Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Is this employment data a sign we are nearing the end of the great resignation?
Small businesses being hit from all sides: Is change on the horizon?
Aussie SMEs are doing it tough with compounding issues placing enormous pressure on these vital businesses. Greener pastures may be in sight, however. These trends were outlined in a study by YouGov, commissioned by Prospa. Here, the struggling small business landscape was analysed.
NAB updates monetary policy to forecast rate cuts won’t happen until May 2025
A major bank is forecasting Aussies with mortgages will have to wait another six months before they see a rate cut. NAB had, along with the other big four banks, tipped the Reserve Bank of Australia would cut the official cash rate at its first meeting of 2025 in February. But it now says it doesn’t expect the central bank to rates until May.
Donald Trump and the one big threat to Australia’s almost $4 trillion superannuation system
Australia’s superannuation system is robust. It is well regulated and strong. So, why then would both the International Monetary Fund (IMF) and the Reserve Bank of Australia (RBA) raise any financial stability concerns in connection with superannuation?
Australia positioned for $18.8bn AI economy by 2035
Microsoft and Mandala Partners have unveiled a report focusing on Australia’s position and potential in the burgeoning global AI economy. The report, titled ‘Australia’s Opportunity in the New AI Economy’, explores the country’s potential to become a key player in the new global AI economy, driven by advancements in generative AI. It pinpointed applications, AI datacentres, and data as major growth areas, predicting these sectors could compose 90 per cent of an anticipated AUD $18.8 billion in annual revenue by 2035.
ASIC puts super funds ‘on notice’, says delays to death and disability claims are ‘widespread’
The chief executive of industry super fund Cbus has apologised in a Senate committee for the fund’s “far from perfect” behaviour, amid warnings from ASIC that all providers should be “on notice” over bad behaviour. According to ASIC, Cbus failed to process more than 10,000 death and disability claims in a reasonable timeframe. After the hearing, deputy chair of ASIC Sarah Court said it was not just Cbus who had done wrong, and all super funds would be “put on notice”.
The biggest hurdles for Australia’s small businesses
Maintaining a small business requires considerable effort. Outside influences out of control of an owner may also play a part. Here are the top challenges for small businesses.
Report flags 5 e-commerce and logistics trends for 2025
SOTI, a global provider of business mobility solutions, has released a report outlining five key trends predicted to impact Australian e-commerce and logistics in 2025. The report is based on recent research conducted by SOTI, and it provides some insightful findings that could shape the future of the industry.
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Even ASIC wants less complex regulation for small businesses
As the Australian Securities and Investments Commission (ASIC) announced its enforcement priorities for 2025, Chair Joseph Longo said it will also challenge the regulatory complexities that businesses large and small have to deal with.
SME sentiment declines due to weaker revenues and loan concerns
After showing slight signs of recovery over the past two months, SME sentiment has declined anew, as reflected in the latest SME Sentiment Tracker data. The research conducted by business market research firm Fifth Quadrant in partnership with Ovation revealed that only 10 per cent of SMEs expect the Australian economy to improve over the next three months, while 53 per cent anticipate weaker conditions.
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