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Telstra expands global presence with new $350m acquisition

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Australian telco, Telstra is expanding its presence overseas

Telstra will spend $350 million to acquire GP patient management software play MedicalDirector.

MedicalDirector is a software that provides electronic health records, patient and practice management.

Telstra will absorb the software which has about 23,000 clients into its digital health software segment Telstra Health.

Telstra Health chairman Brendon Riley said the takeover would strengthen its presence overseas.

“Telstra Health has transformed substantially over the past five years and this announcement reflects its continuing maturity as a business and its importance as part of Telstra’s long-term growth strategy,”

Telstra expects the transaction to be completed by the end of September.

Just recently the telco giant made all payphones free!

Aussies can now use Telstra payphones for free to call any number locally or nationally.

The telecommunications giant made the announcement today and says the decision is aimed at helping those in crisis situations and boosting connectivity during the pandemic for people without access to a mobile.

Telstra CEO, Andrew Penn stated that the change means that everyone will have access to one of the network’s 15,000 payphones to make a free local or national call to a standard fixed line or a call to an Australian mobile.

“Telstra Payphones are now free phones for everyone to anywhere in Australia. They are an iconic and critical part of our community, and for many Australians, the availability of a payphone is a vital lifeline, especially for those who are vulnerable including the homeless, people who are isolated or someone escaping an unsafe situation.”

TELSTRA CEO ANDY PENN SAID IN A STATEMENT
Telstra CEO Andy Penn

International calls will still be charged at overseas rates

International and calls to premium and satellite numbers will still incur a cost, while Telstra Air remains free to eligible Telstra customers. Payphones will also become coinless from 1 October 2021 with Telstra Phonecards recommended for dialing international and premium numbers.

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Money

RBA cuts cash rate, easing pressure on homeowners

RBA cuts cash rate from 4.35% to 4.10%, marking first reduction since November 2020, benefiting struggling homeowners.

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RBA cuts cash rate from 4.35% to 4.10%, marking first reduction since November 2020, benefiting struggling homeowners.

In Short

The Reserve Bank of Australia has reduced the official cash rate from 4.35% to 4.10%, marking its first cut since November 2020 due to declining inflation. Homeowners are set to benefit, but experts warn the effects may take time to be felt.

Homeowners have awaited this decision more than a year, hoping for financial relief. The RBA stated that declining inflation justified this cut, indicating that it is beginning its rate-cutting cycle.

Due to falling inflation metrics, the Board expressed confidence that inflation rates are moving towards the target range of 2-3%. They noted that underlying inflation was recorded at 3.2% in the December quarter, suggesting pressures are easing faster than anticipated.

However, the Board also cautioned about potential upside risks, especially with recent strong labour market data, leading to uncertainties in economic activity and inflation outlooks.

Further cuts

Despite the rate reduction, the Board remains cautious about further cuts. They highlighted the need for careful assessment of inflation data, consumption growth, and global economic conditions before making new policy decisions.

Mortgage holders will benefit from the cut, with potential savings estimated at over $1,000 annually.

Market expectations indicated a high likelihood of this reduction, with forecasts suggesting more cuts in 2025 and early 2026.

Economic experts warn that it typically takes time for the impacts of rate cuts to fully materialise in the economy, suggesting homeowners may experience delayed benefits.

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Interest rates impact investments, housing, and economy

Interest Rate Cuts: Implications for Borrowing, Housing Prices, and Australia’s Economy Post-COVID

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“Interest Rate Cuts: Implications for Borrowing, Housing Prices, and Australia’s Economy Post-COVID”

In Short

Interest rates in the US and Australia are under scrutiny as the impact of COVID-19 fades, raising concerns about investments and borrowing capacity. Experts are debating the long-term effects of Australia’s recent rate cut on housing prices and the cost of living crisis.

This development raises questions about its implications for investments, repayments, and savings.

To discuss these issues, we have Andrew Woodward from the Investor’s Way.

The rate cut has raised concerns about its impact on Australians’ borrowing capacity and the potential for rising housing prices.

There is also speculation about how this rate cut could affect the ongoing cost of living crisis in Australia. Experts are considering the possible long-term consequences of this reduction on Australia’s economy.

Many are asking whether this signals the start of a series of rate cuts by the Reserve Bank of Australia.

It’s important to examine how this shift in Australia’s monetary policy aligns with broader global economic trends.

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Money

Hainan’s hidden paradise is transforming the global economy

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Once a quiet island, now a booming gateway—how Hainan is becoming a powerhouse of trade, innovation, and opportunity

The Big Picture unveils the incredible story behind China’s newest economic powerhouse. Host Mark Llewellyn explores a tropical island that has been transformed into a thriving hub for Australian and international businesses. As part of the Fortune Bay economic zone, this region is poised to drive China’s economy—and global growth—over the next decade. With ambitious plans in place, the opportunities for innovative and successful Australian businesses could be immense.

In this episode, discover China’s best-kept secret, where the rapidly evolving, visa-free, and largely tax-free island of Hainan is unveiled to the world for the first time. With its booming economy and vast untapped potential, Hainan presents a golden opportunity for Australian businesses looking to break into the world’s largest market. Journey through breathtaking landscapes, meet visionary leaders, and explore bold innovations shaping this emerging economic powerhouse—one poised to drive global growth for the next decade.

 

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