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Debt business booming as households struggle with bills

Credit Corp Group, which buys bad debts at a discount and collects them, is on track for another record result this year. The listed business posted a record $105.5 million net profit in 2025/26 and is targeting between $112 million and $120 million this financial year. Chief executive Thomas Beregi told shareholders the purchase of one of HSBC's run-off credit card books was a key driver. Its consumer lending arms grew almost a fifth in the September quarter, led by its Wallet Wizard loans, which carry an annual interest rate of 47.8 per cent.

Michael West Media· A while agoBusiness

Streaming giant Netflix to cut six per cent of workers

Netflix will reduce its workforce by six per cent, affecting around 1000 employees, as part of broader organisational restructuring. The streaming service's co-CEOs, Greg Peters and Ted Sarandos, revealed the cuts in an internal memo, targeting product, tech, legal and HR teams. While maintaining strong business performance, the company aims to prioritise resources for future growth. Despite recent profit increases, Netflix's third-quarter forecast fell short of market expectations. The layoffs represent the largest workforce reduction in years for the California-based firm.

Parra News· A while agoBusiness

Pick a number, make a change

Many businesses track too many numbers and focus on none of them, the column argues. A Critical Number is the single figure that could seriously harm a business if ignored. It should be chosen for the next 90 days, made visible to staff, and linked to drivers such as pricing, productivity and waste. The column says one focused measure creates more action than twenty key performance indicators.

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Debt business booming as households struggle with bills

Streaming giant Netflix to cut six per cent of workers

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Debt business booming as households struggle with bills

Streaming giant Netflix to cut six per cent of workers

Pick a number, make a change