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Corporate Management

For our purposes, corporate management are those things that affect the internal workings of a business, whether it be a public corporation, a private company, a partnership, a sole trader or one of a host of alternative corporate structures.

Years ago, there was a cliché phrase that seemed to be repeated far too much: "a little knowledge is a dangerous thing." We need to relearn this for the benefit of society as a whole and for business in particular as comment-lite and narrow opinion is promoted as the norm across the whole spectrum of media.

Nigel Morris-Co...
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The Federal Court of Australia has ordered the winding up of 18 companies associated with the Macro Group, all of which have Desiree Veronica Macpherson as a director.

Editorial Staff
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"Diploma, established in 1976, is a publicly listed commercial construction and property development company, undertaking a diverse portfolio of commercial, retail and high density residential projects," according to its website but Australia's corporate regulator, ASIC, has appointed liquidators to the group. Its shares on ASX have been suspended since the end of August 2016

Editorial Staff
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We've been asking questions about Vijay Mallya for a very long time and not just in relation to the funding of his Formula One team, now rather less dependent on the group of companies he headed than it once was. Then again, the group isn't what it was, either, despite what it says on e.g. Expedia. Now he's been arrested, in London, the main questions are why has it taken almost a year since India cancelled his passport and asked for him to be sent back.

Editorial Staff
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Norway's sovereign wealth fund, Norges Bank Investment Management (NBIM) part of the Norwegian Central Bank, is reported to be "by far the largest in the world" and it's not happy with declining returns on its investment. Companies, it says, are granting salary and bonus packages that deplete companies' resources and promote short-termism in management. It says that C level executives should be properly remunerated but that dashing the cash isn't the way to do it.

Editorial Staff
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Hanjin Shipping Co. was the subject of an order placing the company into liquidation by court in Seoul this morning. Its collapse is a lesson to those that think running a deficit year after year is acceptable. Sooner or later, it found, people stop pumping good money after bad.

Editorial Staff
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The conviction of a man for destroying mobile phones containing evidence in a bribery case raises issues that go far beyond the immediately obvious.

For details of the case, see Jail for destroying mobile phones containing evidence (Subscription)

For the reasons that comms devices must now be a Board issue, read on..

Nigel Morris-Co...
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The Australian Federal Court yesterday found that German construction group holding company Hochtief Aktiengesellschaft (Hochtief AG) engaged in insider trading.

The Judge had express warnings for businesses operating in Australia and expressed his criticisms in terms more usually reserved for financial services companies. He reserved special warnings for foreign corporations with operating units and subsidiaries in Australia.

Editorial Staff
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Michael Hughes explains that innovation only takes hold when someone else joins in: then others see a trend instead of an isolated freak.

Editorial Staff
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Airbnb, already facing difficulty in relation to unlicensed rentals, has issued an e-mail to all its customers requiring them to enter into a specific commitment relating to discrimination. If users do not specifically accept the policy, Airbnb says, "you won’t be able to host or book using Airbnb." But the policy has aspects that some will find difficult or, arguably, illegal to accept.

Editorial Staff
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Just as Uber, etc., drivers are often uninsured and unlicensed, so are those who let out apartments via on-line rental services. New York has long had very strict rules about short term lets but the laws had little or no bite to them. But NY Governor Andrew Cuomo has just approved a law that gives the law teeth on an escalating scale. airbnb and similar sites don't like it.

Editorial Staff
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While the average article focusses on the announcement of WhatsApp's about-face regarding the implementation of advertising, its founders having repeatedly assured user that the messaging platform would never carry advertising, the bigger issue is this: Facebook, which bought WhatsApp and authorised those assurances, and guaranteed users privacy, is about to plunder WhatsApp user data and to make it available to third parties. USers have a stark choice: try to sort out a complex opt out (that depends on whether Facebook can be trusted and history repeatedly demonstrates otherwise), to accept the total loss of privacy in messaging or to leave WhatsApp entirely.

Editorial Staff
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