With ASIC departing the One.Tel battle with its tail wedged firmly between its legs, the regulator may be less bold in aggressively pursuing cases in the future, says Malcolm Maiden
Business
Rich home free, ASIC in the dock
One.Tel executives Jodee Rich and Mark Silbermann may have escaped their legal battle with ASIC intact, but One.Tel was still a colossal failure, says Stephen Bartholomeusz.
Goldman starts grovelling
Goldman Sachs is attempting to make-over its greedy image by apologising for that little Global Financial Crisis incident and spending $500 million to help small businesses recover from the recession.
The next meltdown is coming in 2012
It may not be the global Apocalypse predicted by certain Hollywood action films, but there will be an epic disaster in 2012, says Paul Farrell: the next big Wall St crash.
If we are what we drive, we’re changing gear
Australians are rapidly embracing motorbikes (especially scooters) and diesel-powered cars, according to the latest Motor Vehicle Census from the ABC.
US public debt ticks over to $12 trillion
While America was having last weekend off, the country’s public debt ticked over the impossible to comprehend figure of $US12 trillion — over 80% of the country’s annual GDP.
Bank exec bonuses helped by Rudd’s rules
Kevin Rudd may publicly deride extreme capitalism — but, fortunately for our bankers, the Federal Government’s policies appear to be aiding and abetting it.
Violent plunges of QF72 remain a mystery
Heads hit the roof when a Qantas A300 dipped and dived off Western Australia last year. But a second interim report released today holds no certain answers.
Goldman Sachs outsources lending to charity
You can’t but help be very very cynical about the news that Goldman Sachs and Warren Buffett are going to rustle up half a billion bucks and lend it to small businesses.
Public sector keeps wages growing faster than they should be
Wages growth in Australia continues to ease, as the Reserve Bank says it has, but that’s not to say the public sector hasn’t done its best to keep wages growing faster than they should be.
How Australia’s economy is kicking America’s arse
Australia’s natural resources, healthy banking sector and equity culture has seen the country virtually skip out on recession while the US struggles to keep its head above water. Elliot Gue casts a jealous eye over Australia’s recent economic performance.
Former Microsoft ambassador: Why I’m ditching Gates for Google
Microsoft’s former “ambassador to startups”, Don Dodge, worked at the company for almost five years, but now he’s saying goodbye to Outlook, Office and IE, and hello to Gmail, Docs and Chrome: he’s a born-again Googler.
Get ready for an RBA rates ramp up
The Reserve Bank will continue to lift its key cash rate as long as “economic conditions evolved as expected”, the minutes for the last board meeting reveal.
Forty-nine million Americans go hungry
For all the talk of a recovery in the US economy, a grim reality has been outlined in Washington for all the world to see: America can’t feed all its 303 million people, with one in seven going short at some stage in a week.
US finance sector’s sick reality
In the past month, 24 US banks have failed, two big finance companies have gone into bankruptcy, followed by a small credit card provider. But American investors don’t care; they know if the banks are small enough, the regulators will clean up.
Looming GE-Comcast deal may out-flank Murdoch
While he has been obsessing about the internet and free content, Rupert Murdoch may be about to be out-flanked by the looming deal between General Electric and Comcast over NBC.
ATO-TPG fight may force legislators to act curb tax favours
The emerging stoush between the Australian Tax Office and the former private equity owners of Myer should warm the cockles of the hearts of every long-suffering Australian taxpayer.
China’s dirty Yuan devaluation
China’s dirty devaluation of its currency to allow it to move in value with the fall in value as the US dollar is hurting its rivals in recovering Asia, such as Japan, South Korea and Taiwan.
Australian newspapers following the US in steep decline
The declining revenues of Australian newspapers will spell trouble locally, just as the same trend has resulted in disaster for many US titles, writes Niki Scevak.
Where’s the warning for investors from the big polluters?
Some of Australia’s biggest polluters continue to say one thing in public about the CPRS and tell their shareholders another.
Credibility of Qantas on line over “unusual vibrations” aka a flaming engine
The scorched engine at the centre of the latest allegations about safety standards at Qantas is now being examined by the independent air safety investigator, and the credibility of two unions, the airline’s management and the air safety regulation enforce are all on the line.
National newspapers fall off a cliff, bury news
Australian newspaper buyers have punished the national papers, The Australian Financial Review and The Australian in the latest audit period, but basically spared the rod on their state-based competitors.
Qantas dodges BA-Iberia tie-up
The proposed 4.4 billion pound merger between British Airways and Iberia of Spain is so full of holes that it could very well sink without a trace at the slightest bit of opposition.
Virgin’s Velocity Gold blue
Personalising a free upgrade in writing and then rescinding it entirely is just a “douche-bag move”, writes a Crikey reader angered at Friday’s Virgin Blue stuff up.
Bernie Madoff sells off his fat gold watch collection
Bernie Madoff was mad for watches, and 46 of them were sold at yesterday’s fire sale of his possessions. Check out all of them here — including his suite of Rolexes, a favourite brand — plus their estimated price and what they actually fetched.
