|James Thomson |
Global markets are just waking up to the fact this recovery will be long.
Aug 2, 2011
Smartcompany News: Revealed: The value of Australia’s internet economy, 5 lessons from Vodafone’s customer exodus, Manufacturer collapses, Dunk Island faces closure
Today on SmartCompany we extract the customer service and management lessons from Vodafone’s horrible first half, where they lost $78 million and 375,000 customers. We also look at the struggle to get iconic Queensland holiday spot Dunk Island back on its feet and examine the collapse of a Victorian manufacturer. Plus in Entrepreneur Watch, James Thomson looks through the economic gloom at what smart companies are doing to stay upbeat.
|Internet's $50bn GDP boost|
|THE internet is fast growing into one of the nation's strongest economic contributors.|
|Internet set to click-start economy|
|THE rise of the internet in the local economy could be the answer to the nation's worrying productivity growth rate.|
|Hacked firms could be held responsible|
|THE federal government is considering changing the law so corporate victims of computer hacking can be sued over privacy breaches.|
|Computer giants keep Tabs on court|
|AUSTRALIA is at the centre of an international court battle between computing giants Apple and Samsung|
|Vodafone fails to ring up profit|
|Vodafone Hutchison Australia will be unable to lift its profit in the next six months to offset losses from the first half.|
|Samsung goes ahead with Galaxy launch|
|SAMSUNG will launch its Galaxy 10.1 tablet locally despite a Federal Court order prohibiting the sale of a variant in Australia.|
The New York Times
Tuesday, August 2, 2011
After dealing with the debt crisis, Senate negotiators tried and failed Tuesday to end a stalemate over temporary funding for the Federal Aviation Administration, leaving 4,000 F.A.A. employees out of work and relying on airport safety inspectors to continue working without pay.
The partial F.A.A. shutdown, which began July 23 and is likely to continue at least through Labor Day, has also idled tens of thousands of construction workers on airport projects around the country. Dozens of airport inspectors have been asked by the F.A.A. to work without pay and to charge their government travel expenses to their personal credit cards to keep airports operating safely.
|New NBN debate as Labor looks for wins|
|The political focus shifts to broadband today as Labor lauds its achievements in a "year of decision and delivery".|
Julia Gillard is in Melbourne where she'll launch the memoirs of former Victorian police commissioner Christine Nixon at 10am. She has several events later in the day in the electorate of Deakin, held by Labor's Mike Symon.
Tony Abbott is on holidays in Europe. Acting Opposition Leader Julie Bishop is in Sydney where she was interviewed by ABC 24 Breakfast. She'll do some radio interviews and travel to Perth for a function tonight.
Broadband stoush: Opposition communications spokesman Malcolm Turnbull will give further details on the opposition's broadband policy at the National Press Club today. He told the ABC's AM program this morning that the Coalition wouldn't tear up Labor's network if it won office. "All of the NBN infrastructure will remain in place and we will ensure that its value is maximised," he said. Communications Minister Stepehn Conroy will attend a telecommunications forum in Sydney this morning. He told AM that arguments about NBN take-up rates were spurious, as all households would have to be connected if they wanted fixed line phones.
Delivery: Hot on the heels of yesterday's health deal, ALP secretary George Wright has released a new glossy brochure titled "Making a Difference". It lists Labor's key achievements in office and outlines its "historic purpose". "We set our alarm clocks early because we know that to be in government is a great honour and privilege," Julia Gillard says in the foreword. Labor wants voters to know it's doing things, spinning 2011 as the "year of decision and delivery". There's 21 pictures of the PM in just 24 pages, but only one of Kevin Rudd and two of Wayne Swan.
Friends: We were wondering how Julia Gillard came to be launching Christine Nixon's memoirs, given the rancour they've sparked in Victoria. Someone reminded us that her chief-of-staff Ben Hubbard was the former chief executive of the state's Bushfire Reconstruction & Recovery Authority, which Ms Nixon chaired. But
By Sue Chang
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service late Tuesday confirmed the U.S.'s triple-A rating following the increase in its debt ceiling. However, the rating agency assigned a negative outlook on the rating. "The initial increase of the debt limit by $900 billion and the commitment to raise it by a further $1.2 trillion to $1.5 trillion by year-end have virtually eliminated the risk of such a default, prompting the confirmation of the rating at Aaa," Moody's said in a statement. The ratings agency also said the debt deal is the first step in long-term fiscal consolidation that is the key in maintaining the sovereign rating at triple-A. Moody's also warned that the negative outlook indicates that there is a risk of a downgrade if the U.S. fiscal environment weakens further and its economic outlook deteriorates significantly.
|Coles bulks up for liquor war|
|Blair Speedy SUPERMARKET giant Coles is planning a massive expansion in the liquor market as it escalates its fight with rival Woolworths.|
|ASIC puts accountants on notice|
|Richard Gluyas ACCOUNTANTS are in ASIC's sights as the insider-trading crackdown widens to include the security of information held by advisory firms.|
|Inflation outlook a concern for RBA|
|Scott Murdoch THE RBA could raise official interest rates in the next few months as the threat of inflation continues to worry the central bank.|
|Internet set to click-start economy|
|Mitchell Bingemann THE rise of the internet in the local economy could be the answer to the nation's worrying productivity growth rate.|
|Guru tips agricultural commodities|
|Matt Chambers RENOWNED commodities bull Jim Rogers says he sees higher returns from agriculture than other commodities.|
|Bruised HSBC warns on outlook|
|Richard Gluyas A sharp fall in profit is part of a much bigger economic picture for HSBC.|
|High dollar drive students away|
|Teresa Ooi FOREIGN students are abandoning Australia and flocking to Canada amid growing uncertainty over visas and the high Australian dollar.|
|Fitch worries over US outlook|
|Drew FitzGerald FITCH Ratings cautioned today the US government still had more work to do to maintain its pristine credit rating.|
|Wall St tumbles for eighth day|
|Gold price strikes record|
|Financial Markets Coverage|
|Mining & Energy|
|Gold price strikes record|
|Matt Day GOLD rose to record highs today as concerns about a global slowdown in global and Europe's debt crisis spurred demand.|
|Plan for China to invest, not buy farm|
|Panoramic broadens its horizon|
|More Mining & Energy|
The International Trade Commission agreed to investigate Apple's complaint that mobile phones and tablets made by rival Samsung violate its technology intellectual property. The intensifying patent dispute threatens to strain a lucrative supply relationship: Apple in 2010 was Samsung's second-largest customer, accounting for $5.7 billion of sales tied mainly to semiconductors, according to the Asian consumer electronics company's annual report.
Google faces a total of nine antitrust complaints which EU regulators are now investigating, two sources said. Up to now, The European Commission has only confirmed four cases against Google. The increased number of complaints underscores Google's dominant position but does not necessarily mean bad news for the company, said Simon Holmes, head of EU and competition law at law firm SJ Berwin.
"Google's strong position means there are lots of interests involved. But there is nothing wrong per se in having a strong position," he said.
Broadband speeds on average are within 80 percent of what major Internet service providers advertise, a big improvement from two years ago, according to an FCC study. I suggest that the study, while attempting to arm consumers with a comparison tool in order to make more informed choices, masks regional disparities in broadband speeds that were brought to light last week.
For an extra $25 per year, fans of Electronic Arts sports titles will be able to download video games three days before they hit stores, a move that should boost EA's digital sales. EA's new program called "Season Ticket" will let consumers get access to five sports games--its soccer, golf, hockey, pro-football and college football titles. Users will be able to download the games over the Internet on Microsoft's Xbox and Sony Corp PlayStation systems three days before they are out in stores.
Russia's interior minister called for limits on the Internet to prevent a slide in traditional cultural values among young people, raising fears of controls over the vibrant Russian-language Web. Rashid Nurgaliyev, who did not indicate which sites he felt should be curbed, said that Russia's youth needed looking after to prevent young people from being corrupted by "lopsided" ideas, especially in music, that may undermine traditional values.