Sunday, 25 February 2018 Sydney
RSS
Connect
Newsletter

Invest In Australia News::

  • 26th NSW-Guangdong Joint Economic Meeting a success

    The NSW-China economic relationship has entered a new era following the 26th NSW-Guangdong Joint Economic Meeting (JEM), which focused on growing both economies through innovation.

    Premier Gladys Berejiklian and Guangdong Governor Ma Xingrui signed a Joint Statement at the JEM, setting a clear agenda for the NSW-Guangdong Sister State relationship into the future.

    “The Joint Statement we have signed commits us to collaboration across health, education, financial services and smart cities. It will shape the NSW-Guangdong relationship for years to come,” Ms Berejiklian said.

  • GSK and Novartis in court for alleged misleading representations

    The ACCC has instituted proceedings in the Federal Court of Australia against GlaxoSmithKline Healthcare Australia Pty Ltd (GSK) and Novartis Consumer Health Australasia Pty Ltd (Novartis), alleging they made false or misleading representations in the marketing of Voltaren Osteo Gel and Voltaren Emulgel pain relief products.

    The ACCC alleges that Novartis and GSK represented that Osteo Gel was specifically formulated for treating osteoarthritis conditions, and was more effective than Emulgel to treat those conditions, when the two products are identically formulated.

  • Economy grows 0.6 per cent in September quarter

    The Australian economy grew 0.6 per cent in seasonally adjusted chain volume terms in the September quarter 2017, according to figures released by the Australian Bureau of Statistics (ABS) today. 

    Chief Economist for the ABS, Bruce Hockman, said: “Increased activity in both private business investment and public infrastructure underpinned broad growth across the industries.”

  • Labor has a history of selling government businesses – at least ten government businesses sold between 1998 and 2014

    It’s clear that Labor is considering selling off more tax payer owned businesses to prop up their election spending.

    This morning Michelle O’Byrne admitted on radio that Labor would consider selling TasNetworks.

    Scott Bacon’s forced denial was too little too late, because as we all know with Labor you can’t trust what they say, instead you need to look at their record.

    Between 1998 and 2014 Labor sold at least ten government businesses, including:

  • Retail turnover rises 0.5 per cent in October

    Australian retail turnover rose 0.5 per cent in October 2017, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. 

    This follows a 0.1 per cent rise in September 2017.

    "In seasonally adjusted terms, there were rises across all industries led by cafes, restaurants and takeaway food services (1.7 per cent)," the Director of the Quarterly Economy Wide Survey, Ben James, said. 

    There were also rises for food retailing (0.3 per cent), clothing, footwear and personal accessory retailing (1.0 per cent), other retailing (0.3 per cent), department stores (0.5 per cent) and household goods retailing (0.1 per cent) in October 2017.

  • Retail turnover rises 0.5 per cent in October

    Australian retail turnover rose 0.5 per cent in October 2017, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. 

    This follows a 0.1 per cent rise in September 2017.

    "In seasonally adjusted terms, there were rises across all industries led by cafes, restaurants and takeaway food services (1.7 per cent)," the Director of the Quarterly Economy Wide Survey, Ben James, said. 

    There were also rises for food retailing (0.3 per cent), clothing, footwear and personal accessory retailing (1.0 per cent), other retailing (0.3 per cent), department stores (0.5 per cent) and household goods retailing (0.1 per cent) in October 2017.

  • ACCC commences inquiry into digital platforms

    The Federal Government has today formally directed the ACCC to commence an inquiry into digital platform providers such as Facebook and Google.

    The ACCC’s inquiry will look at the effect that digital search engines, social media platforms and other digital content aggregation platforms are having on competition in media and advertising services markets.

    “The ACCC goes into this inquiry with an open mind to and will study how digital platforms such as Facebook and Google operate to fully understand their influence in Australia,” ACCC Chairman Rod Sims said.

  • Access to Justice inquiry

    The Australian Small Business and Family Enterprise Ombudsman has launched an inquiry into access to justice for small business.

    Ombudsman Kate Carnell said small business operators were at the wrong end of a power imbalance in dealings with big business and governments.

    “Consumer protections don’t always apply to small businesses, who have limited options in seeking resolution,” she said.

    “There are mediation services provided by my office and state Small Business Commissions, but if the dispute can’t be mediated it starts to get expensive.

  • More couple families have both parents working

    The number of couple families with children that have both parents working has increased in the last decade, according to statistics released by the Australian Bureau of Statistics (ABS) today.

    Chief Economist for the ABS, Bruce Hockman said that in June 2017 some 64 per cent of couple families with children had both parents working, while a decade ago the proportion was 59 per cent. 

    “The increasing proportion of couple families with children where both parents work is an ongoing trend we have been observing for a decade, as female participation rates in the labour market have increased to the current record high of around 60 per cent,” Mr Hockman said. 

  • ACCC homes in on better broadband speed info for consumers

    The ACCC has today announced SamKnows as the successful tenderer to undertake its $6.5 million broadband speeds monitoring program, which will see broadband speeds recorded across 4000 Australian homes over the next four years.

    The appointment of SamKnows to deliver the ACCC’s Measuring Broadband Australia program follows the conclusion of a competitive open tender conducted in accordance with Commonwealth government requirements.

    Over the first year of the program, some 2000 households will receive testing devices, with the results of the speed tests being reported on publically by the end of the first quarter in 2018.

  • ACCC seeking comment on Telstra's proposed FTTC migration plan

    The ACCC is seeking feedback on a discussion paper detailing Telstra’s proposed variation to the NBN Migration Plan to facilitate the rollout of fibre to the curb technology (FTTC).

    In 2015 the ACCC approved a revised Migration Plan which details how Telstra will progressively migrate existing customers’ telephone and internet services to multi-technology mix NBN services.

    Telstra’s proposed variation will facilitate the rollout of FTTC by NBN Co as an access technology. The rollout of FTTC is planned to commence in 2018.

  • ACCC won't seek review of Tabcorp-Tatts determination

    The ACCC has decided that it will not apply for judicial review of the Australian Competition Tribunal’s determination to grant conditional authorisation to Tabcorp (ASX:TAH) for the proposed acquisition of Tatts Group (ASX:TTS).

    “The ACCC has closely examined the Tribunal’s reasons. Unlike the original decision of the Tribunal we do not consider there is any error of law that needs to be corrected. For this reason the ACCC will not be seeking further review,” ACCC Chairman Rod Sims said.

  • Section 46 no defence for uncompetitive firms

    ACCC Chairman Rod Sims has delivered a warning to Australian firms: the competition watchdog is not going to protect them from competition.

    Delivering a speech in Sydney today, Mr Sims outlined how the recently legislated changes to the Competition and Consumer Act 2010 (CCA), especially s46, help the ACCC protect the competitive process by allowing firms, big and small, to compete on their merits.

  • Dwelling approvals rise 0.7 per cent in October

    The number of dwellings approved rose 0.7 per cent in October 2017, in trend terms, and has risen for nine months, according to data released by the Australian Bureau of Statistics (ABS) today.

    "Dwelling approvals have continued to strengthen in recent months, rising above 19,000 dwellings in October 2017," said Justin Lokhorst, Director of Construction Statistics at the ABS. "This is the first time the series has reached this level since August 2016."

  • AASB Discussion Paper: Australian-specific Insurance Issues - Regulatory Disclosures and Public Sector Entities

    Have your say:  If insurance risk is economically the same, shouldn’t the accounting be the same?

    Certain public sector insurance contracts or ‘insurance-like’ arrangements that arise by statute currently fall outside the scope of AASB 17 Insurance Contracts, although they are substantially no different from contracts within the scope of AASB 17.  This leads to diversity in practice and the possibility that some public sector entities may not appropriately reflect their insurance risk in their financial statements.

  • ACCC to delay consideration of BP's acquisition of Woolworths' service stations

    At the request of BP and Woolworths (ASX: WOW), the ACCC has delayed its consideration of BP’s proposed acquisition of the Woolworths’ retail service station sites so that the ACCC can consider further information from the parties. The expected new decision date is 14 December 2017. 

    “This is a significant decision for the retail petrol market in Australia. The extension to the consideration period will allow the ACCC to consider further information from the parties,” ACCC Chairman Rod Sims said.

  • ACCC takes action against Ashley & Martin for alleged unfair contract terms

    The ACCC has instituted proceedings in the Federal Court against Ashley & Martin Pty Ltd (Ashley & Martin) alleging that clauses in its standard form contracts are unfair under the Australian Consumer Law and therefore void.

    Ashley & Martin is an Australian company that provides hair loss treatment programs and hair replacement services to customers through its clinics in Australia, New Zealand and Singapore.

  • ACCC takes action against Jayco

    The ACCC has instituted proceedings in the Federal Court against Jayco Corporation Pty Ltd (Jayco), Australia’s largest caravan and recreational vehicle manufacturer, alleging it breached the Australian Consumer Law (ACL) by its conduct towards four customers who purchased defective Jayco caravans.

    The ACCC alleges that, between 2013 and 2015, Jayco acted unconscionably towards four customers by obstructing them from obtaining redress, such as a refund or replacement for their defective caravan. Jayco allegedly did this despite knowing the caravans were defective and not functioning properly, even after repeated, and failed, repair attempts.

  • New agtech project for Victoria to harvest smart farm data

    Victoria’s reputation as Australia’s most innovative agriculture state is being reinforced by a new partnership between Bosch Australia and Monash University.

    A new AgTech Launch Pad facility is being established at Bosch Australia’s Clayton headquarters, with one hectare allocated to a smart farm for cutting-edge research and development.

    The smart farm will include space for cropping trials and early-stage prototype development, enabling the use of artificial intelligence, automation, robotics and advanced sensor technology.

  • Fastway Couriers (Perth) pays penalty for alleged Franchising Code breach

    28 November 2017

    West Aust Couriers Pty Ltd, trading as Fastway Couriers (Perth), has paid a $9,000 penalty after the ACCC issued an infringement notice for alleged non-compliance with the Franchising Code of Conduct (Franchising Code).

    Fastway Couriers (Perth) is the West Australian regional franchisor of the Fastway Couriers franchise.  

  • Increase in marriages for Australians born overseas

    Australians are marrying later, living together before marriage and divorcing less compared with 20 years ago, according to the latest Australian Bureau of Statistics (ABS) figures on Marriages and Divorces.

    Marriages between two Australian-born people have gradually decreased over the last 20 years, with the proportion of marriages between two people born in Australia decreasing from 72.9 per cent in 2006 to 54.5 per cent of all marriages in 2016. 

    Marriages between two people born in the same overseas country have increased from 9.1 per cent in 2006 to 13.9 per cent in 2016. Marriages of people born in different countries accounted for 31.6 per cent of all marriages in 2016 compared with 18.0 per cent in 2006.

  • Increase in marriages for Australians born overseas

    Australians are marrying later, living together before marriage and divorcing less compared with 20 years ago, according to the latest Australian Bureau of Statistics (ABS) figures on Marriages and Divorces.

    Marriages between two Australian-born people have gradually decreased over the last 20 years, with the proportion of marriages between two people born in Australia decreasing from 72.9 per cent in 2006 to 54.5 per cent of all marriages in 2016. 

    Marriages between two people born in the same overseas country have increased from 9.1 per cent in 2006 to 13.9 per cent in 2016. Marriages of people born in different countries accounted for 31.6 per cent of all marriages in 2016 compared with 18.0 per cent in 2006.

  • Man Jailed For Trafficking Abalone

    An operation by Primary Industries and Regions South Australia (PIRSA) with the support of the South Australia Police (SAPOL) has resulted a Mount Gambier man being jailed for Abalone trafficking.

    In December 2014, Christopher Phillips was found carrying 102 (mostly undersized) Abalone in his possession near Cape Douglas, well in excess of the daily limit. A subsequent search of his premises located an additional 108 abalone shells, many of which were undersized.

    Appearing in the Adelaide Magistrates Court, Phillips was found guilty of possession and trafficking of a commercial quantity of Abalone in additional to other unrelated SAPOL matters.

  • Melbourne is Australia’s smartest city in study of 500 global cities

    Melbourne has been ranked tenth in an assessment of the ‘smartness’ of 500 cities conducted by Swedish smart parking technology company EasyPark.

    The company, which has an office in Melbourne, assessed the cities against 19 parameters.

    It also asked over 20,000 technology and urban planning journalists how their cities were moving with the pace of digitalisation.

    Copenhagen, Singapore and Stockholm were the top three smart cities.  Sydney came in at twelve, Perth at 41 and Adelaide at 61.