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Aug 3, 2011

The Australian Business Briefing Leighton trims loss to $ 408




Leighton trims loss to $408m
Leighton HQ Ray Brindal LEIGHTON has trimmed guidance for full-year 2011 and confirmed an expected big swing to profit this fiscal year.
Japan moves to curb yen
Yen Takashi Mochizuki JAPAN has intervened unilaterally in the foreign exchange market to counter "one-sided" and "excessive" rises in the yen.
Transurban sees lift in 2012
aus bus pix transurban Damon Kitney TOLL road operator Transurban has forecast improved distributions in 2012 after almost doubling its profit.
Kruger takes top job at Toll
Brian Kruger Gavin Lower TOLL Holdings has appointed chief financial officer Brian Kruger managing director, replacing the retiring Paul Little.
Ex-B&B stars in aviation deal
John Durie John Durie BABCOCK & Brown and Allco Finance's ways are back in the game with Global Aviation's deal with US-based Fly Leasing.
Two Australians die in mine chopper crash
Indon crash UPDATED Joe Kelly TWO Australians are among nine people dead after a helicopter crashed while flying to a mine in Indonesia operated by the Melbourne-based company Newcrest Mining.
ERA slips 6pc on Ranger
Ranger uranium SHARES in Energy Resources slid 6 per cent after it said it swung to a $121.8 million loss on the Ranger Mine suspension.
BHP target posts strong earnings
Shale Nathalie Tadena BHP Billiton target Petrohawk Energy has posted a rise in second-quarter profit on growth in production and revenue.
Financial Markets
Stocks edge up on Wall St run
Aus Bus Pix ASX sharemarket stockmarket shares stocks AUSTRALIAN shares rose slightly by early afternoon, buoyed by a positive session on Wall Street.
Market wrong on Italy: Berlusconi
Oil slides to five-week low
Financial Markets Coverage
Mining & Energy
ERA slips 6pc on Ranger
Ranger uranium SHARES in Energy Resources slid 6 per cent after it said it swung to a $121.8 million loss on the Ranger Mine suspension.
Two Australians die in mine chopper crash
Search for Australians in crashed chopper
More Mining & Energy

Don’t fall for Wednesday’s token advance Commentary: One day up does not a new trend make: MarketWatch | Marder Analysis on Markets

By Kevin Marder 
LOS ANGELES (MarketWatch) — Shares finally put in a token advance Wednesday, capping yet another unidirectional, risk-off move that had begun eight sessions ago.
Volume on both the New York Stock Exchange and the Nasdaq Composite COMP +0.89%  was its heaviest in several weeks, lending an air of authenticity to the reversal. Ditto for the way price went out near the session high.
Charts created using TradeStation . ©TradeStation Technologies, 2001-2011. All rights reserved.
In technical terms, this was a fairly classic reversal. Volatility as measured by the five-day average range had reached a level last seen in the weeks following May 2010’s flash crash and also in December 2008. Higher volatility tends to correlate with a change in trend.
However, there was nothing unexpected about it after such a concerted downdraft. The expected is expected. It is the unexpected to which is paid close attention
 
Peter Thiel talks tech bubble, IPOs Peter Thiel, the first outside Facebook investor and PayPal co-founder talks about social investing, the timing of a Facebook IPO, Google Plus, and the next big thing
It is also just one day up, and therefore changes nothing in terms of the probability of a successful campaign of intermediate-term speculation.
As for the backdrop: Can an economy that has not shown much job growth despite the biggest monetary and fiscal stimulus ever attempted, actually accelerate in the second half? This is believed to be the bond market’s message, where yields have tanked since last week.
Either 1) the bond market has the economy wrong, 2) the comedown in yields has been more about global participants seeking a safe haven from the European debt crisis, or 3) the bond market has it correct, and the recent spate of weak economic data is a harbinger of things to come. 

It is to be noted that a bull market will end when the news is good, the sun is shining, and there are few clouds in the sky. Thus, word that approximately 72% of recent earnings reports have exceeded the Street’s consensus estimate, above the average of 62%, means little here.
Of more import is market momentum, one of the best leading indicators of price — if not the best. The breadth of an advance is a momentum measure. It is long-term in nature, and not especially useful for an intermediate-term speculator. It is imprecise, sometimes peaking many months ahead of the ultimate bull market top in the averages.
But for those who try to understand where we are in a bull — a long-term animal — it is nevertheless of value. Historically, breadth has peaked some months ahead of a bull market top. Once the breadth of a bull has peaked, breadth generally does not reverse its decline until well into the next bear market.
The below chart shows the market making more 52-week lows on the current decline than on the March and June declines.
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Smartcompany News & Analysis: Serviced office giants fight over misleading trading claims, Kmart boss Guy Russo on customer service, Could the ATO decide if your firm is viable?

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Today on SmartCompany we look at a nasty court battle brewing between serviced office providers Regus and Servcorp over an online directory, extract the lessons from the case of a teacher who received $17,000 in compensation after being sacked for swearing and examine the Opposition’s alternative NBN plan. Plus in Entrepreneur Watch, James Thomson fires up on the stupidest tax in the world – payroll tax.

For all this and more, head to our
home page.

Lunch with an Entrepreneur
Tackling the tough times in retail
You think times are tough? Kmart's managing director Guy Russo has seen tougher, particularly when the GST was introduced. BY MADELEINE HEFFERNAN.
Guy Russo

Tax Update
Why the ATO could decide if your business is viable
The ATO's new assessment tool will test the financial viability of businesses - and their chances of survival. BY TERRY HAYES.
Tax

Aunty B
I want to be the sole breadwinner. How do I tell my husband?
Gee, you sound like a throwback from the 50s. I hope you show more tact with your staff and customers.
Aunty B

Facebook Know-how
Lara Solomon
How Facebook decides which posts appear in top news is down to their Edgerank formula. Here's how to use it to your advantage.
Lara Solomon

IT Systems
David Markus
What do IT disasters and natural disasters have in common? Put simply – the destruction of infrastructure.
David Markus

Business Tech Talk
Paul Wallbank
Today’s reports of an “unprecedented cyber-espionage campaign” thought to have originated in China are a reminder of how insecure most of our computer networks are.
Paul Wallbank

Internet secrets
Craig Reardon
If your website meets these simple criteria, you will be reaping the benefits.
Craig Reardon

Entrepreneur Watch
James Thomson
The energy that governments are putting into payroll crackdowns should be put into finding ways to dump the stupid tax.
James Thomson