Today's News & Views

Richard Wachman and Tim Webb

Bank collapses put nationalisation back on British agenda

10:30pm The public-to-private revolution may be over, write Richard Wachman and Tim Webb.

Bank shareholders to suffer dividend pain

DANNY JOHN SHAREHOLDERS in the Big Four banks face slashed dividends after the round of capital raisings that funded the banks' expansion plans and shored up their debt-stressed balance sheets.

Out the door, but why did Morris walk?

The resignation of a top executive has turned the spotlight on Westpac, writes Eric Johnston.

Ross Gittins

It's guaranteed this recession will be different - but how?

ROSS GITTINS All recessions bear a family resemblance, but this one is different in some important respects. With luck these differences will mean we're let off a bit lighter.

GM gets fallback option as Chinese car maker bids for Opel

CHRIS REITER AND STEVE ROTHWELL CHINA'S Beijing Automotive Industry Holding Co has made an offer for General Motors' Opel division, giving the bankrupt US car maker more options if negotiations with Magna International fail.

Slimmer Cochlear implant gets nod

ELI GREENBLAT THE bionic ear implant company Cochlear is expected to introduce its new "super thin" next-generation device this month after a positive response at a key British implant conference.

Secretive FIRB leaves everyone in the dark

ARI SHARP THE Foreign Investment Review Board is reinforcing its reputation as one of Canberra's most secretive bodies. More than a year after the 2007-08 year there is no sign of its annual report.

John Garnaut

How Beijing kicked an own goal on aluminium

JOHN GARNAUT If "China Inc" were a person it would probably be Xiao Yaqing, the former president of Chinalco who is also an alternate member of the Communist Party's Central Committee.

Higher fees mean lower returns

STUART WASHINGTON THE results are in: the more you pay fund managers, the less you get in returns.

Insurers to profit as premium rises stick

DANNY JOHN HOME and car insurance premiums have risen strongly in the first six months of this year and commercial cover is beginning to emerge from the doldrums of low prices.

CBD

A director leaves the crease

CBD Michael Evans hopes there's still a chance of getting a postcard.

Shoppers keen to look good, even on a budget

ELI GREENBLAT WOMEN are still finding room in their budgets for an Elizabeth Arden lip plumper or a Guerlain's KissKiss maxi shine - and men are following suit.

Lend Lease predicts recovery

THE property developer Lend Lease believes Australian house prices will recover but does not expect big rises despite a housing shortage.

Roy Masters

Trying times ahead in the TV rights war

ROY MASTERS When sports bosses announce a new TV rights deal, they usually trumpet it as a rich reward for a highly appealing product, rarely mentioning downsides, such as increased content or contra bloating the numbers.

Paddy Manning

Ethical investing a difficult option for funds to sustain

PADDY MANNING A decade ago a fresh wave of interest in sustainable investing broke out in Australia - and elsewhere - but things have not turned out quite as expected.

Big Four raisings weaken returns

DANNY JOHN The earning power of shares of the Big Four banks will fall sharply this year because of a sector-wide round of capital raisings aimed at supporting expansion plans and shoring up their debt-stressed balance sheets.

Eric Johnston

Resignation raises Westpac doubts

ERIC JOHNSTON A sudden late-night resignation of a top executive at a major bank is always bound to stir up interest.

FIRB clings to its secret ways

ARI SHARP, CANBERRA The Foreign Investment Review Board is reinforcing its reputation as one of Canberra's most secretive bodies, with no sign of its 2007-08 annual report more than a year after the end of the financial year.

Super-thin hearing aid gets good reception from Cochlear investors

ELI GREENBLAT Bioinc-ear implant company Cochlear is expected to roll out its new "super thin" next-generation device this month after a positive response from stakeholders at a key British implant conference.

PWC feels heat over Indian audit

NICK MATHIASON, LONDON Accountancy giant PricewaterhouseCoopers is facing deepening scrutiny over its audit of Satyam -- the IT giant known as "India's Enron" -- whose founder admitted fabricating cash and other non-existent assets of more than A$2.05 billion.

Beijing Auto bids $1.16bn for Opel: GM

CHRIS REITER AND STEVE ROTHWELL, BERLIN China's Beijing Automotive Industry Holding has submitted a 660 million euros ($A1.16 billion) offer for the troubled Opel division of General Motors, giving the bankrupt car maker another option should its negotiations with Canada's Magna International fail.

Buffett guest reaps $US14m profit

DAVID BARBOZA, SHANGHAI A Chinese businessman named Zhao Danyang paid a record $US2.1 million ($A2.6 million) in a charity auction on eBay last year to win a lunch date with one of his heroes -- Warren Buffett, the so-called Oracle of Omaha.

Expert fund management not worth the effort

STUART WASHINGTON The results are in: the more you pay fund managers, the less you get in returns.

In a pouting economy, lipstick booms

ELI GREENBLAT When recessions hit, some reach for beer, others gamble, but women buy more lipstick.

John Garnaut

China's metals ploy was quick to rust

JOHN GARNAUT, BEIJING If "China Inc" was a person then it would probably be Xiao Yaqing, the former president of Chinalco who is also an alternate member of the Communist Party's Central Committee.