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  • G20 warns on global growth | Business Spectator
    Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu G20 warns on global growth 7 Sep 2013 2 55 AM Politics International News Economy Global News Asian Economy European Crisis Global Financial Crisis US Economy World leaders warn recovery remains weak emerging markets fragile 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 AAP G20 leaders have warned that global economic recovery is too weak with the risk of a further slowdown and some emerging markets showing particular fragility And they have backed a Saint Petersburg action plan to boost growth and employment In a reference to concerns by emerging markets about the tapering of stimulus programs they vowed on Friday that future changes to monetary policy settings will be carefully calibrated and clearly communicated Despite our actions the recovery is too weak and risks remain tilted to the downside the leaders said in their final communique after their two day meeting in Saint Petersburg shadowed by the Syria crisis Global growth prospects for 2013 have been marked down repeatedly over the last year global rebalancing is incomplete regional growth disparities remain wide and unemployment particularly among youth remains unacceptably high the statement said While there are signs of recovery in the euro area and growth has continued in emerging market economies it has slowed down in developing countries it added The statement appeared to recognise the need for central banks such as the US Federal Reserve eventually to end their monetary easing policies We remain mindful of the risks and unintended negative side effects of extended periods of monetary easing it said But it also added Our central banks have committed that future changes to monetary policy settings will continue to be carefully calibrated and clearly communicated In a meeting dogged by differences over the conflict in Syria the leaders of the world s top developed and emerging nations put an unified emphasis on growth and job creation The statement endorsed a Saint Petersburg action plan aimed at stimulating growth and creating jobs Our most urgent need is to increase the momentum of the global recovery generate higher growth and better jobs while strengthening the foundations for long term growth the communique said Countries should also avoid policies that could cause the recovery to falter or promote growth at other countries expense The currencies of Brazil and India have been under serious pressure due to expectations that the US Fed will taper its stimulus program while growth has been slowing even in China s powerhouse economy The priority is growth and jobs Sustainable growth and decent growth said European Commission chief Jose Manuel Barroso There

    Original URL path: http://www.businessspectator.com.au/news/2013/9/7/global-news/g20-warns-global-growth (2014-01-12)
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  • Economic risks remain: OECD | Business Spectator
    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 Economic risks remain OECD 4 Sep 2013 1 16 AM Economy Economy Australian News China Global News Asian Economy European Crisis Global Financial Crisis US Economy Global economy on the mend but still a long way from a sustainable 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 AAP Australia s next federal government faces a world that s still a long way from a sustainable economic recovery The Organisation for Economic Cooperation and Development s OECD latest report on the world s biggest economies says North America Japan and the United Kingdom are expanding while the euro area as a whole was no longer in recession Growth in China Australia s number one trading partner also appears to have passed a trough but recent financial market turbulence points to difficulties in a number of other emerging economies While the improvement in growth momentum in OECD economies is welcome a sustainable recovery is not yet firmly established and important risks remain the Paris based institution said in a 2013 economic update released on Tuesday The group s findings tally with the current Labor federal government s view that Australia continues to face economic headwinds from offshore that could dampen domestic growth The OECD believes the euro area remains vulnerable to renewed financial banking and sovereign debt tensions At the same time there are potential serious negative economic consequences if there s a repeat of earlier episodes of deadlock and brinkmanship over fiscal policy in the United States It also says there s a risk recent financial market volatility and strong capital outflows in some emerging economies could intensify exerting an additional drag on global growth As emerging economies contributed the bulk of global economic growth in recent years and since their share of global output has increased so much this widespread loss of momentum makes for sluggish near term growth prospects for the world economy the OECD says It believes major economies should keep interest rates low but also thinks the US Federal Reserve should gradually reduce its pace of quantitative easing by buying back

    Original URL path: http://www.businessspectator.com.au/news/2013/9/4/economy/economic-risks-remain-oecd (2014-01-12)
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  • UBS pays off GFC rescue loan | 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 UBS pays off GFC rescue loan 16 Aug 2013 10 45 PM Industries Financial Services Economy Global News Global Financial Crisis UBS free to repurchase once toxic assets after repaying SNB loan 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 AAP The Swiss National Bank SNB says a massive loan to rescue UBS bank during the financial crisis had been paid off and UBS could now repurchase its once toxic assets SNB said on Friday its so called stabilisation fund or StabFund had by Thursday completely paid off the last portion of a US25 8 billion loan issued in 2008 to save UBS which was among the global banks hardest hit by the crisis The completion of the final payment of 1 2 billion Swiss francs A1 43 billion means that UBS the biggest Swiss bank will now be permitted to go ahead with its plan to repurchase once toxic assets central bank spokesman Walter Meier told AFP The price will be set by independent agents who will assess the current value of the assets the central bank said in a statement UBS lost billions of dollars in the US subprime home loan crisis and the ensuing financial turmoil A collapse of the bank would have been catastrophic for the small Alpine country s economy In a rescue operation the central bank set up the StabFund to take over assets considered toxic worth US38 7 billion The central bank also pumped US3 9 billion into the bank which UBS has repaid to ensure its right to repurchase its assets once the loan had been reimbursed When it published its results last month UBS said it planned to take advantage of

    Original URL path: http://www.businessspectator.com.au/news/2013/8/16/ubs-pays-gfc-rescue-loan (2014-01-12)
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  • Developed nations on track: OECD | Business Spectator
    of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science 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 Developed nations on track OECD 9 Aug 2013 1 28 AM Economy Global News Asian Economy European Crisis Global Financial Crisis US Economy OECD praises advanced nations warns over emerging countries 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 AAP Leading developed economies are still on a track towards growth but among emerging economies China is showing increasing signs of slowing down the OECD says Among big emerging countries India is the only one where the economy continues to show tentative positive change in momentum The Organisation for Economic Cooperation and Development said in a monthly report on leading indicators on Thursday Both Russia and Brazil seem to be slowing the OECD said The OECD grouping 34 advanced countries said that in the eurozone signs of a pick up continues with particularly German growth on track to recovery In non eurozone Britain and in the US and Japan growth was firming But the OECD signalled a sluggish performance by France where it said that momentum was relatively stable Its composite index of leading indicators suggested that growth was close to trend rates in Canada For China it said indicators are now pointing to slowing momentum The outlook is based on index of leading indicators in major economies and is considered to be a reliable guide to future economic activity In a separate survey also on Thursday the European Central Bank said it still expected the eurozone to achieve growth this year and next but lowered its forecast due to weaker than expected demand in the

    Original URL path: http://www.businessspectator.com.au/news/2013/8/9/global-financial-crisis/developed-nations-track-oecd (2014-01-12)
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  • Don't pick and choose on regulation: Debelle | Business Spectator
    his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science 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 Don t pick and choose on regulation Debelle 7 Aug 2013 4 16 PM Economy Global News Global Financial Crisis RBA assistant governor continues to push for review of international regulatory changes 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 Reserve Bank of Australia assistant governor Guy Debelle is continuing to push for a review of international regulatory changes to the financial system saying Australia cannot pick and choose on reform Speaking at a conference in Sydney Dr Debelle stressed the need for a holistic review of global financial regulation to be performed at a global level He said Australia should not delay pick and choose on post GFC regulatory reform because it was part of the global financial system We do not have that luxury he said The Australian system is part of the global financial system we don t have the option to opt out when we feel like it The raft of reforms like the liquidity measures under Basel III addressed problems that originated outside Australia but that was not a sound argument for avoiding change he said The fact that the problems didn t happen here is also not a good argument for not implementing them he said I don t see the logic in not learning from what happened elsewhere rather than waiting to learn the lesson painfully ourselves Learning from others mistakes is a lot less painful approach to life Print this

    Original URL path: http://www.businessspectator.com.au/news/2013/8/7/global-financial-crisis/dont-pick-and-choose-regulation-debelle (2014-01-12)
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  • BoA may face civil charges | Business Spectator
    Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science 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 BoA may face civil charges 2 Aug 2013 11 27 AM Industries Financial Services Economy Global News Global Financial Crisis Commercial Adapt or Die Knowledge Hub Financial Services Bank of America expects charges on mortgage backed securities after investigations 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 AAP Bank of America may be facing civil charges over mortgage backed securities and other mortgage related matters The bank said in a regulatory filing on Thursday that the US Department of Justice told the company that it intends to file civil charges related to one or two jumbo prime securitisations The Securities and Exchange Commission SEC is also considering filing civil charges against Merrill Lynch tied to a collateralised debt obligation investigation Banks used to regularly package mortgages into bundles known as CDOs or collateralised debt obligations and then sell them off in pieces to investors Many went sour when the housing market collapsed Additionally the filing said that the New York Attorney General s office intends to file action against Merrill Lynch following an investigation of some of its residential mortgage backed securities Bank of America said that it was fully co operating with the investigations It also said it had been in active discussions with each government entity to explain why the threatened civil charges were not appropriate Company spokesman Lawrence Grayson said that the Bank of America had made progress resolving many issues and will continue to work to address any

    Original URL path: http://www.businessspectator.com.au/news/2013/8/2/financial-services/boa-may-face-civil-charges (2014-01-12)
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  • Aust problems a 'luxury': economist | Business Spectator
    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 Aust problems a luxury economist 1 Aug 2013 3 06 AM 3 Economy Economy Australian News China Global News Asian Economy European Crisis Global Financial Crisis US Economy Citi chief economist says Aust well equipped to manage downturn 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 A prominent economist has suggested Australian economic concerns should be seen within the broader context of problems elsewhere in the world arguing that the country is well equipped to manage a downturn according to The Australian Financial Review Citi global chief economist Willem Buiter said the global economy is at a crucial point as it witnesses a slowing of emerging market economies led by China and the strengthening of a United States economic recovery He indicated that China s credit and infrastructure boom is a cause for concern but stressed that Australia is not as troubled as some may be suggesting Australia s problems are luxury problems compared to the rest of the world Mr Buiter told the AFR If the economy were to get another unpleasant hit from China or elsewhere you have monetary ammunition and fiscal ammunition in the tank which would be of considerable envy to a finance minister in Europe He added that Australian banks dependence on home lending is a source of potential fragility the AFR added No carousel of other videos after the video ends Print this page Related articles 13 Jan Abbott to pursue red tape cuts 12 Jan Obama picks Fed vice chair 11 Jan US jobs growth slows sharply 10 Jan Korea China jostle for Aust resources 10 Jan China trade balance contracts More from Business Spectator Technology Adapt or die Commercial The Future of Energy

    Original URL path: http://www.businessspectator.com.au/news/2013/8/1/economy/aust-problems-luxury-economist (2014-01-12)
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  • UBS settles $US885m in claims | Business Spectator
    tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science 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 UBS settles US885m in claims 26 Jul 2013 11 59 AM Industries Financial Services Economy Global News Global Financial Crisis Group settles claims with US govt retains top research ranking 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 AAP with a staff reporter Swiss banking giant UBS is paying US885 million A963 11 million to settle United States government claims that UBS violated securities laws in its sales of mortgage backed bonds to Fannie Mae and Freddie Mac The Federal Housing Finance Agency which oversees the two government controlled mortgage finance companies announced the settlement on Thursday The agency had sued UBS and 17 other major banks over their sales to Fannie and Freddie of about US196 billion in mortgage securities that soured when the housing market collapsed in 2007 UBS will pay about US415 million to Fannie and US470 million to Freddie The FHFA said the deal means it has now reached settlements with three of the 18 banks it sued The agency previously settled with Citigroup and GE Capital The others include Bank of America and JPMorgan Chase Meanwhile UBS retained the ranking of best research house among 50 brokerages and investment banks in a survey by markets consultant East Coles Fairfax Media reported UBS has held the position for several years and dominates sectors including banking diversified minerals and gaming Print this page Related articles 07 Jan Investment

    Original URL path: http://www.businessspectator.com.au/news/2013/7/26/global-financial-crisis/ubs-settles-us885m-claims (2014-01-12)
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