Category: Bussiness

That gross revenue figure was up from $7.2 billion in 2021, and $5.2 billion in 2020, $4.8 billion in 2019, $4.2 billion in 2018, and $3.5 billion in 2017. Instead, it has posted the snapshot of revenue its local entity had a hand in – $2 billion in total, comprised of $808.4 million in advertising...

The accounts reveal Facebook paid its overseas affiliates $100 million more last year than it did in 2022 for “purchases of services”, up to $1.14 billion from $1.03 billion. Funnelling more money offshore meant locally reported revenue fell to $209 million in 2023 from $224.6 million the year before. Its local spending on professional services,...

Congress passed the law because a majority of its members fear TikTok could be used to influence the opinions of and collect data on Americans by ByteDance at the behest of the Chinese Communist Party. But it only covers TikTok in the US, not Australia, and TikTok has rejected those claims. Coalition home affairs spokesman...

In short: Woodside’s chair says he’s disappointed shareholders have rejected the energy giant’s climate plan. The climate transition action plan sets out a path for the company to reduce its emissions. What’s next? The vote is not binding on the company, but serves as a sharp sign of investor discontent. Woodside shareholders have rejected the company’s climate plan...

In short: Perth builders Collier Homes was placed into liquidation earlier this week, after more than 60 years in operation. It is the latest in a series of building company collapses that have plagued the industry nationwide since the COVID pandemic. The WA government said it stood by its post-COVID stimulus packages that ‘turbo-charged’ the market....

A huge national company, which is a major supplier to the building industry, has fallen into voluntary administration after it racked up debts of $20 million. Lutum is one of three manufacturers of roofing tiles in Australia and employs approximately 150 people. It supplies roofing tiles and masonry products across Australia with manufacturing sites in...

The US’ consumer protection body the Federal Trade Commission has voted to ban for-profit US employers from making employees sign agreements with ‘non-compete’ clauses. The ban could affect tens of millions of workers, and US President Joe Biden welcomed the decision: “The FTC is cracking down on ‘non-compete agreements,’ contracts that employers use to prevent...

News from Marine Safety South Australia – April 2024 It’s school holidays! Remember to operate with extra caution while around others on your local waterways as this time of year is always busy! When you’re out on the water, it’s important to keep these rules in mind: 4 knot speed limit within 30 m of...

One of Western Australia’s biggest residential building companies has collapsed, with Collier Homes falling into liquidation after more than 60 years. The Australian Securities and Investment Commission confirmed the company would shut down, with Robert Conry Brauer and Linda Methven Smith, from McGrath Nicol, appointed as liquidators. Collier Homes was created in 1959 by Raymond...

The sailing squad for Australia’s 2024 America’s Cup challenge in the Unicredit Youth and Puig Women’s competitions in Barcelona has been announced, with a combined team of 13 sailors including several Olympic and Sail GP athletes. The final Team Australia Challenge combined squad members are Tash Bryant, Nina Curtis, Lisa Darmanin, Miles Davey, Jack Ferguson,...

Australians were slugged a combined $304.8bn in Commonwealth income tax payments in the year to June 2023, its highest level ever, with revenue gushing into Treasury coffers due to near-record low unemployment, elevated wages growth and bracket creep. The average Australian 15 years and over paid $13,980 in Commonwealth income taxes over the 2023 financial...

Barefoot Investor Scott Pape has shut down theories Australia will go completely cashless, making the bold prediction that Aussies may be slapped with a ‘surcharge’ when using notes and coins in the future. The finance guru made the claim when responding to a reader’s concerns about the country’s move towards digital payments in his weekly...