What you don’t know about Gerry Harvey and his stores
Gerry Harvey and his wife and company CEO Katie Page have built up a unique retail operating model at Harvey Norman. This is what sets them apart from their competitors.
Terry McCrann
Aussies lose billions as VIP gamblers stay in China
Even without the Chinese VIPs, Crown still managed to claw in an average of more than $4m a day, every day of the year, such was the determination of Aussie punters to lose their money.
No end to Wall Street’s free money party
What happens to Australian shares is totally dependent on what happens on Wall St and what happens over there is totally dependent on what the Fed does.
Qantas and Woolies: the two faces of Covid
The impact of lockdowns and Covid-19 restrictions played out in the vastly different full-year financial results unveiled by Woolworths and Qantas.
Why Stokes is not really leaving Seven
The guy who created, built and controls the major shareholding in Seven Group will still “be in the room” when the big decisions are made, despite stepping down as chairman.
S&P’s clueless BHP ratings threat
Global ratings agency S&P’s threat to ‘double-downgrade’ mining giant BHP is utterly clueless.
ASIC needs to act on BHP’s misleading statement
The ASX took no action after BHP made a grossly misleading statement last week about its oil and gas merger with Woodside – so the corporate regulator must now pull them into line.
Premiers wrench control of economy off Frydenberg
Chairman Dan had joined with Premier Gladys to lock the entire country into recession and their two states into serious recession.
Crazy jobless data hides recession reality
The latest ABS jobs figures are way off. The reality is we are smack in the middle of our second wave recession and two premiers control how long and how bad it will be.
Will ASX do its job after BHP’s disclosure fail?
BHP was grossly misleading when it announced to the market on Monday that it was only evaluating its options but then the following day unveiled a $40bn oil and gas merger with Woodside.
RBA can’t save us from the political deal
The chattering elites are calling on the RBA to “do something” as more than half the population remains in lockdown but what we need from the central bank now is policy stability.
BHP bets it all on iron ore and China
Mining giant BHP is staking its future on China – essentially putting all its eggs in a very fragile basket.
Welcome to the second wave recession
Will we ever get out of the lockdown economic destruction morass, even when we are “fully” vaccinated?
Profit bonanza as good as it gets for banks
This year’s strong bank profits are all about ‘free money’ from the RBA but could this be as good as it gets?
CBA rides RBA’s ‘free money’ to $9bn profit
It’s hard to think of a better banking franchise than the Commonwealth Bank anywhere else in the world – and, boy, did it exploit its strength over the past financial year.
Why the NBN must be kept publicly owned
The NBN has emerged over the past year as unambiguously and undeniably our greatest asset, so it would be an act of extraordinary national vandalism to now sell it.
Transurban’s tentacles are around 14m Aussie wallets
Transurban is the downunder version of a Giant Vampire Squid, wrapping its tentacles around the wallets of the 14m citizens of Melbourne, Sydney and Brisbane.
The timebomb ticking under lockdowns
You are at the mercy of the greediest and the most hysterical people on the planet.
Strap in, it’s a bumpy ride ahead as Victoria goes into lockdown
Australia’s economic outlook has suddenly and significantly changed for the worse as Victoria joins parts of NSW and Queensland in lockdown.
Holgate and Coonan and chairs behaving badly
The chairs of Crown Resorts and Australia Post have both behaved badly. One could be gone by the end of the month and the other should have resigned 11 months ago.
RBA holds its course but watching the virus and vaccinations
RBA governor Philip Lowe expects the economy to go negative this quarter and pick up in the next but he doesn’t have a crystal ball when it comes to the virus, vaccinations or premiers.
Why timing’s right for $39bn Afterpay play
The $39bn takeover bid comes at precisely the right time for Afterpay which needs to upgrade its competitive profile as banks and big tech players start flooding into its market.
Queensland proves lockdown roadmap will come at a cost
The Victorian experience has won. Australia’s new reality is brutal — and it’s now official policy right across the country.
China holds mining giants and Australia hostage
Australia’s prosperity is now totally dependent on China, the major buyer and price setter for the almost one billion tonnes of iron ore we shipped north over the past year.
Covid outbreak, inflation won’t alter RBA rate decision
The RBA will keep rates on hold at its board meeting next week despite the impact of the NSW extended lockdown on the national economy and the latest inflation figures.
Treasury stuffs up, so why trust it now?
The only thing that can be said with absolute certainty about the federal budget is that every figure in it will be wrong. So why should we trust the numbers?
Eyes on poll day as cash splash keeps us in happy daze
In simple terms $104bn has dropped miraculously from a bright blue fiscal sky into Treasurer Josh Frydenberg’s lap – and he’s promptly gone out and spent $96bn of it.
‘Happy days are here again’ budget is back
Treasurer Josh Frydenberg is set to give Australia its first “happy days are here again” budget since the glory days of the Peter Costello tax-cutting budgets of the early 2000s.
Packer gets his billion dollar payday
James Packer has finally got what anyone who’s ever been to a Saturday property auction knows what any seller desperately wants.
Frydenberg goes for broke on home ownership
It is clearly going to be an election budget, whether or not we actually get the election this year.
Big bank deliver very similar profits
Westpac, NAB and ANZ were like three peas in a very profitable pod this week but in real terms one of them was clearly the worst performer.
ANZ beats and also exposes Westpac
ANZ doubled its profit but in real terms it actually did a little better than Westpac which earlier this week reported that first half cash profit had trebled.
Will the RBA have to hike earlier than expected?
The Reserve Bank was behind the curve in understanding the strength and speed of the economic recovery, raising concerns about the timing of the next interest rate hike.
Westpac’s profit really fell 15 per cent
Westpac’s profit is a total statistical and operational mirage. The banking giant’s profit should have been seen as something of a disappointment by the market.
Why homes should be part of super savings
It is unarguable that the first best investment most people can make in their lives is the family home.
Josh picks the two best money cops
Two tough, highly experienced enforcement lawyers have been picked to lead ASIC, which is exactly what Australia’s corporate cop needs.
Fantastic news for Aussies on inflation and trade
The latest round of economic data should be hailed as fantastic good news. What’s not to like about inflation ticking over at barely 1 per cent a year and a trade surplus of $100bn a year?
Tabcorp subcontracts future to opportunists
Tabcorp is a company whose board and management has seemingly lost all sense of strategic direction and has essentially ‘sub-contracted out’ its future to others.
The far left’s big fuel subsidy lie
The Australia Institute claims fossil fuel subsidies added up to $10.3bn in the 2020-21 financial year. The claim and that figure are simply completely false.
Super increase to complicate the recovery
On the current post-pandemic path, employees could see both higher wages and higher retirement savings contributions through to 2025.
PM goes for broke, three idiocies in one statement
The PM has just ‘done 26,950 Cartíer watches’ in one day wasting taxpayer funds on his new climate change initiatives announced this week.
China plays us on a carbon fiddle
China is by far the world’s biggest emitter of carbon dioxide and the truth is it has zero commitment to “carbon reduction”.
Packer the key to new Crown play
James Packer has two bidders chasing what he’s got to sell but it remains to be seen whether they will put any real cash and real offers on the table.
Read the PM’s lips, they damn the AusPost chairman
The Australia Post chairman must resign or be sacked and to understand why you have to look at what transpired on that fateful day October 22.
Don’t bet against the economy just yet
Two huge injections of free money will keep the property market rolling along.
Jobs on a roll, are higher wages next?
The April figures will tell us the real state of Australia’s jobs market but both the statistical and the anecdotal evidence suggests there will be only a slight bump up in the jobless numbers.
Banks compete for SME business in $40bn Covid loan scheme
The banks are onto a winner with the $40bn Business Recovery Loan Scheme and it could also be a smart move for an SME that can repackage or increase its debt.
AusPost chairman’s testimony hard to believe
AusPost chairman Lucio Di Bartolomeo comes across as a really nice guy but someone who has been totally out of his depth since the Cartier watch scandal erupted in October.
Chairman leaves AusPost leaderless
AusPost’s chairman will have allowed the organisation to wallow leaderless for almost 11 months by the time the new CEO starts.
Brace for the bill after the great ‘free lunch’
The reason why Pandemic-2020 didn’t turn out quite the way as feared in economic and financial terms is simple.
Original URL: https://www.dailytelegraph.com.au/business/terry-mccrann/page/12