MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT SHARES RISE FOLLOWING STRONG QUARTERLY RESULTS

MEGAPORT Limited (ASX: MP1) has seen its share price rise by almost two per cent following the announcement of strong results for the June 2017 quarter. The group, who delivers internet connectivity solutions to businesses, saw their revenue for the June quarter increase by 18 per cent compared to the previous quarter to $3.47 million. ...

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NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific Data Centre (ASX: AJD) after it launched a fully funded $1.85 a share cash offer for the company. The takeover bid trumps the offer made by 360 Capital to acquire all the securities in APDC for $1.80 per share. NEXTDC CEO ...

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SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent research suggests that cash doesn't always talk. A study, commissioned by specialised recruiter Robert Half surveying 160 chief financial officers in Australia, shows more than 94 per cent of Australian CFOs have extended cou...

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WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Hastings Management, a global infrastructure-assets business with funds under management of about $14.3 billion. Charter Hall is considering the purchase of Hastings following the completion of due diligence and regulatory ...

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ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

ACCC TO SMALL BUSINESSES: REVIEW PAYMENT SURCHARGES NOW

SMALL business owners have been urged to review their payment surcharges ahead of the ban on excessive payment surcharges in force 1st September. The ACCC recommends small businesses assess their current surcharge models before the law comes into force, which limits the amount a business can charge customers for use of EFTPOS, MasterCard,...

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CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

CONTROVERSIAL BANK LEVY SHOULD BE APPLIED TO OTHER BIG BUSINESSES, BOURIS SAYS

THE BANK LEVY imposed on the so-called 'Big Five' should be extended to include all government-licenced companies with a turnover of $1 billion or more, according to Yellow Brick Road executive chairman Mark Bouris.

Speaking at the launch of 2017 Gold Coast Queensland Small Business Week, Bouris also says the money raised should be us...

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BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

BIS SAYS INFRASTRUCTURE BUDGET BOOST IS WELCOME, BUT LIKELY UNSUSTAINABLE

ANALYSTS say that the public infrastructure and construction industry has emerged among the clear winners from last Tuesday's budget, as BIS Oxford Economics forecasts imminent major growth across the sector. Funds allocated from the 2017 Federal Budget will help drive an estimated 30 per cent growth for the industry, which is already...

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BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

BANK LEVY ON BIG FOUR COULD DRIVE CUSTOMERS TO REGIONAL BANKS

THE BANK of Queensland (ASX: BOQ) is expected to be a major beneficiary of the Federal Government's bank levy which was introduced in Tuesday's Budget. The Government levy will raise $1.5 billion a year over the next four years, or around five per cent of the profits from the so-called 'Big Four' which includes Commonwealt...

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SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from the venture capital fund it has set up in partnership with Artesian Venture Partners and industry superannuation fund Hostplus.

This follows the SproutX pre-accelerator program, held in late 2016, where 110 startups and entr...

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SPIKE IN JOB ADS SUGGESTS MARKET ON THE MEND

SPIKE IN JOB ADS SUGGESTS MARKET ON THE MEND

FOLLOWING a rocky end to the financial year, the employment market has once again a boost as ANZ economists reveal a jump in the number of job listings posted nationally in August. Job advertisements bounced a solid 1.8 per cent to more than 160,000, despite a steep drop recorded for the previous month of July. While this slump may ha...

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AUSTRALIA, TIME TO GET REAL ABOUT TOUGH TIMES

AUSTRALIA, TIME TO GET REAL ABOUT TOUGH TIMES

THE European banking crisis remains a ticking time bomb and Australians need a reality check if they are to cope with another global financial crisis, according to former Commonwealth Bank CEO David Murray (pictured). The seasoned corporate executive, who chaired the federal government's inquiry into the banking system in 2014, has al...

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TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

TOURISTS CASHED UP AND HEADING FOR AUSTRALIA

INTERNATIONAL tourists flocked to Australia in FY16 with the tourism industry growing three times faster than the broader economy. Figures from Tourism Research Australia show there was a record 7.2 million international visitors in the 12 months to June 30, up 10 per cent on the previous year. The level of spending grew at a faster r...

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PERKS BRINGS ACCOUNTING FORWARD

PERKS BRINGS ACCOUNTING FORWARD

ADELAIDE firm Perks has developed a first to market solution for accountants and financial planners.

Xeppo, a cloud-based software, enables financial service providers to manage data relating to client's personal, wealth management and business portfolios on one platform.

The technology launched in 2015 at the LEA world conference in M...

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BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUDGET 2016: WHAT IT MEANS FOR BUSINESS

BUSINESS is at the forefront of the 2016 federal budget, with SMEs set to see their company tax rate fall to 27.5 per cent from July 1 this year. Treasurer Scott Morrison announced the company tax break in his first budget overnight, a further 1 percentage point reduction for small businesses with annual turnover less than $2 million. ...

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EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS URGED TO CHECK EASTER PAY RATES

EMPLOYERS are being urged to check the pay rates and entitlements that apply to their business over Easter, to avoid having egg on their face with Fair Work. Fair Work Ombudsman Natalie James says most underpayments are inadvertent and the result of employers failing to check their minimum obligations under workplace laws. "Wheth...

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WORKER OWED $22,000 AFTER PAY RATE BUNGLE

WORKER OWED $22,000 AFTER PAY RATE BUNGLE

AN Adelaide worker who was underpaid for almost seven years will receive $22,000 in back pay, following an intervention by the Fair Work Ombudsman. The receptionist and shop assistant was paid $15 an hour at a retailer on the Fleurieu Peninsula - the same rate as when she started as an 18-year-old in 2008. The employee contacted Fair ...

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DON'T BANK ON A RECESSION JUST YET, SAYS FORECASTER

DON'T BANK ON A RECESSION JUST YET, SAYS FORECASTER

THE Australian economy may have hit reverse gear in the June quarter, according to BIS Shrapnel, although don't bank on a recession just yet. Despite an overall upbeat view that the housing boom still has 18 months to run and that the end of the decade will bring better times, the economic forecaster has warned of a tough three years ...

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BENDIGO AND ADELAIDE BANK SITTING ATOP A TOUGH 2015

BENDIGO AND ADELAIDE BANK SITTING ATOP A TOUGH 2015

THE BENDIGO and Adelaide Bank (ASX: BEN) has boosted its figures, happily announcing a number of healthy upturns in their end-of-financial report despite a bygone year spent dealing largely within uneven market conditions.  Full-year cash earnings have been lifted by 13.1 per cent alongside underlying cash earnings at $432.4 million,...

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MOBIZONE SLUGGED WITH FINE IN COURT

MOBIZONE SLUGGED WITH FINE IN COURT

AN Adelaide phone repair company's attempt to ignore the Fair Work Ombudsman has resulted in a $550 fine turning into $5000. The Industrial Relations Court of South Australia penalised Mobizone Pty Ltd after it refused to pay the initial fine for allegedly breaching workplace law. The company must pay a $3500 penalty and business ...

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EMPLOYEES FAIL TO MAXIMISE TAX

EMPLOYEES FAIL TO MAXIMISE TAX

AUSTRALIAN workers could be missing out on a hefty return come tax time by failing to lodge all entitlements, according to Officeworks. A survey conducted by the office supplies chain found that more than half of employees are not taking full advantage of their tax time opportunity by not collecting receipts. Young Australians make up...

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FIVE WAYS TO SAVE MONEY AT TAX TIME

FIVE WAYS TO SAVE MONEY AT TAX TIME

WITH the end of financial year fast approaching, it's time to start thinking about our finances. But with tax rules changing every year, it can be a little confusing when trying to understand what you can and can't claim. Scott Baker, director of Mobbs Baker Wealth, says a few small considerations now can help save you money and unn...

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