{"id":6216,"date":"2023-09-05T10:44:07","date_gmt":"2023-09-05T00:44:07","guid":{"rendered":"https:\/\/ghr.com.au\/?p=6216"},"modified":"2023-09-05T11:20:41","modified_gmt":"2023-09-05T01:20:41","slug":"business-update-6-september-2023","status":"publish","type":"post","link":"https:\/\/ghr.com.au\/business-update-6-september-2023\/","title":{"rendered":"Business Update \u2013 6 September 2023"},"content":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy.<\/p>\n<h2>Australia\u2019s inflation rate eased to 4.9% in July, down from 5.4% in June<\/h2>\n<p>Australia\u2019s inflation rate eased last month to its lowest level in 17 months, led by falling prices for fresh produce and automotive fuel, <a href=\"https:\/\/www.theguardian.com\/business\/2023\/aug\/30\/rba-inflation-rate-australia-july-4-9-eased\" target=\"_blank\" rel=\"noopener\">reducing the likelihood the Reserve Bank will need to raise interest rates again.<\/a><\/p>\n<h2>One in four NSW businesses think they&#8217;ll slash workforce<\/h2>\n<p>Almost a quarter of businesses across all major industries in\u00a0New South Wales\u00a0<a href=\"https:\/\/www.9news.com.au\/national\/one-in-four-nsw-businesses-expect-to-cut-staff-survey-finds\/ccf9428e-f2f8-41d6-b1ad-96beb7ddd3b3\" target=\"_blank\" rel=\"noopener\">plan to cut staff numbers<\/a> over the next three months, new research has found.<\/p>\n<h2>Pepper Money buys HSBC&#8217;s $1.3 billion NZ mortgage portfolio<\/h2>\n<p>One of Australia&#8217;s leading non-bank lenders Pepper Money (ASX: PPM) has reached a deal with HSBC to <a href=\"https:\/\/www.businessnewsaustralia.com\/article\/article\/view\/article\/157733\" target=\"_blank\" rel=\"noopener\">acquire its\u00a0New Zealand prime residential mortgage portfolio<\/a>, which has an outstanding balance of approximately NZ$1.4 billion ($1.29 billion).<\/p>\n<h2>\u2018Markets have been able to recover\u2019: Interest rate pause expected as markets find peace<\/h2>\n<p>CommSec\u2019s <a href=\"https:\/\/www.skynews.com.au\/business\/markets\/markets-have-been-able-to-recover-interest-rate-pause-expected-as-markets-find-peace\/video\/23666288e15eb4cd8bdff2434708e2ee\" target=\"_blank\" rel=\"noopener\">Tom Piotrowski says markets seem to have found some peace<\/a> \u201cfor the moment\u201d, which could lead to a pause of future interest rate hikes.<\/p>\n<h2>Wealth of data to shed light on Australian economy<\/h2>\n<p>Inflation figures and a\u00a0<a href=\"https:\/\/au.sports.yahoo.com\/wealth-data-shed-light-australian-020000737.html\" target=\"_blank\" rel=\"noopener\">speech by incoming Reserve Bank governor<\/a> Michele Bullock will be closely watched for signs of Australia&#8217;s economic slowdown.<\/p>\n<h2>Slowdown in China\u2019s economy and deflation is a \u2018warning\u2019 for Australia<\/h2>\n<p>The slowdown in China\u2019s economy and its deflation is a \u201cwarning\u201d for Australia, <a href=\"https:\/\/www.skynews.com.au\/world-news\/china\/slowdown-in-chinas-economy-and-deflation-is-a-warning-for-australia\/video\/82e53b2b5d1915ab1bdaf9f20fb70854\" target=\"_blank\" rel=\"noopener\">according to Sky News Business Editor<\/a> Ross Greenwood.<\/p>\n<h2>Climate change will impact interest rates, incoming RBA boss says<\/h2>\n<p>Incoming Reserve Bank boss Michele Bullock has <a href=\"https:\/\/www.heraldsun.com.au\/business\/economy\/interest-rates\/climate-change-will-impact-interest-rates-incoming-rba-boss-says\/news-story\/8ef1a1939751fedd15d28086b1700c4e\" target=\"_blank\" rel=\"noopener\">warned the RBA will consider climate change<\/a> when setting future interest rates.<br \/>\n<a href=\"https:\/\/www.heraldsun.com.au\/business\/economy\/interest-rates\/climate-change-will-impact-interest-rates-incoming-rba-boss-says\/news-story\/8ef1a1939751fedd15d28086b1700c4e\">Read More<\/a><\/p>\n<h2>Government prepares for battle over the gig economy<\/h2>\n<p>Gig economy workers in Australia are set to benefit from minimum pay and protection against unfair deactivation. A series of <a href=\"https:\/\/www.sbs.com.au\/news\/podcast-episode\/government-prepares-for-battle-over-the-gig-economy\/g02v90f6q\" target=\"_blank\" rel=\"noopener\">new industrial relations laws<\/a> has been released to remove pressure from gig workers relying on tips to make ends meet.<\/p>\n<h2>Independent review into small business payment times<\/h2>\n<p>The government has released the <a href=\"https:\/\/www.nationaltribune.com.au\/independent-review-into-small-business-payment-times\/\" target=\"_blank\" rel=\"noopener\">written report of the independent review of the Payment Times Reporting Act 2020<\/a>. The review finds that the Payment Times Reporting Scheme has merit but current legislative requirements impose unnecessary regulatory burdens on reporting entities, compromise the accuracy and accessibility of the payment times data and limit the effectiveness of the Regulator. The review makes 14 recommendations, encompassing 23 actions for Government.<\/p>\n<h2>Corruption damages national economy<\/h2>\n<p>Australia faces the prospect of lower investment, a weaker health system and higher business costs without a concerted effort to tackle corruption. Assistant Treasury Minister Andrew Leigh outlined some of the <a href=\"https:\/\/au.sports.yahoo.com\/corruption-damages-national-economy-minister-173000908.html\" target=\"_blank\" rel=\"noopener\">risks from corruption<\/a> in a speech to Transparency International Australia.<\/p>\n<h2>Get in touch<\/h2>\n<p>Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n<p><a class=\"button\" href=\"\/contact-us\/\">Contact us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s inflation rate eased to 4.9% in July, down from 5.4% in June Australia\u2019s inflation rate eased last month to its lowest level in 17 months, led by falling prices for fresh produce and &hellip; <a href=\"https:\/\/ghr.com.au\/business-update-6-september-2023\/\">Continued<\/a><\/p>\n","protected":false},"author":2,"featured_media":5642,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Update \u2013 6 September 2023 - GHR Accounting Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ghr.com.au\/business-update-6-september-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 6 September 2023 - GHR Accounting Group\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s inflation rate eased to 4.9% in July, down from 5.4% in June Australia\u2019s inflation rate eased last month to its lowest level in 17 months, led by falling prices for fresh produce and &hellip; Continued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ghr.com.au\/business-update-6-september-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"GHR Accounting Group\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-05T00:44:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-05T01:20:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bizink\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bizink\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/\",\"url\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/\",\"name\":\"Business Update \u2013 6 September 2023 - GHR Accounting Group\",\"isPartOf\":{\"@id\":\"https:\/\/ghr.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"datePublished\":\"2023-09-05T00:44:07+00:00\",\"dateModified\":\"2023-09-05T01:20:41+00:00\",\"author\":{\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/b104a78b45b435df4451167efced007b\"},\"breadcrumb\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ghr.com.au\/business-update-6-september-2023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/#primaryimage\",\"url\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"contentUrl\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"width\":750,\"height\":500,\"caption\":\"Weekly Update 1.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ghr.com.au\/business-update-6-september-2023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ghr.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Update \u2013 6 September 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ghr.com.au\/#website\",\"url\":\"https:\/\/ghr.com.au\/\",\"name\":\"GHR Accounting Group\",\"description\":\"Accountants Northern Beaches | Financial Planners | GHR\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ghr.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/b104a78b45b435df4451167efced007b\",\"name\":\"Bizink\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/faa045ce72d95971cd78a70031145145?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/faa045ce72d95971cd78a70031145145?s=96&d=mm&r=g\",\"caption\":\"Bizink\"},\"url\":\"https:\/\/ghr.com.au\/author\/bizinkwpadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Update \u2013 6 September 2023 - GHR Accounting Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ghr.com.au\/business-update-6-september-2023\/","og_locale":"en_US","og_type":"article","og_title":"Business Update \u2013 6 September 2023 - GHR Accounting Group","og_description":"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. 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