Kieran Bicheno
Kieran Bicheno Thaii Chung

Let's talk business: weekly business wrap

PREVIOUSLY in business: academic compares mining camps to the holocaust, big four banks aren't as competitive as we didn't think they were, and and tough times for Network TEN.

Mining camps create "hot boxes of crime"

A LEADING Brisbane academic and award-winning criminologist has compared Queensland mine worker accommodation to detention centres, gulags and concentration camps.

Fortunately for the workers many of these are no longer in use.

New study claims nation's big banks 'acting as a monopoly'

A STUDY by the Australia Institute has found that the big four banks are controlled by a small number of nominee shareholders.

According to the study the big four rolled doubles on the first turn and traded fiercely to cripple the other players.

Unconfirmed reports suggest that the big four are no longer invited to finance sector boardgame nights.

Mongolia learning from Aus how to make most of mining boom

MONGOLIAN government officials have headed for Australia to learn how to make the most of their own mining boom.

Industry figures have reported that the officials have developed plans to tax the industry too late, destroy families with FIFO and annihilate key nature reserves by accident.

The Mongolian parliament will vote later today on the best way to alienate mining executives.

Property auction successful in 'fixing the mess' by Labor

THE State Government has raked in more than $700,000 selling off properties acquired for the failed Traveston Crossing Dam project.

Initial press releases for the property fire sale suggested that the LNP had gone "Mad, Mad, Mad for low prices!" and "Had to clear excess stock!"

BHP Billiton project to now be run out of South America

BHP Billiton's Olympic Dam project in South Australia will now be governed from an office in South America after a company reshuffle on Thursday.

Staff at BHP's Adelaide office have been promised this will not reduce BHP's presence in the state.

The moves come after mining industry criticism that Australian workers wouldn't work for the same money as workers in poverty-stricken developing nations.

Jobless rate is the lowest since August: ABS

AN EXTRA 13,900 people were employed in November, pushing the unemployment rate down 0.1% to 5.2%, Australian Bureau of Statistics figures revealed on Thursday.

While this is great news for Julia Gillard and Wayne Swan, economists have pointed out that underemployment remains an issue, given that one hour of work a week makes someone 'employed'.

One such worker congratulated the government on the figure before asking if we had anything they could eat.

Ten to cut more costs due to recent poor performance

TROUBLED broadcaster Ten Network will cut an extra $35 million in costs and tap shareholders for $230 million in response to its recent poor performance.

The broadcaster recently cut 100 jobs in its news room and has been left wondering why standards have dropped.

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