{"id":7505,"date":"2024-03-06T07:50:46","date_gmt":"2024-03-05T20:50:46","guid":{"rendered":"https:\/\/ngaa.com.au\/?p=7505"},"modified":"2024-03-05T09:06:02","modified_gmt":"2024-03-04T22:06:02","slug":"business-update-06-march-2024","status":"publish","type":"post","link":"https:\/\/ngaa.com.au\/business-update-06-march-2024\/","title":{"rendered":"Business Update \u2013 06 March 2024"},"content":{"rendered":"

Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy.<\/p>\n

Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut<\/h2>\n

Inflation remained flat in January at a two-year low<\/a>, helped by falling prices for meat and seafood, stoking hopes the Reserve Bank may bring forward interest rate cuts.<\/p>\n

NAB CEO on the economy, simplification, and the future of banking<\/h2>\n

NAB CEO Ross McEwan has expressed optimism about the state of the economy<\/a>, while also noting the need to reduce red tape to better support the growth of small businesses in Australia. In a wide-ranging discussion at the Australian Banking Association and Trans-Tasman Business Circle \u2018Economic Forecast 2024\u2019 event in Sydney, Mr McEwan said both the Australian and New Zealand economies had been resilient amid challenging conditions.<\/p>\n

Weak consumer spending won\u2019t stop price rises<\/h2>\n

Tepid consumer spending on discretionary items, such as sporting equipment and liquor, won\u2019t stop businesses pushing through more price increases for phone and internet plans, insurance and other household necessities, chief executives say<\/a>.<\/p>\n

\u2018Too much optimism\u2019: Investors nervous despite resilient recent earnings<\/h2>\n

Despite being cautiously optimistic about company earnings this month, some investors and economists are preparing for tough times ahead<\/a> amid sticky inflation risks and continued consumer weakness, while markets wait for a rate cut.<\/p>\n

The ASX hit fresh records this week, but that doesn\u2019t mean the economy is OK<\/h2>\n

Stocks on Wall Street are trading at record highs, the Australian stock market hit a fresh closing high yesterday, and the property market is producing its own records \u2014 assets are performing extremely well for investors. As for the economy? It\u2019s \u201cquite weak\u201d, treasurer Jim Chalmers notes. It\u2019s a conundrum<\/a> because many industry professionals traditionally tie the upward movements of financial markets with strong growth in the economy.<\/p>\n

Australians lose nearly $1 billion a year in card surcharges and the RBA has warned banks it has to stop<\/h2>\n

Analysis based on data from the RBA reveals Australians are losing $960.26 million a year in surcharges<\/a> when they pay with their cards instead of using cash.<\/p>\n

The R&D tax incentive deadline is approaching. Here\u2019s what businesses should know<\/h2>\n

The cost of doing business is rising, economic conditions are harsh, and organisations across the spectrum are searching for ways to trim their overheads and operational costs. While balancing this financial tightrope, many businesses remain unaware of a generous tax benefit that fosters innovation and growth \u2014 the Research and Development Tax Incentive (R&DTI)<\/a>.<\/p>\n

Get in touch<\/h2>\n

Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut Inflation remained flat in January at a two-year low, helped by falling prices for meat and seafood, stoking hopes the … Continued<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","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":[66],"tags":[67],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nBusiness Update \u2013 06 March 2024 - NGA Accounting, Sydney<\/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:\/\/ngaa.com.au\/business-update-06-march-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 06 March 2024 - NGA Accounting, Sydney\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. 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