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May 2, 2012

Smartcompany News and Analysis: How to protect your business from fraud, 1,000 workers locked out as transport group goes under, New Blackberry unveiled, IR on Budget agenda

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Fraud is on the rise and it can destroy your business, so today on SmartCompany we look at the steps you can take to make sure your business does not hire a fraud.

We also look at news that CBA and the NAB will not pass on the full extent of the Reserve Bank’s rate cut, examine whether businesses need a Facebook risk plan and ask what the Government has in store for the Budget with industrial relations reform, superannuation and the childcare rebate all on the agenda.

Plus in Entrepreneur Watch, James Thomson considers whether the banks are spoiling the interest rate buzz and warns that ANZ’s CEO has a worrying message about our recovery prospects.

How to stop your business hiring a fraud
Fraud is on the rise, and it can destroy your business. Fortunately, there are some steps you can take to lower your risk. BY PATRICK STAFFORD.

Federal tax receipts down: A budget omen?
With Treasurer Wayne Swan aiming for a budget surplus, the Federal Government will be looking to squeeze all it can from its available sources of tax revenue to make it happen. BY TERRY HAYES.

Aunty B
Get an estimate on your numbers
Getting accountancy work done is, sort of, like going to the mechanic — you’ve got to get an idea of how much the fix will cost.
Aunty B

Online sales
Chris Thomas
There have been some interesting developments in Google search results and SEO in the United States, and now we’re seeing the same thing here in Australia.
Ask the Experts

IT Systems
David Markus
Reliable hardware and software systems keep a business humming, so short-term scrimping on infrastructure is rarely worthwhile.
Smart Blogs

Business Tech Talk
Paul Wallbank
So you think social media is free? How much do you value your time?
Smart Blogs

IT Means Business
Dave Stevens
Many early-adopter businesses are now facing crucial decisions about tenancy arrangements in the cloud services world.
Smart Blogs

Entrepreneur Watch
James Thomson
The banks are spoiling the interest rate buzz, but ANZ’s CEO has a worrying message about our recovery prospects.
Entrepreneur Watch

Financial and Forex Info News | The Australian Capital Circle: HSU raids overshadow Labor leadership talk

HSU raids overshadow Labor leadership talk
Police raids on the Health Services Union have overshadowed speculation about Julia Gillard's leadership.

First off: In another embarrassing blow for federal Labor, the former ALP president Michael Williamson may face criminal charges after allegedly trying to smuggle documents out of the union's headquarters during the raid by Strike Force Carnarvon (The Australian) (SMH). There are allegations the union has been paying a company whose offices can't be located (The Australian), while union boss Kathy Jackson claims she was offered a parliamentary seat in exchange for her silence (Sky News) (The Advertiser).
Workplace Relations Minister Bill Shorten's bid to put the HSU East branch of the union into administration will today be heard in the Federal Court in Sydney .The move is backed by six other branches of the union. Mr Shorten's ally, Communications Minister Stephen Conroy, today took aim at current branch officials, telling Channel Nine "We want to sack all of them" to clean up the union.
Julia Gillard begins her day in Canberra with a press conference with Defence Minister Stephen Smith and Defence Materiel Minister Jason Clare on defence procurement just after 9am. The PM will make a speech in Melbourne tonight to the Global Foundation, where she'll talk about the government's white paper on Australia in the Asian century. IMF managing director Christine Lagarde, opposition finance spokesman Andrew Robb and former Governor-General Michael Jeffery are also on the program. More details Read more...
Peter Brent
Peter Brent
It’s all superficial
As the federal Labor Party reluctantly, belatedly, prepares to give another leader the heave-ho, the question is: who? Who will lead them to the next…
More Peter Brent

DealBooK | DealB%K Afternoon Edition: The Trade: Taking on the Little Guy, but Missing the Bigger Ones

Wednesday, May 2, 2012
The Trade: Taking on the Little Guy, but Missing the Bigger Ones Jesse Eisinger of ProPublica says that the Securities and Exchange Commission brought a case against a tiny ratings agency, but has not moved against executives of any major firm for actions leading to the financial crisis.
    At Milken, Feelings of Malaise Judging from the mood of the attendees at the Milken conference, Wall Street is not the capitalist feeding frenzy it used to be.
    In Debt: When Insolvency Cases Are Global Stephen J. Lubben says that a United Nations working group is trying to come up with, and constantly improve, guidelines for handling insolvency cases. Both cross-boarder cooperation and international harmonization are the aim.
    Silver Lake Takes Stake in William Morris Endeavor The private equity firm Silver Lake has acquired a minority stake in the William Morris Endeavor Entertainment talent agency, the two announced on Wednesday, in a move to expand their presence in new media.
    Revolving Door: Shearman & Sterling Names Senior Partner Creighton O'M. Condon, a mergers-and-acquisitions lawyer, succeeds Rohan S. Weerasingh, who recently joined Citigroup, a longtime Shearman client, as the bank's general counsel.
    The Gores Group may try to walk away from the $1 billion leveraged buyout of Pep Boys, the auto parts and repair company.
    Deal Professor: Walking Away From Merger Deals Steven M. Davidoff says that the Pep Boys may have few options after the private equity firm Gores Group suggested it might terminate a merger agreement.
    Carlyle Lowers I.P.O. Range on Eve of Pricing The Carlyle Group has lowered the range for its initial public offering to $22 to $23 a unit as the private equity firm and its advisers prepare to price the stock sale later in the day.
    Owner of Lane Bryant Is Sold Charming Shoppes, owner of the Lane Bryant line of women's clothing, announced a deal on Wednesday to sell itself to the Ascena Retail Group for about $890 million.
    UBS headquarters in Zurich.
    UBS Profit Drops 54% in First Quarter The Swiss bank's profit fell to $910 million after income in its investment banking unit declined and the firm took an accounting charge on its own debt.
    Highfields Names 3 Candidates for CoreLogic Board Highfields Capital Management on Tuesday publicly named three candidates for the board of CoreLogic, continuing an effort to revamp the data analytics provider after the company called off a sale of itself. The hedge fund said that it had already proposed its candidates - the financiers Barry Baker and Glenn Christenson, as well as Highfields executive Farhad Nanji - to the search firm already looking for candidates for the CoreLogic board.
    Economic Reports Data released on Thursday will include weekly jobless claims, first-quarter productivity and the I.S.M. nonmanufacturing report for April.
    Corporate Earnings Companies reporting on Thursday will include Cablevision Systems, Cigna, General Motors, Sara Lee, Viacom, American International Group, Kraft Foods, LinkedIn.
    In the United States Retailers will report same-store sales for April on Thursday.
    Overseas The European Central Bank will issue a decision about interest rates on Thursday.
    DealBook Video
    Business Day Live: The BlackBerry 10 Prototype
    Business Day Live: The BlackBerry 10 Prototype With BlackBerry 10, Research in Motion hopes for a comeback; why complacency is a problem for Google; and China's vanishing trade imbalance.


NYT Afternoon Business News: Trapped in the Middle Seat


Trapped in the Middle Seat

Business travel spending has continued to rise, but that growth has mostly come from higher prices. Amid cutbacks, companies have become increasingly strategic about managing travel.

Carlyle Lowers I.P.O. Range on Eve of Pricing

The Carlyle Group has lowered the range for its initial public offering to $22 to $23 a unit as the private equity firm and its advisers prepare to price the stock sale later in the day.

Chesapeake's Chief Executive Addresses Disclosures

In his remarks, Aubrey K. McClendon expressed no remorse for revelations about his financial dealings except for the distraction stirred up by the media.

Broadcaster Distances Itself From News Corp.

A day after a British parliamentary panel castigated Rupert Murdoch, BSkYB insisted on Wednesday that it was a "fit and proper" company to hold a broadcasting license.

Unemployment Reaches Record High in Euro Zone

Unemployment rose to 10.9 percent in March, the 11th monthly increase in row, and is likely to add to tension ahead of national elections in Greece and France on Sunday.

CBS NEWS | Political Hotsheet Top Stories: Newt Gingrich suspends presidential campaign


Former House Speaker bids goodbye to "a truly wild ride," offers tepid backing for former rival Mitt Romney
Read full story
Newt Gingrich suspends presidential campaign

In Mass. Senate race, Obama enters the fray Elizabeth Warren unveils new ad touting Obama support; Scott Brown plays up bipartisanship

Romney invokes Jimmy Carter in blasting Obama For the second time in three days, Romney attempts to tie President Obama to the one-term Democrat

Obama's ex-girlfriends shed light on his early years New Obama biography includes letters and journals from two women the president dated as a young man

Gingrich poised to embrace bitter rival Romney Newt Gingrich preparing to swallow his pride and fall in line behind Mitt Romney after a series of harsh primary-season attacks

Standard & Poors Latin America Highlights: Special Report on Upcoming Mexico’s Elections

Standard & Poor's LatinAmerica Highlights


Standard & Poor’s Inaugural Emerging Markets Corporate Default And Rating Transitions Study

Subsidiarias de bancos europeos en América Latina relativamente a salvo de crisis económica y financiera en Europa
English Version

How The Changing Global Economy Is Affecting Latin America

Construção imobiliária no Brasil crescerá moderadamente em 2012

Not a subscriber to S&P Podcasts? It's easy and free. register here
Latin America Product and Services

Top Stories

Diez preguntas clave de inversionistas: Elecciones en México y la calificación soberana

El 1 de julio, México tendrá su 19ª elección presidencial bajo la Constitución de 1917 y la tercera desde que el partido de centro izquierda, Partido Revolucionario Institucional (PRI), perdió su posición hegemónica ante el Partido Acción Nacional (PAN).

English Version

Mexico Heads Into A New “Sexenio”

On July 1, 2012, Mexican voters will head to the polls to elect a new president and 628 members of Congress. Because Mexico's political system doesn't permit immediate reelection in Congress and limits presidents to one life-time term, the elections will usher in a complete turnover in these two branches of the government.

Condiciones de operación para emisores corporativos mexicanos improbable que cambien tras resultados de elección presidencial

Standard & Poor's Ratings Services considera que las condiciones de negocio en México no se verán afectadas de manera significativa por los acontecimientos políticos que ocurran durante los próximos dos meses.

English Version

Poco probable que elección presidencial de México sacuda a la sólida industria bancaria del país

Con la elección presidencial de México a menos de tres meses de distancia, la industria bancaria del país parece estar bien posicionada, a pesar de la volatilidad en los mercados internacionales.

English Version

Poco probable que mercados de bursatilización se vean afectados por próximas elecciones en México

Naturalmente, los años electorales están llenos de preguntas e incertidumbre sobre políticas de gobierno y economía, y las próximas elecciones en México del 1 de julio de 2012 —las primeras desde la recesión económica mundial que comenzó en 2008— no son la excepción.

English Version

Limitada flexibilidad presupuestaria caracteriza estados y municipios mexicanos en año electoral

A medida que las elecciones generales en México se avecinan, Standard & Poor’s Ratings Services considera que las finanzas de los estados y municipios del país muestran una situación menos favorable que en años pasados.

English Version

Inversionistas podrían ver pronto con otros ojos a la infraestructura mexicana

Durante los últimos 10 años, Standard & Poor’s Ratings Services ha señalado la necesidad de una mayor inversión en infraestructura en México, lo que aceleraría el crecimiento económico del país.

English Version

For Mexican Homebuilders, The Potential For Growth Holds In A Presidential Election Year

This is the last year of Felipe Calderon's presidential term, but we are still waiting to see whether it's the end of the line for his political party, the Partido Acción Nacional (PAN), as well.

Industry Report Card: Latin American Consumer Product Companies Pursue Growth, But Their Revenues Are Slowing Somewhat

Strong demand in Latin American domestic economies will probably keep promoting top-line revenue growth for consumer goods producers throughout 2012, according to Standard & Poor's Ratings Services' analysis.

Ranking dos emissores do setor de bens de consumo da América Latina

A Standard & Poor’s avalia 37 empresas do setor de bens de consumo na América Latina. Desde dezembro de 2011, atribuímos cinco novos ratings ao segmento e retiramos um, o da produtora brasileira de açúcar e etanol Agro Industrial Vista Alegre LTDA.

English Version

Rating News


Standard & Poor’s revisa tendencia de calificación de Argentina (no solicitada) a negativa desde estable en base a la creciente incertidumbre respecto a las perspectivas de mediano plazo

Nueva York, 23 de abril de 2012.- Standard & Poor’s Ratings Services afirmó hoy sus calificaciones soberanas (no solicitadas) de largo y corto plazo de ‘B’ y su calificación en escala nacional de ‘raAA’ de la República de Argentina.

English Version

S&P revisa tendencia de calificaciones de ocho empresas argentinas a negativa tras acción similar sobre el soberano

Buenos Aires, 24 de abril de 2012.- Standard & Poor’s Ratings Services revisó hoy la tendencia de las calificaciones de las empresas argentinas listadas a continuación a negativa de estable y afirmamos sus calificaciones.

English Version

Outlooks On Four Argentine Banks Revised To Negative From Stable Following Similar Action On Sovereign

On April 24, 2012, Standard & Poor's Ratings Services revised its outlook on the global scale ratings on Banco Hipotecario S.A., Banco Patagonia S.A., Banco Galicia y Buenos Aires S.A., and Banco de la Provincia de Buenos Aires to negative from stable.

S&P revisa tendencia de las calificaciones de las provincias de Argentina a negativa tras acción similar sobre el soberano

Buenos Aires, 24 de abril de 2012.- Standard & Poor’s Ratings Services revisó la tendencia de las calificaciones de la Ciudad de Buenos Aires y de las provincias de Buenos Aires, Córdoba y Mendoza a negativa de estable.

English Version


Standard & Poor's atribui rating final ‘brA (sf)’ às cotas seniores do Trendbank Multicredit – FIDC

São Paulo (Standard & Poor’s), 26 de abril de 2012 — A Standard & Poor’s Ratings Services atribuiu hoje o rating final ‘brA (sf)’ às cotas seniores do Trendbank Multicred - Fundo de Investimentos Creditórios.

Ratings da Lupatech S.A. rebaixados para ‘SD’ na escala global e na Escala Nacional Brasil por postergação no pagamento dos juros das debêntures

Em 23 de abril de 2012, a Standard & Poor’s Ratings Services rebaixou os ratings de crédito corporativo atribuídos à Lupatech S.A. (“Lupatech”), de ‘B-’ para ‘SD’ na escala global, e de ‘brBB’ para ‘SD’ na Escala Nacional Brasil.

Ratings ‘BBB/A-3’ na escala global e ‘brAAA’ na Escala Nacional Brasil do Banco do Nordeste do Brasil S.A. reafirmados

Em 23 de abril de 2012, a Standard & Poor’s Ratings Services reafirmou seus ratings ‘BBB/A-3’ na escala global e ‘brAAA’ na Escala Nacional Brasil atribuídos ao Banco do Nordeste do Brasil S.A. (“BNB”).


Empresas CMPC S.A. Corporate Credit Rating Affirmed At 'BBB+'; Subsidiary Inversiones CMPC's Notes Rated At Same Level

Inversiones CMPC, subsidiary of Chile-based forest products company CMPC, plans to issue $500 million in notes under CMPC's full guarantee. We are assigning our 'BBB+' rating to the proposed notes and affirming our ratings, including the foreign curr...



Standard & Poor's Ratings Services' ratings on AES CHIVOR & CIA S.C.A. E.S.P. (Chivor) reflect the company's strong competitive position as a low-cost power generator, its sizable dam, the favorable hydrology in its region, its large portfolio of sho...

Dominican Republic

Dominican Republic 'B+/B' Ratings Affirmed; Outlook Remains Stable

The Dominican Republic's economic growth and export prospects are solid, and we expect the government to remain committed to fiscal and macroeconomic stability. However, the Dominican Republic has weak institutions and many structural rigidities.

Cerveceria Nacional Dominicana S.A. Upgraded To 'B+', Then Placed On Watch Positive After Announced Acquisition By AmBev

On April 17, 2012, Standard & Poor's Ratings Services raised its rating on Dominican Republic-based beer and malt producer and distributor Cerveceria Nacional Dominicana S.A. (CND) to 'B+' from 'B'.


Rating On Oleoducto de Crudos Pesados' Senior Secured Bank Loan Affirmed, Outlook Negative

On April 19, 2012, we lowered our corporate credit ratings on OCP's sponsor, Repsol-YPF, to 'BBB-' from 'BBB' with a negative outlook. Standard & Poor's is affirming the 'BBB' issue-level rating on Ecuador-based oil pipeline project OCP's $900 millio...


Standard & Poor's asigna calificación de 'BBB' a la emisión de notas senior no garantizadas de PEMEX por A$150 millones

México, D.F., 20 de abril de 2012.- Standard & Poor’s Ratings Services asignó hoy su calificación de deuda en escala global de ‘BBB’ a la emisión de notas senior no garantizadas de la petrolera mexicana, Petróleos Mexicanos.

Standard & Poor's subió las calificaciones de Inmobiliaria Ruba a 'mxBBB+' de 'mxBBB'; la perspectiva es estable

México, D.F. 23 de abril de 2012.- Standard & Poor’s subió hoy sus calificaciones de riesgo crediticio de largo plazo y de sus certificados bursátiles con clave de pizarra RUBA08-2 en escala nacional –CaVal– a ‘mxBBB+’ de ‘mxBBB’ de Inmobiliaria Ruba, SA.


S&P asigna calificación preliminar de 'BBB-' a serie 2012 del programa de Covered Bonds de Global Bank

Nueva York, 26 de abril de 2012.- Standard & Poor’s Ratings Services asignó su calificación preliminar de ‘BBB-’ a la emisión estructurada de bonos cubiertos (covered bonds) por hasta US$200 millones bajo el Programa de Covered Bonds de Global Bank de...

English Version
Portuguese Version


Republic Of Suriname ‘BB-/B’ Ratings Affirmed, Outlook Stable

We affirmed our 'BB-/B' ratings on Suriname to reflect its improving macroeconomic fundamentals, robust medium-term growth prospects, a low debt position, and solid external indicators, offset by its narrow economic base and institutional capacity co...