Business Update – 31 August 2022

Weekly Business Update 31 Aug

Welcome back to our Weekly Digest. Read on for the latest updates during the past week!

Consensus emerging on how to fill gaps in the workforce

Big business is calling for a two-year boost to the annual migration intake of 220,000 for all jobs earning more than $90,000.

Qantas optimistic despite posting loss

Qantas revealed its full-year results last week – a $1.86 billion loss. Despite the poor showing for FY22, CEO Alan Joyce says the airline is moving back to profitability.

CBA adjusts home value predictions

The Commonwealth Bank of Australia’s latest figures suggest that home prices are about to drop faster than expected. The overall percentage drop in value is still expected to be about 15%, it will just arrive sooner than originally thought.

10 car-centric shopping districts reimagined

SmartCompany has created images of what 10 popular Australian shopping districts would look like if they were redesigned to reduce the number of cars and increase the space for pedestrians, cyclists, parklets, dining, and green space.

Prices expected to rise at the supermarkets once again

With a third La Nina on the horizon, experts predict that prices at the supermarket may skyrocket once again. As food availability decreases, prices will inevitably rise unless something is done to address the situation.

Mable adds employee-like benefits to business model

The at-home care provider is the latest in the gig economy to offer benefits like superannuation, sick leave, and minimum wage protections for its independent contractors. The change comes as Tony Burke declared that insecure work has spread like a “cancer” across Australia.

Poor mental health will eventually result in economic loss

A new report from the NSW Council of Social Service has found that lost productivity due to poor mental health will see a nearly $7.5bn loss in the New South Wales economy by 2025. Compounding natural disasters and the pandemic were the leading factors.

Bitcoin sheds 20% of its value in 7 days

After a brief rally recently, many people hoped that the crypto haemorrhage was finally over. However, Bitcoin’s value dropped by 20% in one week, likely due to inflation fears causing a rapid sell-off.

Five signs a building company might collapse

The building industry has had its share of hard times over the course of the pandemic. From cash flow to contracts, here are five signs a building company might collapse.

$1 servo staples are doubling in price

Gone are the days of getting your caffeine fix for $1 by pulling into the 7-Eleven. Many staples, including famously cheap coffees and slurpees, have suffered a huge price bump as the cost of living crisis worsens. You can save 50c by bringing in your own cup.

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The information in this newsletter / factsheet is factual but general in nature. It should not and is not to be construed as advice at any level whatsoever. Because it contains general information that has not been tailored to your personal circumstances it may not be suitable information for you. You must always seek personal financial or taxation advice prior to acting on this information. Further, as many of the comments in this newsletter / factsheet are general in nature, anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.

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