Top 5 Australian Business News Headlines of the Week
As the business landscape is constantly evolving, it’s important to stay up-to-date with the latest news and trends that impact the industry. Here are the top 5 Australian business news headlines of the week that you need to know about:
1. Australian Economy on the Rise
The Australian economy has shown signs of a rebound, with the latest data revealing a 3.3% rise in GDP during the September quarter. This marks the largest quarterly growth in 45 years, indicating that the nation’s economic recovery is gaining momentum after being severely impacted by the COVID-19 pandemic.
2. Tech Giants Under Scrutiny
The ongoing investigation into the power and influence of tech giants such as Google and Facebook in Australia has gained significant traction, with the Australian Competition and Consumer Commission (ACCC) releasing its draft report on digital platforms. The report highlights concerns over the market dominance of these companies and their impact on competition and consumer choice.
3. JobSeeker Payment to End
The Australian government has announced that the JobSeeker Payment, which was introduced in March 2020 to support those who lost their jobs due to the pandemic, will come to an end in March 2021. The government has instead introduced a new program, JobMaker, which aims to create new job opportunities for younger Australians.
4. Retail Sales on the Rise
Retail sales in Australia increased by 1.4% in October, following on from a 1.5% increase in September. The rise in sales can be attributed to strong consumer confidence and increased spending on household goods, as a result of the shift towards working from home.
5. Boost for Renewable Energy
The Australian government has announced a $1.9 billion funding package to support the growth of renewable energy across the country. The package includes investment in large-scale solar and hydrogen projects, as well as funding for research and development in renewable technologies.
Conclusion
These are just a few of the top Australian business news headlines of the week. It’s important to stay informed about the latest developments in the industry, as this information can help you make informed decisions and stay ahead of the competition. Remember to keep an eye on the news and stay abreast of any changes that may affect your business in the future.
