Sectors

New ResMed Technology Helps Improve Sleep and Quality of Life

Wed, 04 May 2011 21:39:41 +0530

Written by Elissa Miller, ResMed

Sleep apnea, a common but little-known disorder, affects 1 in 5 adults. It stems from closure of the airway during sleep which causes breathing to stop -- sometimes for more than a minute -- often leaving the sufferer gasping for air. In severe cases, this can happen hundreds of times each night leading to serious health risks, including increased heart rate, higher blood pressure and potentially, heart attack and cardiovascular disease.

The symptoms of sleep apnea include fatigue, depression, decreased sex drive, poor concentration/memory and waking with a headache or dry sore throat. While many people perceive snoring as a common and harmless problem, it can be a clear symptom of this serious condition. Over 80 per cent of patients with moderate to severe sleep apnea are thought to be undiagnosed and untreated.

Luckily, there are safe and effective treatments available. Continuous Positive Airway Pressure (CPAP) therapy is recognised as the most effective treatment for the majority of cases. With this therapy, a bedside device gently delivers pressurised air via a mask to keep the upper airway open.

“People with sleep apnea often find their quality of life severely reduced. The challenge in diagnosing sleep apnea is that many sufferers are unaware that they may have the disorder,” said Mr Rob Douglas, Chief Operating Officer, ResMed Asia Pacific.

“CPAP treatment acts on a relatively simple principle of blowing air into the airway, but the latest technology behind ResMed CPAP devices, like the new S9 Series, is truly innovative,” said Mr Douglas.

With significant investment in R&D, a cross-functional team of industrial designers, mechanical, electrical, software, system engineers and technology partners, ResMed has taken CPAP therapy to a new level of effectiveness, significantly enhancing the patient’s quality of life.

An example of such collaboration is the S9 Series’ integrated microchip technology, provided by STMicroelectronics. The technology provides sensing support to help automatically control the air pressure needed by the patient; it also allows for extensive data logging, and supports a colour LCD screen to help make the device easy to use.

ResMed’s S9 Series has the functionality of a high-tech medical device, coupled with cutting-edge, yet easy-to-use design to ensure patients experience a healthy and restful night’s sleep. Now available in Australia, visit www.S9morecomfort.comand www.resmed.comfor details.

Australian Dollar Hits Record High, Shows No Signs of Slowing Down

Mon, 28 Mar 2011 12:33:36 +0530

It seems that global investors are catching onto the Australian resources boom, and the value of the Australian dollar is rising as a result.

The Australian dollar hit a 28-year high Monday, hitting $US1.0314, a 10.5 per cent jump in the value of the Australian dollar in less than two weeks. According to the Wall Street Journal, “The currency was buoyed Monday by the same themes that lifted it last week, when the Australian dollar was helped by the movement of insurance companies looking to pay for damages from a slate of natural disasters that hit the country earlier this year.”

The peak can also be contributed to the weakening of the Japanese yen following the earthquake and tsunami almost three weeks ago. The strengthened Australian dollar is also contributed to international corporate flows and stronger risk appetite.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Wealthiest Industries in Australia
* Top Mining CEOs
* Australia's Top Construction Companies
* Check out the latest issue of Business Review Australia!

Analysts are also saying that the resilience of the Australian dollar makes it a strong performer when other currencies are on the decline, including the US dollar. “The Aussie will weaken to 98 US cents by year-end, while New Zealand’s currency will fall to 75 cents, according to the median forecast of economists surveyed by Bloomberg,” Bloomberg reported.

However, some domestic markets are still struggling. Wingate Group chief investment officer Chad Padowitz told The Sydney Morning Herald, “The high currency and high interest rates are affecting the rest of the economy, so the entire corporate sector is not doing that well. Retail sales are quite weak, and higher interest rates aren't good for anybody. I think the Australian market has lagged international markets for some time because of that dynamic. I don't see that changing in a hurry.”

Despite the high interest rates and rush to catch up to international markets, the Australian dollar shows no sign of slowing down.

Sigma Pharmaceuticals Shares Surge with News of Special Dividend

Mon, 28 Mar 2011 01:46:35 +0530

Despite reporting a full-year loss of $235.4 million, Sigma Pharmaceuticals shares rose more than 10 percent to 46 cents Monday.

The drug wholesaler, which services about 4,000 pharmacies throughout Australia, said it would pay a special fully franked dividend of 15 cents per share from the proceeds of the $900 million sale of its generic drugs business, Aspen Pharmacare.

Sigma CEO Mark Hooper said, “While the reported net loss was disappointing, it is pleasing to see at the operational level, the Healthcare Business has continued to grow and remain despite the recent challenging times.”

Mark Hooper said, “While the business stabilized, we can concentrate on reinvigorating our core operations, in both wholesale and retail. A culture of responsiveness and innovation will place the company well to meet industry’s on-going change. We have a clear financial model as we seek profitable growth with due regard to key metrics including return on investment.”

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Wealthiest Industries in Australia
* Top Mining CEOs
* Australia's Top Construction Companies
* Check out the latest issue of Business Review Australia!

Sigma still has to lift itself out of the setbacks it faces coming from a string of undesirable occurrences that happened last year. Last December, Pfizer, a major supplier, had withdrawn from the wholesale business, resulting in a 15 per cent fall in revenue in its wholesale division.

According to The Australian, “While there are still further challenges to be faced under changes to the Pharmaceutical Benefits Scheme and the loss of 10 to 15 per cent in sales volume from Pfizer's decision to distribute drugs directly to pharmacists without going through Sigma, Mr Hooper was confident the company would return to profit when it reports in July.”

Hooper is confident that the business will grow over the next six to 12 months.

Forbes Says the Nintendo 3DS could be 2011's Most Important Gadget

Sat, 26 Mar 2011 12:00:00 +0530

The days of the original clunky, brick-like Game Boys are long gone. Portable, or hand held games, have come a long way since the 90s and this is evident through the new Nintendo 3DS. The Nintendo 3DS gives hope to gamers everywhere and proves that 3D gaming is possible.

The Nintendo 3DS will go on sale in March in Australia and will look similar to the rest of the portable games in the DS line. According to Forbes, Nintendo has sold more than 145 million units in the DS line, making it the best-selling portable in history.

The way the Nintendo 3DS produces a 3D effect is the top screen is obscured by a parallax barrier, so each of your eyes sees a different set of pixels, says Forbes. This is what gives the 3D effect, without the use of awkward glasses.

The Nintendo 3DS is groundbreaking in the world of portable gaming and technology. This portable 3D game is the first of its kind and proves to the world and gamers alike that 3D is possible.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* The Best Laptops for Executives
* Cloud Computing is Transforming IT
* Business Guide to Google
* Check out the latest issue of Business Review Australia!

One drawback of this game though is the not-so-small price tag. According to Forbes, the Nintendo 3DS is weighing in at a grand total of $249.99. To put that into perspective, the Nintendo Wii, which is a console system, is sold for only $200.

But it seems that despite the cost, the Nintendo 3DS may prove to be a success. When it was released in Japan on February 26 it sold 400,000 units in just 24 hours, says Forbes.

The Nintendo 3DS has the ability to transport gamers into a whole new interactive world, making the original Mario Game Boy games seem ancient and prehistoric. This aspect alone makes the Nintendo 3DS a success.

HP Touchpad Means New Competition for iPad 2 and Xoom

Thu, 24 Mar 2011 12:00:00 +0530

These days it’s getting harder and harder to stay on top of the latest and greatest trends in the technology world. The options are endless for consumers when it comes to new technological gadgets and toys, especially tablet computers. While die-hard Apple users have the iPad and PC lovers have the Motorola Xoom, where does the new HP TouchPad fit into the market?

The HP TouchPad is one of the newest tablets, competing with existing iPads and Xooms. The TouchPad has a 9.7-inch touch display, is powered by a Qualcomm Snapdragon dual-core 1.2GHz processor and has a front facing camera, beating out the iPad and iPad 2, which have no cameras at all.

One of the greatest features of the TouchPad is its high level of synergy between WebOS devices. The TouchPad has the ability to sync with a Palm Pre 3 simply by touching a Palm Pre 3 to the sensor on the TouchPad. This feature also allows users to receive and answer texts on the TouchPad, which is great for those who have a Palm Pre 3 and are fully into the HP WebOS system, but for those who aren’t, this feature may seem unappealing.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* The Best Laptops for Executives
* Cloud Computing is Transforming IT
* Business Guide to Google
* Check out the latest issue of Business Review Australia!

Overall the TouchPad is a neat new gadget that will bring some fierce competition to the market, but the release of this new tablet is still unknown. In its press conference, HP did not give an exact release date and made no mention of the device going international. However, HP and Palm enthusiasts in Australia are not worried. According to iTWire, some Australians plan on importing the TouchPad if it’s not made available in Australia any time soon.

Spotlight on BHP Billiton CEO Marius Kloppers

Thu, 24 Mar 2011 04:46:05 +0530

It’s not easy running the world’s largest mining company, but South African-born Marius Kloppers has grown BHP Billiton’s revenues from $39 billion to $50 billion since being appointed to Chief Executive Officer in 2006. The main man (and our October issue cover story) at BHP has extensive knowledge of the mining industry and of BHP Billiton’s operations, overseeing the global company’s production of iron ore, copper, coal and beyond.

No doubt Kloppers is behind BHP Billiton’s Thursday announcement that it is dumping $7.4 billion into expanding its iron ore operations in Australia. The company plans to deliver over than 220 million tons a year, with the first production expected from the new Jimblebar mine in early 2014.

The majority of the investment is for the development of Jimblebar mine and rail links, and the procurement of mining equipment and rolling stock that will deliver initial capacity of 35 mtpa, BHP said Thursday.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Top Mining CEOs
* Developing a Sustainable Resources Future
* The Top 5 Wealthiest Industries in Australia
* READ THE LATEST ISSUE OF BUSINESS REVIEW AUSTRALIA!

So, who is the man behind these big decisions, anyway? According to Energy Digital, he’s been involved with the mining and resource industry since 1993, and took on the role of BHP Billiton CEO in October of 2007. Kloppers was also appointed to the role of Group President, Non-Ferrous Materials and Executive Director in January 2006. Now, according to Forbes, the 48-years-old Kloppers took home $11 million in 2010, and is one of Fortune 500 Magazine’s Top 25 Most Powerful People in Business.

Before he became CEO, Marius Kloppers held roles as the Chief Commercial Officer, Chief Marketing Officer and Group Executive of Billiton Plc. He has also been Chief Executive Officer at Samancor Manganese and held various senior positions at Billiton Aluminum, among them Chief Operating Officer and General Manager of Hillside Aluminum.

Kloppers graduated from Helpmekaar Kollege of Johannesburg, and received a Bachelor of Chemical Engineering from the University of Pretoria. The CEO also received an MBA from INSEAD and a PhD from the Massachusetts Institute of Technology.

Coca Cola Amatil Secures Sweet Contract with Jim Beam

Wed, 23 Mar 2011 01:02:54 +0530

Building upon the success of their existing relationship, soft drink manufacturer Coca-Cola Amatil has extended a contract with Beam Global to drive growth and market share in Australia.

The 10-year incentive-based agreement comprises the manufacture, sale and distribution of Beam premium spirits and ready-to-drink products in Australia, where Beam Global’s flagship brand, Jim Beam Bourbon, is the country’s top-selling spirit and Jim Beam and Cola is the number one-selling ready-to-drink spirits brand, Beam said.

“We are delighted to sign this new, 10-year agreement with Beam Global. Not only does it represent a more valuable long-term partnership with the makers of some of the world’s premium spirits brands, it cements a relationship which, in a very short period of time, has been very successful for both partners,” said Terry Davis, Group Managing Director of CCA.

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK
* Australia's Industry Leaders: 2010 Edition
* Austral Supplies Responsible Refrigeration
* The Sweetest Franchises
* Check out the latest edition of Business Review Australia!

The new agreement is an expansion of the arrangement established with Beam Global in 2007 where Coca-Cola Amatil managed all the sales and distribution function of Beam Global’s spirits portfolio on behalf of Pacific Beverages. As part of the contract, Beam Global will continue to deliver new product innovations, advertising, sponsorship and promotions for Beam Global’s brand portfolio.

Phil Baldock, Beam Global President, Asia-Pacific/South America said, “Coca-Cola Amatil’s retail market expertise and distribution reach, along with Beam Global’s brand-building power and innovative consumer communication, is a powerful combination that will give us a winning competitive edge in the marketplace.”

Beam’s portfolio includes Jim Beam ready-to drink products, Canadian Club and Canadian Club RTDs, Maker’s Mark Bourbon and Courvoisier Cognac.

Qantas Staff Upset Over Travolta Safety Video

Tue, 22 Mar 2011 01:55:07 +0530

He sang and danced his way into our hearts with smash hits like Grease and Saturday Night Fever. Back in the day John Travolta was the ultimate hunk. The way he wore that black-leather-T Birds jacket just melted my 10-year-old heart. But these days it seems Travolta is doing everything but melting hearts.

John Travolta is the new face of Qantas, starring in its safety video. Travolta is a skilled pilot with more than 40 years of experience; owning his own Boeing jet named Jett Clipper Ella, after his children. In 2010 Travolta was even named goodwill ambassador for Qantas Airlines.

With all of this experience and credibility under his belt, it seems like Travolta would be the perfect candidate for the Qantas safety video. But the staff and crew of Qantas aren’t exactly pleased with the video; in fact, they are downright fuming over it.

Many staff and crew members of Qantas have taken to online forums to express their disgust. In the video Travolta refers to the crew as a ‘team,’ which most the crew found insulting. “We feel it’s demeaning to be called ‘the team,’” an employee reportedly wrote in an online chat room, according to news.com.au. “It makes us feel like we work at McDonald’s.”

According to College News, Qantas staff members are up in arms over this video dubbing it ‘tacky,’ ‘corny’ and ‘cringe worthy.’ Then who better to represent Qantas in its safety video?

Many of those at Qantas feel that heroic pilot Captain Richard De Crespigny would better represent Qantas safety. De Crespigny saved the lives of approximately 466 people after the plane he was flying suffered engine failure leaving Singapore.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* The Best Laptops for Executives
* Cloud Computing is Transforming IT
* Business Guide to Google
* Check out the latest issue of Business Review Australia!

But despite backlash from the crew and staff, a spokeswoman for Qantas said they only received positive feedback from the customers and staff. “We’re really happy with the video and we think it’s really engaging,” she said, according to news.com.au.

Check out the video and see for yourself, ‘tacky’ and ‘cringe worthy,’ or ‘engaging’?

http://www.youtube.com/watch?v=bo7_ABxgnks

Riversdale Inches Closer to Accepting $3.9 Billion Rio Tinto Bid

Mon, 21 Mar 2011 12:01:15 +0530

Rio Tinto appears to be getting even closer to obtaining more than 50 per cent interest in coal company Riversdale Mining, with the announcement that is has extended its $3.9 billion bid by three trading days to March 28.

This is the third time the deadline has been extended to accommodate Riversdale shareholders that were unsure about selling the company to Rio Tinto. Thanks to those extensions, Rio Tinto has now secured shares and commitments over 33.04 per cent of Riversdale shares. Rio Tinto still needs to reach 50 per cent ownership by the March 23 deadline it has set for its revised offer.

Rio Tinto originally offered Riversdale Mining A$16 per share, but with other Riversdale owners, CSN and Tata Steel increasing their stakes, Rio upped the offer to $16.50 last week. The increased share offer has secured more acceptances. “Rio can continue extending the deadline for its offer for 12 months, although it has said its sweetened bid is final unless a rival suitor makes a counteroffer,” the Wall Street Journal said Monday.

Rio Tinto CEO Doug Ritchie said last week, “There has been no sign of a competing proposal in the 11 weeks since the bid was announced. The choice of Riversdale shareholders is clear—accept the $16 or $16.50 on offer or risk seeing their share price return to pre-bid levels. There is no question that Rio Tinto’s expertise is crucial to overcoming the development challenges of Riversdale’s projects.”

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Australian Resource Companies Looking to Float in 2011
* Developing a Sustainable Resources Future
* The Top 5 Wealthiest Industries in Australia
* READ THE LATEST ISSUE OF BUSINESS REVIEW AUSTRALIA!

The deal is a no-brainer for Rio Tinto, who has extensive coking coal experience in Africa, but could benefit greatly from Riversdale’s lucrative Mozambique operations. “Riversdale's Benga project, which is forecast to produce 20 million tonnes of coal a year by 2013, is one of the main attractions for Rio,” The Sydney Morning Herald said.

According to the Wall Street Journal, “Rio also won’t want to be forced to capitulate and walk away from an acquisition having only revived its image following the badly timed US$3.8 billion acquisition of aluminum producer Alcan at the top of the market.”

Earthquake, Tsunami in Japan Delay Launch of Apple iPad 2

Mon, 21 Mar 2011 01:13:57 +0530

The devastating earthquake and tsunami that struck Japan nearly two weeks ago could delay global launches of the Apple iPad 2, research firm IHS iSuppli found in a teardown analysis of the iPad 2.

There may be supply shortages and logistical disruptions with the iPad 2, which has several components supplied from Japan. Some of those components include a “hard-to-replace” electronic compass from AKM Semiconductor, the crucial battery from Apple Japan, NAND flash memory from Toshiba and DRAM dynamic random access memory from Elpida Memory.

While not all of the mentioned companies have experience damage, they are encountering difficulties in getting raw materials and with employee absences because of transportation issues. IHIS iSupply also found that, “"The various challenges are being compounded by interruptions in the electricity supply, which can have a major impact on delicate processes, such as semiconductor lithography.”

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* The Best Laptops for Executives
* Cloud Computing is Transforming IT
* Top Australian Inventions
* Check out the latest issue of Business Review Australia!

The aftermath could see Apple switching to US or South Korean suppliers, such as Samsung, to source these components in order to meet the demand for the iPad 2. Samsung supplies NAND flash memory and could be sourced by Apple.

“These issues may come at a time when Apple is rushing to ramp up iPad 2 production to meet stronger-than expected demand for the device,” IHIS iSupply reported.

The iPad 2 is already available in the United States and is scheduled to hit stores in 26 other countries, including Australia, this week. Apple formally announced it was delaying the release of the iPad 2 in Japan because of the disaster.

Wesfarmers Puts Premier Coal Mine on the Market for Foreign Buyers

Thu, 17 Mar 2011 12:21:22 +0530

Perth-based conglomerate Wesfarmers has put a “For Sale” sign on its Premier Coal mine to reap the benefits of interest in Australian resource assets from foreign companies.

Wesfarmers Resources Managing Director Stewart Butel said interest in the Collie Coal Basin, located 200 km south of Perth, has increased since the adjacent Griffin mines were sold to India-based Lanco Infratech for $830 million last year.

According to The Australian, “It is understood interest will be led by Chinese and Indian companies, including Lanco, which may be keen to realise efficiencies by owning both the Premier and Griffin mines near Collie, 200km south of Perth.”

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Australian Resource Companies Looking to Float in 2011
* Developing a Sustainable Resources Future
* The Top 5 Wealthiest Industries in Australia
* READ THE LATEST ISSUE OF BUSINESS REVIEW AUSTRALIA!

The newspaper reports that another prospective buyer is “India’s GVK Power & Infrastructure, which lost out to Lanco in the Griffin auction and is among the contenders to buy Gina Rinehart’s $2 billion Kevin's Corner coal project in Queensland.”

“We feel that this is the right time to look at all options for the business ranging from business as usual to building an export-based operation to a joint venture with another party right through to the potential sale of Premier Coal,” Butel said.

While expressions of interest in the mine have been called for, all options will be fully investigated before any final decision is made. “By considering a range of options, we hope to find out how other parties see the Premier Coal value proposition. The results of this process will then be evaluated in light of the options identified,” Butel said.

Motorola Launches Xoom Tablet in US March 27

Thu, 17 Mar 2011 02:20:41 +0530

Today Motorola announced that its 32 GB Xoom Wi-Fi only tablet is expected to be released March 27 in the United States.

The 10.1-inch tablet will be available at Amazon.com, Best Buy, Costco, RadioShack, select Sam's Club locations, Staples, and Walmart both in-store and on their web sites. Motorola also said that the Xoom Wi-Fi will also be available to commercial IT channels and regional retailers through a distribution agreement with Synnex Corporation and regional carriers through Brightpoint.

Motorola is competing with Apple’s iPad 2 which was released March 11 and which sold over a million tablets. A release date for the 32 GB Xoom in Australia is still pending.

Earlier in the year, Motorola had released the 3G Xoom for $799 with a two year contract which was about $70 more than the comparable iPad version. So far, Motorola’s sales figures have lagged behind with a unit sale of less than six figures since its February 24th release.
Motorola hopes to even the playing field by offering the Wi-Fi only 32 G for the same price as the 32GB Wi-Fi iPad.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
*Best Smartphones for Business Executives
*Social Media Dominating Traditional Retail
*Top Ten Cities to Live and Work In
*READ THE LATEST ISSUE OF BUSINESS REVIEW AUSTRALIA!
Features of the Xoom include the exclusive Android 3.0 Honeycomb operating system, a front-facing 2-megapixel camera, a rear-facing 5-megapixel camera for HD video capture, a beta version of Adobe Flash 10.2, and an SD memory card expansion.

Some cons of the Xoom tablet to consider are its lack of apps, lack of support for Flash video and SD cards, and heavier weight.
In response to the news, Motorola’s shares rose as much as three percent Wednesday before cooling and leaving the stock up 0.6 per cent to $23.61 by early afternoon. The stock slumped by more than 20 per cent in the last month due to concern from investors about competition from Apple.

Analysts don’t think the release of the Xoom will affect Apple’s iPad 2 sales but do endorse the Xoom as the best alternative for a Wi-Fi only tablet.

Gindalbie CEO Garret Dixon Steps Down as Project Costs Rise Again

Wed, 16 Mar 2011 02:05:00 +0530

Gindalbie Metals revealed that the costs of their joint venture of iron ore mining with China's Angang Steel Company Ltd (Ansteel) is being raised by 30 per cent because of raised costs for raw material and labor. The cost jumped from $2 billion to $2.7 billion.

This is the second cost overrun for the Karara Mining Project. Last May the original estimate jumped by 20 percent due to infrastructure scope and general inflation from $1.6 billion to $2 billion.

Gindalbie also revealed that chief executive Garret Dixon would be resigning from his position to be replaced by Newmont Mining Asia-Pacific operations senior vice-president Tim Netscher.

According to Gindalbie chairman George Jones, Dixon’s departure from the mining company resulted from a “mutual discussion” between Dixon and the company wherein Dixon’s resignation was a “resolution…in the best interest all parties.” Jones also assured investors that "the company is in good shape.”

Mr. Netscher has served for companies such as Industrea, the Minerals Council of Australia and Vale Australia. He will receive an annual salary of $1 million plus bonus payments of up to 20 percent of his salary and up to three million share options depending on his performance.

Gindalbie has also appointed Shao An Lin from Ansteel to the position of director. The mining company said that the search for another independent director was well underway with an appointment expected in the next few months.

READ RELATED STORIES FROM THE WDM CONTENT NETWORK
* Australian Resource Companies Looking to Float in 2011
* The Department of Mines and Petroleum: Developing a Sustainable Resources Future
* The Top 5 Wealthiest Industries in Australia
* READ OUR LATEST BUSINESS REVIEW AUSTRALIA MAGAZINE !

According to Gindalbie, the increases in costs are the result of changes to the scope of the mining project, industry-wide cost pressures, and the fact that the company started building before the design was finished.

Mr. Jones also said yesterday that though Ansteel was clearly not happy with the latest cost blowout, they still remain supportive and eager to begin work on the mining project. Ansteel is China’s fourth-largest steelmaker and has a 35.9 percent stake in Gondalbie.

The mining project plans to produce 10 million tons of ore annually in stage one with a peak goal of 30mtpa. The Australia company is planning an increase in capacity from 10 million tons a year to 16 million tons a year from 10 million tons. However, according to a report by Royal Bank of Scotland Group Plc, Gindalbie may have to sell as many as A$150 million of shares to help pay for this more expensive mine.

The Australian stock market responded positively to the announcements as Gindalbie’s shares rose 6.8 percent to A$1.1015 at 1:32 p.m. Sydney time. The Royal Bank of Scotland revised its recommendation on Gindalbie shares from “buy” to “hold” according a report from analyst Todd Scott.

Final prices for the project are tentatively planned to be released in May.

Mr. Jones wryly remarked that "We don't want to put out numbers that we have to change again.”

Air New Zealand Reports Profit Loss for Rest of Year

Tue, 15 Mar 2011 12:35:29 +0530

“It's just been a terrible year for airlines… (from) natural disasters (to) snow storms in Europe and then floods here and earthquakes and tsunamis," according to Comm Sec analyst Matt Crowe.

The terrible year continues as Air New Zealand released a statement today that the company does not expect to be profitable in the second half year and that earnings are projected to fall below US $100 million.

Three weeks earlier the airline had released interim projections that hoped for profitability despite rising fuel costs and the expensive effects of the Christchurch earthquake. In the past year, the airline had increased domestic and long-haul fares about 7 percent. Air NZ had also recently increased its fares to match the rising fuel costs of up to US $10 million per month in operating costs.

READ RELATED STORIES FROM THE WDM CONTENT NETWORK
TOP TEN CITIES TO LIVE AND WORK
BEST SMARTPHONES FOR EXECUTIVES
BUSINESS CELEBS KYLIE MINOGUE: STILL HOT
CLICK HERE TO READ THE LATEST BUSINESS REVIEW AUSTRALIA!

Market volatility and the statement released by Air NZ made the Qantas Airways Limited shares fall to close at $2.12 yesterday which was the lowest price since July 2009. Virgin Blue shares also dropped 1.5c to close at 33c.

Matt Crowe continued his commentary, saying that "I think we'll see more of this (and that according to Air NZ) the impact of rising fuel outweighed that of the earthquakes.”

He also noted that both Air NZ’s profit loss and the Japan earthquake would also impact revenue in the aviation market, stating "I think we'll see anybody with exposures to Japan and New Zealand…suffer and obviously Air NZ has a big exposure to New Zealand."

Qantas has also named fuel prices as a major concern and that it recently is gearing up financially in consideration of another fuel surcharge hike. Virgin Blue also raised international fuel surcharges by up to $100 on a return journey and on domestic fares by up to $10.

The airline industry received further bad news as Boeing admitted that the first 787s would not meet the specifications the US manufacturer had previously claimed.
Air Transport Intelligence reported that Boeing Commercial Airplanes chief executive Jim Albaugh told an aviation conference in Arizona that the airliner would be heavy and was still expected to meet customer guarantees. However it would not meet the claim to fly at a 14,200km to 15,200km range at a maximum take-off weight of 227,930kg with 242 passengers in a three-class configuration.

Visa Tests iPhone that Works as a Credit Card

Tue, 15 Mar 2011 02:03:05 +0530

The new iPhone technology being tested by Visa and ANZ this month uses an Apple iPhone case with a built-in memory card that when waved in front of a contactless payment reader can make purchases of up to $100 without a signature.

50 people in Sydney and Melbourne, Australia are testing the iPhone credit cards for a month. These two locations were chosen for testing due to its high rate of mobile phone use and residents’ willingness to try new technology.

Mr. Vipin Kalra, Visa’s Australia manager, called the new technology a "turning point" for the company. He also stated that the idea of turning a mobile phone into a digital wallet had been a potential feature for long time but that the simplified technology between phone makers and credit cards had not been available until now.

READ RELATED STORIES FROM THE WDM CONTENT NETWORK
BEST SMARTPHONES FOR BUSINESS EXECUTIVES
IBM’S WATSON COMPUTER IS CHANGING IT SYSTEMS
AN INSIDER’S LOOK AT THE VENTURE CAPITAL INDUSTRY
CLICK HERE TO READ THE LATEST BUSINESS REVIEW AUSTRALIA

Visa designed the trials to prove that financial companies could launch the technology without waiting for manufacturers to add it to phones.

Kalra commented that "It's quite surprising that it's 2011 and we still don't have a solution like this available for consumers (yet)."

The iPhone cases are built by DeviceFidelity in conjunction with Visa to use a MicroSD memory card that works with an app and a prepaid debit card.

In future, Mr. Kalra said that these memory cards could be inserted directly into BlackBerry and Google Android phones rather than using a case to make payments by mobile phone. He also said that Visa would seek to make the service commercially available in the United States this year with Australia to follow.

A similar test by Telstra and the National Australia Bank was done more than a year ago which created over 20,000 contactless payment terminals in Australian stores.

Critics of the technology worry that the convenience of combining a phone with a credit card would make it too easy for consumers to both overspend and to be exploited by criminals. Cell phones are one of the most frequently lost items and adding a credit card option that could make $100 purchases without signatures would significantly increase theft.

NAB Eyes 600 Lloyd Banking Group Branches For Sale

Mon, 14 Mar 2011 03:12:22 +0530

NAB’s CEO Lynne Peacock is reported to have put the acquisition of 600 bank branches from Lloyds Banking Group as a company priority according to The Sunday Times.

NAB already owns Clydesdale and Yorkshire banks in England but has underperformed significantly in recent years at these branches.

Chief Executive Cameron Clyne said last week that he received regular inquiries from investors as to the profitability of the banks, citing that “(the Clydesdale and Yorkshire banks business) is a clear drag on our performance” and that the company is searching for “a solution to that.”

Lloyds itself is being forced to sell the branches as a condition to receive a bailout from the British taxpayers. Lloyds’ new CEO Antonio Horta-Osorio is speeding up the sale of the business through adding extra items such as 19 percent of the bank's total mortgage book, a 4.6 percent share of the British current account market, and the TSB brand. The deadline is 2013 but Horta-Osorio surprised investors by initiating the sale this month.

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK
* AN INSIDERS LOOK AT THE VENTURE CAPITAL INDUSTRY
* TOP TEN CITIES TO LIVE AND WORK IN
* BEST SMARTPHONES FOR EXECUTIVES
* READ THE LATEST BUSINESS REVIEW AUSTRALIA MAGAZINE

However there are major concerns as to NAB’s financial ability to acquire the branches. NAB faces a significant funding gap on the Lloyds’ loan book. There is speculation that NAB could put Clydesdale on the London Stock Exchange to help finance the purchase.

Nevertheless NAB would still have to deal with acquiring the assets and liabilities (loans and deposits) of those with accounts at the Lloyd branches. The financial effects of bringing those financial obligations onto their balance sheet would greatly increase the cost of the deal. Another issue for NAB is potentially integrating a network twice its current size.

NAB also faces competition for the branches from Virgin Money and NBNK.

NAB chief Cameron Clynes said that in regards to its funding problems, the company would proceed carefully.

''We will not do a fire sale just to move it (Clydesdale and Yorkshire banks) off our books, nor will we do a silly acquisition (Lloyd’s branches) to say we've got scale. We've got very clear financial criteria...(to either) sell on attractive terms, or...acquire on attractive terms and in the interim (to) run it well."

Similarly, Lloyds’ Horta-Osorio says that their selling strategy is more cautious and dependent upon the reaction of the market.

“(If) the market starts to become liquid, assets may come up for sale (making Lloyds’ be) seen as a credible acquirer because we've got a high-quality asset," he said.

"On the flipside, if opportunities come to divest the asset, then… we (will) run it well, (and) be in a better position."

Why Joint Ventures Should Be Part of Every Corporate Strategy

Fri, 11 Mar 2011 11:43:40 +0530

A joint venture is a legal term that describes the relationship between two or more parties engaging into an agreement to work towards the same strategic outcome while remaining separate entities.

It is a theme that is becoming more common between Business Executives and corporations who look to use the strategy to create joint ventures alliances with strategic partners in their chosen industry. By pooling individual resources together, corporations are able to increase the growth of their business, gain market share and most importantly drive the bottom line much faster.

Strategic Alliances were the Key Element for Toshiba’s Corporate Strategy. In the early 90’s Toshiba signed a co-production agreement for light bulb filaments with GE and Jack Welch, the legendary former CEO of GE. After signing that deal, Toshiba continued their surge by creating strategic alliances across their range of products with partners that include: Apple Computers, Ericsson, GE, IBM, Microsoft, Motorola, National Semi Conductor, Samsung, Siemens, Sun Microsystems and Thomson.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* The Best Laptops for Executives
* Cloud Computing is Transforming IT
* Business Guide to Google
* Check out the latest issue of Business Review Australia!

Toshiba firmly believed that in order to grow their brand into becoming one of the leading players in the electronic industry it would not have been possible without the support of their strategic partners within the industry.

“A single company cannot dominate any technology or business by itself” (Mr. Sakaida, President & CEO)

This is only one example of how corporations all around the world are using Joint venture partnerships as part of their corporate strategy to create success within their chosen industry.

It is a common theme between most well trusted brands in the world and if you ask any corporate advisor, CEO or Business Executive he or she will explain to you why it is an absolute must to form alliances with key parties in your industry.

Companies who are not proactive in their attempt to secure joint venture partners may run the risk of giving competitors the opportunity to build those relationships instead which could be quite detrimental to the success of their organisation.

Creating a successful joint venture relationship requires a great deal of study and due- diligence. There are several aspects an organisation needs to assess before engaging into any Joint Venture agreement. It is recommended to engage both a brand specialist and corporate advisor to ensure a successful relationship is established.

Optus to Deliver Google Apps Services to Small, Medium Businesses

Thu, 10 Mar 2011 02:22:41 +0530

Optus will begin offering a range of Google Apps to its small and medium business customers in the second quarter of 2011, marking its entry into the “software as a service” market. Neither Google or Optus disclosed the terms of the agreement or pricing details.

As part of the deal with Google, Optus will offer e-mail, calendar, office applications, instant messaging, collaboration and videoconferencing. This is part of a new Optus strategy to develop a new portfolio of cloud-based business tools to small businesses manage their business.

The new Optus strategy also revs up competition for Australia’s top telco, Telstra, who offers cloud services to business customers through Microsoft.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* The Best Laptops for Executives
* Cloud Computing is Transforming IT
* Business Guide to Google
* Check out the latest issue of Business Review Australia!

Managing Director of Optus Small and Medium Business Rohan Ganeson said, “Whether it’s establishing an online presence, collaborating within the business, or reaching new customers, SMBs don’t have to worry about maintaining the back-end IT systems. We are providing small businesses with the tools and support that big businesses have at their disposal today.”

Google’s Asia-Pacific Enterprise Managing Director Doug Farber said, “Australian SMBs often would like to invest in better communication and collaboration tools, but they assume that it’s too expensive or complicated. Our association with Optus today aims to remove these barriers. We’re bringing together Google’s cloud technology with Optus’ business solutions, service and distribution network to provide small business owners an innovative yet easy-to-use offering.”

Rohan Ganeson said, “Combining Google’s business applications with Optus’ range of solutions and dedicated business-class customer service and support will provide SMBs with a real alternative to traditional IT and communications products and services.

Georgina Rinehart is Only Australian on Forbes' Top 100 Billionaires

Thu, 10 Mar 2011 01:25:52 +0530

Forbes released its annual “World’s Billionaires” list today, but only one Australian squeaked into the Top 100.

Mining heiress Georgina Rinehart came in on the list at #100, with an estimated wealth of $9 billion. Rinehart is now Australia’s richest person and the second richest woman in Asia, Forbes reports. The notoriously reclusive Rinehart is the heiress of a family-owned and evergreen royalty from iron ore sold by the Hamersley unit of Rio Tinto. Georgina Rinehart is currently investing in mining, particularly iron ore and coal.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Wealthiest Industries in Australia
* Top Mining CEOs
* Australia's Top Construction Companies
* Check out the latest issue of Business Review Australia!

Topping the list of the world’s billionaires? Mexican telecom magnate Carlos Slim, who has a net worth of a whopping $74 billion, thanks to a stronger peso and Mexican stock market, as well as investments in mining and real estate. Bill Gates made it to the #2 spot, followed by Warren Buffett and Bernard Arnault.

Asia also replaced Europe as the #2 place that billionaires call home, after the US with 413 billionaires. According to The Australian, “The billionaire surge saw an increase in China from 69 to 115, Hong Kong from 25 to 36, India from 49 to 55 and across the Asia-Pacific as a whole from 234 to 332. That easily beats Europe's 300 billionaires, 101 of which are Russian, including 79 living in Moscow, officially the world’s billionaire capital.” Asia's richest individual is India's Lakshmi Mittal, a steel mogul who has an estimated wealth of $31.1 billion. Mittal ranked #6 in Forbes's list.

Other Australians to make the list include Fortescue founder Andrew Forrest, who came in at #145 with $6.7 billion, followed by Frank Lowy and family at #244 and James Packer, who also equaled #244 with $4.4 billion respectively.

Bank of Melbourne Brand to Get Makeover by Westpac

Wed, 09 Mar 2011 03:11:09 +0530

The Bank of Melbourne will be reinstated today in Victoria, after it was consolidated under the Westpac brand in 2004.

According to The Australian, Westpac CEO Gail Kelly will announce that Westpac will start marketing the Bank of Melbourne brand alongside the Westpac brand throughout Victoria. The new branding strategy is part of Westpac’s $100 million campaign to open new Bank of Melbourne branches throughout Victoria. It is believed that all new Bank of Melbourne branches will carry the new brand. Existing Westpac branches in Victoria will be rebranded.

Westpac’s new marketing campaign is likely part of a larger strategy to steal new home loan customers from competitors like the National Bank of Australia, The Australian reports. “National Australia Bank and Westpac have taken the unusual step of carrying out an aggressive nationwide direct marketing campaign to target each other's existing mortgages and a potential new customer base. All the banks have been offering cut-price mortgage deals,” the newspaper said Thursday.

SEE TOP STORIES FROM THE WDM CONTENT NETWORK
* Wealthiest Industries in Australia
* Top Mining CEOs
* Australia's Top Construction Companies
* Check out the latest issue of Business Review Australia!

The rebranding strategy is likely also part of an effort to boost consumer sentiment, which has fallen to its lowest level in nine months on higher petrol prices and concerns about tax issues, according to the Westpac-Melbourne Institute index. Consumer sentiment fell by 2.4 per cent to 104.1 in March, following a 1.9 per cent increase in February.

Westpac purchased The Bank of Melbourne in 1997 in for $1.4 billon. The Bank of Melbourne managed its own brand until 2000, and was consolidated under the national Westpac brand in 2004.