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  • Eurozone confidence lifts | Business Spectator
    of 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 Eurozone confidence lifts 9 Jan 11 04 PM Economy Global News European Crisis Economic sentiment in region surged to two year high in December 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 Economic sentiment across the eurozone rose to a more than two year high in December in another sign that the recovery is beginning to take hold after a prolonged down turn Data published Thursday by the European Commission support a growing list of statistics pointing to improved spending and business confidence with the body s economic sentiment indicator hitting the long run average level of 100 0 in December That s the highest since July 2011 and up from 98 4 in November The rise was broad based with all sectors showing improvement in December from November Notably confidence among service providers moved into positive territory for the first time since August 2011 while industrial companies were the second most confident The figures follow upbeat retail sales data Wednesday while unemployment appears to have stabilised it remained at 12 1 per cent in November for an eighth straight month in a sign that the economic growth the 17 country eurozone eked out in the third quarter may have expanded in the final three months of 2013 The commission figures also highlight that growth came from an increased number of countries While Germany s economic sentiment was among the most robust at 106 0 in December in Spain the measure rose to 100 0 while Italy posted an increase to 96 2 from November s 93 9 The monthly survey also confirmed the increase in consumer confidence to 13 6 in December from November s 15 4 reported in the preliminary survey while retailers were also less downbeat

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/european-crisis/eurozone-confidence-lifts (2014-01-12)
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  • Fed taper due to jobs growth: minutes | Business Spectator
    Rates Minutes of board meeting suggest taper support not as strong as thought concerns on inflation rate 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 An improving United States job market convinced Federal Reserve officials last month to begin scaling back their bond buying program despite some scepticism from some worried the recovery might be too fragile minutes of their December policy meeting showed As top policymakers began to see the risks to the economic outlook as increasingly balanced most agreed that the time was right to cut the bond purchases to US75 billion a month from US85 billion Fed officials have since indicated they expect a steady reduction over the course of this year barring any major economic disruptions Most members agreed that the cumulative improvement in labour market conditions and the likelihood that the improvement would be sustained indicated that the Committee could appropriately begin to slow the pace of its asset purchases at this meeting according to minutes of the meeting released Wednesday with the customary three week lag One concern for officials on the Fed s policy committee was low and falling US inflation which is now well below the central bank s 2 per cent target Officials repeated that they expected consumer prices would pick up this year along with economic activity but they appeared less certain about that forecast Inflation was running below the Committee s longer run objective and this was seen as posing possible risks to economic performance the minutes said Many members saw a need for the Committee to monitor inflation developments carefully for evidence that inflation was moving back toward its longer run objective Others also expressed concern about indicators of persistent labour market weakness including low workforce participation For some considerable slack remaining in the labour market and shortfall of inflation from the Committee s long run objective warranted continuing asset purchases at the current pace for a time in order to wait for further progress toward those objectives the minutes said This suggests the sentiment in favour of trimming bond purchases was not as close to unanimous as the 9 to 1 vote suggested Seventeen officials participated in the policy discussion but just ten were voting members The Fed was also worried following a sharp spike in rates during the summer that its decision to reduce bond buys might be interpreted at moving forward the date of an eventual interest rate increase Officials went out of their way to reassure markets that this was not the case Many members judged that the Committee should proceed cautiously in taking its first action to reduce the pace

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/us-economy/fed-taper-due-jobs-growth-minutes (2014-01-12)
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  • Greece to claim EU presidency | Business Spectator
    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 Greece to claim EU presidency 9 Jan 5 51 AM Economy Global News European Crisis Rotating presidency to be assumed by recession hit Greece 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 AP Authorities have shut down roads and deployed riot police in central Athens as Greece prepares to formally assume the European Union s rotating six month presidency with a ceremony to be attended by EU commissioners Events kicked off early on Wednesday afternoon with a visit by the commissioners led by Commission President Jose Manuel Barroso to the capital s Zappeion conference centre ahead of the evening opening ceremony to be held at the Athens Concert Hall A subway station near the concert hall was to close for several hours ahead of the ceremony while a helicopter hovered overhead as Prime Minister Antonis Samaras showed Barroso and the other commissioners around Zappeion More than 2000 police were on duty for the events A left wing group has vowed to defy an 18 hour ban on protests in the city centre calling for a rally in central Athens shortly before the official ceremony is due to begin Alexis Tsipras head of the main opposition radical left Syriza party has said he will not attend the events drawing criticism from the governing two party coalition Financially crippled Greece has been surviving on rescue loans from other European countries and the International Monetary Fund since May 2010 and the harsh austerity imposed in return for the bailout has led to deep resentment among many Greeks Athens hopes to emerge from a gruelling six year recession during its presidency and negotiate a landmark deal with bailout creditors to make its massive national debt sustainable It has said it aims to focus its presidency on the issues of unemployment economic growth and the EU s migration policy all issues that

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/european-crisis/greece-claim-eu-presidency (2014-01-12)
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  • Brazil at risk of credit downgrade | Business Spectator
    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 Brazil at risk of credit downgrade 9 Jan 4 41 AM Economy Global News S P says Brazil downgrade possible this year ahead of October elections 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 Standard and Poor s is mulling a potential credit downgrade for Brazil ahead of the country s October presidential elections media reports say We are not going to tie our hands just because Brazil is holding general elections There is a possibility of a downgrade for Brazil this year the credit firm s senior director Joydeep Mukherji said on Wednesday during a round table with journalists in New York Mukherji stressed however that S P analysts did not currently plan to meet to discuss the issue adding that Brazil would continue to enjoy investment grade status Amid growth fears S P put Brazil on BBB negative last June BBB being the second lowest investment grade but maintained its long term term forecast for the world s seventh largest economy On Monday Moody s rating agency confirmed a debt rating for Brazil of Baa2 reflecting moderate credit risk but still inside investment grade with a stable outlook The agency sees growth potential for Brazil of 3 0 per cent but forecasts 2 0 per cent in 2014 Moody s amended its Brazil forecast from positive to stable in September warning that the country s debt to GDP could rise from 60 to 62 per cent this year Brazil s Central Bank last month revised downwards its 2013 forecast 2 5 per cent to 2 3 per cent The O Estado de Sao Paulo daily said the Fitch agency indicated it would hold Brazil s rating at BBB with a stable outlook Finance Minister Guido Mantega said last week he believed higher investment and

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/global-news/brazil-risk-credit-downgrade (2014-01-12)
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  • US urges German investment | Business Spectator
    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 US urges German investment 9 Jan 3 06 AM Economy Global News European Crisis Treasury Secretary calls on Germany to further drive eurozone recovery 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 United States Treasury Secretary Jacob Lew has called for export powerhouse Germany to spur domestic demand and find the right balance to help drive European and global growth We think policies that promote more domestic investment and demand would be good for the German economy the global economy Lew told reporters after talks with Finance Minister Wolfgang Schaeuble Kicking off by expressing US President Barack Obama s wishes for Chancellor Angela Merkel s speedy recovery after she fractured her pelvis cross country skiing Lew said that Washington and Berlin shared the goal of growth and reform And he said that getting the balance right is very important We ve made very clear that we think that more domestic demand and investment would be a good thing he said during a brief stop in Germany He is on the middle stop of a three nation European tour which took in Paris on Tuesday and will continue on to Lisbon later on Wednesday The meeting comes just hours after new trade data showed that German exports are still growing while imports are shrinking and several months after clear differences were exposed between Berlin and its fellow export giant the US over economic policy The US Treasury criticised Europe s biggest economy in its semi annual report in October for not doing enough to help boost the global economy saying it needed to tap its surpluses to kickstart domestic demand and singling out its reliance on exports Berlin in turn tersely rebutted as not comprehensible the US report which criticised the country s dependence on exports and domestic demand growth as anaemic at a time when Germany could be helping the eurozone pull back from deflation Schaeuble for his part defended Germany s policy on Wednesday stressing that German growth was driven by domestic

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/european-crisis/us-urges-german-investment (2014-01-12)
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  • EU in talks on bank rules | Business Spectator
    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 EU in talks on bank rules 9 Jan 1 40 AM Industries Financial Services Economy Global News European Crisis Eurozone looking toward new bank regulatory system in wake of crisis 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 The European Parliament has launched tough negotiations with EU member states on enacting a new bank regulatory system meant to prevent any repetition of the financial crisis An agreement is needed before elections in May A parliamentary statement foreseeing that the talks would be tough said that positions are far apart with MEPs insisting that the system must not be cumbersome or vulnerable to political back room deals European finance ministers agreed in December what is known as a Single Resolution Mechanism designed to step in and close down a failing bank before it can do too much damage to the economy The crucial issue was who would run the SRM and how it would be paid for in the event it is the most powerful EU states such as Germany which will likely have most say in any decision to close a bank Meanwhile a back up fund levied on the banks themselves will be phased in over 10 years until it totals 55 billion A84 6 billion but this arrangement will be covered by bilateral treaties and so will be beyond Parliament s oversight When the deal was approved by EU leaders last month European Parliament head Martin Schulz warned that they would face very long negotiations as the proposal fell very far from what politicians wanted He specifically complained about the complex legal basis which could slow down the SRM s work when speed is essential and of the way the SRM fund was set up which he judged to be unacceptable Wednesday s brief statement noted that Schulz and the MEP leading the negotiations Elisa Ferreira had

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/european-crisis/eu-talks-bank-rules (2014-01-12)
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  • US private sector jobs jump | Business Spectator
    Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 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 US private sector jobs jump 9 Jan 1 15 AM Economy Global News US Economy Latest report shows December had strongest growth of year tops estimates 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 United States private sector job growth surged in December topping November for the strongest pace of the year with a net new 238 000 jobs added payrolls firm ADP says The number came in well above the consensus estimate of 203 000 and suggested possibly strong job growth numbers to come in Friday s December labour report ADP sharply revised its November number higher to 229 000 net new jobs from the prior estimate of 215 000 The job gains in December were broad based across industries ADP reported on Wednesday Construction added 48 000 jobs its best month since 2006 Manufacturing gains remained strong but growth slowed a bit to 19 000 The job market ended 2013 on a high note Job growth meaningfully accelerated and is now over 200 000 per month said Mark Zandi chief economist of Moody s Analytics which helps compile the data It appears that businesses are growing more confident and increasing their hiring The upbeat ADP report came ahead of the Labor Department s December jobs and unemployment data on Friday Analysts on average expect job growth in both the private and public sectors of 197 000 in December down from 203 000 in November and the unemployment rate to hold unchanged at 7 0 per cent While we ve been thrown off often before by an overly exuberant or under ADP the fact that the other surveys are suggesting that hiring is generally picking up points to

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/us-economy/us-private-sector-jobs-jump (2014-01-12)
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  • UK house prices up 7.5% | Business Spectator
    Marking the milestones of 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 UK house prices up 7 5 8 Jan 11 50 PM Economy Global News European Crisis Price growth for 2013 a sign of economic recovery in Britain 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 British house prices rose strongly last year a key survey showed on Wednesday with the market boosted by rising demand amid recovering economic growth Prices rallied 7 5 per cent in December 2013 compared with the level in December 2012 according to a survey by lender Halifax which is part of the state rescued Lloyds Banking Group However on a monthly basis house prices fell by 0 6 per cent in December from November That was the first drop for 11 months and took the average property price to STG173 467 A321 027 11 The nation s property market was also bolstered last year by government stimulus programs and record low interest rates analysts said The revival in house prices over 2013 is due to a sharp rise in housing demand coupled with a very subdued supply of homes coming onto the market said Capital Economics analyst Matthew Pointon That has led to very tight market conditions and put the ball firmly in the seller s court homes are selling faster and at a price much closer to the asking price He added Demand has been bolstered by record low rates government schemes and fears that house prices are about to take off Halifax forecast that prices will rise by between 4 0 and 8 0 per cent during 2014 Mounting signs that the economic recovery is becoming firmly established together with a predicted decline in unemployment should further boost consumer confidence over the coming months said Halifax housing economist Martin Ellis Wednesday

    Original URL path: http://www.businessspectator.com.au/news/2014/1/8/european-crisis/uk-house-prices-75 (2014-01-12)
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