Business News Update – 1st February 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward.

Data Privacy Day 2024: Aussies want transparency, businesses need action

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On Data Privacy Day, observed each year on January 28th, Australians and businesses are reminded of the vital importance of privacy. “Ironically, Data Privacy Day is a reminder that data privacy isn’t something a business can achieve in a single day at all”, says Pete Murray, Managing Director ANZ at Veritas Technologies.

Consumer stress grows, but cost of living concerns begin to fall, survey finds

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Consumer stress has risen for the fifth straight quarter, but concerns over cost of living are beginning to decrease as inflation eases, a new report has revealed.

Roy Morgan Business Confidence increased 5.3pts to 91.1 in December – after the RBA left interest rates unchanged at 4.35%

In December 2023 Roy Morgan Business Confidence was 91.1 (up 5.3pts since November). The rebound in Business Confidence came after the RBA left interest rates unchanged at 4.35% in its final meeting for the year in early December. Business Confidence has now spent a record eleven consecutive months below the neutral level of 100, the longest stretch in negative territory in the history of the index dating back over a decade to 2010..

Stage-three tax cuts: how the Albanese government’s changes will affect you

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Federal cabinet has approved an overhaul of the Morrison government’s scheme. See how much you will receive under the new packages.

Inflation expectations and economic literacy

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The Reserve Bank of Australia (RBA) bulletin reveals a correlation between economic literacy and inflation expectations. The level of community awareness and understanding of basic economic issues can influence a central bank’s ability to achieve its goals, such as by anchoring the public’s inflation expectations in line with its inflation target.

Top-performing superannuation funds revealed

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Superannuation fund members received a solid boost to their retirement savings in 2023, despite a challenging economic backdrop.

Double-digit decrease in int’l airfares; which routes saw the biggest drops across each cabin?

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In positive news for international travel, outbound airfares from Australia have taken a nosedive across all cabins, new data from Flight Centre’s corporate division has revealed.

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