The Visa Spending Momentum Index (SMI) for Australia has increased by 2.7 points in March to reach 98.6, signalling a rebound in consumer spending after two months of decline. The March SMI data reflects the end of subdued consumer activity that followed a strong December result, suggesting that Australian consumer sentiment may be stabilising. The index is based on VisaNet transaction data and measures the year-on-year change in household spending, filtering out fluctuations that could obscure broader economic trends.
The Federal Court of Australia has ruled in favour of digital asset platform Block Earner, overturning prior findings that its discontinued crypto lending product, Earner, constituted a managed investment scheme or financial investment facility under the Corporations Act 2001. In a judgment handed down by Justices O'Callaghan, Abraham and Button, the Full Court dismissed the Australian Securities and Investments Commission's (ASIC) appeal and allowed Block Earner's cross-appeal.
International design, engineering and advisory company Aurecon has appointed Todd Battley as its new Chief Executive for Australia. Mr.Battley has 29 years of industry experience and joins Aurecon from AECOM, where he held roles including Chief Strategy Officer and Chief Executive for Australia and New Zealand.
The recent government budget announcement has sparked significant discussions within various sectors in Australia, particularly in the fields of education, technology, and labour laws. With extensive investment planned in these domains, industry leaders have voiced their perspectives on the potential impacts.
The PLA Navy’s unprecedented live-fire exercise 640 kilometres off the south coast of New South Wales, quickly followed by a second such exercise closer to New Zealand, was provocative and deeply regrettable. But it does not call for an immediate aggressive Australian response, it does not show that the Australian government’s diplomacy is failing, and it certainly does not indicate that Australia is helpless as China’s military power grows.