Gerry Harvey News
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Keith Darley, a 34-year-old electrician, hears from the government that Australia is the envy of the developed world. Yet the father of two, who employed 22 people a year ago, now works alone and says he’ll be voting against Prime Minister Julia Gillard in the Sept. 14 election.
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Australian retail outlets are improving operations and profitability in response to the challenge from online shopping rivals, said Steven Sewell, chief executive officer of shopping mall operator Federation Centres.
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Harvey Norman Holdings Ltd., Australia’s largest electrical-goods retailer, said nine-month earnings dropped 25 percent as a consumer slowdown curbs sales and discounting crimps profitability.
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Harvey Norman Holdings Ltd. , Australia’s largest furniture and electrical retailer, had a 37 percent drop in profit after the effects of a government stimulus package waned, curbing demand for household goods.
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The Australian government will resist pressure from retailers to act more quickly in tackling the threat to businesses from goods sold by offshore websites, Assistant Treasurer Bill Shorten said.
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The Australian government won’t be “stampeded’ by retailers over the threat to businesses from goods sold by offshore websites, Assistant Treasurer Bill Shorten said.
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The following are the day's top business stories:
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Australia is starting to shake off its doldrums.
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Gartmore Group Ltd. said fund manager Guillaume Rambourg will return to work after he was suspended last month amid an internal probe. The firm’s compliance chief left.
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Australia’s wine lovers are embracing European bottles as never before, exacerbating a decline in the local industry already suffering from plummeting exports.
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