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  • New home sales lift in November | Business Spectator
    Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu New home sales lift in November 10 Jan 11 45 AM 3 Industries Construction and Engineering Economy HIA new home sales report shows growth rate hits two and a half year high You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter New home sales in Australia posted their fastest monthly growth rate since January 2010 in November to hit a two and a half year high according to the Housing Industry Association The HIA New Home Sales report showed the healthy 7 5 per cent increase in total seasonally adjusted new home sales was driven by a 30 5 per cent jump in multi units together with a 3 6 per cent lift in detached house sales HIA chief economist Harley Dale said the upward momentum evident in new home sales since the closing stages of 2012 continued late last year which is a good sign for residential construction activity in 2014 Both new home sales and private sector building approvals increased strongly over the three months to November last year with detached housing growing by around 4 per cent according to both leading indicators for example Dr Dale said We need to see upward momentum in these leading indicators continue throughout 2014 For new home sales the first milestone to look out for will be sales once again reaching the volumes experienced in the first half of 2011 Over the three months to November 2013 the volume of detached house sales increased in all five surveyed states while the downward trend evident in multi unit sales reversed due to strong monthly outcomes in both September and November Print this page Related articles 09 Jan Building approvals fall in November 08 Jan Fair Work Commission warns unions 08 Jan Residential construction lifts in December 07 Jan Boart Longyear appoints new CFO 06 Jan Sydney to avoid house bubble More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/construction-and-engineering/new-home-sales-lift-november (2014-01-12)
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  • Toyota to produce 10 million cars | Business Spectator
    National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Toyota to produce 10 million cars 12 Jan 11 05 PM 2 Industries Automotive Carmaker seen chasing bullish 2014 production target report You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AFP Toyota Motor Corp is aiming to produce more than 10 million vehicles in 2014 a bullish target that could boost other industries in Japan a report said Saturday The Toyota group s production may fall temporarily after April when Japan increases the consumption tax from five to eight per cent the Asahi Shimbun newspaper said But the impact of the tax hike should be blunted by a lowering of the automobile acquisition tax that will also become effective from the new fiscal year starting April the Asahi said With Japan s economic recovery set to remain solid Toyota expects its production will pick up from the autumn to achieve the target the Asahi said Toyota s bullish stance could cause ripple effects to other industries the Asahi said Toyota is Japan s biggest manufacturer Its health could affect steelmakers and parts suppliers of all kinds as well as the economy of the central Japan where the company is based In 2013 Toyota aimed to produce a record 10 12 million vehicles after it overtook General Motors in 2012 to regain the title of world s biggest automaker The company built 9 3 million vehicles between January and November with Japanese media saying it was on target to become the first automaker in the world to build more than 10 million units in a year Toyota whose group includes small vehicle maker Daihatsu and truck producer Hino will make the 2014 annual production target official by the end of the month the Asahi said The consumption tax hike is expected to lower Toyota s annual production by 10 000 units The Japanese auto sector as a whole was likely to reduce production by 20 000 to 30 000 units due to the tax hike the Asahi added Print this page Related articles 10 Jan Volvo Cars sales up in 2013 08 Jan GM asked to give up Holden 08

    Original URL path: http://www.businessspectator.com.au/news/2014/1/12/automotive/toyota-produce-10-million-cars (2014-01-12)
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  • Alcoa swings to Q4 loss | Business Spectator
    Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Alcoa swings to Q4 loss 10 Jan 8 36 AM 1 Industries Resources and Energy Aluminum maker s results weighed by US1 7bn impairment charge You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Dow Jones Newswires with a staff reporter Alcoa Inc swung to a steep fourth quarter loss as the aluminum maker recorded a US1 72 billion impairment charge Shares fell in after hours trading as the adjusted profit Alcoa reported for the latest period wasn t as strong as analysts expected though the top line exceeded expectations For the latest quarter Alcoa reported a loss of US2 34 billion or 2 19 a share compared with a prior year profit of US242 million or 21 cents a share a year earlier Excluding charges tied to a temporary smelter shutdown restructuring and asset sale gains adjusted earnings from continuing operations fell to four cents from six cents Revenue fell 5 3 per cent to US5 59 billion as shipments of aluminum products dropped nearly 3 per cent Analysts surveyed by Thomson Reuters projected an adjusted profit of six cents a share on US5 34 billion in revenue The cost of goods sold decreased 5 2 per cent Alcoa reported The company s engineered products and solutions unit which makes fasteners truck wheels and parts for jet engines saw operating income climb 20 per cent to 168 million The primary metals division which makes raw aluminum posted a 35 million operating loss down sharply from the prior year results that were boosted by an asset sale gain The fourth quarter results come after Alcoa and a joint venture it controls agreed to pay a combined US384 million to the United States government to settle bribery allegations tied to a contract with Bahrain s state controlled aluminum smelter Looking ahead Alcoa projected global demand for aluminum to rise seven per cent in 2014 the same pace the industry benefited from last year This year Alcoa sees growth from the aerospace automotive and building and construction markets more than offsetting a decline in the industrial gas turbine market because of lower orders Alcoa s results have been stung by flagging raw aluminum prices driven by global oversupply In response the company has cut production costs by closing expensive smelters Alcoa also has focused on making high strength lightweight aluminum products

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/resources-and-energy/alcoa-swings-q4-loss (2014-01-12)
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  • Alcoa, Alumina to pay $430m over bribes | Business Spectator
    proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Alcoa Alumina to pay 430m over bribes 10 Jan 1 59 AM 1 Industries Resources and Energy US firm faces mammoth fine for alleged bribes to Bahrain officials You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AFP Aluminum giant Alcoa will pay US384 million A432 million to settle charges it paid Bahrain officials huge bribes to secure business in the Gulf nation United States Justice officials have announced Alcoa unit Alcoa World Alumina was accused of paying millions of dollars in bribes via a London middleman in an arrangement made at the request of certain members of Bahrain s royal family the Justice department said in a statement Alumina Ltd the Australian mining company that holds a minority stake in Alcoa World Alumina is paying 15 per cent of the costs related to the bribery probe Alcoa said Operating through a shell company the London broker marked up the price of alumina sold to a Bahrain government controlled company by US188 million from 2005 to 2009 the Justice Department said The consultant allegedly paid tens of millions in corrupt kickbacks to Bahrain government officials and royal family members using bank accounts held under aliases in Switzerland and other countries Alcoa World Alumina LLC AWA a subsidiary of a joint venture between Alcoa Inc and Alumina Ltd agreed to plead guilty to one count of violating the anti bribery provisions of the US Foreign Corrupt Practices Act An Alcoa statement said the company welcomes the resolution of this legacy legal matter with the US Government Alcoa said it will record a charge of US288 million to account for the settlements Alcoa said it cooperated with the investigation led by Justice and the Securities and Exchange Commission There is no allegation in the filings by the DOJ and there is no finding by the SEC that anyone at Alcoa knowingly engaged in the conduct at issue Alcoa said Print this page Related articles 10 Jan OM

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/resources-and-energy/alcoa-alumina-pay-430m-over-bribes (2014-01-12)
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  • Israel's Sharon dead at 85 | Business Spectator
    Sharon who was both admired and reviled for his uncompromising style and whose death drew emotional reactions even after eight years in a coma Celebrated as a military hero by some recognised as a pragmatic politician by others and despised as a bloodthirsty criminal by his foes Sharon was a polarising figure at home and abroad But Israelis of all stripes acknowledged Sharon as a key figure in their country s history whose death at 85 on Saturday left President Shimon Peres as the Jewish state s last surviving founding father Sharon s body was to lie in state on Sunday at Jerusalem s Knesset or parliament a statement from the prime minister s office said Sharon will be buried on Monday afternoon at his property in the Negev desert in southern Israel in a military ceremony He had been comatose since January 4 2006 after a massive stroke His condition took a sudden turn for the worse on New Year s Day when he suffered serious kidney problems after surgery Prime Minister Benjamin Netanyahu said his memory will forever be held in the heart of the nation while Peres said he would be greatly missed World leaders also sent condolences US President Barack Obama described him as a leader who dedicated his life to the State of Israel Vice President Joe Biden will lead a US delegation to the memorial service due to be held in parliament before the burial US Secretary of State John Kerry who is leading efforts to broker an Israeli Palestinian peace deal remembered Sharon warmly as a big bear of a man who in his final years surprised many in his pursuit of peace Sharon was once known chiefly as a ruthless military leader who fought in all Israel s major wars before switching to politics in 1973 and championing the development of Jewish settlements in the occupied Palestinian territories He was long considered a pariah for his personal but indirect responsibility in the 1982 massacre of hundreds of Palestinians by Israel s Lebanese Phalangist allies in Beirut s Sabra and Shatila refugee camps His early career as a warrior earned him the moniker the Bulldozer but most world leaders chose to remember the politician who surprised many by overseeing the dismantling of settlements from Gaza in 2005 United Nations Secretary General Ban Ki moon urged Israel to build on his legacy of pragmatism to achieve a viable Palestinian state The Palestinians were quick to welcome the news of his death which prompted an outburst of celebration in the Gaza Strip controlled by the Islamist Hamas movement The hardline group said Sharon s death was a historic moment marking the disappearance of a criminal whose hands were covered with Palestinian blood In the West Bank city of Ramallah Jibril Rajub a senior official with the more moderate Fatah organisation also welcomed Sharon s death blaming him for the still unexplained 2004 death of Yasser Arafat Sharon was a criminal responsible for the assassination of

    Original URL path: http://www.businessspectator.com.au/news/2014/1/12/international-news/israels-sharon-dead-85 (2014-01-12)
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  • Forge enters trading halt | Business Spectator
    economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Forge enters trading halt 10 Jan 9 24 AM 2 Industries Resources and Energy Markets ASX Mining services company set to update market on its current financial position You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter Forge Group Ltd has requested its shares be placed in a trading halt as it prepares to update the market on its financial position In a statement to the Australian Securities Exchange Forge requested the halt remain in place until the earlier of the announcement being made or the commencement of trade next Tuesday January 14 The news comes after it was last week revealed Investment manager BlackRock Group had taken a stake in the mining services company after it secured more work at Gina Rinehart s Roy Hill iron ore mine in Western Australia In a statement Forge said BlackRock s voting power was 5 32 per cent Forge shares soared over 54 per cent after it announced it it had received formal notification to proceed with phase three of construction of the 1 47 billion processing facility at Roy Hill The surge followed Forge s 83 per cent drop in late November after emerging from an extended trading halt to inform the market of a 127 million writedown Print this page Related articles 10 Jan OM Holdings CEO resigns 10 Jan Korea China jostle for Aust resources 10 Jan Fed govt should support Alcoa ALP 10 Jan Solar and wind competitive with fossil fuels Gov t economist 10 Jan Shares in Kimberley Diamonds shine More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Ashley G Ali Sat 2014 01 11 23

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/resources-and-energy/forge-enters-trading-halt (2014-01-12)
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  • NAB UK exit expected soon | Business Spectator
    news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Optimism surrounding a potential exit from Britain by National Australia Bank continues to grow as deal making conditions improve and the economy picks up steam Ahead of NAB s first quarter update next month expectations are growing that chief executive Cameron Clyne may this year free himself of the bank s troubled British operations which have hamstrung the group throughout his five year tenure Analysts at Macquarie and JPMorgan yesterday added their voices telling clients the British government s partial selldown in Lloyds Bank and the better prices being paid for commercial real estate debt showed conditions for an exit by NAB were improving But while unlikely given an expected pushback from investors some investment bankers said the improving British economy could also result in Mr Clyne cheaply expanding NAB s presence by making a move on rivals It is understood however that Mr Clyne who has been chief executive since the start of 2009 has no appetite for expansion in Britain sources said There s no question it would have made life substantially easier if we tossed it over on January 1 2009 he said last year adding the best course was to ride through the cycle rather than sell at a large loss NAB entered Britain in 1987 after buying Clydesdale Bank acquiring Yorkshire Bank a few years later After years of the British operations weighing on the group s return on equity analysts have recently increased calls for an exit to free up capital and stop clouding NAB s performing Australian business Broker Credit Suisse has pencilled in newsflow about Britain this year saying the recent appointment of Craig Drummond as NAB chief financial officer could be a trigger The successful partial sale of Lloyds in 2013 alongside recent improvements in transaction volumes may suggest the path to a successful UK exit may be becoming clearer said JPMorgan analyst Scott Manning Macquarie analyst Mike Wiblin noted prices being paid for impaired commercial real estate portfolios in Britain were improving He said there was a real chance NAB would benefit from write backs this year in its impaired and performing books of CRE loans mostly within Clydesdale NAB remains committed to its plan to sell the UK franchise but not at any price Mr Wiblin said Given an improving UK macro environment it may well be that it can get a better price this year But uncertainties remain including the strength of the British economy s recovery and customer redress issues after the mis selling of products Print this page More from Michael Bennet The Australian 09 Jan Boost Juice nears sale report 20 Dec UBS takes title as best bank 09 Dec Coates Offshore draws offers 09 Oct Westpac poised to buy Lloyds remaining lending books 04 Oct Wood

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/dataroom/nab-uk-exit-expected-soon (2014-01-12)
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  • NAB could consider MLC split: report | Business Spectator
    2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu NAB could consider MLC split report 10 Jan 7 03 AM 2 DataRoom Industries Financial Services Analysts suggest bank could offload part of its wealth management arm You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Analysts have speculated that National Australia Bank Ltd could offload part of wealth management arm MLC according to The Australian Financial Review Nomura bank analyst Victor German said all the banks could be in line to radically change their wealth management operations though NAB s MLC business made the most sense for a shake up I can see a scenario where all banks not just NAB will potentially look to divest the underwriting businesses he told the AFR MLC is one of the more obvious candidates I guess the question is can they potentially divest part of the business and still retain exposure to the growth area of wealth via distribution The news comes amid suggestions from analysts that the bank may rid itself of its United Kingdom business this year NAB purchased MLC for 4 56 billion in 2000 Print this page Related articles 08 Jan New bank rules help small lenders 07 Jan Planners to have strong 2014 07 Jan Investment banks reformed Rankin 06 Jan JPMorgan to pay 2bn in Madoff probe 03 Jan Super posts best returns in 13 yrs More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Ashley G Ali Sat 2014 01 11 23 14 Follow guide we have for you and you can make 90 dollars every hour Our agents earn around 12k a month Join them and start working from comfort

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/financial-services/nab-could-consider-mlc-split-report (2014-01-12)
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