SmartCompany News

Dollar hits six month high, BHP profit falls in first half: Midday Roundup

ekrieger@smartcompany.com.au (Patrick Stafford and Madeleine Heffernan) — Wed, 08 Feb 2012 01:20:00 +0000

The Australian dollar has risen to a seven-month high this morning, after a surprise decision by the Reserve Bank to leave rates on hold at 4.25%.

Telstra fixes glitch on Apple’s iMessage platform

pstafford@smartcompany.com.au (Patrick Stafford) — Wed, 08 Feb 2012 01:08:00 +0000

Telstra has confirmed it has fixed a glitch that prevented customers from receiving messages sent through the iPhone’s iMessage platform, although confused customers have spent days posting about...

Five sectors that are ruing the RBA’s decision to hold on rates

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Wed, 08 Feb 2012 00:52:17 +0000

Beyond the red faces of economists and pundits who predicted an interest rate cut yesterday, five key sectors are ruing the Reserve Bank's decision to keep rates steady at 4.25%.

Analyst gives thumbs up to new JB Hi-Fi online deals model, but concerns remain over retailer’s future

pstafford@smartcompany.com.au (Patrick Stafford) — Wed, 08 Feb 2012 00:43:56 +0000

A retail analyst has praised a move by JB Hi-Fi to include more discounted products in a "daily deals" type strategy, even though investors remain glum about the chain's outlook as it prepares to...

Visy alleges payroll officer stole $3.3 million

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Wed, 08 Feb 2012 00:39:40 +0000

Employers are warned to do thorough due diligence on employees working with company funds after packaging giant Visy succeeded in continuing a freeze on the assets of a payroll manager accused of...

Office furniture maker in administration as sector struggles

pstafford@smartcompany.com.au (Patrick Stafford) — Wed, 08 Feb 2012 00:19:30 +0000

An office furniture manufacturing and installation business has been placed in administration after the company was unable to meet supplier and financial commitments.

Amazon considers opening bricks and mortar stores: Report

pstafford@smartcompany.com.au (Patrick Stafford) — Wed, 08 Feb 2012 00:16:29 +0000

Retail giant Amazon may be exploring ways to open bricks and mortar stores, in what would represent a fundamental shift in the company's business model after remaining online for over 15 years.

RBA's decision to leave rates on hold the right call: Joye

ekrieger@smartcompany.com.au (Christopher Joye ) — Tue, 07 Feb 2012 22:41:09 +0000

So the RBA held interest rates steady at its February meeting, which is what I expected, characterising economic growth as "close to trend" and inflation "close to target". I had previously argued...

ICT start-ups dominate $10.4 million Commercialisation Australia round

ekrieger@smartcompany.com.au (Michelle Hammond ) — Tue, 07 Feb 2012 22:38:33 +0000

More than 25 businesses will share in $10.4 million in the latest round of Commercialisation Australia grants, with 11 of the winners coming from the information and communications technology sector.

The RBA can't bring down the dollar but is it ignoring the real economy? Kohler

ekrieger@smartcompany.com.au (Alan Kohler) — Tue, 07 Feb 2012 22:23:27 +0000

Keynesian purists are all clutching their foreheads, but actually it's pretty fabulous that Australia's politicians are competing with each other to promise budget surpluses: it's so much better than...

BREAKING NEWS: RBA keeps official interest rate unchanged at 4.25%

pstafford@smartcompany.com.au (Patrick Stafford) — Tue, 07 Feb 2012 03:38:49 +0000

The Reserve Bank has defied economists’ expectations by keeping the official interest rate on hold at 4.25% at its meeting this afternoon, noting modest economic recovery overseas.

Construction activity falls for 20th straight month: Midday Roundup

ekrieger@smartcompany.com.au (Madeleine Heffernan and Patrick Stafford) — Tue, 07 Feb 2012 01:15:24 +0000

Construction activity fell in January for a 20th consecutive month, according to the latest figures from the Australian Industry Group-Housing Industry Association performance of construction...

Smart money is on RBA rate cut, but expert says banks won’t pass through cut in full

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Tue, 07 Feb 2012 01:05:55 +0000

The Reserve Bank is expected to deliver its third consecutive rate cut today, but there are concerns that mortgage holders and business borrowers are unlikely to see the full cut passed through.

The 10 best Super Bowl 2012 ads

pstafford@smartcompany.com.au (Patrick Stafford) — Tue, 07 Feb 2012 01:03:57 +0000

Let’s face it – football is only one part of the Super Bowl. The advertising industry is the real darling of this event, and every year experts are keenly watching for new trends and ideas they can...

Wotif co-founder Andrew Brice invests $1 million in new health food venture

pstafford@smartcompany.com.au (Patrick Stafford) — Tue, 07 Feb 2012 00:50:53 +0000

Wotif co-founder Andrew Brice has invested $1 million in a venture that designs and produces healthy, pre-made meals for diabetics, with the entrepreneur saying he will continue to look for new...

Anti-discrimination law shake-up doesn’t cut burden on employers: Employer group

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Tue, 07 Feb 2012 00:34:45 +0000

Business groups have warned that a discussion paper on consolidating the four pieces of legislation covering anti-discrimination into one does not reduced burdens on employers.

Retailers hammered over Christmas but insolvencies won’t show up for months, experts claim

pstafford@smartcompany.com.au (Patrick Stafford) — Tue, 07 Feb 2012 00:01:21 +0000

The retail industry may have suffered a huge setback in December with trade falling by 0.1%, seasonally adjusted, but insolvency experts say it may still be many months before small businesses start...

I want to work with franchising sector: SA deputy business commissioner Frank Zumbo hits back at criticism

pstafford@smartcompany.com.au (Patrick Stafford) — Mon, 06 Feb 2012 23:41:33 +0000

The new South Australian deputy small business commissioner has defended himself against attacks from the franchising community, saying he is more than capable of performing his duties and that...

Bank fire sales of SME property assets prompt call for Senate inquiry into banking

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Mon, 06 Feb 2012 23:25:08 +0000

Nationals Senator John Williams is speaking with fellow Senators about the prospect of an inquiry into whether banks are pulling loans to small business clients including farmers, leading to assets...

Why IT could be the key to beating our productivity problems: Gottliebsen

ekrieger@smartcompany.com.au (Robert Gottliebsen) — Mon, 06 Feb 2012 22:52:31 +0000

Australian businesses and US businesses are adopting totally different strategies for the year ahead. In my view many of our chief executives are going down a dangerous path and shareholders in those...