Business

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'Ridiculous' – CBA's Yes Minister moment

Committee deputy chairman Matt Thistlethwaite puts a question to Ian Narev, Commonwealth Bank of Australia chief executive.

“It reminds me of Jim Hacker in Yes Minister visiting St Edwards, a hospital that had no patients,” an incredulous shadow minister for treasury Matt Thistlethwaite told the CBA boss Ian Narev after grilling him about an “independent” report into its life insurance division.

Department stores face uncertain future as sales shrink

David Jones, which had been performing well over the past couple of years, has hit a speed bump.

Australia's department store industry is facing the prospect of shrinking revenue in real terms over the next five years as it battles turbo-charged competition from online and offshore retailers combined with continued weak consumer sentiment.

Bosses romantic behaviour comes at a price

John Neal was fined $550,000 after not disclosing soon enough that he was in a relationship with his executive assistant.

It's hard to believe that there aren't plenty of executives around town sweating a little more profusely this week as they delete their text messages and rethink the merits of any secret romantic trysts with their staff.

Cut in penalty rates another win for 'bizonomics'

Businesses will win from penalty rate changes but will anybody else?

In Australia, micro-economic reform has degenerated into a form of rent-seeking that's saying the way to a prosperous economy is to keep business – the people who create the jobs – as happy as possible.

Why penalty rates should be sharply higher

A key reason given for the decision is to encourage employment in the hospitality industry, which is already our star ...

This is interesting: the Fair Work Commission has pretty much agreed with the Productivity Commission's recommendations on penalty rates, so penalty rates should be sharply higher for everyone on shift work.

The four great myths of Gonski

Illustration: Glen Le Lievre

It turns out Christopher Pyne was right: Julia Gillard's version of the Gonski school funding reform was indeed "Conski".

Unskilled and unable: Trump's great jobs lie

Trump has made it clear he intends to use public browbeating and threats to get companies to keep jobs in the US.

For all the turmoil marking the first weeks of President Trump, the big boot is yet to drop. That's when the angry heartland realises the factory jobs aren't coming back, whatever Trump promised.

Big W's ugly result spoils Woolies' big day

Big W  is now barely profitable with earnings falling around 89 per cent in the first half of the 2017 financial year.

As Woolworths celebrated the early signs of improvement in supermarket sales attention turned to the real elephant in the aisle - the ugly loss notched up by Big W and the continued bleeding of its sales.

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