Latest financial, market & economic news and analysis

Large local retailer announces plans to sell to Australians from overseas

The Just Group, which owns Just Jeans, Smiggle, Peter Alexander, Portmans and Dotti, says it needs a way around having to charge customers GST

Large local retailer announces plans to sell to Australians from overseas
Mount Gibson Iron to slash Koolan Island jobs and cut targets

Iron ore producer hit by falling global price and a sea wall collapse, forcing it to cut production targets and flag writedowns

Mount Gibson Iron to slash Koolan Island jobs and cut targets
Victorian government ordered to pay Tatts more than $540m compensation

Victoria’s court of appeal has upheld the judgment made in the supreme court, awarding compensation to Tatts and dismissing Tabcorp’s claim

Victorian government ordered to pay Tatts more than $540m compensation

- Australia's dreadful GDP figures – six things you need to know
  
  Greg Jericho
  
  With Australia’s annual economic growth rate slipping below 3%, is there any sunshine amid all the gloom?
  
  Australia's dreadful GDP figures – six things you need to know
- Clive Palmer launches attack on News Corp journalist at press club
  
  Palmer United party leader refuses to answer questions relating to legal case involving Chinese-owned Citic Pacific
  
  Clive Palmer launches attack on News Corp journalist at press club
- Black Friday scuffles: 'I got a Dyson but I don’t even know if I want it'
  
  Shoppers tell of being jostled and even stripped of their bargains as stores open at midnight offering discounts
  
  Black Friday scuffles: 'I got a Dyson but I don’t even know if I want it'
- Bondi to Bali: how Australian restaurateurs are taking over the island
  
  A clique of Australian restaurateurs are riding a tourist wave to riches in Indonesia – but business in Bali is not for the faint-hearted
  
  Bondi to Bali: how Australian restaurateurs are taking over the island
- Gender pay gap addressed by fewer than one in five firms, says report
  
  Australian ‘gender equality scorecard’ found more than a third of companies have no women in key management positions
  
  Gender pay gap addressed by fewer than one in five firms, says report
- Medibank Private shares debut at $2.22 in stock market listing
  
  Federal government raises $5.7bn from sell-off, all the money to be tipped into asset recycling fund
  
  Medibank Private shares debut at $2.22 in stock market listing
- Medibank Private share market offer exceeds expectations to raise $5.7bn
  
  Finance minister Mathias Cormann said it was appropriate ‘mums and dads across Australia’ got majority of shares
  
  Medibank Private share market offer exceeds expectations to raise $5.7bn
- Australia one of only four nations forecast to miss 2020 emissions target
  
  A UN report says Australia and just three other nations will not meet their pledge to reduce emissions by 2020
  
  Australia one of only four nations forecast to miss 2020 emissions target

JBS Australia to buy Primo Group in $1.45bn meat processing deal

Signed deal is set to leverage the Primo Group’s growing export operations across Asia, including China

JBS Australia to buy Primo Group in $1.45bn meat processing deal
Grocon subsidiary fined $250,000 for fatal wall collapse in Melbourne

Grocon Victoria Street guilty of one count of failing to ensure a safe workplace over the 2013 accident that killed three people

Grocon subsidiary fined $250,000 for fatal wall collapse in Melbourne
Pacific Brands sells Volley, Clarks and Hush Puppies to equity firm

Clothing and textiles company will focus on its leading businesses: Bonds underwear and Sheridan manchester

Pacific Brands sells Volley, Clarks and Hush Puppies to equity firm
Slow wage rises show Australia's industrial relations system is working

Greg Jericho

Business leaders show little gratitude for wage restraint and productivity increases under our IR system, preferring instead to believe there is some magic fairy of greater competitiveness

Slow wage rises show Australia's industrial relations system is working
Jetstar Hong Kong selling planes as it struggles to get off the ground

Qantas venture also losing pilots as regulators holding back its licence, apparently due to opposition from Cathay Pacific

Jetstar Hong Kong selling planes as it struggles to get off the ground
China drops barriers on Australian dairy, wine and beef in free trade deal

Agreement also opens China’s services sector to Australian businesses, but fails to reduce tariffs on other agricultural commodities including rice, wheat, cotton, sugar and oilseeds

China drops barriers on Australian dairy, wine and beef in free trade deal
Steve Albini: the internet has solved the problem with music

The man who produced Nirvana, Pixies and wrote the 1993 essay, The Problem with Music, has always been an industry outsider. In 2014, it’s his optimism that sets him apart

Steve Albini: the internet has solved the problem with music
The Weekly Beast: the ABC is no longer taking care of business

The ABC is pulling out of business coverage with the end of Ticky Fullerton’s The Business, while tempers flare at 7.30 over a skit that fell flat, writes Amanda Meade

The Weekly Beast: the ABC is no longer taking care of business
Japan drops into recession

Shrinking of economy surprises analysts and spells trouble for Shinzo Abe, who is expected to call election for next month

Japan drops into recession

Budget deficit blown out by terms of trade? Yes, but it's not the full story

Greg Jericho

Falling iron ore prices are the immediate culprit but a longer-term analysis must focus on labour productivity and participation

Budget deficit blown out by terms of trade? Yes, but it's not the full story
- Now is not a good time for the housing construction boom to end
  
  Greg Jericho
  
  With home building figures stalled, unemployment high and mining investment in freefall due to falling commodity prices, Australia’s transition economy remains a work in progress. So what is the Reserve Bank’s next move?
  
  Now is not a good time for the housing construction boom to end
- Victoria's poor economic results: is it too late for Denis Napthine?
  
  Greg Jericho
  
  The state’s economy has limped along in the past year, GSP per capita going backwards and employment growth a lousy 0.2%
  
  Victoria's poor economic results: is it too late for Denis Napthine?
- Why isn't the government being held to account on the China free trade deal?
  
  Greg Jericho
  
  Based on old and irrelevant modelling, the figure trumpeted as ‘extra revenue’ is reported as fact, rather than properly questioned
  
  Why isn't the government being held to account on the China free trade deal?

Slow wage rises show Australia's industrial relations system is working

Greg Jericho

Business leaders show little gratitude for wage restraint and productivity increases under our IR system, preferring instead to believe there is some magic fairy of greater competitiveness

Slow wage rises show Australia's industrial relations system is working
Sydney’s house prices race up, but homeowners aren’t feeling any richer

Greg Jericho

Prices have surged 31.9% since 2011, but the boom this time hasn’t flowed on to household spending

Sydney’s house prices race up, but homeowners aren’t feeling any richer
If you thought Australia's economy was just barely chugging along – you were right

Greg Jericho

The transition from the mining boom is occurring at the same time the baby boomers are transitioning to retirement. We have a smaller percentage of the population working than in the past

If you thought Australia's economy was just barely chugging along – you were right
Big Four banks' profits soar but don’t expect any gratitude for taxpayer help

Australia avoided the EU and US bank meltdowns thanks in part to government regulation and deposit guarantees, but now a recommendation to raise capital ratios is being fiercely resisted

Big Four banks' profits soar but don’t expect any gratitude for taxpayer help
Cost of living: an interest rate rise could turn up the political heat

For the past few years the political fight over the cost of living has been focused on power prices and the carbon tax, but if the Reserve Bank decides to lift rates it will have a far greater impact, writes Greg Jericho

Cost of living: an interest rate rise could turn up the political heat
Tony Abbott’s call for GST reform smacks of hypocrisy

Greg Jericho

The government would have us believe they would redress any social burdens resulting from a change in the GST

Tony Abbott’s call for GST reform smacks of hypocrisy
Iron ore is wreaking havoc on WA. Welcome to capitalism, Colin Barnett

Greg Jericho

Collapsing iron ore prices are set to smash the Western Australian budget. But the premier can’t blame the miners when the state’s forecasts were too high

Iron ore is wreaking havoc on WA. Welcome to capitalism, Colin Barnett
The LNG boom will push gas prices up - is the economic boost worth the cost?

Greg Jericho

While standard theory suggests the Australian LNG boom will be a win for our economy, the reality suggests the benefits may not be as big – or evenly shared – as might be hoped

The LNG boom will push gas prices up - is the economic boost worth the cost?
Is Australia destined to be dragged down by Europe's economic malaise?

Greg Jericho

The EU economy is roughly the same size as the United States. When something that big hits the wall, it has reverberations

Is Australia destined to be dragged down by Europe's economic malaise?
The casualisation of Australia’s workforce is nothing to panic about

Greg Jericho

Research suggests that a sizeable proportion of people working on a freelancers and casual basis are doing so out of choice

The casualisation of Australia’s workforce is nothing to panic about
Whichever way you cut it, the federal budget hurts the poorest hardest

Greg Jericho

The study by the National Centre for Social and Economic Modelling found that in this financial year, 99.8% of households are worse off after the budget

Whichever way you cut it, the federal budget hurts the poorest hardest
Beyond the headlines about economic growth it's not all gloom and doom

Greg Jericho

IMF cutting projections for 2015 world GDP growth from 4.0% to 3.85% is more of a reversion to previous expectations

Beyond the headlines about economic growth it's not all gloom and doom
Time for another infrastructure push? Just don’t let politicians choose the projects

Greg Jericho

Infrastructure Australia’s project reviews ensure a robust estimate of costs and benefits. Unfortunately, there has been no assessment of the East West Link

Time for another infrastructure push? Just don’t let politicians choose the projects
Reserving gas for domestic users would hurt the renewable energy industry

Greg Jericho

The ‘reserve our gas’ campaign may have populist appeal, but if it were successful it would only have a marginal impact on gas prices in Australia

Reserving gas for domestic users would hurt the renewable energy industry
The tough fight for jobs is not getting easier – and a turnaround is unlikely

Greg Jericho

The ABS job vacancy figures aren’t terrible, but they offer little comfort for the 764,000 Australians without work

The tough fight for jobs is not getting easier – and a turnaround is unlikely

Qantas Jetstar Hong Kong selling planes as it struggles to get off the ground

Qantas venture also losing pilots as regulators holding back its licence, apparently due to opposition from Cathay Pacific

Jetstar Hong Kong selling planes as it struggles to get off the ground
BHP Unilever gains as it forms standalone spreads business

Flora division to get separate management to counter tough markets as consumers shun spreads

Unilever gains as it forms standalone spreads business
Coles Alice Waters: supermarkets steal our language, but not our links with food

The woman who launched the US farmers market movement is in Australia to stir things up ahead of the G20, with supermarket monopolies, fancy chefs and school meals in her sights

Alice Waters: supermarkets steal our language, but not our links with food
Telstra Google to test-fly balloons which transmit internet over Australia

Company to team up with Telstra to fly 20 balloons over western Queensland in project designed to help connect remote regions of the world

Google to test-fly balloons which transmit internet over Australia

Currency wars bode ill for the world economy

Nouriel Roubini

Nouriel Roubini: Monetary policy has borne the burden of supporting faltering growth via weaker currencies and higher net exports

Currency wars bode ill for the world economy
Helge Lund’s golden hello has lost some of its sparkle. Rightly so

Nils Pratley

BG’s board should have realised the original policy-busting deal would have triggered a shareholder rebellion

Helge Lund’s golden hello has lost some of its sparkle. Rightly so
- Why the collapse in the Russian rouble matters to the global economy
  
  Larry Elliott, economics editor
  
  Larry Elliott: The Russian central bank is right to intervene to stop the toxic Russian currency falling further
  
  Why the collapse in the Russian rouble matters to the global economy
- Chancellor, it’s time to put more money where the makers are
  
  Business leader: The UK still lags behind the OECD for spending on R&D. If our industrial sector is to grow, it must be nurtured with more funding
  
  Chancellor, it’s time to put more money where the makers are
- Helge Lund should be offered less; he might say yes
  
  Nils Pratley
  
  Nils Pratley: If Lund waived BG’s £12m golden hello, he could still earn up to £14m a year – not bad, even by the standards of big UK oil companies
  
  Helge Lund should be offered less; he might say yes

The Opec oil price still matters (just not as much as before)

The oil cartel has been weakened by non-cartel producers and alternative energy sources such as shale

The Opec oil price still matters (just not as much as before)
Forget what central bankers say: deflation is the real monster

Katie Allen

Katie Allen: The ECB is eager to warn teenagers about inflation. But as price growth slows, that looks like yesterday’s scare story

Forget what central bankers say: deflation is the real monster
If we build new roads and railways, the economic returns will come

Larry Elliott

Larry Elliott: George Osborne talks of investing in transport to carry people out of poverty, but the money has to be made available, and not just in the south-east

If we build new roads and railways, the economic returns will come
Pubs: time, please, for the ties that bind

Nils Pratley

The death of the beer tie – if it happens – seems an intelligent way to proceed, whatever the uncertainties

Pubs: time, please, for the ties that bind
RBS’s IT woes are not simply down to lack of investment

Inadequate risk management caused problems that led to Royal Bank of Scotland being fined £56m for its 2012 IT cock-up

RBS’s IT woes are not simply down to lack of investment
Creativity, companies, and the wisdom of crowds

Robert Shiller

We need economic institutions that somehow promote the concerted creative actions of a wide swath of the world’s people, writes Robert Shiller

Creativity, companies, and the wisdom of crowds
Oil and gold price plunge does not signal a global recession, experts say

In a rare phenomenon, the prices of completely unrelated commodities are falling. Is another global recession coming? Not quite

Oil and gold price plunge does not signal a global recession, experts say
Some reasons why Pfizer won’t bid for AstraZeneca again

Nils Pratley

Nils Pratley: Anything is possible in a pharma-land still gripped by deal-fever, but it’s odds against a repeat attempt by the US company

Some reasons why Pfizer won’t bid for AstraZeneca again
Why early-stage investing works for people and technology

Lucy P. Marcus

The temptation to cut long-term investment in economic hard times stalks the private and public spheres, writes Lucy P. Marcus

Why early-stage investing works for people and technology
Slow wage rises show Australia's industrial relations system is working

Greg Jericho

Business leaders show little gratitude for wage restraint and productivity increases under our IR system, preferring instead to believe there is some magic fairy of greater competitiveness

Slow wage rises show Australia's industrial relations system is working

RBS gives 10 executives £5.5m in allowances to sidestep EU bonus cap

Disclosure by the 80% taxpayer-owned bank shows the 10 received £1.9m of these allowances for the last four months of 2014

RBS gives 10 executives £5.5m in allowances to sidestep EU bonus cap
Tesco chief Dave Lewis still to reveal hand after 100 days

Analysts await next move to turn around ailing supermarket chain and expect gloomy trading update in January

Tesco chief Dave Lewis still to reveal hand after 100 days
- TalkTalk customers hit by India-based scam calls prompting fears of data leak
  
  More than 100 customers say they’ve been contacted by callers quoting their personal details
  
  TalkTalk customers hit by India-based scam calls prompting fears of data leak
- US employment report smashes forecasts with 321,000 new jobs created
  
  All the latest business and economic news, as the US Non-Farm Payroll shows the biggest monthly increase in almost three years
  
  US employment report smashes forecasts with 321,000 new jobs created
- Lower Primark sales in warm autumn fail to hit AB Foods’ expectations
  
  Discount clothing store’s overall sales remain higher than a year ago because of the rapid expansion of the chain
  
  Lower Primark sales in warm autumn fail to hit AB Foods’ expectations

Three ex-Icap brokers plead not guilty to Libor rigging charges

Trio will likely stand trial alongside two other former brokers who pleaded not guilty to similar charges last year

Three ex-Icap brokers plead not guilty to Libor rigging charges
Hornby to sell James Bond Spectre merchandise

Toymaker has won the international licence to sell Corgi and Scalextric-branded James Bond products ahead of the release of Spectre next year

Hornby to sell James Bond Spectre merchandise
DJ Rekha: turning 'cab driver music' into a viable business

The entrepreneur and immigrant is a woman in her 40s in a business that favors young men, but she shrugs it off: ‘Anything with power, guys are there first’

DJ Rekha: turning 'cab driver music' into a viable business
US jobs report beats forecasts as 321,000 positions added in November

Unemployment rate stays at 5.9% and 9 million still out of work as Thanksgiving storms appear not to have hampered figures

US jobs report beats forecasts as 321,000 positions added in November
EasyJet CEO Carolyn McCall received more than £7m last year

Carolyn McCall’s £665,000 salary, £1.15m annual bonus and £5.9m share award reflects performance and profits, says firm

EasyJet CEO Carolyn McCall received more than £7m last year
Clothes retailer Bebe suffers data hack during busy Thanksgiving shopping period

Women’s clothing chain ‘moved quickly to block attack’ in which cardholder names, account numbers and verification codes may have been exposed

Clothes retailer Bebe suffers data hack during busy Thanksgiving shopping period
Latest Qatari bid still too low, says Canary Wharf owner

Songbird investors have two months to consider £2.6bn cash bid from Qatar Investment Authority (QIA) and Brookfield

Latest Qatari bid still too low, says Canary Wharf owner
Fury over Premier Foods ‘pay to stay’ scheme

Suppliers say Ambrosia custard maker requested hefty payments in order to continue doing business with them

Fury over Premier Foods ‘pay to stay’ scheme
British workers suffer biggest real-wage fall of major G20 countries

International Labour Organisation finds in three years to 2013 UK wages fared worse than most of the eurozone’s crisis hit economies

British workers suffer biggest real-wage fall of major G20 countries
Balfour Beatty turns down £1bn bid for its PPP portfolio

Construction company says public-private partnership business worth far more than offer from John Laing Infrastructure Fund

Balfour Beatty turns down £1bn bid for its PPP portfolio
Slowdown in construction increases chances of new year rate cuts

Building industry activity slowed in November, new survey shows, as Westpac changes tack and forecasts cheaper borrowing

Slowdown in construction increases chances of new year rate cuts
Soap opera shows the ECB’s weakness

Nils Pratley: Behind the verbal gymnastics, the eurozone economy sinks to its knees.

Soap opera shows the ECB’s weakness
North Sea oil exploration to be allocated taxpayers’ money

Financial support for seismic surveys welcomed by oil industry but criticised by environmental campaigners

North Sea oil exploration to be allocated taxpayers’ money
Ferguson business owners say business is down 50% as they rebuild

A week after riots and unrest in Ferguson, small business owners with destroyed property find themselves at the center of the city’s attempts to move on

Ferguson business owners say business is down 50% as they rebuild

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