VIRGIN NARROWS LOSS WITH COST CUTS

VIRGIN NARROWS LOSS WITH COST CUTS

VIRGIN Australia Holdings (ASX:VAH) has tapered its underlying loss before tax to $36.9 million in the fourth quarter, as Tigerair's performance starts to take off. The result represents a $46.2 million improvement since the previous corresponding period, or $72 million including Tigerair on a like-for-like basis. For the financia...

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TECHNOLOGY PAVES WAY FOR GEN Y INVESTORS

TECHNOLOGY PAVES WAY FOR GEN Y INVESTORS

MORE generation Y investors are choosing to invest in the sharemarket compared to 20 years ago, according to CommSec. The stockbroking firm analysed share trading and economic trends over the last two decades, as part of its 20 year anniversary. Data shows investors are entering the sharemarket at an earlier age with 28 per cent of 25...

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WHICH TERM DEPOSIT HAS MORE BANG FOR BUCK?

WHICH TERM DEPOSIT HAS MORE BANG FOR BUCK?

WITH record low interest rates, investors are turning to term deposits to get more bang for their buck according to CANSTAR. The financial ratings provider assessed 99 term deposits from 76 different financial institutions to compare value for money. ME Bank came out on top after striking a winning balance between high interest rates ...

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GENERATION EXPENSIVE DEEMED FINANCIALLY UNFIT

GENERATION EXPENSIVE DEEMED FINANCIALLY UNFIT

RELYING heavily on debt, failing to accumulate savings and being forced to buy into high-cost housing comparative to income, it's no wonder Australians in the prime of their working lives are finding it tough.

The Financial Fitness at Tax Time Report compiled by Bankwest has revealed that approximately 35 per cent of Gen-X Australians are...

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RACING QUEENSLAND IN THE RED

RACING QUEENSLAND IN THE RED

RACING Queensland's debt is on track to more than double this financial year, with the State Government launching a taskforce to stem losses. The industry board posted a $12 million loss in 2014-15 and has forecast a deficit of $28 million in 2015-16. A broad consultation process will be conducted in coming months with key stakeho...

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CONSTRUCTION JOBS BOOST OUTLOOK

CONSTRUCTION JOBS BOOST OUTLOOK

EMPLOYERS in the construction industry plan to boost their headcount whereas hiring in engineering and financial services will fall flat, according to Michael Page. Findings from the recruiter's 2015/16 Australia Salary and Employment Outlook show hiring levels have been average, but are expected to improve in 2016. Despite overall...

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NVC ONE STEP CLOSER TO LISTING

NVC ONE STEP CLOSER TO LISTING

BRISBANE vet venture National Veterinary Care (NVC) has launched an IPO to raise $30 million and start trading on the ASX. The move will see the management team take on their former employer Greencross Limited (ASX:GXL) to contest the $2.9 billion pet care industry in Australia. The offer opens on July 17 and closes on July 27 at $1 p...

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NEW MINIMUM WAGE RATE BEGINS

NEW MINIMUM WAGE RATE BEGINS

THE Fair Work Ombudsman has reminded employers about the increase in minimum wage entitlements from today. The start of the financial year signals the new rate for a fulltime adult is now $17.29 an hour, or $656.90 a week. Fair Work Ombudsman Natalie James says there are a number of online pay tools available, to check new pay rates a...

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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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DOLLAR NEEDS TO FREEFALL, SAYS BIS

DOLLAR NEEDS TO FREEFALL, SAYS BIS

AN ECONOMIC expert warns that many of our major industries could continue to struggle on a global scale if the dollar remains at current levels, arguing that recent falls are not enough to spark a revival in some sectors. Industry analyst and economic forecaster Dr Frank Gelber, of BIS Shrapnel, says the Australian dollar's strength d...

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DELOITTE FORECASTS STRONG GROWTH IN QLD

DELOITTE FORECASTS STRONG GROWTH IN QLD

THE outlook for economic growth in Queensland is positive despite subdued business sentiment brought about by a downturn in energy and resources commodity prices, according to Deloitte. The accounting firm has forecast 4.3 per cent growth in FY16, in comparison to 2.3 per cent growth in the previous period. Deloitte Queensland managin...

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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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SUNCORP BANK OUTSHINES BIG FOUR

SUNCORP BANK OUTSHINES BIG FOUR

SUNCORP Bank has beaten out the big four to be named Money magazine's Consumer Finance Bank of the Year. The Brisbane-based financial institution is the first non-major bank to take out the title since the award was launched in 2004. Suncorp Bank CEO John Nesbitt says the win was a testament to the team and he was proud to share t...

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PITCH TO A RIVER OF INVESTORS, SHARK INCLUDED

PITCH TO A RIVER OF INVESTORS, SHARK INCLUDED

IF you think you have what it takes to wow investors, and have the guts to face a Shark, nominations are now open for Queensland's most high profile investment event, RiverPitch.  

Applications are open until June 3 for startups nationwide to compete for a place in the June 19 line-up at Brisbane's New Farm Cinemas.

Seven...

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'SICKIES' LEAVING MANAGERS WITH A HEADACHE

'SICKIES' LEAVING MANAGERS WITH A HEADACHE

ONE in five small business managers regularly suspect employees of 'pulling a sickie' after hearing every excuse in the book, according to Canstar Blue. The consumer research company surveyed more than 800 managers with less than 20 employees to determine the most common reasons for absenteeism. The majority of staff members s...

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TOP FIVE SIGNS: KNOW WHEN TO FOLD

TOP FIVE SIGNS: KNOW WHEN TO FOLD

STRUGGLING business owners should learn when to cut their losses and close the business instead of waiting until they are forced into it, according to RSM Bird Cameron. The accounting firm says owners will be more able to fulfil their salary obligations to employees by deciding to close the business before it fails completely. An earl...

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BUSINESS FRIENDLY BUDGET DOESN'T BOOST CONFIDENCE

BUSINESS FRIENDLY BUDGET DOESN'T BOOST CONFIDENCE

BUSINESS confidence ahead of the next financial year has taken a dip despite incentives announced in the Federal Budget, according to Dun & Bradstreet. The management consultancy's Business Expectations Survey shows business executives anticipate a weak third quarter on expected sales, profits, investment and employment levels. ...

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BLUE SKY RAISES $20M IN RIGHTS ISSUE

BLUE SKY RAISES $20M IN RIGHTS ISSUE

BLUE Sky Alternatives Access Fund Limited (ASX:BAF) is set to explore new investment opportunities after raising $20 million in a one for three rights issue. The capital will be used to build on the listed investment company's (LIC) managed portfolio of alternatives across private equity and venture capital, water and agriculture, hed...

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CARDNO DOWNGRADES PROFIT AFTER $200M HIT

CARDNO DOWNGRADES PROFIT AFTER $200M HIT

CARDNO Limited (ASX:CDD) has downgraded its full year profit forecast, following a $200 million hit as the company devalues its US operations. The infrastructure and environmental services consultancy has forecast its full year operating net profit after tax to be in the range of $48 million and $51 million. The guidance falls short o...

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EMPLOYERS WARNED OF APPRENTICE CRACKDOWN

EMPLOYERS WARNED OF APPRENTICE CRACKDOWN

THE Fair Work Ombudsman will crack down on hundreds of businesses that employ trainees and apprentices as part of a new national campaign. Up to 700 businesses in each capital city and regional centres will be targeted for auditing during the next three months. Fair Work inspectors will focus on employers of first-year apprentices in ...

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