THE NEWS WRAP: Australian dollar breaks through 104 US cents
Sunday, April 3, 2011/
Three quarters of Australian retailers are losing out on $50,000 in sales a year due to the GST-free threshold on overseas purchases, an industry body has claimed.
In a submission to the Productivity Commission into retailing, the National Retail Association said that 12% of retailers have lost more than of their turnover to foreign websites. The NRA obtained the figures via a survey of 156 SME retailers.
ASIC to ramp up liquidator scrutiny
The Australian Securities and Investments Commission is set to ramp up its insolvency division amid growing complaints from businesses, creditors and investors about liquidators.
The increased surveillance of liquidators follows the near-record 14,385 insolvency appointments last year, with rising complaints over liquidators’ excessive fees, conflicts and long delays.
US unemployment drops
Unemployment in the US has hit a two-year low, raising hopes that the country’s economy is finally beginning to climb out of its malaise.
Figures from the US Department of Labor showed that unemployment fell to 8.8% in March, with the rate of growth in manufacturing the highest since May 2004.
The Dow Jones industrial average edged up by 56.99 points to 12,376.72. For the first time since it started trading in 1983, the Australian dollar broke through 104 US cents, standing at $US1.0403 this morning.
Be honest about your situation: How vulnerability helps businesses thrive Sue Parker DARE Group founder
Own it: The 10 things you need to do to manage your personal brand Lisa Stephenson Who Am I Projects founder
Six invaluable lessons: What 20 years in aged care taught me about being an entrepreneur Natasha Chadwick NewDirection Care founder
An entrepreneurial superpower: Eight tips to help develop resilience Adala Bolto ZADI Training co-founder
Going through a lull? Five areas you should invest in when sales drop Tamara Alaveras and Sonia Majkic 3 Phase Marketing co-founders
Stop telling us how busy you are, it's boring and charmless Ian Whitworth Scene Change co-founder
Blandification™ and the state of modern branding Jeffrey Oley The Offices co-founder
Why you should find the right role for the right person — not the other way around Bruce Stronge Outfit founder