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Cashflow impacts 80 pct of small business

CANBERRA, AAP – Almost 80 per cent of small and medium sized businesses reported having cashflow issues over the past year, with many dealing with the issue in ways they had never before considered. ScotPac’s SME Growth Index, which polled 1255 businesses, found 42.8 per cent said they closed offices or shopfronts, moved premises or…

Wall St climbs on strong bank results

NEW YORK, RAW – US stocks have risen as Goldman Sachs was the latest big bank to report strong results and better-than-expected retail sales eased worries about demand. The three major stock indexes were on track to post gains for the week as well. Goldman Sachs Group jumped 3.4 per cent, giving the Dow its…

Aust shares rally, ahead for month

SYDNEY, AAP – Investors are ahead for October after a second consecutive week of gains on the ASX. A broad-based rally on Friday ensured momentum has steadied following four consecutive weeks of losses recently. Technology and materials shares were the best performers in the latest session. The benchmark S&P/ASX200 index closed higher by 50.3 points,…

Qantas in $802m land sale to reduce debt

SYDNEY, AAP – Qantas will use a $802 million land sale to reduce debt and may yet move its headquarters to the same divested property. The carrier is selling a largely undeveloped 14 hectares in Mascot, Sydney, to help shore up its finances following the COVID-19 downturn. A LOGOS Property Group consortium including AustralianSuper emerged…

Delta lockdowns hit Aussie business turnover

Delta lockdowns hit Aussie business turnover Monthly business turnover indicator In August, business turnover rose the most for Transport, postal and warehousing (up 2.8 per cent). But turnover fell by the most in August for Accommodation and food services (down 6.5 per cent). Monthly business turnover indicator – August 2021 • The Australian Bureau of…

Biden raises US debt limit, averts default

WASHINGTON, D. C., RAW – US President Joe Biden has signed legislation temporarily raising the government’s borrowing limit to $US28.9 trillion ($A39 trillion), pushing off the deadline for debt default only until December. Without the increase in the debt ceiling, the US Treasury had estimated it would run out of money to pay the nation’s…

Union fight plan to volunteer on NSW farms

SYDNEY, AAP – A plan to get NSW public servants to volunteer to help harvest the state’s bumper crop has hit a hurdle with the union saying it’s ‘a pie in the sky idea’. Deputy Premier and Nationals Leader Paul Toole on Thursday unveiled a new strategy to try and help growers, announcing that thousands…

Tech, miners keeping ASX higher

SYDNEY, AAP – Australian shares were losing their bright start at the end of the week and investors were struggling to hold on to gains. The market climbed early on Friday after a good US lead but had since eased to be up by only a quarter of a per cent at 1215 AEDT. Technology…

Microsoft shutting down LinkedIn in China

REDMOND, AP – Microsoft is shutting down its LinkedIn service in China later this year after censorship rules were tightened by the country’s authorities. The company said in a blog post on Thursday it has faced “a significantly more challenging operating environment and greater compliance requirements in China”. LinkedIn will replace its localised platform in…