International Business News - World Business http://www.ibtimes.com.au/globalnews/ All articles are copyrighted by IBTimes.com.au 400 100 http://www.ibtimes.com.au/ http://www.ibtimes.com.au/images/top_logo_ibt2_3.gif Passengers are flying again and Sydney Airport has reported double-digit upswing in both domestic and international travellers last February. According to owner MAp Group, the airport has posted a 12.3 percent growth in domestic passengers while international flyers are up to 11.8 percent. 119825 http://www.ibtimes.com.au/articles/20100319/sydney-airport-gets-air-traffic-boosts.htm Fri, 19 Mar 2010 10:08:38 GMT Former Genetic Technologies Limited (Genetic) chief operating officer, Geoffrey Edgar Newing, was handed a custodial sentence in the County Court of Victoria following an investigation by the ASIC into the trading of the company's shares, listed on the ASX under the stock code 'GTG'. 119821 http://www.ibtimes.com.au/articles/20100319/executive-sentenced-22-months-prison-over-market-manipulation.htm Fri, 19 Mar 2010 08:30:10 GMT A jury has failed to reach a decision in the corruption trial of Brisbane businessman Harold Shand, who is accused of secretly paying former Queensland government minister Gordon Nuttal. $60,000 in commission. 119820 http://www.ibtimes.com.au/articles/20100319/jury-fails-reach-verdict-shand-corruption-case.htm Fri, 19 Mar 2010 08:26:27 GMT Market regulator Australian Securities and Investments Commission (ASIC) on Friday banned Charles Phillip Grummisch, 58, of Warrandyte, Victoria, from trading and engaging financial service for ten years for violating financial services law. 119819 http://www.ibtimes.com.au/articles/20100319/asic-bans-victoria-exec-trade-ten-years.htm Fri, 19 Mar 2010 08:08:59 GMT As the economy is crawling its way back to recovery phase, bankers, accountants and lawyers are the lead packs and are making headways for either regaining or retaining job slots available in the market. In contrast, shop clerks and transport workers, who either quit or fired, are not being replaced. A survey conducted by the Australian Chamber of Commerce & Industry (ACCI)As the economy is crawling its way back to recovery phase, bankers, accountants and lawyers are the lead packs and are makin... 119810 http://www.ibtimes.com.au/articles/20100319/bankers-lawyers-fill-job-markets-as-recovery-is-underway.htm Fri, 19 Mar 2010 06:14:57 GMT Macquarie has convinced US-based banker Eric Schimpf, formerly from Merrill Lynch, to jump ship and head its 425 private wealth advisers of Macquarie Private Wealth. Schimpf will takeover from Peter Coleman, who left in late 2009, and is set to start at Australia's largest investment bank within the next few months. 119798 http://www.ibtimes.com.au/articles/20100319/macquarie-private-wealth-lures-us-banker-erik-schimpf.htm Fri, 19 Mar 2010 04:17:17 GMT The recent decision by The ACTU to urge employers to give a pay rise in minimum wages has received objections from retailers. 119797 http://www.ibtimes.com.au/articles/20100319/retailers-objects-minimum-wage-increase.htm Fri, 19 Mar 2010 03:29:03 GMT Brisbane-based Arrow Energy Ltd purposely halted its market trading, as it awaits release of information on the bid to be taken over by two giant energy companies. Arrow stressed that the decision is made, “pending the release of an announcement to the market about the non-binding indicative and conditional proposal received from a company jointly owned by Royal Dutch Shell and PetroChina.” 119791 http://www.ibtimes.com.au/articles/20100319/arrow-energy-halts-trading-awaits-info-on-takeover-deal.htm Fri, 19 Mar 2010 02:22:34 GMT New Zealand investment banker Stephen Versalko had the money defrauded used on prostitutes. His "ponzi" scheme were later exposed when one of his victims watched a television documentary on New York swindler Bernard Madoff. 119780 http://www.ibtimes.com.au/articles/20100319/stephen-versalko-investment-fraud-biggest-zealand-history-ponzi-scheme.htm Fri, 19 Mar 2010 01:16:26 GMT ABC Learning Center, Australia's childcare giant were still trading, despite after being declared insolvent. 119779 http://www.ibtimes.com.au/articles/20100319/abc-learning-center-australia-insolvent-collapse.htm Fri, 19 Mar 2010 01:02:10 GMT A former top gallery owner has pleaded guilty of defrauding his investors $120million. He sold artwork that did not belong to him and scamming others into investing in his 'fake' projects. he will face a prison sentence of six and 18 years if found guilty. 119776 http://www.ibtimes.com.au/articles/20100319/lawrencesalander-artwork-fraud-john-mcenroe.htm Fri, 19 Mar 2010 00:40:21 GMT The Queensland parliament has recommended that weekday trading hours for alcohol be moved back to no later than 2am in entertainment precincts and 1am elsewhere. The proposal is expected to be met with negative reactions from club owners and party goers. 119753 http://www.ibtimes.com.au/articles/20100318/queensland-alcohol-trading-hours.htm Thu, 18 Mar 2010 11:10:27 GMT Treasurer Andrew Fraser on Thursday reported that the state of Queensland is recording steady growth with the mining sector leading the way. Speaking in Brisbane, Fraser said he believed the state is on its way to a sustainable growth. 119751 http://www.ibtimes.com.au/articles/20100318/queensland-records-steady-growth.htm Thu, 18 Mar 2010 10:47:26 GMT An erstwhile Macquarie banker was meted out prison terms today for contempt of court after he tried to flee when the Australian Securities and Investments Commission (ASIC) ordered him to stay in the country for possible questioning. Earlier, Oswyn de Silva, 36, has admitted running a financial scheme that according to ASIC has earned for him a $3.6 million in profits. The young banker, though, was not charged despite his admission. 119749 http://www.ibtimes.com.au/articles/20100318/former-macquarie-banker-meted-out-jail-terms.htm Thu, 18 Mar 2010 09:54:07 GMT Climate change minister Penny Wong dismissed as non-sense claims that the Federal Government's planned carbon trading scheme or emissions trading scheme (ETS) would cause power rates to shoot up in NSW. 119736 http://www.ibtimes.com.au/articles/20100318/climate-change-ministers-dismisses-claim-ets-blame-power-hike.htm Thu, 18 Mar 2010 07:39:02 GMT Australian Prime Minister Kevin Rudd on Thursday warned China that "the world will be watching" the trial of mining executive Stern Hu and his three associates. Rudd made the statement after Australian diplomats were told Wednesday night that the trial of Hu and three other Rio Tinto executives Liu Caikui, Ge Minggiang and Wang Chong will commence next Monday. 119735 http://www.ibtimes.com.au/articles/20100318/rudd-tells-china-world-is-watching-hu-trial.htm Thu, 18 Mar 2010 07:23:12 GMT With its subsidiaries in downhill path and for apparent isolation from its mother company, an Australian auto expert predicted that Ford is on the verge of quitting Australia's car manufacturing industry. 119727 http://www.ibtimes.com.au/articles/20100318/analyst-predicts-ford-next-quit-australia-car-industry.htm Thu, 18 Mar 2010 04:55:04 GMT Authorities have announced that Stern Hu, Rio Tinto's chief negotiator, will stand trial on charges of taking bribes and infringing commercial secrets beginning Monday. 119726 http://www.ibtimes.com.au/data/articleimgs/240884-.jpg http://www.ibtimes.com.au/articles/20100318/stern-hu-rio-tinto-china.htm http://www.ibtimes.com.au/articles/20100318/stern-hu-rio-tinto-china.htm Thu, 18 Mar 2010 04:34:24 GMT Retiring BHP Billiton Chairman Don Argus aired the company's deep concerns about the state of the world economy and called on leading governments to employ extra cautions on their tax changes policy and reversing stimulus packages. 119725 http://www.ibtimes.com.au/articles/20100318/bhp-airs-warning-against-tax-changes-and-stimulus-reversal-policies.htm Thu, 18 Mar 2010 03:25:44 GMT Greenpeace accuses Nestle of removing "orang utan kit kat ad" removed from youtube. Protests staged outside Europe's Nestle headquarters in UK, Germany and the Netherlands. 119723 http://www.ibtimes.com.au/articles/20100318/greenpeace-accuses-nestle-nestle-greenpeace-orang-utan-kit-kat-ad-youtube.htm Thu, 18 Mar 2010 02:13:52 GMT