION FINE

THE Federal Court has ordered Valve Corporation to pay a $3 million penalty for breaching Australian Consumer Law for misleading its customers about its refund policy. In March last year the Court found Valve made false or misleading representations to consumers through its popular platform Steam, an online gaming hub which has attracted ...

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WHY AUSTRALIA SHOULD GIVE UP USING EUROPEAN NAMES FOR ITS FOOD PRODUCTS

WHY AUSTRALIA SHOULD GIVE UP USING EUROPEAN NAMES FOR ITS FOOD PRODUCTS

IS IT worth finding new names for cheeses such as Feta, Brie, Camembert, Parmesan and Stilton to gain an advantage in trade negotiations? Bond University Professor William Van Caenegem believes it could be, and, once the confusion over cheeses settles, there could be some big benefits for the country's agriculture industry. Caeneg...

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ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

ACCC TO DRIVE A WEDGE IN AIRLINE PARTNERSHIP

A MAJOR pending partnership between national airlines is under fire, as the Australian Competition and Consumer Commission (ACCC) proposes to deny its authorisation. The partnership in question, between Virgin Australia Airlines, Virgin Australia Regional Airlines (VARA) and Alliance Aviation Services (ASX: AQZ), proposes to give the airl...

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NUROFEN FALSE ADVERTISING FINE INCREASED TO RECORD AMOUNT

NUROFEN FALSE ADVERTISING FINE INCREASED TO RECORD AMOUNT

RECKITT Benkiser has been slogged an extra $4.3 million by the Federal Court for misleading advertising of its Nurofen Specific Pain products after an Australian Competition and Consumer Commission (ACCC) appeal against the penalty was upheld.

The UK-based company must now pay a revised penalty of $6 million - the highest recorded for mislead...

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SIMON SINEK TO TOUR AUSTRALIA IN MARCH

SIMON SINEK TO TOUR AUSTRALIA IN MARCH

LEADERSHIP guru Simon Sinek (pictured) will be the headline speaker at the Start With Why Leadership Forum in March 2017.

Business News Australia readers have the chance to take up a special ticket offer for the forum, hosted by the Growth Faculty, which has a run of dates across Australia and New Zealand.

Sinek's book is a cont...

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BIG BUSINESS LEADS THE WAY IN BOARD GENDER DIVERSITY

BIG BUSINESS LEADS THE WAY IN BOARD GENDER DIVERSITY

THE top 20 ASX companies are paving the way for gender balance on corporate boards with the latest report from the Australian Institute of Company Directors (AICD) finding that women now make up 30 per cent of ASX top 20 board positions.

Among the broader ASX 200, women now account for 25 per cent of board positions, substantially up from 200...

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CONCERNS OVER ECONOMY HIT CONSUMER CONFIDENCE AHEAD OF CHRISTMAS

CONCERNS OVER ECONOMY HIT CONSUMER CONFIDENCE AHEAD OF CHRISTMAS

CONSUMER confidence has dropped to its lowest level in six months, the latest Westpac Melbourne Insitute of Consumer Sentiment Index shows.
It fell by 3.9% in December from 101.3 in November to 97.3 in December.

Westpac's Chief Economist, Bill Evans (pictured), says the result is a jolt to the previous air of stability and confidence.

...

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HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it changed the game for fast food when it arrived in this country 45 years ago.

The first restaurant, at Yagoona in south west Sydney, was non-descript compared to today's standards, but it was one of the first steps towards what ...

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BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

BMW BOOKED BY ASIC IN RECORD $77 MILLION COMPENSATION SCHEME

LUXURY vehicle brand BMW has agreed to pay its dues following a five-year string of lending failures which resulted in hardship for consumers. ASIC accepted an enforceable undertaking from BMW Finance, which will see the car dealer implement Australia's largest consumer credit remediation program to the tune of $77 million. The re...

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NEW LOOK ADELAIDE MALL ATTRACTS NATIONAL PLAYERS

NEW LOOK ADELAIDE MALL ATTRACTS NATIONAL PLAYERS

A NEW look Citi Centre Arcade in Adelaide has snared a number of high profile lease deals, including McDonald's and Westpac. The facelift features a glass entrance to the arcade's Rundle Mall entry, a canopy upgrade and new public facilities. Two tenancies have been combined to create a new 177sqm site which has been leased to...

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JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Guys. The takeover brings together two of Australia's largest electronics retailers and accelerates JB Hi-Fi's move into the whitegoods market. Announced in September, the deal will see JB Hi-Fi's network increas...

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ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in misleading or deceptive conduct between the dates of November 2014 and October 2015.

The Australian Competition and Consumer Commission (ACCC) will tell the Federal Court that Meriton attempted to rig the feedback on its Trip Adv...

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