Business and Finance

  • Payment transparency

    Payment transparency the focus of proposed legislation

    Legislation has been introduced to the Australian Parliament which forces big businesses to be transparent about their payment times. The tabled Payment Times Reporting Bill 2020 will require businesses with tu... more
  • funding

    Slowdown in investment visas hampering funding

    A backlog in Investor Visa (IV) and Significant Investor Visa (SIV) applications and a slowdown in processing times is frustrating the supply of urgent funding for venture capital and emerging companies to surv... more
  • Remote work

    Remote work technology sees growth during Covid-19

    There are no hard numbers yet to illustrate the extent to which the Covid-19 pandemic has affected the oil and gas industry’s digitisation. However, a Rystad Energy analysis of service companies’ earnings c... more
  • economy

    Positioning the Australian economy for recovery

    During his ministerial address at the Parliament House in Canberra on 12 May, Treasurer Josh Frydenberg said it is projected that Australia’s GDP will fall by over 10 per cent in the June quarter. This woul... more

Payment transparency the focus of proposed legislation

Legislation has been introduced to the Australian Parliament which forces big businesses to be transparent about their payment times. The tabled Payment Times Reporting Bill 2020 will require businesses with turnover of more than $100 million to publish information about their payment policies. The Australian Small Business and Family Enterprise Ombudsman Kate Carnell said the Australian small business community has been devastated by the COVID-19 health and economic crisis and prompt payment times are critical to their survival. “This reporting framework will require big businesses to be up front and ho... more

Slowdown in investment visas hampering funding

A backlog in Investor Visa (IV) and Significant Investor Visa (SIV) applications and a slowdown in processing times is frustrating the supply of urgent funding for venture capital and emerging companies to survive throughout COVID-19. Up to 50 applications remain frozen in the final stages of approval because of travel restrictions introduced in response to the COVID-19 crisis. Executive Chairman of Atlas Advisors Australia, Guy Hedley said it follows a downward trend in approvals under the program with slow processing times impeding the delivery of urgently needed funding for venture capital and emerging ... more

Remote work technology sees growth during Covid-19

There are no hard numbers yet to illustrate the extent to which the Covid-19 pandemic has affected the oil and gas industry’s digitisation. However, a Rystad Energy analysis of service companies’ earnings calls reveals a clear growth in cost-saving remote work technologies. Given the limited options of low-hanging cost savings in the current downturn, operators and suppliers are looking towards digital technologies to realise cost efficiencies. For operators whose cash balances are not under short-term strain, the low oil-price environment is an ideal testing ground for new technologies as the opportunity... more

Positioning the Australian economy for recovery

During his ministerial address at the Parliament House in Canberra on 12 May, Treasurer Josh Frydenberg said it is projected that Australia’s GDP will fall by over 10 per cent in the June quarter. This would represent the nation’s biggest fall on record. “At $50 billion, this is a loss equivalent to the total combined quarterly production of South Australia, Tasmania, the Northern Territory and the ACT,” he said. The Treasury is also forecasting the unemployment rate to reach around 10 per cent, or 1.4 million unemployed, in the June quarter. “This 5 percentage point increase in the unem... more

Australia’s economic impacts from the coronavirus

In a joint statement, the Hon. Josh Frydenberg MP, Treasurer of Australia, and Senator the Hon. Mathias Cormann, Minister for Finance, have stated that the Federal Government has taken “decisive and unprecedented action” to protect Australians and the economy from the effects of the coronavirus. So far, the Government has thrown $320 billion at the crisis, or 16.4 per cent of GDP. With the coronavirus pandemic having major health and economic impact globally, the Treasurer and Minister for Finance state that Australia has made “important gains” in containing the spread of the virus. “The near-ter... more

Shell cuts dividends due to ‘unprecedented’ outlook

The Board of Royal Dutch Shell plc has announced it will slash its dividend by 66 per cent, the first time the company has cut cash distributions to shareholders since World War II. Shares will be reduced from the US$ 0.47 dividend for the same quarter last year to US$ 0.16 per share. The annual pay-out will fall from US$14.9 billion to US$5.1 billion, freeing up US$10 billion of capital. The last time one of the supermajors cut the dividend was BP, in the immediate aftermath of the Macondo disaster. Shell said the pace and scale of the societal impact of COVID19 and the resulting deterioration in the m... more

New report reveals the directors leading Australia’s economy

Australia’s corporate response to the coronavirus (COVID-19) pandemic is being led by 563 people, whose identities and remuneration have been revealed in a brand-new comprehensive analysis of the nation’s boardrooms. These individuals run Australia’s 100 largest companies and are the key decision-makers in the country’s corporate response to the greatest economic threat since the Great Depression. The recently released Apollo Communications ASX-100 Board of Directors Report unpacks the pathways to success for the country’s most powerful business elite. The report examines what skills our busin... more

Economic growth in Australia expected to rebound

The International Monetary Fund’s (IMF) latest World Economic Outlook (WEO) sees faltering and forecasts negative global growth of - 3 per cent in 2020 due to the coronavirus (COVID-19) pandemic. On Monday, IMF Chief Economist, Gita Gopinath, said that under the assumption that the COVID-19 pandemic and required containment peaks in the second quarter in most countries of the world and then recedes in the second half of this year, the IMF is projecting global growth in 2020 to fall to - 3 per cent. “This is a downgrade of 6.3 percentage points from January 2020. A major revision over a very short perio... more

Chemical and oil companies to slash capex

In the wake of the coronavirus and collapse in crude oil prices, chemical, and oil and gas, and midstream companies will all slash capital spending (capex) for growth projects to preserve cash. As a result, the US and global chemical investment wave looks to slow considerably in the years ahead. While major US chemical projects under construction should continue, the fall in Brent crude oil prices and the shrinking of the Brent/US Henry Hub natural gas ratio from the 30s to the mid-teens “puts into question the economics long term”, said Kevin Swift, chief economist of the American Chemistry Council (ACC)... more