News

Neo-bank Volt Bank will return over $100 million in deposits to customers and hand back its banking license.

The ATO is urging businesses to use specialist software instead of emails and PDFs when invoicing.

The Philippine peso on Monday slumped to its weakest since 2005, while the India rupee declined to a record low last week.

Bloomberg: The grace periods on two eurobond coupons expired on Sunday Russia’s Finance Minister calls the default label a ‘farce’ “It’s a very, very rare thing, where a government that otherwise has the means is forced by an external government into default,” Russia defaulted on its foreign-currency sovereign debt for the first time in a… Read more »

In April 2022 alone, over $13 billion in new loans were provided to micro, small and medium businesses.

The QLD State Budget was announced. Key points:
– A new Payroll Tax – Mental Health Levy. More detail in Budget Paper No 4, on p4, p27 and p165.
– $1.9 billion over four years for housing and $1 billion to drive new supply.

“Many of us now talk about the fact that we don’t even keep cash in our wallets.” Ms Bligh said 80 per cent of customers were using virtual channels, rather than ATMs and branches, so it was important to keep those services as safe as possible.

Many governments are too indebted to cushion the blow to living standards. Egypt, Turkmenistan, Kyrgyzstan, Tunisia, Pakistan, Uganda, Turkey and Peru are at serious risk of unrest in the next 12 months.

Housing markets in New Zealand, the Czech Republic, Australia and Canada rank among the world’s bubbliest and are particularly vulnerable to falling prices.

“I’ll hang up and call the bank now.”

Read the full transcript of Governor Lowe’s speech on inflation and monetary policy.

BoE says UK inflation is headed for 11%