Economy

Why Australia has to go to war

24 May 2012 | George Friedman

PRINT: 24 May 2012 | PAGE 3 | Why Australia has to go to war

It all comes down to trade and access to sea lanes.

Intellectual property taxes experts

24 May 2012 | Geoff Gill

PRINT: 24 May 2012 | PAGE 2 | Intellectual property taxes experts

Debate about how much tax technology companies pay in Australia has drawn attention to Australia’s transfer-pricing laws and their implications for multinational corporations.

Parents are responsible

24 May 2012 |

PRINT: 24 May 2012 | PAGE 67 | Parents are responsible

In “Parental Spending” (Letters, May 18), Chris Riley criticised the federal government for its decision to replace the education tax rebate with the Schoolkids Bonus. He suggested that parents will spend the bonus irresponsibly and called for “accountability” in how it is spent at the time of distribution.

Real cost of euro crisis is human

24 May 2012 |

PRINT: 24 May 2012 | PAGE 67 | Real cost of euro crisis is human

Chanticleer’s article (“If Greece goes under”, May 19-20) is sycophantic nonsense and to quote Mr Dallara is like asking a drug addict’s advice on the heroin market.

See green future or be left behind

24 May 2012 | Peter Roberts

PRINT: 24 May 2012 | PAGE 2 | See a green future or be left in the past

Roberts | Australia’s carbon Canutes are in a minority among global businesses that have already come to terms with schemes such as in Europe.

The West goes to HK to coax appetites from handbags

24 May 2012 | Katrina Strickland

PRINT: 24 May 2012 | PAGE 1 | Coaxing appetites from handbags

Pace Gallery founder and owner Arne Glimcher popped in to see Emmanuel Perrotin at the French dealer’s new Hong Kong gallery last week. The New York-based Glimcher had a word of advice for Perrotin: when it comes to contemporary art, the Chinese mostly want to buy Chinese.

US mall owner moving into consumer-mad China

24 May 2012 | Brian Louis

PRINT: 24 May 2012 | PAGE 63 | US mall owner moving into consumer-mad China

Taubman Centers, the US luxury mall owner, is close to announcing its first retail investment in China, chairman and chief executive Robert Taubman says.

Mainland shoppers fuel HK retail rents

24 May 2012 | Kelvin Wong

PRINT: 24 May 2012 | PAGE 3 | Mainland shoppers fuel HK retail rents

Russell Street in Causeway Bay trails only New York’s Fifth Avenue in terms of average retail rents, fuelled by mainland Chinese shoppers seeking tax-free Gucci handbags and Rolex watches.

‘Super strong’ UK growth for LaSalle

24 May 2012 | Simon Packard

PRINT: 24 May 2012 | PAGE 62 | ‘Super strong’ UK growth for LaSalle

LaSalle Investment Management, owned by the world’s second-largest property broker, may become the most active provider of subordinated debt for UK commercial real estate this year as banks scale back lending.

Business drives CBD hotel makeovers

24 May 2012 | Ainslie Chandler

PRINT: 24 May 2012 | PAGE 2 | Business drives CBD hotel makeovers

About 40 per cent of Australia’s premium hotels have undergone, or are about to undergo, major facelifts, as owners aim to capitalise on strong demand for rooms in central locations.

Blackstone buys Motel 6 chain from Accor

24 May 2012 | Simon Packard

PRINT: 24 May 2012 | PAGE 3 | Accor offloads Motel 6

Blackstone Group, the New York-based private-equity group that manages $US48 billion in real estate assets, has agreed to buy the Motel 6 lodging chain from Accor for $US1.9 billion, adding to its hospitality holdings

Kath & Kim, start spending again – fast

24 May 2012 | Geoff Winestock

PRINT: 24 May 2012 | PAGE 2 | Kath & Kim, start spending again – fast

If only comedy duo Kath and Kim were real people. Their spending at the soon-to-be revamped Myer Fountain Gate store in outer south-west Melbourne might be enough to turn the ailing department store’s fortunes around.

Reluctant Greece will be hard to evict

24 May 2012 | David Bassanese

PRINT: 24 May 2012 | PAGE 3 | Reluctant Greece will be hard to evict

When push comes to shove, I still doubt that a “Grexit” – or Greece leaving the Euro zone – is the most likely scenario in the next few months..

Nothing is likely to save the day for shares

24 May 2012 | Philip Baker

PRINT: 24 May 2012 | PAGE 4 | Nothing is likely to save the day

Looks like the sharemarket is poised to complete a hat trick. About this time in 2010 shares fell 15 per cent and in 2011 it was 20 per cent. So far this month the major index is down more than 8 per cent from its high.

Ford reclaims its heritage, logo and all

24 May 2012 | Bill Vlasic

PRINT: 24 May 2012 | PAGE 30 | Ford reclaims its heritage

The blue oval is back home. The Ford Motor Company received a second investment-grade rating on Tuesday, allowing the car maker to reclaim assets – including the iconic logo – that it pledged as collateral in 2006.

Indonesian growth set for 6pc

24 May 2012 | Stephanie Phang

PRINT: 24 May 2012 | PAGE 3 | Indonesian growth 6pc

Indonesia should be ready to tighten monetary policy if inflationary pressures emerge as investment and exports keep growth at about 6 per cent, according to the Organisation for Economic Co-operation and Development.

Gap widens as Japanese exports rise just 7.9pc

24 May 2012 | Andy Sharp

PRINT: 24 May 2012 | PAGE 3 | Gap widens as Japanese exports rise just 7.9pc

Japan’s exports rose a less than estimated 7.9 per cent in April from a year earlier, underscoring the risk that weakness in global demand may limit the rebound in the world’s third biggest economy.

East Asia ‘vulnerable’ to euro crisis

24 May 2012 | Karl Lester Yap

PRINT: 24 May 2012 | PAGE 3 | East Asia ‘vulnerable’ to euro crisis

The World Bank says policymakers in Asia’s emerging economies must guard against inflation risks and be prepared to reverse policy easing.

US home sales begin to recover

24 May 2012 | Shobhana Chandra

PRINT: 24 May 2012 | PAGE 1 | US home sales begin to recover

Sales of existing U.S. homes rose in April, driven by broad-based gains in demand that signal the market is stabilising.

Foreign briefs

24 May 2012 |

PRINT: 24 May 2012 | PAGE 3 |

The effective government of Papua New Guinea says it will arrest the three judges who ordered ousted prime minister Michael Somare returned to power, unless they resign.

Greeks in fear of ‘drachmageddon’

24 May 2012 | Liz Alderman

PRINT: 24 May 2012 | PAGE 2 | Greeks in fear of ‘drachmageddon’

These days, talk of “drachmageddon” can be heard in conversations all over Athens. The nation is bracing to meet its fate, but how do you prepare for the Apocalypse?

Booze cruise back on weak euro

24 May 2012 |

PRINT: 24 May 2012 | PAGE 19 | Cross-channel booze cruise picks up as euro weakens

The British booze cruise is set to make a resurgence as consumers take advantage of the weakening euro.

Anti-austerity proponents dog Merkel

24 May 2012 | Andrew Trotman London

PRINT: 24 May 2012 | PAGE 1 | Europe markets dive ahead of summit

European Union leaders have begun meeting in Brussels with the shadow of a Greek exit from the euro and a Spanish banking crisis looming over them, as European markets fell heavily on investors’ doubts the summit would lead to a solution of the eurozone’s problems.

IMF tells Britain: cut taxes and increase spending

24 May 2012 | Phillip Inman

PRINT: 24 May 2012 | PAGE 1 | IMF tells Britain: cut taxes and increase spending

The IMF has urged the Britain to start preparing emergency tax cuts as it called for more interest rate reductions to lift the UK from its double-dip recession.

Job ads for skilled workers fall

24 May 2012 | Jacob Greber

PRINT: 24 May 2012 | PAGE 5 | Job ads for skilled workers fall

Signs of weakness that threaten the domestic economy have intensified after a report showed demand for skilled workers tumbled last month by the most in almost three years.

WA Labor blasts use of state fund

24 May 2012 | Jonathan Barrett

PRINT: 24 May 2012 | PAGE 5 | WA Labor blasts fund use

West Australian Opposition Leader Mark McGowan has attacked the centrepiece of the state government budget, a state wealth fund, by saying the money needs to be spent immediately on roads, transport and research.

Emboldened Abbott treads carefully

24 May 2012 | Mark Skulley

PRINT: 24 May 2012 | PAGE 2 | Emboldened Abbott still being careful

Skulley | There is a strong push for changes to Labor’s Fair Work Act in the Liberal Party’s traditional business-supporter base.

Myer’s loss is UK online’s gain

24 May 2012 | Sue Mitchell

PRINT: 24 May 2012 | PAGE 1 | Myer’s loss is UK online’s gain

Myer chief executive Bernie Brookes has painted a bleak picture of the Australian retail landscape, saying a combination of sharemarket turmoil and carbon tax concerns is keeping shoppers away.

New tax rules won’t squeeze tech giants

24 May 2012 | Katie Walsh

PRINT: 24 May 2012 | PAGE 1 | New tax rules won’t squeeze tech giants

Changes to the tax laws to stop companies shifting profits overseas are unlikely to get more tax out of global technology companies such as Google, tax experts said.

Myer blames economic funk for sales decline

24 May 2012 | Sue Mitchell

PRINT: 24 May 2012 | PAGE 1 | Myer blames general funk for sales decline

Myer chief Bernie Brookes has blamed uncertainty created by the carbon tax and rising living costs for a sudden deterioration in sales which derailed the retailer’s 2012 profit guidance.

$A takes a hit for the good of the nation

24 May 2012 | Jacob Greber

PRINT: 24 May 2012 | PAGE 1 | $A taking one for the nation

At last the Australia dollar is doing what it does best. Taking a hit for the good of the nation.

Call to end China trade deal talks

24 May 2012 | Greg Earl

PRINT: 24 May 2012 | PAGE 1 | Call to ditch China trade deal talks

One of Australia’s former top trade negotiators has called for an end to the long-running free-trade agreement talks with China amid new tensions between Canberra and Beijing.

Trade pacts prey to tangling

24 May 2012 | Greg Earl

PRINT: 24 May 2012 | PAGE 2 | Trade pacts prey to tangling

A confusing web of bilateral deals means understanding the trade agreement landscape can be a bit like wrestling an octopus.

What ails nation’s consumers

24 May 2012 | Tony Boyd

PRINT: 24 May 2012 | PAGE 72 | What ails nation’s consumers

Myer chief executive Bernie Brookes yesterday summed up the weight of woes keeping wallets and purses shut in Australia.

Retail sector keeps analysts in the dark

23 May 2012 | Bianca Hartge-Hazelman

PRINT: 24 May 2012 | PAGE 4 | Retail sector keeps analysts in the dark

Retail analysts have never done it tougher. Mirroring the woes of their troubled sector, some analysts aren’t saying too much, but it’s not because they don’t have a view.

Projects to boost demand as economy cools

23 May 2012 | Lucy Gao

Vice-Premier Li Keqiang has called for the expansion of domestic market demand through projects such as affordable housing and medical system reform, amid signs of the economy cooling further.

EU summit oils a slippery $A slope

23 May 2012 | Jason Murphy

PRINT: 24 May 2012 | PAGE 4 | EU summit oils a slippery slope

The correction in the Australian dollar gathered speed as fears about the European economy crystallised ahead of last night’s European Union summit, and experts forecast the local currency could slide as low as US94¢ or US95¢ in coming weeks.

China slowdown threatens Aus: World Bank

23 May 2012 |

Australia's dependence on resource exports could come back to bite it as a slowdown in Chinese growth causes commodity prices to fall, the World Bank warns.

Fundamentals and price point to ‘cast iron future’

23 May 2012 | Brendon Lau

PRINT: 24 May 2012 | PAGE 4 | Fundamentals, price point to ‘cast iron future’

Iron ore stocks have taken the brunt of the latest sell-off as the commodity’s price tumbled following the European debt crisis and Chinese slowdown. But experts believe there is too much pessimism priced into shares.

Gold slumps on scepticism of EU meeting

23 May 2012 |

Gold eased on Wednesday extending sharp losses made in the previous session as investors were sceptical that an informal European Union meeting later in the day would yield steps to help solve the region's debt crisis.

Boom blinding us to worrying trends, warns Costello

23 May 2012 | Duncan Hughes

PRINT: 24 May 2012 | PAGE 3 | Boom blinds us to ‘worrying trends’

Consumer sentiment is weak and productivity falling despite boom economic conditions and the strongest terms of trade since the Victorian gold rush, Peter Costello has warned.

Time for some Latin flair, says Carr

23 May 2012 | Katie Walsh

PRINT: 23 May 2012 | PAGE 5 | Time for Latin flair

Australia must build stronger ties with the burgeoning resource-heavy economies of Latin America, but not at the expense of relationships in the Asia-Pacific, Foreign Minister Bob Carr says.

Uncle Sam heading for a reality check

23 May 2012 | Glenn Mumford

PRINT: 24 May 2012 | PAGE 4 | Uncle Sam heading for a reality check

America likes to lead from the front. They reckon it’s what they do best.

Mining entrepreneurs plead not guilty

23 May 2012 | Jonathan Barrett

PRINT: 23 May 2012 | PAGE 4 | Mining chiefs

Western Australian mining entrepreneurs Peter Bartlett and Ron Sayers have pleaded not guilty to defrauding the federal government and will face a jury trial early next year.

World Bank cuts China forecast

23 May 2012 |

The World Bank cut its economic growth forecast for China this year to 8.2 per cent on Wednesday and urged the country to rely on easier fiscal policy that boosts consumption rather than state investment.

Gold extends losses ahead of EU summit

23 May 2012 |

Gold edged lower on Wednesday, extending sharp losses made in the previous session as hopes faded that an informal European Union meeting later in the day would yield steps to help with the region's debt crisis.

Crude prices drop on Iran talks, euro concerns

23 May 2012 |

US crude fell on Tuesday, extending Tuesday's losses as a potential deal between Iran and the UN nuclear watchdog eased oil supply worries, while concerns about Europe continued to pressure prices.

China’s sovereign fund gives Europe a blasting

23 May 2012 | Peter Wells

In no uncertain terms, China has told Europe to get its act together. Jin Liqun of China Investment Corporation gave Europe a bit of a blasting over its dealing with Greece.

Skilled vacancies tumble most in 3 years

23 May 2012 | Jacob Greber

Updated | Vacancies for skilled workers tumbled 7 per cent last month, close to the lowest level in more than two years as annual demand for employees fell in every state and territory except Western Australia.

Smeltdown for aluminium

23 May 2012 | Angela Macdonald-Smith

PRINT: 24 May 2012 | PAGE 1 | Aluminium smeltdown

Almost 30 per cent of Australia’s aluminium capacity could be mothballed by the end of the year, hit by high power prices and cheap Chinese imports, and the prospect of the ­carbon tax.

Carbon price divides Labor and Greens

23 May 2012 | The GreensMarcus Priest

PRINT: 23 May 2012 | PAGE 9 | Carbon price delay reveals brown tinge, says Labor MP

A new split has emerged between Labor and its coalition partner, the Greens, ahead of the introduction today of a key element of the carbon price package agreed to last year.

Greek euro zone exit ‘catastrophic’: ex-PM

23 May 2012 | Ben Woodhead

Former Greek prime minister Lucas Papademos has reportedly described “catastrophic” consequences of a Greek exit from the euro and suggested some countries are already considering contingency plans.

‘Fiscal cliff’ could trigger US recession

23 May 2012 |

A stalemate over how to tackle a series of fiscal deadlines at year’s end would likely push the United States economy into recession in the first half of next year, the Congressional Budget Office warned.

Cautious on copper as metals steady

23 May 2012 |

Base metals have closed mixed on the LME, boosted later in the session by stronger-than-expected homes sales data from the US, but still trading cautiously ahead of a much-anticipated European Union summit the following day.

Gold falls ahead of European summit

23 May 2012 |

Gold traded near intraday lows with selling accelerating on low volumes as the euro lost further ground ahead of a much-anticipated European summit.

Rise in US home resales bodes well for economy

23 May 2012 |

The pace of sales for existing US homes in April rose to its fastest in nearly two years and a falloff in foreclosures helped cause an unexpected jump in prices, hopeful signs for the economic recovery.

Fitch downgrades Japan rating to A-plus

23 May 2012 |

The ratings agency Fitch on Tuesday lowered its assessment of Japan’s sovereign credit to A-plus, an investment grade just above the likes of Spain and Italy.

Hollande on collision course with Merkel over bonds

23 May 2012 |

Germany has dismissed a French-led call for EU governments to issue common bonds, a day before a summit which investors are looking to for new measures to counter the bloc’s debt crisis.

Oil falls as IAEA sees deal with Iran

23 May 2012 |

Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran’s nuclear program eased worries about oil supply disruptions, countering supportive US home resale data.

World briefs

23 May 2012 |

PRINT: 23 May 2012 | PAGE 3 |

Japan’s foreign investments and assets grew to the second-highest level on record as companies used the high yen to make acquisitions abroad.

Euro zone crisis can go global: OECD

23 May 2012 | David Jolly

PRINT: 23 May 2012 | PAGE 46 | Euro zone crisis can go global: OECD

Global stocks rose on Tuesday even as the Organisation for Economic Co-operation and Development cut its growth forecast for the euro zone.

Baird may cut NSW spending

23 May 2012 | Jacob Greber

PRINT: 23 May 2012 | PAGE 5 | Baird may cut NSW spending

NSW may be forced to reduce government spending after Treasurer Mike Baird pledged to take “whatever action” is needed to retain his state’s AAA credit rating.

A 10-year landfill headache

23 May 2012 | Marcus Priest

PRINT: 23 May 2012 | PAGE 4 | A 10-year landfill headache

For Statewide Waste in western Victoria the problem about the carbon price isn’t what it has to pay from July 1 but what it may have to pay in 2022.

News briefs

23 May 2012 |

PRINT: 23 May 2012 | PAGE 3 |

Prime Minister Julia Gillard has used her final address to a summit in Chicago on Afghanistan to urge other countries to follow Australia’s example and provide more cash to sustain Afghan security forces.

Greece will have to abandon the euro

23 May 2012 | Boris Johnson

PRINT: 23 May 2012 | PAGE 1 | Better to bite drachma bullet

Boris Johnson | It is unbelievable that we should be urging fiscal union. It is like seeing a driver heading for a brick wall, and then telling them to hit the accelerator rather than the brake.

Home owners face higher mortgage rates

23 May 2012 | George Liondis

PRINT: 23 May 2012 | PAGE 3 | Home owners face higher rates

Australia might be a long way from the turmoil engulfing Europe. But fears that Greece will exit the euro and default on its debts are set to be felt by Australian home owners in the form of higher interest rates.

Jobless need help and motivation

23 May 2012 | Alan Mitchell

PRINT: 23 May 2012 | PAGE 2 | Jobless need help, motivation

With the welfare lobby still complaining that Newstart Allowance recipients are on the poverty line, the issue is far from closed.

Dragon economy on the rise

23 May 2012 | Zheng Lifei

PRINT: 23 May 2012 | PAGE 4 | Dragon economy on the rise

A leading index for China rose at the same pace in April as the prior month, offering some comfort that the world’s second-biggest economy may avoid a deeper slowdown.

Protectionism not the answer

23 May 2012 | Peter Roberts

PRINT: 23 May 2012 | PAGE 1 | Protectionism not the answer

Roberts | Paul Howes’ call for Australia to get into the business of picking winners takes us back to the 1980s and the long-gone era of protectionism.

Manhattan penthouse sets record

23 May 2012 | Oshrat Carmiel

PRINT: 23 May 2012 | PAGE 3 | Penthouse under construction sets record price

A duplex penthouse at a tower under construction on Manhattan’s West 57th Street went under contract for more than $US90 million.

Labor’s image is bad for business

23 May 2012 | Nassim Khadem

PRINT: 23 May 2012 | PAGE 3 | Labor’s image takes a heavy

Business leaders say consumer and business confidence is being hurt under the current political climate.

More Greek muddle

23 May 2012 | Jennifer Hewett

PRINT: 23 May 2012 | PAGE 2 | More Greek muddle

Hewett | Berlin and Paris are in furious agreement that they’ll “do everything to keep Greece in the euro club’’, if not on how to achieve this.

Retail stocks face mundane times

23 May 2012 | Sue Mitchell.

PRINT: 23 May 2012 | PAGE 1 | Retail stocks face mundane times

As consumers continue to favour buying over the internet and desert bricks-and-mortar stores, the possibility of retail shares rebounding looks bleak.

French join push for euro bonds

23 May 2012 | Nicholas Kulish

PRINT: 23 May 2012 | PAGE 2 | French join the drive for euro bonds

When European leaders meet on Wednesday to discuss euro zone woes, French President François Hollande will press the issue of euro bonds.

Services win from trade deal

23 May 2012 | Greg Earl

PRINT: 23 May 2012 | PAGE 4 | Services win from trade deal

Services businesses have won potentially valuable new access to Malaysia under a trade agreement sealed on Tuesday that locks Australia further into South-East Asia.

Talks unlikely to resolve Apple-Samsung dispute

23 May 2012 | Joel Rosenblatt

PRINT: 23 May 2012 | PAGE 3 | Talks unlikely to solve Apple’s worldwide war

Apple Inc and Samsung Electronics Co are unlikely to resolve their worldwide fight over patents in court-ordered talks between their chief executive officers.

Local tax from global profits 

23 May 2012 | David Pratley

PRINT: 23 May 2012 | PAGE 1 | Local tax from global profits 

Recent comments by opposition communications spokesman Malcolm Turnbull have focused on the taxation of global technology behemoths such as Google and Apple. In particular whether the tax paid in Australia is disproportionately low relative to the revenue said to be earned here.

Chicago springs back

23 May 2012 | Brian Louis

PRINT: 23 May 2012 | PAGE 3 | Chicago springs back

Hines, an international property investor, and the real estate arm of Canada’s biggest pension- fund manager plan to build a $US300 million office tower in Chicago, the largest new project in the city in five years.

Rate cut tips get ‘too extreme’

23 May 2012 | Joanna Heath

PRINT: 23 May 2012 | PAGE 4 | Rate cut tips get ‘too extreme’

Market predictions of further monetary easing measures from the Reserve Bank of Australia have become too extreme, strategists say, leaving some room for recovery for the Australian dollar.

IT firms lift Manhattan office rents

23 May 2012 | David Levitt

PRINT: 22 May 2012 | PAGE 3 | IT firms lift Manhattan office rents

Office demand in New York is shifting from midtown to the quirkier mix of neighbourhoods to its south, increasing rents to levels demanded for the best space.

Nikkei ends up 1.1pc on bargain pickers

22 May 2012 |

Japan's Nikkei share average rose 1.1 per cent on Tuesday, extending the previous session's technical rebound as investors picked up cheaper stocks after last week's sharp sell-off, triggered by concern over a deepening euro zone debt crisis.

Uptick in 2013 – but not for property

22 May 2012 | Jacob Greber

PRINT: 23 May 2012 | PAGE 1 | An uptick in 2013 but not for property

The Organisation for Economic Co-operation and Development has upgraded its forecast for economic growth in Australia next year but warns the negative effects of the mining boom may hurt the property market.

China hopes spark rebound

22 May 2012 | Brendon Lau

PRINT: 23 May 2012 | PAGE 4 | China hopes spark rebound

The market rallied for a second straight day on hopes that China will undertake measures to stimulate its slowing economy and on positive overnight leads from the US and Europe as fears about euro zone debt contagion took a back seat.

It doesn’t have to be this nasty: BCA

22 May 2012 | Claire Stewart

PRINT: 23 May 2012 | PAGE 3 | It doesn’t have to be this nasty: BCA

Updated | BCA president and Transfield chairman Tony Shepherd has called for a return to a less-confrontational approach to industrial relations by unions and employers.

Queensland to streamline major project regulation

22 May 2012 | Mark Ludlow

PRINT: 22 May 2012 | PAGE 5 | Queensland streamlines regulation

Queensland has declared big mining projects that help kick-start the state’s economy will get the regulatory assistance they need.

Brent steady ahead of EU summit, Iran talks

22 May 2012 |

Brent crude held steady near $US109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply.

Pick winners, union leader urges Labor

22 May 2012 | Pip Freebairn

PRINT: 23 May 2012 | PAGE 1 | Pick winners, union leader urges Labor

Trade union boss Paul Howes believes financial institutions should be forced to mirror movements of official interest rates when setting their lending rates.

Is the US Fed softening us up for something?

22 May 2012 | Glenn Mumford

PRINT: 22 May 2012 | PAGE 4 | What has the US Fed got in store?

It was just the strangest of comments. Atlanta Fed president Dennis Lockhart had just finished explaining why markets shouldn’t expect a further round of large scale asset purchases unless we saw a severe drop-off in economic performance.

Death penalty for fundraising fraud

22 May 2012 | Lucy Gao

The Higher People’s Court in East China’s Zhejiang Province handed businesswoman Wu Yinga the death penalty with a two-year reprieve for fundraising fraud, after a retrial.

Tax Google like Twiggy, says Conroy

22 May 2012 | David Ramli

PRINT: 22 May 2012 | PAGE 1 | Tax Google like Twiggy, says Conroy

Stephen Conroy says tech giants such as Google will be hit by tax laws designed to stop them transferring profits out of Australia, a step he compared with the government’s policy on wealthy mining entrepreneurs.

Don’t be sure about gold’s future

22 May 2012 | Stephen Wyatt

The gold bubble will burst. It’s just a matter of when and how far the price will fall.

City-slickers deaf to rural economic woes

22 May 2012 |

Australia's real unemployment rate is twice the official figure and the Reserve Bank must urgently cut interest rates, says the nation's biggest research firm.

Crude edges up, stays above $US92; Iran talks eyed

22 May 2012 |

US crude inched up on Tuesday, extending gains from the previous session when prices snapped out of a six-day losing streak on hopes Beijing would take action to stimulate growth.

Gold flat, investors await euro zone meeting

22 May 2012 |

Gold traded little changed on Tuesday, as investors await a European Union summit that is expected to discuss fresh action to solve the region's debt crisis that has been threatening global growth.

Youth joblessness near GFC peak: ILO

22 May 2012 |

Youth joblessness is almost back at its peak following the outbreak of the global economic crisis and is unlikely to ease until at least 2016, the International Labour Organization (ILO) warned.

Small, medium business worries too much

22 May 2012 |

The domestic economy might be still chugging along but small business is missing out on investment opportunities as they worry about the wider global outlook.

Vale: iron ore sales brisk despite China

22 May 2012 |

Brazilian miner Vale is selling iron ore about as fast as it can mine it despite a slowdown in the economy of China, its top customer, the company’s head of investor relations said on Monday.

Gold falls back as investor anxiety rises

22 May 2012 |

Gold futures have pulled back, the first loss in three trading sessions, as a lack of a new economic-policy response to Europe's debt woes limited demand for the precious metal as an alternative asset.

Gold eases after failing to breach $US1600/oz

22 May 2012 |

Gold prices slipped on Monday after early buying failed to lift prices past $US1600 an ounce, with investors still cautious about the precious metal,

US benchmark notes ease on profit-taking

22 May 2012 |

Benchmark US Treasuries eased in price on Monday as investors took profits after a recent rally that was sparked by fears over a worsening of the European debt crisis.

Sovereign wealth fund not a priority

22 May 2012 | Graham Bradley

PRINT: 22 May 2012 | PAGE 2 | Sovereign wealth fund not a priority

It does not make sense to lock away funds when the nation is underinvested in infrastructure.

Australia’s Afghan aid under cloud

22 May 2012 | Jason Thomas

PRINT: 22 May 2012 | PAGE 3 | Australia’s

The announcement by Afghanistan’s President, Hamid Karzai, that Afghan security forces will take the lead in a third of all provinces coincides with Prime Minister Julia Gillard’s opinion that Australian troops can withdraw by 2013, a year earlier than expected. This means AusAid must deliver programs without the protection of Australian forces.

Notebook: wealthy French flee to London

22 May 2012 | Der Spiegel

PRINT: 22 May 2012 | PAGE 66 | NOTEBOOK Wealthy French flee to London

It began in 2010 when wealthy Greeks started coming to London to buy up expensive townhouses in upmarket neighbourhoods.

World’s best treasurer passes buck

22 May 2012 | Zac Kerr

PRINT: 22 May 2012 | PAGE 61 | World’s best treasurer passes buck

Katie Walsh’s “Push for corporate tax cut intensifies” (May 16) neatly highlights the unprecedented level of buck passing being undertaken by the federal government. Despite the world’s best Treasurer being ultimately in charge of our economy and particularly our system of taxation, his focus and energies appear to have been so severely depleted in delivering his recent “battling budget” that he has now offloaded responsibility for delivering his own promised business tax cuts.

What Greece needs

22 May 2012 | J J Pincus

PRINT: 22 May 2012 | PAGE 61 | What Greece needs

Alan Mitchell’s Economic Outlook (“German generosity required”, May 21) unfavourably compares Germany’s insistence on Greek austerity, with America’s unconditional Marshall Aid after World War II: “Where American politicians were prepared to use their taxpayers’ money to rebuild Germany, regardless of fault, Germany was not prepared to be so forgiving of the Greeks for their errors.”

Boom-era debt sparks sell-offs

22 May 2012 |

PRINT: 22 May 2012 | PAGE 4 | Boom-era debt sparks sell-offs

Germany’s multi-family housing market is set to have the most deals in five years as investors including private-equity firms are forced to sell almost 100,000 apartments to pay debt amassed in the past decade’s buy-out boom.

UK ‘will struggle’ to refinance loans

22 May 2012 | Simon Packard

PRINT: 22 May 2012 | PAGE 4 | UK ‘will struggle’ to refinance loans

UK commercial real estate investors may be unable to refinance up to £100 billion ($161 billion) of loans and the euro region’s debt crisis is making banks less willing to extend credit, a De Montfort University study reports.

Values fall for CMBS

22 May 2012 | Sarah Mulholland

PRINT: 22 May 2012 | PAGE 4 | Values fall for CMBS

Wall Street dealers are selling commercial-mortgage bonds with the widest spread this year as the European debt crisis and JPMorgan Chase’s trading loss rattle markets.

UK homes feel pinch

22 May 2012 |

PRINT: 22 May 2012 | PAGE 4 | UK homes feel pinch

Asking prices for United Kingdom homes were unchanged in May as the crisis in Europe and the end of a tax break for first-time buyers dampened demand, according to Rightmove.

UK homes hit new high

22 May 2012 | Fergal O’Brien

PRINT: 22 May 2012 | PAGE 4 | UK homes hit new high

London house values rose to a record this month and the city’s property market may be further boosted as investors seek a haven from the euro-area debt crisis, according to Rightmove Plc.

Rebound a tribute to wishful thinking

22 May 2012 | Glenn Mumford

PRINT: 22 May 2012 | PAGE 5 | Bounce a tribute to wishful thinking

It’s always tempting to play for the bounce. So after three weeks of selling, investors again seem willing to buy risk.

British selling tea in China

22 May 2012 | Julia Kollewe

PRINT: 22 May 2012 | PAGE 4 | British selling tea in China

British favourites such as baked beans and cream of mushroom soup have proved an unlikely hit with Chinese shoppers at Marks & Spencer’s flagship store in central Shanghai.

Harvey Norman workforce in for a trimming

22 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 22 May 2012 | PAGE 22 | Harvey workforce in for a trimming

An internal email sent last week at a major franchise of Harvey Norman’s Commercial division highlights the challenges facing retailers in Australia.

How to deepen ties with Indonesia

22 May 2012 | The Australian Financial Review

PRINT: 22 May 2012 | PAGE 3 | How to deepen ties with Indonesia

Editorial | Relations between Australia and Indonesia will always be challenging given that no two neighbours are more dissimilar in so many ways.

US might reach its own bang point

22 May 2012 | Philip Baker

PRINT: 22 May 2012 | PAGE 21 | US may be on Greek path to its own bang point

Baker | The US has too much debt, and has not restored its savings rate. If this continues, the US might reach its own bang point.

eHealth to save $11bn for budget

22 May 2012 | David Ramli

PRINT: 22 May 2012 | PAGE 1 | eHealth to save $11 billion

The Federal Government has claimed its troubled electronic health programs will save more than $11 billion over the next 15 years as its guns for a budget surplus.

Strategists warn against $A optimism

22 May 2012 | Joanna Heath

PRINT: 22 May 2012 | PAGE 29 | Strategists warn on $A optimism

The Australian dollar managed to snap a six-day losing streak on Monday following the weekend’s Group of Eight summit, but strategists say the bump may be short-lived.

Wen gives higher priority to growth

22 May 2012 | Victoria Ruan

PRINT: 22 May 2012 | PAGE 2 | Wen gives higher priority to growth

Chinese Premier Wen Jiabao said the government would focus more on bolstering economic growth, indicating policies may be loosened further as inflation moderates.

Vietnam factories close as credit squeeze bites

22 May 2012 | Nguyen Dieu Tu Uyen

PRINT: 22 May 2012 | PAGE 2 | Vietnam factories close as credit squeeze bites

Vietnamese businesses are dying by the thousands as the government tries to find a sustainable path to growth after years of easy credit funded makers of cheap goods and triggered Asia’s highest inflation.

Serbs’ EU hopes dive as nationalist elected

22 May 2012 | Ian Traynor

PRINT: 22 May 2012 | PAGE 1 | Serbs’ EU hopes dive

Serbia’s hopes of fast-track integration into Europe suffered a severe setback when Boris Tadic was voted out of the presidency in a victory for a more nationalist rival.

Cameron tells Greeks it’s time to choose

22 May 2012 | Patrick Wintour

PRINT: 22 May 2012 | PAGE 1 | Cameron to Greeks: time to choose

A second Greek election result next month backing parties opposed to the European Union’s bailout package would be a decisive vote to leave the euro for which contingency plans have to be made now, David Cameron warned in a dramatic raising of the stakes.

FTA is a slow boat to China

22 May 2012 | Greg Earl

PRINT: 22 May 2012 | PAGE 3 | FTA is a slow boat to China

The latest obstacle to reaching a trade agreement with China has surprised some business people but confirmed the view of others that a successful deal will take a lot longer.

Challenge of collecting taxes from IT companies

22 May 2012 | Brian Corrigan

PRINT: 22 May 2012 | PAGE 1 | Clouding up tax revenue

Attempts to close loopholes that allow multinational technology companies to minimise local tax bills will become more difficult as a growing number of services move online.

Councils grill carbon tax chief on waste costs

22 May 2012 | Marcus Priest

PRINT: 22 May 2012 | PAGE 2 | Councils grill carbon tax chief on costs

The woman with one of the toughest jobs in Australia – chairing the body overseeing the establishment of the carbon tax – has faced a grilling at a Senate estimates hearing over confusion among local councils.

FWA: conflict breeds conflict

22 May 2012 | Matthew Stevens

PRINT: 22 May 2012 | PAGE 1 | FWA: conflict breeds conflict

Fair Work Australia’s Graeme Watson argues that the system is trapped in an almost self-reinforcing focus on conflict.

Vic, NSW risk cut to AAA rating

22 May 2012 | Jacob Greber

PRINT: 22 May 2012 | PAGE 2 | Vic, NSW face cut to

The Victorian and NSW governments are at risk of breaching debt levels closely watched by Standard & Poor’s and triggering a downgrade in their credit ratings, analysts say.

The economics of DNA

22 May 2012 | Deirdre Macken

PRINT: 22 May 2012 | PAGE 2 | Define yourself: the economics of DNA

Macken | Some time soon you won’t have to explain your risk profile to the financial planner, you’ll just hand over a copy of your DNA.

Four suspects in Greek whodunnit

22 May 2012 | Mohamed El-Erian

PRINT: 22 May 2012 | PAGE 2 | Suspects in Greek whodunnit

Greece is following the road taken by several other crisis-ridden emerging economies over the past 30 years. There are stunning similarities between this once-proud euro zone member and Argentina prior to its default in 2001.

Q&A: Trust timing

22 May 2012 |

PRINT: 22 May 2012 | PAGE 1 | Q&A: Trust timing

We operate our business through a family trust. The profits are distributed each year to various family members. We sign off a resolution each year confirming the distributions. Normally our accountant organises this for us. Does it matter when we do this?

Tax reforms can foster start-ups

22 May 2012 | Jessica Gardner

PRINT: 22 May 2012 | PAGE 1 | Tax reforms can foster start-ups

Entrepreneur Michael Malone says changes to tax policy are needed to nurture start-up businesses.

Nikkei ends up 0.3pc on G8 reassurances

21 May 2012 |

Japan's Nikkei average inched up on Monday, with short-covering prompting a recovery from the sharp losses of the previous session, and a call from world leaders for Greece to remain in the euro zone helping to soothe investors' jitters.

Rebound at mercy of data flow

21 May 2012 | Bianca Hartge-Hazelman

PRINT: 22 May 2012 | PAGE 5 | Rebound at mercy of data flow

Respite from European worries gave investors reason to head back in the market despite last week’s carnage. But pending news on Chinese manufacturing activity could put a further dampener on sentiment.

$A flat in uncertain market

21 May 2012 |

The Australian dollar is struggling around six-month lows reached at the end of last week as the market faces uncertainty.

Video | Das Capital

21 May 2012 |

Satyajit Das discusses China and the global economy.

As G8 prevaricates, China shows the way

21 May 2012 | Glenn Mumford

It’s always tempting to play for the bounce. So after three weeks of selling investors again seem willing to buy risk. I think that’s a mistake.

We’re not the safe haven we think we are

21 May 2012 | David Bassanese

PRINT: 21 May 2012 | PAGE 5 | We’re not the safe haven we’d like to think we are

With respect to former federal Treasury secretary Ken Henry, the possibility that the Australian dollar could act as a “safe haven” during the European financial crisis is likely a pipe dream.

Gold edges up but Europe concerns remain

21 May 2012 |

Gold inched up on Monday to extend last week's rise, tracking a steady euro after world leaders pledged to combat financial turmoil, although worries about Greece and the euro zone debt crisis continued to feed caution in the financial markets.

Demand for steel cools

21 May 2012 | Lucy Gao

Steel prices in China have recently fallen to near their lowest level this year due to oversupply.

Nikkei recovers on hopes Europe will act

21 May 2012 |

Japan’s Nikkei average inched higher on Monday, recovering from sharp falls in the previous session, as a call from world leaders for Greece to remain in the euro zone.

Oil price flat despite G8’s attempts to stir

21 May 2012 |

US crude prices were flat above $US91 per barrel on Monday as concerns about the European economy continued to weigh on prices.

Aust, Malaysia to sign free trade deal

21 May 2012 |

Trade Minister Craig Emerson will sign a free trade agreement with Malaysia in Kuala Lumpur on Tuesday.

Greeks stash their cash and wait for the exit

21 May 2012 |

The 65 year-old has been doing the same thing daily, steadily depleting his savings, since Greece's cataclysmic general election on May 6.

Pro-bailout parties on course for Greek victory

21 May 2012 |

The parties which support Greece's bail-out package are set to win an overall majority in elections next month, according to two opinion polls published on Sunday.

Oil keeps falling, while gold rebounds

21 May 2012 |

Investors have take a shine to precious metals as gold, silver and platinum regained strength on Friday. But oil is sinking to its lowest price in months as markets remain pessimistic.

Notebook | US election is capital v labour

21 May 2012 | Robert Samuelson

PRINT: 21 May 2012 | PAGE 54 | NOTEBOOK US election is a capital v labour skirmish

US capitalism is on trial. When Americans vote in November, they will unavoidably choose between two competing visions of capitalism.

Indonesia’s drift erodes its democracy

21 May 2012 | The Australian Financial Review

PRINT: 21 May 2012 | PAGE 1 | Indonesia’s drift erodes its democracy

Editorial | The stability and prosperity of Indonesia, the world’s biggest Muslim nation, is of immense economic, security, and geopolitical importance to Australia.

From Russia with love: stick with the euro

21 May 2012 | Geoff Winestock

PRINT: 21 May 2012 | PAGE 1 | From Russia with love: stick with the euro

Winestock | My strongest memory of the time when the ruble zone was breaking up is the Ukrainian black market traders arriving every morning.

Low rates lead to high risk

21 May 2012 | Ben Potter

PRINT: 21 May 2012 | PAGE 2 | Low rates lead to high risk

Potter | It’s a bit early for the lessons of the 2008 crisis to have been forgotten. But maybe the lessons of the 1990s tech boom have receded.

Aussie banks say they can ride it out

21 May 2012 | George Liondis

PRINT: 21 May 2012 | PAGE 4 | Aussie banks say ‘we’re all right mate’

Australia’s banks are at risk of being drawn into Europe’s debt crisis as a measure of their funding costs rises to its highest level this year. But they claim they are prepared for the worst in Europe.

Europe holds sway over monetary policy

21 May 2012 | Jacob Greber

PRINT: 21 May 2012 | PAGE 3 | Europe holds sway over monetary policy

With the Reserve Bank board due to meet in just over two weeks, concerns about the European crisis are increasingly dominating Australia’s monetary policy considerations.