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David Jones dip shows up department store struggles - The Sydney Morning Herald

A deep sales slump at David Jones has underlined the tough conditions in the department store sector and sparked a prediction that lower prices will be needed to lure shoppers.

A trading update released by David Jones's South African-based owner, Woolworths Holdings, revealed sales at its Australian department stores declined 5.3 per cent in the past 20 weeks.

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Read more: David Jones dip shows up department store struggles - The Sydney Morning Herald
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How dyslexic teen Brandon Evertz built a $620 million company without going to uni - NEWS.com.au

BRANDON Evertz is proof you don’t need a uni degree to make it big.

At just 23, the founder of social video review platform Big Review TV is thought to be the youngest chief executive of an Australian public company.

Since listing on the Australian Securities Exchange in 2014, the firm which Mr Evertz bootstrapped off a $500 loan from his dad has soared in value to a market capitalisation of nearly $620 million.

“When I was in school I always had a massive passion for the internet and video,” Mr Evertz said. “I knew I wanted to do something in business involving those elements. I’m dyslexic so in the process a lot of my learning was through video tutorials, and I noticed the same thing with a lot of my friends as well.”

According to Mr Evertz, the business idea came while on a campervan trip around Australia with his estranged dad Richard, himself an entrepreneur. “I didn’t have a...


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Read more: How dyslexic teen Brandon Evertz built a $620 million company without going to uni - NEWS.com.au
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Powerful inquiry into banks in the balance as Nationals MPs ponder crossing the floor - The Sydney Morning Herald

A Nationals-led push to defy Malcolm Turnbull and force a powerful commission of inquiry into Australia's banks could finally succeed, with another backbench Coalition MP suggesting he might cross the floor to back the probe.

Queensland MP Llew O'Brien​ told Fairfax Media that he was a "50-50" chance to vote for a commission of inquiry, which has the same powers as a royal commission but reports to the Parliament, not the executive.

Coalition senator Barry O'Sullivan is leading a Nationals push for a banking commission of inquiry. Coalition senator Barry O'Sullivan is leading a Nationals push for a banking commission of inquiry. Photo: Andrew Meares

If he voted in favour of it, and was joined by one more Coalition MP – for example, fellow Queensland MPs George Christensen or Warren Entsch, who have previously called for a royal commission – an inquiry would likely be established through the support of Labor, the Greens and the crossbench.

Mr O'Brien told Fairfax Media "I'm...


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Read more: Powerful inquiry into banks in the balance as Nationals MPs ponder crossing the floor - The...
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Red Balloon pays penalties for excessive credit card surcharges - The Sydney Morning Herald

"When their face says it all" is the motto Red Balloon touts to people shopping for skydiving, hot-air ballooning and other experiences.

However, the online retailer founded by entrepreneur and television personality Naomi Simson has egg on its face after it paid penalties totalling $43,200 for alleged breaches of consumer laws.

Red Balloon founder Naomi Simson is a judge on television show Shark Tank. Red Balloon founder Naomi Simson is a judge on television show Shark Tank. Photo: Network Ten

The penalties follow four infringement notices issued by the Australian Competition and Consumer Commission, which alleged Red Balloon charged four consumers excessive surcharges on payments they made by MasterCard and Visa credit and debit cards.

"Red Balloon was charging these customers more than allowed under the law prohibiting excessive payment surcharges on card transactions," said ACCC deputy chairman Dr Michael Schaper.

Naomi Simson, pictured with her 1961 Mercedes Benz, said: "Compliance is expensive and hard for small business." Naomi Simson, pictured with her 1961...

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Read more: Red Balloon pays penalties for excessive credit card surcharges - The Sydney Morning Herald
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One Nation's price of government: Ease gun laws - The Australian Financial Review

One Nation's Steve Dickson wants changes to guns laws as the price of supporting one of the major parties in government.

One Nation's Queensland leader Steve Dickson has warned Pauline Hanson's party will have "many" conditions for an incoming government if it holds the balance of power after next Saturday's election.

While Mr Dickson has previously stated taxpayer funding for a new coal-fired power station was a "deal-breaker", he said new dams and roads and relaxed guns laws would also be on the table if the major parties are forced to negotiate in a hung parliament.

It comes as former long-serving Liberal prime minister John Howard took aim at the Palaszczuk government on Friday saying he did not know where Ms Palaszczuk stood on Adani's $16.5 billion Carmichael mine and criticised the rapidly rising number of public servants in Queensland.

"The first requirement of effective...


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Read more: One Nation's price of government: Ease gun laws - The Australian Financial Review
Tags: australian,financial,review,laws,gun,price,government,ease,nation

One Nation's price of government: Ease gun laws - The Australian Financial Review

One Nation's Steve Dickson wants changes to guns laws as the price of supporting one of the major parties in government.

One Nation's Queensland leader Steve Dickson has warned Pauline Hanson's party will have "many" conditions for an incoming government if it holds the balance of power after next Saturday's election.

While Mr Dickson has previously stated taxpayer funding for a new coal-fired power station was a "deal-breaker", he said new dams and roads and relaxed guns laws would also be on the table if the major parties are forced to negotiate in a hung parliament.

It comes as former long-serving Liberal prime minister John Howard took aim at the Palaszczuk government on Friday saying he did not know where Ms Palaszczuk stood on Adani's $16.5 billion Carmichael mine and criticised the rapidly rising number of public servants in Queensland.

"The first requirement of effective...


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Read more: One Nation's price of government: Ease gun laws - The Australian Financial Review
Tags: australian,financial,review,laws,gun,price,government,ease,nation

One Nation's price of government: Ease gun laws - The Australian Financial Review

One Nation's Steve Dickson wants changes to guns laws as the price of supporting one of the major parties in government.

One Nation's Queensland leader Steve Dickson has warned Pauline Hanson's party will have "many" conditions for an incoming government if it holds the balance of power after next Saturday's election.

While Mr Dickson has previously stated taxpayer funding for a new coal-fired power station was a "deal-breaker", he said new dams and roads and relaxed guns laws would also be on the table if the major parties are forced to negotiate in a hung parliament.

It comes as former long-serving Liberal prime minister John Howard took aim at the Palaszczuk government on Friday saying he did not know where Ms Palaszczuk stood on Adani's $16.5 billion Carmichael mine and criticised the rapidly rising number of public servants in Queensland.

"The first requirement of effective...


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Read more: One Nation's price of government: Ease gun laws - The Australian Financial Review
Tags: australian,financial,review,laws,gun,price,government,ease,nation

Here's what economists are saying about Australia's jobs report - Business Insider Australia

Australian employment growth undershot expectations in October, for the first time in a while.

At 3,700, the increase was well below the 18,000 gain that had been expected by economists, and the lowest monthly total since September 2016.

Still, beyond the headline miss, the news was mostly good.

All of the jobs created were full-time positions, and total hours worked increased. And September’s employment gain — originally reported at 19,800 — was also revised higher to 26,600.

Unemployment also declined to 5.4%, leaving it at the lowest level since January 2013.

It was a solid if not spectacular outcome, and one that fits will leading labour market indicators that continue to point to solid job gains ahead.

Now that they’ve had time to look “under the hood” of the October report, it’s time to see what Australia’s economic community have made of it, particularly in terms on what it...


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Read more: Here's what economists are saying about Australia's jobs report - Business Insider Australia
Tags: australia,business,insider,report,jobs,economists

Here's what economists are saying about Australia's jobs report - Business Insider Australia

Australian employment growth undershot expectations in October, for the first time in a while.

At 3,700, the increase was well below the 18,000 gain that had been expected by economists, and the lowest monthly total since September 2016.

Still, beyond the headline miss, the news was mostly good.

All of the jobs created were full-time positions, and total hours worked increased. And September’s employment gain — originally reported at 19,800 — was also revised higher to 26,600.

Unemployment also declined to 5.4%, leaving it at the lowest level since January 2013.

It was a solid if not spectacular outcome, and one that fits will leading labour market indicators that continue to point to solid job gains ahead.

Now that they’ve had time to look “under the hood” of the October report, it’s time to see what Australia’s economic community have made of it, particularly in terms on what it...


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Read more: Here's what economists are saying about Australia's jobs report - Business Insider Australia
Tags: australia,business,insider,report,jobs,economists

Men out-earn women by more than $26500: WGEA 2017 gender pay gap report - The Sydney Morning Herald

The full-time gender pay gap is trending down, but men still take home $26,527 a year more than women on average, and the pay gap is even larger at $89,516 for top management.

The Workplace Gender Equality Agency has released its annual gender pay gap data covering more than four million employees across Australia's private sector, which measures the difference between women's and men's average weekly full-time equivalent earnings, expressed as a percentage of men's earnings. 

Workplace Gender Equality Agency director Libby Lyons says there's no more excuses for pay gaps. Workplace Gender Equality Agency director Libby Lyons says there's no more excuses for pay gaps. Photo: Louise Kennerley

Based on 4621 reports submitted on behalf of over 11,000 employers between April 1 2016 and March 31 2017, the report looks at women's overall position in the workforce. It does not compare like-for-like roles.

The biggest pay gap for all categories (manager and non-manger) was for...


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Read more: Men out-earn women by more than $26500: WGEA 2017 gender pay gap report - The Sydney Morning Herald
Tags: report,gap,sydney,herald,morning,pay,gender,women,out-earn,$26500,wgea,2017,men

Men out-earn women by more than $26500: WGEA 2017 gender pay gap report - The Sydney Morning Herald

The full-time gender pay gap is trending down, but men still take home $26,527 a year more than women on average, and the pay gap is even larger at $89,516 for top management.

The Workplace Gender Equality Agency has released its annual gender pay gap data covering more than four million employees across Australia's private sector, which measures the difference between women's and men's average weekly full-time equivalent earnings, expressed as a percentage of men's earnings. 

Workplace Gender Equality Agency director Libby Lyons says there's no more excuses for pay gaps. Workplace Gender Equality Agency director Libby Lyons says there's no more excuses for pay gaps. Photo: Louise Kennerley

Based on 4621 reports submitted on behalf of over 11,000 employers between April 1 2016 and March 31 2017, the report looks at women's overall position in the workforce. It does not compare like-for-like roles.

The biggest pay gap for all categories (manager and non-manger) was for...


Read full article on News GN Business


Read more: Men out-earn women by more than $26500: WGEA 2017 gender pay gap report - The Sydney Morning Herald
Tags: report,gap,sydney,herald,morning,pay,gender,women,out-earn,$26500,wgea,2017,men

Palaszczuk says she will take Labor to Opposition 'on principle' rather than deal with One Nation - ABC Online

Tim Nicholls listens as Annastacia Palaszczuk speaks

Annastacia Palaszczuk has told a Brisbane audience she would rather lose government than work with One Nation to hold onto power.

In an impassioned speech at a Queensland election leaders forum also featuring LNP leader Tim Nicholls and One Nation state leader Steve Dickson, the Premier said she would be "throwing away" the work she had done in Parliament by agreeing to work with One Nation.

While she has previously made similar comments, the Queensland Labor leader delivered her most emphatic statement on the matter to date at the Sky News event on Thursday night.

"Sometimes you've got to stand on your principles and I will stand on my principles," Ms Palaszczuk told the audience.

"If that means going into opposition, we'll go into opposition.

"I don't want to see the chaos and...


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Read more: Palaszczuk says she will take Labor to Opposition 'on principle' rather than deal with One Nation...
Tags: abc,online,nation,deal,labor,opposition,principle,palaszczuk

Palaszczuk says she will take Labor to Opposition 'on principle' rather than deal with One Nation - ABC Online

Tim Nicholls listens as Annastacia Palaszczuk speaks

Annastacia Palaszczuk has told a Brisbane audience she would rather lose government than work with One Nation to hold onto power.

In an impassioned speech at a Queensland election leaders forum also featuring LNP leader Tim Nicholls and One Nation state leader Steve Dickson, the Premier said she would be "throwing away" the work she had done in Parliament by agreeing to work with One Nation.

While she has previously made similar comments, the Queensland Labor leader delivered her most emphatic statement on the matter to date at the Sky News event on Thursday night.

"Sometimes you've got to stand on your principles and I will stand on my principles," Ms Palaszczuk told the audience.

"If that means going into opposition, we'll go into opposition.

"I don't want to see the chaos and...


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Read more: Palaszczuk says she will take Labor to Opposition 'on principle' rather than deal with One Nation...
Tags: abc,online,nation,deal,labor,opposition,principle,palaszczuk

8@eight: ASX to shoot higher - The Sydney Morning Herald

Not yet. Global markets are not yet ready to capitulate on their strong run this year – an extension of an otherwise generous decade. Rebound was the name of the game across the world this past session, but the recovery effort was uneven with those suffering the worst declines of late offering up the least enthusiasm. The champion of the day's bullish sentiment were US markets. US equity indexes flipped from tentative head-and-shoudlers breakdown to the strongest single-day rally in months. Moving further away from the epicenter of complacency, emerging markets and junk assets are scaling a far deeper crevasse, while global indices were far more measured in their recovery. The question investors and traders need to ask themselves is whether this is a wave of confidence or mere scramble to 'buy the dip' when the first opportunity in a while presented itself. Another consideration:...


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Read more: 8@eight: ASX to shoot higher - The Sydney Morning Herald
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8@eight: ASX to shoot higher - The Sydney Morning Herald

Not yet. Global markets are not yet ready to capitulate on their strong run this year – an extension of an otherwise generous decade. Rebound was the name of the game across the world this past session, but the recovery effort was uneven with those suffering the worst declines of late offering up the least enthusiasm. The champion of the day's bullish sentiment were US markets. US equity indexes flipped from tentative head-and-shoudlers breakdown to the strongest single-day rally in months. Moving further away from the epicenter of complacency, emerging markets and junk assets are scaling a far deeper crevasse, while global indices were far more measured in their recovery. The question investors and traders need to ask themselves is whether this is a wave of confidence or mere scramble to 'buy the dip' when the first opportunity in a while presented itself. Another consideration:...


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Read more: 8@eight: ASX to shoot higher - The Sydney Morning Herald
Tags: sydney,morning,herald,higher,asx,shoot,8@eight

Finance news you need to know today - NEWS.com.au

THE Australian share market looks set to open with a surge following solid Wall Street’s gains fuelled by better-than-expected company earnings and optimism that President Donald Trump’s tax cuts would proceed. At 0700 AEDT on Friday, the share price futures index was up 43 points, or 0.72 per cent, at 5,994.

Meanwhile, the Australian dollar has slipped against its US counterpart with the US dollar index lifting 0.1 per cent as risk appetite returns to markets. The local currency was trading at 75.89 US cents at 0700 AEDT on Friday, from 75.96 on Thursday.

WORLD FINANCE UPDATE:

FRANKFURT — Siemens plans to cut about 6900 jobs across its businesses supplying the power generation and oil and gas industries, which have been hit by the rapid growth of renewable energy.

OSLO — The Norwegian government plans to decide next year on whether to back a proposal from the country’s wealth fund...


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Read more: Finance news you need to know today - NEWS.com.au
Tags: news,today,finance

Finance news you need to know today - NEWS.com.au

THE Australian share market looks set to open with a surge following solid Wall Street’s gains fuelled by better-than-expected company earnings and optimism that President Donald Trump’s tax cuts would proceed. At 0700 AEDT on Friday, the share price futures index was up 43 points, or 0.72 per cent, at 5,994.

Meanwhile, the Australian dollar has slipped against its US counterpart with the US dollar index lifting 0.1 per cent as risk appetite returns to markets. The local currency was trading at 75.89 US cents at 0700 AEDT on Friday, from 75.96 on Thursday.

WORLD FINANCE UPDATE:

FRANKFURT — Siemens plans to cut about 6900 jobs across its businesses supplying the power generation and oil and gas industries, which have been hit by the rapid growth of renewable energy.

OSLO — The Norwegian government plans to decide next year on whether to back a proposal from the country’s wealth fund...


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Read more: Finance news you need to know today - NEWS.com.au
Tags: news,today,finance

Nine stories that reveal the brutally competitive side of Amazon CEO Jeff Bezos - The Sydney Morning Herald

Amazon is known throughout the business world for being a ruthless competitor — and is on track to become the first trillion-dollar company.

But its brutal workplace culture is no secret. Reports from Brad Stone's "The Everything Store: Jeff Bezos and the Age of Amazon" to the New York Times' 2015 feature story suggest CEO and founder Jeff Bezos can be a demanding boss.

NAB's long term plan

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NAB's long term plan

NAB's long term plan

After announcing their full year results, NAB...


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Read more: Nine stories that reveal the brutally competitive side of Amazon CEO Jeff Bezos - The Sydney...
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Melbourne man wins $10000 payout after being sacked for searching for new job at work - NEWS.com.au

A MELBOURNE man has scored a $10,000 payout from his former workplace after he was sacked for using office resources to search for a new job.

The man, who worked as a graphic designer at Melbourne traffic management business Amber Traffic Management, was fired in May for using his work phone and office internet during his job search.

It was also claimed the man sent work files to his private email account.

However, the Fair Work Commission ruled in favour of the employee’s unfair dismissal claim, and ordered the business to pay $10,000 in compensation.

Before he was dismissed, the man was confronted by his boss about copying work files and emailing them to his personal email account and for conducting personal matters on the clock.

The man said he deleted the emails, but claimed his boss didn’t believe him.

He then accused his employer of invasion of privacy. After the confrontation,...


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Read more: Melbourne man wins $10000 payout after being sacked for searching for new job at work - NEWS.com.au
Tags: work,job,news,searching,sacked,man,wins,$10000,payout,melbourne

Melbourne man wins $10000 payout after being sacked for searching for new job at work - NEWS.com.au

A MELBOURNE man has scored a $10,000 payout from his former workplace after he was sacked for using office resources to search for a new job.

The man, who worked as a graphic designer at Melbourne traffic management business Amber Traffic Management, was fired in May for using his work phone and office internet during his job search.

It was also claimed the man sent work files to his private email account.

However, the Fair Work Commission ruled in favour of the employee’s unfair dismissal claim, and ordered the business to pay $10,000 in compensation.

Before he was dismissed, the man was confronted by his boss about copying work files and emailing them to his personal email account and for conducting personal matters on the clock.

The man said he deleted the emails, but claimed his boss didn’t believe him.

He then accused his employer of invasion of privacy. After the confrontation,...


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Read more: Melbourne man wins $10000 payout after being sacked for searching for new job at work - NEWS.com.au
Tags: work,job,news,searching,sacked,man,wins,$10000,payout,melbourne

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