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Australia business conditions tough, confidence off

SYDNEY: Australian business conditions stayed tough in April as sales and profits weakened, while confidence among firms fell to its lowest level since September 2001, a private survey showed on Monday.

The National Australia Bank's (NAB) monthly survey's measure of overall business conditions held at 7 points in April, equalling the lowest reading since December 2002 and a long way from last October's peak of 20.

NAB's measure of business confidence dropped a further 4 points to -8 index points in April. There were steep falls in retail, transportation and personal & recreational services, which swamped a still strong mining sector.

Measures of sales, profit growth and forward orders dropped sharply, though the sub-index of employment jumped amid a still-tight labour market, which was also pushing wages higher. more

People & Places -Chinese culture shock

You could therefore buy a car but you would have to compete to "win" a licence for that car, since the number of licenses was capped.

Needless to say, the penalties for driving without a licence are harsh and the auction process made car ownership a luxury that only the more privileged could consider. The authorities argued that their traffic problems were entirely abnormal. In the short term, Beijing proposes to alternate "odd" and "even" licence plates to ensure that traffic congestion during the Olympics is kept to a minimum.

Generally, the provinces were also pursuing alternative solutions such as an expansion of the underground and public bus networks, which all appeared to be quite efficient. We also experienced the high-speed experimental rail link that shuttles passengers from Shanghai airport to the City Centre in minutes. more

Business hub proposed

Goff sees a 66-city block land mass called Energy Park One that would serve as a hub for a national network of professionals and businesses.

That hub also would be a marketplace for renewable energy as well as research and development commerce.

Big ideas can sometimes take bigger funding solutions and Goff has asked the City Council to use a "metro district" taxation plan to help pay for some of the development.

Council gave an initial thumbs-up to the proposal last week at a study session to allow for special taxation districts, on a case-by-case basis, for commercial and some mixed-use developments within city limits. That was welcome news for Goff.

"It's the developer's tool of choice because he can get municipal bonding instead of paying for it out of his pocket," Goff said. more

More cautions on Cablevision's purchase of Newsday

Once again, there are some strong voices of concern in Long Island Business News about the purchase of Newsday for $650 million by Cablevision.

In an unsigned editorial on "Cablevision's growing empire," the Business News' policymakers say the "acquisition of Newsday means that the cable operator so many Islanders love to hate now holds more power over us than ever before." The editorial says "Cablevision is now the chief gatherer and disseminator of general interest news on Long Island. That is a huge responsibility and it's landing in the lap of arguably the most clandestine company in our region." It goes on to criticize Cablevision for not making its executives available for interviews after the deal was announced (Newsday didn't get any access either).

The Business News editorial ends by saying: "Newsday belongs to Long Island. more

"Crew Pass" developed to help boost local business in PA.

This pass was designed for the purpose of giving members of the cast and crew a discount for local shops and businesses in the greater Philadelphia area during the filming of the movie. The pass is to be good during pre-production all the way until final wrap is called. This is great news for local businesses who will have more success in boosting revenue with the introduction of the "Crew Pass'. To learn more about this offer, click here.

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Background Note: The Netherlands - Scoop

Area: 41,526 sq. km. (16,485 sq. mi.). Cities: Capital --Amsterdam (pop. 761,262). Other cities --The Hague, seat of government (482,742); Rotterdam (582,949); Utrecht (299,484). Terrain: Coastal lowland. Climate: Northern maritime. Population: 16.4 ...

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