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Dec 14, 2011

Financial and Forex Info News | The Australian Business Briefing Update: NAB attacks all parties on rates



 

NAB attacks all parties on rates
Scott Murdoch NAB chairman Michael Chaney today accused all parties in federal parliament of treating banks as a "political football".
 
Shares down 1.4pc as miners fall
Sarah Turner THE sharemarket was deep in the red this afternoon after the euro crashed and a commodities sell-off pulled on miners.
 
Inflation bets fall as mood sours
James Glynn AUSTRALIAN inflationary expectations nudged lower this month reflecting growing pessimism among consumers.
 
Mini property moguls vulnerable
Cynthia Koons CRACKS are starting to appear in the housing market, with the high level of property investment a concern should prices drop. 
 
Euro sinks as divide widens
Bernd Radowitz THE euro sank below $US1.30 for the first time since January and leaders underlined how far apart they remain on a solution.
 
Bluescope retail offer short
SHARES in Bluescope Steel are in a trading halt as it seeks to sell shares not taken up in a recent capital raising.
 
Alleged fraudster a model banker
Alex Ralph A UBS wealth manager, accused of defrauding customers of millions was held up as a bank "golden boy", a tribunal heard.
 
Michael Kors IPO big draw
Lynn Cowan APPAREL designer Michael Kors earned a higher price tag and sold more shares than expected in its IPO.
 
Financial Markets
Shares down 1.4pc as miners fall
Sarah Turner THE sharemarket was deep in the red this afternoon after the euro crashed and a commodities sell-off pulled on miners.
 
Stocks fall as euro crashes
Appetite for US debt soars
 
Financial Markets Coverage
 
Mining & Energy
Mines capex won't push surplus
Geoffrey Rogow IF the ALP returns the country to surplus within a year, it will be despite a mining investment boom, not because of it.
 
Hastings in APA pipeline
Oil dumped on demand worries
 
More Mining & Energy

Smartcompany News and Analysis: Queensland retailer in administration, Small business cabinet spot not essential: Sherry, Five lessons from The Wiggles, Top 10 gadgets of 2011

smart company logo image

Today on SmartCompany we examine the collapse of Queensland retail chain Glenfords, ask what we can really expect from the Federal Government's red tape inquiry and look at whether we can anticipate more problems in the banking world over Christmas after the latest Commonwealth Bank outage. In Entrepreneur Watch, James Thomson looks at five SME lessons from The Wiggles, while Madeleine Heffernan has a special interview with outgoing Small Business Minister Nick Sherry.


Tax
Another year and capital gains still causes problems
Capital gains tax has been around for over 25 years now but it continues to bedevil SMEs. BY TERRY HAYES.
Terry Hayes

Information Technology
The top 10 gadgets for 2011 – and 10 more for next year
With more manufacturers jumping on board with smartphones, advanced televisions and a boom in consumer electronics, gadget lovers have a smorgasbord of goodies to keep their technical habit going. BY PATRICK STAFFORD.
Stafford

Aunty B
Why do I need a vision for the business?
It's Christmas. Why can't you ask something easy like how to get staff to clean the kitchen?
Aunty B

IT Systems
David Markus
As summer (and the fire season) approaches, think about the security of your data, and how safe it really is.
David Markus

IT Means Business
Dave Stevens
It doesn’t always get the emphasis that the “I” does, but it’s always worth pausing to examine the “C” in Information and Communications Technology (ICT).
Dave Stevens

Business Tech Talk
Paul Wallbank
Your tech gurus or marketing interns probably aren’t the right people to be running your business’ online presence.
Paul Wallbank

Entrepreneur Watch
James Thomson

Another year, another appearance on the list of Australia’s richest entertainers for The Wiggles. But what can SMEs learn?

NYT Global Update: Obama Praises Troops as He Ends the War He Opposed

Global Update



TOP NEWS

Obama Praises Troops as He Ends the War He Opposed

By HELENE COOPER
President Obama made the trip to Fort Bragg on Wednesday - his first since taking office - as both the commander in chief and as a presidential candidate.

Putin Ally Resigns as Speaker of Russian Parliament

By MICHAEL SCHWIRTZ
A ranking official in Prime Minister Vladimir V. Putin's party resigned as speaker of the lower house of Parliament in the wake of allegations of vote fraud.

Beirut Bank Seen as a Hub of Hezbollah's Financing

By JO BECKER
Inquiries into a Lebanon bank have offered evidence of an international money-laundering apparatus that funds the group, also exposing possible direct involvement of Hezbollah officials in the drug trade.
World

Chinese Village Locked in Rebellion Against Authorities

By ANDREW JACOBS
A long-running dispute between the local authorities and farmers in a southern Chinese town exploded into open rebellion this week, residents said.
Opinion

Op-Ed Contributor

We Are Palestinians

DAOUD KUTTAB
Gingrich's attempt to deny a Palestinian identity has nothing to do with history.
WORLD

Accounts of a Massacre, Saved From Junkyard Flames

By MICHAEL S. SCHMIDT
Interviews with Marines about the 2005 Haditha killings were among reams of classified documents destined to become an attendant's kindling in Baghdad.

Israel Leader Sets New Curbs on Violent Settlers

By ETHAN BRONNER
A second day of Jewish settler violence that has driven Israel into an emotional debate on the growing lawlessness of the country's extreme right.

Syrian Army Defectors Ambush Assad Security Force

By NADA BAKRI
Armed defectors from the Syrian military killed at least eight government troops on Wednesday in an ambush near the city of Hama, opposition groups said.
BUSINESS

Poland's Economy Refuses to Follow Its Neighbors

By JACK EWING
Poland outshines much of the euro zone in terms of growth, but business and government leaders wonder how long their country can avoid the pain in Western Europe.

New E.C.B. Official May Be Open to Bond-Buying

By JACK EWING
Benoit Coeure, a French Treasury official who was confirmed Wednesday to the European Central Bank board, said the bank may have to step up bond purchases.

China Imposes New Tariffs on Some Vehicles From the U.S.

By KEITH BRADSHER
The new duties, which apply mainly to sport utility vehicles and large cars, signal an escalation in trade hostilities.
TECHNOLOGY

Lines Are Drawn on Legislation Against Internet Piracy

By EDWARD WYATT
Both supporters and opponents of the bills in the House and the Senate are making their cases through well-financed advertising campaigns.

I.B.M. Settles Antitrust Case With E.U.

By STEPHEN CASTLE
Antitrust regulators accepted concessions from the U.S. computing giant that will modify how it provides technical information and spare parts to rivals.

U.S. Safety Board Urges Cellphone Ban for Drivers

By MATT RICHTEL
The National Transportation Safety Board said that states should ban all driver use of cellphones and other portable electronic devices, except in emergencies.
SPORTS

For Anelka, the Chance to Be Part of Something Big

By ROB HUGHES
By agreeing to a deal with a Chinese club while he still has a few good years left, the Frenchman could help make soccer even bigger in the world's second-biggest economy.

Bidding for Japanese Players Is a Denigrated Risk

By DAVID WALDSTEIN
Major league teams that want to negotiate with the star pitcher Yu Darvish must post bids by Wednesday, and there are no guarantees of success.

Prokhorov's Candidacy Doesn't Faze the N.B.A.

By HOWARD BECK
The announcement of Mikhail D. Prokhorov's pursuit of the Russian presidency was greeted with a shrug by league officials.
U.S. NEWS

Rush for Gas Rights Ignites Battles for Control of Land

By SABRINA TAVERNISE
As energy companies and states push to simplify regulations, some local governments are resisting an erosion of their control.

Aid for Child Care Drops When It Is Needed Most

By SABRINA TAVERNISE
Federal and state subsidies have taken a hit from budget cuts, forcing parents to find other arrangements to stay employed.

Holder Signals Tough Review of New State Laws on Voting

By CHARLIE SAVAGE
Attorney General Eric H. Holder Jr. weighed in on the partisan debate over race and ballot access in a speech assessing new state laws that critics say restrict voting rights.
OPINION
Op-Ed Contributor

Old Havana Declines to Die

By MICHAEL VATIKIOTIS
Cubans regard Havana as a valuable heirloom, a symbol of a culture that is proudly Latin and American.
Op-Ed Contributor

Character Values

By KUMIKO MAKIHARA
Having one character speak volumes is a beloved Japanese art form.
Op-Ed Contributors

Unfinished Business

FRANK KLOTZ, SUSAN KOCH and FRANKLIN MILLER
20 years ago, Russia and the U.S. found a way to reduce their nuclear arsenals. It's time for the next step.

TOP NEWS

Obama Praises Troops as He Ends the War He Opposed

By HELENE COOPER
President Obama made the trip to Fort Bragg on Wednesday - his first since taking office - as both the commander in chief and as a presidential candidate.

Putin Ally Resigns as Speaker of Russian Parliament

By MICHAEL SCHWIRTZ
A ranking official in Prime Minister Vladimir V. Putin's party resigned as speaker of the lower house of Parliament in the wake of allegations of vote fraud.

Beirut Bank Seen as a Hub of Hezbollah's Financing

By JO BECKER
Inquiries into a Lebanon bank have offered evidence of an international money-laundering apparatus that funds the group, also exposing possible direct involvement of Hezbollah officials in the drug trade.
World

Chinese Village Locked in Rebellion Against Authorities

By ANDREW JACOBS
A long-running dispute between the local authorities and farmers in a southern Chinese town exploded into open rebellion this week, residents said.
Opinion

Op-Ed Contributor

We Are Palestinians

DAOUD KUTTAB
Gingrich's attempt to deny a Palestinian identity has nothing to do with history.
WORLD

Accounts of a Massacre, Saved From Junkyard Flames

By MICHAEL S. SCHMIDT
Interviews with Marines about the 2005 Haditha killings were among reams of classified documents destined to become an attendant's kindling in Baghdad.

Israel Leader Sets New Curbs on Violent Settlers

By ETHAN BRONNER
A second day of Jewish settler violence that has driven Israel into an emotional debate on the growing lawlessness of the country's extreme right.

Syrian Army Defectors Ambush Assad Security Force

By NADA BAKRI
Armed defectors from the Syrian military killed at least eight government troops on Wednesday in an ambush near the city of Hama, opposition groups said.
BUSINESS

Poland's Economy Refuses to Follow Its Neighbors

By JACK EWING
Poland outshines much of the euro zone in terms of growth, but business and government leaders wonder how long their country can avoid the pain in Western Europe.

New E.C.B. Official May Be Open to Bond-Buying

By JACK EWING
Benoit Coeure, a French Treasury official who was confirmed Wednesday to the European Central Bank board, said the bank may have to step up bond purchases.

China Imposes New Tariffs on Some Vehicles From the U.S.

By KEITH BRADSHER
The new duties, which apply mainly to sport utility vehicles and large cars, signal an escalation in trade hostilities.
TECHNOLOGY

Lines Are Drawn on Legislation Against Internet Piracy

By EDWARD WYATT
Both supporters and opponents of the bills in the House and the Senate are making their cases through well-financed advertising campaigns.

I.B.M. Settles Antitrust Case With E.U.

By STEPHEN CASTLE
Antitrust regulators accepted concessions from the U.S. computing giant that will modify how it provides technical information and spare parts to rivals.

U.S. Safety Board Urges Cellphone Ban for Drivers

By MATT RICHTEL
The National Transportation Safety Board said that states should ban all driver use of cellphones and other portable electronic devices, except in emergencies.
SPORTS

For Anelka, the Chance to Be Part of Something Big

By ROB HUGHES
By agreeing to a deal with a Chinese club while he still has a few good years left, the Frenchman could help make soccer even bigger in the world's second-biggest economy.

Bidding for Japanese Players Is a Denigrated Risk

By DAVID WALDSTEIN
Major league teams that want to negotiate with the star pitcher Yu Darvish must post bids by Wednesday, and there are no guarantees of success.

Prokhorov's Candidacy Doesn't Faze the N.B.A.

By HOWARD BECK
The announcement of Mikhail D. Prokhorov's pursuit of the Russian presidency was greeted with a shrug by league officials.
U.S. NEWS

Rush for Gas Rights Ignites Battles for Control of Land

By SABRINA TAVERNISE
As energy companies and states push to simplify regulations, some local governments are resisting an erosion of their control.

Aid for Child Care Drops When It Is Needed Most

By SABRINA TAVERNISE
Federal and state subsidies have taken a hit from budget cuts, forcing parents to find other arrangements to stay employed.

Holder Signals Tough Review of New State Laws on Voting

By CHARLIE SAVAGE
Attorney General Eric H. Holder Jr. weighed in on the partisan debate over race and ballot access in a speech assessing new state laws that critics say restrict voting rights.
OPINION
Op-Ed Contributor

Old Havana Declines to Die

By MICHAEL VATIKIOTIS
Cubans regard Havana as a valuable heirloom, a symbol of a culture that is proudly Latin and American.
Op-Ed Contributor

Character Values

By KUMIKO MAKIHARA
Having one character speak volumes is a beloved Japanese art form.
Op-Ed Contributors

Unfinished Business

FRANK KLOTZ, SUSAN KOCH and FRANKLIN MILLER
20 years ago, Russia and the U.S. found a way to reduce their nuclear arsenals. It's time for the next step.