Most-read business stories of 2012

Clive Palmer continued to make headlines in 2012.The most-read business stories on smh南京夜网.au in 2012: Property prices, Clive Palmer and global economics.
Nanjing Night Net

10. Property market undergoing seismic shift, report finds

Australia’s real estate sector is undergoing a once-in-a-generation shift as debt-wary buyers stay out of the market, Chris Zappone reported in March.

9. Home prices extend national retreat

Home values fell the most in at least six years in May defying Reserve Bank efforts to spark a recovery in the nation’s lacklustre housing market with interest rate cuts.

8. History may judge Trujillo more kindly

History has probably dealt former Telstra chief executive Sol Trujillo an unfair blow, columnist Elizabeth Knight wrote in November.

”Only three years ago it looked like he had blown up billions of dollars of Telstra shareholders’ capital. But a lot has changed since then.”

7. The $665 million man: 41-year-old ‘Wizard of Oz’ returning to Sydney with a fortune

In October, it was reported flamboyant hedge fund manager Greg Coffey, dubbed the “Wizard of Oz”, has quit his job in London and declared his retirement from the industry aged just 41 and after amassing a fortune estimated as high as $665 million. The Australian-born financier, who was as renowned for his eccentricities as his investment performance, told investors in a letter that the demands of the job were too onerous and he wanted to spend more time with his family in Sydney.

6. Coke loses its fizz in battle of the margins with Woolies

If Coke doesn’t have the brand power to stare down Woolworths, who does, Colin Kruger asked in March after Coca-Cola Amatil released its full-year results, offering a clearer picture of its costly battle with Australia’s largest retailer over profit margins in supermarket aisles.

5. World Bank’s crisis warning

In January, the World Bank said the global economy was on the edge of a new financial crisis, deeper and more damaging than the one that followed the collapse of Lehman Brothers in 2008.

4. Online mega sale to lift local retail

Some of Australia’s biggest retailers, including Myer, Target, Westfield and Dick Smith, have signed on for Click Frenzy, it was announced in November. Click Frenzy, of course, turned out to be nothing like America’s online shopping phenomenon, Cyber Monday.

3. US, Europe continue the global sharemarket carnage

In July, the carnage on global stock markets continued with US shares falling again and stocks in Europe sliding to four-month lows as jitters intensified over the deepening eurozone debt crisis.

2. How Australia topped the medal tally

BusinessDay columnist Michael West showed how statistician Brian Dawes determined that Australia had actually won the most medals at the London Olympics, in the second most-read business story of the year.

1. Clive Palmer plans to build Titanic II

The headline says it all, really. In April, Queensland billionaire mining magnate Clive Palmer unveiled his plans to build the Titanic II to add to his tourism portfolio. He said his new company, Blue Star Line Pty Ltd, had commissioned the state-owned Chinese company CSC Jinling Shipyard to build a near replica of the ship.

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