How China has to change if it wants global trade peace

How China has to change if it wants global trade peace

A second, tougher level of trade issues include: forced technology transfers in joint ventures when Western companies try to produce inside China's tariff walls; counterfeit goods, which cost Western companies billions; industrial espionage; and Chinese joint ventures abroad which see technology absorbed and agreements broken. China could pass laws to outlaw some of these things.…
Bill Shorten risks rift with unions as election nears

Bill Shorten risks rift with unions as election nears

Ms O'Neil, an alternate director on the board of AustralianSuper, said companies engaging in poor labour practices presented a double whammy of risk: lower investment returns and an erosion of wages now, leading to fewer retirement savings. Transport Workers Union national secretary Michael Kaine, an alternate director on TWUSuper, told The Australian Financial Review on…
Barangaroo’s ‘bird nest’ hits the market

Barangaroo’s ‘bird nest’ hits the market

"Location and design are two key elements in creating great places that people are drawn to. This building has both - a distinctive design and a prime address on the waterfront at Barangaroo," Mr Burton added. CBRE director James Parry, who has been engaged to sell the building, said it was a "trophy asset" ideally…
Local investors stick with Facebook despite global storm

Local investors stick with Facebook despite global storm

Asset management giants Vanguard, Fidelity and BlackRock are the social network's three biggest investors globally. Other Australian fund managers with smaller positions in Facebook said they preferred to speak anonymously as they did not wish to seem insensitive to those affected by the horrific events in New Zealand last week. "There absolutely needs to be…
Michael Daley is no racist, no orator either

Michael Daley is no racist, no orator either

"And I don't want to sound xenophobic. It's not a xenophobic thing. It's an economic question." How to appeal to prejudice One of the tricks of politics is to appeal to prejudices without altering those being demonised. Daley is no racist. He is no orator either. He was bluntly articulating one of the great preoccupations…
Why the ‘wasted’ perfectionism of strategy consultants doesn’t work in start-up land

Why the ‘wasted’ perfectionism of strategy consultants doesn’t work in start-up land

"It probably didn't add much value, and was probably more of an ego-driven approach internally to keep pushing something." Lesson feedback Barnett now runs the education start-up Loop, which spun out of Nous in 2016. Loop offers a smartphone and web application that enables teachers to track how their lessons are being received by students…
Why minimum wages are a fantasy

Why minimum wages are a fantasy

The success of Mad Men, the racy TV series about the advertising industry, contributed to the number of people wanting to get into the industry and pushed wages right down. The average annual wage of an advertising account executive is $53,000, an hourly wage a bit over $24. But the expectation is that account executives…
Low wage growth ‘not result of broken system’

Low wage growth ‘not result of broken system’

Labor and unions have used the argument to claim the workplace system has broken and support calls for a return to centralised wage fixing or industry-wide bargaining. While accepting employees' earnings have lagged productivity in the past five years, Mr Kirchner argued the long-term relationship remains intact. He said that when calculating real wage growth…
Business wants more detail on Labor’s emissions reduction policy

Business wants more detail on Labor’s emissions reduction policy

The BCA said the Fisher report raised legitimate questions about the finer details of the carbon reduction policies, including whether international credits could be used, carry-over credits from the Kyoto agreement as well as what sectors will be targeted under Labor's scheme. The Fisher report found wholesale electricity prices would increase more under Labor's plans…
Westpac dumps personal financial advice for the masses

Westpac dumps personal financial advice for the masses

Two of the bank's top executives will leave the business as a result of the shake-up with consumer bank executive George Frazis leaving to pursue other opportunities and BT CEO Brad Cooper leaving after assisting with the transition. Mr Cooper is also the deputy chairman of lobby group the Financial Services Council. Westpac will continue…

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