Sluggish economy leaves door open to rate cuts
Bassanese | The Reserve Bank of Australia has left interest rates on hold this month, but the economy is likely to remain relatively sluggish, leaving the door open for lower interest rates by early 2014.
Market worries run deeper than US shutdown
The failure of Congress to pass the United States government’s spending bill points to the bigger failure to get the US balance sheet in order, which has put markets on edge.
ASX slips as US shutdown weighs on shares
The ASX fell on Tuesday as the US government entered a temporary shut down after Congressional Republicans and Democrats failed to settle bitter divisions over the budget and President Barack Obama’s signature healthcare law.
Why this housing boom is different
Banks, property developers and home owners are set to receive two pieces of good news: the first is that the housing boom has well and truly arrived.
Senior Labor MPs urge vote for Albanese
Three of Labor’s most senior female frontbenchers - Penny Wong, Tanya Plibersek and Jenny Macklin - have written to ALP members urging support for leadership candidate Anthony Albanese .
Virgin fills more seats at higher prices
Virgin Australia Holdings’s fortunes in the domestic market are continuing to improve, with the airline reporting it filled more seats at higher prices in the month of August.
China manufacturing activity disappoints
Updated | The latest read on manufacturing conditions in China has missed estimates and is set to dash hopes of a sustained improvement in activity in the world’s second-largest economy.
RBA should act on housing market: shadow board
The Reserve Bank of Australia should consider signalling that its next move will be to raise official interest rates amid fears loose monetary policy might fuel a house price bubble, according to a ‘shadow board’.
Roy Hill funding at risk after Caterpillar, miner spat
A tussle between Caterpillar and US mining investors in Australia over the US government’s financial backing for the Roy Hill mining project in WA has erupted, potentially thwarting a source of funding for the project.
Abbott softens key asylum policies during Indonesia trip
Prime Minister Tony Abbott has softened his contentious asylum seeker policies, clarifying that boats will be turned back in international waters, rather than towed back to Indonesia.
Transfield appoints Pritchard as non-exec director
Former Baulderstone Hornibrook chief executive Dean Pritchard will join the Transfield Services board as a non-executive director from October 28 as part of the company’s “ongoing renewal” of its board.
Smartphones create a ‘modern sweatshop’
A survey of Australian workers has found the average employee spends 72 hours a week connected to work thanks to smartphones, in what’s being described as a 21st century sweatshop.
William Buck partner dispute ‘commercial lunacy’: judge
A judge has ordered accounting firm William Buck to wind up its Perth holding company, calling a “gargantuan” partnership dispute over $275,000 that led to the order “commercial lunacy”.
Rinehart offers to step down from family trust
Updated | Mining magnate Gina Rinehart has offered to step down as trustee of her $5 billion family trust just days before her role was due to come under scrutiny by the NSW Supreme Court.
Institutions trade Ten shares ahead of result
--90x60.jpg)
Broker Morgan Stanley is believed to be leading heavy trade in Ten Network Holdings on Tuesday afternoon, with much of the volume said to be between institutional investors.
Science unveils sinister side to tattoo craze
As tattoos have become more fashionable they have attracted more scientific research and concern is now emerging about a possible long-term health risk.
Science and Christianity meet in outer space
The eternal debate between science and blind faith is played out in a new book “Science, Religion and the Search for Extraterrestrial Intelligence”, by David Wilkinson.
BlackBerry hits back at Gartner decline advice
BlackBerry has hit back at analyst firm Gartner, which reportedly advised enterprises to rethink their use of BlackBerry’s devices and platform.
Move to relax in-flight use of electronics in US
US airline passengers should be allowed to use electronic devices to read, play or enjoy movies and music, even when planes are on the ground.
St George boosts banking with smartwatch app
St George Bank is developing prototypes for smartwatch applications as it seeks to build on strong demand for its growing range of mobile banking services.
The amazing case of the missing black labrador
My friend Michael has a droll sense of humour, which is probably a good thing given recent events involving his dog, Skeeta.
Debt collectors battle it out
The trend to outsourcing debt collection has created space for new players. But as growth stalls, the contest to take market share off rivals is heating up.
Sony readies itself for mobile competition with PS4 launch
Sony is hoping to convince millions of Australians toting smartphones and tablets to “trade up” to high-definition gaming when it launches the PlayStation 4 in November.
Sex, lies and the Murdoch succession
Neil Chenoweth reviews Paul Barry’s Murdoch book, which entertains with commendable aplomb Rupert Murdoch’s own resolve that he will still be running the News Corporation empire in 2033.
Online sales fall as daily deal websites lose shine
Online sales fell in August as consumers turned away from websites that offer daily deals and tightened their purse strings.
National
Reserve Bank holds rates
Updated | The RBA has left official interest rates unchanged for a second month as it gauges whether improving business and household sentiment is becoming entrenched – balanced against the need for a lower dollar.
- Abbott softens key asylum policies during Indonesia trip
- Motoring enthusiast Muir wins Senate spot
- Senior Labor MPs urge vote for Albanese
- Vic costings process ‘totally bonkers’: Labor
- US consulates in Australia to stay open
- Downer to become president of SA Liberal Party
- RBA official told ‘don’t put it in writing’
- Julia Gillard: Why I was different to Kevin Rudd
- Second Opera House restaurant row
Housing talk still just hot air not a bubble
Jennifer Hewett | When is a boom not a boom? Suddenly, we seem to be back to enjoying Australia’s traditional dinner party conversation. Housing prices. Auction clearance rates. Who’s buying what, where, when?
Opinion
Acid oceans are the biggest climate worry
The IPCC report presents a diplomatic challenge for Australia: truly tackling climate change requires work at home and abroad, says Environment Minister Greg Hunt.
Web butler service IFTTT at your beck and call
If This Then That is one of the handiest little web services we’ve come across in a while. Think of it as a data butler that brings you weather alerts and can dim your lights, after a little programming.
Affluent society subverted by its own wealth
The political system in the US is being undermined by its own richness, and is changing from an affluent society to a spoils society.
World
China manufacturing activity disappoints
Updated | The latest read on manufacturing conditions in China has missed estimates and is set to dash hopes of a sustained improvement in activity in the world’s second-largest economy.
- US government enters shutdown
- Japan to raise sales tax, cushion blow with stimulus: final draft
- Does JPMorgan need a ‘three strikes’ penalty?
- Cargill to distribute Australian beef in US
- American Airlines plans to hire 1500 pilots
- BP lied about size of US Gulf oil spill, lawyers tell trial
- ECB will keep eye on gathering storm clouds
- Euro zone inflation falls to 3.5-year low in September
15 economies to grow faster than India and China
India and China might get most of the attention, but there are 15 countries expected to see stronger economic growth over the next 10 years.
Business
Boart’s plan: improve operations, cut staff
Fresh from securing a critical $US300 million refinancing deal, Boart Longyear boss Richard O’Brien said the drilling company will ride out the bruising downturn in mining services through operational improvements and cost cutting rather than raising equity.
- Mongolia upbeat on Oyu Tolgoi financing deal
- Roy Hill funding at risk after Caterpillar, miner spat
- Virgin fills more seats at higher prices
- Elders staff join Ruralco amid trading investigation
- Transfield appoints Pritchard as non-exec director
- ING low-cost super draws $500m from savers in first year
- Leighton wins Dubai, Melbourne contracts
- Fairfax to close (sydney), (melbourne) magazines
- Telstra health spend nears $100m with Fred IT stake
He’s back, Mick Davis builds new mining warchest
He’s back. Former Xstrata chief Mick Davis has managed to drum up a cool US$1 billion to do what he loves best – making acquisitions.
Technology
Intel buys Sydney-based Sensory Networks for $21.5m
Updated | Global computing giant Intel has acquired Sydney-based technology company Sensory Networks, which was founded by Freelancer.com’s Matt Barrie, for $US20 million ($21.5 million).
- Telstra launches ‘bucket-style’ mobile plans
- BlackBerry hits back at Gartner decline advice
- SAP cashes in on NSA snooping concerns for new Australian business
- Telstra health spend nears $100m with Fred IT stake
- Google paid $US55m UK tax on $5b sales
- Move to relax in-flight use of electronics in US
- Nokia and Microsoft pose biggest threat as BlackBerry clings to life
- ACCC to regulate NBN pricing despite policy change
--318x150.jpg)
Why the Samsung Note 3 is the best smartphone by a mile
If a nuclear war broke out and we had to jump on a plane to escape to Antarctica, and if for some reason there was room for only one smartphone per person, the Galaxy Note 3 is the one we’d take.
Markets
ASX slips as US shutdown weighs on shares
The ASX fell on Tuesday as the US government entered a temporary shut down after Congressional Republicans and Democrats failed to settle bitter divisions over the budget and President Barack Obama’s signature healthcare law.
- $A soars amid greenback selloff, rates news
- Market worries run deeper than US shutdown
- RBA stands pat on rates, references ‘saver behaviour’
- Reserve Bank holds rates
- $A higher despite US political woes
- China manufacturing activity disappoints
- Things to know about a Washington shutdown
- 15 economies to grow faster than India and China
- Debt ceiling delay to bring fresh financial crisis
Investor caution advised on IPOs as market heats up
Investors have been told to regard coming IPOs with a healthy degree of scepticism as private-equity-owned businesses return to the market at record speeds and prices.
Personal finance
Investor caution advised on IPOs as market heats up
Investors have been told to regard coming IPOs with a healthy degree of scepticism as private-equity-owned businesses return to the market at record speeds and prices.
- RBA rate expected to remain steady
- More mortgagee sales in the Sunshine State
- Strong housing demand drives REITs in September
- Desperately seeking women: Westpac’s new adviser network
- Drop in the ocean: Peter Drake’s $30m home sells for $7m
- Crackdown looms on property superannuation spruikers
- Mortgage broker charged over home loans
- Home loan arrears will rise, warns Moody’s
St George boosts banking with smartwatch app
St George Bank is developing prototypes for smartwatch applications as it seeks to build on strong demand for its growing range of mobile banking services.
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
RBA on hold as US shuts down
Commonwealth Bank senior economist John Peters says the Reserve Bank’s decision to keep the cash rate on hold is likely to be repeated, while the shutdown of the US government could have a heavy market impact if it lingers. More AFR TV
‘Of course they should’ve investigated’
A former top lawyer says ASIC should have investigated former RBA banknote company directors. More AFR TV
Big cities drive home prices
Australian homes are more expensive than ever before as surging activity in Sydney and Melbourne again raise the spectre of a property bubble. More AFR TV
Market Outlook | RBA comments
The market doesn’t expect a surprise decision by the RBA on Tuesday, but will be focused on the central bank’s comments. More AFR TV
