John Durie DECEMBER 02, 2014 THE AUSTRALIAN IAN Morrice has embarked on a Metcash revamp at the worst time, with consumers cautious, the stockmarket negative, and the early signs on the shop floor are not great. This means as confident as the likeable Scot is that his turnaround plan is poised for big things, the evidence is not exactly there to show for it quite yet. Morrice has more revamps going on at Metcash than most have had hot dinners, but the bottom line is after reporting earnings of $165 million in the first half, Metcash will report only $155m in earnings before interest and tax in the second half. Margins on his food and liquor stores have fallen to a touch over 2 per cent, half what they were in the 2013 financial year. The revamp is running six months behind schedule, but Morrice is confident when it hits…

Matthew Hall December 2, 2014 The Age Target Australia said the suspect cosmetics were bought from an official M.A.C wholesaler and shipped into Australia via parallel importing. Estee Lauder said it was suing over the fake goods. Target Australia said the suspect cosmetics were bought from an official M.A.C wholesaler and shipped into Australia via parallel importing. Estee Lauder said it was suing over the fake goods. Photo: Jason Merritt As law enforcement and retailers continue to fight against the lucrative international counterfeit industry, an Australian company is claiming its cheap tools will change how the industry will tackle fake goods from China. Sydney-based YPB has purchased tracer patents developed by China’s Dalian Maritime University to pair with its own scanners and acquired Brand Reporter, a US-based start-up that developed a platform for companies to identify and track counterfeit products in the supply chain and at retail points. “Only two…

ANDREW FRASER DECEMBER 02, 2014 THE AUSTRALIAN PETROL prices in Australia have fallen in the past week and are set to keep on dropping, but not to the same extent as world oil ­prices. An oversupply of oil has seen world prices drop about 35 per cent in recent weeks, but they have dived since OPEC last week declined to cut world production. While world oil prices dropped dramatically after the OPEC ­announcement, the fall is not being reflected at Australian petrol pumps, despite crude oil being the major input into the cost of production of petrol. The drop in the exchange rate is another complicating factor, because with the Australian dollar trading about 10c below where it was a few months ago not all of the drop in the cost of production has been passed on. But there is still a general trend towards lower petrol prices, which should…

December 5, 2014 The Age Exorbitant credit card surcharges could soon be a thing of the past. The financial services inquiry led by David Murray is reportedly calling for a ban on excess surcharges on credit and debit card transactions. Instead, retailers would be limited to 12 cents or 0.5 per cent of the transaction value, whichever is less, News Corp reported on Friday. Many now charge two or three per cent on top of the purchase price if customers pay with credit card. Treasurer Joe Hockey said recommendations around the payments system are more likely to be matters for independent regulators APRA and the Reserve Bank to consider. The government would focus on consumer protection and education. The Murray inquiry will be released publicly on Sunday. Mr Murray, a former chief of the Commonwealth Bank and head of the Future Fund, and his team have been working on the…

The Age December 5, 2014 As a refreshing drink it is okay, but the coconut isn’t all it’s cracked up to be. Still, Victoria’s Secret Angel Doutzen Kroes puts coconut oil in her hair for lustrous locks and Gwyneth Paltrow admitted to oil pulling with coconut oil. Celebrities from Lara Bingle to Pete Evans have endorsed coconut water and global sales have reached $400 million a year. The coconut, whether lathered on skin or drunk like water, claims to restore skin while boosting your immune system. The Raw C coconut water website says the drink has taken off because of its natural hydrating qualities, as well as being a great source of nutrients, including calcium and magnesium. “Coconut water also contains the same amount of potassium as a banana.” The ABC says coconut water is moderately rich in potassium and minerals, magnesium, sodium, calcium and phosphorus. But it also said…