Woolworths woes spark talk of full-blown supermarket price war with Coles, Aldi
Video will begin in 5 seconds. Wesfarmers boss respects Aldi as Coles rival Wesfarmers CEO Richard Goyder takes Aldi seriously, though insists the self-service checkouts that the German chain has rejected will remain in Coles. PT0M46S 620 349 The battle for market share in the $90 billion grocery sector could turn into a full-blown price war next year if Woolworths' attempts to restore sales growth in supermarkets fail to gain traction, UBS says.All four major grocery retailer..>> view originalOptus to cut hundreds of jobs in search for 'sustainable growth'
Workers at Optus' campus at Macquarie Park in Sydney. Photo: Brendan Esposito Optus will cut up to 480 jobs as part of a restructure of its consumer and enterprise divisions in an attempt cut costs for "sustainable growth".The telecommunications company announced on Monday that changes to its Business, Wholesale and Satellite divisions will result in a number of jobs no longer being available."These changes require Optus to reshape its workforce with the skil..>> view originalDisappointing result for retail in Feb
Whyalla pay negotiations '50-50 bet'
Whyalla pay negotiations '50-50 bet'The future of South Australia's Whyalla steelworks hangs in the balance after Arrium's lenders rejected a bailout deal.Arrium, which is struggling with growing debt and low iron ore prices, says it has been unable to secure a recapitalisation plan involving GSO Capital Partners.The steelmaker entered a trading halt on Monday and is expected to update the market on its talks with lenders in coming days.Arrium has warned it may mothball the Whyalla operations, c..>> view originalATO investigates 800 linked to Panama papers
Banks to act on family violence
Australian Bankers' Association chair and National Australia Bank chief executive Andrew Thorburn with Domestic Violence chief executive Fiona McCormack. Wayne Taylor Victims of family violence will have improved access to finances in an emergency and bank staff will be educated to deal with them in a move by the Australian Bankers' Association chairman and chief executive of National Australia Bank Andrew Thorburn.The report by Royal Commissi..>> view originalATO gets fresh list of Australian rich tax skirters
The leaked information now in the hands of the tax office is particularly complex. Photo: Tamara Voninski The average tax-paying Australian must be feeling futility fatigue amid another round of explosive revelations that the that super rich have skirted many millions in tax while at the same time the government is telling them their will be nothing by way of personal tax cuts coming their way any time soon.The enormous drop of documents around the establishm..>> view originalQuickflix cuts staff to conserve cash
Quickflix cuts staff to conserve cashQuickflix plans to cut staff, reduce directors' pay and close offices in Sydney and Auckland in an effort to turn around the troubled streaming service.The company says the new measures - which include reducing office costs in Sydney and Perth, taking customer support in-house and reducing its workforce by 15 per cent - will save more than $1 million a year.Quickflix's service has been severely affected by last year's entry of US giant Netflix into the Austra..>> view originalRetail, inflation slowdown a red flag for rates
Australian retail sales were flat in February, falling short of forecasts that had predicted a slight rise. Photo: Tamara Voninski Australian retail sales were surprisingly muted in February, a red flag for hopes that consumer spending could offset global headwinds and keep the economy accelerating through the first half.Combined with a very subdued private-sector reading on inflation, Monday's data suggested the Reserve Bank of Australia (RBA) would have to..>> view originalGiant Queensland coal mine will carry hidden cost, US investor predicts
Video will begin in 5 seconds. Adani mine an 'amazing opportunity' The Queensland government approves a $20 billion coal mine in the Galilee basin but green groups say the Great Barrier Reef will suffer. 7 News Queensland PT1M42S 620 349 The approval of a giant new coal mine for Queensland is likely to deliver only short-term economic benefits and may carry a hidden cost if its demise triggers a bailout for miners needing new jobs, a leading US investor says.The Palaszczuk Lab..>> view original
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