Edmund Tadros - Journalist

Jan 01 2010 ∞

ACCC wins case against online retailer Ozdirect

THE competition watchdog has won its case against online retailer Ozdirect Online Brands and its director Paul Albright for misleading and deceptive conduct but the parties will have to wait until 2010 for the judge’s final orders.

Despite this win, customers who have lost money buying from the Ozdirect site will still have to take private action against the company if they are owed money, the Australian Competition and Consumer Commission said.

Read more about Ozdirect at news.com.au.

Dec 11 2009 ∞

Surprise jump in Australian jobs market

THE jobless rate has fallen to 5.7 per cent with the number of employed people increasing by an unexpected 31,200 in November, figures from the Australian Bureau of Statistics show.

Read more about the unemployment rate at news.com.au.

This story also features an interactive chart comparing Australia’s unemployment rate to other developed nations.

Dec 01 2009 ∞

Last chance for offshore tax dodgers

THE tax office has doubled the penalties for tax cheats who admit to hiding money in offshore tax havens.

It has also offered tax dodgers the opportunity to anonymously check if they are liable for criminal prosecution, in addition to a fine, before they come forward.

Tax Commissioner Michael D’Ascenzo described it as “one last chance to come in and do the right thing”.

“This new offer provides a good opportunity for people who want to do the right thing to get their tax affairs in order,” he said.

Read more about offshore tax havens at news.com.au.

Nov 11 2009 ∞

Australian Tax Office seeking details of secret UBS bank accounts

THE tax office is using a landmark US case to crack open details of secret Swiss bank accounts held by wealthy Australians as it continues to target off-shore havens.

The Australian Tax Office has requested account-holder details from Zurich-based UBS, after the Swiss bank handed over about 4450 client names to US authorities in August to settle a tax case.

Economist Steve Keen loses housing bet against Rory Robertson

AN ECONOMIST known as the “Merchant of Gloom” will have to walk from Canberra to the top of Australia’s highest mountain after losing a bet about the resiliency of Australian house prices.

Read more about Steve Keen at the news.com.au.

+ ∞

Reserve Bank hikes its interest rate

THE Reserve Bank board has increased its official interest rate from 3.25 per cent to 3.5 per cent.

It is the fourth time in a row the bank has altered rates on Melbourne Cup day.

Less than 15 minutes later, ANZ announced it had also raised its standard variable home loan rate by 0.25 per cent.

And by late afternoon Commonwealth Bank, NAB and Westpac had all increased their standard variable home loan rate by the same amount.

Read more about interest rates at news.com.au.

Oct 28 2009 ∞

Qantas passengers exposed to toxic air, alleges book

QANTAS allowed a Boeing B747 plane to continue operating for nine months even though it was leaking oil, an unauthorised history of the airline claims.

During this time, a flight engineer was overcome by toxic fumes believed to have been caused by the oil leak.

Oct 27 2009 ∞

No Telstra tip-off for Future Fund - report

THE Future Fund has no record of any correspondence alerting it to the Federal Government’s plan to split Telstra, a Freedom of Information search has revealed.

Read more about the Future Fund at news.com.au.

Oct 23 2009 ∞

ANZ’s new brand to rebuild customer trust, says marketing expert

DESPITE a thumbs down from news.com.au readers, a marketing expert has defended a bank’s expensive logo change as an attempt to ”humanise” its image.

Almost half of news.com.au readers gave ANZ’s new “blue blob” logo the thumbs down in an on-line poll and in comments.

“Consumers have had their faith in financial institutions shaken, they are no longer seen as safe,” Melbourne Business School marketing expert Jody Evans said.

Read more about ANZ’s new brand at news.com.au.

Oct 22 2009 ∞

Kidnapped child found after AUSTRAC follows global money trail

A KIDNAPPED child was reunited with her mother after Australian authorities tracked her down by tracing an international money trail.

The money trail, tracked by Australia’s anti-money laundering body, passed through Australia, the United Kingdom, Greece, Indonesia before ending in Thailand.

Read more about how a money trail was used to find a kidnapped child at news.com.au.