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Microsoft slash thousands of jobs amid transformation

Microsoft slash thousands of jobs amid transformation

The logo of Microsoft is pictured in Issy-les-Moulineaux, France, August 8, 2016. REUTERS/Jacky Naegelen/File Photo (Copyright Reuters 2016) U.S. tech giant Microsoft (MSFT) announced Thursday it will lay off thousands of workers amid a massive global reorganization of its workforce. “Microsoft is implementing changes to better serve our customers and partners. Today, we are taking […]

Second setback for Coca-Cola as Dominos choose Pepsi

Second setback for Coca-Cola as Dominos choose Pepsi

Coca-Cola Amatil has suffered another setback after losing a contract to major rival Pepsi/Schweppes to stock soft drinks and bottled water at hundreds of fast-food shops across the nation. The decision by pizza giant Domino’s to switch drinks suppliers is the second recent blow for Coca-Cola Amatil, after Woolworths refused to stock its latest product, Coca-Cola No […]

Virgin Australia takes off for Hong Kong

Virgin Australia takes off for Hong Kong

Sir Richard Branson, Virgin Australia chief executive John Borghetti and other special guests celebrating the airline’s inaugural Melbourne-Hong Kong flight. (Virgin Australia) Virgin Australia flight VA87 has taken off from Melbourne bound for Hong Kong, marking the start of what chief executive John Borghetti describes as the airline’s Asian expansion. The flight, operated by Airbus […]

The Electric Car Revolution Is Here

The Electric Car Revolution Is Here

 Electric cars will be as cheap as gasoline models by 2025  Battery manufacturing capacity will triple in the next four years Electric cars will outsell fossil-fuel powered vehicles within two decades as battery prices plunge, turning the global auto industry upside down and signaling economic turmoil for oil-exporting countries. The Bloomberg New Energy Finance forecast says adoption […]

Domino’s cutting costs and their pizza size

Domino’s cutting costs and their pizza size

THE nation’s largest pizza chain, Domino’s, are cutting costs and their pizza size Deutsche Bank analyst Michael Simotas said he understands the company will shortly begin a trial of smaller pizzas as part of a strategy to cut food costs in an attempt to reduce cost pressure stemming from recent changes that increased penalty rates […]

Housing bubble fears are overblown

Housing bubble fears are overblown

Soaring home prices in Australia’s biggest cities are driven by strong demand and a lack of supply, rather than indicating a “bubble,” according to HSBC’s local chief cconomist Paul Bloxham. “At a national level, a key reason for rising housing prices has been housing under-supply,” Bloxham writes. “This also suggests that a significant fall in prices, as occurred in […]

ASX shudders as Korean tensions rise

ASX shudders as Korean tensions rise

Sabre-rattling over North Korea’s missile program sent investors seeking out safe haven assets such as gold and the Japanese yen on Wednesday, but strong performances in the mining sector helped keep the ASX’s losses small. The benchmark S&P/ASX200 opened in the black but lost ground in choppy trade to finish down 0.3 per cent, at 5763.3 points. […]

Goldman Sachs says bitcoin could rise another 50%

Goldman Sachs says bitcoin could rise another 50%

Goldman Sachs says bitcoin could rise another 50% Goldman Sachs’ Sheba Jafari included a note on bitcoin in a report on charts for the week ahead. Jafari said bitcoin could rise in a fifth “wave” of gains. Bitcoin traded near $2,567, 15 percent below its record high hit on June 11. Goldman Sachs says bitcoin […]

Retail investors keep faith in Bellamy’s and back $60 million capital raising

Retail investors keep faith in Bellamy’s and back $60 million capital raising

Bellamy’s said on Tuesday that 79 per cent of the allocation went to retail investors which equated to $37.9 million, underwriters picked up the remaining 21 per cent which equated to $7.8 million. Dairy company Bellamy’s is six months into an 18-month turnaround strategy. Photo: Kate Geraghty The shares were offered to retail investors, at a price […]