World Business

 

Eurozone 'untenable' in current form, says world's biggest bond fund

Eurozone

Szu Ping Chan 12:22 AM   The eurozone is "untenable" in its current form and cannot survive unless countries are prepared to cede sovereignty and become a "United States of Europe", the manager of the world's biggest bond fund has warned.

Greece's international creditors mull over reforms

Progress on completing the country's bail-out programme has stalled.

Mehreen Khan 12:22 AM   Greece international creditors spent the weekend mulling over a series of reform measures.

Questions linger after employee's loss in Silicon Valley trial

Ellen Pao is the interim chief executive of Reddit, a popular online bulletin board.

Paresh Dave 12:06 AM   A jury has spoken in a case that riveted Silicon Valley, but that doesn't mean all is over.

Weedkiller, once cleared, now doubted again

Questions over Roundup

ANDREW POLLACK 2:31 PM    Thirty years ago, an Environmental Protection Agency committee determined that the popular weed killer Roundup might cause cancer. Six years later, in 1991, the agency reversed itself after re-evaluating the mouse study that had been the basis for the original conclusion.

Cinderella's new moral: Be rich or be a pumpkin

In the end, Cinderella gets the prince and the palace, and the other women get absolutely nothing. That's the way of tournaments.

Lynn Stuart Parramore 8:46 AM   At first glance, Kenneth Branagh's remake of the classic Disney film seems to offer a sunny romp through the magic kingdom. But a closer look reveals a troubling economic message.

What to study to make a fortune

Do it yourself (diy) super funds Photo illustration Karl Hilzinger 040518

Choosing the right degree at university may be the first step to your first billion.

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Google to pay new CFO more than $70 million

Ruth Porat, who will join Google on May 26, will also get an annual base salary of $650,000.

Google has said it would pay its new Chief Financial Officer, Ruth Porat, more than $70 million through a combination of restricted stock units and a biennial grant.

Janet Yellen says Fed will increase US rates slowly

Federal Reserve chair Janet Yellen.

Binyamin Applebaum   The Federal Reserve chairwoman says the Fed plans to raise interest rates more slowly than during past recoveries because of the unusually fragile condition of the US economy.

Apple's Tim Cook to donate his $1b fortune

Apple logo

Apple chief executive Tim Cook is joining the roster of the very rich who are giving away their wealth - once he's paid for his nephew's education.

Australian businesses neither use nor know about trade agreements

busines and globe

Peter Martin   A new survey has revealed that most Australian businesses neither understand nor use the existing free trade agreements.

Morgan Stanley to Google: women narrow the gap

Tech giants like Apple, Google and Facebook are taking their financial talent from Wall Street.

Carol Hymowitz   Tech giants like Apple, Google and Facebook are taking their financial talent from Wall Street.

The eurozone is becoming a no-go zone

In 2014 the European Banking Authority's stress test identified 14 banks that fell short of the capital requirements.

Yannos Papantoniou   The eurozone is rife with structural weaknesses and that is not sustainable.

ACCC keeps its eye on Heinz-Kraft merger

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Madeleine Heffernan   Australia's competition watchdog is monitoring the global food giants' merger for any possible consequences for Mondelēz, Kraft's spin-off that owns brands such as Ritz and Cadbury in Australia.

Forget when the Fed will raise rates - the problem is how

Rates conundrum: Fed chairwoman Janet Yellen.

Liz Capo McCormick and Matthew Boesler   For all the talk about when Federal Reserve policy makers are going to raise interest rates, they haven't quite figured out how to do it as the market is awash with excess cash reserves.

Kraft a menu at the Buffett buffet with Warren's latest deal

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Zachary Tracer   Warren Buffett's taste for junk food - namely Cherry Cokes and ice cream - is well known. His latest deal, the merger of Kraft Foods and H.J. Heinz, adds some intriguing possibilities to a day spent eating an all-Berkshire diet.

Kraft agrees to merge with HJ Heinz

Kraft shareholders will receive 49 per cent of the stock in the combined entity, plus a cash dividend of $US16.50 a share.

Craig Giammona and Matthew Boyle   Kraft Foods Group will merge with HJ Heinz in a deal orchestrated by 3G Capital and Warren Buffett's Berkshire Hathaway.

Chinese drinkers down more than Aussies, Brits, Irish

Gan bei, na zdorovie: China's president Xi Jinping  and Russia's president Vladimir Putin raise their glasses after signing joint documents in Shanghai last year.

Lauren Davidson   China’s rapidly growing middle class has created a new nation of boozers.

Fonterra readies for new equity fund launch as profits fall

New Zealand dairy co-operative Fonterra reported a 14 per cent fall in revenue for the half to $NZ9.7 billion.

Tim Binsted   New Zealand dairy giant Fonterra has cut its dividend forecast as it reported a 16 per cent drop in half-year profit to $177.7 million.

Hutchison to buy UK's O2 for $US15.3 billion

O2 logo

Amy Thomson and Rodrigo Orihuela   Billionaire Li Ka-shing's Hutchison Whampoa Ltd is preparing to create the UK's biggest wireless provider by customers.

Private equity firm 3G Capital said to be in talks to acquire Kraft Foods

Boxes of Kraft Foods.'s macaroni and cheese in a supermarket shelf.

Jeffrey McCracken   Brazilian private equity form 3G Capital is in advanced talks to acquire Kraft Foods and merge it with ketchup maker H.J. Heinz, a person with knowledge of the matter said.

Orange juice enters bull market with biggest rally since 1998

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Marvin G. Perez   Orange-juice futures have posted he biggest three-day rally in 16 years as fruit prices rise amid mounting concerns over crops in Florida, the world's second-biggest producer.

War of the Wynns rocks casino empire

Happier days: Stephen and Elaine Wynn in 2006. “We’re still partners in the business,” Mr Wynn said in 2010 after the couple’s divorc

Steve Friess   The battle between the Wynn Resorts' divorced co-founders Stephen and Elaine Wynn over their casino empire is escalating, bringing up allegations that involve James Packer's latest foray into Las Vegas.

Singapore ripe for rethink on Lee's economic model

William Pesek

William Pesek   As Lee Kuan Yew leaves the scene, it's Singapore's turn to confront questions about whether it can still compete.

China March flash HSBC PMI contracts to 11-month low

HSBC's measure of Chinese manufacturing activity has fallen to an 11-month low.

Activity in China's factory sector dipped to a 11-month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the world's second-largest economy.

Fraud raises question over Apple Pay security

Apple Pay

Hayley Tsukayama and Sarah Halzack   A sharp rise in reports of fraudulent Apple Pay transactions is now raising questions about the security of the first mobile payment system to find a measure of popular success.

Arnold Schwarzenegger muscles in on wristwatch market

MELBOURNE, AUSTRALIA - MARCH 15:  Actor Arnold Schwarzenegger stands on the grid for the national anthem before  the Australian Formula One Grand Prix at Albert Park on March 15, 2015 in Melbourne, Australia.  (Photo by Mark Thompson/Getty Images)

Corinne Gretler   Arnold Schwarzenegger has embarked on a business endeavor that may surprise fans of his movies more than aficionados of timepieces.

Disney CEO kept Steve Jobs's cancer a secret

Bob Iger, president and CEO of Disney.

Tim Higgins   Walt Disney CEO Bob Iger knew early on that Steve Jobs's cancer had returned and kept it a secret for three years, a new biography reveals.

Five amazing things we've been promised 'within five years'

A prototype of a Google self-driving car: The company is building cars that don't have steering wheels, accelerator pedals or brake pedals.

Mark Milian   Self-driving cars, killer robots, delivery drones: Five years may seem like an arbitrary time frame to promise delivery of a controversial, unproven product, but it turns out to be a sweet spot for business leaders' technology predictions

Kazakh uses toilets to hedge against ruble fallout

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When the ruble plunged 37 per cent in the first half of December, Kazakh businessman Marat Mukhamedov spotted an opportunity: Russian toilets.

Gold loses century of pricing tradition to technology

The first gold fixing took place in 1919 in a wood-paneled room at Rothschild's offices in London. Dealers each had small Union Jacks to signal the need to change orders.

Eddie van der Walt   Almost a century of tradition will disappear as technology takes over: Today is the last day that traders at four banks agree by phone twice-daily on prices used by miners to central banks to deal and value gold.