Facebook announced overnight that it’s going to sell US$5 billion of shares in its long-awaited initial public offering (IPO). Company executives filed the official paperwork to get the IPO process underway…
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News that Gina Rinehart has reportedly attained a 12.8% stake in Fairfax Media (and is seeking just under 15%) is bad for the Australian media environment: it potentially puts yet another billionaire in…
Medicare is one of the cornerstones of the Australian health care system, but there are serious questions about some aspects of the program. Over time, government reforms have created some perverse incentives…
When it comes to finding ways out of the European sovereign debt crisis, views appear to range widely. At last week’s World Economic Forum Martin Wolf, chief economic commentator for the Financial Times…
Amid tough trading conditions and intense competition, Coles has fired the latest salvo in its ongoing supermarket war with Woolworths, announcing it will reduce the price of some fruit and vegetables…
Not so long ago, when economic commentators thought about unemployment and the Australian labour market, their main question was: How low can it go? The global financial crisis was a setback to this improving…
It’s the pharmaceutical industry equivalent of the butterfly effect: a drug manufacturing plant in Ohio shuts down production after regulators on two continents uncover contamination problems. Suddenly…
Federal Treasurer Wayne Swan has vowed to keep up the pressure on Australia’s major banks to follow the lead of the Reserve Bank of Australia, if board members decide next Tuesday to lower Australia’s…
Foreign Affairs Minister Kevin Rudd recently gave a rev-up to Australian businesses about the neglected opportunity that exists on our northern doorstep. He accused Australian firms of harbouring decades-old…
In December 2011, Prime Minister Julia Gillard reshuffled her ministry. Naturally, senior Cabinet posts and significant demotions attracted attention. Unnoticed was that small business received a new minister…
In a previous article, I analysed four of the common arguments used by those who deny there is a bubble in Australia’s residential property market. The bubble deniers have employed other explanations for…
In Australia’s political history, elements of both Coalition and Labor governments have used arguments of cultural identity and national pride to justify policies of economic protectionism. The practice…
The Australian Government has been bailing out automotive manufacturers since 1985. Both that year’s Button Plan and the 2008 Bracks Report recommended restructure and additional funding. But unless the…
Since its introduction in 2007, there has been much debate over the effectiveness of the Northern Territory Emergency Response (NTER) in improving the quality of life in remote indigenous communities…
Toyota’s announcement yesterday that it will shed 350 jobs at its plant in Altona has been blamed on the strength of the Australian dollar, which some commentators say is having a significant impact on…
Mandatory energy efficiency ratings for houses have been in force in parts of the United Kingdom and elsewhere in Europe for some time and appear to have gained general acceptance. New homes in particular…
Brazil has just passed the United Kingdom to become the sixth-largest economy in the world. Only a decade ago such news would have been written off as just another version of the old joke, “Brazil is the…
Why do some small firms survive and prosper, while others don’t? When you put this question to a business consultant, academic or even an experienced business person, their biases show immediately. The…
The decision by Standard and Poor’s to downgrade the debt of nine Eurozone countries last week, followed by the inevitable downgrade of the Eurozone rescue fund two days later, raises important questions…
The fall of the “Mighty” Sean Quinn from Ireland’s (and Forbes-listed) richest man to one of the world’s most indebted individuals is perhaps the biggest story of Ireland’s boom-to-bust recent economic…
During the decade since the 9/11 attacks and the ensuing “war on terror”, cruise ship, resort and theme park tourist bubbles have been remarkably terror-free. The tourist-only environments on cruise ships…
Executive remuneration is out of control in the United Kingdom. The final report by the High Pay Commission concluded that “there is rarely a link between directors’ incentives and the way a company performs…
Policy making is supposedly influenced by scientific evidence, which in turn leads to better political, social and economic outcomes, depending on the issue at hand. One would like to think that in a moderately…
It is no coincidence the federal government is increasing its existing multi-billion dollar subsidies to the car industry at the same time it is increasing the tax burden on the mining sector. Price signals…
Standard & Poor’s decision to downgrade the credit ratings of nine Eurozone countries, including Austria, France, Italy, Spain, and Portugal, is another symptom of the contagious and vicious debt cycle…