Greensill bullying pledge welcomed by Carnell

Financial Review, Jan 24, 2020 — 4.36pm Small Business Ombudsman Kate Carnell says she will be watching financier Greensill and other players in the fast-growing reverse factoring sector to ensure they are lending money to customers that treat their small business suppliers fairly. Small Business Ombudsman Kate Carnell says reverse factoring is being used for the wrong reason by some. …

Greensill won’t be used to ‘bully’ small business

Financial Review, Jan 24, 2020 — 12.00am Davos, Switzerland | Supply-chain finance behemoth Greensill has buckled to a backlash against abusers of its core business, weighing up whether and how to refuse service to clients who “bully” small businesses by charging them just to get their invoices paid on time. Speaking to The Australian Financial Review while attending the Davos …

FWC ruling on unfair dismissal a win for casual workers

The Fair Work Commission has overturned a tribunal ruling stopping a casual worker from pursuing an unfair dismissal claim.The Australian, January 23, 2020 The Fair Work Commission has overturned a tribunal ruling stopping a Bed Bath N’ Table ­employee from pursuing an unfair dismissal claim in a win for casual workers. A commission full bench on Thursday quashed a decision …

Hackers have got their hands on $11 billion in stolen cryptocurrency since 2011

SmartCompany, January 22, 2020 More than US$11 billion has been stolen from supposedly secure crypto exchanges, wallets and mining platforms since 2011, mostly due to hacking incidents, research from Inside Bitcoins has revealed. For a form of currency that bases itself on safety and security, $11 billion is a pretty significant number. Stored on blockchain technology and protected by encryption …

Chamber of Commerce and Industry WA’s chief economist Aaron Morey unveils bold solutions to boost WA economy

The West Australian, 23 January 2020 Aaron Morey – newly appointed chief economist at the Chamber of Commerce and Industry WA. Lessening the stamp duty burden, deregulation of shopping hours and a loosening of migration restrictions should all be examined to drag the WA economy out of stagnation. The Chamber of Commerce and Industry WA’s biannual economic forecast paints a …

The next Instagram? Five ways small businesses can use TikTok

SmartCompany, January 21, 2020 Linktree co-founder Alex Zaccaria. New social media platform TikTok is experiencing rapid growth and businesses around the world are starting to take note. It’s not surprising when you see the stats: the TikTok app has been downloaded 1.5 billion times in 150 countries. One of the platform’s most defining aspects? Its overwhelming number of Gen Z …

Facebook’s Calibra could be prudentially regulated

Financial Review, Jan 21, 2020 — 4.53pm If the proposed global cryptocurrency Libra gets off the ground and Facebook launches its Calibra digital wallet in Australia – to be known as Calibra – the US technology giant will need to meet minimum capital requirements and face other prudential regulation. The Australian Prudential Regulation Authority said proposals from the Council of …

Australia Day 2020: State-by-state trading hours and penalty rates

SmartCompany, January 21, 2020 Australia Day (January 26) falls on a Sunday this year, which means the following Monday (January 27) is earmarked as a national public holiday by the federal government. Sunday itself will observe typical trading and workplace obligations, which we’ll detail below. This arrangement is similar to 2019, when Australia Day fell on Saturday, leaving Monday marked as …

Trivago court ruling is ‘a win for travellers’

Trivago faces a hefty fine after being found guilty of misleading and deceptive conduct for suggesting its first placed prices were the best, when in fact they were simply the prices generating the highest Trivago commissions. The Auastralian January 21, 2020 The Federal Court’s ruling against global travel platform Trivago is a win for transparency and therefore a win for …

“Treading water”: Crumbling confidence to weigh on Australian economy

SmartCompany, January 20, 2020 Australia is on course to “muddle through” an economic slowdown driven by drought, a weak housing market and scared consumers, as confidence ‘crumbles’ in the face of uncertainty and ongoing bushfires. That’s the view of Deloitte Access Economics partner Chris Richardson, who today dropped a report canvassing Australia’s economic fortunes in 2020. Richardson notes global growth — …