SAME DAY SETTLEMENT ESSENTIAL FOR SMALL BUSINESS

SAME DAY SETTLEMENT ESSENTIAL FOR SMALL BUSINESS

SMALL businesses enjoying high trades on weekends and public holidays could be taking advantage of same day settlement. Often, businesses don’t see their weekend takings arrive in their bank account until mid-week, causing interruptions to cash flow and reliance on short term loans. With same day settlement businesses can get th...

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CONSUMER CONFIDENCE DOWN AFTER BUDGET SPECULATION

CONSUMER CONFIDENCE DOWN AFTER BUDGET SPECULATION

CONSUMER confidence has sharply declined by eight per cent in the last two weeks, linked to Federal budget policy leaks according to the ANZ. The ANZ-Roy Morgan weekly report shows a 4.2 per cent drop last week, coinciding with the Commission of Audit’s report and speculation around the deficit reduction levy. Chief economist Ivan Col...

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AURIZON LAUNCHES $1.4B JOINT TAKEOVER

AURIZON LAUNCHES $1.4B JOINT TAKEOVER

AURIZON Holdings Limited (ASX:AZJ) has lodged a $1.4 billion joint bid with a Chinese company to acquire all of the shares in Aquila Resources Limited (ASX:AQA). The rail freight operator and Baoshan Iron & Steel Co Ltd (Baosteel) has offered $3.40 in cash per share in an off-market takeover. Aurizon managing director and CEO Lance Hock...

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WESTSIDE REJECTS TAKEOVER

WESTSIDE REJECTS TAKEOVER

WESTSIDE Corp Ltd (ASX:WCL) has rejected a takeover bid by Landbridge Energy Australia, of 40 cents per share. The subsidiary of Landbridge Group Co, based in China, delivered the bidding statement to the coal seam gas producer on April 24. WestSide’s board of directors say the offer undervalued the company at $177.6 million, failing ...

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DEBT LEVY ISN'T THE SOLUTION: BCA

DEBT LEVY ISN'T THE SOLUTION: BCA

THE Federal Government’s plan to hit high income earners with a debt levy isn’t the way to tackle the fiscal problem, according to the Business Council of Australia. The budget submission 2014-15 proposes an extra one per cent tax for workers earning between $80,000 and $180,000 - and an extra two per cent for incomes above $180,...

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$600M SWEETENER FOR CRUISE CONSORTIUM

$600M SWEETENER FOR CRUISE CONSORTIUM

ASF Consortium, the front-runner to build the Gold Coast cruise-ship terminal, has vowed to take up the slack for the State Government with a pledge to splash out more than $600 million in infrastructure costs should it get the nod for the $5 billion Broadwater project. The move is another salvo by ASF Consortium aimed at sweetening the pot ...

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SWIMMING ALONG

SWIMMING ALONG

BRISBANE franchisor PoolWerx is enjoying growth well above industry trend, recently reporting an 8 per cent increase in revenue for the six months to January 1. The pool maintenance contractor, insurer and retailer is on track to exceed $75 million in sales, with retail sales up 12 per cent, excluding the impact of recent store openings. Th...

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BUSINESS LOAN BUILDS FANTASTIC PLASTIC BUSINESS

BUSINESS LOAN BUILDS FANTASTIC PLASTIC BUSINESS

ROYSTON Kent and his business partner Bob Halsall have borrowed about $750,000 to spend on infrastructure for the plastics manufacturing B&C Plastics as they have grown the business over the past eight years.

Kent and Halsall were working for an opposition company when they decided to pool their combined 43 years’ experience in t...

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TAX INSTITUTE PUTS PRESSURE ON GOVERNMENT

TAX INSTITUTE PUTS PRESSURE ON GOVERNMENT

 AN independent association for tax professionals, The Tax Institute, has called on the federal government to cut the company tax rate by 2 per cent. Included in the Institute’s 2014-2015 federal budget submission, was a request for a cut in the company tax rate as well as a reform of state taxes to create a more efficient tax system....

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GOVERNMENT UNDER PRESSURE TO CUT COMPANY TAX

GOVERNMENT UNDER PRESSURE TO CUT COMPANY TAX

 AN independent association for tax professionals, The Tax Institute, has called on the government to cut the company tax rate by 2 per cent. Included in the Institute’s 2014-2015 federal budget submission, was a request for a cut in the company tax rate as well as a reform of state taxes to create a more efficient tax system while bo...

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SOLID INCREASE IN BUSINESS SPENDING AND INVESTMENT CONTINUES

SOLID INCREASE IN BUSINESS SPENDING AND INVESTMENT CONTINUES

BUSINESSES are twice as likely to increase capital investment spending than cut costs in the next few months, according to a Dun and Bradstreet study. The latest Business Expectations Survey shows 19 per cent of businesses will increase spending in the second quarter, following a steady rise in spending over the last year. Almost 19 p...

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ANZ INVESTS $2 BILLION INTO SMALL BUSINESS

ANZ INVESTS $2 BILLION INTO SMALL BUSINESS

 ANZ will lend $2 billion to small businesses in the next year, to stimulate national enterprise and economic growth. The loans will be supported with business transaction accounts, merchant products, financial planning advice, foreign exchange and trade finance. General manager of small business Kate Gibson says it’s important to bac...

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TRANSPACIFIC OFFLOADS NEW ZEALAND BUSINESS

TRANSPACIFIC OFFLOADS NEW ZEALAND BUSINESS

 TRANSPACIFIC Industries Group Ltd (ASX:TPI) has announced it will sell its New Zealand business to a wholly owned subsidiary of the Beijing Capital Group for NZ$950 million (approximately A$880 million). Beijing Capital Group is one of China's leading state-owned infrastructure enterprises with specialist expertise in water trea...

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VITA GROUP STRONG ON THE BACK OF TELSTRA STORES

VITA GROUP STRONG ON THE BACK OF TELSTRA STORES

 TELECOMMUNICATIONS company Vita Group (VTG) has reported a 66 per cent boost in interim dividends following a strong first half result attributed to continued growth of the group’s Telstra stores. In the six months to December 31, 2013, VTG recorded an 18 per cent increase in earnings before interest, tax, depreciation and imp...

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LOAN REPAYMENT EXTENSION FOR DISCOVERY METALS

LOAN REPAYMENT EXTENSION FOR DISCOVERY METALS

DISCOVERY Metals (ASX:DME) has secured a further extension on its debt repayment obligations.

The company owes a total of $148.8 million on its Boseto Project Finance Facility and its Single Currency Revolving Facility Agreement.

It had already received an extension on the original repayment of US$17.5 million, (plus $2.2 million in...

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STRONG SALES BOOST BUSINESS CONFIDENCE

STRONG SALES BOOST BUSINESS CONFIDENCE

 SALES activity is expected to reach a ten year high, with 47 per cent of businesses positive about trade according to research from Dun & Bradstreet. The Business Expectations Survey shows the sales expectations index has risen for a third consecutive quarter to 37.5 points, the highest level since 2003. D&B chief Gareth Jones says...

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SOLID GROWTH PREDICTED FOR QUEENSLAND ECONOMY

SOLID GROWTH PREDICTED FOR QUEENSLAND ECONOMY

QUEENSLAND is expected to be the fastest growing state economy next financial year, says the latest Deloitte Access Economics Business Outlook report. The outlook report for December, which isn't available to the media, estimates the economy will grow 3.6 per cent this financial year and next. This compares favourably with the national economy, w...

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CUTTING COSTS AT CHRISTMAS

CUTTING COSTS AT CHRISTMAS

EMPLOYERS should enjoy Christmas at home, instead of trading unprofitably with holiday penalty rates according to Brisbane employment lawyer Ian Heathwood. Heathwood, of McKays Solicitors, says business owners in competitive industries like hospitality are on a “knife edge of survival” in a tight economy. “The combination of em...

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INFLATION WITHIN RBA TARGET

INFLATION WITHIN RBA TARGET

 INFLATION remains within the RBA’s target band, giving the Housing Industry Association (HIA) to predict interest rates will stay at historic lows. Consumer Price Index (CPI) figures for the December quarter released by Australian Bureau of Statistics this morning showed the price level rose by 0.8 per cent and underlying inflation b...

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SHAREHOLDERS HAPPY TO FUND CTD EXPANSION

SHAREHOLDERS HAPPY TO FUND CTD EXPANSION

SHAREHOLDERS of Corporate Travel Management (ASX: CTD) have backed the company’s expansion plans with their hard-earned dollars, with 97.71 per cent taking up the option to buy shares in the company’s capital raising offer. CTD announced a four for 27 renounceable rights issue for ordinary shares in CTD on November 20, at a pr...

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