World Business

 

The top-rated CEO you haven't heard of

Current and former Bain employees gave CEO Bob Bechek an approval rating of 99 per cent.

Jena McGregor 2:10 PM   His staff gave him an approval rating of 99 per cent, but this year's highest-rated CEO has a far lower profile than previous winners such as Mark Zuckerberg or Larry Page.

Ralph Lauren wants to be more like H&M;

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Kim Bhasin 9:48 AM   Facing a sales slump, the nearly 50-year-old brand known for its polo shirts will focus on its bestsellers and try to learn from the fast-fashion retailer.

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Lobbyist jailed for extorting Redflex

John Raphael was hired by Redflex from 2005 to 2013 to seek and obtain lucrative red light contracts in the state's ...

9:27 AM   A lobbyist has been sentenced to 15 months' federal prison in the US for extorting political campaign contributions from Australian red light camera company Redflex.

The tax havens costing Australia $6b a year

There are tricks available to multinational corporations to reduce their tax bills, Oxfam's report says.

Nassim Khadem 12:01 AM   The world's poorest people, and women in particular, bear the brunt of global tax dodging, says Oxfam.

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Is the annual raise on the way out?

Touching sacred cows: Jeff Immelt, the chief executive of General Electric.

Jeff Green and Richard Clough   General Electric is the laboratory of corporate management. As the US manufacturing giant is rethinking a bedrock tradition of corporate life, C-suites around the world will be watching closely.

Lipstick advice from Warren Buffett

Here's what you to do tomorrow morning when you look in the mirror, according to Warren Buffett.

Jonathan Stempel   It's not just about satisfying your customers. Look in the mirror - and at Amazon boss Jeff Bezos, says the billionaire investor.

Ultra-rich will see fortunes soaring

By 2020, millionaires will control more than half of the world's wealth, BCG predicts.

Giles Broom   By 2020, millionaires will control more than half of the world's wealth as their fortunes grow faster than everyone else's, global report predicts.

Burberry CEO takes 75% pay cut

Burberry chief Christopher Bailey saw his pay packet dwindle as the luxury label struggled for growth.

Andrew Roberts   Burberry's embattled chief Christopher Bailey took a 75 per cent pay cut last year as the UK's largest luxury-goods maker struggled for growth.

Playboy mansion sells for more than $US100m

Hugh Hefner will continue to live in the Playboy Mansion.

Prashant Gopal   The Playboy Mansion is under contract for more than $100 million. The buyer: a 32-year-old son of a billionaire who already owns the property next door.

ALS defends quick rejection of takeover bid

ALS boss Greg Kilmister has dismissed a takeover offer from private equity.

Brian Robins   ALS has defended its brusque rejection of the $2.7 billion takeover offer received last week from private equity bidders.

Why not just give money to everyone?

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ABLE TO BE REUSED BY FAIRFAX MASTHEADS INCLUDING ONLINE
ROYALTY FREE IMAGE from ...

Eduardo Porter   Ditch wages, and pay every citizen a universal basic income: It's one of those idea that the longer you look at it, the less enthusiastic you become.

Starbucks teams with beer maker

Starbucks is ramping up its efforts to market products other than coffee.

Hadley Malcolm   Starbucks and beer maker Anheuser-Busch are teaming up to produce a bottled version of the coffee company's Teavana tea.

EU throws support behind Uber, Airbnb

The guidelines were welcomed by Airbnb, which called them "a valuable tool to ensure a clear, stable and consistent ...

EU throws weight behind the "sharing economy", saying governments should only ban services such as ride-hailing app Uber and Airbnb as a last resort.

Uber leads blessing of private unicorns

Uber boss Travis Kalanick balks at going public: "I'm going to make sure it happens as late as possible."

Adam Satariano   Once upon a time, startups aspired to high-profile sharemarket floats to cash in and expand. Uber has no need for such traditions.

Graeme Hart's car-parts business bankrupt

Self-made billionaire Graeme Hart likes to keep a low public profile.

Steven Church   New Zealand billionaire Graeme Hart's car-parts maker UCI International has filed for bankruptcy after losing business from three of its biggest customers.

Uber taps Saudi Arabia for cash

More than 300 Uber drivers have been fined since April 27.

Mike Isaac and Michael J. de la Merced   In its quest to build a global empire, Uber has turned to the Middle East for a $4.8 billion cash infusion.

Billionaire's fortune drops from $4.5b to zilch

Elizabeth Holmes, founder of blood test start-up Theranos, is now worth nothing, according to Forbes.

Patrick Hatch   Elizabeth Holmes, whose plan to revolutionise healthcare made her a darling of the start-up world and a billionaire at age 30, has a jaw-dropping new net worth: zilch.

Banker arrested for insider tips to plumber

Turning on the tap: Steven McClatchey's plumber made a six-figure windfall thanks to the trading tips. In return, he ...

Bob Van Voris   Former Barclays director Steven McClatchey accused of telling his plumber friend about future company deals in exchange for cash and a new bathroom.

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France rules out Google tax deal

France's Finance Minister Michel Sapin says there may be other cases.

France will "go all the way" to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald's were targeted by tax raids.

Fed to raise rates 'in coming months'

US Fed chair Janet Yellen is preparing the market for higher rates.

Binyamin Appelbaum   The US Federal Reserve chairwoman has reinforced a recent effort by central bank officials to prepare investors for higher borrowing costs.

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Protect whistleblowers, then pay them

Bradley Birkenfeld, a former banker, received $104 million from the US Treasury for exposing a multi-billion dollar tax ...

Nassim Khadem   The Panama Papers, Swiss Leaks and Lux Leaks highlighted the fragmented and limited protection offered.

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We've seen the Trump phenomenon before

Versions of Donald Trump and the kind of politics he represents have been popping up around the globe in a rise of ...

Eduardo Porter   Look around the advanced market democracies: Versions of Donald Trump and the kind of politics he represents have been popping up in a global rise of protectionism.

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Is North Korea behind bank attacks?

FILE - In this Oct. 10, 2015, file photo, North Korean leader Kim Jong Un delivers remarks at a military parade in ...

Nicole Perlroth and Michael Corkery   It would be the first known case of a nation using digital attacks to boost its coffers.

Man U, Real Madrid soccer's most valuable

Manchester United is worth €2.9 billion ($4.5 billion), KPMG says, giving the club the same value as Real Madrid.

Tariq Panja   Manchester United's fifth place finish in the English Premier League may have gotten its manager fired, but the team's bottom line is just fine.

Sugar shortage halts Coke production

The iconic drink is the latest to join a group of basic products becoming scarce in a country beset by currency ...

Andrea Navarro and Jennifer Kaplan   Sugar is so scarce in Venezuela that Coca-Cola has been forced to stop production of the iconic drink in the country.

Investment banks in worst Q1 since GFC

Trading in fixed income, currencies and commodities for the world's biggest investment banks, including Goldman Sachs, ...

Anjuli Davies   Worried about the global economy? Goldman Sachs, Deutsche Bank and 10 other big banks have now posted the worst first-quarter results since the GFC.

Modi's shuttle blasts into Musk's space race

An artist rendering of India's Reusable Launch Vehicle (RLV) spacecraft.

Anurag Kotoky and Ganesh Nagarajan   India is launching a scale model of a reusable spacecraft on Monday to make space travel cheaper.

'We'd fight over who'd get to be Captain Kirk'

There is a connection between Mr Spock (played by the late Leonard Nimoy) and the first search for extraterrestrial ...

Brian Fung   Amazon boss Jeff Bezos isn't just a "Star Trek" nerd. He's a giant, epic, subspace anomaly of a "Star Trek" nerd with his own space travel company.

Codeword: 'Dallas Cowboys'

Phil Mickelson said he reached an agreement with the market regulator to return proceeds of nearly $US1 million ($1.4 ...

David Voreacos   What began with a friendship forged over gambling, golf and business turned into a six-year insider-trading plot involving one of the world's most beloved golfers, Phil Mickelson.

Facebook has no liberal-leaning bias: Zuckerberg

"I wanted to hear their concerns personally and have an open conversation about how we can build trust," said Facebook ...

Sarah Frier and Jennifer Jacobs   Facebook chief executive Mark Zuckerberg met with political conservatives to explain how the social network comes up with its trending news topics, seeking to quell concerns that liberal-leaning news and sources were favoured by the company's editors.