A new wind from China on services, trade
Beijing appears to be softening its mood on opening up its services sector to free-trade agreements in a bid to arrest stalling growth.
Leighton rejects governance criticism
Leighton Holdings has hit back against claims former and existing staff were aware of multimillion dollar kickback payments, stating it “takes exception” to criticism of its governance structures.
ASX ends lower on worries over US stalemate
The Australian sharemarket fell on the fifth local trading day since the United States halted non-essential spending. Investors are increasingly nervous the political stalemate over the budget will extend to negotiations over the nation’s debt limit.
A US default could be ‘horrific’: Eslake
A failure by US lawmakers to raise the debt ceiling, even for as little as half a day, could have “horrific consequences” including a recession that would hurt Australia, warns Bank of America Merrill Lynch economist Saul Eslake.
Doug Shears loses 8-year Berri legal battle
Agribusiness investor and BRW Rich Lister Doug Shears has lost an eight-year legal battle to extract a $3.5 million dividend from a 2005 deal.
Fortescue challenges regulator in WA Supreme Court
Fortescue Metals Group is challenging the West Australian economic regulator’s cost analysis and decision to support negotiations between it and junior iron ore upstart, Brockman Mining, for rail access in the WA Supreme Court.
Fairfax in radio merger talks with Macquarie
Fairfax Media would emerge with substantial shareholder and management control if a potential merger of its radio assets with John Singleton’s Macquarie Radio Network comes to fruition.
Construction sector on the mend as new orders rise
Updated | Australian construction rose to its highest level in almost three and a half years in September, as house and apartment building expanded in a sign the sector is stabilising.
Telstra ramps up 4G delivery
Telstra has released new statistics that show over 20 per cent of its 13.1 million mobile subscribers are using 4G devices, as the company ramps up the construction of 4G base stations.
Sharemarket helps lift CommSec profit to $86m
Australia’s biggest online broking firm, CommSec, has boosted profits by more than 9 per cent as a pick up in the stockmarket prompts more investors to trade shares.
China opens economy to services
China’s trade negotiators have told other country representatives in Geneva they will make a substantial offer on services trade early next month, a move described as a ‘game-changer’.
Don’t burn out, Lend Lease tells workers at Barangaroo project
Andrew Wilson has warned employees tackling the early stages of the long-term Barangaroo development to retain their work/life balance.
Crown extends sponsorship deal with tennis star Li Na
Casino and resort operator Crown has extended its sponsorship with Chinese tennis star Li Na for a further two years in a multi-million dollar deal to promote the company to its Asian customers.
SeaLink chief’s rise from beancounter to captain of the fleet
Jeff Ellison, managing director of SeaLink Travel Group, which lists on the Australian Securities Exchange in a $77 million public float next week, used to be a mild-mannered tax accountant for the very business he now runs.
Macquarie, CBA targeted in latest short positions
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Short-positions increased slightly over the past week as hedge funds took aim against Macquarie Group and Commonwealth Bank of Australia, according to CBA Equities analysts.
Apple’s new iMac cold to the touch
Apple’s latest creation, the new iMac, is the most attractive and most cruel all-in-one computer. Its beauty just makes you want to reach out and touch it but the iMac remains cold and indifferent.
Tatts bows out of Irish lottery
The lotteries division of Tatts Group will remain an Australian-only operation after the Irish government awarded its 20-year National Lottery licence to an Irish-Canadian joint venture.
Ina Chan lists exclusive Vaucluse home
The wife of Macau gaming tycoon and Packer family business associate Stanley Ho, Ina Chan, has listed her multi-million Vaucluse home with gun-barrel views of Sydney Harbour and Bondi Beach.
Why Samsung should buy BlackBerry (please!)
Not content with a takeover offer that would take it private, BlackBerry has been shopping itself to a list of potential buyers including Google, SAP, Cisco, Intel, LG and Samsung, according to a report from Reuters.
Financial Review CFO Awards 2013 Finalists
Congratulations to the finalists in the Financial Review CFO Awards.
Why your credit rating could hurt your dating life
Brush up your personal credit rating. It is about to be Australia’s newest status symbol in online dating, if the US is anything to go by.
Roosters win great, controversial grand final
One of the greatest Rugby League premiership deciders of all time will also go down among the more controversial.
Sports retailers welcome change of season
Super Retail Group, the parent company of Rebel and Amart Sports, is looking to capitalise on move to summer games and outdoor pursuits.
TV-free childhood no obstacle for new Seven chief
PNG-born Nick Chan, new chief operating officer of Seven West Media, didn’t have a TV until the 1980s, but that hasn’t stopped his meteoric rise.
Masterclass in managing DIY super funds
Regulators’ fears about self-managed super funds can’t be dismissed, but if you take the correct advice, it’s not hard to get it right.
National
Australia welcomes Chinese investment: Abbott
Prime Minister Tony Abbott has underscored his desire to see more foreign investment in Australia following a meeting with Chinese President Xi Jinping during the APEC summit in Bali.
- Construction sector on the mend as new orders rise
- A US default could be ‘horrific’: Eslake
- EnergyAustralia claims former executive lied
- Senate win stalls Motoring Enthusiast Party
- Macfarlane says funding ‘transfusion’ for Holden likely
- ‘We would have won a seat in Victoria’: Clive Palmer
- Power industry on cusp of transformation: PwC
- Asian investors are buying by the floor
Ina Chan lists exclusive Vaucluse home
The wife of Macau gaming tycoon and Packer family business associate Stanley Ho, Ina Chan, has listed her multi-million Vaucluse home with gun-barrel views of Sydney Harbour and Bondi Beach.
Opinion
Defined contribution funds ‘not best model’
As companies around the world find the cost of guaranteed pensions prohibitive, so-called defined benefit superannuation schemes are becoming a thing of the past.
Exporters feel the pain of US budget squabble
Talk about unintended consequences. Australian exporters were just starting to relish the prospect of a lower Australian dollar when the budget squabble in America pushed it up.
Urgent need to teach more foreign languages in our schools
Prime Minister Tony Abbott’s trip to Jakarta last week may not have touched on education but it does beg the question – why aren’t more of our schools teaching the languages of our trading partners.
World
China opens economy to services
China’s trade negotiators have told other country representatives in Geneva they will make a substantial offer on services trade early next month, a move described as a ‘game-changer’.
- US ‘on path’ to default: Boehner
- US cites ‘progress’ in Asia-Pacific free trade deal
- Indonesia urges APEC to boost emerging economies’ growth
- Argentine president’s head injury fuels speculation
- West Papuan activists have changed focus: expert
- Emissions deal gets thumbs up from aviation industry
- The Silicon Valley star now looking for shareholders
- Some Tea Party lawmakers willing to compromise on US shutdown
- Forex trades by banks in Swiss spotlight
Federal Reserve introduces redesigned $US100 note
The US Federal Reserve will begin circulating a new $US100 note with some modern anti-counterfeiting features although it remains the same drab green colour, after a 2 ½-year delay.
Business
Leighton rejects governance criticism
Leighton Holdings has hit back against claims former and existing staff were aware of multimillion dollar kickback payments, stating it “takes exception” to criticism of its governance structures.
- Doug Shears loses 8-year Berri legal battle
- Tatts bows out of Irish lottery
- Higher dairy prices to bolster earnings: Warrnambool
- Fairfax in radio merger talks with Macquarie
- Qantas fleet renewal will cut costs: Joyce
- Blumont committed to Discovery Metals deal
- Sharemarket helps lift CommSec profit to $86m
- Telstra ramps up 4G delivery
Virgin cool on Sydney airport proposal
Virgin Australia has told Sydney Airport it unlikely to support any push to consolidate its domestic and international operations under one roof unless all its airline partners are included.
Technology
Mastering the art of email etiquette
Rather than contributing to the tidal wave of information overload, how about finessing your e-skills? Your contacts and colleagues will thank you for doing so.
- Memories of Facebook cloud Twitter’s IPO
- Why your credit rating could hurt your dating life
- HTC under pressure to find partner after first quarterly loss
- How online advertisers link your devices
- BlackBerry accused of inflating shares
- Telcos waiting on Turnbull’s NBN plans
- HTC posts first-ever quarterly loss
- Samsung forecasts strong quarter as top mobile chief leaves
- NBN director slams both Conroy and Turnbull
Millions of Adobe customers passwords stolen
Adobe Systems said on Thursday that hackers had stolen source code to some of its most popular software along with data about millions of its customers.
Markets
ASX ends lower on worries over US stalemate
The Australian sharemarket fell on the fifth local trading day since the United States halted non-essential spending. Investors are increasingly nervous the political stalemate over the budget will extend to negotiations over the nation’s debt limit.
- Markets demand resolution on two fronts as debt ceiling nears
- Fund outflows more modest than 2011 debt ceiling crisis: ML
- $A down as US crisis hits global confidence
- New online broker opens for business
- Australian investors not immune to US political instability
- Copper prices beaten down by soft demand outlook
- Demand for foreign bonds weakens
- How US default risk haunts world
- Forex trades by banks in Swiss spotlight
Finding light in emerging markets’ gloom
After two difficult years, emerging-market stock funds posted solid gains in the third quarter, raising hope that this once-high-flying asset class may be ready to rebound. Yet many strategists and money managers caution investors not to get too excited.
Personal finance
Sydney’s high-end home market hits $2.5m ceiling
Economist Andrew Wilson says average home buyers are out in force but the luxury end of Sydney’s hot property market has hit a $2.5 million price ceiling.
- Asian investors are buying by the floor
- Taxpayers in limbo amid backlog of changes
- Demand for foreign bonds weakens
- Asian banks fail to gain foothold in Australia
- Marais calls for wider board net
- RBA concern over DIY funds’ exposure to international shares
- Why property and SMSFs don’t mix
- Wasiliev | How to top up your post-retirement super fund
- Capital raisings have been all risk for little reward
Lifestyle
Grand dames lead the charge
The market is on the move again – with well-maintained older houses especially popular.
Colour is the new white
Neutral shades are so last year. Architects are increasingly drawing from a vibrant palette of hues to create areas of interest within (or on the exterior) of a house.
Beechworth bursting with great Victorian cuisine
Behind the rich, gold-rush era facade are all the ingredients for a gourmet getaway including the divine Provenance restaurant.
Embrace Argentina’s cash economy and save
Getting more bang for your holiday buck through unofficial sources is widely accepted.
Latest TV
Market Minutes | Shutdown, rates and jobs
Perpetual’s Matt Sherwood says calmer heads will prevail in the US, the RBA’s done cutting the interest rate and also previews next week’s job data. 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
Uniqlo debuts
Uniqlo Australia CEO Shoichi Miyasaka has set himself a massive challenge to make the label Australia’s number one brand. More AFR 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
