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Australians trading in cryptocurrency may soon get a call from the Australian Taxation Office if its new data-matching program flags a problem. Each year the ATO matches more than 600 million transactions, but to date its focus has been on transactions that pass through major financial institutions.
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Consumer confidence fell last week, giving up some of the gains over the previous period that were related to solid jobs data, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 1.6 per cent from the previous week, with the "future financial conditions" metric falling 1.5 per cent after four straight weekly gains.
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Sydney's median house prices on track to fall below $1 million, analysts say. Sydney's median house price is on track to dip below $1 million for the first time in four years, according to analysis by one of Australia's leading real estate websites. The latest Domain house price report shows Sydney's median house price is now $1,027,962, which is down 3 per cent over the past three months.
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Remediation to cost Westpac another $357m
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Facebook and Google paid less than $40 million in tax between them in Australia last year on more than $1.1 billion in advertising sales. Documents filed with the Australian Securities and Investments Commission show Facebook Australia raked in $579.7 million from advertising in 2018 — plus another $696,000 from what it calls “services” — but paid $454.9 million in costs to an overseas subsidiary to arrive at a net revenue of figure of $125.5 million.
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Australia is on the edge of a "production cliff" and could slip from second to fourth on a list of the world's biggest gold producing nations by 2024, mining analysts have warned. Behind only China, Australia's gold mines will produce an estimated 10.7 million ounces this year — the equivalent of about $19.2 billion worth of the precious metal.
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Troubled contractor Tempo Australia has appointed as an adviser the former boss of collapsed engineering company RCR Tomlinson. Tempo has also faced questions from shareholders over a cash bonus paid to its managing director, who quit yesterday, and its former chairman and co-founder criticised the company’s performance and direction.
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Bubs Australia has more than doubled third-quarter revenue to $11.8 million after infant formula sales to China and domestic daigou trade made March its best ever month. Bubs on Tuesday said it had generated $6.9 million in revenue in March, which represented nearly 60 per cent of revenue for the quarter. Bubs shares were up 6.49 per cent at 1054 AEST, to $1.23, another all-time high.
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Peppermint Innovation expands operations in March quarter, cash receipts up 92%
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Vocus says it will fight a class action alleging the telecommunications company misled shareholders over downgraded guidance that caused its stock to lose more than a quarter of its value. The company has been served with a class action proceeding filed in the Federal Court by law firm Slater and Gordon on behalf of shareholders who bought Vocus shares between November 29, 2016 and May 2, 2017.
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NSW government agencies will be forced to buy their long-term voice, data and mobile services from eight providers under a tough new stance on telco procurement aimed at improving coordination. The Department of Finance, Services and Innovation – which will soon become the Department of Customer Services – issued the directive on Monday to replace the state’s existing telco procurement guidelines.
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Virgin Australia has confirmed it will defer taking delivery of its first Boeing 737 MAX aircraft, from November 2019 to July 2021, due to safety concerns.
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Qantas says it will be ready to fly passengers directly from Sydney and Melbourne to London, as well as Sydney to New York non-stop, by the end of the year. The airline’s CEO Alan Joyce says he has challenged plane manufacturers to build a plane capable of a 21-hour journey and now believes there is an aircraft capable of the task.
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Coles online shopping outage rolls into third day. Coles has flooded angry customers with $15 vouchers to apologise as the supermarket’s online shopping outage stretches into a third day.
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No new NAFTA unless tariffs nixed, says GOP leader. Steel and aluminum tariffs must go, Senator says, butTrump should continue to fight China on trade
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Trade war and sagging prices push U.S. family farmers to leave the field
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US President Donald Trump has sued two banks in a bid to stop them handing over his financial records to Congress. The lawsuit against Deutsche Bank and Capital One was filed after Democrat-led committees issued subpoenas for information on his finances.
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The new Oculus headset shows how far VR has come. It's still not enough
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By almost any measure, Apple ended 2018 in a state of turbulence. The company's iPhone sales during the final three months of 2018 plunged 15% from a year prior, marking a stunning decline for Apple's core product line.
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Amazon worker representatives from 15 countries met in Berlin on Monday to coordinate their strategy against one of the world's most powerful companies, after years of individually battling against its often-criticised employment practices. Alfred Bujara of Amazon Poland proudly showed off images from his latest campaign to a German colleague, urging their employer to "stop the rat race".
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GE cautious as profit rises, cash burn slows; shares, bonds rise. General Electric Co said on Tuesday it generated more profit and lost less cash than expected in the first quarter, suggesting an improving outlook under its new leader that sent its shares and bonds higher.
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WeWork, the fast-growing office-sharing startup, said Monday it had filed documents for a stock market listing to help fuel further expansion. The New York-based firm valued at some $47 billion by private investors and operating in some 600 cities worldwide, said it filed its registration confidentially in December with the Securities & Exchange Commission.
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Europe's telecoms companies want to do business with China's Huawei. That may have just gotten harder. Vodafone (VOD) and Huawei confirmed Tuesday that the phone company discovered vulnerabilities in Huawei software in 2011 and 2012, following a report from Bloomberg News.
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Is plant burger firm Beyond Meat really worth $1.5bn? Beyond Meat has lifted its share price range ahead of its US flotation on Wednesday valuing the plant-based meat-maker at nearly $1.5bn (£1.1bn). The US firm, which counts actor and environmentalist Leonardo DiCaprio among its investors, will now offer its shares at between $23 and $25.
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The world's biggest auto parts maker Bosch said Monday it would work with a Swedish firm to develop key components for hydrogen fuel cells designed to power cars, after backing off building electric batteries. Stuttgart-based Bosch and Powercell Sweden AB -- formerly a subsidiary of carmaker Volvo -- aim to bring the fuel cells to market "in 2022 at the latest".
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VW is creating an electric future. This is what it looks like. At the Paris Motor Show in 2016, Volkswagen unveiled a concept car called the ID, a small electric-powered hatchback with big white wheels, all white body panels and a glowing VW logo on its nose. It looked clean, bright and futuristic.
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Former Barclays trader claims bank fired him for misconduct after whistleblowing
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Chinese authorities appear to be ramping up a practice that shames debtors into paying back the state by projecting their names and photographs onto the big screen ahead of popular films . What began as isolated reports last year that cinemas were screening a "reel of shame" — one in south-western Sichuan province showed the details of business executives who defaulted on their debts — is now being rolled out more widely.
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