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Welcome back to our Weekly Business Update. Read on for the latest updates from the week.

We also wish everyone a very merry, safe and relaxing Christmas and New Year break and we’ll be back next year with all the latest!

Kevin Rudd is the next ambassador to the US

Kevin Rudd will serve as Australia’s next ambassador to the United States. Anthony Albanese said Rudd’s appointment would strengthen Australia’s diplomatic capability and prosecution of national interests around the globe.

Twitter users believe Elon Musk should step down

A Twitter poll created by Elon Musk asked whether he should step down as head of Twitter. Most respondents voted yes.

RBA defends its most recent cash rate rise because it could have been worse

Earlier this month, the central bank pushed the cash rate by 25 basis points to 3.1 per cent. However, they said that returning to interest rates rises of 50 basis points isn’t out of the question for the new year.

Jan. 6 committee recommends criminal charges

The January 6 Committee recommended that the Department of Justice look into four people, including former President Trump, for obstruction of an official proceeding, conspiracy to defraud the United States, and assisting, aiding, or comforting an insurrection.

185-year-old David Jones brand coming back under Australian ownership

Australian department store chain David Jones will be back under Australian ownership after being bought by a private equity firm. South African-based Woolworths Holdings Limited bought David Jones in 2014 for $2.1bn.

FTX founder agrees to extradition

Sam Bankman-Fried has agreed to voluntary extradition to the United States from the Bahamas, with his next court appearance expected to happen this week. He was charged with eight counts of wire fraud and conspiracy.

Help with energy bills is on the horizon

Australians are being warned that relief from soaring power prices could take months to flow through. But help is at hand with $3 billion in electricity bill discounts from next April.

The ‘regional renaissance’ brought on by Covid-19 has slowed, but it hasn’t stopped

The PropTrack Regional Australia 2022 Report found Queensland remained the most popular destination for those looking to relocate within Australia. The biggest growth in demand per listing is in the Darling Downs-Maranoa (+51%), Cairns (+25%), Toowoomba (+17%) and Mackay-Isaac-Whitsunday (+17%).

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Oracle Accounting & Wealth is located at Suite 31, 89-97 Jones Street ULTIMO NSW 2007. Phone: 02-9715 2977

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Disclaimer

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.