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Profiles James Murdoch, son of Australian media mogul Rupert Murdoch. Opinion that James is better qualified than siblings Lachlan and Liz to inherit their father's media empire, News Corp.; James' false starts in handling business; Quitting Harvard University to establish music company; Immersion in digital media culture; James as executive vice-president at News Corp. INSET: Deal-maker makes a name for himself, by Barbara Biggs..

Discusses the `BRW' magazine's survey of fund managers' opinions regarding Lachlan Murdoch's capability to manage his father Rupert Murdoch's Australia-based media company News Corp. Impact of the Murdoch family's presence on the company's financial performance; Job performance of Lachlan. INSETS: Just who is the chosen one?;Memo Lachlan: You have mail.;Dr Moose on the loose at News.;Get me to the board meeting on time.

Presents information on business and related topics for Australia as of March 1999. Janet Holmes a Court's plans for the struggling John Holland construction group; Week in review; Calendar of cultural events; Gina Rinehart and her stepmother Rose Porteous to return to court over assets belonging to Hancock Prospecting; Other information. INSETS: Good intent saves tax bill, by Michael Laurence;Fair play is better business, by Pru Goward.

Presents information on the state of investment in Australia by overseas Chinese as of May 1999. Robert Kuok's investment in the apartment block, The Peak, in Sydney, New South Wales; Impact of the 1998 Asian financial crisis; How investment began to grow due to the surplus of commercial property that emerged in the recession of 1991-1993.

Reports that wealthy investors in Australia accumulated their money over a long period by concentrating on blue-chip companies. Big four banks in portfolios of investors; Exposure of wealthy investors to new technology; Typical `millionaire' portfolio composed of shares listed in the top 150 listed companies.

Highlights the Expressobus, a business diversification scheme of Juan Renshaw, coffee shop owner. Revenues for 1998; Design of the van; Target markets; Problems encountered by Renshaw; Goals and plans for the Expressobus.

Reports that the proposed sale of Ansett Australia's inflight catering operations may provide an opportunity for further business for Creative Packaging, a small contract packaging company based in Sydney, New South Wales. Contribution made by the Ansett business to the packaging firm's revenue; Sectors covered by Creative Packaging's business; Financial performance of the company in 1997.