News archive from 28 February 2013

RAAF shows off KC-30A multirole tanker transport

RAAF shows off KC-30A multirole tanker transport

THE two F/A-18 Hornet fighters approach the 27m-long hoses trailing from the wings of the Airbus airliner like hungry calves seeking out a mother's teat. High above Lakes Entrance in East Gippsland yesterday afternoon, the latest inclusion to the...

 
McDonald's starters earn more than electrical apprentices, finds Sydney University study

McDonald's starters earn more than electrical apprentices, finds Sydney University study

UNSKILLED people flipping burgers at Macca's will earn 42 per cent more cash than first-year apprentice electricians, putting many sparkies below the poverty line. In a submission to the upcoming Fair Work Australia Modern Award Review, the Sydney...

 
Women don't have what it takes to lead, finds ABS Australian Social Trends report

Women don't have what it takes to lead, finds ABS Australian Social Trends report

SOME women just don't have the confidence to become boss, the Australian Bureau of Statistics says in its latest Australian Social Trends report. And it controversially suggests that female politicians are drawn to the Senate because they are not as...

 

South Africa unveils tough budget

SOUTH Africa finance minister Pravin Gordhan has unveiled a bootstraps budget of spending curbs and increased "sin taxes" for Africa's largest economy, predicting slow growth and a swollen budget deficit. Gordhan told parliament that growth...

 

US stocks flat after mixed goods report

US stocks have opened essentially unchanged after a mixed report on durable goods orders. Five minutes into trade, the Dow Jones Industrial Average rose 3.87 points (0.03 per cent) to 13,904.00. The broad-based S&P 500 edged lower by 0.45 point...

 

Fitch Ratings warns US on budget fighting

RATINGS agency Fitch has warned Washington that continued political fighting over the government budget and deficit-cutting measures could lead to the US losing its AAA grade. With the government two days away from enacting the harsh...

 

Reserve Bank unlikely to act on high dollar

When the Reserve buys the $A to defend it against selling, as it occasionally has in the past, there is a limit to its power. It needs to sell assets denominated in other currencies to free up funds for $A buying and its foreign currency reserves are...

 

With $40b of profits in the bag, the recovery gains momentum

Although the proportion of companies that have beaten expectations for the first half of the 2013 financial year was similar to the last few years, expectations among analysts of future earnings growth have improved. ''For the first time in three...

 

More to be done on managing risk: APRA

The comments came as the Australian Prudential Regulation Authority told the industry there was ''more work to be done'' in how it dealt with risk management. Banks in Europe were granted a major reprieve last month, when global regulators delayed the...

 

Travel flies in the face of retail gloom

But even this sobering data has been distorted. Because these broad spending trends ignore the fact that Australians have been spending on travel - in particular overseas air travel. The bad news is that once that is accounted for, it makes the other...

 
Westfield admits stalling sales

Westfield admits stalling sales

THE world's biggest shopping centre owner by assets under management, Westfield, has put into numbers what its tenants and consumers already knew - sales are slipping across the country. To stem the decline, the retail juggernaut has admitted it is...

 

Westfield forwards showing goal skills

The remuneration report for the 2012 year, issued on Wednesday, shows some of Westfield's executives are on pay resembling that of a handy player for a European soccer team. Sydney-based youngest brother Steven was paid $10.94 million, including a $4...

 
Westfield hit by falling rents as retail stays flat

Westfield hit by falling rents as retail stays flat

WESTFIELD, the world's biggest shopping centre owner, has admitted rents are falling in its Australian centres due to weaker retail trading conditions. New tenants will be offered rents up to 5 per cent lower this year, while tenants who are...

 

Marketing outfit shows value but triggers are tricky to find

THE iconic advertising and marketing group remains part of a shrinking group of value stocks in Australia. Earlier this month the company reported a solid 6.5 per cent increase in earnings a share (EPS) for the year to December 31. Analysts are now...

 

Reserve Bank unlikely to act on high dollar

When the Reserve buys the $A to defend it against selling, as it occasionally has in the past, there is a limit to its power. It needs to sell assets denominated in other currencies to free up funds for $A buying and its foreign currency reserves are...

 
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