Shreyashi Chakraborty

2 months ago | ibtimes.com.au | Shreyashi Chakraborty

Australia's major banks were predicting that the Reserve Bank of Australia (RBA) will slash the official interest rate from its current level of 4.35% during its Feb. 18 meeting. NAB said that the confirmation of weaker-than-forecast price growth and a softer outlook for housing costs indicates a significant shift in economic conditions are the triggers behind the RBA to lower interest rates, SBS reported.

2 months ago | ibtimes.com.au | Shreyashi Chakraborty

Australia's spirits industry is urging the government to eliminate outdated tax increases that will leave an adverse impact on both producers and consumers, as the sector continues to grapple with the cost-of-living crisis. The call came as the government was set to implement a hike in the alcohol excise tax to AU$104.31 per liter of alcohol, up from AU$103.89 -- marking the 84th increase since its introduction in 1983. The hike will come into effect on Monday, News.com.au reported.

2 months ago | ibtimes.com | Shreyashi Chakraborty

Retailer Costco Wholesale has announced it will hike hourly pay for most fixed-wage U.S. store workers to more than $30. Hourly pay for top-tier employees will be increased by the company in a phased approach over the upcoming three years with the pay rising by $1 to $30.20 in the first year followed by an additional $1 each in the subsequent two years, Reuters reported, citing a memo sent to the employees.

2 months ago | ibtimes.com.au | Shreyashi Chakraborty

Australian social analysts predict that Generation Alpha -- those born between 2010 and 2024 -- will soon enter the workforce. While this may seem surprising, experts argue that these "new digital natives" have advanced intelligence, having mastered everyday technology even before starting their careers. The social analysts from McCrindle found that the Gen Alpha will be a more materially endowed and tech-savvy generation, with a longer life expectancy than the previous generations.

2 months ago | ibtimes.com | Shreyashi Chakraborty

A recent report indicates that major companies are hesitant to hire Gen Z employees due to concerns about their preparedness for the realities of the workforce. Most companies are skeptical about GenZ's potential due to their unsatisfactory graduation status, while 6 in 10 companies have records of firing fresh college grads they hired that same year, Fortune reported, citing a survey from Intelligent.com. There are a multitude of reasons why hiring GenZ looks like biting a bullet.