Today's News & Views

 

The value of performance reviews

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6:42 PM   While a small company like hers could choose not to conduct performance reviews, Mary Brittain-White of Retriever Communications thinks they have a place.

The trouble with Chapel Street

Dimitria Papafotiou opened her DIIDA boutique on Chapel Street after spending time researching several retail strips.

Melissa Singer 6:03 PM   After being in a slump for several years, a new breed of fashion and lifestyle retailers is aiming to make Chapel Street great again.

Not everyone a winner under Qantas' new fee regime

Qantas

Esther Han 1:40 PM   Qantas has overhauled its card payment fees following the Reserve Bank's move to curb excessive surcharges. But are they any good?

CBD

Baird's budget not going to the dogs

Tabcorp is predicting a lot of the money currently being bet on the dogs will migrate to "other wagering product".

Colin Kruger, CBD 10:16 AM   The NSW Premier is betting his greyhound racing ban won't put a sizable dent in the billions his government collects from the gambling industry.

S&P; 500 at record's door

The S&P 500 closed Friday at 2,129.90, up 1.3 per cent for the holiday-shortened stretch.

Anna-Louise Jackson 9:59 AM   That US stocks were able to erase their Brexit trauma was impressive enough. That they did it on a day bonds yields were flirting with all-time lows was unprecedented.

IRS takes Facebook to court

Facebook disclosed the IRS was examining its taxes for 2008 through 2013.

Lynnley Browning, Kartikay Mehrotra 9:17 AM   Federal tax officials have sought a court order demanding internal corporate records related to one of Facebook's offshore tax strategies.

Telstra cuts hundreds of jobs

Telstra will axe 140 jobs in Melbourne and close a Perth call centre.

Lucy Battersby and Nick Toscano 7:36 AM   Telstra has sacked hundreds of customer service and management staff from its call centres around the country and will offshore more work to the Philippines.

Comments 163

Fed to hold despite jobs surge, says Gross

Futures markets indicate there is less than a 10 per cent chance the central bank will raise short-term interest rates ...

Charles Stein 6:41 AM   "I think the Fed stays where it is," said Bill Gross in an interview Friday on Bloomberg Television.

S&P; 500 approaches all-time high

The S&P 500 has spent 286 days trading without making a fresh record, the longest stretch outside a bear market since a ...

6:30 AM   US stocks are on the brink of ending their longest drought of the bull market.

UK property funds solidly frozen

As much as £5 billion of property could ultimately be offered to meet the withdrawal requests, Mike Prew, an analyst at ...

Jack Sidders 6:07 AM   For investors wanting to get their money out of seven UK property funds, patience will be required.

German bonds rally for seventh week

ECB officials, led by president Mario Draghi, first announced their intention to start QE in January 2015.

Anooja Debnath 5:50 AM   German government bonds completed their longest run of weekly advances since January 2015.

European equities lift on Italian banks

Fiat Chrysler Automobiles and Renault jumped more than 5.7 per cent after data showed China's car sales grew faster in ...

Aleksandra Gjorgievska 5:36 AM   In a broad rally, the Stoxx Europe 600 gained on Friday, trimming its weekly decline to 1.5pc.

Look for higher short-term yields, El-Erian

To create the conditions for brighter prospects for growth, prosperity and income distribution, the economy will need ...

Mohamed A. El-Erian 4:17 AM   The June payrolls data offers a reassuring assessment of the US labour market.

US payrolls expand by 287,000 in June

The welcome report on Friday showed the largest single monthly job gains since October 2015. The three-month average of ...

Patricia Cohen 3:51 AM   The US economy added an unexpected 287,000 jobs in June, and average hourly earnings edged higher.

Ditching performance reviews backfires: study

Herbert Smith Freehills HR Manager Andrea Bell.

Anna Patty 1:07 AM   They may be unpopular, but getting rid of performance reviews leads to lower productivity, a study has found.

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H&M; inks tax deal

H&M's empire spans more than 4000 stores across 62 countries.

Madeleine Heffernan 12:32 AM   Fast-fashion retailer is one of a growing number of multinationals locking in their Australian tax.

ASIC assignment of investigators 'like sending a child to Hunger Games'

Adele Ferguson dinkus

Adele Ferguson 12:15 AM   If the corporate regulator wants to be known as the tough cop on the beat, it needs to do a lot better.

Comments 11

Statement of claim shows NAB's concern over rate rig

NAB is the third of the big four banks to be sued over alleged manipulation of bank bill swap rates.

Sarah Danckert and Clancy Yeates 12:15 AM   A National Australian Bank trader allegedly rigged the bank bill swap to the detriment of his colleagues.

Morgans upgrades SEEK to 'add'

Brothers Andrew and Paul Basset from SEEK in their Melbourne office.

Lucy Battersby 7:24 PM   Morgans has upgraded its view of online job-advertisement site SEEK from a "hold" to "add" with a target price of $16.89.

BHP heading for the Finnish line

Jacqui McGill at BHP Billiton's Olympic Dam copper mine. The company is headed to Finland in September for the next ...

Simon Evans   BHP Billiton is headed to Finland for the next crucial stage of its heap leach testing to allow a potential doubling of production from the massive Olympic Dam copper mine.

Man with no plan, just a lot of flimflam

Ross Gittins

Ross Gittins 12:15 AM   Much talked-up pledge to generate 'jobs and growth' was a scheme to cut company tax plus a lot of fancy packaging.

Comments 75

What's a AAA credit rating and does it matter?

The cost of a credit rating downgrade is hard to quantify.

Jonathan Shapiro and Clancy Yeates   What is this rating, where does it come from and does it matter? Your AAA-rating questions answered.

Comments 66

Aboriginal corp 'defrauded' of $475k

Uncle Bryon Powell stood down as chair of the Wathaurung Aboriginal Corporation earlier this year.

Sarah Danckert 12:15 AM   As smoke billowed from the corroboree in Ballarat few were aware of the deep strife afflicting the indigenous corporation behind the event.

Dick Smith top brass to cop grilling in court

Under the microscope: former Dick Smith executives and managers are  to be grilled in court.

Madeleine Heffernan   Receivers to grill 10 former executives and managers of failed electronics chain.

Are cold and flu-fighting vitamins a waste of money?

Sick Australians flock to stock up on vitamins, but there is disagreement over whether they help.

Patrick Hatch 12:15 AM   Consumer suffering from colds and the flu are spending millions of dollars on vitamins which some experts say will likely do nothing.

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What happens when a CSG well is plugged? Not much

Regulators say they're not walking away from monitoring decommissioned CSG wells.

Peter Hannam   NSW regulators do not routinely test coal seam gas wells after they have been plugged and abandoned, relying instead on ''technical reports'' by the companies that the wells pose no threat.

Mixed week for ASX, banks weigh heavily

Global risk sentiment remains volatile as government still isn't formed.

Jessica Sier   Investors swung between a risk-on and risk-off sentiment throughout the week, closing the week cautiously eyeing impending US jobs data.

Ratings agency puts Parliament on notice

Standard and Poor's says the time to act is now or suffer the consequences.

Nicole Hasham   The next Australian parliament has been put on notice: get your act together and fix the budget now, or expect a serious hit to the nation's credit status.

Markets Live: ASX posts weekly fall

A 5 per cent fall in oil prices overnight is expected to weigh on the ASX.

Vanessa Desloires   Shares have closed slightly higher ahead of crucial US payroll data.

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Post-Brexit unease grows as British funds block withdrawals

The Bank of England has expressed concern about the surge in open-ended funds.

Landon Thomas Jr   The refusal of six asset management firms to allow investor withdrawals is creating a nightmare scenario for global markets.