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Oct 9, 2011

Stocks & Markets in the News:

Smartcompany News and Analysis: Pub group in receivership, ACCC warns franchisors on random audits, Company collapses in August second highest ever, Sean Parker’s next tech bet

smart company logo image

Today on SmartCompany we report on the collapse of another pub group and look at whether there is still more bad news to come out of the sector. We’ve got the latest iPhone pricing, we examine another big jump in corporate collapses and we look at the ACCC’s warning to franchisors over random audits. Plus in Entrepreneur Watch, James Thomson looks at the growing family problems facing Gina Rinehart.

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

Rich Secrets
Sean Parker and the Chosen Two
US tech billionaire Sean Parker's Spotify venture has some very close ties with social media behemoth Facebook. BY JAMES THOMSON.
Sean Parker

Property
Australia's population growth stagnates
The results of a controlled Federal Government slowdown in migration has become evident. BY CAMERON KUSHER.
Population growth

Aunty B
My salesperson won't shut up!
A bit of chat and then a bit of business goes a long way.
Aunty B

Selling
Sue Barrett
I wonder how many people, business owners and consumers alike are experiencing excessive frustration, anxiety or even depression as a result of the confusion marketing tactics employed by some businesses?
Sue Barrett

Behavioural Economics
Bri Williams
We spend a lot of time researching what our market thinks of our widget or brand, but we often get results based on intended rather than real behaviour.
Bri Williams

Retail trends
Kevin Moore
A simple, uncluttered and friendly shopping experience will always win the dollars.
Kevin Moore

Entrepreneur Watch
James Thomson
Gina Rinehart’s children have won the right to sue her. This isn’t going to be pretty.
James Thomson

Ice Futures U.S : Weekly Analysis of US Equity and Currency Markets


Weekly Analysis of US Equity and Currency Markets

Get your trading week started with video outlooks on the US equity and currency markets. Nick McDonald, of Trade With Precision presents a concise technical analysis of these markets for the week ahead, using the Russell 2000® index and the ICE US Dollar Index® as pivotal focuses.
View the video market commentaries »

NYT Opinion Pages Financial Romanticism: The Conscience of a Liberal - Paul Krugman





October 9, 2011, 6:27 pm

Financial Romanticism

One line I’ve been seeing in various places, including comments here, is the claim that the real way to deal with Wall Street is laissez-faire economics: no more bailouts! On this view, policy makers should raise their right hand in the air, place their left hand on a copy of Atlas Shrugged, and swear in the name of A is A that they will never again step in to rescue failing banks. And all will be well with the world.
Sorry, but that’s a fantasy.
First of all, bank regulation is important even in the absence of bailouts. Don’t trust me, trust Adam Smith. Scotland invented modern banking; it also invented modern banking crises; and Smith, having witnessed such a crisis, favored bank regulations, declaring that
Such regulations may, no doubt, be considered as in some respect a violation of natural liberty. But those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments; of the most free, as well as or the most despotical. The obligation of building party walls, in order to prevent the communication of fire, is a violation of natural liberty, exactly of the same kind with the regulations of the banking trade which are here proposed.
Second, there are in fact very good reasons to intervene to support banks during a financial crisis. Bagehot knew it; Diamond and Dybvig showed it theoretically; and it remains true. Letting a financial crisis spread is very dangerous.
Finally, even if you persuade yourself that the moral hazard created by financial firefighting outweighs the benefits of avoiding a 1931-style cascading crisis, the fact is that policy makers will intervene. Hank Paulson set out to make Lehman an example; two days later he was staring into the abyss.
So the only feasible strategy is guarantees and a financial safety net plus regulation to limit the abuse of those guarantees. It’s imperfect; it faces the constant threat of regulatory capture; but it has worked in the past, and it’s the only game in town.

Volcker Rule Could Leave Some Murky Wiggle Room: NYT : Latest Business News at 07:42 EST:



Latest Business News at 07:42 EST

10 minutes ago
Volcker Rule Could Leave Some Murky Wiggle Room
13 minutes ago
Special Report-China's Debt Pileup Raises Risk of Hard Landing
17 minutes ago
Banks Brace for Fallout on Earnings

China's $2.2bn Extract play: The Australian Business Briefing:



 
China's $2.2bn Extract play
Matt Chambers CHINA'S Guangdong Nuclear Power is set to launch a takeover bid for London-listed Kalahari Minerals.
 
Leaders forge banks pact
William Boston FRANCE and Germany have reached broad agreement on a plan to shore up Europe's battered banks and restore stability.
 
Markets focus on bank bailout
Matt Chambers TALKS between France and Germany over a eurozone bank bailout are set to be the focus of Australian markets this morning.
 
Europe keeps dollar down
THE dollar opened local trading slightly lower after events in the euro-zone continued to dampen market optimism.
 
Volatility slashes super performance
Teresa Ooi THE volatile equity market has halved the returns of many superannuation funds, exposing their over-dependence on share performance.
 
Lend Lease wins $1bn new projects
Bridget Carter LEND Lease has almost $1 billion worth of projects in the past month.
 
Sigma must take its medicine
Richard Gluyas AFTER two years of heavy losses Sigma Pharmaceuticals' half-year profit has earned him some breathing space, but not a lot more.
 
Samuel in control of family business
GRAEME Samuel has retaken control of his family business interests, as he gears for legal battle with a former close confidant.
 
Financial Markets
Europe keeps dollar down
THE dollar opened local trading slightly lower after events in the euro-zone continued to dampen market optimism.
 
Markets focus on bank bailout
Volatility slashes super performance
 
Financial Markets Coverage

The Australian Capital Circle: Colleagues tell Kevin to cool it


Colleagues tell Kevin to cool it
 
As Labor prepares to pass key carbon legislation, a pall of leadership tension hangs over the party.

Julia Gillard is in Canberra. She has no public appearances in her diary. Cabinet is not meeting today.
Tony Abbott began his day talking to Triple M Sydney's Grill Team. Mr Abbott took aim at both Kevin Rudd and Ms Gillard, telling the show: "I think both of them have no real governmental experience. I mean Kevin Rudd had been a backroom boy in Queensland. Julia Gillard had been a lifelong apparatchik and hadn’t actually done really any of the senior jobs before getting the prime ministership. Now I don’t claim to perfect but I was a minister for nine years in the Howard government. I was a cabinet minister for seven years.'' Mr Abbott will arrive in Canberra later today for shadow cabinet.
Kevin Rudd is in Canberra but has no public appearances scheduled.
Parliament resumes tomorrow with the government anticipating the passage of its historic carbon tax package through the House of Representatives on Wednesday. As Treasurer Wayne Swan says in his Economic Note: "Putting a price on carbon will break the link between emissions growth and economic growth, driving innovation to find better, less polluting ways of producing power, goods and services''. But the government's changes to the Migration Act, due for a vote on Thursday, could be defeated in the House (and barring a Liberal crossing the floor, will be defeated in the Senate). Labor needs to secure the vote of WA Nationals MP Tony Crook (report ) to win the vote in the House but he hasn't made up his mind which way he'll vote yet.
Diary: Home Affairs Minister Brendan O'Connor is in Cairns today. He's expected to announce new funding for Neighbourhood Watch. On Q & A tonight, Bill Shorten, Julie Bishop, Richard Flanagan, Ron Merkel and Caroline Overington. It's Family and Community Day in
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