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World Business


Greece won't co-operate with 'troika' or seek aid extension

Greek Finance Minister Yanis Varoufakis.

Greece's new government opened talks on its bailout with European partners on Friday by flatly refusing to extend the program or to cooperate with the international inspectors overseeing it.

Sydney left 'indelible impression' on new Greek finance minister Yanis Varoufakis

Greece's new Finance Minister Yanis Varoufakis.

MATT WADE Yanis Varoufakis, the maverick Greek intellectual appointed to one of the world's toughest economic posts, says the 12 years he lived and worked in Sydney has left an "indelible impression" him.


Jack Ma takes $US1.4b hit as Alibaba dives

Alibaba chairman Jack Ma.

Jack Ma’s fortune dropped $US1.4 billion as Alibaba shares posted a record slump after the company missed revenue estimates.


Google revenue is higher, but profit disappoints

Google CEO Larry Page.

Conor Dougherty Google is still trying to tune its advertising machine for an audience on mobile devices.


Sri Lanka blocks James Packer's Crown's $US400m casino project

Sri Lanka's new government has dealt a blow to James Packer's offshore expansion of Crown casinos.

Sri Lanka's new government has blocked a $US400-million casino project by Australian gaming mogul James Packer's Crown Resorts as part of a wider move against major gaming projects in the country.


Australian Trent Martin's insider trading case thrown out of court

Sydney stockbroker Trent Martin was accused of sharing a tip about a pending takeover bid with his roommate.

Erik Larson Five men accused of trading on inside tips about IBM's $US1.2 billion purchase of SPSS Inc. will have all charges against them dropped after a sweeping appeals court ruling made such cases more difficult to prove.


Lessons McDonald's can learn from Chipotle

The final touches are added to a Burrito Bowl at a Chipotle restaurant.

Venessa Wong One of the fast food outlets credited with poaching McDonalds customers can offer the burger giant some key lessons.


Yahoo may become a takeover target

Yahoo chief executive Marissa Mayer.

Michael J. de la Merced Free of Alibaba at last, the real Yahoo can now stand up.


Facebook sales beat forecasts, but expenses increase even faster

Facey B

Vindu Goel When Mark Zuckerberg warned investors three months ago that Facebook's expenses were going to rise sharply, he really meant it.


McDonald's global chief Don Thompson to step down

McDonald's logo

McDonald's, the world’s largest restaurant chain, will replace chief executive officer Don Thompson with one of his top lieutenants following the company’s worst US sales slump in more than a decade.


Three myths about Greece's mammoth debt mountain

Greece will actually receive back the interest it pays to the ECB should it continue to meet its bail-out conditions.

Mehreen Khan €317bn. Over 175pc of national output. That's the enormous debt mountain that faces the new Greek government. It is the issue over which the country is set to clash with other countries in the eurozone.

Greece rewrites rules for international game of finance

Marcus Padley dinkus Dinkus

MARCUS PADLEY You can read about the complexities of the Greek election everywhere but let me make it simple for you with a brief analogy.


US rates: What will the Fed say?

US Federal Reserve chair Janet Yellen.

Christopher Condon Here’s what to look for when the US Federal Open Market Committee releases its policy statement in Washington.


Apple's posts record profit on booming iPhone sales


Tim Higgins It was a merry holiday season for Apple Inc.


US consumer confidence hits seven-year high

Consumer confidence jumped to a near 7-1/2 high in January and new home sales in December hit their highest level since June 2008

US consumer confidence surged in January to its highest level in more than seven years, the Conference Board says.


US scrambling to hire enough cyber security agents to protect itself

A Hollywood billboard for Sony Pictures’ <i>The Interview</i>. The film caused an unprecedented cyber conflict.

Matthew Hall With repercussions from the Sony hack continuing to echo around the world, the United States government has warned of a lack of hands-on talent to battle online crime.

Comments 1


The six personality traits of high-achieving women in the workplace

'Stress tolerance' is one of the key personality traits of high-performing women, according to a recent study.

Josephine Fairley None of us wants a leader who runs around like a headless chicken.

Comments 2


IMF vows to continue Greece support after vote

The International Monetary Fund says it is prepared to continue its financial support of Greece, a day after an election swept in the leftist, anti-austerity party Syriza.


Euro hits 11-year low in wake of Greek election

Supporters of opposition leader and head of radical leftist Syriza party Alexis Tsipras cheer at his campaign headquarters in Athens.

The euro hit an 11-year low versus the US dollar on Monday as Greece's anti-austerity Syriza party swept to victory in a snap election.


Greek elections send anti-austerity message to Europe

Greece appeared to reject the punishing economics of austerity and sent a warning signal to the rest of Europe as the left-wing Syriza party won a decisive victory in national elections, positioning its tough-talking leader, Alexis Tsipras, to become the next prime minister.


Japan's exports grow most in year

Japanese Prime Minister Shinzo Abe.

Japan's exports grew the most in a year in December, helped by a weak yen and pickup in overseas demand led by the United States, an encouraging sign for the recession-hit economy even as doubts persist about the strength of global consumption.


Insider trading accused Trent Martin's guilt plea reversed

Sydney stockbroker Trent Martin  was accused of sharing a tip about a pending takeover bid with his roommate.

The New York insider trading case against Australian research analyst Trent Martin and four co-accused is on the verge of collapse after a judge vacated the defendants' guilty pleas.


Explainer: Do the Greek elections spell a Grexit?

In his victory speech, Alexis Tsipras set the stage for a showdown, declaring

LISA VISENTIN As Greece and Germany go to the trenches in the coming weeks, here are the most likely scenarios to come from their negotiations.


Mario Draghi pushing €1.1t ECB bond-buying plan to boost Europe

The ECB president and his Executive Board proposed spending €50 billion a month through December 2016, two euro-area central-bank officials said.

Mario Draghi called on the European Central Bank to make its biggest push yet to fend off deflation and revive the economy by unleashing a debt-buying spree of €1.1 trillion.


Cheaper petrol brings deflation to NZ

The consumers price index fell 0.2 per cent in the three months ended December 31 with a 5.7 per cent drop in petrol prices paramount to the drop.

New Zealand consumer prices fell in the final three months of 2014 as plunging oil prices prompted cheaper deals at the petrol pump and led to the first quarter of deflation since December 2012.

IMF makes steepest cut to global growth forecast in three years

IMF chief economist Olivier Blanchard:

Andrew Mayeda The plunge in oil prices added has added a 'new risk dimension' to the world, the International Monetary Fund said.


IMF global outlook more pessimistic

IMF chief economist Olivier Blanchard.

PETER MARTIN The International Monetary Fund has revised down its forecasts for global economic growth, saying although the lower oil price will give much of the world a boost, it won't be enough to offset deteriorating outlooks.

Roger Federer's fortune takes a hit with Swiss franc move

 “Clearly it had an impact on me, too, no doubt about it. Things were going up all the time, so it’s normal to have it reset.”: Roger Federer was not immune to last week's decision by the Swiss National Bank.

Last week’s decision by the Swiss National Bank (SNBN) to scrap its currency cap with the euro not only roiled global markets, it’s also being felt in the pockets of Roger Federer.

Ambrose Evans-Pritchard

Why Switzerland threw in the towel

Ambrose Evans-Pritchard The Swiss National Bank has lost control. It is the latest in a list of venerable central banks to be overwhelmed by deflationary forces and global economic disorder.


IMF's Christine Lagarde says oil price slump won't brighten gloomy global economic outlook

A sharp drop in oil prices and a stronger US economy will probably not be enough to brighten the outlook for global economic growth this year, the head of the International Monetary Fund said.

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