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

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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SURVEY PREDICTS THE BULK OF SANTA'S BILLIONS FOR KIDS

SURVEY PREDICTS THE BULK OF SANTA'S BILLIONS FOR KIDS

AUSTRALIA is set to splurge more than $48 billion in retail stores this Christmas, with electronic product makers and big name brands expected to pocket the lion's share when it comes to gifts for children. According to the Roy Morgan's Young Australian Survey, kids are chasing nothing but the best in 2016, with products from...

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ACCC FIRES WARNING SHOT TO IVF PROVIDERS

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC) over widespread misleading advertising techniques. In general, the ACCC expressed concern over the use of technical medical terms in advertising which can confuse the ordinary person, as well as selective reporting of birth ...

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BIG W CEO QUITS AFTER 11 MONTHS

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount chain store owned by Woolworths Group. David Walker, who previously led the now dismantled Woolworths' home improvement businesses, will replace McDonald in the interim. McDonald first joined BIG W in January this year...

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CHINA RELEASES ONE DETAINED CROWN CASINO EMPLOYEE

CHINA RELEASES ONE DETAINED CROWN CASINO EMPLOYEE

ONE of the 18 Crown Resorts (ASX: CWN) employees detained in China over suspected gambling related crimes has been released on bail, the company has confirmed. Crown did not identify the employee, but The Australian newspaper reported that Jenny Jiang, a Chinese national who worked as an executive assistant for the company, was released o...

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RESTAURATEURS TO FEAST ON CHRISTMAS SPENDING SPLURGE

RESTAURATEURS TO FEAST ON CHRISTMAS SPENDING SPLURGE

RETAILERS are expecting Christmas sales to rise to $48.1 billion this year, a 2.3 per cent increase on 2015, according to the Australian Retailers Association (ARA) and Roy Morgan Research. ARA executive director, Russell Zimmerman, says sales have been trending upwards, which gives retailers confidence that there will be robust sales over t...

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MARKET FINDS POSITIVES IN TRUMP ELECTION

MARKET FINDS POSITIVES IN TRUMP ELECTION

THE ASX has had its best day in five years in the wake of Donald Trump's election as the United States President.

Investors are seeing the positives of Trump's planned tax cuts, infrastructure spending, cuts to green energy subsidies, and his plan for tariffs on Chinese goods and more aggressive approach to international trade.

Min...

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MILLENNIAL STEREOTYPES SMASHED IN NEW REPORT

MILLENNIAL STEREOTYPES SMASHED IN NEW REPORT

MEET the millennials: they can't hold down a job, flee from financial responsibility and choose fun over stability - or so the world would have you believe. But a new report by CBRE reveals the stereotype may be a far cry from reality, with results showing the generation shares the same long-term lifestyle priorities as its older counterpart...

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DICK SMITH WARNS OF ALDI DANGER

DICK SMITH WARNS OF ALDI DANGER

DICK Smith has warned that ALDI will send either Coles or Woolworths out of business unless the two Australian companies undergo a radical overhaul and reduce local staff.

The day after Woolworths announced it would not renew its contrct with SPC Ardmona to supply private-label tinned tomatoes, Smith (pictured) launched his tirade.

"D...

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BUSINESSES URGED TO TAKE ASIA OPPORTUNITY

BUSINESSES URGED TO TAKE ASIA OPPORTUNITY

AUSTRALIAN businesses could gain $138 billion in revenue by acting on expansion plans into Asia, says the latest ANZ Opportunity Asia report.

The report, based on a survey of 1,000 Australian businesses, shows that those who acted on expansion plans into Asia found it easier than expected, and reaped increased revenue.

ANZ group executive,...

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