New $66.1 billion stimulus package for businesses and households

New $66.1 billion stimulus package for businesses and households

The Federal Government has announced a third stimulus package targeted at those receiving government benefits and Covid-19 affected business. Included in the $66.1 billion package is support for Australia's households, and assistance for SMES struggling to pay their employees. It brings the total injected into the economy by the G...

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Lifeline for pandemic-hit small businesses with banks pausing loan repayments

Lifeline for pandemic-hit small businesses with banks pausing loan repayments

Australia's banks will defer loan repayments for all small businesses affected by Covid-19 for six months. According to Australian Banking Association (ABA) CEO Anna Bligh the measures to be taken by all Australian banks will deliver $8 billion back into the pockets of small businesses. The deferment option is available to any sma...

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APRA loosens up bank capital requirements

APRA loosens up bank capital requirements

Australia's bank capital targets monitored by the Australian Prudential Regulation Authority (APRA) are some of the strictest on the planet. But with the world as it is today APRA has decided to loosen things up a little bit and is letting banks eat into some of their large reserves to encourage lending. APRA's announcement th...

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RBA cuts cash rate to all-time low

RBA cuts cash rate to all-time low

The country's monetary policy will now have very little wiggle room after the Reserve Bank of Australia (RBA) made cut interest rates further in a bid to keep the economy afloat. The cash rate target has been reduced to 0.25 per cent until progress starts to be seen towards full employment. This latest move will be accompanied by ...

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ASIC restricts share trading

ASIC restricts share trading

First it was toilet rolls and pasta, but now some Australians may need to rein in their panic purchases (and sales) of stocks on the ASX as processing capacities are put under strain. The Australian Securities and Investments Commission (ASIC) will make institutional investors or large equity market participants cut their number of execut...

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How to manage revenue and pricing through the Covid-19 health crisis

How to manage revenue and pricing through the Covid-19 health crisis

As bonds tying the global marketplace together start to break free while authorities take precautionary measures to ride out the coronavirus outbreak, knowing how to respond is a great challenge for managers and business leaders. According to the International Air Transport Association (IATA), the air transport industry alone co...

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QSuper, Sunsuper move forward with talks for $195 billion merger

QSuper, Sunsuper move forward with talks for $195 billion merger

Two of Australia's leading superannuation funds have progressed negotiations towards becoming the country's leading player with assets under management (AUM) of $195 billion. QSuper and Sunsuper have today signed a Memorandum of Understanding (MoU) for exclusive due diligence to explore a deal. Sunsuper has the widest rea...

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Coronavirus slams the brakes on Australian manufacturing

Coronavirus slams the brakes on Australian manufacturing

A key indicator for the health of the Australian manufacturing industry has seen better days as coronavirus Covid-19 impacts almost every major sector. The Australian Performance of Manufacturing Index (Australian PMI) fell 1.1 points to 44.3 points in February, the first full month of the year to experience the full force of the Covid-19...

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Zip Co to raise $60 million for global expansion and SME business

Zip Co to raise $60 million for global expansion and SME business

Buy-now-pay-later (BNPL) company Zip Co (ASX: Z1P) entered a trading halt this morning before announcing a $60 million capital raising, issuing new shares at a 5.6 per cent discount to the last trading price. The group led by Larry Diamond (pictured) plans to use the funds to bolster global expansion in the UK; a move made possible b...

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DBRS Morningstar downgrade Westpac in light of transaction scandal

DBRS Morningstar downgrade Westpac in light of transaction scandal

The ripple effect of money laundering allegations at Westpac (ASX: WBC) continues to be felt with the bank's long-term ratings trend now called into question. Global credit ratings business DBRS Morningstar has downgraded Westpac's long-term ratings trend from stable to negative, citing "serious shortcomings in oper...

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Afterpay shares jump after final audit handed to AUSTRAC

Afterpay shares jump after final audit handed to AUSTRAC

The auditor notes Afterpay's compliance with its AML/CTF obligations was based on legal advice he believes to be incorrect from top tier Australian law firms. An independent audit of Afterpay (ASX: APT) has been handed to Australian authorities confirming the company's alignment with the Anti-Money Laundering and Counter-Terro...

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Prospa shares plunge on profit guidance downgrade

Prospa shares plunge on profit guidance downgrade

Shares in Prospa (ASX: PGL) have plummeted this morning after the small business lender announced 2019 earnings would be well below its prospectus forecast. Five months ago before the company's IPO it was expecting EBITDA of $10.6 million for the year, but that has today been slashed to $4 million. Meanwhile, revenue is expected t...

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Westpac to raise $2.5 billion for capital ratio buffer

Westpac to raise $2.5 billion for capital ratio buffer

One of Australia's leading banks is turning to the share market for $2.5 billion of extra breathing room so it can comply with higher capital ratio standards put in place in 2017. Westpac (ASX: WBC) shares entered a trading halt before announcing its net profit after tax (NPAT) for FY19 was down 16 per cent at $6.78 billion, and that ...

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Alternative data the next frontier for lending tech

Alternative data the next frontier for lending tech

"All the technology, processes and procedures that we build are constantly evolving, and I think that's what's separating us from the giants in our space and the legacy lenders," says Jacaranda Finance founder Daniel Wessels.  For most people the word association with "subprime" would be "mortgage cri...

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Australians ditch credit cards en masse for buy-now pay-later

Australians ditch credit cards en masse for buy-now pay-later

More Australians are embracing buy-now pay-later (BNPL) than ever before as giants like Afterpay (ASX: APT) and Zip (ASX: Z1P) continue to consolidate the market. New players in the sector are disrupting traditional financing methods with a BNPL model too, as seen with the recent launch of ListReady, a BNPL option for the real estate mark...

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OFX partners with Link Market Services for cross-border transactions

OFX partners with Link Market Services for cross-border transactions

Cross-border payments service provider OFX (ASX: OFX) has entered into an exclusive partnership with Link Market Services (ASX: LNK). The partnership will see OFX provide Link with an end-to-end digital cross-border payments solution that will improve Link's shareholding management platform. The service will initially be offered t...

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Hyundai joins Car Next Door in the fast lane

Hyundai joins Car Next Door in the fast lane

An Australian car sharing platform has received a $6.2 million investment from South Korean car manufacturer Hyundai. The capital injection brings the total amount invested in Car Next Door by Hyundai to $8.2 million. Hyundai Australia CEO JW Lee says the investment into the Australian startup further aligns the manufacturer with the ...

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Bellamy's shareholders hit jackpot with $1.5 billion takeover offer

Bellamy's shareholders hit jackpot with $1.5 billion takeover offer

Organic milk formula brand Bellamy's has received a takeover offer from a leading Chinese dairy producer. The proposed deal values the Australian brand at approximately $1.5 billion, and a material premium of 59 per cent compared to the company's last closing share price. Under the deal, shareholders would receive $13.25 cash ...

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ASX comes knocking as iSignthis share price dives on Ownership Matters report

ASX comes knocking as iSignthis share price dives on Ownership Matters report

The last 48 hours have been a rollercoaster for the share price of iSignthis (ASX: ISX). After hitting a high of $1.66 on 11 September it suddenly crashed to a low of $0.99 the following day.  The initial spike can be attributed to the company's market update for gross processed transaction value (GPTV), which on an annualise...

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Silver Chef takeover heats up as Blue Stamp demonstrates its worth

Silver Chef takeover heats up as Blue Stamp demonstrates its worth

The battle for the heart of Silver Chef (ASX: SIV) is fast becoming an episode of The Bachelor, with the company's two suitors turning up the heat over the last two days. In one corner there is Next Capital, an investment firm looking to acquire Silver Chef's hospitality business after previous attempts to take over the entirety o...

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