Property bargains galore, but take care
Property watchers are dubbing it a buyer’s market. Sales are down; listings are up; and prices are negotiable. For some, that’s an opportunity, but buyers also have plenty of reasons to sit and wait.
It’s tough being rich
What torment comes unbidden and unwanted to the very rich late at night? Surprisingly, it’s not all about the money, Fiona Carruthers and John Stensholt write.
Shares end week back in black
The Australian sharemarket ended the week on a strong note, energy companies leading the charge as investors turned to corporate earnings, soaring commodity prices and signs favouring a global recovery.
$A punches towards $US1.08
Updated | A stronger-than-expected jump in producer prices and a weak US dollar helped the Australian dollar soar through $US1.07 and consolidate gains heading into the weekend.
The final bill is about to land with a thud
The see-sawing financial markets are poised to precipitate global havoc as rising sovereign debt and uneven growth herald another crisis.
BHP: the giant you have to hold
BHP Billiton has vaulted up to fourth on the list of the world’s largest companies and is firmly established in the global elite.
Last Mariner standing
Bill Ireland is battling to stave off bankruptcy at Mariner Financial but remains surprisingly upbeat about the future, writes Colleen Ryan.
A cry for help from the boardroom
With boards under growing pressure from shareholders and the courts, Kevin McCann and Bob Austin discuss the way ahead.
Visit to test Gillard’s skills in diplomacy
Julia Gillard’s visit to Washington was easy compared with the task she faces next week in Beijing, where she must negotiate a much more complex relationship with Australia’s largest trading partner.
Why we all need Will and Kate
The media are set to dine out on the royal wedding – and maybe there’s comfort there for many of us, writes Deirdre Macken.
Financial Review TV
The Next Big Thing
Smaller companies are usually the go for super-charged returns, but right now is a great time to invest in the country's largest telco, Client Asset Management’s John Albernethy says.
One-line Tony’s opposition
The federal election last year gave Tony Abbott solid reserves of political capital, but murmurs of discontent are starting to be heard.
Business school ... of rock!
A little rock and roll with your bottom line? A peek at what’s loaded on some CEO iPods reveals eclectic tastes.
Great news for bowel, what about brain?
Many executives work well into their later years with the sometimes flawed assumption that if their body is holding out, their mind is too.
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Banks’ days in the sun numbered
Heading into the bank profit season, the forecasts are for generally clement weather. But weather is not climate.
Getting farm policy wrong
Does Australia get its farm policies right? Usually yes, but not as often as we should.
It may be time to buy Regional Express
Regional Express Holdings is expecting to record a net profit of $17.1 million in 2010-11. The guidance needs to be put in perspective.
Credit Suisse poaches McLean
Credit Suisse has poached Mark McLean from Detusche Bank to head the Australian investment banking arm’s financial institutions group as MD.
Multinationals underpin share prices
Strong earnings from companies with global footprints, such as Apple, Intel and IBM, is a key reason why both the Dow Jones and S&P 500 are proving so resilient.
This is not the year to ‘sell in May’
When I was asked this week where I sat with “sell in May and go away”, it got me thinking. Is this just a trader superstition or something that’s steeped in logic?
Smarter if we had more engineers
Along with other anglo economies, governments here paid lip service to engineer numbers, but data shows we are increasingly reliant on migrants.
Shadow boxing but punch-drunk anyway
What passes for a debate on the carbon tax is a conspicuous example of how politicians and the media are investing more in politicking than it deserves.
Buyers shrug off Leckie ‘endearment’
They determine the fate of more than $2.5bn of TV advertising each year but according to Seven chief executive David Leckie, they are “f---wits”.
Super trustees reject compulsory levy scheme
SMSF trustees have rejected calls for a levy scheme that would compensate members if an investment fund collapsed because of fraud or theft.
Pushed to the limits
Making contributions to super, especially those that enjoy tax concessions, is popular at the end of each financial year.
Times are changing but US still cautious
Dave Marvin is an unabashed growth investor who makes judgements on global equities based on the momentum of markets and stocks.
A Ponzi scheme ready to pop
Markets have all the characteristics of a giant Ponzi scheme and it’s only fresh money that is buoying portfolios stuffed full of old money.
Yuan could rise 7pc to 8pc
The yuan could appreciate 7 per cent to 8 per cent this year, driven partly by rising imported inflation and rapid export growth, according to research by Guoxin Securities.
Investors shrug off S&P US credit warning
There was an understandable but comical reaction on financial markets this week to news of a credit rating downgrade from Standard & Poor’s.
Those warnings about women recycled yet again
The outcry over the role of women in the defence forces has a familiar ring
McDonalds on a US hiring rampage
The hamburger giant plans to hire 50,000 in one day next week, but will they be good jobs?
Let’s be clear: it’s all about transparency
Property fund managers should have learnt one lesson from the GFC: “The best managers lost as little as possible and as transparently as possible.”
Get online – or off the map
Easter is a great time for exploring places that you tend to overlook at other times.
Stoked on ego-surfing: it’s all in a name
Having celebrated the 50th Alan Stokes column for this newspaper last Saturday without a word spoken, it’s probably time I introduced myself.
World Indices
| S&P;/ASX 200 | 4,913.8 | + 54.8 | + 1.13% |
| ALL ORDINARIES | 4,995.7 | + 55.5 | + 1.12% |
| S&P;/ASX 100 | 4,005.9 | + 44.0 | + 1.11% |
| SMALL ORDS | 2,852.8 | + 33.8 | + 1.20% |
| Dow Jones Industrial | 12,505.99 | + 52.45 | + 0.42% |
| S&P 500 | 1,337.38 | + 7.02 | + 0.53% |
| NASDAQ | 2,820.16 | 0.00 | 0.00% |
| Wilshire 5000 | 14,153.97 | + 80.83 | + 0.57% |
| FTSE 100 | 6,018.30 | - 3.96 | - 0.07% |
| CAC 40 | 4,021.88 | + 17.26 | + 0.43% |
| SMI | 6,457.16 | + 12.35 | + 0.19% |
| DAX | 7,295.49 | + 46.30 | + 0.64% |
| HANG SENG INDEX | 24,138.31 | + 242.21 | + 1.01% |
| STRAITS TIMES | 3,194.73 | + 28.93 | + 0.91% |
| Nikkei 225 | 9,682.21 | - 3.56 | - 0.04% |
| SSE COMPOSITE/d | 3,010.52 | - 16.15 | - 0.53% |
Currencies
| AUD | USD | EUR | JPY | GBP | |
| AUD |  |
1.0733 | 0.7365 | 87.97 | 0.6494 |
| USD | 0.9314 |  |
0.6862 | 81.95 | 0.6053 |
| EUR | 1.3572 | 1.4570 |  |
119.40 | 0.8816 |
| JPY | 0.0114 | 0.0122 | 0.0084 |  |
0.0074 |
| GBP | 1.5392 | 1.6523 | 1.1339 | 135.42 |  |
Hundreds farewell ‘solitary’ Ruehl
Peter Ruehl lived a solitary life, writing in his eyrie attic at home at Clovelly with little idea of the impact of his columns.
Losing battle of Hastings St
Easter, even a good Easter, will be too late for some retailers on the prime Hastings Street strip in the Sunshine Coast resort of Noosa.
Fey accompli
Tina Fey has written a book, become a huge inspiration to women in comedy and is very rich.
Church feels pinch
At Easter, churches stock up on altar bread and wine, but the holy sacraments are being buffeted by the wine glut and the global grain price surge.
Collins St crush makes trams a top end priority
With Docklands filling up, services aren’t keeping up with demand on a key strip.
Timely recovery of lost war medal
A Victory Medal has been reunited with the family of a World War I soldier after more than 58 years.
Resources Daily
Origin locks Sinopec into $90bn LNG deal
Updated | Origin Energy has converted its huge deal to sell liquefied natural gas from its Australia Pacific LNG project to Sinopec into a binding agreement thought to be worth about $90 billion.
Caltex keeps refineries, but fuels talk of closures
Caltex Australia is sticking by its two refineries in Sydney and Brisbane despite Royal Dutch Shell’s decision to close one of its plants, but chief executive Julian Segal has warned further closures cannot be ruled out.
Dealbook
Blackstone expands into Istanbul, Moscow
Blackstone Group has established a beachhead in Moscow as the private equity and real estate giant looks for opportunities around the globe to invest its billions of dollars of “dry powder”.
UBS names Knight as global metals group chief
UBS has named Paul Knight as the global head of its metals and mining group, the Swiss investment bank announced in an internal memorandum obtained by The New York Times.
Life & Leisure
A burst of local flavour
An emphasis on regional produce and fresh fare is lifting Byron Bay’s restaurant scene.
Mini Countryman: the long of the short of it
The designers of the new Mini – or, one suspects, the marketers – have sought to copy Porsche and stretch a classic shape over a bigger package.
Review
Climate’s unthinkable costs
It’s not that we can’t envisage the effect of global warming, we just don’t want to.
The empathic Mr Vonnegut
The author’s understanding of human strength and weakness is on display in newly released late writing
National
Producer prices jump 1.2pc
Australia's producer price index at the final stage of production rose 1.2 per cent in the March quarter, for an annual rise of 2.9 per cent, the Australian Bureau of Statistics has reported.
Asylum seekers torch buildings at Sydney’s Villawood
Updated | Immigration officials have said the department has brought wild riots that sparked a fire and explosion at Sydney’s Villawood Detention Centre under control.
Business
ACCC toasts Cellarmasters deal
Updated | A team of competition lawyers ensures safe passage of the Woolworths-Cellarmasters deal by the competition regulator at a time of increased scrutiny of retail sector consolidation.
Minmetals takeover offer rocks Equinox
Equinox Minerals has postponed a shareholder meeting to vote on the $C4.8 billion takeover of Lundin Mining for a second time since receiving a takeover offer itself from China’s Minmetals Resources.
Markets
$A punches towards $US1.08
Updated | A stronger-than-expected jump in producer prices and a weak US dollar helped the Australian dollar soar through $US1.07 and consolidate gains heading into the weekend.
For Wall Street, first positive week in three
Updated | US stocks posted their first positive week in three as more healthy earnings news lifted Wall Street on Thursday, though gains were limited with another 180 S&P names due to report next week.
Street Talk
Woodside takeover speculation reignites
The market was alive with chatter on Thursday afternoon that BHP Billiton was planning to use the five-day Easter long weekend to reach a decision on Woodside.
Macquarie cuts down Coles
Macquarie has cut Wesfarmers to ‘underperform’ following Coles’ first quarter sales, saying the stock is too expensive.
Property
Blackstone expands into Istanbul, Moscow
Blackstone Group has established a beachhead in Moscow as the private equity and real estate giant looks for opportunities around the globe to invest its billions of dollars of “dry powder”.
Yuan could rise 7pc to 8pc
The yuan could appreciate 7 per cent to 8 per cent this year, driven partly by rising imported inflation and rapid export growth, according to research by Guoxin Securities.
World
Obama says US will probe oil market for fraud
President Barack Obama sasy the US attorney general is assembling a team to root out any fraud and manipulation in the oil markets that may be contributing to higher US petrol prices.
Tough start to year for US airlines
The first quarter is always weak for airlines but this one was especially difficult as fuel prices spiked and unrest in the Middle East and the earthquake in Japan cut demand for international flights.
Personal finance
Leading economists see tricky conditions ahead
Floods are expected to put a dent in economic growth during the March quarter, and it’s probably not going to be plain sailing for the rest of the year. Four leading economists share their outlook for the coming months.
Want to be a millionaire? Then start saving
In the novel David Copperfield, by Charles Dickens, the character of Wilkins Micawber makes a characteristic speech about spending and income.
DIYSuper
Cavendish launches specialist course for SMSF advisers
Administration firm Cavendish has joined forces with The University of Adelaide to create a course aimed at improving the skills of a range of advisers, including financial planners, paraplanners and stockbrokers, who service self-managed superannuation funds.
Super trustees reject compulsory levy scheme
SMSF trustees have rejected calls for a levy scheme that would compensate members if an investment fund collapsed because of fraud or theft.
Technology
Allen opens up on Gates hell
Microsoft co-founder Paul Allen may have pocketed billions of dollars from his time at the technology titan but says money doesn’t make up for the angst and anger of those years.
Does Apple have too much cash?
“Excessive,” “untenable,” simply “ridiculous” - those are some of the words analysts are using to describe Apple’s gigantic cash pile of $US65.8 billion. It’s the mother of all war chests.
- Nokia sales rise but market share loss accelerates
- NextDC picks Perth for expansion
- Samsung vows counter-action over Apple suit
- Former Google chief’s salary up from $US1 to $US1.25m
- ‘Inflexible’ copyright laws harm Aussie e-commerce
- Apple to book Brisbane space
- Telecom NZ and Vodafone secure broadband gig
- Cyber attack fears on the rise: study
Marketing & Media
Wheels turn for Murdoch move on F1
News Corp is in talks about forming a consortium to take control of Formula One motor racing.
Trade Me sticks to knitting as float speculation swirls
An executive at New Zealand's biggest online auction website says that it can't comment on reports that parent company Fairfax may "float" a stake in its Trade Me subsidiary.
Lifestyle
Barefaced beauty
Paring back finishes allows architects to show off the structure of their creations.
Dessert wines: liquid gold
Easter is when many winemakers sacrifice some of their crops to turn them into naturally sweet, luscious wines.
Farm living: Mornington Peninsula, Victoria
Venture capitalist Charles Kiefel is selling his 52-acre Mornington Peninsula farmlet in Victoria.
