Climate change panel more certain on warming
The hottest days in Australia will increase in temperature by up to 6 degrees and higher than previously predicted sea-level rises could decimate the Northern Territory’s Kakadu wetlands, according to an international scientific report to be released today.
NBN board ‘struggled’, Quigley ‘not the right person’ for job: Schott
Exclusive | NBN Co board member Kerry Schott has acknowledged the network’s board “struggled” with the rollout of the telecommunications project, arguing that former NBN head Mike Quigley was “not the right person” to run it.
Coles’ McLeod outstrips Goyder’s pay
Coles managing director Ian McLeod collected a handsome pay packet of $10.74 million in 2012-13, again surpassing the salary of his Wesfarmers boss, Richard Goyder.
Ashurst commits to global profit sharing
International law firm Ashurst will continue to pursue expansion in Korea and the United States, continuing its endeavour to become an elite global firm.
Online GST change won’t save retailers, Choice says
Consumer group Choice says it’s laughable to expect the 10 per cent goods and services tax will deter online purchasers.
Virgin’s Tigerair plans Sydney-Perth flights
Budget carrier Tigerair Australia will add a new route from Sydney to Perth from just before Christmas, its first new route since being bought by Virgin Australia Holdings.
Financial inquiry must not ‘cower in the corner’ post-GFC
A key architect of the nation’s regulatory system, Ian Harper, has urged the federal government to resist the post-GFC obsession with entrenching bank stability at the expense of productivity-boosting competition and innovation.
Moorebank open to private funding for freight terminal
Exclusive | Kerry Schott, chairman of the Moorebank Intermodal Company, believes the private sector could fund a proposed freight terminal in south-western Sydney built on government land.
Change in strategy deepens split in Greens
Greens leader Christine Milne has changed her party’s strategy since the election to become a protest party rather than taking on mainstream issues. The move has upset some of the party faithful and several, including long-standing chief of staff Ben Oquist, have left.
Cross City Tunnel up for sale
Sydney’s embattled Cross City Tunnel is formally up for sale, with potential buyers asked to express their interest in the next fortnight.
Big superannuation funds take on SMSFs
Industry and retail superannuation funds have kicked off a battle against the fast-growing self-managed sector, putting pressure on the Coalition government to tighten the rules covering the do-it-yourself schemes.
Why banning scalping is an affront to football
The AFL wants the marketing of high-priced tickets kept to itself, via hospitality packages like the “Etihad Stadium Brunch”. But scalpers are offering a better deal than the AFL to fans who don’t have privileged access to the grand final.
‘If this is recovery, I don’t want to experience recession’
Short duration bonds, global equities and Australian companies with US dollar earnings are the assets that local fund managers think will do well in light of the Federal Reserve’s decision to maintain its asset buying program.
SeaLink Travel IPO closes early
In perhaps another sign of the growing optimism in investment markets, ferry and tourism company SeaLink Travel Group will close its public offer early after strong demand from investors.
Foxtel revamps executive finance roles
Foxtel chief executive Richard Freudenstein has announced a management restructure in preparation for departure of COO Peter Tonagh.
Jammed Singapore going underground
Land is running out in the city state, which means there is only one way to expand – down.
Oracle’s anniversary win of Auld Mug brings back memories of Australia II
Bob Hawke, Alan Bond and John Bertrand shared a podium with Auld Mug to celebrate the 30th anniversary of the team’s 1983 America’s Cup win.
Meet the hedge fund owner investing in design futures
Daniel Droga’s award-winning Sydney warehouse conversion set him on a quest to broaden the appreciation of architecture.
Which country is the drunkest? The laziest? The fattest? Check the Sindex
Foreign Policy magazine has produced a “sindex”, listing the countries with the worst records for sloth, gluttony, vanity and more – and you may be surprised by the results.
Biggest companies struggle with gender diversity
Of ASX 200 companies, 15.5 per cent show little or no compliance with basic gender diversity principles, while 29.5 per cent rate only slightly higher.
This futuristic travel idea could save us, or it could just be hyperloopy
Mark Carnegie | Think how it would feel for Australia lead the world again – and to get 100 hours of your year back.
Relished BBM app shows BlackBerry potential
The interest in its leaked messenger app has given industry watchers insight into the appetite for BlackBerry services outside of the handset battle.
Oracle Team USA defeat NZ in America’s Cup
Oracle Team USA have completed a stunning comeback to claim the 34th America's Cup after defeating Team New Zealand in the deciding contest.
A do-it-yourself financial bubble
Regulators are lining up with concerns about households building up debt by buying property through SMSFs, writes Sally Patten.
National
NBN board ‘struggled’, Quigley ‘not the right person’ for job: Schott
Exclusive | NBN Co board member Kerry Schott has acknowledged the network’s board “struggled” with the rollout of the telecommunications project, arguing that former NBN head Mike Quigley was “not the right person” to run it.
- Change in strategy deepens split in Greens
- Financial inquiry must not ‘cower in the corner’ post-GFC
- Big superannuation funds take on SMSFs
- Abbott pulls Pyne into line over uni fees talk
- Robb disputes China beef ban
- Labor MP takes aim at NSW party after Islamic leader’s intervention
- Online GST change won’t save retailers, Choice says
- RBA won’t admit housing headaches: ex-official
Origin benefits as NSW dithers over gas
The latest pipeline deal between Origin Energy and APA Group demonstrates how Australia’s most integrated energy company is moving to extract full value from the NSW government’s continued dithering over unconventional gas extraction.
Opinion
Plentiful gas in NSW, for those who can afford it
That NSW has a gas supply problem was the only thing the 150 high-level delegates could agree on at Thursday’s energy security summit.
Labor should support Israel
Editorial | An attempt by the head of the Islamic faith in Australia to influence senator selection in the Labor party by threatening the party’s vote in marginal Western Sydney seats is unacceptable.
The problems with quantitative easing
The Federal Reserve is courting an increasingly treacherous endgame at home and abroad with its policy of quantitative easing.
World
Top global banks have €115bn capital shortfall
The world's biggest banks would need to boost their capital by €115 billion ($US155 billion) to comply with tougher rules and more than 60 per cent of that shortfall is in Europe.
- Fed will lose face if it starts tapering in October: Lacker
- Heat on ECB as bank loans to euro zone businesses fall again
- Lloyd’s of London profit slips on lower investment returns
- China unveils steps to free up interest rates
- Japan’s Lixil buys German bathroom fittings company in record deal
- Mandela responding to treatment: Zuma
- Singapore tycoon sues Goldman Sachs for currency losses
- Japan public funds should diversify: report
Fears raised over runaway Chinese municipal debt
Chinese municipal debt, a focal point of major concern about the country’s economy, has grown at an alarming 39 per cent clip in recent years, a new report says.
Business
Moorebank open to private funding for freight terminal
Exclusive | Kerry Schott, chairman of the Moorebank Intermodal Company, believes the private sector could fund a proposed freight terminal in south-western Sydney built on government land.
- Coles’ McLeod outstrips Goyder’s pay
- Why we shouldn’t be worrying about a house price bubble: ANZ’s Chronican
- Cross City Tunnel up for sale
- Warrnambool urges shareholders to reject Bega bid
- Online GST change won’t save retailers, Choice says
- Aussie dental chain caught up in takeover tussle
- Foxtel revamps executive finance roles in wake of COO
- BHP says Olympic Dam needs breakthrough to beat uranium slump
Banking on a regional brand
When the AFL grand final between Hawthorn and Fremantle bounces off at the “G” this weekend about 4 million Australians watching on TV will be constantly reminded of a local banking success story that was supposed to be a flop.
Technology
Online GST change won’t save retailers, Choice says
Consumer group Choice says it’s laughable to expect the 10 per cent goods and services tax will deter online purchasers.
- BlackBerry apps a top priority: VP
- Telstra criticises government’s spectrum deal with Defence: report
- Panic button-equipped Amazon Kindle Fire HDX launches
- China’s Alibaba opts for New York IPO over Hong Kong
- Nokia weighs Alcatel tie-up after Microsoft deal
- Turnbull approaches Wal King to join NBN board
- Telstra: job cuts won’t affect NBN
- This futuristic travel idea could save us, or it could just be hyperloopy
- Samsung dazzles phablet buyers with bigger screen smartphones
Blackberry Z30 is great if you’re a tweak geek
Like many of Blackberry’s products, the new 5-inch smartphone, the Z30, is a great phone with tragic flaws. What the price tag should read is “$699 plus labour”.
Markets
Strong labour figures boost ASX
The Australian sharemarket has closed higher, supported by better than expected local jobs data, as offshore equity markets in the United States and China fell. The S&P/ASX 200 Index rose 0.35 per cent, or 18.6 points, to 5294.5.
- Jobs data’s support for $A seen as temporary
- Domestic cyclicals rally looking ‘indiscriminate’: UBS
- Iron ore prices to wane with China steel output
- Biggest companies struggle with gender diversity
- Shipping activity suggests $A dips ‘will be limited’
- Hype of slowing growth in Asia ‘overplayed’
- IPO demand could dictate private equity exit strategies
- Wall St extends slide on budget debate, Wal-Mart
US budget brinkmanship makes taper timing uncertain
The prospect of a drawn-out spending and debt confrontation in the US Congress could be a trigger for increased market volatility and, potentially, a repeat of the tension that marked the end of 2012.
Personal finance
Land ahoy: Sydney values double from recession
The rise in demand for new housing in Sydney has turbocharged the growth in development site prices.
- Office tenants well placed till 2016
- Bargain marina investors banking on tourism boom
- Ponzi link to Gunns investors
- Fund managers’ dirty little secret
- Suncorp argues for life changes
- Concerns for risky borrowers as banks increase loans
- China rebound gathers momentum
- Financial advice’s future is boutique: McDonald
- Pub floats on the tear as equity markets perk up
Big superannuation funds take on SMSFs
Industry and retail superannuation funds have kicked off a battle against the fast-growing self-managed sector, putting pressure on the Coalition government to tighten the rules covering the do-it-yourself schemes.
Lifestyle
Hotel review | Sails in the Desert
If you ignore the jail chic exterior, Sails in the Desert is friendly and a luxurious place from which to view The Rock.
Short, wide and super chic
The best Jaguars have combined pace with a compliant ride, and the new F-Type puts the brand back where it should be.
Odyssey for the appetite
French cuisine takes on a beguiling Asian dimension at a handful of restaurants in Japan.
Rymill creates purist cabernets worth seeking out
Rymill Coonawarra has refined its winemaking and put the bad-smelling brettanomyce years behind it.
Latest TV
SMSF bemused by RBA attention
The self-managed super fund industry may be surprised by the Reserve Bank’s concerns about property investment in the growing sector, but Sally Patten says the central bank is justified. More AFR TV
Bank weighs in on bubble
ANZ Australia chief Phil Chronican says that a US-style housing bubble could happen in Australia, and has echoed RBA concerns about investment property within self-managed super funds. More AFR TV
Market Minutes | QE, $A important?
Auscap’s Tim Carleton doesn’t fret over Fed decisions and the Australian dollar, though is happy to take advantage of a market that does. More AFR TV
NSW’s Hartcher confident on gas supply
New South Wales Energy Minister Chris Hartcher has called for all stakeholders to work together to tackle the state’s gas supply challenge. More AFR TV
