Finance

Wotif co-founder Andrew Brice invests $1 million in new health food venture

pstafford@smartcompany.com.au (Patrick Stafford) — Tue, 07 Feb 2012 00:50:53 +0000

Wotif co-founder Andrew Brice has invested $1 million in a venture that designs and produces healthy, pre-made meals for diabetics, with the entrepreneur saying he will continue to look for new venture capital opportunities.

Bank fire sales of SME property assets prompt call for Senate inquiry into banking

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Mon, 06 Feb 2012 23:25:08 +0000

Nationals Senator John Williams is speaking with fellow Senators about the prospect of an inquiry into whether banks are pulling loans to small business clients including farmers, leading to assets being sold at rock-bottom levels.

Quickflix wins $10 million investment from American television network HBO

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 06 Feb 2012 00:56:57 +0000

American television network HBO has invested $10 million in DVD and online rental business Quickflix, which says it intends to start ramping up its marketing efforts as subscriber growth continues to climb.

CreditorWatch sets sights on banks after multi-million dollar investment

ekrieger@smartcompany.com.au (Michelle Hammond ) — Sun, 05 Feb 2012 22:24:19 +0000

Credit reporting service CreditorWatch has secured funding from Nightingale Partners in what is understood to be a multi-million deal, as it sets its sights on major clients including the big banks.

Xero acquires Max Solutions after raising $15 million

ekrieger@smartcompany.com.au (Michelle Hammond ) — Thu, 02 Feb 2012 21:54:43 +0000

Accountancy software company Xero has raised $15 million to fund global growth and has made its first acquisition for the year, snapping up Max Solutions in a deal worth almost $5 million.

Business owned by Mick Gatto collapses with $3 million tax bill

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Wed, 01 Feb 2012 00:54:13 +0000

A business owned by Mick Gatto has collapsed, with the underworld figure blaming a bank for failing to provide promised funding to pay off the Tax Office.

Australian businesses open to trading in yuan

pstafford@smartcompany.com.au (Patrick Stafford) — Tue, 31 Jan 2012 01:04:29 +0000

Retailers may be able to get a better deal by trading with Chinese suppliers in yuan instead of US dollars, but experts have warned that it won't work for all businesses.

Financial services lobby group claim middle-aged men facing age discrimination

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 30 Jan 2012 00:42:53 +0000

A new report claims men in the financial services sector are facing some kinds of discrimination, including being chosen first for downsizing and missing out on training opportunities, as managers in their 30s prefer to hire and promote those within their own age brackets.

Personal property securities register starts today, experts warn SMEs to stay informed

pstafford@smartcompany.com.au (Patrick Stafford) — Sun, 29 Jan 2012 23:33:33 +0000

The new Personal Property Securities Register begins from today, and businesses are continually being warned to read up on as much as they can in order to avoid missing out on registering their interest in securities.

Bankers call for delay to financial advice reforms

ekrieger@smartcompany.com.au (Myriam Robin) — Tue, 17 Jan 2012 23:34:34 +0000

The banking lobby has joined the chorus asking the Federal Government to delay the implementation of its financial advice reforms, which will ban commissions and require financial advisers to ask clients whether they wish to continue receiving their service every two years.

ATO warns businesses big and small to fess up on tax problems

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 16 Jan 2012 23:43:23 +0000

While the Australian Taxation Office has this morning warned big businesses to approach the agency before private tax problems spin out of control, experts say the commissioner is speaking squarely to small and medium-sized enterprises as well.

Strong credit card usage by SMEs helps push national bill to $50 billion

ekrieger@smartcompany.com.au (Myriam Robin) — Fri, 13 Jan 2012 00:39:20 +0000

Strong credit card usage by small- and medium-sized enterprises helped push Australian credit card debt to a record $50 billion in November, experts say.

Stayz members receive compensation after holiday technical glitch

pstafford@smartcompany.com.au (Patrick Stafford) — Thu, 12 Jan 2012 23:49:48 +0000

Members of the Fairfax-owned holiday accommodation listing site Stayz have received compensation after the website suffered a technical glitch that stopped them being paid for properties rented out to tenants.

Steel drum manufacturer for sale after parent company placed in receivership

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 09 Jan 2012 01:02:23 +0000

One of the country's largest steel drum manufacturers has been put up for sale, after its parent company, which is also one of the country's largest plastics manufacturers, was placed into receivership last month.

NAB takes a bite out of Apple with design for new retail branches

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Thu, 05 Jan 2012 23:38:12 +0000

Apple has always been lauded for its engaging stores, and now the staid world of banking has followed suit with branches designed to engage the senses, and eventually boost your credit line.

HIA upgrades housing starts forecasts, but warns industry still has a long way to go

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 19 Dec 2011 23:56:54 +0000

The Housing Industry Association has amended its forecasts for housing starts in the year ahead, saying it expects the current financial year to result in just 141,000 new starts, well below demand.

Zynga prepares for what could be biggest technology IPO in years

pstafford@smartcompany.com.au (Patrick Stafford) — Fri, 16 Dec 2011 00:44:04 +0000

Social gaming company Zynga is expected to float in the next 24 hours in a float that will raise $US1 billion, value the company at $7 billion and be the biggest tech float since Google went public in 2004.

Court orders DFO executives David Goldberger and David Wieland to pay interest to investors

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 12 Dec 2011 23:34:01 +0000

The Victorian Supreme Court has ordered millionaires David Goldberger and David Wieland to pay millions in unpaid interest to the investors behind the troubled DFO South Wharf project.

Australians urged to “vote with their feet” on interest rate cuts – but is it really that easy for business customers?

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Fri, 09 Dec 2011 00:29:43 +0000

As Treasurer Wayne Swan reminded us this week, Australians can vote with their feet if their bank don't pass on interest rate cuts to their customers.

Science Exchange raises $1.5 million in Silicon Valley funding

ekrieger@smartcompany.com.au (Michelle Hammond) — Thu, 08 Dec 2011 22:19:27 +0000

Australian-founded Science Exchange has raised $1.5 million in funding from a raft of Silicon Valley investors, after graduating from Y Combinator just months ago.