Venture Funds Face Tangle of Red Tape

The venture capital industry has struck a regulatory barrier in its plans to attract overseas investment into Australian funds, prompting a political tussle that could determine whether Australian start-ups gain access to fresh capital.

Interest Rate Rises

Interest rates in Australia have been raised for the fifth time in nine months. The new rate was set at 6.25% by the Reserve Bank of Australia amidst fears of runaway inflation.

Scottish Pacific Business Finance Bought

St. George Bank has agreed to acquire the Scottish Pacific Business Finance Group (SPBF) for 42 million Australian dollares, subject to formal Board approvals.