Hockey upbeat on US as Fidelity exits Treasuries
Treasurer Joe Hockey is upbeat about a resolution to the deadlock that has shut down the US, urging Australians not to panic, even as Fidelity Investments, one of the world’s largest buyers of US government debt, liquidated its Treasury securities.
BoQ back in the black with $186m profit
Updated | Bank of Queensland has posted an annual profit of $186 million despite soft economic conditions in the state as a significant reduction in bad debt helped it reverse last year’s $17 million loss.
Holden says no to Abbott car export plan
General Motors Holden has rejected as unrealistic an Abbott government demand that it boost exports in return for ongoing taxpayer-funded industry assistance.
New jobs will be top priority in Yellen’s Fed
Janet Yellen’s first public words after being nominated as the next US Federal Reserve chairman suggest she may finally be able to connect the wonkish central bank with the American public.
Wall St rises on Yellen, debt ceiling hopes
Before the Bell | Shares on Wall Street are now higher on hopes for steady Fed stimulus and a debt ceiling deal ■ Dow up 0.2pc ■ SPI futures down 23 pts ■ $A at US94.46¢.
Don’t return Murdoch as Fox chairman: ISS
Rupert Murdoch should not be re-elected as chairman of 21st Century Fox, recommends advisory group Institutional Shareholder Services, due to issues in the company’s governance.
WorleyParsons steps away from Leighton scandal
WorleyParsons has seized on Leighton Holdings’ bribery allegations to stress the engineering group has “zero tolerance” of corrupt practices amid concerns the scandal could damage its own reputation.
Court hears Rinehart’s trust changes hidden from daughter
The country’s richest person, Gina Rinehart, allegedly “fundamentally” breached her duty as trustee when she altered the family company’s constitution during a multibillion dollar joint venture with Rio Tinto.
Early repeal of carbon price could cost government $2bn
The Coalition government could owe companies billions in refunds for freely allocated permits if it repeals the current Carbon Pricing Scheme before 2015, fresh analysis by RepuTex shows.
Banks rediscover appetite for riskier home loans
Banks have rediscovered their appetite for risky lending, with nearly three-quarters of home loan products on offer now requiring just 5 per cent deposits or less.
Ultra-high definition TV the way of the future
LG’s Ultra High Definition TV has an incredible picture quality; it will be even better when there’s content to go with it.
Meet 2013’s 100 Women of Influence
The finalists in the 100 Women of Influence awards include well-known businesswomen, such as Elana Rubin and Carol Schwartz, and women with lower public profiles who have made significant contributions to the community.
Investors tip $200m into John Sevior’s Airlie
Wealthy investors have backed John Sevior and David Cooper’s investment strategy, tipping close to $200 million into Airlie’s Concentrated Share Fund.
Newcrest Mining might raise capital, investors say
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Management and board changes at Newcrest Mining have investors and analysts re-assessing an equity raising to bring the company’s debt levels back to more conservative levels.
A case for Wall Street to panic
Comment | By staying cool, the markets are making a crisis more likely.
Delusions of the true believers
Editorial | After its stunning election loss in September, the Labor party needs to separated from its union base and dragged back to the centre.
Free speech is Abbott’s first victim
Mark Latham | The Abbott government’s commitment to a new era of free speech turned out to be as bogus as its taxpayer-funded travel expenses.
Yahoo! Japan abolishes fees in rich list fight
Yahoo! Japan, chaired by Masayoshi Son, Japan’s second richest man, has abolished fees for online stores selling goods on the company’s websites.
Radio faces new waves of in-car change
Commercial radio has maintained its share of the advertising market, but in-car applications and internet connectivity could prove a threat.
What Funke Kupper wants for his self-managed super fund
Elmer Funke Kupper is just as keen as anyone for the planned review of Australia’s financial system to widen the investment options available to SMSF funds.
Australia tops global rich list, but ‘losing momentum’: Credit Suisse
This is a bit rich. Literally. Credit Suisse have released their Global Wealth Report for 2013, and found Australia has held its spot as one of the wealthiest countries in the world.
Chopper Read dies after battle with cancer
Crime figure and author Mark “Chopper” Read has died following a battle with liver cancer.
Australian adults better at words than numbers
Australia’s adult population ranks among the highest in the developed world in literacy but is only average in numeracy according to the OECD’s first ever international survey of adult skills.
Court hears Rinehart’s trust changes hidden from daughter
The country’s richest person, Gina Rinehart, allegedly “fundamentally” breached her duty as trustee when she altered the family company’s constitution during a multibillion dollar joint venture with Rio Tinto.
National
Holden says no to Abbott car export plan
General Motors Holden has rejected as unrealistic an Abbott government demand that it boost exports in return for ongoing taxpayer-funded industry assistance.
- PM backs bigger world role for ‘our friend’ Japan
- Labor leadership contest looks a tight finish
- Palmer talks up Muir ahead of Senate deal
- Australians tired of propping up manufacturing: report
- Early repeal of carbon price scheme could cost government $2bn
- Leighton’s King ‘not of good repute’: report
- ACCC doesn’t plan another review of GrainCorp offer
- Court hears Rinehart’s trust changes hidden from daughter
Mossgreen puts head above ramparts
Melbourne’s Mossgreen auction house is having a big year. It started in April with a capital injection from wealthy former engineer Jack Gringlas that effected a merger with stamps and collectibles firm Charles Leski and the purchase of the former Sotheby’s saleroom, the historic Armadale Picture Theatre.
Opinion
Israeli documentary remarkable for its integrity
In this year’s Academy Awards Israeli documentary The Gatekeepers was favoured, but in the end it lost out to Searching for Sugar Man made by the Swedish director Malik Bendejelloul.
It’s not just about trade deals but also reforms at home
The challenge is to drive Australia’s free trade agenda forward. But in addition to locking down trade deals, there are still reforms to be taken at home.
Aggressive banks a signal for borrowers to be wary
The real victims of aggressive bank lending are largely the borrowers.
World
New jobs will be top priority in Yellen’s Fed
Janet Yellen’s first public words after being nominated as the next US Federal Reserve chairman suggest she may finally be able to connect the wonkish central bank with the American public.
- Consensus emerging on debt-limit increase
- Fed’s latest meeting minutes show deepening divide
- HP’s Whitman expects revenue stability in 2014
- Shift to a new climate by mid-century
- The Financial Times to print single global daily edition
- South Korea suspends some US beef imports
- European lawmakers tighten rules on fracking
- China’s Bo Xilai appeals life sentence
Humans to set foot on Mars by 2033: former NASA director
More than 3.2 million people tuned in to watch the Curiosity rover land on Mars last year, but billions more could see humans set foot on the red planet as early as 2033.
Business
Hockey upbeat on US as Fidelity exits Treasuries
Treasurer Joe Hockey is upbeat about a resolution to the deadlock that has shut down the US, urging Australians not to panic, even as Fidelity Investments, one of the world’s largest buyers of US government debt, liquidated its Treasury securities.
- BoQ back in the black with $186m profit
- Don’t return Murdoch as Fox chairman: ISS
- WorleyParsons steps away from Leighton scandal
- PMP to raise $40m via bond issue
- Investors tip $200m into John Sevior’s Airlie
- McAleese delays float after grounding tankers
- ACCC would look at Westpac-Lloyds deal: Sims
- Peter Hay named Newcrest chairman
- Cheese deal is ‘business, not politics’
What Funke Kupper wants for his self-managed super fund
Elmer Funke Kupper is just as keen as anyone for the planned review of Australia’s financial system to widen the investment options available to SMSF funds.
Technology
Humans to set foot on Mars by 2033: former NASA director
More than 3.2 million people tuned in to watch the Curiosity rover land on Mars last year, but billions more could see humans set foot on the red planet as early as 2033.
- Silk Road accused to head to NY
- Global hunt kicks off as Woolworths tech chief quits
- Visionstream refutes Tasmania NBN delay claims
- HP’s Whitman expects revenue stability in 2014
- 'Tech stress' builds with proliferation of gadgets
- Samsung launches curved Galaxy Note
- Yahoo! Japan abolishes fees in rich list fight
- Optus, Telstra duel in the cloud may start to slow
- Welcome, Google-rail
Ultra-high definition TV the way of the future
LG’s Ultra High Definition TV has an incredible picture quality; it will be even better when there’s content to go with it.
Markets
Wall St rises on Yellen, debt ceiling hopes
Before the Bell | Shares on Wall Street are now higher on hopes for steady Fed stimulus and a debt ceiling deal ■ Dow up 0.2pc ■ SPI futures down 23 pts ■ $A at US94.46¢.
- Hockey upbeat on US as Fidelity exits Treasuries
- US impasse keeps $A in tight range
- Fed’s latest meeting minutes show deepening divide
- Dow, S&P; 500 end modestly higher
- European shares poised to set new highs, poll finds
- Arab Spring to cost Middle East $800bn: HSBC estimates
- Investors tip $200m into John Sevior’s Airlie
- Small stocks to get their big break
- Banks rediscover appetite for riskier home loans
Yellen puts economic theory into practice
When the economists Janet Yellen and George Akerlof hired a baby sitter for their son in the early 1980s, they decided to pay more than the going wage and hit upon an economic theory that guides Yellen’s thinking to this day.
Personal finance
The dove has landed: Janet Yellen for the US Fed
The nomination of Janet Yellen to be the first woman to lead the United States Federal Reserve will increase the chances of the Fed prolonging its unprecedented $US3.5 trillion stimulus that has propped up sharemarkets around the world.
- House buyers follow the sun
- National rents prices stagnate
- Academic urges higher super weighting to property
- NAB’s Clyne urges caution on cutting interest rates
- ANZ chief Mike Smith tells RBA to hold off cutting rates
- Construction sector on the mend as new orders rise
- ASX book-build service an ‘evolution’
- Inflation-linked bonds on the menu as investors guard against inflation
- US debt default would dwarf Lehman
Sinodinos aims high with super reforms
Assistant Treasurer Arthur Sinodinos is doing his best to play down the speed with which the Coalition will reform the corporate governance of superannuation funds.
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
Newcrest Mining cleans house
Newcrest Mining’s overhaul of the board and management is long overdue, although Chanticleer columnist Tony Boyd is surprised at the choice of a lawyer to helm the company. 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
Market Outlook | US debt debate weighs on markets
Business confidence is lifting, although Australian investors are still concerned about the US debt standoff. More AFR TV
Barangaroo financial hub in the making
Nearly a decade in the making, the $6 billion Barangaroo development on Sydney’s last parcel of harbourside land is the city’s biggest urban regeneration project since the 2000 Olympics. More AFR TV
