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Aug 21, 2011

The Australian Business Briefing: BlueScope sinks 11pc to record low

BlueScope sinks 11pc to record low
BlueScope Steel CEO Paul O'Malley Matt Chambers THE chief of BlueScope Steel says the restructuring of Australia’s biggest steelmaker, including 1000 job cuts, is necessary.
Profits lift shares 1.4pc
Shares, stocks, trader, IG Markets trader AUSTRALIAN shares rose 1.4 per cent by early afternoon on the back of positive profit results and takeover announcements.
Shell, PetroChina bid for Bow
Coal-seam gas David Winning SHARES in Bow Energy soared by 60 per cent after Shell and PetroChina bid $520.5 million for the coal seam gas producer.
Amcor rallies on strong result
Amcor CEO Ken MacKenzie Tracy Lee AMCOR shares rose sharply today after the packaging giant boosted its annual dividend and unveiled a $150m share buyback.
Caltex puts refineries on review
Caltex Andrew Burrell CALTEX Australia is reviewing its two petroleum refineries in Australia after announcing a 24 per cent fall in first-half profit.
Qantas-AA agreement to get OK
qantas Cynthia Koons THE ACCC's draft ruling has approved a business agreement between Qantas Airways and American Airlines.
History against us: RBA member
Graham Kraehe David Fickling AUSTRALIA'S economy faces a downturn once commodity prices fall, said an RBA board member who is also BlueScope's chairman.
100,000 jobs on the line, says Merrill
US jobless Michael Bennet UP to 100,000 Australian jobs could soon be slashed, says Merrill Lynch, forcing the RBA to cut rates by November at the latest.
Financial Markets
Profits lift shares 1.4pc
Shares, stocks, trader, IG Markets trader AUSTRALIAN shares rose 1.4 per cent by early afternoon on the back of positive profit results and takeover announcements.
100,000 jobs on the line, says Merrill
Stocks fall on banks, mines
Financial Markets Coverage
Mining & Energy
Labor wants miners to fund manufacturing
Mining Ben Packham THE Labor Left wants the nation's billionaire mining barons to fund manufacturing to stave off job losses and ensure skills are developed.
Caltex puts refineries on review
Shell, PetroChina bid for Bow
More Mining & Energy

Smartcompany News & Analysis: ] Meet the billionaire tipped to be the next Warren Buffett, MYOB sold in $1.2bn deal, Melbourne builder collapses, Colorado Group to be reborn

smart company logo image

Today on SmartCompany we examine five strategy secrets from Super Retail Group, one of the only retailers in Australia to see its share price actually rise in the last 12 months. We also look at the sale of MYOB to another private equity group, examine the plan to resurrect Colorado Group and look at the collapse of a Melbourne construction group. Plus in Entrepreneur Watch, James Thomson looks at what the huge steel sector job cuts say about the state of our economy.

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

Rich Secrets
Warren Buffett’s heir apparent?
We're all looking for the second coming of Warren Buffett, but few of us are brave enough to declare we might have found the new messiah. BY JAMES THOMSON.
Warren Buffett’s heir apparent?

Adjusting property value growth for inflation
With property values falling across most parts of the country and inflation climbing we look at the impact of inflation on property values and how the capital city property markets are performing in inflation adjusted terms. BY TIM LAWLESS.

Aunty B
What is the one thing I can do to really turbo charge the business?
You want to turbo-charge your business? Revitalise your board. Haven't got one? Then get one now.
Aunty B

Sue Barrett
A good sales proposal demonstrates real value; a quote just offers a price.
Sue Barrett

Behavioural Economics
Bri Williams
Customer service is undoubtedly one of the trickiest areas of business management.
Bri Williams

Retail trends
Kevin Moore
Tales of how we react to the recession are very telling of how true it is that really engaged shoppers will always shop.
Kevin Moore

Entrepreneur Watch
James Thomson
BlueScope’s savage job costs underline how tough it is going to be for some sectors to adjust to the strong Australian dollar.
James Thomson

Ping Newsletter Alcatel scandal ties up NBN resources

Ping Newsletter
Bain pips Sage to buy MYOB for $1.2bn
US private equity outfit Bain Capital has emerged as the last-minute buyer of MYOB, yesterday securing it for $1.2 billion.
Alcatel scandal ties up NBN resources
THE employment of NBN executives at Alcatel was the subject of more than 3700 emails exchanged between NBN Co, its lawyers and the government.
US buyers snap up discounted TouchPad
HEWLETT-PACKARD'S defunct TouchPad tablet has virtually sold out in the United States after its price was slahed from $US499 to $US99.
Digital key to print survival
JUST how much is a newspaper business worth?
Anti-litter group's bins on Facebook
THE environmental group has incorporated geo-marketing and location-based software into its strategy.
HP's TouchPad tablet killed in Australia
HEWLETT-PACKARD'S much anticipated TouchPad tablet computer has been withdrawn from sale in Australia just four days after its retail launch.

Are We Headed for Another Recession? by Jill Schlesinger

Jill Schlesinger gives us an excellent article,  it is a  must  you cannot allow to miss its reading:

Are We Headed for Another Recession? 

Is this the beginning of another recession? The truth is: It doesn’t matter. No matter what we call it, the economy stinks right now.
I know we haven’t qualified as being in a recession based on the two ways that it’s usually defined: (1) the rule of thumb method, which is two consecutive quarters of contraction in GDP or (2) the official way-the National Bureau of Economic Research (NBER) has not declared that the economy has experienced “a significant decline in activity.”

NYT: Breaking News: Qaddafi Son Arrested, Rebel Council Members Say

The New York Times
Sunday, August 21, 2011 -- 6:12 PM EDT
The rebel leadership in Libya announced that insurgents had captured Seif al-Islam el-Qaddafi, Col. Muammar el-Qaddafi’s son and heir apparent.

While that could not be confirmed, the rebels raced through part of the capital city with apparent ease, and NATO and American official made clear that they expected that control of Tripoli, which had been the final stronghold of the longtime Libyan leader, was now in doubt.

Read More:

The Australian Capital Circle: Jobs losses, protests, court cases and scandal

Capital Circle Newsletter
Jobs losses, protests, court cases and scandal
As parliament resumes, Labor faces a day of protests in Canberra, manufacturing job cuts, a High Court challenge and an ongoing scandal.

Julia Gillard will launch the Australian Multicultural Council with Senator Kate Lundy today at about 11.30am. Cabinet will meet this evening. Ms Gillard will not address the Convoy of No Confidence rally, but she is expected to hold a press conference today.
Tony Abbott is expected to address the rally today in Canberra. He'll talk about the carbon tax, manufacturing job losses, the Craig Thomson scandal and the asylum seeker swap deal.
***Email Capital Circle. Click here to subscribe***
Pressure on the Government is coming from all sides today. The Convoy of No Confidence , a collection of trucks, cars and semi-trailers is rolling into Canberra to protest at Parliament House (report), creating traffic chaos in the capital (report) (Convoy route). The Coalition is stepping up its push for an investigation into beseiged Labor MP Craig Thomson, calling for him to be stood down as chair of the House economics committee (report).
The move comes as the Daily Telegraph reports: MORE allegations have come to light against embattled Labor MP Craig Thomson, with court documents claiming he breached electoral laws by spending nearly $40,000 on his union credit card for his 2007 election campaign.
Shadow Attorney-General George Brandis will write to the NSW police today, calling for t
Peter Brent
Peter Brent
Thommo in Dobell
Labor MP Craig Thomson, one of the class of 2007, is in trouble. His seat of Dobell on the NSW central coast, north…
More Peter Brent

The Washington PostToday's Headlines: Today's Highlights / Politics / Style / Sports / World / Live Discussions / Technology / Business

The Washington Post


Perry criticizes government, but Texas jobs benefit from it
The governor is dismissive of government, even as it has played a central role in his state’s impressive job-creation record.
(By Michael A. Fletcher)

Libyan rebels seize Zawiyah
The rebel army advances set off a wave of speculation that Gaddafi’s rule was crumbling, and the Libyan leader gave an address apparently by phone.
(By Thomas Erdbrink and Leila Fadel)

At home, war in small doses
After ten years of fighting, the wars in Afghanistan and Iraq surface on the home front in fleeting, sentimental and sanitized glimpses.
(By Greg Jaffe)

Crimes against volunteers vex Peace Corps
TheThe Peace Corps has been criticized over changes it made in the way it handles violent crimes against volunteers.
(By Lisa Rein)

The man behind the King memorial
Harry E. Johnson Sr., who has steered Washington’s new Martin Luther King Jr. memorial for nine years, prepares to raise the curtain.
(By Michael E. Ruane)

Crimes against volunteers vex Peace Corps
TheThe Peace Corps has been criticized over changes it made in the way it handles violent crimes against volunteers.
( by Lisa Rein , The Washington Post)

Building political clout
A half-million new residents crowded into Northern Virginia in the last decade, creating a new state Senate district.
( by Anita Kumar This is part of a series on the Aug. 23 General Assembly primary elections in Northern Virginia. The series will appear in August. , The Washington Post)

Rosecroft Raceway to reopen
The once-storied horse track in Prince George’s County will open its doors again on Thursday.
( by John Wagner , The Washington Post)

Gov. O’Malley leaves door open to tax increases
Maryland Gov. Martin O’Malley said Saturday that tax increases could be necessary next year because the state faces a $1 billion budget shortfall and great uncertainty about how Congress’s action to reduce the federal debt will affect the state.
( by John Wagner , The Washington Post)

65 environmentalist protesters arrested at White House
WASHINGTON — Dozens of environmentalist protesters have been arrested outside the White House on the first day of a planned two-week protest over a proposed oil pipeline from Canada to the U.S. Gulf Coast.
( Associated Press Associated Press , AP)

The puppy is running amok
He is housebroken but is chewing everything in sight. It’s tough to find time to give him more exercise. What’s to be done?
(, The Washington Post)

Miss Manners: Respect and homage are two different things
A reader questions Miss Manners about a recent column.
(, Universal Press)

Ask Amy: Widower ready to socialize, but how?
He’s nowhere near ready to date, but would love to be part of social outings.
(, Tribune Media Service)

A walk on the high side in Vietnam
Closed to tourists until the 1990s, nation’s rural highlands feature dramatic peaks, rivers and gorges.
( by Susan Harb Special to The Washington Post , The Washington Post)

Pop CD review: Active Child
The full-length debut of Pat Grossi’s one-man project, Active Child, draws from everything and everywhere.
(, The Washington Post)

Get ready, world, Wieber is on her way after winning 1st US gym title in a rout
ST. PAUL, Minn. — The rest of the world should consider this a warning from Jordyn Wieber.
( Associated Press Associated Press , AP)

Jones hits go-ahead RBI single in 12th, but Gregg blows lead in Orioles' 9-8 loss to Angels
ANAHEIM, Calif. — The Baltimore Orioles’ latest defeat in a season full of embarrassing ones will be remembered most for consecutive plays third baseman Josh Bell wasn’t able to execute with his team leading by two runs in the 12th inning, and a desperation bunt in the 11th by — of all people — slugger Mark Reynolds.
( Associated Press Associated Press , AP)

Donovan McNabb looks sharp in limited action; Vikings hold off Seahawks 20-7
SEATTLE — Donovan McNabb only needed one good drive to see progress from his first preseason start with Minnesota.
( Associated Press Associated Press , AP)

Robbie Keane scores in his dynamic debut in the LA Galaxy's 2-0 win over San Jose Earthquakes
CARSON, Calif. — Although Robbie Keane has been celebrating his goals the same way for 14 years, his trademark cartwheel-somersault is new on this continent.
( Associated Press Associated Press , AP)

Gregg, O’s let one slip away
Bobby Abreu hits a bases-loaded sacrifice fly to cap a three-run 12th inning and give Los Angeles a victory.
( Associated Press Associated Press , AP)

Pope urges pilgrims to spread the faith as youth festival ends; storm damage complicates Mass
MADRID — Pope Benedict XVI urged more than a million young people to become missionaries for the faith Sunday, giving them words of encouragement as he concluded the church’s youth festival.
( Associated Press Associated Press , AP)

Militant attacks kill 2 soldiers, wound over a dozen in northwest Pakistan
PESHAWAR, Pakistan — Militants carried out a series of attacks against soldiers in Pakistan’s rugged tribal region along the Afghan border Sunday, killing two troops and wounding more than a dozen others, intelligence officials said.
( Associated Press Associated Press , AP)

Assad to comment on U.S. demands he step down
BEIRUT — Syria’s President Bashar Assad will comment on U.S. and European demands that he step down and sanctions in an interview that will be broadcast Sunday on state television.
( Associated Press Associated Press , AP)

Japanese leader's public approval crumbles ahead of likely resignation
TOKYO — A new poll shows that Japanese Prime Minister Naoto Kan’s public approval rating has fallen to the lowest level since he took office last year.
( Associated Press Associated Press , AP)

Officials say 2 suicide blasts kill 11 anti-al-Qaida tribesmen in Yemen's turbulent south
SANAA, Yemen — Yemeni tribal and security officials say suicide bombers have killed 11 anti-al-Qaida tribesmen in the country’s south.
( Associated Press Associated Press , AP)

Ask Boswell
Sports Columnist Tom Boswell will take your questions about baseball, the Redskins, the Wizards and more.
(, vForum)

ComPost Live with Alexandra Petri
The Compost, written by Alexandra Petri, offers a lighter take on the news and political in(s)anity of the day.
(, vForum)

Opinion Focus with Eugene Robinson
Washington Post columnist Eugene Robinson discusses his recent columns and the latest news in a live Q&A.
(, vForum)

Debt Ceiling drama: Why Jonathan Capehart thinks your voice needs to be heard
In his Post-Partisan blog post today, Opinion writer Jonathan Capehart said that "Folks should be marching on the Capitol" in protest of the way the debt issue is being handled. Do you agree?
(, vForum)

Chatological Humor: Monthly with Moron
Gene Weingarten takes polls and chats about his recent columns.
(, vForum)

The Daily Show On How Chain Bookstores Can Compete With The Internet

( by ,

Review: Energizer Dual-Zone Inductive Charging Pad

( by ,

Microsoft: Windows Phone Mango Is Done, Manufacturers Just Need To Release It

( by ,

HP Issues TouchPad Liquidation Order – Get Yours Now For $100

( by ,

Don’t Follow The Crowd

( by ,

Volkswagen to launch new small car, the up!, in Europe in December
BERLIN — Volkswagen AG says it will launch a new small car — the up! — in Europe in December.
( Associated Press Associated Press , AP)

Laid off workers, aging baby boomers push Social Security disability to verge of insolvency
WASHINGTON — Laid-off workers and aging baby boomers are flooding Social Security’s disability program with benefit claims, pushing the financially strapped system toward the brink of insolvency.
( Associated Press Associated Press , AP)

Biden: China and U.S. share global responsibilities
In a speech to Chinese students, he stresses countries’ mutual political and economic concerns.
( Associated Press Associated Press , AP)

The Daily Show On How Chain Bookstores Can Compete With The Internet

( by ,

Review: Energizer Dual-Zone Inductive Charging Pad

( by ,