AGP Executive Report
Last update: an hour agoRetail: David Jones has entered voluntary administration after talks with its landlord collapsed. Its 38 stores will keep trading while administrators seek a buyer or recapitalisation, but more than 6,000 jobs are at risk. Inflation and Rates: The RBA’s deputy governor says Australians’ confidence in the bank’s ability to tame inflation is slipping after its fifth rate rise this year pushed rates to an 18-year high of 4.85%. Tech Jobs: Canva’s restructuring will affect about 1,200 staff, or 22% of its workforce; the company is offering at least six months’ pay and healthcare. Trade and Industry: Australia’s September trade surplus reached $2.826 billion, its highest in seven months. FTC Solar also signed a non-binding agreement with four Australian steel firms to explore supplying components for local solar projects. Worker Protections: Regulators are inspecting Perth businesses in sectors including hospitality and retail for underpayment and other breaches affecting visa-holding workers.
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