Abbott to reveal costings ‘soon’ as PEFO shows few changes
Federal election live | ■ Abbott says trust in PM has been ‘trashed’ ■ PEFO budget forecasts barely changed from government’s last update ■ Rudd announces $30m community services sector jobs fund ■ NAB’s Clyne hopes for majority government
Stockland profit dives on residential woes
Updated | Listed property developer Stockland has reported a steep fall in statutory profit to $104.6 million for the year ending June 30 on the back of weak housing market conditions.
Domino’s to take $280m slice of Japanese market
Domino’s Pizza Enterprises has announced a $280 million push into the Japanese market as it buys 75 per cent of Domino’s Japan – the company’s biggest ever acquisition.
Results wrap | Domino’s Pizza profit up, Stockland down
Reporting season live ■ Amcom profit climbs 23pc ■ Domino’s Pizza profit up ■ Stockland slides ■ Bradken FY down ■ Reckon NPAT rises. Other companies due to report today are ■ REA Group ■ Southern Cross Media.
ASX steady as threat of Greek bailout looms
The ASX was steady on Tuesday after mixed results on markets in the US and Europe while the concern of another Greek bailout loomed.
ASIC dark pool rules hit investment banks
The Australian Securities and Investments Commission has imposed tough new rules on investment banks in a bid to prevent market manipulation in secretive trading venues known as “dark pools”.
$A eyes US93¢, but don’t expect it to last
The United States dollar has been one of the world’s worst-performing currencies in the past week and its rout could push the Australian dollar as high as US93¢ in the coming days.
Another Greek bailout looks certain
As the economy of Greece contracts further into recession and its government fails to deliver the stringent reforms that Europe wants, even Germany seems to have accepted the need for another bailout.
NAB’s new trick for opening accounts – no humans required
National Australia Bank is poised to issue a new customer account that is applied for, verified and originated without any human interaction.
BlackBerry may put itself up for sale
Canadian smartphone maker BlackBerry is looking at options that could include joint ventures, partnerships or a sale of the company as it struggles to survive against stiff competition.
Macquarie launches China economic index
Macquarie Group has launched a new index tracking China’s economy, as the investment bank’s analysts reportedly advise financial markets may be judging the country on inaccurate data.
Candidates begin to line up for IPOs
The blockage in the pipeline for local initial public offerings is easing, but there are at least 12 float candidates trying to raise as much as $3.7 billion before year’s end, if conditions are favourable.
McGrath fears property market running too hot
Even John McGrath, Sydney’s most prominent real estate spruiker, is concerned the nascent real estate boom spurred by low interest rates is at risk of overheating.
Seven apps to aid your working life
Make your working life easier with these fabulous apps that aid productivity, keep you in touch with your networks and help you arrange your travel.
Prime Media ripe for the picking: Credit Suisse
Credit Suisse thinks Prime Media Group is a prime takeover target following the sale of its non-core Queensland radio business.
Fifty Shades author tops highest-paid list
The British writer who became a sales phenomenon took an estimated $US62 million according to Forbes magazine.
Apple shares lifted by iPhone launch speculation
Apple shares have gained ground after a report saying the California tech giant is set to announce its next iPhone at an event September 10.
Samsung Galaxy Tab gets the chippy slap
The Samsung Galaxy Tab 3 10.1 is a wee slip of a tablet but its Atom processor and screen aren’t up to speed with its modern-day counterparts.
NY regulator in Bitcoin subpoena blitz
New York's top banking regulator has issued subpoenas to 22 companies associated with virtual currencies such as Bitcoin.
Pay rises – is it time to say goodbye?
A slowing economy could boost the case for a tight rein on wages, but a weaker Australian dollar may be the friend of cash-strapped workers.
Can George Clooney’s chin bring back 3-D?
Are there any thrills left in what was supposed to be Hollywood’s medium of the future – 3-D?
Melbourne cyclists angry over path closure
Melbourne cyclists have to choose between a narrow unlit track or busy arterial roads after one of the city’s busiest cycling arteries was closed.
Sandberg sells $US100m of Facebook stock
The number two executive at Facebook, Sheryl Sandberg, has sold $US91 million worth of the company's stock, according to US securities filings.
Reawakening breakfast TV
Adam Boland has the challenging job of boosting the profile of Ten Network’s early morning slot which has lagged rivals Seven and Nine.
Essendon penalty decision looms
AFL club Essendon will target AFL executives if it takes court action following a decision about the club’s injecting regime due this week.
National
Heat on Abbott to defuse costings attack
The Coalition will try to defuse Labor attacks over its refusal so far to disclose detailed policy costings by releasing this week a fully costed paid parental leave policy and a statement explaining the “comprehensive” processes it has used to cost other policies.
- Labor, Coalition promise at least $17bn for infrastructure
- Leaders’ aged care comments shock sector
- McGrath fears property market running too hot
- Hird defiant as AFL charges loom on drugs scandal
- Write-downs likely to squeeze executive bonuses
- Wind, solar replacing coal generation: AEMO
- ATO bid to lure trust abusers into open
- Industries feeling wage pressure
Opinion
Greece’s troubles are not over
Despite the European summer’s sense of normality, the austerity measures enforced on Greece as part of the bailouts don’t seem to be working.
Three advantages of the new wireless standard 802.11ac
The latest, greatest local wireless standard was certified a few weeks ago. Known as 802.11ac, it offers three key advantages over 802.11n wireless gear.
Fair Work Act should promote co-operation
Unemployment is rising and our workplaces – and forces – are changing, but business must remain flexible to commercial pressures. This is why we need labour laws that encourage dialogue, not friction.
World
US posts $US98bn budget deficit in July
The United States ran a budget deficit in July, although government revenues increased from a year earlier due to tax hikes and a strengthening economy, a report from the Treasury showed.
- BlackBerry may put itself up for sale
- Euro economy ‘a bit better than we thought’
- Greek economy slumps 4.6pc in second quarter
- Mexico proposes energy reform, not as far-reaching as hoped
- SAC Capital closes a trading unit
- Fifty Shades author tops highest-paid list
- Leveraged exchange traded funds amplify index swings
- US watchdog subpoenas metals warehousing firm
- Fonterra tainted milk scare affects all NZ exports, PM says
Europe’s banks must cut €3.2tn of assets
New regulations – called Basel III – will force Europe’s banks to increase available capital and reduce their assets by 2018 to prevent state bailout in the event one fails.
Business
Results wrap | Domino’s Pizza profit up, Stockland down
Reporting season live ■ Amcom profit climbs 23pc ■ Domino’s Pizza profit up ■ Stockland slides ■ Bradken FY down ■ Reckon NPAT rises. Other companies due to report today are ■ REA Group ■ Southern Cross Media.
- Stockland profit dives on residential woes
- Domino’s to take $280m slice of Japanese market
- Echo plans to build six-star hotel in Brisbane
- JB Hi-Fi chief pumps up the volume
- Customers first, before shareholders: CBA boss
- NAB banking on trade growth with Asia
- Westpac leads big four in race for Lloyds’s Aussie arm
- ASIC dark pool rules hit investment banks
- Apache plans multi-billion WA gas and oil spend
Anchorage a rich haven for Dick Smith
Private equity is famous for making a killing from buying and selling unwanted assets but shareholders in Woolworths could well ask why the company handed about $500 million so quickly to Anchorage Capital.
Technology
Reckon profit jumps in first-half
Accounting software maker Reckon has launched a share buy-back worth nearly $32 million, after posting 10 per cent growth in net profits for the first half of the year.
- Hyperloop futuristic transit plans unveiled
- Apple shares lifted by iPhone launch speculation
- Tech Mahindra woos Telstra
- NAB’s new trick for opening accounts – no humans required
- NBN business plan may have to wait
- BlackBerry may put itself up for sale
- Credit Union takes on big 4 banks with smartphone technology
- Greens back independent MP to chair NBN committee
- Rewards for TechOne’s cloud business
Samsung Galaxy Tab gets the chippy slap
The Samsung Galaxy Tab 3 10.1 is a wee slip of a tablet but its Atom processor and screen aren’t up to speed with its modern-day counterparts.
Markets
ASX steady as threat of Greek bailout looms
The ASX was steady on Tuesday after mixed results on markets in the US and Europe while the concern of another Greek bailout loomed.
- Business survey a potential highlight after quiet night
- $A lower on renewed US tapering expectation
- Dow, S&P; 500 end lower, techs lift Nasdaq
- Economy bets squeeze Spain, Italy debt risk premia
- Miners keep European shares near two-month highs
- Europe’s banks must cut €3.2tn of assets
- Debate over incoming US Fed boss is much ado about very little
- How do demergers perform? UGL joins spin-off queue
- ASIC dark pool rules hit investment banks
$A eyes US93¢, but don’t expect it to last
The United States dollar has been one of the world’s worst-performing currencies in the past week and its rout could push the Australian dollar as high as US93¢ in the coming days.
Personal finance
ATO bid to lure trust abusers into open
An increase in tax dodging through the use of trust funds and bankrupt companies has triggered an ATO crackdown, which is encouraging people to reveal illegal activity on the promise of smaller penalties.
- McGrath fears property market running too hot
- Commercial borrowing up as personal loans fall
- Macquarie’s Storm payout ‘unfair’: court
- Sydney continues record clearance rates
- Off-the-plan goes off: 90 apartments sold in five hours
- ATO targets SMSF asset sales
- CBA shareholder reward eyed as record profit looms
- Handicrafts to fawn over from 1803 Artisan Deer Design
- Housing market shrugs off the looming election
BTIM head sees better days ahead for funds industry
BT Investment Management is seeking to replenish its executive ranks, following the recent departures of chief operating officer Phil Stockwell and head of sales and marketing Martin Franc.
Lifestyle
In the footsteps of Klimt
Viennese artist Gustav Klimt found inspiration in the paradise at Lake Attersee in northern Austria.
Blurring the boundaries
A select few chefs are tweaking with tradition to the delight of Indian food devotees the world over.
The secret to eating like a local
Most cities have out-of-the-way eateries that only the locals know about – unless you have directions and even a guide.
Jewels in the Crown
The Crystal Villas on the uppermost floors of Melbourne’s Crown Towers leave you wanting for nothing.
Latest TV
Banking Outlook | Interest rates
Commonwealth Bank chief Ian Narev says the Reserve Bank has one more rate cut in them and looks at why bank executives haven’t commented on the proposed bank levy. More AFR TV
Result wrap: Newcrest
Newcrest Mining won’t pay a dividend after hefty write-downs and a 58 per cent drop in underlying profit; a falling gold price is just one of the company’s many worries. More AFR TV
Digital Life | Samsung Galaxy Tab
Digital Life’s John Davidson says the Samsung Galaxy Tab 3 10.1 has a great price point and nifty features, but the new Intel processor is a bit of a drag. More AFR TV
UGL on the M&A hunt
Richard Leupen will be around a little bit longer as UGL boss - and he says all smaller engineering companies are on his consolidation radar. More AFR TV
