Implementing plan is a daunting task Oct 4, 2008
"They need to figure out how best to ensure there are no conflicts of interest; they need to think about accounting treatment, how sales affect balance sheets of firms that have like assets," said Travis Larson, a spokesman for the Securities Industry and Financial Markets Association. All rights reserved. (News & Observer)
Realty investors play equity card to save tax Oct 3, 2008
Some of these tests include the scale and frequency of the transactions, whether owned funds or borrowed funds were utilised for the transactions, the accounting treatment, the motive behind entering into the transactions, etc. The tests are indicative and not decisive, and need to be examined on a case to case basis, including their applicability to futures transactions, they add. (India Times)
Kobayashi Pharmaceutical Reports Financial Results for the First Quarter Ended June 30, 2008 Sep 22, 2008
Operating income fell year on year because of factors that impacted the cost of sales and changes to the accounting treatment of inventory valuations and losses on the valuation and disposal of inventories following the application of the Accounting for Inventory Valuations accounting standard starting this fiscal year ... This followed factors that impacted the cost of sales, changes in the accounting treatment of inventory valuations and losses on the valuation and disposal of inventories... (JCN Network, Japan)
Semcan Inc. Reports Second Quarter Fiscal Year 2008 Financial Results Sep 16, 2008
However, the current quarter's cost of sales has been affected by the accounting treatment for intangible assets relating to acquired order backlogs. The Company is required to attribute a value to the acquired backlog and write the ascribed value off over the life of the underlying orders, which is expected to be two years. (Canada Newswire)
Structures and career paths shift Aug 25, 2008
There aren't even firm standards for the accounting treatment of emissions-related assets and liabilities and the International Accounting Standards Board is still looking into it. It won't be easy: carbon emissions are hard to value because the value depends on supply and demand in various jurisdictions. (Sydney Morning Herald -- Business)
Write-downs hit Goodman result Aug 22, 2008
But after the one-offs and the accounting treatment of development profits, operating income after tax was $567. 1 million, up 11 per cent on the previous corresponding period. (Sydney Morning Herald -- Business)
Toll Brothers Reports Preliminary 3rd Qtr FY 2008 Totals for Home Building Revenues, Backlog and Contracts Aug 13, 2008
Certain information included herein and in other Company reports, SEC filings, verbal or written statements and presentations is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, information related to anticipated operating results, financial resources, changes in revenues, changes in profitability, changes in margins, changes in accounting treatment, interest expense, inventory write-downs, effects of home buyer... (Primezone Releases)
SXC Health Solutions announces second quarter financial results Aug 7, 2008
As a result, using this accounting treatment has increased our expected revenue guidance range, but has not impacted the gross profit guidance range. The HCIT business continues to record revenue only on the basis of the administrative fee; drug ingredient cost is not included in revenues or cost of claims. (Canada Newswire)
Mid-America Reports Second Quarter Results Aug 1, 2008
The following factors, among others, could cause our future results to differ materially from those expressed in the forward-looking statements: -- inability to generate sufficient cash flows due to market conditions, changes in supply and/or demand, competition, uninsured losses, changes in tax and housing laws, or other factors, -- inability to acquire funding through the capital markets, -- inability to pay required distributions to maintain REIT status due to required debt payments, --... (PR Newswire)
First Financial Bancorp Reports Second Quarter 2008 Financial Results Jul 30, 2008
The fair value accounting treatment discussed above will require First Financial to recognize in its income statement both the market value increases and decreases in future periods. DEPOSITS NG Total deposit balances, both average and period-end, declined on both a comparative quarter and on a linked-quarter basis. (PR Newswire)
Tyson Reports Third Quarter and Nine Months Results Jul 28, 2008
Beef performed better than expected, although results were masked by a negative $75 million impact from application of mark-to-market accounting treatment related to our unrealized derivative losses for forward cattle purchases and forward boxed beef sales,'' Bond said. Although we will profit from this risk management activity over the coming months, it disguises an otherwise solid performance in our beef operations this quarter. (Primezone Releases)
Irwin Financial Corporation Announces Major Strategic Restructuring to Refocus on Small Business and Local Community Banking Jul 25, 2008
We will continue serving our community bank customers in our branch network communities with banking, trust, investment, and insurance services," Mr. Miller said. The Corporation will host a conference call at 1:00 EDT on Friday, July 25, 2008, to discuss these transactions. To join the call, dial either 1 (866) 825-3967 or outside the U.S. 1 (847) 413-3371 and provide confirmation number: 22334966. Irwin Financial expects to release its second quarter 2008 results and pro forma results that... (PR Newswire)
Allegiant Travel Company Reports Second Quarter, Half Year 2008 Financial Results Jul 23, 2008
2) * except load factor and percent of sales through website, which is percentage point change Allegiant Travel Company Non-GAAP Presentations Three Months Ended June 30, 2008 and 2007 (in thousands, except per share and per ASM amounts) (Unaudited) We do not qualify for fuel hedge accounting treatment under FAS 133 ... We believe use of these non-GAAP measures assists investors in understanding the underlying economic performance of the Company without regard to different accounting treatment... (PR Newswire)
Oilcorp EGM over accounting dispute open to all Jul 22, 2008
Oilcorp shares have been suspended from trading since May 20 on a disagreement between the management and its auditors over the accounting treatment relating to a long-term contract amounting to RM110mil or RM90mil, depending on the inclusion of a variation order of RM20mil. Horwath partner Onn Kien Hoe in his presentation said it was true that there was no formal documentation for the additional work worth RM20mil in 2007, and that the management of the company was at fault for this. (The Star Online, Malaysia -- Business)
The Oilcorp saga Jul 19, 2008
On May 20, Oilcorp announced that its management and BTMH disagreed on the accounting treatment of the biodiesel plant contract. Trading in the companys shares was suspended that day. (The Star Online, Malaysia -- Business)
Oilcorp account treatment okayed Jul 1, 2008
PETALING JAYA: Oilcorp Bhd said it has received Messrs Horwath's independent verification report that confirmed the validity of its accounting treatment for a RM110mil long-term contract. In a filing with Bursa Malaysia yesterday, it said the accounting firm found sufficient evidence of two stages to the construction plans of the biodiesel plant project. (The Star Online, Malaysia -- Business)
How to achieve structured product accountability Jun 30, 2008
For products that the banks want to reputationally support, we would marry a brand with on-balance-sheet accounting treatment and capital requirements. By more extensive use of brands, we would ensure that consumers and distributors have less incentive to move out the risk curve without properly considering the downside risk. (Globe and Mail -- Business)
Rajrishi Singhal: FCCB burden Jun 24, 2008
The problem arises in the accounting treatment being used by the issuers. Using a loophole in the accounting standards, most Indian companies have not accounted for the redemption premium payable if the bond is not converted. (India Times)
James Hardie faces US tax penalty Jun 23, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
FROM OUR ARCHIVE: SEC action in May Jun 6, 2008
Greenberg said Samueli has no accounting training and was never responsible for stock options accounting and that the report had found he "reasonably relied on management and other professionals regarding the correct option accounting treatment and grant approval process.". William Ruehle's lawyer, Richard Marmaro, issued a statement saying Ruehle denied the allegations in the SEC complaint and that he would vigorously oppose it. (USA Today -- Money)
Navios Sunk By Higher Expenses May 30, 2008
We are discouraged by the company's poor first-quarter performance and we believe the company's complexity and opaque accounting treatment is often discouraging to investors, she said. Nevertheless, we suggest the fundamentals of Navios' core businesses are sound and retain significant value. (Forbes -- Markets)
Global Development Resources, Inc. to Refile Unaudited Quarterly Financial Statements for 2007 May 24, 2008
The refiling is due to the incorrect accounting treatment in the Quarterly Financial Statements of the Company's two partially owned development companies, Rare Earth New Mexico, LLC and The Thoms Estate, LLC. (collectively, the "Development LLC's") ... The proper accounting treatment of the Development LLC's should have been under CICA Accounting Guideline Number 15, Consolidation of Variable Interest Entities ("AcG 15"). (CCNMatthews Press Releases)
Oilcorp pre-tax profit cut raises questions May 22, 2008
PETALING JAYA: Oilcorp Bhds controversial announcement over the accounting treatment of a RM110mil long-term contract has raised questions among the accounting circle over the delay in addressing the issue ... However, on Tuesday, the company said it was revising downwards its pre-tax profit to RM7mil from RM22mil over the accounting treatment of the contract. (The Star Online, Malaysia -- Business)
OilCorp cuts pretax profit by RM22m to RM7m May 20, 2008
OilCorp said there was a disagreement on the accounting treatment relating to a long-term contract amounting to RM110mil, inclusive of a variation order of RM20mil. Based up on the auditors proposed accounting treatment, the previously announced profit before tax will be reduced by approximately RM15mil, from RM22mil to RM7mil, it said. (The Star Online, Malaysia)
Sime Darby, Tenaga lift KLCI but steel stocks fall May 15, 2008
The cumulative year-to-date mark-to-market losses pertaining to the accounting treatment of US interest rate swaps were at RM353mil and mainly due to the cut in US rates by 200bps in the third quarter of FY08, it said. However, JP Morgan said the accounting loss should not surprise the market as this was already fully explained in the 2Q08 briefing. (The Star Online, Malaysia -- Business)
Middleburg Financial Corporation Announces 2008 First Quarter Earnings May 10, 2008
Prior periods will not be restated to reflect this accounting treatment and may affect comparability. At the time of this release, details related to the consolidation were unavailable and will be provided in the Company's March 31, 2008, Form 10-Q. The Company expects the March 31, 2008, Form 10-Q to be filed no later than May 16, 2008. (PR Newswire)
AIG reports massive Q1 net loss of US$7.8bil May 9, 2008
AIG said the net loss included the effect of economically effective hedging activities that did not qualify for hedge accounting treatment under FAS 133 or for which hedge accounting was not applied, including the related foreign exchange gains and losses. For Q1 of 2007, AIG reported net income of $4. (The Star Online, Malaysia)
DCP Midstream Partners Reports First Quarter 2008 Results May 8, 2008
We utilize mark-to-market accounting treatment for our non-trading commodity derivative instruments ... Non-cash gains or losses associated with the mark-to-market accounting treatment of our non-trading commodity derivative instruments do not affect our distributable cash flow. (PR Newswire)
Walter Industries, Inc. Announces First Quarter 2008 Results and Recent Metallurgical Coal Contract Pricing in Excess of $315 Per Metric Ton May 2, 2008
The hedge loss at Financing was recorded to recognize a loss on maturing interest rate swaps that no longer qualify for hedge accounting treatment. The interest rate swaps, originally intended to hedge the Company's next securitization, no longer qualified for hedge accounting treatment because the Company does not plan to access the distressed securitization market. (PR Newswire)
Western Sizzlin Reports 2007 Annual Financial Results Apr 16, 2008
It is important to note that the financial data set forth below reflects a change in the accounting treatment that now affects the reporting of our investment portfolio ... However, despite the different accounting treatment, we believe that simply holding securities in different legal structures does not change our views on the intrinsic value of our investees, which we believe is primarily driven by cash flows that can be distributed out of the business. (PR Newswire)
A Tighter Clinch For Toyota And Fuji Heavy Apr 2, 2008
Toyota would likely keep its stake in Fuji Heavy below 20% to avoid a more onerous accounting treatment. Thomson Financial contributed to this article. (Forbes -- Markets)
UTi Worldwide Reports Fiscal 2008 Fourth Quarter and Full Year Results Mar 27, 2008
12 per diluted share, primarily for a reduction in staff costs related to the accounting treatment of the company's Grupo SLi and Union S.L., acquisition-related earn-out payments. Excluding the restructuring charges in fiscal 2008 and the Grupo SLi and Union S.L., adjustment in fiscal 2007, adjusted net income in fiscal 2008 was $104. (Primezone Releases)
Independent Bank Corporation Announces the Dates for its First Quarter 2008 Earnings Release and Analyst Conference Call Mar 26, 2008
Factors that could cause or contribute to such differences are changes in interest rates, changes in the accounting treatment of any particular item, the results of regulatory examinations, changes in industries where the Company has a concentration of loans, changes in the level of fee income, changes in general economic conditions and related credit and market conditions, and the impact of regulatory responses to any of the foregoing. Forward-looking statements speak only as of the date they... (PR Newswire)
Switzerland: 2008 Article IV Consultation, Concluding Statement of the IMF Mission Mar 18, 2008
After adjusting for structural and cyclical factors (and the asymmetrical accounting treatment of retained earnings between direct and portfolio investments), the size of the current account is about 4 percentage points greater than the norm based on Switzerland's economic fundamentals. The reduction of the double taxation of dividend income could lead Swiss firms to reduce their retained earnings and hence reduce the excess over the norm. (IMF News)
Shell reserves flat in 2007 Mar 17, 2008
The Shell spokeswoman said Shell's Reserves Replacement Rate (RRR), the rate at which production is matched with new finds, was only 17 per cent as measured under SEC rules, down from 158 per cent in 2006, due to the accounting treatment of the sale of part of its stake in the Sakhalin-2 project in Russia. The low RRR reflects an industry-wide problem of adding new reserves as resource-holding nations increasingly hold back their best fields for their own national oil companies. (Globe and Mail -- Business)
Paladin Reports Record 2007 Fourth Quarter and Year End Results Feb 28, 2008
9 million, related to the accounting treatment of the BioEnvelop acquisition. Selling and marketing expense for the fourth quarter of 2007 increased to $7. (CCNMatthews Press Releases)
Cash in bank to buffer from crash Feb 27, 2008
Excluding the one-offs and the new accounting treatment of development profits as they occur, the bottom line net profit fell 38 per cent to $3. 4 billion in the year to December 31, 2007, from $5. (Sydney Morning Herald -- Business)
Allco admits to $1.9b error Feb 27, 2008
"The obligation on an auditor is to satisfy himself or herself that the terms of the loan documentation are properly reflected in the accounting treatment from the beginning," Mr O'Bryan said. Misclassification of current liabilities "can't happen if it's looked at properly", he said. (Sydney Morning Herald -- Business)
Regulators revise pay reporting rules Feb 23, 2008
3-million (U.S.) in 2006 as a result of the accounting treatment of its compensation expense. The company said Mr. Cockwell was actually paid about $1. (Globe and Mail -- Business)
Sims looks to 2H after lacklustre result Feb 22, 2008
The company said the figure was due to changes in accounting treatments and forecast increased prices and earnings in the second half ... Sims Group also advised that changes in accounting treatment had led to an increase in the company's amortisation expense, resulting in a reduction in reported net profit after tax of $7. (LIVENEWS.com.au)
DCP Midstream Partners Reports Fourth Quarter and Year End 2007 Results Feb 21, 2008
CEO PERSPECTIVE "We're very pleased with the value we provided to our unitholders in 2007, growing our quarterly distribution to $0.57 per unit for the fourth quarter of this year as compared to $0.43 for the fourth quarter of 2006 -- a 33% increase," said Mark Borer, president and CEO. "Our strong operating performance across all segments provided a strong 1.6 times coverage on our total distribution for the quarter. We remained busy in the fourth quarter, optimizing our approximately $625... (PR Newswire)
ANSYS Reports Record Fourth Quarter and Annual Results Driven by Organic Revenue Growth Feb 21, 2008
Additionally, a significant portion of the tax benefits related to disqualified incentive stock options is accounted for as an increase to equity (additional paid-in capital) rather than as a reduction in income tax expense, especially in the periods most closely following the adoption date of SFAS No. 123R. Although all such benefits continue to be realized through the Company's tax filings, this accounting treatment has the effect of increasing tax expense and reducing net income. For example,... (Primezone Releases)
AMP puts buyback on hold Feb 15, 2008
2 million including special accounting treatment given to performance rights over a three-year period. Mr Dunn, in his previous role as chief operating officer, got $3 million. (Melbourne Herald Sun)
Centene delays quarterly, annual reports Feb 6, 2008
The company believes the appropriate accounting treatment is the recognition of the retroactive rate increase in the fourth quarter of 2007. However, if this is not deemed appropriate for 2007, an equal amount of revenue and associated earnings will be recognized in the first quarter of 2008. (Milwaukee Business Journal, WI)
New leasing manual from HMRC Feb 1, 2008
The taxation of many leasing transactions depends wholly or in part on the accounting treatment and the new manual gives guidance and an overview of lease accounting. FA 2006 introduced new rules for identifying and taxing long funding leases. (Accounting Web, UK)
Vectren Corporation Reports 2007 Results Jan 31, 2008
Further, additional expenditures for a multi- year bare steel and cast iron capital replacement program will be afforded certain accounting treatment that mitigates earnings attrition from the investment between rate cases ... Similar to the Vectren South rate case, additional expenditures for a multi- year bare steel and cast iron capital replacement program will be afforded certain accounting treatment that mitigates earnings attrition from the investment between rate cases. (PR Newswire)
GameTech Revises Earnings and Revenue for 4th Quarter 2007 and 2007 Fiscal Year End Results Jan 22, 2008
The revision was a result of a closer review by management and the company's independent auditors of the proper accounting treatment for two invoices related to a single non-standard arrangement involving multiple delivery elements with a customer in our Summit Gaming division. This revenue and related net income will be recognized in the first quarter of fiscal 2008. (PR Newswire)
Coleman Cable, Inc. Announces Planned Consolidation of Woods' U.S. Distribution Facilities Jan 18, 2008
For financial reporting purposes, the majority of the cash expenditures are expected to be treated as a purchase accounting adjustment with the remainder accounted for as a restructuring or operating expense, although the ultimate accounting treatment is subject to further review and analysis. About Coleman Cable, Inc.. (Primezone Releases)
The Conference Board Finds that CEOs Have a Lot of Financial Interest in Common With Their Shareholders Jan 1, 2008
They also align the reporting of stock awards in certain tables with their accounting treatment. To control for different considerations in preparing numbers, this report uses data from a number of areas from company proxy reports and concentrates on seven elements of compensation: salary, bonus, non-equity incentive compensation, stock, stock options, changes in pension, and other compensation for CEOs across different company size (revenue) groupings and industries. (PR Newswire)
Letter: Reader tired of county mistakes Dec 11, 2007
r d wrote on Dec 7, 2007 11:19 AM:" Thank you Tri-pleX, you made the correct points, especially that the accounting "error" went on for many years -- likely over the course of 3 or 4 administrations. One question I'd have: why didn't BSB's independent auditing firm catch this? Who is the city/county's auditor? It should have been caught the year it first occurred, and even if the accounting treatment were considered correct at the time, it should have been caught in subsequent audits. ".... (Montana Standard, MT)
Oil Refineries Announces Financial Results for Third Quarter and Nine Months 2007 Nov 20, 2007
The one-time charge, net after tax, resulted from the accounting treatment of a privatization grant paid in the first quarter 2007, by the government to the employees of Oil Refineries and its subsidiaries, following the successful privatization in February 2007. Net income for the nine months, including this one-time privatization expense, totaled NIS 556 million. (PR Newswire)
Matier & Ross: Speier lays groundwork for congressional run Nov 20, 2007
" Valley boys: Nobel Peace Prize winner Al Gore's signing on as a partner at Kleiner, Perkins, Caufield adds a green shine to one of Silicon Valley's premier venture capital firms - but when it comes to politics, the big-money, high-tech outfit is equal parts red and blue. Partner emeritus E. Floyd Kvamme was one of President Bush's early $100,000 Pioneer backers and is co-chair of the president's Council of Advisers on Science and Technology. On the other side, founding partner and biotech... (San Francisco Chronicle)
Frontline Ltd.: Interim Report July -- September 2007 Nov 15, 2007
The 2006 financial statements have been restated to reflect the revised accounting treatment for three entities within the ITC group which were previously fully consolidated but are now being accounted for as investments under the equity method. The restatement has no effect on net income. (Primezone Releases)
Citing Challenging Conditions, McClatchy Takes $1.3 Billion Write Down Nov 9, 2007
About one-third of the goodwill impairment charge resulted from the accounting treatment of the value of common stock issued in the Knight Ridder acquisition, which resulted in additional goodwill being recorded. In March 2006, McClatchy announced it bought Knight Ridder for approximately $4. (MediaWeek.com)
Noble International, Ltd. Announces Global Expansion, Manufacturing Footprint Optimization and Third Quarter Financial Results Nov 8, 2007
Selling, general and administrative ("SGpense of $10.8 million in the third quarter of 2007 increased from $4.1 million in the third quarter of 2006. The increase in SGs is due to the addition of personnel from the acquisition of Pullman and TBA as well as costs to launch the Tonawanda, New York facility and to support other key growth initiatives. In addition, the Company expensed $0.5 million of certain costs related to the TBA acquisition. As a percentage of sales, SGnse increased to 5.1%... (PR Newswire)
Gemalto Reports Third Quarter 2007 Revenue Nov 8, 2007
(2) Prepared on an adjusted basis, excluding one-off expenses incurred in connection with the combination with Gemplus, reorganization charges and charges resulting from the accounting treatment of the transaction. (3) Effective July 1, 2007 Transport activity is reported under Secure Transactions in order to align external reporting with the operational organization put in place by Gemalto also effective July 1, 2007. (Canada Newswire)
Edge Petroleum Announces Third Quarter 2007 Financial Results Nov 8, 2007
As of the first quarter of 2006, we do not apply cash flow hedge accounting treatment to any of our contracts. Price risk management transactions for the remainder of 2007 through 2009 are shown below. (Primezone Releases)
Leadcom UK Regulatory Announcement: 3rd Quarter Results Nov 6, 2007
The total revenues for the full year of 2007, should the discontinuance accounting treatment is not applied, would be around US$233 million. At this point, cooperation with this vendor in other regions will continue as planned, provided healthy margins are maintained. (BusinessWire)
Ex-HIH director gets extra year in jail Nov 6, 2007
In September, he pleaded guilty to one count of failing to act honestly in the discharge of the duties of his office, dishonestly and intending to gain an advantage for HIH, namely a beneficial accounting treatment. His lawyer had argued the offence involved him acting "recklessly", but Justice Bell accepted the Crown submission his actions were knowingly dishonest. (Sydney Morning Herald -- Business)
UAW-Ford Reach Tentative Agreement on New National Labor Agreement Nov 4, 2007
Following ratification, implementation of the memorandum of understanding is subject to approval by the courts and satisfactory review of accounting treatment with the Securities and Exchange Commission. Though we will not discuss the specifics of the tentative agreement until after it becomes final, we believe it is fair to our employees and retirees, and paves the way for Ford to increase its competitiveness in the United States. (PR Newswire)
Vectren Corporation Releases Third Quarter Results Nov 2, 2007
Further, additional expenditures for a multi-year bare steel and cast iron capital replacement program will be afforded certain accounting treatment that mitigates earnings attrition from the investment between rate cases. Vectren North Gas Base Rate Filing In May 2007, the company filed a petition with the IURC to adjust its gas base rates and charges in its North service territory. (PR Newswire)
NightHawk Radiology Holdings, Inc. Releases Record Third Quarter 2007 Results Oct 31, 2007
We exclude the non-cash charges related to our stock-based compensation due to the varying valuation methodologies, subjective assumptions and the variety of types of awards that companies can use when applying FAS 123R along with the fact that a substantial portion of our outstanding options and restricted stock units are held by our independent contractor physicians and require accounting treatment that differs from the accounting treatment for options and restricted stock units held by... (PR Newswire)
Allegiant Travel Company Reports Third Quarter 2007 Financial Results Oct 30, 2007
3 * except load factor and percent of sales through website, which is percentage point change Allegiant Travel Company Non-GAAP Presentations Quarters Ended September 30, 2007 and 2006 (in thousands, except per share and per ASM amounts) (Unaudited) Unlike many airlines, we do not qualify for fuel hedge accounting treatment under FAS 133 ... 9 * except load factor and percent of sales through website, which is percentage point change Allegiant Travel Company Non-GAAP Presentations Nine Months... (PR Newswire)
IBERIABANK Corporation Reports Third Quarter 2007 Results Oct 25, 2007
Excluding these merger-related and severance costs and changes in accounting treatment, the adjusted (non-GAAP) EPS figure was $0 ... Excluding merger-related and other severance costs and changes in accounting treatment, the comparable figures were 1 ... 75, excluding the impact of merger-related and severance costs (including the additional cost of carrying financing incurred in advance of completion of the acquisitions), the cost of adoption of SFAS 123R, and other changes in accounting... (PR Newswire)
Is Foster's about to sell historic brewery? Oct 24, 2007
Last month, Fodera, 47, pleaded guilty to failing to act honestly in the discharge of the duties of his office, dishonestly and intending to gain an advantage for HIH, namely a beneficial accounting treatment. In June, the married father of four was jailed for two years after being found guilty of authorising a prospectus from which there was a material omission. (The Age, Australia -- Business)
