The Australian Competition and Consumer Commission (ACCC) has provided interim authorisation for a $50 million bailout of transporter Armaguard from the country’s biggest banks and retailers. The ACCC approved the bailout on Wednesday. The agreement, funded by the Commonwealth, Westpac, NAB and ANZ banks, along with Coles, Woolworths, Wesfarmers and Australia Post, means Armaguard will … Read more
Australian online bookseller Booktopia has appointed voluntary administrators, just over two weeks after it ceased trading on the stock market. “The administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” Booktopia Group Limited said in a statement to the Australian Securities Exchange (ASX) on Wednesday. Keith … Read more
The ship was carrying 3,000 cars – 25 of which were electric. Photo: Flying Focus / ANP / AFP (Getty Images) (Getty Images) The car carrier MV Fremantle Highway went up in flames in the North Sea last year, consuming thousands of brand new Mercedes, BMWs and Minis. Some of the cars on board were … Read more
Good morning! It’s Tuesday, July 2, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Tesla’s Cybertruck Has Finally Arrived 1st Gear: China’s BYD Is Coming For Tesla’s Ass Again Chinese vehicle maker … Read more
ANZ has been sanctioned for charging fees to the estates of dead clients, in what the industry’s independent monitor has called a serious breach. The Big Four bank was found to have failed to stop charging, or to refund fees charged to, deceased estates after customers’ deaths. It also failed to respond to requests for … Read more
Official statistics suggest a new home must be built in Australia every few minutes to keep up with migration as new housing data paints a grim picture for people trying to get on the property ladder. Australia’s population grew by 2.5 per cent to 26.97 million people in 2023, with net overseas migration accounting for … Read more
Australians are extending their mortgages amid the cost-of-living crisis, taking on more debt in the long run. New research by Finder reveals 13 per cent of people surveyed have extended the length of their home loan in the past 12 months. The average loan size in Australia is $625,050, according to Australian Bureau of Statistics … Read more
Australian taxpayers are set to see more dollars appearing in their bank accounts each pay cycle as long-awaited tax cuts kick in. The saving depends on tax brackets but federal government analysis shows the average full-time worker earning around $98,220 will be getting a cut of $2134 a year, or $41 a week. Yet with … Read more
Tax cuts, energy bill relief and an increase in the minimum wage are among the raft of mid-year changes set to kick in for Australians. Every taxpayer will keep a little more of what they earn from Monday as the long-planned stage three tax cuts kick in with a combination of other measures designed to … Read more
Happy Tuesday! It’s June 26, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Rivian Unveils Trio of New Electric Vehicles 1st Gear: Volkswagen And Rivian Are Collaborating On EVs Rivian makes very … Read more
