Australia's most powerful central banker has suggested corporate insolvencies are at a decade-high during a building crisis because many companies couldn't cope with interest rates rising from record lows. Reserve Bank of Australia Governor Michele Bullock has weighed into this to imply many of these businesses couldn't cope with interest rates rising from a record-low of 0.1 per cent. Reserve …
The tax office is chasing more than $34 billion worth of debts owed by small businesses and self-employed Australians that were put on hold during COVID, and sometimes using aggressive enforcement action to collect the money, which experts say is sending some businesses to the wall. "If the ATO were to pursue this debt aggressively, you'd probably find a lot …
Experts predict business insolvencies in the UK will rise by 15 per cent in 2023 In comparison, Germany's economy will decline by 0.7 and France's by 0.4 The UK economy is mired in deepening gloom today as figures showed manufacturing slumping. Analysts at insurer Allianz Trade predicted UK plc will shrink 0.9 per cent this year as it is battered …
Australia's largest home builder, Metricon, has been forced to deny reports it is in financial difficulty after the unexpected death of its founder just days ago. Key points: Metricon employs 2,500 staff and is currently building around 4,000 homes The company has been hit by rising costs but strongly denies it is on the brink of collapse Metricon met with …
