World Business

 

PNG 'deal': questions over PM O'Neill's role

PNG Prime Minister Peter O'Neill

John Garnaut 9:44 PM   Two respected former PNG prime ministers have called for investigations into "possible corrupt activities" involving Prime Minister Peter O'Neill and his government's acquisition of a $1.2 billion stake in ASX-listed Oil Search, which was financed by the Australian arm of Swiss bank UBS.

Dell's record deal to buy EMC

If completed, Michael Dell's acquisition of EMC would be Dell's second big buyout in as many years.

Staff reporters 9:31 PM   Dell's move to pay over $US53 billion for EMC in the world's biggest tech merger will reinvigorate the combined conglomerate or doom them both.

How Oil Search deal found trouble in Papua

PNG Prime Minister Peter O'Neill was desperate to hold a substantial stake in Oil Search.

John Garnaut   Just how did the PNG government end up with what is arguably the most important blocking stake in corporate Australia?

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Twitter plans layoffs next week - report

Twitter co-founder Jack Dorseyis now the company's permanent CEO.

Twitter's shares fall as report says new permanent CEO Jack Dorsey plans to begin culling staff.

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Amazon gets in touch with workers' feelings

"I don't recognise this Amazon and I very much hope you don't, either," Jeff Bezos wrote to employees in August.

Spencer Soper   After a report portrayed the retailer as a place where back-stabbing is encouraged, the company is testing employee morale.

Trade pact is no big deal

Ross Gittins

Ross Gittins   The benefits and drawbacks of the TPP have been oversold.

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PNG chiefs talk of civil unrest over Australian deal

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John Garnaut   Until now, the tribal chiefs in Papua New Guinea have been happy to host a hugely profitable natural gas project on their mountainous land. 

Think China's equity bubble was scary ...

Investors fleeing the rout in Chinese stocks that erased $US5 trillion of value, might have just moved from one bubble to another.

Investors fleeing the rout in Chinese stocks that erased $US5 trillion of value, might have just moved from one bubble to another.

VW reveals second emissions software

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Danielle Ivory and Keith Bradsher   US regulators have begun an investigation into another computer program in Volkswagen's diesel cars that also affects the operation of the cars' emission controls.

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World stuck in 'mediocre' gear: IMF

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Randall Palmer and Krista Hughes   There is no room for errors in tackling major risks to global economy, top international financiers say.

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Bill Gross sues for 'hundreds of millions' payout

Gross was expecting a bonus of about $US250 million for 2014.

Mary Childs   Bond king claims greedy rivals at Pimco pushed him out as chief investment officer, making him miss out on $345 million bonus for last year.

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VW scandal: 'It's on scale of Enron'

The accusations came as VW's headquarters in Wolfsburg were raided by German police and public prosecutors.

Alan Tovey   "VW is the Lance Armstrong of the auto industry. This scandal is on the scale of Enron," says US politician as VW's US boss faces grilling.

Bill Clinton's presidency a warm-up act

Harold Mitchell.

Harold Mitchell   Armed with the world's best contact book, the former president has set about solving the world's worst problems.

Ferrari aiming for $17 billion valuation in IPO

Ferrari's coveted status as a maker of cars for the super rich is helping push up its value in an initial public offering.

Ferrari's coveted status as a maker of cars for the super rich is helping push up its value in an initial public offering.

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Amazon goes handicraft

Etsy's success has proven that a lucrative market exists for knitted socks, upscale pet furniture and a plethora of other handmade merchandise.

Hiroko Tabuchi   The e-commerce giant enters the handcrafted-goods ring, opening an arts-and-crafts bazaar online to tap a niche but growing market.

The truth about corporate ethics is still out there

VW's deception gives cynics another reason to guffaw at the idea of big business balancing profit-making with ethics and sustainability.

Chris Tomlinson   VW's deception gives cynics another reason to guffaw at the idea of mega-corporations balancing profit-making with ethics and sustainability.

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Why do extremists drive Toyotas, asks US

Toyota vehicles such as HiLux utilities have been prominent in militant Islamic propaganda.

​Toyota has spoken with US officials about the prominent use of its vehicles by militants in Syria, Iraq and Libya.

$4 trillion credit threat to global economy

With the world facing a "triad of policy challenges", the International Monetary Fund tells the Fed there's no hurry to raise rates.

Mitra Taj   As the world faces "triad of challenges", the International Monetary Fund tells the Fed there's no hurry to raise rates.

Profits at big US banks soar since GFC

Big bucks rolling in at Wall Street banks.

Profits have soared since the global financial crisis at the five biggest US banks with market-making dealing operations.

Bundesbank reveals its gold stash

Germany reveals where the gold treasure trove lies.

X marks the spot as Germany's central bank publishes a full list of all its gold holdings and where the loot is located.

VW boss warns of 'massive' cutbacks

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Elisabeth Behrmann   Volkswagen's parties featured surprise guests from Robbie Williams to Justin Timberlake, and currywurst from its in-house sausage factory. Now the music is about to stop.

'Bombshell' judgment hits internet

Max Schrems, left, and his lawyer Herwig Hofmann, right, walk in the hallway at the European Court of Justice in Luxembourg on Tuesday, Oct. 6, 2015. Europe's highest court has ruled in favor of an Austrian law student who claims a trans-Atlantic data protection agreement doesn't adequately protect consumers. (Geert Vanden Wijngaert)

Stephanie Bodoni   Europe's highest court rules in favour of Austrian law student against Facebook, plunging thousands of internet companies into a legal limbo.

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BOJ may delay extra stimulus till later this month

Shinzo Abe, Japan's prime minister

Lingering fears of recession will keep the central bank under pressure to ease at a more crucial meeting on October 30.

UN corruption probe leads to charges

John Ashe, the former ambassador to the UN for Antigua and Barbuda, is accused of taking $US1.3 million in bribes

Patricia Hurtado and Greg Farrell   A former president of the United Nations General Assembly and a billionaire Macau developer were part of a group arrested on bribery charges in what US officials call the early stages of a probe into corruption at the organisation.

Winklevoss twins get nod for bitcoin exchange

Gemini is the first licensed cryptocurrency business for Tyler and Cameron Winklevoss, best known for accusing Facebook founder Mark Zuckerberg of stealing their idea.

The brothers best known for accusing Facebook founder Mark Zuckerberg of stealing their idea have received a licence to operate a bitcoin venture.

Pacific countries agree to historic TPP trade pact

Deserves credit ... Trade Minister Andrew Robb.

Nick O'Malley   Pacific trade ministers reach a deal on the most sweeping trade liberalisation pact in a generation.

Apple and Google take top spots on global brands list

Apple

Sydney Ember   For the third consecutive year, Apple and Google top the annual Interbrand Best Global Brands report.

Deaths shine light on Wall Street culture

"They are doing it to themselves willingly because the competition is so fierce and anything they can do to stand out they are going to do," Author Kevin Roose says Wall Street workers are pushing themselves to the limit to try and herp their career prospects.

William D. Cohan   Two grieving fathers agree that the long hours young bankers feel obliged to work are a big problem.

Fallout

'You can't put a company in jail': Bernanke

Former US federal reserve chairman Ben Bernanke.

More individuals should have been prosecuted for their actions leading up to the 2008 financial crisis, says former Fed chief

Coca-Cola, McDonald's: FIFA's Blatter must go

In the cold: Sepp Blatter has been stood down by FIFA.

Tariq Panja   Top sponsors demand FIFA president has to go "immediately" to end damage to soccer's reputation.

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