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Edition 121 - 7.10.08
Reports that the Commonwealth Bank is in talks to buy BankWest, the Australian arm of HBOS. "Whilst discussions are continuing, the parties have not reached agreement," CBA said in a statement today.
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In related news, it seems increasingly inevitable that many of Australia's regional banks may be owned by one of the Big Four.
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Harvey Norman Holdings Ltd says sales in the two months since the end of its 2007/08 financial year have increased by 6.9 per cent against the previous corresponding period.
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The Australian dollar has today opened almost 3 cents weaker at close to US70 cents for the first time since September 2004.
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Edition 120 - 30.9.08
The Australian sharemarket was down more than five per cent shortly after opening after the US rejected a $US700b financial rescue package - triggering the biggest points fall in Wall Street history. When the market opened, banks were hard hit, with the ANZ down 5 per cent and the Commonwealth Bank down 5.1. Treasurer Wayne Swan has warned that the crisis could mean new pressures on interest rates.
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A day after it emerged that the global Krispy Kreme group was trying to turn around ts flagging sales by entering the soft-serve ice cream market, an investor in Krispy Kreme Australia (KKA) has written the value of its 24% stake down to zero.
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Queensland's NightOwl convenience store franchise is making a push into Victoria (the home-base of 7-Eleven). The 49-store NightOwl franchise has opened its first store in Mornington, south of Melbourne and says it is now looking for further opportunities in Melbourne's CBD and Victorian regional centres.
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Coles owner Wesfarmers Ltd has appointed a former McDonalds executive to head up its general merchandise retailing business Kmart.
Guy Russo, the former head of McDonalds' operations in China and Australia, will lead the revitalisation of KMart, Wesfarmers managing director Richard Goyder said.
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Edition 119 - 23.9.08
Random audits for hundreds of small retail outlets
Workplace inspectors will randomly audit hundreds of retail outlets in major Victorian shopping centres.
The federal Workplace Ombudsman will send in a team of six inspectors to ensure employers are complying with their time and wages records and pay slip obligations.
The campaign aims to educate employers about their obligations under federal workplace relations laws.
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Yogen Früz, a frozen yogurt chain with 1,100 stores in over 20 countries, announced today that it has entered into a newly signed development agreement with Orbiz Corporation Pty Ltd. that will expand the franchise by 30 locations into Australia over the span of the agreement, beginning with a December store opening in Brisbane and 6 more projected openings for the next 6-12 months.
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Telstra will slash 800 jobs as new systems reduce the need for support workers for frontline staff dealing with customers.
Australia's biggest telco plans to keep staff who face customers but axe roles in senior management, middle management and professional services, mainly in Sydney, Melbourne and Brisbane.
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American Franchise, College Hunks Hauling Junk, has found a win-win scenario in this down economy … they are helping homeowners and businesses across the country get rid of their unwanted “clutter,” and are providing some “eye candy” as they do it.
They even have a video on their website …just in case you're intersted in seeing a demonstration of their 'talents' ...
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Earlier editions
Television personality and Just Cuts spokesman, Grant Denyer, is expected to be out of action for the next few months after crushing vertebrae in his back in a monster truck accident.
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Vodafone Australia says it has reached agreement with Crazy John's widow, Patricia Ilhan, to acquire her stake in the mobile company. The sales figure is believed to value the company between $150 and $200 million.
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Slump? What slump? Despite the apparent slump in consumer confidence, Australian shoppers are expected to spend more than $100 billion on their credit cards over the next six months.
MasterCard Worldwide Index of Retail forecasts retail forecast consumer spending to grow 4.5 per cent this calendar year compared with 2007.
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2008 Australian Business Awards
Congratulations to ecowash Mobile for picking up awards for Environmental Sustainability; Service Excellence; Enterprise; and International Trade at the 2008 Australian Business Awards. Congratulations also go to franchise Xpresso Delight for their Enterprise Award.
The Awards recognise organisations that demonstrate the core values of business excellence, product excellence, sustainability and commercial success in their respective industries.
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KFC's original secret blend (handwritten by the colonel himself, on a now-yellowed piece of paper) was recently moved temporarily to an undisclosed location to make way for security improvements.
It may surprise you to know that even after all this time, the spices continue to be mixed in two parts by two different companies, a modern touch is added with a computer processing system now used to standardize the blending of the products. All of this is in place to ensure that no single entity holds the complete recipe.
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The franchising sector is in a favourable position to ride out tough economic conditions according to PKF Partner and national chairman of corporate recovery, Michael Scales.
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US Baskin-Robbins® stores are polling America's palate with Flavor Debate '08 - a limited edition release of two new Presidential Election flavors. (Yes, really!)
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There are currently 800 companies in the running to gain the first McDonald's franchise agreement for Kosovo.
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More than 270 workers have been reimbursed almost $97,000 after random audits found they were being underpaid. One business has had to back-pay 54 staff $21,000.
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Australian franchise success in the USA
ecowash mobile predicts it will have 1000 cars on the road within two years. And preeminent US franchising guru Dan Martin has described the franchise system as "tenfold anything I've seen" in the industry.
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More details about the KETCHELL decision and what it means to you available by clicking here
Mrs Fields files for Bankruptcy
but Andrew Benefield, MD of Mrs Fields Australia has said that Mrs Fields (Famous Brands in the USA) filing for bankruptcy will not impact business here.
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Hire A Hubby maintenance and home assistance business is set for overseas expansion, with its first international franchise opening in the UK.
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Hmmmmm.... are you getting sleepy?!
A hypnosis business that advertised help for people who want to lose weight, quit smoking and reduce stress has gone out of business weeks after some questions were raised about the credentials of its hypnotists and other business practices.
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Retailer put on notice
A Melbourne video outlet which paid student workers with free rental videos ...
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Pizza ... pizza ...
Domino's Pizza Enterprises Ltd has boosted its annual profit by 29.6 per cent ...
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... and more pizza !
Australia's third biggest pizza chain, Eagle Boys Pizza, increased full year sales ...
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Crazy John's Park
A Melbourne sports ground is being renamed in memory of Crazy John's ...
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Liquorland sale possibility
New Zealand's two big grocery businesses are keeping mum ...
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Don't call us, we'll call you!
The Do Not Call Register may be extended to include all business numbers ...
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