EDITORS' PICKS

Aussie media's awkward Murdoch truth
Alan Kohler
The Murdoch saga shows media competition doesn't lead to more responsibility, but less. That's why a public inquiry into Australia's media would be a waste of time – but a closer look at News Corp is still warranted.

News Corp's paper sacrifice
Robert Gottliebsen
As Rupert Murdoch sees an irreversible weakening in his hold over News Corp, there will be little to stop the company selling off its relatively unprofitable and potentially toxic global newspaper assets.

Cutting away from the RBA
Robert Gottliebsen
The push from Westpac's Bill Evans for rate cuts is an important move towards stabilising the non-mining economy, but it's time Treasury and the RBA paid more attention.

Is Murdoch all tapped out?
Stephen Bartholomeusz
The UK parliamentary hearing has revealed a diminished Rupert Murdoch hovering over an organisation with cultural and governance problems – but investors will struggle to get accountability for it.

BHP's gas play ticks all the boxes
Stephen Bartholomeusz
The Petrohawk purchase is a major step-change in the size of BHP Billiton's oil and gas interests. And the giant's vast resources will give it a huge advantage over the sector's smaller players.

Will the US doff its debt cap?
Karen Maley
Until now, bond markets have assumed US politicians will reach a last-minute deal to raise the country's debt ceiling and avoid default. But time is quickly running out.

Staring down Europe's debt divide
Karen Maley
Ahead of an emergency summit on Greece's debt crisis, it seems the only thing eurozone leaders can agree on is that all previous attempts to rescue the country have failed.

Has Turnbull killed the NBN star?
Rob Burgess
The Coalition's new broadband plan knocks over two main advantages of the government's NBN. 'Almost as good, but for less money' will be Turnbull's pitch.

Two fears holding Australia back
Rob Burgess
It's unlikely Tony Abbott will bow to party pressure to tighten IR policy. But in this case, as with Gillard's climate plan, populism may not be the best path.

TECHNOLOGY SPECTATOR: Retail therapy's group failure
Charis Palmer
Group buying sites have proven popular with consumers, but retailers also have to benefit. So far, the majority of Australian retailers see coupon resurgence as more of a distraction than a boon.

The taste of cannibal capitalism
Christopher Joye
Lawrence Summers must be kidding if he thinks big banks should be bailed out without question. If risk responsibility keeps being transferred, we will eventually eat away at the heart of capitalism itself.

Is the carbon tax Gillard's GST moment?
Natasha Stott Despoja
It's hard to imagine, given Labor's recent polling lows, but the government's carbon tax may yet have the same electoral impact as the Coalition's GST did in 2001.

Paying dearly for European insanity
Oliver Marc Hartwich
Europe's political elites have long been plagued by denialism, but now their stubborn utopianism threatens to bring the global economy to its knees.

When media gods fall to earth
Christopher J Tipler
How did News Corp, which had all the hallmarks of good governance, develop a toxic culture? Rupert Murdoch's Zeus-like mantle of both chairman and chief executive is one reason.