Rising costs, belt tightening drives surge in cafe failures
Business failures in the hospitality sector have almost doubled over the past year and are tipped to climb further as costs mount, tax debts grow and consumers tighten their belts.
Victoria Business
ASX 200 down 0.6pc after record high but CBA hits another record
Australia’s stock market retreats from a record high, but CBA does it again with another record high close, Analysts unpack Amcor’s Berry buy. Freight issue risks Nick Scali profit. EV volatility hits PWR Holdings profit margins.
Packaging giants Amcor and Berry unite in $13bn deal
Amcor will acquire Berry Global in a $13bn all-stock deal, creating a packaging powerhouse with $37bn in revenues.
Fix your problems or pay the price, regulator tells big super
Big super trustees are on notice from regulators about their failures to track death claims as the $4 trillion industry faces a much broader crackdown.
Canva poaches Zoom exec as IPO speculation heats up
The tech giant has recruited Zoom CFO Kelly Steckelberg to replace its former finance boss Damien Singh, who left amid a scandal.
Young investors take risks but aren’t afraid to save
Don’t look now, but Australia’s youngest generations of investors are saving as well as spending.
GFG Alliance flags new debt funding for Whyalla operations
The company, run by Sanjeev Gupta, has negotiated $US100m in new debt funding, which will provide critical capital for the Whyalla steelworks and mining operations.
HESTA to compensate members for revaluation failures
The super fund delayed downgrading unlisted assets at the height of the Covid crisis, leading more than 100,000 members to lose out, APRA says.
Sales down at Kathmandu, Rip Curl owner
KMD Brands, the owner of Kathmandu, Rip Curl and Oboz, is pinning its hopes on a bounce in sales from the crucial Black Friday and Christmas trading period as sales for all its brands continue to dive. Shares hit record low.
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ASX dips; fingers crossed for Nvidia earnings
The ASX dipped on Wednesday as energy stocks led losses. Global tensions weighed on markets but gold stocks rose… all ahead of Nvidia’s incoming earnings report.
Narryer soars on rare earth hits
Narryer Metals lifted on rare earth hits in WA’s Great Southern, where former Cassini Resources boss Richard Bevan is chasing his next win.
Geopolitics shake traders; Narryer up 80pc
The ASX dips amid geopolitical tensions, Amcor falls on $13 billion acquisition, while Narryer Metals strikes high-grade scandium and rare earths.
End of an era: McCrann’s snapshot of 46 years
It’s the end of an era as legendary business columnist Terry McCrann looks back at the past 46 years as he signs off on his last regular column.
Banducci leaves Woolies in top shape
Brad Banducci should feel pretty satisfied with the latest result at Woolies – his final mark on a stellar turnaround at Australia’s biggest supermarket group.
BHP profit all about China
BHP and its multi-billion profits are still all based on China. Today it’s iron ore tomorrow it will be copper.
Warren Buffett sounds the alarm for investors
Donald Trump believes we are entering a ‘golden age’ of investment returns but legendary stock picker Warren Buffett is screaming ‘SELL’. So who’s Barefoot Investor backing?
Don’t spend $85k on two degrees that won’t get you a job
HECS is ‘good debt’, Barefoot Investor tells a mother who paid off her struggling son’s $85,000 bill because he was unable to find a well-paying job or save for a house.
Why buying and holding shares trumps US election winner
In terms of your portfolio, it doesn’t matter who wins the US election, says Barefoot Investor. What does matter is that you buy and hold shares and weather the political storms.
More Business
‘Arrogant’: Shareholders slam WiseTech’s virtual AGM plans
The Australian Shareholders’ Association has hit out at the board of scandal-hit WiseTech Global for holding a virtual annual meeting rather than face shareholders in person.
The top money tip retirees would give their younger selves
Seniors have shared the financial moves they wish they made earlier in their lives. What would you do? Take our poll.
CFMEU nominated directors to join Cbus board after test
The union’s nominated directors Paddy Crumlin, Jason O’Mara and Lucy Weber will join the board of Cbus.
Virgin crew can work on Qatar flights, CEO says
Virgin pilots and cabin crew will have the chance to work on Qatar Airways flights out of Doha, but unions fear it will be at their detriment.
What’s stopping the RBA from cutting rates?
The RBA gives little hope of interest rate cuts before May and warns of scenarios where it may need to lift rates again, its November meeting minutes show.
Woolworths’ supplier rebates under scrutiny
Questions have been raised about the impact of supplier rebates on Woolworths’ profit and executive bonuses at the second ACCC hearing into supermarkets that also included a notable surprise.
Bunnings defends facial recognition cameras after privacy breach
The retail giant has been found to have invaded the privacy of hundreds of thousands of customers, technology it says was only used to protect its team and other customers from ‘violent behaviour’ | WATCH THE VIDEO
We’re breaking up with you, Etihad tells Virgin
Etihad Airways has told Virgin it’s over amid speculation over the future of their 14-year partnership, as the carrier’s proposed deal with Qatar Airways faces regulatory scrutiny.
NAB sued over hardship silence: ‘2000-day wait for reply’
The corporate regulator has put banks on notice over financial hardship, launching court action alleging National Australia Bank took years in responding to borrowers in crisis.
CBA to assess selldown of its Klarna stake
Commonwealth Bank may soon start assessing whether to sell down its stake in buy now, pay later IPO candidate Klarna, in a move some analysts estimate may release up to $1.8bn in capital.
How Trump’s tariffs will change the path of interest rates
Much of the global tariff fight is set to take place between China and the US, but it has major implications for Australia.
Resolute faces fine, giving up piece of mine in Mali standoff
Resolute Mining appears to have run the gauntlet of sending its CEO, Terry Holohan, to the troubled West African nation of Mali despite a previous security incident.
Elders agrees $475m deal for Delta
Elders boss Mark Allison has conceded the company may need to sell off branches in order to win over the ACCC as it bids to take over rural supplies group Delta Agribusiness.
Four-day week not ‘revolutionary’: outgoing SafetyCulture CEO
Luke Anear believes four-day working weeks are on the cusp of the mainstream, as he steps down as chief executive of the $2.5bn workplace software company he founded.
Virgin leaving nothing to chance on Qatar deal
Outgoing CEO Jayne Hrdlicka is making sure the Australian public hears more jobs are likely to come from the partial takeover by Qatar Airways.
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