News

Friday, 24 May 2013

Lowe’s out $15 million on Masters hardware: Midday roundup

American hardware group Lowe’s has recorded a $15 million loss on its stake in the Masters hardware joint venture.
 

Bob Jane labelled a “calculating” liar in court as father-son feud continues

Tyre king Bob Jane has been called a liar in court, in the latest development of the continuing legal stoush between himself and his son, Rodney.
 

Dyson takes on Miele in legal stoush over claims about product performance

Miele has had to amend some of its advertisements after being taken to the Advertising Claims Board by its competitor Dyson.
 

Component supply chain to shrink after Ford bails on Australian manufacturing

Ford’s decision to scrap its manufacturing plants over the next three years will have a devastating effect on the automotive supply chain, with component manufacturers being warned they need to diversify and start seeking alternative business models.
 

Securities advisor sentenced to five years in prison for $1.6 million fraud

A former Bell Potter Securities advisor has been sentenced to five years in jail for fraudulent conduct which cost investors and self-managed superannuation fund holders more than $1.6 million.
 

Cleaning company with 2500 employees and $92 million turnover collapses

Administrators have been appointed to cleaning giant Swan Services after the business suffered losses from a number of unprofitable contracts.
 

Billabong sells off Canadian sites as chain remains in trading halt

Billabong has started selling its Canadian stores, in a move which suggests the troubled surfwear company doesn’t expect any private equity sale to include the current full line-up of retail outlets.
 

Packer goes all in on Barangaroo, and cuts his losses on everything else

Recent sales suggest the business tycoon is collecting cash for a new venture.
 

Business concern mounts as apprenticeship numbers fall

An industry body has expressed its concern over figures from the National Centre for Vocational Education Research, which shows a drop in the number of people starting apprenticeships.
 

Pocketbook looks to raise $700k ahead of Dubai pitch competition

Personal finance app Pocketbook is hoping to raise up to $700,000 from local and foreign investors before heading to Dubai in September for the chance to win $50,000 at Sibos 2013.
 

Nine property entrepreneurs on their 30th BRW Rich 200 List

There are nine exceptional property entrepreneurs who have featured on every BRW Rich list since its 1984 commencement.
 

THE LIGHTER SIDE: Ford really is "a going thing"

Before anyone asks, yes, this is a genuine 1960s Ford ad.
 
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