US80¢ ‘magic spot’ for $A, says RBA’s Ridout
Reserve Bank of Australia board member Heather Ridout said the dollar must fall to a “magic spot” between US80 and 85cents, but warned that gains to the economy would only flow if the drop were matched by wage and cost restraint.
Lifestyle markets swing into auction action
Melburnians seeking a weekend retreat are expected to flock to the Mornington and Bellarine Peninsulas this weekend as lifestyle markets swing into gear.
Most top CEOs privately educated: survey
Two-thirds of the CEOs of Australia’s biggest 100 companies attended private schools – the reverse of the figure for the general population, and AFR Weekend survey has found.
SA double holiday pay: penalty rates double dip
Many employers will be forced to pay penalty rates of 250 per cent on Sunday in South Australia through a quirk in legislation from 1910 which decrees that day is officially a public holiday, along with Monday.
Bishop sees US, not China, as top economic partner
Foreign Minister Julie Bishop says the United States is Australia’s most important economic partner, overturning a widely accepted policymaking assumption embedded in Labor’s “Asian Century” strategy.
Chinese New Year boost gives businesses reason to celebrate
Abalone sales are surging in southern Australia, extra flights are about to start landing in Cairns and the Gold Coast and hotels are filling in the run-up to Chinese New Year.
Lawyers in fraud trial focus on Thomson’s state of mind
“If sex is a state of mind, then Jenna just got committed.” That’s the kicker beneath the title of “Perfect Pink”, an adult movie former federal MP Craig Thomson allegedly paid for with his union credit card.
Don’t bring politics into project selection: Albanese
Stinging criticism of the government from the outgoing head of Infrastructure Australia shows political interference in project selection is a risk again, says Opposition infrastructure spokesman Anthony Albanese.
Commission backs Tasmanian shipping law reform
The Abbott government has received a boost from the Productivity Commisision in its quest to deregulate coastal shipping laws, with a call to expedite the reforms.
Manchester City buys $11m Heart
The world’s richest football club, Manchester City, has bought underdog A-League club Melbourne Heart in a deal worth about $11 million, with City promising to inject its promotional expertise.
Welfare ‘blowout’ doesn’t add up
Welfare numbers went down as a proportion of the population over the decade, so where is the blowout?
Benefits of renewable power may not match the subsidies
The electricity market is flawed by subsidies to renewable power which fall on business users, and by power price caps.
Economy
Economists back Deegan over Infrastructure Australia reform
Deputy Prime Minister Warren Truss hit back at a stinging rebuke by the outgoing head of Infrastructure Australia, who argued the government was moving to muzzle the organisation.
Sustained lower dollar needed for education sector to benefit
Australia’s international education industry has welcomed the lower $A but warns that the fall needs to be sustained to bring major benefits.
Politics
Labor blocked damning evidence release
A Labor-dominated Senate committee blocked the release of a damning document linking Craig Thomson to a Sydney escort service that has now been made public as part of a criminal trial.
Lawyers in fraud trial focus on Thomson’s state of mind
“If sex is a state of mind, then Jenna just got committed.” That’s the kicker beneath the title of “Perfect Pink”, an adult movie former federal MP Craig Thomson allegedly paid for with his union credit card.
Education
Sustained lower dollar needed for education sector to benefit
Australia’s international education industry has welcomed the lower $A but warns that the fall needs to be sustained to bring major benefits.
Want to earn more? Study humanities
Carlyle Group co-founder David Rubenstein believes students have lost a valuable skill in business. And it comes from studying humanities.
Legal Affairs
Melbourne increases share of new partner hire
Of the 95 new law firm partners appointed in the six months to January 2, 35, or 36.8 per cent, were in Sydney, 27.4 per cent in Melbourne, 16.8 per cent in Brisbane and 10.5 per cent in Perth.
Litigators popular with law firms
The demand for litigation partners at major firms reflects a desire to rely on a stable source of revenue in a difficult market.
Arts & Saleroom
CEO’s guide to betting on films
The broad film marketing strategy is to throw the most money against the biggest blockbuster - and stand back. But many executives have lived and died by their own philosophy.
The ‘relentlessly diverting’ Wolf of Wall Street
The Wolf of Wall Street brings to life Jordan Belfort, the unscrupulous Wall Street con artist who grows rich on other people’s money.
Professional Services
Banks and large caps fight changes to leasing rules
BHP Billiton, Woolworths, Wesfarmers and the big four banks oppose plans forcing them to recognise billions of dollars of lease liabilities on their balance sheets for the first time.
Accountants expect uplift from change of government
Accounting firms expect a jump in advisory and compliance work when legislative changes begin to flow from the new federal government, but many are also hoping for an indirect lift from increased business confidence.
