Centerbridge, Oaktree make new Billabong offer
Billabong International suitors Centerbridge Partners and Oaktree Capital Management have released details of a new restructure which is understood to have been put to Billabong’s board.
ASX gains 1pc on positive results, sentiment
Updated | The ASX rose more than a per cent on Friday after some positive local company results and gains on global markets following better than expected economic sentiment.
BHP’s Mackenzie takes haircut on sign-on bonus
BHP Billiton chief executive Andrew Mackenzie has opted to take a haircut on his sign-on bonus and will receive a lower long-term bonus amid a wave of cost-cutting by global resources companies.
Crown loses shine as economy hits beer, gambling
Evans | Beer and gambling are supposed to be recession-proof in Australia. That’s no longer true it seems, as the weaker economy has even affected the main gaming floor at Crown’s big Melbourne casino.
Lend Lease’s Asia, America profits grow
Construction and development giant Lend Lease has delivered 10 per cent boost in its statutory profit to $551.6 million, just slightly ahead of market expectations, as Asian and American profits rise.
Mirvac eyes ‘normalised’ returns, profit beats forecast
Diversified property group Mirvac has grown in its first year under managing director Susan Lloyd-Hurwitz delivering operating earnings ahead of guidance.
Results wrap | Property companies exceed forecasts
Reporting season live | ■ Qube beats analyst forecasts ■ Lend Lease exceeds forecast ■ Infigen Energy has loss ■ Mirvac net profit slumps ■ IOOF Holdings profit up ■ Telecom profit down ■ Transpacific Industries posts $67.9m net profit.
Labor’s cuts to GST red tape ‘good policy’: accountants
Federal election live | ■ Rudd details plans to reduce number of GST returns for small business ■ Cormann says Eslake “has his sums wrong” on Coalition’s costings ■ Abbott to announce asylum seeker measures
Ex-Gunns chairman John Gay avoids jail
Former Gunns chairman John Gay has avoided a jail sentence for insider trading and instead been fined $50,000 after pleading guilty and facing five years’ imprisonment.
Resimac group sweetens all-cash takeover bid for RHG
A group led by mortgage company Resimac has sweetened its all-cash offer for RHG, formerly RAMS Mortgage Corp, for a second time in an attempt to win a bidding war for the target.
Labor v Coalition on climate change, mining tax, education and the NBN
Interactives | Our expert reporters show how the major parties compare on the key policies.
How BlackBerry’s loyal shareholders never won – but its executives did
BlackBerry’s financial strategy was not particularly unusual, although it does stand out in the way it abused the rules on executive stock options.
Desk jockey – going to the gym isn’t enough to save your health
Prolonged periods of inactivity are bad regardless of how much time you also spend in the gym. So what should you do?
IAG out front on capital return talk, UBS says
It is too early for Insurance Australia Group to be talking about capital returns according to UBS analysts, with the company still focused on Asian growth and boosting its capital position.
Aussies abandon beef for a more cultured palate
Australians are spending less on red meat and more on poultry and exotic produce in a marked shift a way from the meat and three veg world of 25 years ago.
How Tim Cook reshaped Apple’s culture
At Apple, Cook has established a methodical, no-nonsense style, one that's as different as could be from that of his predecessor.
A tax on people who don’t understand maths
There’s as much chance of being struck by lightning on your birthday as hitting a lottery jackpot and winning rarely adds up to enough to make dreams come true.
Nasdaq goes down, Twitter lights up
When a technical glitch took down the Nasdaq exchange on Thursday in the US, halting trading in shares such as Apple, Wall Street wags quickly turned to Twitter to peddle gags.
Executive homes under the hammer
Company director David Noble is among executives selling properties, with his home in Sydney’s Elizabeth Bay listed with price expectations of more than $5.5m.
Casual dining with a twist of sublime
Australian eating and restaurant-going habits have changed a lot over the past 30 years, reflects restaurateur and writer Stefano Manfredi.
Ten years of sweet motoring evolution
Tony Davis celebrates a decade of Life & Leisure with an exhaustively researched, entirely subjective list of the Top 10 cars from the past decade.
Streaming devices point to a smart TV future
Someday, our televisions will be smart. But for now, to take advantage of programming available online and through apps, you need a streaming device.
Internet access for all? Zuckerberg says yes
Facebook chief is heading a project aimed at making internet access affordable for the 5 billion people who are not online.
Six gadgets that failed to leave a mark
Gadgets that seemed worthy at the time, but a decade later make me feel embarrassed by how easily I was fooled.
National
Labor’s cuts to GST red tape ‘good policy’: accountants
Federal election live | ■ Rudd details plans to reduce number of GST returns for small business ■ Cormann says Eslake “has his sums wrong” on Coalition’s costings ■ Abbott to announce asylum seeker measures
- Ex-Gunns chairman John Gay avoids jail
- Murdoch’s ‘taking a club’ to Labor: Rudd
- Abolish baby bonus, reform tax: welfare groups
- Nationals lose in free-trade push
- Rudd vows cut to GST red tape
- Judicial inquiry into AWU cold case if Coalition wins election
- Discrimination laws an important election issue
- Palmer launches another grenade at LNP rivals over Ashby affair
- Coalition: Direct Action will meet climate target ‘easily’
Opinion
It’s a matter of when, not if, for Fed tapering
It seems agreed that it’s the right and decent thing to do, it’s just a case of when the US Federal Reserve actually starts to wind back economic stimulus.
Fortescue boss contradicts Rudd over China boom
Nev Power says the iron ore price will stabilise and argues the level of demand for Australian iron ore will be underpinned by China’s need for steel.
Transforming indigenous lives need not take generations
Warren Mundine from the Australian Indigenous Chamber of Commerce is tired of hearing how long it will take to fix the problems for Aboriginal people. He says we know what needs to be done and with a determined leadership, it need not take time.
World
Communist party says Bo is just ‘performing’
The Communist Party of China’s newspaper dismissed Bo Xilai’s defence as lies, adding weight to expectations the outcome of Mr Bo’s trial has been pre-determined and he will be found guilty.
- Fed’s Fisher says US economy can handle taper
- Nasdaq connectivity issue latest blackeye for US markets
- Brooks’s phone-hacking trial delayed in UK
- US labour market, factory data show economy firming
- Icahn plans talk with Apple's Cook on buyback size
- Lufthansa may place $10bn plane order next month
- Schaeuble says Greek aid shocker meant to bring clarity
- HP chief on prowl for acquisitions up to $US1.5bn
- Mubarak is freed - to a political comeback?
Fukushima fails to contain radioactive leaks
Japan has for the first time sought overseas assistance after a leak of 300 tonnes of irradiated water from the crippled nuclear plant at Fukushima.
Business
Centerbridge, Oaktree make new Billabong offer
Billabong International suitors Centerbridge Partners and Oaktree Capital Management have released details of a new restructure which is understood to have been put to Billabong’s board.
- Results wrap | Property companies exceed forecasts
- BHP’s Mackenzie takes haircut on sign-on bonus
- Crown profit down 22.9pc on Echo, Melco investments
- Qube shapes up for stronger earnings with $81m profit
- Lend Lease’s Asia, America profits grow
- Infigen write-down blows $22m more than expected
- Mirvac eyes ‘normalised’ returns, profit beats forecast
- Resimac group sweetens all-cash takeover bid for RHG
- Transpacific loses $218m amid ‘tough conditions’
Let’s not talk about underperfoming contracts
When companies pre-announce their results, as Lend Lease did in June, it is often a mechanism for deflecting attention from problem areas when the actual numbers are published.
Technology
Telecom NZ eyes AAPT sale as profits drop 23.6pc
Telecom New Zealand has said it will complete a review of its Australian strategy by the end of financial year 2014 - a move that could potentially include a sale of AAPT.
- How Tim Cook reshaped Apple’s culture
- Huawei, ZTE get most of China Mobile's 4G contracts
- Pandora earnings forecast disappoints, shares drop
- HP chief on prowl for acquisitions up to $US1.5bn
- Nasdaq goes down, Twitter lights up
- War for Dell swings towards founder
- Google, Facebook challenge global banks
- Telstra buys NSC for $100m to boost cloud business
- Final batch of secret Nixon tapes released as MP3 files
Samsung readies to take on Google
The “Tizen” operating system that Samsung has been building to compete with Google’s Android is nearly ready, and Tizen-powered phones could be with us by the end of the year, according to a report.
Markets
ASX gains 1pc on positive results, sentiment
Updated | The ASX rose more than a per cent on Friday after some positive local company results and gains on global markets following better than expected economic sentiment.
- Brief burst for $A on China rate speculation ... again
- Strong Chinese data boosts $A higher
- $A caught between Fed, China
- Results wrap | Property companies exceed forecasts
- Wall Street ends higher on economic data
- Nasdaq connectivity issue latest blackeye for US markets
- Fed’s Fisher says US economy can handle taper
- German yields hit 1-1/2 year highs on data, Fed
- European shares rise as PMIs bolster recovery bets
Personal finance
ASX to pay lower dividend as profit edges higher
The Australian Securities Exchange will pay a lower dividend after it reported a slight increase in full-year profit, but raised hopes of a pick up in market activity as the global economy improves.
- IAG triples profit on better weather, fewer natural disasters
- NAB in UK banks scandal
- AMP to launch no-frills MySuper products
- ASIC targets suspicious share trading
- BHP’s potash projects earns plaudits from some
- Investors hope for certainty after the election
- Do off-the-plan apartments pay off?
- ASIC targets hybrid market disclosure
- Investors take $1.7bn hit to fund parental leave
$A caught between Fed, China
The Australian dollar was caught between a stronger US dollar and positive economic signals out of China, adding to the volatility weighing on markets.
Lifestyle
The evolution of luxury
Since Louis Vuitton landed in Australia in the ’80s, locals have embraced high-end brands, and it’s a growing appreciation.
Vuelta a España excitement grows
As the cycle teams are announced for Spain’s Vuelta a España, Australian fans have high hopes tor Orica GreenEDGE.
Unexpected treasures a traveller has discovered
From Sao Paulo to Seoul, most memorable travel experiences are often the result of pure chance, writes Ute Junker.
Suburb profile | Brighton-Le-Sands
Culturally diverse and vibrant, this Sydney bayside community near the airport is luring younger residents.
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