Hockey unveils Coalition’s final costings
Federal election live | Foreign aid targeted as Coalition releases much-awaited costings ■ If you have doubts, don’t vote for Abbott, says Rudd ■ Car industry told FBT changes ‘null and void’ under Abbott ■ Peter Costello says he hasn’t been asked to head Coalition commission of audit
Competition stops business getting lazy: Sims
Australian Competition and Consumer Commission Chairman Rod Sims has flagged a more aggressive approach to business. He doesn’t buy business arguments that more mergers should be allowed to build ‘national champions’.
Macquarie loses offshore banking fight with ATO
The Tax Office has won a battle against Macquarie Group after a Federal Court judge summarily dismissed a dispute over the tax regime relating to the bank’s offshore banking unit.
Financials, resources drag ASX down 0.4pc
Updated | The ASX dropped on Thursday, dragged lower by declines in sectors including financials and resources despite gains on Wall Street after military action against Syria was expected to be limited.
Citi, Morgan Stanley end distribution agreement
Citi will no longer use Morgan Stanley Wealth Management Australia to sell share offers, hybrids and other products to retail investors, after the two firms ended a distribution agreement.
Coe estate flags cross claim in Allco class action
The lawyer acting for the estate of the late David Coe has said he is considering a cross claim in the class action brought by disgruntled investors against the failed Allco Finance Group.
Perpetual equities deputy Lanchester to leave
Prominent fund manager Charlie Lanchester, the deputy head of equities at Perpetual, is leaving the $1.65 billion wealth behemoth after 18 years in the company.
Clayton Utz suffers 4pc revenue decline amid job cuts
National law firm Clayton Utz has reported a fall in revenue to $436.7 million and its intention to cut the increase in annual fees amid a tough year for legal services in Australia.
Newcrest faces huge challenge rebuilding trust
Maurice Newman’s report into Newcrest Mining says the marketplace did not necessarily understand the company’s disclosure practices. But the gold miner still faces a challenge rebuilding trust with investors.
ACCC gives Air NZ nod to lift Virgin stake
Updated | Air New Zealand has received Australian Competition and Consumer Commission approval to lift its stake in airline Virgin Australia by an extra 6 per cent.
Where the CEOs of the future study
Where do you go to become a Fortune 500 CEO? First choice would be to graduate from Harvard University. Next best would be to have a degree from the University of Tokyo or Stanford.
The best Wall Street banks to work for and why
The Blackstone Group has ousted JPMorgan Investment Bank from the No. 1 spot in recruiter Vault’s annual top 50 list of the best Wall Street banks to work.
Pura Vida Energy seeks to raise $5m in placement
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Oil explorer Pura Vida Energy is seeking to raise $5 million in a placement through RBS Morgans and Hartleys.
Are your food allergies all in your mind?
Gluten intolerance, like MSG intolerance before it, has acquired a quasi-religious status, but it may just be that we are making ourselves sick.
Women venture into venture capitalism with Scale Investors
Venture-backed start-up is largely a man’s world. But a group of Australian women hopes to change that.
Third time a charm for Sony SmartWatch?
Sony’s third attempt at a smart watch is by far its best yet.
Prada pays for $1660 champagne stain
Prada has been forced to refund a $1660 silk skirt after staff were found to be wrong for not warning a buyer that champagne would stain it irreparably.
Aussie wines top table at London awards
Australia has won more international trophies than any other country at the Decanter World Wine Awards, taking the top gong in six of the 32 categories.
Shorter work week may not increase wellbeing
Think a shorter work week will make you happier? You may be in for a surprise. A study has shown it has no effect on job or life satisfaction.
Chill wind blows for spring art auctions
Spring was in the air in Sydney last week as first Sotheby’s Australia, then rivals Deutscher and Hackett, put an array of art under the hammer.
Whitsunday may be paradise but tourism still slow
The Whitsunday Islands are still struggling as a tourism destination, although its future is looking brighter.
Kim Dotcom resigns as Mega director
Flamboyant internet entrepreneur Kim Dotcom has resigned from his Mega data storage empire to focus on fighting extradition to the US.
Kerzner eyes expansion after Hayman Island ‘takeover’
Kerzner International, the new operator of Hayman Island, is embarking on expansion that could see further Australian resorts transformed. Hayman will close in January and undergo a $50 million refurbishment before opening in April as Kerzner’s first One & Only luxury resort in Australia.
National
Hockey unveils Coalition’s final costings
Federal election live | Foreign aid targeted as Coalition releases much-awaited costings ■ If you have doubts, don’t vote for Abbott, says Rudd ■ Car industry told FBT changes ‘null and void’ under Abbott ■ Peter Costello says he hasn’t been asked to head Coalition commission of audit
- Competition stops business getting lazy: Sims
- Macquarie loses offshore banking fight with ATO
- Abbott in $6 billion crawl to surplus
- Coe estate flags cross claim in Allco class action
- Business, investor confidence hangs on Coalition win
- EnergyAustralia CEO denies pressure to sack former executive
- Aussie wines top table at London awards
- Hydro Tasmania names Davy as new CEO
- Junior miners welcome Coalition’s exploration tax break
Australia’s Women of Influence entrants – we thank you
We asked for the women changing Australia to put their hands up for this year’s 100 Women of Influence awards and they certainly heard us.
Opinion
Austerity could become an urgent prescription
The end of the mining boom means that hard choices have to be made about the future of the Australian economy. But they will have to be made quickly.
REITs report as expected, but face challenges
Australia’s Real Estate Investment Trusts reporting season shows prices have lagged behind broader equities for the last three months.
An NBN that suits the times
Editorial | No-one could argue with Labor’s view that high speed broadband is a game-changing, productivity-boosting piece of national infrastructure. But on the eve of the election, the government’s NBN Co is a beached whale; a company and a project in crisis and badly in need of a fresh start.
World
US auto sales surge, accelerating past forecasts
US auto sales were on a pace to show a gain as high as 17 per cent in August as the industry raced toward its strongest month since just before the start of the 2007-2009 recession.
- Rupert Murdoch puts family yacht up for sale for $32m
- At UN, Australia pushes diplomatic efforts on Syria
- US may supply Syrian rebels arms via Pentagon
- Britain to prosecute Olympus over fraud
- Global smartphone sales tipped to hit 1bn this year
- US trade deficit widens, little impact seen on Q3 growth
- Ryanair plans aggressive seat sales as profit stalls
- IMF warns emerging economies vulnerable to US tapering
- Putin says Russia may support UN resolution on Syria
Are these the world’s 10 most influential money managers?
Bloomberg has revealed the global finance executives who shape economies, move markets, do deals – and change the world.
Business
Macquarie loses offshore banking fight with ATO
The Tax Office has won a battle against Macquarie Group after a Federal Court judge summarily dismissed a dispute over the tax regime relating to the bank’s offshore banking unit.
- Moody’s cuts sub-debt rating of Australian banks
- Newcrest to tighten up on disclosure
- ACCC gives Air NZ nod to lift Virgin stake
- Perpetual equities deputy Lanchester to leave
- ACCC clears Westfield purchase of Karrinyup
- Coe estate flags cross claim in Allco class action
- Business, investor confidence hangs on Coalition win
- William Hill to scrap online ‘bet’ brands
- Push to lock Nine’s hedge fund owners into holding stock
Newcrest faces huge challenge rebuilding trust
Maurice Newman’s report into Newcrest Mining says the marketplace did not necessarily understand the company’s disclosure practices. But the gold miner still faces a challenge rebuilding trust with investors.
Technology
Finns mourn loss of national icon as Microsoft takes over
Nokia was once a source of great national pride for Finland and Finns have been left stunned in the wake of Microsoft’s takeover.
- NBN delays are normal, says ACCC’s Sims
- 3D system future-proofs military hardware
- Apple fuels talk of deal with China Mobile
- BlackBerry hopes for November sale
- Caledonia gives Packer a helping hand
- Global smartphone sales tipped to hit 1bn this year
- iPad to lose Aussie tablet top spot within two years
- Voters face double disillusion
- Deloitte NBN savings apply to Coalition policy: Turnbull
Making comeback, Sony reveals Xperia Z1
Has Sony’s long march out of the gadget wilderness just stumbled upon civilisation? Has the once dominant electronics manufacturer found its way back home? At the very least, it seems to have found a map.
Markets
Financials, resources drag ASX down 0.4pc
Updated | The ASX dropped on Thursday, dragged lower by declines in sectors including financials and resources despite gains on Wall Street after military action against Syria was expected to be limited.
- ASX less fair value as you think: 12pc downside, says GS
- Business, investor confidence hangs on Coalition win
- Commodities price collapse overhyped
- Are these the world’s 10 most influential money managers?
- $A tipped to regain US94¢ on global growth
- Wall Street rises on auto maker, tech stocks
- Pimco bond fund takes $US41bn tumble
- European shares track US gains to end slightly higher
- Splits make sense again for local stocks
Good gains to be had during recovery
If dividends are included, the top 20 Australian stocks are now 15 per cent higher than their peak reached in the 2007 bull market.
Personal finance
Future Fund boss Mark Burgess resigns
Updated | Mark Burgess has unexpectedly resigned from his position as managing director and president of the $89 billion Future Fund after a little more than two years with the organisation that was established in 2006 to manage the retirement savings of Commonwealth government employees.
- ASIC orders Credit Suisse, UBS to change ads
- Rush to grab inner city apartments
- REITs report as expected, but face challenges
- Fixed interest investments no longer so safe or simple
- Ausdrill, Barminco executives charged in tax case
- Offshore exposure boosts Future Fund asset base
- Miners detect new life in ‘toughest market in 30 years’
- Building approvals beat forecasts, manufacturing remains weak
- Health.com.au’s Andy Sheats eyes health insurance shake-up
Are these the world’s 10 most influential money managers?
Bloomberg has revealed the global finance executives who shape economies, move markets, do deals – and change the world.
Lifestyle
Great drives | Audi RS6 has racing in its genes
Audi means business with its new RS6 Avant, which is spacious and sporty with a racing car feel.
Great drives | A test drive of four Ferraris
It’s not every day you can drive four different kinds of rosso corsa Ferrari.
Jungle fresh from top Brazilian chef
Ants feature on the menu at Alex Atala’s Sao Paulo restaurant D.O.M. – consistently voted the best in South America.
Philanthropy brings its artistic rewards
Art investors and connoisseurs who pitch in to revive a stagnant local market will benefit in the long run.
Latest TV
Rudd’s last days?
Political editor Laura Tingle speaks with chief political correspondent Phillip Coorey about Kevin Rudd’s potentially last National Press Club appearance as PM. More AFR TV
Geoff Allen lauds business’s political presence
The founding president of the Business Council of Australia, Geoff Allen, says it’s good that businesses are getting involved in the political process. More AFR TV
Review: Google Nexus 7
If you share your tablet with others, or are sick of typing in PINs because of work, the Asus Nexus 7’s multi-user account feature could be a game-changing feature. More AFR TV
ALP plots post-election revenge
Bad news if you were hoping for post-election certainty: with a Coalition victory imminent, Labor is already preparing for revenge beyond blocking the carbon tax, as Laura Tingle and Phil Coorey discuss. More AFR TV
