The UK budget deficit widened to £23.3 billion in May 2026, marking the highest May borrowing level since 2020. Rising debt interest payments, public spending and welfare costs pushed borrowing above forecasts, while public debt remained near historic highs at 95.1% of GDP.
FINANCE
Bain Capital Steps Away From oOh!media Acquisition Talks
Bain Capital has withdrawn from the bidding process for Australian outdoor advertising company oOh!media. The move leaves Pacific Equity Partners, I Squared Capital and Oaktree Capital Management in contention as acquisition discussions continue amid industry growth and improving financial performance at the ASX-listed media business.
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What Accounting Tools Do Australian SMBs Actually Use in 2026?
Australian SMBs rely on platforms like Xero, MYOB, and QuickBooks Online to meet Australian Taxation Office compliance while managing payroll, GST, and reporting. This article examines adoption trends, pricing, integrations, and regulatory requirements shaping software choices in 2026, alongside practical setup insights for sole traders, startups, and growing businesses.
Paytm Shares Fall After RBI Cancels Payments Bank Licence
RBI’s action against Paytm Payments Bank triggers sharp selloff in Paytm stock.
How to Value a Small Business in Australia
Valuing a small business in Australia involves more than just guessing a number—it requires using proven financial methods and understanding key factors that drive value. This guide breaks down common valuation approaches like EBITDA multiples, CFME, and discounted cash flow, along with real industry benchmarks for 2026. Whether you're selling, buying, or planning ahead, learn how earnings, risk, and market conditions impact your business worth. It also explains add-backs, SDE calculations, and when to seek professional valuation for accurate, reliable results.
Australia funds AUD 100M EV deal with Audi, Skoda, Cupr
The Clean Energy Finance Corporation says it has partnered with Volkswagen Financial Services in a $100 million program to provide discounted interest rates on electric cars. This week the VW Group has extended a 1% cut on interest rates to buyers of Audi, Skoda, Cupra and Volkswagen EVs which could save you just under $2,000 over the course of a standard five-year loan. This initiative will bring low-emission transport within reach of more families and more businesses, as national fuel prices continue to soar at record levels. The funding goes towards new and used EVs priced below the luxury car tax threshold
More finance News
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Dollar Rises as Tensions Push Investors to Safety
The US dollar is primed for a huge run as increasing conflict in the Middle East propels investors into safe-haven goods. The greenback has gained against major peers such as the euro and Australian dollar, with retaliation threats weighing on global energy supplies and infrastructure. And growing oil prices have limited central banks’ options and made them take a harder line on inflation, lifting bond yields up to an eight-month high. Markets are still volatile as the prospect of a prolonged regional crisis continues to cast a shadow over investor sentiment.
02
Lycra files for bankruptcy to cut $1.2 billion in debt
The Lycra Company files for bankruptcy with plans to cut debt and complete restructuring within 45 days.
03
Perpetual to Sell Wealth Management Unit to Bain Capital for $350 Million
Perpetual has agreed to sell its wealth management business to private equity firm Bain Capital. The transaction involves an upfront cash payment of $350 million. This step forms part of Perpetual’s strategy to simplify its operations and concentrate on its global asset management business. The company plans to pay back a large percentage of the proceeds from the sale to its shareholders. The deal is anticipated to close in late 2026 subject to all required regulatory clearances.