Wednesday, 17 July 2019 Sydney
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Invest In Australia News::

  • Artisan trades contribute to restoration of Flinders St Station

    The result of four years and $100 million in Victorian Government funding, the reveal of the upgraded Flinders Street station is only months away. We get an insider’s look into how the combination of niche craftmanship and government policy came together to revamp one of Melbourne’s most beloved transport hubs.

    Australia’s oldest train station, Flinders Street Station, is listed on the Victorian Heritage Register. Its distinctive façade and green copper dome are the result of an architectural competition to design the station held in 1902.  

  • Sydney’s cruise terminal receives major upgrade

    Two new giant gangways at the Sydney Overseas Passenger Terminal will improve the boarding and disembarking experience for passengers.

    The custom-built walkways have been designed to better support visits from larger cruise ships, which can carry up to 5000 passengers.

    Following testing and commissioning, the new gangways will be operational in time for the 2019–20 cruise season. They will be able to move 1200 passengers every 30 minutes.

  • Vodafone to compensate customers over 'direct carrier billing' charges

     

    Vodafone has admitted to making false or misleading representations about its third-party Direct Carrier Billing (DCB) service and will contact and refund impacted consumers, following an ACCC investigation.

    The investigation was carried out by the ACCC under a delegation of the Australian Securities and Investments Commission (ASIC)’s powers.

    Vodafone admitted that it likely breached the ASIC Act from at least 2015, by charging consumers for content they had not agreed to buy or had purchased unknowingly.

  • Moody’s confirms growth and stability in Tasmanian economy

    Today’s Moody’s Investor Service Credit Opinion of Tasmanian State Government finances shows that our long term credit rating remains stable at Aa2.

    Moody’s notes that despite softer economic conditions throughout the nation, the Tasmanian economy is resilient and diverse and continues to perform above its long term trend, with the strengthening local economy creating jobs.

    Moody’s also recognises our tourism industry for driving employment growth and private investment.

  • Tender open for the Sydney Gateway airport project

    The toll-free Sydney Gateway will make it easier and quicker for motorists to travel to Sydney Airport.

    Sydney Gateway will provide motorists with a new alternative route to the domestic and international airport terminals from the Sydney motorway network at St Peters interchange.

    Once open, motorists travelling to Sydney Airport will save:

  • Feedback sought on Great Artesian Basin shallow groundwater resource plan

    NSW Deputy Secretary Water Jim Bentley today announced the draft Water Resource Plan for Great Artesian Basin (GAB) Shallow Alluvial groundwater areas has been placed on public exhibition for community feedback.

    “This water resource plan is a key requirement of the Commonwealth’s Murray Darling Basin Plan. “It outlines how the NSW GAB Shallow groundwater resources will be shared sustainably into the future.

  • Innovative fund set to drive growth in Tasmanian Agriculture

    The Hodgman Liberal Government has an ambitious goal to grow the farm gate value of Tasmanian agriculture to $10 billion by 2050. Developing and adopting new practices and technologies will play a vital part in achieving this aim.

    The establishment of the new $3 million Agricultural Innovation Fund will drive research, development and extension projects.

    This new fund will invest strategically in innovative agricultural RD&E projects that capitalise on opportunities for growth and development while responding to threats to our vital agricultural sector.

  • Safety review of baby bouncers, rockers and inclined sleep products

    The ACCC will today begin a safety review of products designed for infants such as bouncers, rockers and inclined sleep products.

    The market review will be on inclined baby products used for sleeping, where the baby’s head and back are inclined, and may include a harness or belt to secure the baby into the product.

    The United States Consumer Product Safety Commission has reported that at least 74 infant fatalities have occurred in the United States while using bouncers, rockers and recliners.

  • Inequality stable since 2013–14

    Income inequality has remained stable in Australia while income growth has been slow, according to new information released by the Australian Bureau of Statistics (ABS) today.

    ABS Chief Economist Bruce Hockman said data from the 2017–18 Survey of Income and Housing – Australia’s largest survey of income and wealth – showed that income and wealth inequality had remained relatively stable since 2013–14.

    Income

    "While there was a marginal increase in inequality in the period leading up to the Global Financial Crisis in 2007–08, since 2007–08 the distribution of income between households has remained relatively stable,” Mr Hockman said.

  • Interim approval to Banking Code changes following Royal Commission

    The ACCC has granted interim authorisation to allow the Australian Banking Association (ABA) to take immediate steps to make certain changes to the Banking Code of Practice.

    These changes come in response to recommendations made by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Hayne Royal Commission).

    The interim authorisation allows member banks to agree not to charge default interest on loans secured by agricultural land in drought or natural disaster declared areas.

  • Aboriginal and Torres Strait Islander population projected to reach 1 million by 2028

    The Aboriginal and Torres Strait Islander population of Australia is projected to reach 1 million by 2028, according to the Australian Bureau of Statistics (ABS). 

    These projections are based on a series of assumptions of future levels of fertility, paternity, mortality and internal migration, which are guided by recent population trends. 

    ABS Demography Director, Beidar Cho, said: "Based on medium series, the Aboriginal and Torres Strait Islander population of Australia is projected to grow by 2.0 per cent per year to reach around 1,072,000 people by 2031.

  • New lending to households falls 1.3 per cent

    The value of new lending commitments to households fell 1.3 per cent in May 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) figures on new lending to households and businesses.

    The fall in new lending to households in May follows a 0.6 per cent rise in April 2019.

    ABS Chief Economist, Bruce Hockman said: “Most components of new lending to households fell in May, led by weaker lending for owner occupier dwellings (down 2.7 per cent) and for investment dwellings (down 1.7 per cent).” 

  • More social and affordable housing in regional NSW

    Vulnerable people at risk of homelessness in regional NSW will now have access to brand new, fit-for-purpose social and affordable housing.

    Seniors, older women and younger people will have access to 102 new properties being built in Dubbo, South Kempsey, Wagga Wagga, Nowra, Queanbeyan East and Wauchope.

    Local businesses will take part in construction of the homes to help boost the local economy in these areas.

  • Ombudsman issues ‘more information’ notice to APRA

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell says if the Australian Competition & Consumer Commission (ACCC) re-authorises the Australasian Performing Rights Association’s (APRA) operations, it should be limited to a year-by-year basis until APRA can be more transparent about its activities and provide better coverage to all businesses.

    “The ACCC has heard our ongoing concerns over the lack of transparency with regard to APRA’s current reporting obligations,” Ms Carnell says.

  • Dodo to refund $360,000 over NBN streaming claims

    Dodo Services Pty Limited (Dodo) has agreed to refund up to $360,000 to around 16,000 customers for claims that its entry-level NBN broadband plans were ‘perfect for streaming’.

    The refunds are part of a court-enforceable undertaking made to the ACCC after Dodo admitted its conduct was likely to be false or misleading and in contravention of the Australian Consumer Law. 

  • Company and director fined for obstructing WorkSafe investigation

    Queensland based labour hire company Tropickist Pty Ltd and company director David O’Brien were both convicted and fined a total of $13,000 in the Darwin Local Court on 3 July 2019, after pleading guilty to breaching Section 155 (5) of the Work Health and Safety (National Uniform Legislation) Act 2011.

    Mr O’Brien and Tropickist failed to cooperate with NT WorkSafe, and without a reasonable excuse, ignored requests to provide documents during an investigation into the 2016 death of Fijian national, Josia Benaca Turagatani.

  • Bienvenue à Victoria, VISEO!

    Recently VISEO opened its Australian Head Office in Melbourne from where it will grow its market presence and undertake product development.

    VISEO is a global tech company with its origins in France. They are digital makers, helping organisations to transform themselves through Technology and Innovation. VISEO as a company can be considered as a success story - started from scratch to build a group of more than 2,000 consultants with a strong presence on five continents.

  • Most workers staying in the same job

    More than 10 million people working in Australia stayed in their current job over the year ending February 2019, according to statistics released by the Australian Bureau of Statistics (ABS) today. 

    Head of Labour Statistics Bjorn Jarvis said that this equated to eight out of every ten workers having been in a job for 12 months or more.

    “The last decade has seen fewer people leaving or losing their jobs." Mr Jarvis said. “This has been especially true for women, with 15 per cent of all women who worked in the year leaving or losing a job, down from 19 per cent in 2008. This compared to 14 per cent for men in 2019, down from 17 per cent in 2008.” 

  • Court dismisses ACCC's case against Woolworths over disposable picnic products

    The Federal Court has found that Woolworths’ environmental claims that its ‘Select eco’ range of disposable plates, bowls and cutlery were “biodegradable and compostable” were not false or misleading.

    “We argued that Woolworths’ claims meant a consumer could reasonably expect the disposable products would decompose in landfills or domestic composting within a reasonable time,” ACCC Chair Rod Sims said.

  • Competition law expert Stephen Ridgeway appointed

    ACCC Chair Rod Sims has welcomed Treasurer Josh Frydenberg's announcement today that Stephen Ridgeway will join the agency as a Commissioner.

    Mr Ridgeway has been appointed for a term of five years. He brings to the ACCC extensive experience as a leading lawyer specialising in competition and consumer law, including in large-scale litigation, merger review and infrastructure access matters.

  • Samsung in court for misleading phone water resistance advertisements

    The ACCC has instituted proceedings in the Federal Court against Samsung Electronics Australia Pty Ltd (Samsung) alleging it made false, misleading and deceptive representations in advertising the water resistance of various ‘Galaxy’ branded mobile phones.

    Since around February 2016, Samsung has widely advertised on social media, online, TV, billboards, brochures and other media that the Galaxy phones are water resistant and depicted them being used in, or exposed to, oceans and swimming pools.

  • Virgin Australia granted interim authorisation to cooperate with Virgin Atlantic

    The ACCC has granted interim authorisation for Virgin Australia (ASX: VAH) to cooperate with Virgin Atlantic on flights between Australia and the United Kingdom/Ireland, via Hong Kong, Los Angeles and any other future mutual connecting points.

    While the two airlines are separate businesses, they already have a codeshare arrangement which allows them to market flights on planes flown by the other.

  • Further slowing in job vacancies in May

    The number of job vacancies in Australia increased by 0.3 per cent over the May 2019 quarter, according to new trend figures from the Australian Bureau of Statistics.

    Bruce Hockman, Chief Economist at the ABS, said that growth in vacancies was noticeably weaker in 2019 than it had been in 2018.

  • Retail turnover rose 0.1 per cent in May

    Australian retail turnover rose 0.1 per cent in May 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. 

    This follows a fall of 0.1 per cent in April 2019. 

    ABS Director of Quarterly Economy Wide Surveys, Ben James said: "There were mixed results across the industries with rises in Cafes, restaurant and takeaway food services (0.7 per cent), Household goods retailing (0.5 per cent), and Other retailing (0.6 per cent). These rises were offset by falls in Food retailing (-0.3 per cent), Department stores (-0.4 per cent), and Clothing, footwear and personal accessory retailing (-0.2 per cent)."