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REPORT: Small Business Inquiry Finds Australian Big Bank Practices Unfair

Posted: February 4th, 2017 | Author: | Filed under: Business News | Tags: , , , , , , | Comments Off on REPORT: Small Business Inquiry Finds Australian Big Bank Practices Unfair

I’ve banked with a small bank – Bendigo Bank – since my return to Melbourne 8 years ago. Australia’s big banks have plenty of critics, and now they can add the Small Business Ombudsman to that fast growing list.

The high profile Ombudsman, Kate Carnell, who has authored a report released today into banking practices, has found lenders are not being fair when they enter into contracts with small and medium-sized businesses.

The big four banks enjoy a $19 billion advantage over their smaller rivals by still being able to self-calculate the riskiness of their home loans according to analysis from the Australian Prudential Regulation Authority.

Despite a new regulatory framework requiring the big banks to hold larger top tier capital buffers, their ability to internally assess their asset risks is still a huge advantage in terms of the amount of “expensive” capital locked up and their ability to access cheaper funding.

While the CBA, NAB, Westpac and ANZ are now required to base their regulatory capital on a blanket of at least 25 percent of mortgages being at risk, smaller lenders must base their risk weightings at 39 percent :: Read the full article »»»»

Anatomy of a Bloodbath, Will Augusts Stock Market Correction CRASH?

Posted: August 26th, 2015 | Author: | Filed under: Business News | Tags: , , , , , , , | Comments Off on Anatomy of a Bloodbath, Will Augusts Stock Market Correction CRASH?

Anatomy of a bloodbath

Many financial analysts have rushed to describe the current global stock market turmoil as a historic event, unprecedented, a bloodbath, however its evolution has so far been quite traditional. The correction, if that’s what this is, has been building since 2011/12 when many analysts began to question the numbers attached to Chinese growth, peaking earlier this year when markets reached new optimism, April marked historic highs for global indices. And while markets around the globe rally to retake losses, China remains the question on everyone’s lips.

Globally this current selloff started as a repricing of growth outlooks, in the main based on believable or unbelievable numbers out of China over the past 5 years, mounting evidence of economic weakness in the worlds second largest economy, coupled with persistent low growth in Europe and Japan, made it hard for markets to ignore the impact on earnings and profitability of what looked suspiciously like a global slowdown  :: Read the full article »»»»

Paris Hilton Sex Tape Slapped with Cyber Squatting Claim

Posted: November 22nd, 2013 | Author: | Filed under: Celebrity Gossip, Celebrity News | Tags: , , , , , , , | Comments Off on Paris Hilton Sex Tape Slapped with Cyber Squatting Claim

NSFW!Our most favourite  skinny chick –  Paris Hilton – has finally dragged herself out of bed to file a cybersquatting complaint against www.parishiltonpornvideos.com, a decade after the sites registration.

According to records, www.parishiltonpornvideos.com is privately registered and has been online since December 2003. Since that time, the website has offered a multitude of ways for punters to hunt down Ms Hilton’s sex tapes.

The site currently provides links where those of that bent can stream the famed “1 Night in Paris” that depicts Hilton having sex with Rick Salomon in 2001 or “Hotel Heiress.”

As well, the site also includes historical information on Hilton and information culled from Wikipedia and a link to a CNN interview with the star and Piers Morgan :: NSFW! ADULT CONTENT WARNING :: Read the full article »»»»

Steve Ballmer’s Retirement Imminent, He Leaves Microsoft in an Unimpressive Position

Posted: August 25th, 2013 | Author: | Filed under: Technoid Computer News | Tags: , , , , | Comments Off on Steve Ballmer’s Retirement Imminent, He Leaves Microsoft in an Unimpressive Position

Microsoft CEOMicrosoft’s outlandish chief executive Steve Ballmer has announced he has his heart set on retirement. The gregarious CEO reckons he’s pensioning himself off sometime within the next 12 months.

It’s the opinion of this blogger that Microsoft might just be better off without Ballmer. Under Ballmer’s helmsman-ship the company has missed far too many obvious opportunities, leaving the once mighty company languishing in cyber-nomans land.

One analyst says “Microsoft has clearly been on the wrong track for a long time, missing the shift to high mobility entirely.”

Ballmer’s retirement might just open a new chapter for Microsoft, while its Windows OS is used in the vast majority of personal computers. Microsoft during Ballmer’s 13 years of control has had little impact in the fast-growing mobile device segment.

The tech-behemoth has faced a slurry of criticism for not keeping pace with a fast-evolving tech-sector, my personal criticism includes not eyeing-off it’s market correctly, not clearly knowing who it’s products appeal to and a massive lack of creative vision.

As well as a dismal vision, Ballmer has shaved real value of the company. The year that Ballmer began steering Microsoft, Apples – AAPL – share price was on par with Microsofts – MSFT – at about $100, today, Apple shares are valued at around $500,  while Microsoft has barely lifted to $35.

While Microsoft has battled to keep pace in development, it’s preferred market seems to have been slices of the iPhone and Android markets, leaving those – seniors, those around Ballmer’s own age – who actually love thier products virtually untouched :: Read the full article »»»»

UPDATED! Will the US Fall Over the Fiscal Cliff?

Posted: December 28th, 2012 | Author: | Filed under: Bailout, Business News, News | Tags: , , , , , , , , | Comments Off on UPDATED! Will the US Fall Over the Fiscal Cliff?

UPDATE Will the US Fall Over the Fiscal Cliff via Associated PressUS president Barack Obama will return to Washington – from vacation in his home state of Hawaii – to host congressional leaders, including his bitter Republican rivals, in a last-ditch attempt to halt America’s slide over the fiscal cliff.

A White House spokesman said the president would meet House speaker John Boehner and Senate minority leader Mitch McConnell, and Democratic allies Senate majority leader Harry Reid and House minority leader Nancy Pelosi.

The meeting – scheduled for Friday afternoon local time – comes amid bitter partisan exchanges and mounting pessimism over whether a budget deal can be struck.

Before leaving his Hawaiian Christmas vacation, President Obama telephoned congressional leaders to discuss the situation, which could push the US back into recession.

He returned to Washington overnight, but Senator Reid said a deal to avert the $US600 billion package of higher taxes and spending cuts, due to kick in with the New Year, looked unlikely.

With the deadline to solve the latest potential economic crisis in the US rapidly approaching, you have probably heard of the fiscal cliff – but what is it? :: Read the full article »»»»

Fords $AU100 Million Dollar Government Gift Equates to 400 LOST JOBS

Posted: July 22nd, 2012 | Author: | Filed under: Hard Pill to Swallow, News | Tags: , , , , , | Comments Off on Fords $AU100 Million Dollar Government Gift Equates to 400 LOST JOBS

Ford Celebrates Launch of 2012 Ford FocusIn January this year we wrote – The Cost of Keeping Auto Makers Local – as sales of Australian made large cars – GM Holden Commodore and Ford Falcon – dramatically dropped the auto makers stood in line for serious government financial assistance. GM’s Commodore 15-year run as Australia’s best-selling vehicle was ended abruptly in 2011 by the Japanese manufactured Mazda3, while Ford Falcon sales plummeted to fewer than 19,000 units in 2011.

In May we questioned the validety of Australian Government subsidies granted to the nations 2 big auto makers – General Motors & Ford – The Cost of Keeping General Motors ‘Holden’ Local, And asking the question: So Exactly How Much Does it Cost to Keep Auto Makers in Australia? At the time, the Australian Government answered the question by handing General Motors Holden more than $AU275 Million to help keep auto manufacturing in Australia.

Ford Australia in the last few days has shockingly announced the loss of 440 jobs in it’s Victorian plants.

In the case of Ford, the Australian Government granted the company $AU103 million in subsidies with the promise of  plant – Geelong – upgrades and the longevity of Fords large sedan the Ford Falcon. Right about now the Federal Government, and Prime Minister Julia Gillard must be wondering if they’d simply thrown good money after bad, with Ford announcing that it will shed 440 jobs?  :: Read the rest of this entry »