Australia provides half of the world’s legal supply of raw opiate, but demand and prices are tumbling. Tasmanian farmers will plant about 12,000 hectares of poppies this season, less than half the 2013 harvest, in response to U.S. efforts to restrict consumption of opioid drugs.
The enforcement-only approach to immigration is leading to sharp labor shortages in agriculture and construction. The Trump administration is considering a merit-based immigration system similar to Canada's and Australia's.
India is about to become the next major world economy to adopt a simplified goods and services tax (GST), the equivalent of a sales tax. This promises to usher in business simplification, efficiency, and economic growth. The success (or failure) of this tax may eventually point the way to a whole new way of taxation for the U.S. economy.
The United States has the biggest agriculture industry on earth, yet farmers face mounting pressure from Russia, Brazil, and Ukraine. Those rival countries, as well as others, are well-positioned to profit from the United States pulling back from trade deals.
Flu vaccines are made from chicken eggs. Some companies are working on alternative sources, such as dog kidneys and Australian weeds, for the vaccines.
With the upscale Australian department store chain Myer, EBay created a Virtual Reality Department Store, giving away 20,000 "shopticals" that let shoppers browse merchandise via augmented reality. Differentiating EBay from Amazon is the centerpiece of CEO Devin Wenig’s strategy.
Atlassian, a software company from Australia that makes popular project-management and chat apps, sold $320 million worth of business software last year without a single sales employee. Everyone in the industry noticed.
The sharing economy doesn’t share the wealth. For instance, Airbnb’s more than forty subsidiaries may help the company lower its tax bill in the United States and other countries. Several countries are trying to crack down on corporate tax avoidance.
Real estate agents turn to Uber-driving amid prolonged property slump. Cars for hire increased 51 percent in the first half of 2015.
The soaring demand for fresh beef in China, in combination with the recent free-trade agreement between China and Australia, has led to live cattle being transported by air from Australia to mainland China.
A new trade agreement between Australia and China has paved the way for additional trade. One development is the shipping of live cattle from Australia to China, where the cows are then slaughtered. Specialized containers have been developed to facilitate the shipping of cattle on Boeing 747 aircraft, which allows shipping to cities far from China's coast.
Dairy farms around the world are suffering from declining milk prices. A combination of reduced Chinese demand for imported milk and Russia’s ban on EU, American, and Australian milk has left the global market awash with milk. As a result, global dairy prices are falling with no turnaround in sight.
High prices for milk last year caused farmers in many countries to invest in increased production.This year, with markets slowing in China and trade tensions with Russia, global trade in dairy products is down. Hence, dairy farmers worldwide are in a tough financial bind.
Netflix is on track to become the first worldwide, online subscription television network. But it may have difficulty selling the same service the same way everywhere, especially in Japan.
Netflix continues to see a growth in revenues, with strong sales in the United States, Canada, Australia, United Kingdom, and Brazil. Now the company has its sights set on Asian markets as it rolls out its service in Japan. This, however, will bring new challenges, as Japanese consumers are not used to paying for programming.
Netflix has been a Western phenomenon. Betting that streaming will become a global phenomenon, Netflix will expand to more than 150 countries by the end of 2016.
Can data that is stored in another country be kept safe and private?
Starbucks' flat white is being introduced in the U.S. after successful runs in Australia and Britain.
As the Chinese buy less coal and iron ore from Australia, the country can rely more on farming and tourism.
Australian exports of coal and minerals to China are falling, while exports of beef are rising.
China’s economic slump crushes demand for iron ore and coal.
What is the current state of the market for cruise lines in Asia, and how will it change in the future?
Abu Dhabi’s Etihad Airways is betting that its investments in a global network of smaller, cash-strapped airlines will be a successful long-term play.
Construction and employment in Australia are rebounding, aided by rate cuts.
Outsourcing large components of buildings or factories can cut costs and improve quality.
In Australia, at least 3 percent of every worker’s paycheck goes into a compulsory retirement savings program. Should Americans be required to save more for retirement?
TV networks are investing in an app that keeps viewers subsidizing the TV ad model even while glancing down at their phone.
What did you say? There's huge profits in helping people hear?
How can you profit from future climate change? Where is the “smart money” investing in this area?
Most wine exported from Australia now ships in container-sized plastic bladders, to be bottled after the ocean journey.
Chobani dominates the rapidly growing Greek style yogurt segment, but the two big yogurt players, Dannon and Yoplait, are chipping away at their lead. Can Chobani remain independent and in the lead?
Hamdi Ulukaya, a Turkish immigrant, is an billion dollar American success story. Chobani’s payroll has almost doubled in the past year with plants in Idaho and Australia, and more growth is on the horizon. Can the yogurt be that good?
What do you get when you cross a Russian-born tennis star with a gummy candy? Maria Sharapova is betting $500,000 that the answer is a profitable, upscale candy company.
The cigarette industry is watching strict packaging requirements in Australia very closely. The industry fears that new tobacco control measures in Australia are likely to spread to other countries.
Australia now requires cigarette packaging to include graphic anti-smoking images, with no logos and the brand name in a standard font on a drab, dark brown background.
Australia has benefited greatly from China's economic boom, but now may also suffer the consequences of its slowing economy.
Is Australia's economic pain more evidence of China's importance in the world economy?
The U.S. military has sourced $400 million worth of helicopters from an unlikely source: the same Russian military contractor that is arming the Syrian government.
Is it time for a low-cost strategy in the smartphone business? And is a Chinese company best positioned to do that?
Supply chains are being reinvented in order to certify that electronics do not contain minerals whose extraction contribute to the financing of conflict in central Africa.
Saddled with high costs, Qantas has a difficult time competing in the growing Asian market.
A startup's competitions lure PhDs and whiz kids to solve companies's data problems.
North American natural gas prices are half what they were in 2008. A boom in LNG exports could change that.
What should we do to get the U.S. economy going again? Countries as diverse as Germany, Brazil, Singapore, and Thailand can offer ways for the U.S. to shore up its economy.
Although the rates they can charge are regulated, the price of coal is not, putting Chinese power companies in a tough spot.
Can a rainy spring in Saskatchewan contribute to the overthrow of a government in Tunisia?
In drought-stricken Western Australia, a battle for water highlights issues about how social and economic priorities should influence the allocation of this vital resource.
Water from underground aquifers in Australia is being fought over by exporters of agricultural products and iron ore processors.
Should U.S. coal companies be able export more coal and the carbon emissions it will produce?
As U.S. electricity producers shift away from coal, coal producers are seeking export markets where there is less concern over carbon dioxide emissions.
Due to a drought in Russia and floods in Canada and Australia, wheat prices have doubled in the past year. Now the French are seeing increases in the price of baguettes.
Booming demand for steel in developing countries is opening up Canada's Arctic region to iron ore mining.
Is there a future for macroeconomics?
While food may be consumed locally, it is grown worldwide. The price of groceries in the U.S. is directly impacted by the weather in Argentina, Russia, Australia and everywhere else in the world.
The Filipino workforce, well trained in English, is luring call center operations from Bangalore and Gurgaon. Cost-conscious operations managers should take note.
Electricity generated from fossil fuels is starting to lose its price edge over some renewable energy sources. When will it be time for energy producers and consumers to jump on board?
What does Australia get out of its deals with China?
China's booming demand for iron ore is causing opportunities and problems in Australia.
Exports to China have helped Australia escape the global recession. Nonetheless, many Australians are worried.
Brisk demand for minerals has led to a mining boom in Australia. It offers great pay, but you could get killed.
Can Ford make up for lost time in Asia?
Making up for lost time, the Ford CEO is boosting production, as well as investment and marketing, in fast-growing China and India
Yahoo is interested in purchasing companies that bring the Web portal more users
Why do exchange rates change, how are currencies priced, and what are the accounting implications? These are complex questions which accountants must understand in this era of global trade and transfer.
Heightened antitrust action, such as China's no on Coke-Huiyuan, may signal a new approach to protectionism.
A new subsidiary of Hutchison Whampoa, INQ, plans to make ultracheap mobile phones for surfing the Net.