Business stories of interest this week

Business stories from the past week, compiled by Jason Maywald:

  1. Bunnings UK hits road bump

Aussies have a soft spot for Bunnings. Don’t try to deny it. Its big dusty aisles give us a good feeling. You go there to buy a few bits of wood and a box of screws and you come home with sauce stains on yourself but feeling slightly better for the experience.

So when Bunnings announced its plans to take over the world, we were all quietly proud. Wesfarmers – the owner of Bunnings – bought up 250 stores in a UK Hardware chain called Homebase, and began slowly turning them into its Bunnings branded outlets.


2. Retailers slow to follow consumers into mobile commerce

A Paypal survey has revealed that Australian companies risk missing out on millions of dollars in sales by failing to embrace mobile commerce as quickly as their customers.

Paypal Australia managing director Libby Roy says there is a disconnect between the level of consumer interest in mobile shopping and the commitment by Australian retailers to invest in mobile-optimised sites.


3. NAB, Westpac and CBA team up with new payments app, Beem

Three of the country’s banking giants are joining forces to allow instant payments between people or to small businesses via a smart phone, with plans to ultimately roll out a cross-industry “digital wallet.”

Commonwealth Bank, National Australia Bank and Westpac will by the end of this year launch a mobile app aimed at allowing payments such as splitting a restaurant bill, or paying a tradesperson.


4. How to make extra cash over christmas 

If you’re looking to earn some extra cash this Christmas, then it’s time to get your skates on.

Retailers, restaurants, bars and entertainment venues have already started hiring for the festive season, and many of the bigger employers will close off their applications process in the next two weeks.


5. Fox terminates Ten network deal

Ten Network shows The Simpsons and Modern Family have disappeared from the broadcaster for good after program supplier 21st Century Fox ripped up the $376.8 million deal.

A letter of termination has been issued by Fox, with the move effective already after Fox programs were hastily pulled off air three weeks ago after negotiations between the network and Fox broke down.