Germany’s nod to the Aussie. O’Neill’s BRICs Risk Hitting Wall Threatening G-20 Growth. Even Jim O’Neill is asking whether the BRICs need reinforcing 11 years after he coined the term to describe the world’s future powerhouse economies.
O’Neill, chairman of Goldman Sachs Asset Management, says his thesis that Brazil, Russia, India and China would together increasingly buoy the global economy faces “a more challenging test” as investors dump the countries’ stocks. China pared its growth target to the lowest since 2004, Standard & Poor’s may cut India’s investment-grade credit rating, Brazil is on pace to expand less than 3 percent for a second straight year and falling oil prices may hurt Russia. A prolonged slowdown in the four countries poses a fresh threat to a world economy suffering its weakest spell since the end of the 2009 recession, which the BRICs helped shorten by contributing about half of the international expansion since 2007.
Surprise Index Political Roadblocks Greek Elections Weakness in China alone has the potential to reinforce woes elsewhere. Driving Growth. Signs of Fatigue in the Commodities 'Supercyle' Some credit card costs may fall. CommInsure dumped by Genesys Wealth. APRA’s Basel approach costly for banks: CBA. Foreign banks dawdling on reforms. BIS says the United States, as well as Argentina, Indonesia, Mexico, Russia and Turkey are lagging other countries in implementing the Basel reforms.
Photo: Greg Newington John Kehoe. Foreign banks dawdling on reforms. Tell Big Business They're Dreaming. George Soros Speech Goes Viral. George Soros predicts class war and riots. As Soros Starts A Three Month Countdown To D(oom)-Day, Europe Plans A New Master Plan. What would the weekend be without at least one rumor that Europe is on the verge of fixing everything, or failing that, planning for a master fix, OR failing that, planning for a master plan to fix everything.
Sure enough, we just got the latter, which considering nobody really believes anything out of Europe anymore, especially not something that has not been signed, stamped and approved by Merkel herself, is rather ballsy. Nonetheless, one can't blame them for trying: "The chiefs of four European institutions are in the process of creating a master plan for the euro zone, the daily Die Welt reports Saturday, in an advance release of an article to be published Sunday. Suggestions targeting a fiscal, banking, and political union, as well as structural reforms, are being worked out by E.U. Council President Herman van Rompuy, E.U. Commission chief Jose Manuel Barroso, Eurogroup Chairman Jean-Claude Juncker and European Central Bank President Mario Draghi, according to the article.
Remarks at the Festival of Economics, Trento Italy. June 02, 2012 Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public, that economic theory has failed.
But there is no consensus on the causes and the extent of that failure. I believe that the failure is more profound than generally recognized. It goes back to the foundations of economic theory. Economics tried to model itself on Newtonian physics. Europe looks to its Lehman moment. For the euro and these people shopping in Athens this week, there’s a lot at stake in Sunday’s election.
Photo: Getty Images. For Germany, it’s the euro at all costs. Europe banks face threat of wipe-out. Germany does a backflip on sharing euro debt. Bailout may tip Spain to junk. High-dividend stocks not as safe as you think. Investors suffer bailout fatigue. Euro fears hit mining jobs, confidence. Bond market thrills and spills. Technology - Alexis Madrigal - Sorry, Young Man, You're Not the Most Important Demographic in Tech. Despite companies' hamfisted, male-focused marketing efforts, women are the dominant users of a wide variety of new technologies.
Our technology future - Future Tense - ABC Radio National. Antony Funnell: And wherever you are in the world, this is Future Tense, I'm Antony Funnell, you're you, welcome to the show.
Only three guests on the program today, but a banquet of ideas and lots to get your head around. Wind power a jobs generator: PwC. 70pc of companies would recruit from overseas: survey. Deloitte busts $1bn revenue barrier. Giam Swiegers, Deloitte Australia CEO ... the firm’s revenue has made it the country’s second-biggest accounting firm.
Photo: Peter Braig Agnes King Deloitte Australia has cracked the $1 billion revenue barrier and upset, temporarily at least, the ranking of the big four accountancy firms. It leapfrogged Ernst & Young and KPMG to become the country’s second-biggest accounting firm behind PwC. Deloitte posted income of $1.1 billion for the 12 months to May 31, up 18 per cent, in a tough year for professional services firms. Consulting was the growth engine. 10 signs the writing’s on the wall. Dominic White From Enron to Hastie Group, equity investors always rank lowest among creditors trying to recoup money from companies that collapse.
The difference between price and value. Telstra to send jobs offshore. John McDuling Telstra is working on plans to shift as many as 324 jobs offshore as part of ongoing efforts to keep a lid on costs and simplify its monolithic operating structure.
The telco submitted a proposal to employees and unions that would see positions in credit management (which involves chasing unpaid bills) moved to offshore partners in Asia. If it goes ahead, a call centre in Brisbane would be shut, affecting 116 roles. The remaining positions are spread across Melbourne, Sydney and Perth and include jobs already outsourced through staffing agencies.