Oct 25, 2011
Australia inflation leaves door open for rate hike Australia’s headline consumer price index rises in line with economist expectations in the third quarter, leaving the door open for interest-rate cuts and pressuring the Australian dollar. 10:21 p.m. Today
Asia stocks fall ahead of key Europe summit Anxiety about the European debt crisis and overnight losses on Wall Street conspire to depress Asian stocks, with Japanese shares taking an additional hit from a strong yen. 9:36 p.m. Today
Smartcompany News & Analysis: Sales shock: Survey says 40% of firms see revenue fall, Training college collapses, Catch of the Day targets sales of $250m, Inside neuromarketing
Today on SmartCompany, we examine a worrying new report from MYOB, which shows 40% of SMEs have seen sales fall in the last 12 months and the average fall was 27%. As James Thomson writes in Entrepreneur Watch, it’s part of a wave of ugly data about the state of the SME community and more evidence the RBA needs to cut rates. Elsewhere we examine the collapse of another training college, and extract five lessons from the success of Catch of the Day, which turns five today and is targeting revenue of $250 million in 2011-12. And don’t miss Aunty B, who is full of festive spirit right now – yesterday she tackled Christmas parties, today she’s looking at Christmas presents.
For all this and more, head to our home page.
For all this and more, head to our home page.
| Entrepreneur Watch |
A wave of ugly economic data – including big falls in SME revenue – should force the RBA to cut rates.
Personal Finance Daily
OCTOBER 25, 2011
Tips to trim your property-tax bill
- 4 money mistakes you don't want to make
- 5 tips to turn lower home values into tax relief
- How not to seek dividend income
- Hiring doesn't boost confidence any more
That is, if your home's value has dropped.
As Amy Hoak notes in her Home Economics column today, a problem can arise if your home's value has increased — in that situation, contesting your property-tax bill may bring home only higher costs.
Amy offers some tips and tricks for figuring out where you stand, and whether you should contest your bill. Read her story, plus don't miss Jennifer Openshaw on some of the common financial mistakes people make — and how to avoid them.
— Andrea Coombes , personal finance editor
5 tips to turn lower home values into tax relief
One bright side of falling home prices: Homeowners may be able to snag some property-tax relief by challenging outdated assessments.
Read more: 5 tips to turn lower home values into tax relief.
4 money mistakes you don't want to make
Most people can't spend much of their working day managing money, but if you make a little time around the edges and avoid some of the most common pitfalls, you're bound to come out ahead, writes Jennifer Openshaw.
Read more: 4 money mistakes you don't want to make.
Workers come out winners even after 401(k) lawsuits are losers
Few workers are happy with the performance of their 401(k) plans in recent years but how much blame should be placed with employers?
Read more: Workers come out winners even after 401(k) lawsuits are losers.
How not to seek dividend income
Advisers have been forecasting that stock-market leadership would soon shift toward blue-chip dividend-paying stocks. Unfortunately, the most popular dividend-stock strategy among retail investors has produced disappointing returns in recent years.
Read more: How not to seek dividend income.
ECONOMY & POLITICS
Perry stirs pot with new tax plan
Seeking to inject new life into his flagging presidential campaign, Texas Gov. Rick Perry proposes an optional flat income tax of 20% and balancing the budget by 2020.
Read more: Perry stirs pot with new tax plan.
Hiring doesn't boost confidence anymore
Even though companies are hiring and consumers are spending, we still feel pretty lousy about the economy, writes Rex Nutting.
Read more: Hiring doesn't boost confidence anymore.
Consumer confidence weakest since March 2009
U.S. consumers let their pessimism show in October, as their level of confidence drops to the lowest level in 2 1/2 years, Conference Board data show.
Read more: October consumer confidence weakest since March 2009.
U.S. home prices up 0.2% in August: Case-Shiller
U.S. home prices edge higher for a fifth straight month in August, according to the S&P/Case-Shiller index.
Read more: U.S. home prices up 0.2% in August.
COLA is much ado about nothing
If you are counting on seniors to help jump-start the economy because of the cost of living adjustment, or COLA, they are scheduled to receive early next year ... forget about it! This increase is not as good as it looks.
Read more: COLA is much ado about nothing.
Europe must do debt deal quickly: U.S. Treasury
Europe must move "quickly and firmly" to implement any agreement to solve the euro-zone crisis, says Charles Collyns, the Treasury Department's assistant secretary for international finance.
Read more: Europe must do debt deal quickly.
Scenes from China's economy
In this slide show, see images of Chinese commerce and industry in action. Amid China's prosperity, some analysts are worried of a coming "hard landing" for the world's No. 2 economy.
See slide show: Scenes from China's economy.
|Wikileaks faces collapse|
|WIKILEAKS may be weeks away from collapse, the organization's leader said.|
|IBM appoints new CEO|
|IBM has named Virginia Rometty as its new chief executive following the retirement of Samuel Palmisano.|
|SAP sells ByDesign locally|
|Stuart Kennedy SAP is inching towards the first truly local sale of its long gestated, online delivered ByDesign software.|
|Nokia to unveil first Windows phone|
|NOKIA is widely expected to unveil the first of these Windows smartphones at this week's Nokia World gathering.|
|Health Solutions boosts revenue|
|Karen Dearne MEDIBANK Private's new Health Solutions unit boosted its revenues to $258 million last year.|
|UTS offers analytics degree|
|Jennifer Foreshew The University of Technology in Sydney will offer the first research degrees in analytics in Australia.|
|Netflix shares dive|
|NETFLIX shares have dived, losing more than a third of their value, as customers switch off the online video rental service.|
|Politicians should not ignore social media|
|FRAN FOO POLITICIANS who ignore social media do so at their peril, warned Rishi Saha, Prime Minister David Cameron's former digital head honcho.|
22 October 2011 Last updated at 22:16 GMT
Eurozone in trouble
Understanding the global crisis
|Abbott adds pokies to roll back list|
|Tony Abbott has pledged to strike down mandatory pre-commitment if elected, as Julia Gillard strides the world stage at CHOGM in Perth.|
Julia Gillard is in Perth for CHOGM. She hanother full day of events, starting with a visit to Hoffmann Engineering Manufacturing Facilities, the Parkwood Primary School and bilateral meetings with Sri Lankan President Mahendra Rajapaksa and Nigerian President Goodluck Jonathan.
Tony Abbott was wheels up and off to Perth this morning for the next three days of CHOGM-related events. Mr Abbott will attend the opening session of CHOGM and hold a series of meetings with political leaders. Chief among those meetings is a sit-down with British prime minister David Cameron and Foreign Minister William Hague that has been pencilled in - the pair could be delayed by events in Europe.
First up : Mr Abbott will hold a doorstop on arrival in Perth. He'll face questions about his pledge last night to 1000 people at the Campbelltown RSL to rescind the government's mandatory pre-commitment scheme. Mr Abbott described the pre-commitment legislation as bad law that could not be supported by any sensible party. "When this legislation comes before the Parliament I predict that we will oppose it," he said. "And if this legislation is passed by the Parliament and if we then subsequently form a government, I predict we will rescind it. That's what I predict." (report).
Need to know : As speculation about a Melbourne Cup day rate cut grows, economic boffins will be logging on to the ABS website at midday when the consumer price index figures for September are released. The figures will help guide the RBA's decision on rates, which have hasn't touched rates since Cup Day last year when they rose 0.25 per cent. The Australian reports: Reserve Bank appears in no hurry to cut interest rates and deputy governor Ric Battellino describes the outlook for the economy as "benign". But every bit helps.
Service strikes: Staff at the communications regulator ACMA
|Simon Crean as nightwatchman?|
|It is reasonable to assume that Julia Gillard won’t lead the Labor Party to the next election. But who should Caucus elect to replace her?…|
|More Peter Brent|
CFTC | Enforcement Actions: CFTC Charges Texas Residents Linda Harris, Chance Harris and Two of Their Companies with Solicitation Fraud, Misrepresentation, and Misappropriation in Multi-Million Dollar Forex Scheme
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CFTC Charges Texas Residents Linda Harris, Chance Harris and Two of Their Companies with Solicitation Fraud, Misrepresentation, and Misappropriation in Multi-Million Dollar Forex Scheme