The way we spend our money tells the economy what type of world we want. So is splurging it on champagne really the right message? These rich kids are happy to show it off.

Rupert Murdoch’s numerous divorces (this is his third) provide plenty of lessons for other business owners keen to protect their assets.

ASIC stands accused of being a sluggish guardian of late. Goings-on at Newcrest Mining last week — which ASIC has vowed to examine — are a test to the organisation.

Rupert Murdoch tried to convince Sydney investors yesterday not to dump their stock in the new News Corp. But with falling revenues and high costs, buying into the print assets is probably not a smart business move.

News Corp will no longer be listed on the London Stock Exchange — what will that mean for the new print company after the amicable divorce?

Regulators are circling twice-bankrupt Gold Coast business tycoon Craig Gore ahead of a Federal Court case later this year. But he’s still living in luxury in a $1300-per-week river-side rental.

Crikey publishing director director Marina Go had a front-row seat to the women’s magazine war of the 1980s and ’90s. The TV portrayal may differ from actual events.

The Lowys say they’ve deserved their $300 million in cash over two decades to run Westfield. Shareholders might disagree, and there’s a course of action if they do.

Government not spruiking your particular corporate interest enough? No worries — just take to the airwaves yourself with a relatively small ad buy, as these special interests have done, and you can easily influence policy, win elections and even topple leaders.

As News Corporation prepares to split, mogul Rupert Murdoch tries to convince investors the print half of the business is worth something. But can this business die-hard sell a dying industry?

“It’s a battle of ideas, not money,” says Clive Palmer of the election. But the two aren’t mutually exclusive. So who’s holding the bag for their respective leaders — and who’s providing the cash? The Power Index investigates.

The Murdochs, Packers and Lowys were once the wealthiest families in Australia. The mining boom gave rise to the likes of Gina Rinehart and Clive Palmer, who exercise their power in very different ways.

James Packer courted rival casino group Echo Entertainment and ousted its chairman only to sell out yesterday and bet the house on his planned Barangaroo casino development.

The Lowy family still continue to draw millions from Westfield, which is extraordinary. But now shareholders are thinking about putting a stop to it.

Plenty of Apple’s biggest money makers don’t pay taxes to any government, and the ones that do can pay as little as 0.05% on profits. The US loopholes and Ireland haven used by the tech giant.

Seven West Media has another CEO — the second in less than a year. TV man Tim Worner will take over from Don Voelte in July, the company announced to the ASX today.

Bill Gates has overtaken Carlos Slim as the world’s richest man. Who? The Mexican civil engineer turned telecommunications king has extraordinary market penetration and a deep cash pool.

The corporate watchdog is putting two directors of collapsed retirement fund Prime — Bill Lewski and Michael Wooldridge — into the dock. Their answers on the dramatic downfall are intriguing.

Engineering and mining contractor UGL has slashed its profit forecasts by 40% this week. But chief executive Richard Leupen remains in the chair long after his contract expired.

Life can be tough being young and wealthy in China — especially if you’re a descendant of Chairman Mao. And with exposure on the country’s new rich lists it’s getting tougher.

The fight for control of the Parramatta Eels got rough on the weekend, with allegations of dirty tricks and even a death threat to one director. Crikey lifts the lid on a grubby boardroom battle.

Tom Waterhouse has to be stopped, according to one gambling industry insider. His pervasive brand of promotion is giving everyone in the gambling game a bad name. Now Tony Abbott is on the case.

Women make up just 7% of the people on BRW’s Rich List. Most Rich Listers made their money from businesses, rather than inheriting their wealth, so why are women so woefully underrepresented?

Corinne Namblard and eight others will front court over fraud charges relating to a proposal to enlarge the Siena airport.Rome-based freelance journalist Desmond O’Grady investigates.

Some of our true-blue sporting heroes seem to be taking up residency in countries with favourable tax arrangements. But how easy is it to do? Crikey intern Kylar Loussikian finds it may not work for him.

It’s time to end automotive assistance. General Motors’ demand for a wage cut shows this is one industry not worth keeping, say Crikey’s Bernard Keane and Glenn Dyer.

The spin off company is called New News Corp (NNC) which owns the newspaper and publishing business in Australia, US and UK. 21st Century Fox is the second company — which will initially trade under the company’s current name News Corp (NWS).

The federal government’s controversial Export Finance and Insurance Corporate had escaped reforms aimed at exposing its inner workings to public scrutiny.

The collapse of the Co-operative Group banking firm in the UK shows the banking sector remains the biggest worry in a still faltering European economy.

Rupert Murdoch’s numerous divorces (this is his third) provide plenty of lessons for other business owners keen to protect their assets.

The latest data from the Australian Bureau of Statistics showed a small fall in the monthly unemployment rate of 5.5% (seasonally adjusted) for May from 5.6% for April and just 1100 new jobs created in the month

The German constitutional debate about the legality of the ECB’s OMT (Outright Monetary Transactions) program continues with the head of the Bundesbank arguing that Germany risks significant losses and grave damage to its credibility and ultimately it is the German tax payer who carries the risk.

If you want to bury a competitor, learn from Sony. But to succeed, the company needs to do even more, analysts say.

Wesfarmers has continually mismanaged Target, and as a result hundreds of people have now lost their jobs.

The Market is down 34. ASX 200 Futures were down 40. The Dow Jones finished down 117. The Dow was up 12 at best and down 153 at worst. Worst sectors — energy, financials, materials. US wholesale inventories were +0.2% for April which was in line with the forecast but below the previous reading of +0.35%. The […]

A culture of secrecy, unaccountability and outsourcing created the conditions for the Obama administration’s mass internet surveillance programs.

Two major revelations have exposed the extent of the Obama Administration’s mass surveillance of phone and internet use.

France’s unemployment rate was up 0.3% to 10.8% for the first quarter, beating expectation of 10.9%.

On a hot clear southern French spring day, Ben Sandilands takes a look at the A350 XWB MSN1, the first to fly of a small fleet of test and certification A350-900s soon to be released by Airbus.

Changes in the way iron ore prices are set have implications for our terms of trade — and perhaps for a new government after September.

Macau transport and property company Shun Tak Holdings has purchased 1/3 of Jetstar Hong Kong, which is a joint venture between Qantas and China Eastern Airlines.

Rupert Murdoch tried to convince Sydney investors yesterday not to dump their stock in the new News Corp. But with falling revenues and high costs, buying into the print assets is probably not a smart business move.

First-quarter GDP growth came in slightly below expectations: 0.6% vs consensus of 0.7% and 2.5% vs 2.7% annually.

News Corp will no longer be listed on the London Stock Exchange — what will that mean for the new print company after the amicable divorce?

Ten has not said publicly how much it paid for the rights, but it has been reported the deal is worth $100 million.

Critics are up in arms about the discovery of asbestos in pits and ducts used by the NBN. But has the federal government done anything wrong? Telecommunications expert Richard Chirgwin digs deeper into the issue.

Maurice Blackburn lawyers say Telstra could face “massive unquantifiable” liability from the removal of asbestos from thousands of pits and pipes.

Serco, which provides detention centre services for the federal government, has come under fire for allowing a string of escapes. But is there an alternative to outsourcing?

Crikey publishing director director Marina Go had a front-row seat to the women’s magazine war of the 1980s and ’90s. The TV portrayal may differ from actual events.

The spin off company is called New News Corp (NNC) which owns the newspaper and publishing business in Australia, US and UK. 21st Century Fox is the second company — which will initially trade under the company’s current name News Corp (NWS).

Poor assessment of risk, and motorists’ loathing of tolls, has long made infrastructure funding problematic. The NSW government is trying for a new approach.

The collapse of the Co-operative Group banking firm in the UK shows the banking sector remains the biggest worry in a still faltering European economy.

Australia has many decades of gas. But, if this is true, how can we be looking at big gas price increases and possibly supply shortfalls within a few years? A new Grattan Institute report by Tony Wood delves into the big issues.

Good causes have a tougher time convincing policymakers of the merits of addressing social issues. So they rely on “social cost” to get into the policy space.

The Productivity Commission last week issued the first of what will be an annual examination of our productivity performance, and despite scattered reports about how it has worsened and likely to continue to worsen, the real story from the Commission’s report is that we don’t yet have the real story on this issue.

The US Federal Reserve has affirmed its intention to maintain monetary easing, heading off a developing market rout overnight.

The latest data from the Australian Bureau of Statistics showed a small fall in the monthly unemployment rate of 5.5% (seasonally adjusted) for May from 5.6% for April and just 1100 new jobs created in the month

Remember Greece? We’ve heard a lot about Cyprus in recent times, but Greece is still a basket case and going from bad to worse.

The German constitutional debate about the legality of the ECB’s OMT (Outright Monetary Transactions) program continues with the head of the Bundesbank arguing that Germany risks significant losses and grave damage to its credibility and ultimately it is the German tax payer who carries the risk.

The Market is down 34. ASX 200 Futures were down 40. The Dow Jones finished down 117. The Dow was up 12 at best and down 153 at worst. Worst sectors — energy, financials, materials. US wholesale inventories were +0.2% for April which was in line with the forecast but below the previous reading of +0.35%. The […]

Forget the problems of a strong currency — suddenly the dollar is a symbol of national economic virility, write Glenn Dyer and Bernard Keane.

Changes in the way iron ore prices are set have implications for our terms of trade — and perhaps for a new government after September.

Don’t believe what you read. Australia actually has the lowest level of middle-class welfare in the developed world, argues ANU academic Peter Whiteford.

Today’s GDP figures show an economy exactly where the RBA says it is — poised on the difficult transition between a mining boom and domestic growth.

Tasmania has too many holes in its budget, amplified by shrinking GST revenue and failing government businesses. Tasmania-based economist and accountant John Lawrence looks at the structural problems.

With Australians living decades longer than they ever have, our expectation that work ceases at 65 is outdated and economically unsustainable, writes Per Capita research fellow Emily Millane.

In the context of its struggling global operations, Ford’s decision to shut up shop in Australia is logical. And recent economic history tells us it will have few repercussions, say Glenn Dyer and Bernard Keane.

New estimates of the structural budget balance sit poorly with opposition claims about the Gillard government’s poor fiscal mismanagement. Turns out things might not be so bad after all …

The Treasury Secretary’s discussion of what has gone wrong with revenue forecasting in recent years provides a context for the coming challenges on fiscal policy. Bernard Keane and Glenn Dyer report.

News Ltd columnists were quick to proclaim that the RBA had cut rates to combat the high Aussie dollar. Turns out, that was a crock — but where are their heartfelt apologies?

What’s in for me? Today’s Essential Report finds a curious response from voters to last week’s budget — voters think they’ll be worse off from the budget, but want the government to do more to cut spending.

The Coalition’s sudden enthusiasm for spending cuts is rather hypocritical — but a welcome embrace of fiscal responsibility. Both major parties are lifting their game, improving the dire standards in political debate.

The Chinese economy is no longer growing at a rate of knots. Will the new leadership succeed with economic reform — and what would happen to Australia if they don’t?

Budget week in Canberra highlighted the economic constraints facing an Abbott government — and gave a hint that the Coalition may be Labor lite when it comes to future budgets. Crikey deputy editor Cathy Alexander talks with Canberra correspondent Bernard Keane.

It’s time to end automotive assistance. General Motors’ demand for a wage cut shows this is one industry not worth keeping, say Crikey’s Bernard Keane and Glenn Dyer.

The spin off company is called New News Corp (NNC) which owns the newspaper and publishing business in Australia, US and UK. 21st Century Fox is the second company — which will initially trade under the company’s current name News Corp (NWS).

Poor assessment of risk, and motorists’ loathing of tolls, has long made infrastructure funding problematic. The NSW government is trying for a new approach.

Australia has many decades of gas. But, if this is true, how can we be looking at big gas price increases and possibly supply shortfalls within a few years? A new Grattan Institute report by Tony Wood delves into the big issues.

Good causes have a tougher time convincing policymakers of the merits of addressing social issues. So they rely on “social cost” to get into the policy space.

The US Federal Reserve has affirmed its intention to maintain monetary easing, heading off a developing market rout overnight.

The German constitutional debate about the legality of the ECB’s OMT (Outright Monetary Transactions) program continues with the head of the Bundesbank arguing that Germany risks significant losses and grave damage to its credibility and ultimately it is the German tax payer who carries the risk.

The Market is down 34. ASX 200 Futures were down 40. The Dow Jones finished down 117. The Dow was up 12 at best and down 153 at worst. Worst sectors — energy, financials, materials. US wholesale inventories were +0.2% for April which was in line with the forecast but below the previous reading of +0.35%. The […]

ASIC stands accused of being a sluggish guardian of late. Goings-on at Newcrest Mining last week — which ASIC has vowed to examine — are a test to the organisation.

France’s unemployment rate was up 0.3% to 10.8% for the first quarter, beating expectation of 10.9%.

Changes in the way iron ore prices are set have implications for our terms of trade — and perhaps for a new government after September.

Macau transport and property company Shun Tak Holdings has purchased 1/3 of Jetstar Hong Kong, which is a joint venture between Qantas and China Eastern Airlines.

First-quarter GDP growth came in slightly below expectations: 0.6% vs consensus of 0.7% and 2.5% vs 2.7% annually.

The attempt to link Telstra’s asbestos / NBN problem with the pink batts fiasco ignores the basic facts — and the Coalition’s own uncomfortable history on the issue. Think twice before you point the finger …

Ten has not said publicly how much it paid for the rights, but it has been reported the deal is worth $100 million.

Maurice Blackburn lawyers say Telstra could face “massive unquantifiable” liability from the removal of asbestos from thousands of pits and pipes.

Telstra has hired an extra 200 safety specialists to inspect all asbestos-related work at sites where the NBN is to be rolled out. Sites in New South Wales, Victoria and Western Australia have been shut down over concerns about asbestos exposure.

The Aussie dollar hit a 17-month low yesterday.

Forget a second Sydney airport: there may be room for a more prosperous Canberra less dependant on political travel, writes Ben Sandilands.

The US Case/Shiller house price 20 index was up 10.1% in March, beating the forecast of 10.02% and taking the annual rate to 10.9%, the strongest reading since 2006.

Researchers pin a lot of things on suburban sprawl, writes Alan Davies, who scrutinises a new report claiming home ownership is associated with higher levels of unemployment.

The market is up 5; quiet this morning after US markets were closed overnight for the Memorial Day holiday.

European markets were down again on Friday as they continue to re-assess the speculation that the US Federal Reserve will start scaling back stimulus measures.

The way we spend our money tells the economy what type of world we want. So is splurging it on champagne really the right message? These rich kids are happy to show it off.

Rupert Murdoch’s numerous divorces (this is his third) provide plenty of lessons for other business owners keen to protect their assets.

ASIC stands accused of being a sluggish guardian of late. Goings-on at Newcrest Mining last week — which ASIC has vowed to examine — are a test to the organisation.

Rupert Murdoch tried to convince Sydney investors yesterday not to dump their stock in the new News Corp. But with falling revenues and high costs, buying into the print assets is probably not a smart business move.

News Corp will no longer be listed on the London Stock Exchange — what will that mean for the new print company after the amicable divorce?

Regulators are circling twice-bankrupt Gold Coast business tycoon Craig Gore ahead of a Federal Court case later this year. But he’s still living in luxury in a $1300-per-week river-side rental.

Crikey publishing director director Marina Go had a front-row seat to the women’s magazine war of the 1980s and ’90s. The TV portrayal may differ from actual events.

The Lowys say they’ve deserved their $300 million in cash over two decades to run Westfield. Shareholders might disagree, and there’s a course of action if they do.

Government not spruiking your particular corporate interest enough? No worries — just take to the airwaves yourself with a relatively small ad buy, as these special interests have done, and you can easily influence policy, win elections and even topple leaders.

As News Corporation prepares to split, mogul Rupert Murdoch tries to convince investors the print half of the business is worth something. But can this business die-hard sell a dying industry?

“It’s a battle of ideas, not money,” says Clive Palmer of the election. But the two aren’t mutually exclusive. So who’s holding the bag for their respective leaders — and who’s providing the cash? The Power Index investigates.

The Murdochs, Packers and Lowys were once the wealthiest families in Australia. The mining boom gave rise to the likes of Gina Rinehart and Clive Palmer, who exercise their power in very different ways.

James Packer courted rival casino group Echo Entertainment and ousted its chairman only to sell out yesterday and bet the house on his planned Barangaroo casino development.

The Lowy family still continue to draw millions from Westfield, which is extraordinary. But now shareholders are thinking about putting a stop to it.

Plenty of Apple’s biggest money makers don’t pay taxes to any government, and the ones that do can pay as little as 0.05% on profits. The US loopholes and Ireland haven used by the tech giant.

Seven West Media has another CEO — the second in less than a year. TV man Tim Worner will take over from Don Voelte in July, the company announced to the ASX today.

Bill Gates has overtaken Carlos Slim as the world’s richest man. Who? The Mexican civil engineer turned telecommunications king has extraordinary market penetration and a deep cash pool.

The corporate watchdog is putting two directors of collapsed retirement fund Prime — Bill Lewski and Michael Wooldridge — into the dock. Their answers on the dramatic downfall are intriguing.

Engineering and mining contractor UGL has slashed its profit forecasts by 40% this week. But chief executive Richard Leupen remains in the chair long after his contract expired.

Life can be tough being young and wealthy in China — especially if you’re a descendant of Chairman Mao. And with exposure on the country’s new rich lists it’s getting tougher.

The fight for control of the Parramatta Eels got rough on the weekend, with allegations of dirty tricks and even a death threat to one director. Crikey lifts the lid on a grubby boardroom battle.

Tom Waterhouse has to be stopped, according to one gambling industry insider. His pervasive brand of promotion is giving everyone in the gambling game a bad name. Now Tony Abbott is on the case.

Women make up just 7% of the people on BRW’s Rich List. Most Rich Listers made their money from businesses, rather than inheriting their wealth, so why are women so woefully underrepresented?

Corinne Namblard and eight others will front court over fraud charges relating to a proposal to enlarge the Siena airport.Rome-based freelance journalist Desmond O’Grady investigates.

Some of our true-blue sporting heroes seem to be taking up residency in countries with favourable tax arrangements. But how easy is it to do? Crikey intern Kylar Loussikian finds it may not work for him.