Business Update – 22 December 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Kevin Rudd is the next ambassador to the US
Kevin Rudd will serve as Australia’s next ambassador to the United States. Anthony Albanese said Rudd’s appointment would strengthen Australia’s diplomatic capability and prosecution of national interests around the globe.
Twitter users believe Elon Musk should step down
A Twitter poll created by Elon Musk asked whether he should step down as head of Twitter. Most respondents voted yes.
RBA defends its most recent cash rate rise because it could have been worse
Earlier this month, the central bank pushed the cash rate by 25 basis points to 3.1 per cent. However, they said that returning to interest rates rises of 50 basis points isn’t out of the question for the new year.
Jan. 6 committee recommends criminal charges
The January 6 Committee recommended that the Department of Justice look into four people, including former President Trump, for obstruction of an official proceeding, conspiracy to defraud the United States, and assisting, aiding, or comforting an insurrection.
185-year-old David Jones brand coming back under Australian ownership
Australian department store chain David Jones will be back under Australian ownership after being bought by a private equity firm. South African-based Woolworths Holdings Limited bought David Jones in 2014 for $2.1bn.
FTX founder agrees to extradition
Sam Bankman-Fried has agreed to voluntary extradition to the United States from the Bahamas, with his next court appearance expected to happen this week. He was charged with eight counts of wire fraud and conspiracy.
Help with energy bills is on the horizon
Australians are being warned that relief from soaring power prices could take months to flow through. But help is at hand with $3 billion in electricity bill discounts from next April.
The ‘regional renaissance’ brought on by Covid-19 has slowed, but it hasn’t stopped
The PropTrack Regional Australia 2022 Report found Queensland remained the most popular destination for those looking to relocate within Australia. The biggest growth in demand per listing is in the Darling Downs-Maranoa (+51%), Cairns (+25%), Toowoomba (+17%) and Mackay-Isaac-Whitsunday (+17%).
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