ECONOMY

The Aussie dollar soared against the US currency on Friday, climbing past 77 US cents. The Australian dollar reached 77.14 US cents.

Kitchen Republik has been fined $107,551 for underpaying a foreign employee over a period of nine months from 2014 to 2015.

According to newly revealed documents, environmental health is not important to the governing body as it cut programs and sold Ecofund for less than what it costs. Ecofund was a state-owned carbon and environmental offsetting and advisory company.

The Reserve Bank of Australia released the newly designed $10 banknote on Friday featuring the famous Australian writers Andrew Barton "Banjo" Paterson and Dame Mary Gilmore.

The United States is currently in its “bunny phase,” a recognised economist has said. The reference came during the Fargo Moorhead West Fargo Chamber of Commerce’s annual Economic Outlook Forum. The event was attended by 600 people.

The National Australia Bank (NAB) has released a survey in January showing that the country's economy was stronger compared to last year's Q3 report.

Alibaba founder Jack Ma said during the opening of the first Australian and New Zealand branch of his company on Saturday that Australia is a gold mine.

Retail sales for December witnessed a surprising decline, as noted by the data released by the Australian Bureau of Statistics. The decline for the sales in December accounted for 0.1 percent, which was in contradiction to the market expectations of a 0.3 percent rise.

US President Donald Trump scrapped the involvement of America in the Trans-Pacific Partnership (TPP) free deal when he signed an executive order on Monday, withdrawing the country's participation in the deal.

Fewer Aussie CEOs has expected business conditions to improve in 2017 than in the previous year. However, they were cautious optimistic in the improvement according to AI Group's Business outlook survey.

Donald Trump’s first press conference after winning the presidential election in which he addressed his alleged Russian connection has caused the Australian dollar to surge by one US cent. It is expected to surge further up to 78 US cents.

Data shows that job vacancies increased by 2 percent to 181,000 in the three months until November. Compared to the same period of time last year, this rise is 7 percent more.

Australia’s retail sales figures are out, and they are not even near to what was expected. The AUD saw a relative declined in value in early local trade on Tuesday.

World predictions for 2017 have revealed the fate of the United States, European Union, China, Russia and Middle East among other regions.

Publicly funded RAAF jets cost Australian taxpayers a $600,000 bill from July to December 2015 for picking up and dropping off federal politicians.

Woolworths has developed a portal called Supplier Connect that gives suppliers access to the retailer's record of customer data.

Experts fear of a possible $5 trillion meltdown for Australia if global trade flows are disrupted due to the South China sea dispute.

Woolworths buying director Steve Donohue has said that the 1c discount on its $45 plum pudding was a computer glitch.

Flight Centre is facing the prospect of paying a fine of $11 million when it loses a High Court battle with ACCC. The company had received the same punishment in 2013 but was turned down on its appeal to the Federal Court. ACCC appealed against the verdict and has now gained favourable judgement.

NAB will increase the variable interest rates for home loans from Monday.

Shortage of gas is threatening the existence of Australia's largest wool manufacturer, Victoria Wool Processor. The company was unable to acquire a natural gas dealer.

Coles managing director John Durkan challenged other directors of the company to buy a week's worth of groceries for $150.

HubSpot and Survey Monkey’s Asia Pacific Content Marketing Report has revealed that 22 percent Australian marketers perceived that content marketing is the single most effective tactic when it comes to driving sales and leads in 2016.

Sydney and Melbourne CBD are good places to rent an affordable apartment as the cities show a large decline in the apartment prices.

Rethink Success, a National Australia Bank whitepaper, revealed that 57 percent of Australians consider happiness as the basis for success in life. It was followed by having strong relationships, feeling fit and healthy, being a good person, having a good marriage, having good mental health and being control in own's life. More than 2000 people participated in the survey between ages 16 and 70.

China is Australia's biggest wine market today as it overthrows the United States. According to Wine Australia, the demand increases more than 50 percent to $474 million for the past 12 months. The US market ranks second with $448 million, while UK ranks third with $361 million.

The United Kingdom’s Brexit can bring new opportunities for Australians, according to Alexander Downer, Australia’s high commissioner to the UK. He said the UK’s exit from the European Union shouldn’t affect Australia’s chances of entering trade deals with the UK.

As the EU referendum comes to a close, the Australian market is preparing for a possible Brexit (Britain Exit from the European Union) win, which would have implications in the local market. Many Australian stock investors are waiting for the official outcome to arrive before buying or selling stocks.

Scott Morrison presented his first budget plan as treasurer on Tuesday, outlining the need for a more diverse economy and announcing a ten-year enterprise plan to support jobs and growths.