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Sep 6, 2011

Smartcompany News & Analysis: House prices under pressure until end of 2012: Expert, GDP up in second quarter, Demand for Android apps rising, How

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Today on SmartCompany we examine the NSW state budget, which contained little for small business but did bring some good and bad news for the property sector. We also look at a report from property expert Louis Christopher, who says house prices in Melbourne, Brisbane and Darwin are set to drop at least 4-7% by the end of 2012 and talk to one expert who says department stores should start charging suppliers rent for letting them on their shelves. Plus in Entrepreneur Watch, James Thomson looks at why Sunday has become a crucial IR battleground.

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

Top Story
NIMBYism hurting Australia's housing future
Why the Government should encourage councils to approve more developments by linking their funding to a quota. BY CHRISTOPHER JOYE.
NIMBYism

Industry Trends
Cream of the crop: The dairy industry
Unprecedented volatility in the international dairy market combined with the onset of the GFC has had a significant impact on the fortunes of the milk and cream processing industry.
Dairy industry

Aunty B
My business partner (also my dad) is a micro-managing control freak. Help!
What is driving him is fear. If he lets his foot off the pedal for one minute, the business will collapse. How well I know that feeling.
Aunty B

Profitable growth
Julia Bickerstaff
How can you be sure that what you are delivering is ahead of the game?
Julia Bickerstaff

The Digital Bottom Line
Brendan Lewis
The difference between a good business and a great business is normally just a tweak or two.
Brendan Lewis

Property Investor
Michael Yardney
If we are widely recognised as the most liveable country, would-be residents will be beating a path to our door and we'll end up with a big Australia after all.
Michael Yardney

Entrepreneur Watch
James Thomson
The battle over penalty rates for Sunday work highlights how quickly structural change is altering our economy. Can our IR system keep up?
James Thomson

Stocks and markets in the news


Markets

Enrique Pena Nieto, outgoing Institutional Revolutionary Party (PRI) governor in the State of Mexico, is silhouetted against the national flag before delivering his sixth and final state report in Toluca September 5, 2011. No official candidates have been selected by Mexico's three main parties for the 2012 presidential elections, but the field of hopefuls is narrowing and polls continue to show Pena Nieto as the favourite to succeed current President Felipe Calderon, according to news reports. REUTERS/Bernardo Montoya (MEXICO - Tags: POLITICS ELECTIONS) - ReutersBrazil, Mexico stocks fight off intraday losses Mexican and Brazilian stocks rise Tuesday, escaping earlier losses triggered by worries about global growth in the face of Europe’s slate of debt problems.
9:23 p.m. Today
 
A security guard stands in front of a panel displaying world market indexes at an exhibition hall of the Hong Kong Stock Exchange August 10, 2011. Asian stocks clawed back some lost ground on Wednesday, following a rebound in U.S. shares, after the Federal Reserve made an unprecedented pledge to keep interest rates near zero for at least two years, stemming a global equity rout for the time being. REUTERS/Bobby Yip (CHINA - Tags: BUSINESS) - Reuters
Asian stocks rally after recent losses South Korea stocks lead an early rally for Asian markets, with investors jumping into exporters and other stocks tied to global economic growth
9:17 p.m. Today
A Citibank sign is seen at a bank branch in midtown Manhattan, New York in this November 17, 2010 file photo. Citigroup Inc said on June 8, 2011 computer hackers breached the bank's network and accessed data on hundreds of thousands of bank card holders in the latest of a string of cyber attacks on high-profile companies. REUTERS/Mike Segar/Files (UNITED STATES - Tags: BUSINESS CRIME LAW SCI TECH) - ReutersYahoo up after-hours as CEO Bartz reportedly out Yahoo shares rise Tuesday evening following a report that Carol Bartz is out as the company’s chief executive. Meanwhile, shares of Altera decline as the chip maker cuts its quarterly sales outlook.
9:08 p.m. Today
 
Stubborn losses at Citi, B. of A. hurt sector U.S. financial stocks close off their lows, but big losses at a trio of top banks shows woes are still hurting financial stocks.
5:45 p.m. Today

InvestorPlace Insights: Top Six Stocks to Sell in September

InvestorPlace INSIGHTS



The market is in a precarious technical state. Unload These Poor Performers
Don’t Let Love of Gold Blind You
Gold has a way of making investors lose all common sense these days. Risk Gold Bugs Face
10 Best Stocks for Investing in What You Know
These familiar faces are likely to do well even in a down economy. 10 Well-Known Names to Consider
A Sign GM Stock Is Revving Up
The automaker is racing to its future with new Cadillac concept. What It Looks Like
Goldman Sachs Makes Gutsy Call on Dunkin’ Brands
Despite being a solid company with decent growth prospects, GS thinks DNKN is a “sell.” See Warning
4 Big Firms, 4 Big Surprises
Last week saw some big corporate surprises, goofs and flat-out bonehead moves. Head-Scratching News

Australia economy rises above-forecast 1.2% in Q2: MarketWatch - Australia Economy | Market Pulse


By Sarah Turner
SYDNEY (MarketWatch) -- The Australian economy grew 1.2% in the April-June quarter, the Australian Bureau of Statistics reported Wednesday. The second-quarter gross domestic product growth followed a 0.9% decline in the first quarter of the year. Growth was driven by inventory changes and consumption, the ABS reported. Economists had been expecting a 1.0% rise in GDP for the second quarter, according to the median forecast from a Dow Jones Newswires survey. Compared to the same period a year ago, GDP rose 1.4%.

The Australian IT - Ping Newsletter: Optus signs up to NBN gag order

Ping Newsletter
Optus signs up to NBN gag order
OPTUS has promised not to criticise the National Broadband Network for 15 years, raising warnings the project will stifle competition.
 
NSW: millions for IT, apps
THE NSW government will use mobile applications and social media to improve community services.
 
NSW Health gets $115m IT funding
NSW has committed $115 million to health IT spending this year, with $37m earmarked for the start of five new projects.
 
Groupon cancels IPO roadshow
WEB company Groupon cancelled its roadshow and is re-evaluating its IPO plans in the face of stockmarket volatility.
 
Digital Realty nabs Melbourne site
GLOBAL data centre provider Digital Realty Trust has paid $4 million for a 3 hectare development site in Melbourne.
 
Tablet sales ban adds to heat on Samsung
SAMSUNG'S decision to pull its new tablet from display at Europe's largest electronics show is a new blow to the South Korean electronics company.
 
NBN contracts awarded in WA and Victoria
ROLLOUTS of the National Broadband Network are set to start in Western Australia and Victoria with the awarding of two multi million dollar contracts today.

Click here for all headlines

Yahoo’s Bartz reportedly leaves CEO post: MarketWatch - Bulletin - Market Pulse



By MarketWatch 

LOS ANGELES (MarketWatch) — Yahoo Inc.‘s high-profile Chief Executive Officer Carol Bartz has left the helm of the company, AllThingsD reported late Tuesday.
 
Fed ponders next move The recent bad economic news raises the odds that the Federal Reserve will take additional steps to spur growth and hiring. 

Yahoo YHOO +6.27%  Chief Financial Officer Tim Morse has been named interim CEO, the report said, adding that the situation surrounding the departure was unclear. 

A Yahoo spokesperson wasn’t immediately available to comment on the report. See AllThingD report on Yahoo’s Bartz 
 
Shares of Yahoo traded up 6.9% in after-hours transactions. They closed the regular session up 0.3%.




 
Wall St pares losses amid gloom
Wall St Steven Russolillo US stocks fell but closed off session lows, amid worries over the European debt crisis and jitters about the US economy.
 
Gold loses record on franc move
Gold Tatyana Shumsky GOLD ended lower as the US dollar, boosted by Switzerland's decision to cap the Swiss franc, weighed on prices.
 
NAB in talks to sell British arm
NAB Scott Murdoch THE two banks hold 5 per cent of the British retail banking market.
 
Ansteel shelves plan for WA mill
Steel Andrew Burrell CHINA's Ansteel has abandoned a plan to build a major steel mill in Australia because of the high costs of manufacturing.
 
On paper, it's a mission impossible
On paper, it's a mission impossible Damon Kitney TOBY Marchant says Paperlinx today is a far stronger company.
 
BHP, Rio brace for budget slug
mining Sarah-Jane Tasker THE world's largest miners are seeking urgent talks with the NSW government after the state hiked royalties
 
Swiss cap sends franc tumbling
Swiss franc Anusha Shrivastava SWITZERLAND'S aggressive action to weaken its currency drove the euro and the US dollar up 9 per cent higher versus the franc.
 
Stevens warns of slower global growth
110802 Glenn Stevens, Reserve Bank Governor, RBA Scott Murdoch THE Reserve Bank hs left the interest rates unchanged and  warned that world economic growth will slow.
 
Financial Markets
Swiss cap sends franc tumbling
Swiss franc Anusha Shrivastava SWITZERLAND'S aggressive action to weaken its currency drove the euro and the US dollar up 9 per cent higher versus the franc.
 
Wall St pares losses amid gloom
Gold loses record on franc move
 
Financial Markets Coverage
 
Mining & Energy
Gold loses record on franc move
Gold Tatyana Shumsky GOLD ended lower as the US dollar, boosted by Switzerland's decision to cap the Swiss franc, weighed on prices.
 
Oil slips on Europe, US woes
Copper falls on growth risks
 
More Mining & Energy