Retail sales struggle, building approvals continue downward trend and other top stories.

• Retail sales struggle, building approvals continue downward trend

  

  Retail sales struggle, building approvals continue downward trend Posted April 04, 2016 12:53:53 Two of the economy's key growth engines are sputtering, with retail sales flat and building approvals continuing a trend decline in February.Bureau of Statistics data show retail sales were unchanged in February on a seasonally adjusted basis.The demand for goods showed an increasingly familiar divergence between to two big south-eastern states, New South Wales and Victori..

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• Whyalla pay negotiations '50-50 bet'

  

  Whyalla pay negotiations '50-50 bet'The future of South Australia's Whyalla steelworks hangs in the balance after Arrium's lenders rejected a bailout deal.Arrium, which is struggling with growing debt and low iron ore prices, says it has been unable to secure a recapitalisation plan involving GSO Capital Partners.The steelmaker entered a trading halt on Monday and is expected to update the market on its talks with lenders in coming days.Arrium has warned it may mothball the Whyalla operations, c..

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• Woolworths woes spark talk of full-blown supermarket price war with Coles, Aldi

  

  Video will begin in 5 seconds. Wesfarmers boss respects Aldi as Coles rival Wesfarmers CEO Richard Goyder takes Aldi seriously, though insists the self-service checkouts that the German chain has rejected will remain in Coles. PT0M46S 620 349 The battle for market share in the $90 billion grocery sector could turn into a full-blown price war next year if Woolworths' attempts to restore sales growth in supermarkets fail to gain traction, UBS says.All four major grocery retailer..

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• Optus to cut hundreds of jobs in search for 'sustainable growth'

  

  Workers at Optus' campus at Macquarie Park in Sydney. Photo: Brendan Esposito Optus will cut up to 480 jobs as part of a restructure of its consumer and enterprise divisions in an attempt cut costs for "sustainable growth".The telecommunications company announced on Monday that changes to its Business, Wholesale and Satellite divisions will result in a number of jobs no longer being available."These changes require Optus to reshape its workforce with the skil..

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• Quickflix cuts staff to conserve cash

  

  Quickflix cuts staff to conserve cashQuickflix plans to cut staff, reduce directors' pay and close offices in Sydney and Auckland in an effort to turn around the troubled streaming service.The company says the new measures - which include reducing office costs in Sydney and Perth, taking customer support in-house and reducing its workforce by 15 per cent - will save more than $1 million a year.Quickflix's service has been severely affected by last year's entry of US giant Netflix into the Austra..

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• Giant Queensland coal mine will carry hidden cost, US investor predicts

  

  Video will begin in 5 seconds. Adani mine an 'amazing opportunity' The Queensland government approves a $20 billion coal mine in the Galilee basin but green groups say the Great Barrier Reef will suffer. 7 News Queensland PT1M42S 620 349 The approval of a giant new coal mine for Queensland is likely to deliver only short-term economic benefits and may carry a hidden cost if its demise triggers a bailout for miners needing new jobs, a leading US investor says.The Palaszczuk Lab..

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• Banks to act on family violence

  

  Australian Bankers' Association chair and National Australia Bank chief executive Andrew Thorburn with Domestic Violence chief executive Fiona McCormack. Wayne Taylor  Victims of family violence will have improved access to finances in an emergency and bank staff will be educated to deal with them in a move by the Australian Bankers' Association chairman and chief executive of National Australia Bank Andrew Thorburn.The report by Royal Commissi..

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• ATO investigates 800 linked to Panama papers

  

  ATO investigates 800 linked to Panama papers

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• ASX rebound runs out of energy

  

  Energy stocks were among the week's top performers after the oil price jumped above $US40 a barrel. Photo: Glenn Hunt An early rally on the Australian sharemarket on Monday ran out of steam during the afternoon, as steep losses in energy stocks and some miners offset gains in most other sectors.The market got off to a good start, following strong leads from Wall Street on Friday night after better-than-expected jobs numbers, but fell sharply in the afternoon ..

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• Retail, inflation slowdown a red flag for rates

  

  Australian retail sales were flat in February, falling short of forecasts that had predicted a slight rise. Photo: Tamara Voninski Australian retail sales were surprisingly muted in February, a red flag for hopes that consumer spending could offset global headwinds and keep the economy accelerating through the first half.Combined with a very subdued private-sector reading on inflation, Monday's data suggested the Reserve Bank of Australia (RBA) would have to..

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Brisbane group buys $40m Cairns DFO shopping centre .	Lung specialists call for better national approach to Black Lung Disease .
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