ASIC warns small businesses to be vigilant
According to the ACCC, payment redirection scams caused the highest losses to businesses in 2021 The ACCC’s Scamwatch received more than 3,500 reports from small businesses in 2021 Small businesses should be vigilant, especially around payment redirection scams, and they should report scams to the relevant authority ASIC urges small businesses to be wary of…
Gold output sees stable recovery in H1
BEIJING, July 27 (Xinhua) — China produced 174.687 tonnes of gold in the first half of this year, an increase of 21.934 tonnes or 14.36 percent compared with the same period last year, industry data showed on Wednesday. Gold consumption in China shrank by 12.84 percent year on year to 476.82 tonnes due to the…
China’s industrial profits up 1 pct in H1
BEIJING, — Profits of China’s major industrial firms rose 1 percent year on year in the first half of 2022, official data showed on Wednesday. Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.95 million U.S. dollars) saw their combined profits exceed 4.27 trillion yuan in the period,…
China’s manufacturing sector makes solid progress
BEIJING, — China’s manufacturing sector has demonstrated strong resilience and growth potential, with the government rolling out a raft of policies to stabilize the industrial chain, ease burdens on enterprises, and promote industrial transformation. In the first half of the year, the value-added output of China’s manufacturing sector accounted for 28.8 percent of the country’s…
German discount retailer Aldi eyes expansion in China
BERLIN, July 26 (Xinhua) — German discount retailer Aldi South is considering a further business expansion in China with the planned opening of at least 100 new stores, the local business newspaper Handelsblatt has reported. “China is and remains one of the most fascinating markets in all areas,” the paper quoted Roman Rasinger, managing director…
CommSec Morning Report Wednesday
Latest news In US economic data, the S&P/Case Shiller home price index was up 20.5% in the year to May (survey: 20.6%). New home sales fell from a 642,000 annual rate to 590,000 million in June (survey: 660,000). Consumer confidence fell from 98.7 to 95.7 in July (survey: 97.2). The Richmond Federal Reserve manufacturing index…
Evening report Tuesday
The Aussie market edged higher on light volume ahead of a key update on inflation tomorrow, with the ASX 200 finishing 17.4pts or 0.26 per cent higher to 6807.3. Six sectors and 109 stocks rose. Resources did much of the heavy lifting after mining and energy stocks rose 2.8 per cent and 1.6 per cent,…
Will ANZ’s takeover of Suncorp reduce bank competition?
Australia has one of the world’s most concentrated banking sectors, with its four biggest banks – Commonwealth Bank, National Australia Bank, Westpac and ANZ – holding more than about three-quarters of the market. It will become even more concentrated if ANZ – the “minnow” of the big four – completes its plan to buy the…
Revitalife refunds consumers and provides undertaking to the ACCC
The ACCC has accepted a court-enforceable undertaking from Clews Holdings Pty Ltd, trading as Revitalife, after the ACCC raised concerns about the sales practices Revitalife used when selling therapeutic adjustable beds and recliner lift chairs. From at least July 2019 until January 2022, Revitalife made unsolicited calls to consumers offering to conduct a ‘Sleep Assessment’…
Tourism sector eyes steady recovery amid epidemic
From lofty mountains in Xinjiang to the courtyard of Naxi culture in Yunnan, tourism in many parts of China is seeing rebounds and looking to upgrade the market. Asia’s largest professional travel expo, the China International Travel Mart (CITM) 2022 concluded Sunday in Kunming, capital of the southwestern province of Yunnan, amid warm response. It…
