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Aug 22, 2011

The Australian Business Briefing: Foster's in $500m takeover defence



 
Foster's in $500m takeover defence
Fosters Cynthia Koons FOSTER'S will return at least $500 million to shareholders as it attempts to ward off a hostile bid from SABMiller Group.
 
BHP to hire BlueScope workers
BlueScope Andrew Burrell BHP will seek to hire BlueScope's laid off workers as Australian steelmakers slash staff rolls under a high local dollar.
 
NRL price worries ConsMedia
NRL pay tv James Chessell THE chief of Consolidated Media is worried price expectations for the next NRL broadcast rights are overheated.
 
Origin profit meets guidance
Origin Energy Ross Kelly ORIGIN Energy has reported a 15 per cent rise in underlying profit on higher revenue from its acquisition of assets in NSW.
 
Oil Search profit doubles
Oil, oil platform Ross Kelly OIL Search today posted soaring first-half profits and said PNG land-ownership issues were being addressed constructively.
 
Grimshaw to be new BoQ chief
Bank of Queensland John Durie CALEDONIA chief executive Stuart Grimshaw has been appointed to replace David Liddy as Bank of Queensland chief.
 
ConnectEast bid value 'fair'
ConnectEast Michael Bennet AN independent expert has found a consortium's $2.2 billion takeover offer for ConnectEast to be fair and reasonable.
 
China's factories pick up
China flag Eliot Gao THE preliminary HSBC China manufacturing survey rose to two-month high in August, but still showed the sector contracted.
 
Financial Markets
Fickle market gains 0.8pc
ASX THE sharemarket had extended gains by early afternoon, with Foster's climbing on a plan to return cash to shareholders.
 
Stocks lift on US Gaddafi rally
Copper weak on slowdown fears
 
Financial Markets Coverage
 
Mining & Energy
Teranga likely target: Goldman
Gold Michael Bennet PERSEUS and Teranga may be the next gold miners in corporate activity after the $600 million Adamus Resources deal.
 
Whitehaven climbs despite loss
BHP to hire BlueScope workers
 
More Mining & Energy

Asian Stocks keeps advancing: Asia Stocks | MarketWatch

 

Shares listed in Asia gain, taking back some recent losses, as markets regain some poise.

HSBC's China flash PMI hits two-month high


Yen may alter production locations: Nikkei

Smartcompany News: Will manufacturing’s misery hurt SMEs? Future-proofing your firm, No iPods, no smelly food: BHP’s etiquette crackdown, Six smart tax strategies

smart company logo image

Today on SmartCompany we take a look at how the misery in Australia’s manufacturing sector might spread to the SME sector in a special Q&A. We talk to retail leader Athlete’s Foot about why rate cuts are badly needed and speak with some of Australia’s best employers about why BHP’s new etiquette policy – no smelly food, no iPods – won’t help improve the giant’s culture. Plus in Entrepreneur Watch, James Thomson explains why SMEs need to become trend hunters.

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

Top Story
Clever ways to future-proof your business
For small businesses, not knowing what the future might hold can cost them dearly. Here are some things you should consider to help future-proof your business. BY EMILY ROSS.
Future-proof your business

Tax Update
Be tax smart – not tax stupid
Here are six no-frills ways to significantly reduce or wipe out a tax bill without incurring the tax commissioner's wrath. BY MICHAEL LAURENCE.
Tax Smart

Aunty B
Should I seek fear or respect?
There are countless studies that show the most effective leaders are those that give employees a voice, treat them with dignity and consistency and base decisions on accurate information.
Aunty B

People problems
Eve Ash
Why are we so much more tolerant of negativity? If someone is near your desk spreading negativity everywhere it will affect you.
Eve Ash

Franchise tips and trends
Jason Gehrke
Moves to introduce state franchise legislation in SA and WA, which proponents justify as necessary to reign in so-called “rogue” franchisors, are not supported by the ACCC's latest statistics.
Jason Gehrke

Retail advice
Brian Walker
A cashflow budget is the best tool for keeping a tight handle on the flow of funds into and out of your retail business.
Brian Walker

Brand
Michel Hogan
Can you rehabilitate a brand and reputation fundamentally damaged by the actions of the organisation?
Michel Hogan

Entrepreneur Watch
James Thomson
The firms best placed to deal with the structural change hitting the Australian economy are those that have moved to get ahead of it.
James Thomson

Asia stocks rise with China data on tap: Asia Markets | Marketwatch



By Virginia Harrison, MarketWatch 

SYDNEY (MarketWatch) — Asia stocks climbed on Tuesday, boosted by gains for technology stocks, ahead of data that may provide some signals about the strength of the Chinese economy.
Japan’s Nikkei Stock Average JP:NIK +0.72%   rose 0.7%, Australia’s S&P/ASX 200 index AU:XJO +1.25%  added 1.2% and South Korea’s Kospi KR:0100 +1.84%  gained 1.0%. 

 
Gold heading to $3,000? Brett Arends explains on The News Hub why he thinks Gold could soon hit $3,000 an ounce as he compares the meteoric rise in the precious metal to the bubbles in the Nasdaq and real estate. 

 he gains in Asia came after sentiment recovered somewhat in the U.S. on Monday, where stocks snapped a three-day losing streak to notch mild gains. Read more on the U.S. session.
Markets are looking ahead to Federal Reserve chairman Ben Bernanke’s speech at Jackson Hole, Wyo on Friday. 

“The chairman will reiterate the policy tools available to him and the willingness to use them if necessary. An important preliminary step will be to revise down the outlook for growth and inflation so that their forecasts are consistent with further policy easing,” strategists at BNP Paribas said. Read a preview of Bernanke’s speech 
 
In Tokyo trading, technology-sector firms were among the strongest performers, with NEC Corp. JP:6701 +1.35% up 2.0%, Fujitsu Ltd. JP:6702 +2.14%   FUJIY -0.53%  gaining 1.6% and shares in Toshiba Corp. JP:6502 +1.62%   rising 1.3% 

Shares in Samsung Electronics Co. Ltd. SSNHY 0.00%  rose 2.5%. The South Korean firm’s Samsung Mobile Display unit formed an alliance U.S. company Universal Display Corp. PANL +0.06% to develop next-generation display technology. 

Later Tuesday, HSBC is due to release the preliminary results of its survey on China manufacturing activity for August. Last month the HSBC flash purchasing managers’ index reading hit a 28-month low.
“[A weak reading] would be a severe setback since the hope was that local markets would drive global growth amid the slowdown in developed markets. A clear weakening in PMI readings to well below 50 this month would destroy the decoupling story,” the strategists at BNP Paribas said. 

Ahead of the data, resource stocks were tracking higher. Fortescue Metal Group Ltd. AU:FMG +1.61%   FSUMY -1.67%  added 1.8%, Rio Tinto Ltd. AU:RIO +1.43%   RIO -0.07%  rose 1.9% and Gloucester Coal Ltd. AU:GCL +5.23%  rose 5.1%. 

The energy sector posted strong gains, with Beach Energy Ltd. AU:BPT +3.92%   BCHEY 0.00%  up 4.2% and Santos Ltd. AU:STO +3.11%   SSLTY +4.38% rising 3.4%. 

Origin Energy Ltd. AU:ORG +3.04%  rose 3.2% after it reported a 15% rise in underlying profit as higher commodity prices helped lift revenue. 

Virginia Harrison is a MarketWatch reporter based in Sydney.

Ping Newsletter: A-G in call for talks on piracy

Ping Newsletter
A-G in call for talks on piracy
THE federal Attorney-General will meet industry stakeholders to discuss potential new copyright laws to combat online piracy.
 
Market woe points to project delays
Global economic turmoil has heightened caution in Australia, with recruiters warning that new IT projects could be deferred.
 
NSW Police in row over copyright charges
Computer forensics belongs to law enforcement agencies but a legal suit could result in NSW Police turning over its computers.
 
E-health plan 'smokescreen for ID card'
THE Gillard government's e-health record program is a smokescreen for a national identity scheme linking social welfare databases.
 
Diagnosis good: e-health boss set to go
BRAD Cable, says soon we will be able "to log in and actually see our own personal record and be able to give GPs and others access to it".
 
Westfield push for more web tenants
WESTFIELD hopes to increase the number of online retailers in its Australian virtual mall by 25 per cent in time for Christmas.
 
A swoop on discontinued HP TouchPads
Hewlett-Packard's TouchPad was being sold yesterday for just $98 each at a liquidation sale.
 
Gliders shed new light on ocean's dark depths
Australia's fleet of ocean gliders is providing invaluable long-term oceanographic measurements.
 
Juniper's boss has finger on pulse
JUNIPER Networks plans to double its workforce in Australia and New Zealand with more than 100 new hires.
 
Calling innovators across the nation
Computer scientists and developers with big ideas are invited to enter The Australian Innovation Challenge.
 
LeasePlan pilot offers global template
THE use of 15 legacy systems to deliver service to its customers spurred LeasePlan to take on a huge consolidation and transformation project.
 
ME Bank erects barriers to rogue access
HOW does an organisation prevent industrial espionage? ME Bank is determined secure itself with deterrents to information leaks.
 
From iPhone to trolley in one move
The new Woolies app is a hit, with almost 200,000 downloads in the first month.
 
Taken for a ride by Park Assist
Westfield Bondi Junction is supposedly having the previously carefree low-tech shopping experience revolutionised.
 
Featherstone leads Oceania strategy
SONY Ericsson has appointed John Featherstone as managing director for the Oceania region.
 
Recognising heroes of our tech sector
AUSTRALIANS rarely take the opportunity to blow their own trumpet. We have elevated self-deprecation to an art form.
 
HP surprises with new PC
HEWLETT-PACKARD has unveiled a new desktop computer, just days after disclosing plans to sell or spin off its PC business.
 
HP tablet 'lemon' goes for just $98
HEWLETT-PACKARD'S much heralded TouchPad tablet computer, which went on sale for $498 a week ago, was sold to the public yesterday for just $98.
 
NBN cost to 'widen the digital divide'
THE firm rolling out the NBN wants the ability to hike prices for business broadband by up to 5 per cent more than inflation.
 
Automated cars on road to reality
THE goal is a car that can drive itself, leaving the occupants to while away their time doing the things they do now that cause crashes.
 
Google Earth puts real Amazon on map
TWO women washed clothes in the Rio Negro as a boat glided past with a camera-laden Google tricycle strapped to the roof.
 
Veteran rolls out national network
DEMAND for outsourced data centre space has led one technology entrepreneur to establish a network of facilities spanning the country.
 
Cabling pushed to the limit
THE NBN has promised to deliver for Australian consumers and businesses, but the picture isn't as rosy for data centre operators.
 
It's all go for the redundant platform
UNIVERSITIES around the country will join forces to avert a data storage crisis.
 
Pressure sees thinking inside the box
FOR years, the typical image of a data centre has been of a refrigerated room packed with towers of blinking lights and blue cables.
 
Multi-core servers can be hot potato
SERVER consolidation delivers big benefits, but it can also pose big challenges for data centre operators.
 
Centre operators face brave new world
IN the next five years data centre operators and IT managers will start to feel the burn from the modern-day technology binge.
 
Uni project to foster innovation
AUSTRALIAN universities are hoping a $47 million supercomputing cloud will replicate the success of offerings such as Amazon Web Services.
 
Green computing wins admirers
A DESIRE to keep a lid on costs and the prospect of a looming carbon tax is pushing the subject of green computing back up priority lists.
 
Heat is on in search for perfect host
AS organisations shift their IT infrastructure to cloud-based platforms, attention is focusing on data centres.
 
Boom times in data centre development
AUSTRALIA'S data centre industry is going through a development boom, with $2.1 billion in investments announced in the first half.  
 
High-speed networks cut costs
DATA centres were once a neglected element of the IT industry: necessary, but dull, with little innovation.
 
MacTel pours $60m into green facility
HAVING carved out a slice of Australia's government and corporate data-hosting market, one service provider is extending its reach.
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