The Reserve Bank of Australia (RBA) has increased the official cash rate target by 25 basis points to 4.10%, marking the twelfth increase in 13 months and taking rates to the highest level in 11 years. It also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4%. Key Takeaways […]
Sabri Suby launched King Kong in 2014 with $50 and a laptop. Today, it’s one of the country’s fastest-growing companies – and he plans to take on the world’s biggest ad players. 38-year-old Sabri Suby answers a Zoom call waving a bobblehead of himself in front of the camera, which he admits is a fairly […]
Ahead of Succession’s highly anticipated finale on Sunday, real-life Wall Street analysts seem to be split on which scion will take over fictional mogul Logan Roy’s media empire—a sprawling conglomerate with close parallels to Rupert Murdoch’s Fox News dynasty—but a Forbes poll revealed the popular HBO show is no hit amongst the group it’s about, billionaires. (Spoilers ahead) […]
Qantas has announced an estimated underlying profit before tax of around $2.4 billion for FY23, claiming “strong travel demand” and the completion of its three-year recovery program have contributed to the result. The company has also reshuffled its board for the second time in a month, announcing the appointment of former American Airlines CEO and […]
As the sandwich chain eyes a potential US$10 billion sale, a Forbes investigation reveals that late cofounders Peter Buck and Fred DeLuca and their families salted away billions for themselves and their foundations. Meanwhile, some franchisees say they are left with crumbs. In the early 2000s, a footlong frenzy swept the United States. More than […]
Those around her at the time told Hannon Comazzetto that leaving her EY consulting role to launch a startup was risky. But her determination to solve the global fast-fashion waste problem outweighed the risks, and in 2018 she founded Airrobe, a platform dubbed the Airbnb of clothing. Hannon Comazzetto is in Australia for a short […]
The Federal Budget had some hits and misses for SMEs and startups this year: here’s what you need to know. While the Labor Government and its supporters are celebrating a significant and deserved win today – announcing the first Federal Budget surplus ($4.2b) since 2007 – there are mixed reviews on what it means for […]
Financial crime experts say that money launderers will continue to buy up Australian real estate until legal loopholes are addressed. However, opinion is divided as to how to solve the problem. Key Takeaways When a police operation exposed one of the biggest money laundering syndicates in Australian history in February, it prompted renewed questions about […]
The Reserve Bank of Australia has increased the official cash rate by 25 basis points to 3.85%, saying inflation is still too high. The Reserve Bank of Australia board announced this afternoon that it will increase the cash rate target by 25 basis points to 3.85%, saying while inflation has passed its peak, 7% is […]
Twitter’s former boss picked Jay Graber to create a spinoff called Bluesky that lets users control their online identities, and it is about to hit the market. Elon Musk won’t play along, but he is providing an opening for the project nonetheless. Key Takeaways Lantian “Jay” Graber’s mother grew up in China during the Cultural Revolution—a […]