Monday, May 23, 2022

Almost two thirds of Aussies face challenges paying surprise $2,000 bill

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Most Australian households would struggle to pay over $2,000 for unexpected but necessary services like urgent home and vehicle repairs or dental work, according to a new Australian Household Threshold report. The report – based on a survey of over 1,000 Aussies by Antenna Strategic Insights for payments and funding solutions firm QuickFee – found that an unexpected bill above $1,500 would stretch the budget for 45% of Australian households.

doola launches product that enables any business to open a U.S account

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doola announced that they have launched a product for businesses that will allow founders to open a US bank account from any continent, with no US Social Security Number required. Founders can now register an LLC, DAO LLC, or C Corp through doola, get an EIN (employer identification number) from the IRS with doola, and open a US bank account with doola.

TrueLayer teams up with Biza.io as CDR expands to open finance

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Biza.io, the player in Australian Consumer Data Right (CDR) compliance, has successfully supported global open banking player TrueLayer to de-risk and accelerate its journey to becoming an active Accredited Data Recipient (ADR) in Australia.

Businesses face period of rapid expansion thanks to budget initiatives

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As businesses grapple with COVID recovery and the impact of global events, the federal government has implemented some initiatives for business that are likely to ramp up sections of the economy, particularly those involving apprenticeships and technology and training. Earlypay client service managers across the country are already seeing a rise in the number of businesses seeking funding to invest in technology and training and staffing in the form of new apprenticeships. Earlypay Limited, an ASX-listed company (EPY), is Australia’s leading customer-focused business financing organisation. It provides invoice financing, equipment financing and trade financing to Australian small to medium-sized businesses.

JSSI grows its financial leadership team with two key appointments

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Jet Support Services, Inc. (JSSI), a provider of maintenance support and financial services to the business aviation industry, has appointed Tim Elberfeld as CFO and named Ken Goodman as chief underwriting officer. Both Elberfeld and Goodman will report to the CEO, Neil Book. Elberfeld brings more than 20 years of experience across global businesses in all aspects of finance and accounting, including M&A and system implementations, to his new role as chief financial officer and head of information technology at Jet Support Services, Inc. (JSSI).

HCL to buy digital banking and wealth management specialist Confinale

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HCL Technologies UK Ltd, a subsidiary of HCL Technologies (HCL), a tech company, has signed a definitive agreement for the acquisition of Confinale AG, a Swiss-based digital banking and wealth management consultacy and Avaloq Premium Implementation Partner. HCL will increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities. Founded in 2012, Confinale focuses on IT consulting in key specialist areas in banking and wealth management sector.

UK retail investors are unshaken by the raging Russia-Ukraine conflict

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New research conducted by HYCM found that UK retail investors have remained composed in the face of the Russia-Ukraine conflict, despite significant concerns about future implications of the crisis on the financial markets, international relations, and the environment. The trading broker commissioned an independent survey of 726 UK-based investors, all of whom have investments in excess of £10,000, excluding the value of their residential property, savings, and workplace pensions. It found that only 14% of investors monitor the conflict between Russia and Ukraine when thinking about their investment strategy.

EY releases its analysis of Australian major banks’ 2022 half year results

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Robust asset growth and quality, capital returns and careful expense management have all contributed to a solid performance from Aussie’s major banks in their 2022 half year results, although margins continue to constrain earnings according to analysis from Ernst & Young, Australia. The EY Australia report shows the big four banks delivered combined cash earnings of $14.4bn for the 2022 half year, an increase of 5.1% from the same time last year.

8 common misconceptions about Research & Development support

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Research & Development (R&D) financing is a strategic and safe way for start ups and companies to boost their cash flow and capital. Research & Development financing is a loan that is borrowed against the receipt of a yearly R&D tax return. The loan allows companies to access the funds they are expecting to receive as part of their R&D tax incentive early. 

Northleaf leads A$250m secured credit facility for Omni Bridgeway

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Northleaf Capital Partners (Northleaf) announced that it acted as the lead arranger of a A$250 million senior secured credit facility for Omni Bridgeway, a global player in financing and managing legal risks, with expertise in civil and common law legal and recovery systems.