QANTAS has followed up yesterday’s engineering job announcement with a major management shake-up in which its prosperous domestic and troubled international services will be split into separate business divisions. Chief executive Alan Joyce will head a revamped team, which will see the head of its successful Frequent Flyer program, Simon Hickey, drafted to guide International […]
More than 3000 coalminers have started a week-long strike in Queensland’s Bowen Basin as an 18-month dispute over working conditions rolls on. The strike began at 6am (AEST) on Thursday and will halt production at six mines run by BHP-Mitsubishi Alliance. Earlier this year, BMA said the industrial campaign was partly to blame for its […]
THE operators of the Hunter Valley’s Kurri Kurri aluminium smelter have flagged the closure of the plant, saying the carbon tax and other factors threaten its long-term profitability. Norwegian-based Norsk Hydro said a review of the smelter’s operations had confirmed the plant would not be profitable in the short-term, while “the long-term viability will be […]
Europe stocks skidded and the euro fell to a 21-month low on worries about Greece’s possible exit from the eurozone, which threatened to deepen the region’s debt crisis and hurt an already fragile global recovery. Nervous investors piled into low-risk US and German government debt, sending their yields lower. The US dollar also was favored […]
Myer is Australia’s version of the Facebook float. Like Facebook, its share sale was priced too aggressively, at $4.10 a share in November 2009. Its chief executive, Bernie Brookes, has been under pressure from the get-go. Facebook shares were 18 per cent below their $US38-a-share float price yesterday but Myer makes that look like a […]
She could buy two iPads for each of her fellow 22.9 million Australians, or eliminate world hunger for a year. If that should not appeal, she could play her own game of Monopoly with all the mansions in the nation’s most expensive address, Wolseley Road, Point Piper. Gina Rinehart has just become the richest woman […]
More than half of all Australians feel they have been personally affected the global downturn, despite the nation’s strong economy. Some 58 per cent of respondents said they believed they had been personally affected by the global financial crisis, which was nine percentage points more than last year, a survey by the Boston Consulting Group […]
Add Ina Drew to the list of prominent Wall Street women who have left their jobs. JPMorgan Chase said today that Ina Drew, head of the bank’s chief investment office, is retiring, following the disclosure of a $2 billion trading loss. The bank’s chief executive, Jamie Dimon, had urged her unit, which invests the bank’s cash, […]
AUSTRALIAN shares have closed slightly higher, driven by gains in the telecommunications and financial sectors. The benchmark ASX 200 index was up 11 points, or 0.28 per cent, at 4297 points, while the broader All Ordinaries index was up 9 points, or 0.21 per cent, at 4351.9 points. The rise was driven by monetary easing […]
Global stocks slid on worries Greece could leave the eurozone, while oil prices fell after a move by economic powerhouse China to prop up lending sparked fears its economy was weaker than has been thought. Data pointing to a deeper European recession, along with growing unease about the Greek debt crisis, pushed European shares down […]
