Ryanair looks to improve customer service

BUDGET Irish airline Ryanair, whose chief executive Michael O'Leary has in the past labelled some of his passengers "idiots", has announced a series of measures to improve customer service.

In the past, O'Leary has insisted passengers only care about cheap fares and punctuality.

But in a recent U-turn, the outspoken Irishman said his airline should try not to "unnecessarily piss people off".

On Friday, the airline said that over the next six months it would increase the hand baggage allowance to allow for small ladies handbags, and cut baggage and check-in fees.

Passengers are also to be given a 24-hour grace period in which to change minor errors in their bookings.

O'Leary said the airline was "actively listening and responding to our customers" as it implemented plans to increase its capacity from 80 million passengers per year to 110 million over the next five years.

A survey by the consumer magazine Which? last month rated Ryanair the worst for customer service out of 100 big British brands.

The airline was also forced to apologise and refund a passenger, whose family died in a housefire, after it refused to change his flight and charged him 188 euros ($A270) for a new ticket.

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Permira snaps up UK's Dr Martens

BRITISH boot brand Dr Martens has been snapped up by private equity firm Permira in a STG300 million ($A507.14 million) deal, ending more than 50 years of family ownership.

It means the boots - footwear of choice for generations of skinheads, punks and students - will join a stable of brands which also includes Hugo Boss and New Look.

The Northamptonshire-based Griggs family, who have been making shoes since 1901, will retain control of around 20 per cent of the business.

Dr Martens employs 700 people worldwide, including 350 in the UK, and its products are sold in 63 countries.

The deal, expected to complete in January, will see Permira take control of parent company R Griggs.

Chief executive David Suddens says the brand's authenticity and the millions of customers who have used "Docs" as a symbol of self-expression for over half a century are what makes Dr Martens unique.

"The Permira funds respect that heritage and want to support the management team in nurturing it," Suddens said.

Cheryl Potter, partner and head of the consumer sector team at Permira, says Dr Martens is an iconic brand with a passionate fan base of followers.

Dr Martens has enjoyed a revival in fortunes in recent years as a new generation of stars such as Miley Cyrus, Emma Watson and Agyness Deyn took up the "bovver boots" whose popularity - once espoused by the likes of The Who's Pete Townshend - had been on the wane.

The deal follows reports of the Griggs family looking to exit the business after more than five decades running the brand that last year made STG15.3 million pre-tax profits on revenues of STG110 million, following an abortive sale attempt last year.

Permira is thought likely to try to expand Dr Martens' online and store presence into new international markets.

The Griggs family started producing the Dr Martens boots in 1960 after the development of a revolutionary new air-cushioned sole by the Germans Klaus Martens and Herbert Funck.

It still pays an annual fee to the families of the two men.

Production was moved to Asia, but the original Northamptonshire factory was reopened in 2007 to produce vintage styles.

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Roma family removals probe in Ireland

IRELAND'S police watchdog will review the cases of two Roma families having children removed from their homes amid claims they could not prove their identity.

Two reports have been ordered on the controversial action by gardai and health officials after a seven-year-old girl was taken from her south Dublin home for 48 hours and a two year-old boy from his home in Athlone in the Midlands overnight.

Both children were subsequently proven to be members of the families with the girl returned home after DNA tests.

The police watchdog, the Garda Siochana Ombudsman Commission, said it has not received any complaints but has demanded copies of a report by the Commissioner Martin Callinan.

"We have requested this in order to inform ourselves fully of the circumstances of events so that we can take an appropriate position," a spokesman for the Ombudsman said.

Separately, the Ombudsman for Children Emily Logan will investigate why the children were removed from their families.

She will be furnished with two reports - from Mr Callinan and the Health Service Executive (HSE) - in two weeks time.

Both youngsters have blonde hair and blue eyes while their parents have darker complexions and hair, which is not out of the ordinary in the Roma community.

Amnesty International threw its weight behind calls from one of the families for an independent inquiry.

Colm O'Gorman, spokesman for the organisation in Ireland, said responses to reported child protection concerns needed to be proportionate and non-discriminatory.

"If it is found that the authorities' actions were discriminatory, steps must taken to ensure this is not repeated. There must be a public apology to the Roma families for the wrongdoing.

"The eyes of the world are now on Ireland, and the Government must show institutional discrimination will not be tolerated."

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Spain's unemployment rate falls

THE number of unemployed people in Spain dropped by 72,800 to 5.9 million in the third quarter, pushing the unemployment rate down to 25.98 per cent.

The drop in the number of jobless people in the third quarter, compared to the same period in recent years, was the sharpest since 2005, the National Statistics Institute reported in its Labour Force Survey on Thursday.

Employment rose by 39,500 to 16.82 million in the July-September period, marking the first rise in the third quarter of a year since 2010, with the labour force participation rate hitting 59.59 per cent, the Labor Force Survey said.

The unemployment rate for men in the second quarter was 25.50 per cent, while the jobless rate for women was 26.55 per cent.

The youth unemployment rate - calculated for those younger than 25 - was 54.39 per cent in the third quarter, down 1.75 percentage points.

The number of households with all members of the labour force unemployed fell by 13,400 in the July-September period, but it still stands at a high 1.8 million, the report said.

The Bank of Spain said in its latest economic bulletin Wednesday that the country climbed out of recession in the third quarter, growing 0.10 per cent from the previous three-month period to end a streak of nine consecutive quarters of contraction.

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US employers add 148,000 jobs

THE US economy added just 148,000 jobs in September, suggesting that employers held back on hiring before a 16-day partial government shutdown began October 1.

Still, hiring was strong enough to lower the unemployment rate.

The Labor Department said on Tuesday that the rate fell to 7.2 per cent, down from 7.3 per cent in August and nearly a five-year low.

The economy has added an average of 143,000 jobs a month from July through September, down from 182,000 from April through June.

Revisions to the previous two months were mixed. Employers added 193,000 jobs in August, better than the initial estimate of 169,000. But they added just 89,000 in July, the fewest in more than a year and below the previously reported 104,000.

Stock futures rose after the report was released. The weaker job figures make it more likely that the Federal Reserve will maintain its level of bond purchases when it meets next month. The bond purchases are intended to lower long-term interest rates and boost borrowing and spending.

The jobs report was delayed because of the shutdown, which may have further depressed economic growth and hiring. Temporary layoffs of federal workers and private government contractors will probably lower October's job gains. But that's likely a temporary decline.

Many economists say they won't have a clear read on hiring and unemployment until the November jobs report is released, in early December.

High unemployment has discouraged many Americans from looking for work. The percentage of Americans working or looking for work remained at a 35-year low in September.

There were some positive aspects in the latest jobs report. Several higher-paying industries added jobs at a healthy pace. Construction firms gained 20,000 positions. Government boosted payrolls by 22,000. Transportation and warehousing gained 23,400 jobs.

And average hourly pay ticked up three cents to $US24.09. In the past year, hourly pay has increased 2.1 per cent, ahead of the 1.5 per cent inflation rate.

The deceleration in job growth was a key reason the Fed decided in September to hold off on slowing its $US85-billion-a-month ($A88-billion-a-month) in bond purchases. The lack of clean data could lead the Fed to push off any decision on the bond purchases until 2014.

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US employers add 148,000 jobs

THE US economy added just 148,000 jobs in September, suggesting that employers held back on hiring before a 16-day partial government shutdown began October 1.

Still, hiring was strong enough to lower the unemployment rate.

The Labor Department said on Tuesday that the rate fell to 7.2 per cent, down from 7.3 per cent in August and nearly a five-year low.

The economy has added an average of 143,000 jobs a month from July through September, down from 182,000 from April through June.

Revisions to the previous two months were mixed. Employers added 193,000 jobs in August, better than the initial estimate of 169,000. But they added just 89,000 in July, the fewest in more than a year and below the previously reported 104,000.

Stock futures rose after the report was released. The weaker job figures make it more likely that the Federal Reserve will maintain its level of bond purchases when it meets next month. The bond purchases are intended to lower long-term interest rates and boost borrowing and spending.

The jobs report was delayed because of the shutdown, which may have further depressed economic growth and hiring. Temporary layoffs of federal workers and private government contractors will probably lower October's job gains. But that's likely a temporary decline.

Many economists say they won't have a clear read on hiring and unemployment until the November jobs report is released, in early December.

High unemployment has discouraged many Americans from looking for work. The percentage of Americans working or looking for work remained at a 35-year low in September.

There were some positive aspects in the latest jobs report. Several higher-paying industries added jobs at a healthy pace. Construction firms gained 20,000 positions. Government boosted payrolls by 22,000. Transportation and warehousing gained 23,400 jobs.

And average hourly pay ticked up three cents to $US24.09. In the past year, hourly pay has increased 2.1 per cent, ahead of the 1.5 per cent inflation rate.

The deceleration in job growth was a key reason the Fed decided in September to hold off on slowing its $US85-billion-a-month ($A88-billion-a-month) in bond purchases. The lack of clean data could lead the Fed to push off any decision on the bond purchases until 2014.

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Aust stocks lag behind US

DESPITE the relative strength of the economy, Australia's top stocks have lagged behind their US counterparts over the past five years, research shows.

A report by Boston Consulting Group (BCG) shows Australia's top 200 companies have delivered an average total shareholder return - which includes dividends and gains in the value of the stock - of 3.3 per cent in the past five years.

By contrast, the top 500 companies in the US delivered an average return of 6.9 per cent.

Australian companies have performed better in the past two years, with an average return of 7.2 per cent, but still lagged behind their US counterpart, which achieved an average return of 12 per cent.

That's despite the Australian economy performing significantly better than the US since the start of the global financial crisis.

But with economic growth expect to slow due to waning mining investment, BCG corporate development leader for Australia Nick Glenning said local companies will find it even harder to deliver solid gains to investors.

"Many companies will need to rethink their strategies and find new ways to achieve growth. Without fresh approaches to their growth dilemma, management will come under increasing pressure and demand for change from investors," he said.

But the report found a number of Australian companies had performed well ahead of the pack over the past decade.

The strongest performer was REA group - owner of websites including realestate.com.au, which has delivered an average return of 61 per cent a year.

Other strong performers included engineering firm Monadelphous and oil and gas services provider Mermaid Marine, both with an average annual return of 39 per cent, and vaccine maker CSL, with an average return of 34 per cent.

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Tellabs agrees to be sold for $US891m

COMMUNICATIONS equipment maker Tellabs has agreed to be acquired for $US891 million ($A924 million) by investment firm Marlin Equity Partners.

The deal announced on Monday calls for Marlin to buy all of Tellabs shares for $US2.45 each. The stock had closed at $US2.35 on Friday, and rose 12 cents, or 5.1 per cent, to $US2.47 in premarket trading

A tender offer is expected to begin by November 1. The deal is expected to close during the fourth quarter. It requires at least half of Tellabs' outstanding shares to be tendered.

Tellabs chairman Vince Tobkin said the board decided to sell after looking at its options and after contacting more than 30 potential buyers. Tellabs is based in Naperville, Illinois.

Marlin Equity Partners partner Nick Kaiser said plans include making "significant investments in research and development" at Tellabs.

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Victorian fire trucks set for upgrades

MORE Victorian fire trucks are being upgraded to protect crews from unexpected burnovers.

Seventy-four CFA upgraded trucks will be ready for this fire season, with equipment such as fire protective curtains and panels, water-spraying systems and an improved intercom service.

Another 130 tankers will be refitted by June 2014, the government said on Tuesday. The vehicles will still be used this summer.

It will bring the number of upgraded CFA tankers to 1048.

"While we hope fire crews across Victoria are never trapped in their tanker during a burnover, we want to ensure volunteers on the front line are better equipped to safely take shelter in CFA trucks," Emergency Services Minister Kim Wells said.

The program only applies to trucks built before 2006 as later models already have crew protection systems installed.

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NAB lags in business customer satisfaction

NATIONAL Australia Bank has dropped to the bottom of the pack for satisfaction levels among business customers.

A monthly survey of satisfaction among the big four's business clients shows NAB stuck alone in last place, despite being Australia's largest business lender.

NAB had an average satisfaction rating of 7.0 in September, while Commonwealth came out on top with a rating of 7.6, according to the DBM Consultants' Business Financial Services Monitor (BFSM).

Westpac was ranked second with a rating of 7.5.

ANZ, which was previously tied with NAB, moved up to third after recording its highest ever rating in the four year history of the survey - 7.2.

DBM Consultants Director Maria Claridad said ANZ had been improving its satisfaction rating during the past few months.

The bank had experienced the biggest improvement in the micro-business category, thanks in part to its new focus on start-up businesses, she said.

"ANZ's pledge to focus on start-up businesses, which was announced in April, may be helping them continue the improvements that they started to see in July of last year," she said.

The BFSM is based on interviews with 20,000 businesses a year.

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Poll conclusion lifts all states: CommSec

WESTERN Australia remains the top performer but the fortunes of all the states and territories are expected to improve, following the election of a new federal government.

Commonwealth Securities' quarterly State of States report says there's been no slippage in WA's number one ranking and the ACT continues to hold the second spot.

But there is now little separating the Northern Territory, Queensland, NSW and Victoria, before a gap to South Australia and a further gap to Tasmania, which lags on all economic criteria.

Each quarter CommSec uses eight key indicators to rank the states and territories - economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.

But CommSec chief economist Craig James says all economies should lift now that the uncertainty of the federal election is finally out of the way.

"While a slowdown in mining investment will affect some regions, this will be offset by a lift in residential building," he says in the report released on Monday.

"NSW, Western Australia, Queensland and ACT are expected to benefit most from a lift in home building."

In the latest assessment, WA leads the way on retail trade, is second strongest on economic growth, business investment, construction work done, housing finance and population growth, and finished third on unemployment and fourth on dwelling starts.

The ACT's main strengths are in housing and population growth, while the NT finished first in economic growth and construction work done.

There is still little separating the nation's three largest Queensland, NSW, and Victoria.

Queensland is strongest on business investment, NSW is strongest on unemployment, and Victoria is second on unemployment and third strongest on housing finance.

South Australia is middle ranking on construction work and fifth on housing finance, but is sixth or seventh on every other indicator.

Tasmania remains locked at the bottom of the economic performance table, lagging all other economies on all of the eight indicators.

However, Mr James said firm wages growth and improved housing affordability on the island state is being reflected in a lift in retail spending.

"If this leads to increased employment then there will be potential for stronger economic momentum in coming months," he said.

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Australia 'must do better in Antarctica'

AUSTRALIA is in danger of having to mothball research projects in Antarctica because of its shrinking budget, a new study warns.

The Australian Strategic Police Institute (ASPI) paper says Australia claims 42 per cent of Antarctica, an area the size of all Australia less Queensland, with an overall budget of just $169 million in 2013-14.

That was an eight per cent reduction on the previous year.

"A continued downward trajectory in budget allocations might well lead to closure or mothballing of stations, reduced scientific gains and a diminished standing in Antarctic affairs, it says.

Australian researchers can't visit much of the Australian Antarctic Territory (AAT) because of shortage of equipment such as ski-equipped aircraft.

The air link from Australia to Antarctica is unreliable even in mid-summer while the icebreaker Aurora Australis is approaching end of life.

The paper says the politics of Antarctica are starting to heat up.

One UK analyst Professor Klaus Dodds has warned of looming crises over sovereignty claims, commercial fishing, tourism, the rise of China and mineral exploitation.

ASPI said if that was to be believed, Australia could see a breakdown of the Antarctic Treaty, our territorial claim disputed, rampant illegal fishing, irreparable environmental damage and a rush for oil, gas and minerals.

"When it comes to our interest in Antarctica, Australia had better use it or we risk losing it in what will be a more competitive strategic world in coming decades," it says.

"The credibility of our claims will erode in lockstep with the erosion of our capacity to service our research stations by sea and air."

On the plus side, the new coalition government has promised it will develop a 20-year strategic plan to address how Australia can remain, engaged, active and visible.

ASPI said Australia should be an Antarctic leader not a follower.

"If we're fair dinkum about pursuing Antarctic interests, we need to be active in Antarctica. But our present capability means we can't match what others are doing in our territory, let alone lead," it said.

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