Weekly Digest – 17 April 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Australia’s economy: A mixed bag with signs of slowdown

Amidst a backdrop of economic intricacies and evolving market dynamics, Australia’s fiscal landscape is both nuanced and volatile. As the Reserve Bank of Australia (RBA) maintains a cautious stance, retaining the cash rate in its recent deliberations, the nation’s economic indicators paint a mosaic of mixed fortunes across various sectors.

Imagine an Australia without successful businesses

Business Council Chief Executive Bran Black argues that Corporate Australia has become the national punching bag, but that successful large businesses underpin our way of life. Australian business doesn’t always get it right. Like anyone, businesses can make mistakes, and when they do they need to make things right. But business cannot permanently live on the backfoot because there are so many fundamentally positive ways in which it contributes to our society.

Chinese investment in Australia plunges to record lows

Chinese investment in Australia has plunged to its lowest level in almost two decades, excluding the pandemic years, and is expected to continue to contract as the world’s second-largest economy slows.

NAB CEO speaks at Trans-Tasman Business Circle on the economy, scams & fraud and AI

At a Trans-Tasman Business Circle Event in Auckland, NAB Group CEO Andrew Irvine shared his views on Australia and New Zealand, and what economic, business and technology opportunities present for both nations.

Australians told to stay ‘incredibly alert’ with superannuation fund scams on the rise

Australians have been warned to stay on top of their superannuation accounts after a huge rise in scams targeting the funds. Aware Super says it has seen a 208 per cent increase in attempted frauds over the last six months, with the fund preventing $36 million in losses in the past year.

New Commonwealth Bank data shows ‘rentvest’ trend on the rise for home buyers

Aussies are battling explosive house price growth with a smart new trick that means they can buy a property without moving out into the boondocks. Called ‘Rentvesting’, it’s the strategy to buy a property in a comparatively affordable suburb but then live in a rental in a more desirable area.

Will a tougher grocery code put downward pressure on prices?

Australia’s major supermarkets could face greater scrutiny and significant fines for major breaches of the grocery code if recommendations laid out in a new report are adopted.

Gen Z: The ‘difficult’ generation businesses need to hire

Generation Z is expected to represent 2 billion people worldwide and 27 percent of the workforce by 2025. Yet, Gen Z have been dubbed the ‘most difficult generation to work with’, according to HR sources.

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