KBB Morning Snapshot

November 12, 2012, 9:13 am Kochie's Business Builders Yahoo!7

Time Wasting Costs Aussie Businesses $87b ~ RBA Forecasts Weaker Growth ~ Apple Clocked for $21m

KBB Morning Snapshot
Time Wasting Costs Aussie Businesses $87b

New research shows that Australians are getting more productive in the workplace but wasted time continues to suck $87 billion out of local businesses every year.

The Ernst & Young Australian Productivity report, out today, found that time wasted at work has fallen by 4% over the past 12 months with 4 out of 5 workers taking productivity ‘very seriously’.

But the bludgers among us, who account for about 5% of the workforce, make up for over 20% of time wasted during the day.

RBA Forecasts Weaker Growth

On the back of last weeks surprise decision to leave interest rates on hold the Reserve Bank has released commentary around the softening economic outlook, now tipping growth of 3% in 2013. Previous estimates were for a 3.75% increase in GDP.

“The downward revision to mining investment reflects the effect of the recent decline in bulk commodity prices on mining companies' cash flows and their plans for spending,” the RBA’s quarterly statement says.

And part of that is due to the government’s insistence on running a budget surplus, the bank says. “The Australian government's fiscal consolidation appears to be weighing on growth over the second half of the year.”

Apple Clocked for $21m

Computer king Apple has reportedly paid out Swiss national rail operator SBB $21 million after the company claimed Apple had ripped off the railway’s famous clock design.

The plain, numberless black and white clock face with a red second hand has been used by the railway company for almost 70 years, with the design exclusively licensed to SBB. Not any more though it seems.

But it looks as though Apple’s just living up to their idol Steve Jobs, who once noted that “good artists copy, and great artists steal.”