VECCI congratulates the Victorian Government on the launch today of Victoria’s first Aboriginal Economic Strategy.

“It is important that this strategy provides a framework to support the future growth and development of Victoria’s Aboriginal businesses,” says VECCI Chief Executive Mark Stone.

“The effective linking of education, employment opportunities, business enterprise development and investment will be vital to ensuring Victoria’s Aboriginal-owned businesses reach their full potential.”

VECCI provides strong support for Victoria’s Aboriginal business community through its Aboriginal Business Advisor Program (ABAP), which is supported by the Victorian Government.

The ABAP provides a range of mobile and tailored support for operators or those wanting to start an Aboriginal-owned business in Victoria, including business and personal coaching, business tools and information, and networking workshops and opportunities.

Further information about the program can be found at www.vecci.org.au/abap 

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THE announced closure of the Wilkie Creek thermal coal mine near Dalby is another disappointing turn in the fortunes of the export coal industry, Queensland Resources Council Chief Executive Michael Roche said today.

"The announcement is a sad blow for the region but also indicative of the challenging outlook for the thermal coal industry in particular," he said.

"It’s no secret that a number of mines in Queensland and New South Wales are walking a financial tightrope as a result of subdued global demand, inherently high production costs and a stubbornly high exchange rate.

"At some mines operations are continuing only because it is more expensive to walk away from take or pay contracts for rail and port services.

"Cost cutting is the only the mechanism available to coal companies to ride out the downturn that we estimate has cost more than 8000 positions in Queensland since mid-2012," he said.

www.qrc.org.au

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PEAK retail industry body the Australian Retailers Association (ARA) said retailers are working around the clock to make the most of the festive season – with $42.2 billion in pre-Christmas sales expected to go through retail tills from 14 November until 25 December, representing a 3.5 percent gain on sales during the same period in 2012 ($40.7 billion).
 
ARA Executive Director Russell Zimmerman said the 3.5 percent growth (based on 2013 Christmas sales predictions prepared by ARA research partner Roy Morgan Research) is a positive sign for the retail sector and an indication that shoppers have well and truly started their Christmas shopping.
 
“Anecdotally, we have had a number of reports from retailers that shoppers have started their Christmas shopping a little earlier this year, rather than leaving it until late December like previous years. Conversations with retailers have also reported large sales on specific popular products, meaning shoppers need to get in early if they want to guarantee their products of choice will still be on the shelves.
 
“Electronics and sporting retailers have especially enjoyed a jump in sales over the last week or two, with sporting and outdoor equipment, gaming consoles, iPads, mobiles and tablets tipped to be the hottest items under Australian Christmas trees this year.
 
“Both the Sony Playstation 4 and Microsoft Xbox One have now been released, and interestingly, shoppers are said to be almost twice as likely to purchase the Sony Playstation 4 over the Microsoft Xbox One.
 
“While we can expect traditional gifts such as perfumes, cosmetics, toys, games, footwear and clothing to continue to fly off the shelves and down the chimney, Australian consumers are looking for something new and exciting to keep them entertained this festive season.
 
“With the biggest online shopping day (Sunday 8 December) now behind us, retailers are looking forward to next week, as the week before Christmas remains the busiest time for pre-Christmas shopping,” Mr Zimmerman said. 
 
View the ARA Christmas infographic HERE for an overview of pre-Christmas sales data
 
Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $258 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041

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WHILE over 185,000 banking customers are preparing to take on eight banks for 'unfair' fees, one of Australia’s biggest comparison websites, finder.com.au is urging more Australians to go fee-free and switch financial institutions to find better deals.

The class action lawsuits are against the banks for allegedly charging customers excessive fees between $20 and $45 such as overdraft or over the limit fees.

Michelle Hutchison, spokesperson for finder.com.au, said the class action cases could be a game changer for Australia’s financial services industry.

“These class action lawsuits show the power of what public pressure can really do. Australians have had enough of paying collectively billions of dollars in bank fees and if these cases win, there will likely be a shake-up of all bank fees across the industry.

“In fact, last year, we collectively paid our banks over $11 billion in bank fees – over $4 billion of which was from households.

“But we can’t rely on financial institutions to charge fair fees or drop their fees altogether. The only way we will make real changes to the banking industry is if more Australians compared their financial products and switched. This will force institutions to be more competitive.”

According to finder.com.au, there are 39 credit cards with no annual fees, including two platinum cards and three gold cards.

There are also 105 home loans with no annual service fee, and 101 home loans don’t charge redraw fees.

Many transaction accounts come with no monthly service fees and fee-free transactions.

“It’s up to more Australians to take on the responsibility with their financial products by reviewing their options and comparing deals,” said Mrs Hutchison.

“It will not only force competition between banks but also will save consumers potentially thousands of dollars every year.”

www.finder.com.au

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