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  • Business TV | Business Spectator
    payrolls during an unseasonably cold winter The taper will go ahead but there may be some bumps in the labour market recovery Markets ASX ASX Indices Major ASX stocks Markets Spectator Currency ETFs Latest stories Scoreboard Dollar bounce US payrolls figures came in well below expectations on Friday while the Australian dollar is back to US90 cents Value Investor QBE is still at a premium There is potentially more fallout to come from QBE s ill fated expansion into the US Given its history of disappointment a clean set of financial numbers is needed to restore confidence Politics Australian Election Federal Budget International News Asia Europe USA National Affairs Latest stories Gagging visas are an attack on democracy The skyrocketing price of a journalist visa for Nauru will limit coverage of Australian prisoners on a vassal state It is an insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories REVIEW Nokia Lumia 1520 The Nokia 1520 sports a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon

    Original URL path: http://www.businessspectator.com.au/businesstv?destination=node/12705%3Fchannel%3D149816 (2014-01-13)
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  • Too little, too late: Is Australia losing the online retail game? | Business Spectator
    headlines this increase comes from a very low base with digital commerce now accounting for a mere 1 per cent of the retail giant s total sales figure From a warehouse in California NAB s Online Retail Sales Index puts the proportion of online retail at 6 3 per cent of bricks and mortar consumer retail spending But recent figures from the Australian Bureau of Statistics should worry local retailers Australian consumers spend more money online with overseas retailers than with their domestic counterparts Australian retailers have to come to grips with the new reality of a global marketplace and strong competition from overseas internet giants like Amazon or fashion retailer ASOS Easy access convenience and price transparency of digital commerce are only some factors explaining the trend others lie in the strong Australian dollar and a relatively high threshold for GST free overseas purchases much complained about by the local retail sector Motivated by these trends in a recent study we have investigated the state of play in Australian Digital Commerce Using a catalogue of 63 single criteria we have evaluated in detail the digital presences of 89 Australian retailers Taking the consumer point of view for each retailer we recorded if they utilise certain digital commerce tools techniques or features This allows us to draw conclusions about the maturity of digital commerce in Australian retail The four dimensions of digital commerce Our evaluation spans four dimensions The informational dimension is the most basic category It covers the ways in which retailers provide information about product portfolio and shopping process The transactional dimension is what turns websites into e commerce It comprises features such as shopping basket delivery payment and financing options The relational dimension marks the evolution from transaction focused e commerce to relationship building with customers These include personalisation recommender systems and features that allow customers to interact with the retailer The social dimension is the latest addition to the digital commerce portfolio It includes integration with various social media platforms and features that allow customers to create and review content or recommend products to friends Most Australian retailers have achieved a reasonable level of maturity in the basics of e commerce with a good coverage in the informational and transactional dimensions Australian retailers have also been quick to embrace social media where most companies have created some form of presence in various channels such as Twitter Facebook Instagram or Youtube even though this is most often used for driving the company s marketing message Relationships are hard work The most striking result from our analysis is that retailers across all sectors are slow to embrace the relational dimension This is a worrying finding It means that while many retailers have leaped into social media to promote their services most have not invested much in building 1 to 1 relationships with their existing customers This is necessary however for growing a customer base that allows reaping the benefits from repeat purchases cross selling and up selling In

    Original URL path: http://www.businessspectator.com.au/article/2013/11/19/technology/too-little-too-late-australia-losing-online-retail-game (2014-01-13)
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  • Kai Riemer | Business Spectator
    fallout to come from QBE s ill fated expansion into the US Given its history of disappointment a clean set of financial numbers is needed to restore confidence Politics Australian Election Federal Budget International News Asia Europe USA National Affairs Latest stories Gagging visas are an attack on democracy The skyrocketing price of a journalist visa for Nauru will limit coverage of Australian prisoners on a vassal state It is an insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories REVIEW Nokia Lumia 1520 The Nokia 1520 sports a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Solar s grim 2014 five headwinds await Power price stabilisation a falling dollar and million roof rebate doubts are among reasons Australian solar may struggle in the year ahead Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis 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 Kai Riemer Too little too late Is Australia losing the online retail game Australians are embracing e commerce but unlike their overseas counterparts our retailers are struggling to build lasting relationships with their customers by Kai Riemer 5 33am November 19 2 comments Search Markets Global Indices Index Last Chg Chg DOW JONES 16437 05 7 7 S P 500 1842 37 4 2 0 2 NASDAQ 4174 66 18 5 0 4 FTSE 100 6739 94 48 6 0 7 NIKKEI 15912 06 31 7 0 2 Hang Seng 22846 25 58 9 0 3 The Spectators What s behind China s debt spiral Peter Cai 34 min ago China

    Original URL path: http://www.businessspectator.com.au/contributor/kai-riemer (2014-01-13)
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  • A Morgan Stanley banking salve | Business Spectator
    has led to inaccurate perceptions of the banking sector The crisis wasn t because our banks were too big he starts his answer to the question of size The smallest of the bigger institutions were the ones that got into trouble In fact it was the big banks that the government went to for help to bailout these troubled banks to make them bigger It s clear the notion of smaller banks irks the typically restrained Gorman Why America would want to cede our banking leadership to other nations just because we want to be smaller makes no sense to me he reveals Gorman describes as an inconvenient truth the fact most other countries have far more concentrated banking sectors than America s pointing to his homeland as a prime example Australia s got four monster banks sitting down there and they re very well run and they do a very good job he asserts No bank in the US has more than 10 per cent of deposits yet Australia s big four essentially have around 85 per cent Like the overhyped size worries complexity built within banking structures was not to blame in Gorman s view Complexity alone does not render a business unmanageable Still in hindsight there was a glitch within several of the large banks They operated as hybrid partnerships where their capital was their money but suddenly became public companies he explains But they didn t necessarily behave or put in place the gates that you would if you were a true public company Essentially stuck in partnership mode many of the banks had not properly grown up as public entities but this wasn t the only managerial failing Why did some institutions fail and not others Gorman asks It wasn t totally random because in many cases management did stupid things Either they had levered a particular type of asset in heavy concentration or they had decided to aggressively expand by buying institutions they frankly hadn t done their diligence on The broader community is now asking whether lessons have really been learnt given salaries are once again surging profits are again rising and asset prices are soaring Gorman makes a compelling case for the affirmative certain the experience of the financial crisis has not been wasted by the industry or regulators I don t think it s well understood just how robust this response has been from our regulators he contends adding that regulatory change has happened very aggressively As Gorman explains it regulators have put in front end and back end protectors In the former this includes higher capital ratios reduced leverage and improved liquidity Our liquidity at the time of the crisis was about 80 billion on a balance sheet of 1 25 trillion It s now about 180 billion on a balance sheet of 800 billion he offers as an example Our leverage at the time was around 35 times it s now around 12 Our capital was 30 billion it

    Original URL path: http://www.businessspectator.com.au/article/2013/11/4/financial-services/morgan-stanley-banking-salve (2014-01-13)
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  • Why 'Breaking Up' was good for NAB | Business Spectator
    the tunnel is starting to brighten for Cameron Clyne and National Australia Bank shareholders The UK legacy he inherited even as the financial crisis erupted has disfigured NAB s results and coloured assessments of his tenure But both the good and the bad banks NAB owns in the UK are beginning to quite sharply improve their performances off ugly bases in response to NAB s major restructurings and promising signs of improvement in the UK economy It was the lessening of the drag from the UK a continuing reduction in bad debts within the core Australian business bank solid earnings growth in wholesale banking and most notably the stellar performance of NAB s personal banking business the floundering segment of NAB s Australian business pre Clyne that underpinned NAB s solid 9 3 per cent increase in cash earnings in the year to September The good or ongoing part of NAB s UK banking exposures lost 213 million last financial year In the latest year it made 150 million with the momentum in earnings surging in the second half as the external environment improved The bad bank or the commercial real estate portfolio that Clyne separated from the ongoing UK business and put on the parent entity s balance sheet lost 375 million But the losses in the second half were about 42 per cent lower than in the first half and there has been definite improvement in the depressed UK commercial property market That portfolio while still large at about 6 8 billion is in run off and was reduced by about 2 7 billion over the year Should the UK economy and property markets continue to improve the winding back of that portfolio could accelerate This could allow Clyne to have more options not just for dealing with his bad bank but perhaps in relation to the ongoing UK operations While the UK exposures are a blemish on NAB s results and its returns on equity a respectable 14 5 per cent in the latest result Clyne would be particularly satisfied with the performance of NAB s personal banking business which was rapidly becoming irrelevant in the market until the controversial Breaking Up campaign In the year to September it improved its cash earnings 17 5 per cent to 1 22 billion The winding back of the price driven promotion last year boosted the net interest margin and strong cost control the cost to income ratio improved from 51 5 per cent to 47 2 per cent and above system growth in mortgage lending all contributed to the result Since Clyne initiated the growth strategy within the personal banking business it has generated 18 per cent compound annual growth in cash earnings and materially lifted its share of the mortgage market In conditions where demand for credit particularly from business is subdued NAB s core franchise its business bank lifted earnings a modest 3 3 per cent largely as a result of reduced bad and doubtful debt charges

    Original URL path: http://www.businessspectator.com.au/article/2013/10/31/financial-services/why-breaking-was-good-nab (2014-01-13)
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  • Beware dead wood in retail’s root-and-branch review | Business Spectator
    schemes on competitor fuel retailers while Billson was also concerned about the pressure on suppliers and the longer term impact on grocery prices Even if the debate was confined to the supermarkets and their supply chain the issues that need to be canvassed go well beyond the extent of the market power of the two big chains and into a broader discussion about the scale efficiency and productivity of the supply chain including agribusinesses and processors One only has to look at a topical sector dairy to compare Australia s shrinking share of global export markets which halved in the decade to 2012 with the performance of New Zealand s industry which increased its share from 30 per cent to 37 per cent over the same period The discussion would also need to include an examination of the structural changes occurring in retail both here and offshore This would include the supply chains of Aldi Metcash and Costco and the role that technology plays in re shaping the competitive environment While its terms of reference have yet to be released Billson s planned review is of competition law generally He has indicated that it won t just look through a legal lens but will consider the structural issues that might relate to the competitiveness of the Australian economy While there are those in Canberra and elsewhere who tend to look at competition as an unequal contest between big business and small business the influences on competition and competitiveness go way beyond that It includes the role and cost of government and regulation the management of the economy the tax system the quality of infrastructure and workplace productivity If the Abbott government is truly serious about improving the competitiveness of the Australian economy as well as ensuring fair but fierce competition within it all those issues and more would need to be considered with an eye to the rapidly evolving global context The root and branch review shouldn t just be a reprise of the Dawson Committee s 1993 inquiry into the Trade Practices Act It should be an amalgam of that kind of review of the law with something akin to the Hilmer Review of national competition policy a decade earlier than Dawson with an extra emphasis on national competitiveness Billson said today that he hopes to release the draft terms of reference and appoint a senior business person to chair the review shortly with the review itself to get under way next year The identity of the chair will be critical to the outcome of the review and perhaps provide some insight into the broad direction of the outcomes the government would like from it A David Crawford or David Murray who s probably going to have his hands full with the financial system inquiry where he s the hot tip to be chair would be the obvious prototypes for an appropriately qualified chair There will also need to be a senior economist with competition policy expertise Stephen King

    Original URL path: http://www.businessspectator.com.au/article/2013/10/30/industries/beware-dead-wood-retails-root-and-branch-review (2014-01-13)
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  • Markets: Shopping for new customers | Business Spectator
    five headwinds await Power price stabilisation a falling dollar and million roof rebate doubts are among reasons Australian solar may struggle in the year ahead Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis 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 Markets Shopping for new customers Kirstie Spicer 9 Sep 2013 3 14 PM 1 Industries Financial Services Markets ASX Commercial Adapt or Die Knowledge Hub Retail Financial Services Wesfarmers bid to take on the Big Four with its own banking products will give Coles a big advantage in collecting customer data 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 foray into offering banking solutions is a convenient way for Coles to find out more information about its customers and how they spend their money A data collection solution perhaps Having a change in government banks and depositors alike would be eager to know if the bank deposit levy will still be implemented Either way Wesfarmers brand Coles looks set to challenge Australia s banks with reports it is seeking a formal banking licence from the regulator the Australian Prudential Regulation Authority APRA As a group Wesfarmers is established in offering financial products already providing car and home insurance In addition credit cards are offered through their affiliation with GE Capital Finance Adding a banking licence will continue to diversify the suite of financial products but it will fall well short of a one stop shop for all your financial needs Internationally British supermarket chain Tesco has a similar offering under the Tesco Bank brand Since splitting from a partnership with Royal Bank of Scotland in 2008 it has been able to continue developing its banking brand Today it has over 6 6 million customer accounts and policies Tesco Bank contributed a tidy 5 5 per cent of group trading profits in the latest financial year as well as a 13 per cent increase in trading profit Coles hasn t confirmed its application for a banking licence but it would make sense to follow a similar strategy to Tesco which has brought about years of success The

    Original URL path: http://www.businessspectator.com.au/article/2013/9/9/markets/markets-shopping-new-customers (2014-01-13)
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  • Clean up coal or abandon it? | Business Spectator
    gas price of 12 per GJ would mean 100 per cent renewables was competitive with a CCGT scenario With no emissions being captured the cost of the CCGT scenario rises sharply with an escalating carbon price The CCGT CCS scenarios are much more costly than the 100 per cent renewables scenario unless the gas price is lower than 9 per GJ At a carbon price of 60 per tonne none of the fossil fuel scenarios has a lower annual cost than the 100 per cent renewables scenario Gas contracts on the eastern seaboard are already reportedly being struck at 9 GJ and Santos has moved to value its eastern seaboard gas resources assuming this price If oil prices were to rise further LNG contracts are linked to oil prices and the exchange rate was to depreciate further then 12 GJ is not beyond the realm of possibility certainly by 2030 CORRECTION An earlier version of this article used charts and estimates from an earlier version of the paper written by Elliston Diesendorf and MacGill These were revised in the final paper and the revised charts and results have been included in the corrected version of this article Print this page Clean up coal or abandon it Tristan Edis 5 Sep 2013 12 29 PM 8 Climate Renewable energy Commercial Adapt or Die Knowledge Hub Natural Resources More from Tristan Edis 13 Jan Solar s grim 2014 five headwinds await 10 Jan Marking the milestones of 2013 09 Jan Five good things about Direct Action 09 Jan Pinning down the real money in a wind war 08 Jan Energy efficiency faces a political check in 2014 Related articles 13 Jan The nuclear renaissance is stone cold dead 13 Jan Qld seeks comment on massive farm project 13 Jan Protesters block NSW coal mine 13 Jan Hunt holds firm on RET 10 Jan Solar and wind competitive with fossil fuels Gov t economist More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Log in to post comments Comments Or you can reduce the amount Submitted by Francis Young on Thu 2013 09 05 15 11 Or you can reduce the amount of coal needed to produce steam for turbines Same outcome lower cost already proven http www austela com au newsletter 122 solar boost at liddell hunter v Log in to post comments Or you can switch to nuclear Submitted by Martin Nicholson on Thu 2013 09 05 16 35 Or you can switch to nuclear power proven and already in use Cheaper than 100 renewable energy http www businessspectator com au article 2013 8 21 energy markets how Log in to post comments Tristan outlines the costs of Submitted by John Martin on Thu 2013 09 05 16 12 Tristan outlines the costs of storing greenhouse gases underground ignoring the following 1 Log in to post comments Tristan outlines the costs of Submitted by John Martin on

    Original URL path: http://www.businessspectator.com.au/article/2013/9/5/renewable-energy/clean-coal-or-abandon-it (2014-01-13)
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