Qantas on credit watch as Truss gives cold shoulder to bailout pleas
Deputy Prime Minister Warren Truss has dealt a blow to Qantas saying the federal government is reluctant to support the national carrier. The comments came as Moody’s placed the airline on review for a possible downgrade to its investment grade rating because of its deteriorating financial situation.
Equities slide as US growth accelerates
Before the Bell | Fresh data showing strength in the US economy is encouraging investors to pare some holdings ■ Dax down 0.4pc ■ Dow slips 0.2pc ■ SPI futures down 17 pts ■ $A at US90.64¢.
Greens’ debt deal backfires on Coalition
The Coalition’s deal with the Greens to eradicate the debt ceiling could backfire with the minor party saying the move paves the way to increase spending and oppose budget cuts.
Brian McNamee tipped to head competition inquiry
Former CSL chief Brian McNamee, who is regarded as one of Australia’s most successful business strategists, has emerged as the frontrunner to lead the government’s wide-ranging competition inquiry.
Woolworths’ Grant O’Brien talks supermarket tactics
Woolworths CEO and former footy player Grant O’Brien still draws on lessons from his upbringing in rural Tasmania.
Austerity ended Treasury’s China wine party
Treasury Wine Estates’ flagship label, Penfolds, is being heavily discounted in China, raising doubts about its ability to maintain fat margins in one of the world’s most promising liquor markets.
ATO culture is ‘outdated’ and ‘risk-averse’, review finds
A review handed down by Australian Public Service Commissioner Stephen Sedgwick says the 100-year-old ATO needs to review its structure and practices to become more innovative
US third-quarter growth revised up to 3.6pc
The US economy grew faster than initially estimated in the third quarter as businesses aggressively accumulated stock, but underlying domestic demand remained sluggish.
Qld takes court action against IBM
The Queensland government is seeking damages from global information technology company IBM over its handling of the botched health payroll project.
ICAC’s party funding probe fills in more blanks
The NSW Liberal Party has discovered $379,000 of undeclared donations after the Independent Commission Against Corruption started investigating its funding of the party’s election campaigning.
The Wolf of Wall Street
Before his fall from grace, John ‘The Wolf of Wall Street’ Belfort earned $50 million a year. Now he’s wary of becoming a slave to his brand.
Bank branch meets bar: what the experts say the future holds
Call it beer money. Experts with an eye on the world of tomorrow predict sweeping changes to our lives, including bank branches that double as cafes during the day and bars at night.
High octane holidays for executive thrill seekers
For driven executives lounging around by a pool is not the way to unwind.
Buyers circle PEP’s Energy Developments
Veda Group’s strong sharemarket debut on Thursday has flushed out some detail about the portfolio asset Pacific Equity Partners is turning its attention to next.
Oui! Let the old farts work longer
The late columnist offers his unique take on why early retirement is not all it’s cracked up to be.
The perfect gift for the wine lover in your life
Finding something special for the wine connoisseur in your life just got a little easier.
Record revolution
Hammers were hammering in a storefront in Brooklyn, a typical scene of retail construction in every way except for what was being built: a record store.
NSA tracks 5 billion phones worldwide
The National Security Agency is gathering nearly 5 billion records a day on the whereabouts of mobile phones worldwide, say secret documents.
Soros among Nine investors
Nine Entertainment will hit the market valued at $1.9 billion, and George Soros is among those understood to have made an investment.
Nigella Lawson admits she took cocaine
Celebrity chef Nigella Lawson has told a court she’s taken cocaine in the past, but says the idea she’s a drug addict is ridiculous.
Art that lights up the night
Artist Yann Kersalé has overseen the test run of Sea Mirror, an artwork that hangs above Frasers Property’s newest apartment complex.
Bradman ‘would love’ the peace oval
The redeveloped Adelaide Oval will host its first major sporting fixture when the second Ashes Test begins.
Every shop in the world where you can spend Bitcoins
More than 30 businesses in Australia and about five in New Zealand accept bitcoins as a form of payment, according to a map that pinpoints bitcoin friendly places.
Tablet sales running out of steam: study
Tablet computers have been one of the hottest items in tech in recent years, but sizzling growth is likely to slow in the coming years, a market tracker says.
National
Greens’ debt deal backfires on Coalition
The Coalition’s deal with the Greens to eradicate the debt ceiling could backfire with the minor party saying the move paves the way to increase spending and oppose budget cuts.
- Government reluctant to bail out Qantas: Truss
- ICAC’s party funding probe fills in more blanks
- Qld takes court action against IBM
- Sinodinos to ‘have another look’ at clean energy fund
- Brian McNamee tipped to head competition inquiry
- Asia links dip on China investment
- ATO culture is ‘outdated’ and ‘risk-averse’, review finds
- Housing to rise but won’t stave off downturn: report
- Australia-Indonesia political hotline to avert crises
Opinion
We are at population tipping point
The last month has seen a small whirlwind of publications and data releases on demographic change, supporting the idea that we are living longer – one of humanity’s triumphs. But it brings with it the need to adjust institutions and policy to accommodate a changing demographic structure.
Shell goes large while other gas companies downsize
After years of going for scale in gas, a strange thing is happening: companies are downsizing.
The bilateral ties that bind Qantas are its biggest problem
The Qantas debate has been about whether the airline should get government help or foreign investment to offset its high cost of capital. But there is another avenue for Qantas, which deals with one of the most fundamental problems it faces.
World
ECB expects prolonged period without inflation
Euro zone inflation will stay well below target for the next two years and the European Central Bank is ready to act if necessary to lift a listless economy, president Mario Draghi says.
- China Mobile still talking to Apple on iPhones
- US third-quarter growth revised up to 3.6pc
- Britain to apply property tax on foreigners from 2015
- Eni CEO first to meet publicly with Iran oil minister
- Open for business Korean style
- US SEC likely to vote behind closed doors on Volcker
- US fast-food workers protest low minimum wage
- Bank of Ireland shares go to state rescue payback
- Putin, Europe face off over Ukraine
Japan faces consumption tax challenge
Picked up out of the doldrums by radical policies known as Abenomics, Japan faces an uphill battle to beat this year’s economic performance next year, according to economists.
Business
Government reluctant to bail out Qantas: Truss
Deputy Prime Minister Warren Truss has dealt a blow to Qantas saying the federal government is reluctant to support the national carrier, as Moody’s threatened to cut their credit rating.
- CEFC vital for investment: farmer
- Healthscope fronts investors as owners weigh $4b listing
- Woolies top job end of corporate line for O’Brien
- Zip looks boiling hot as it weds Quadrant with $300m dowry
- CSL bleeding control drug likely to have big US impact
- Court asked to rule in Brickworks battle
- Housing to rise but won’t stave off downturn: report
Austerity ended Treasury’s China wine party
Treasury Wine Estates’ flagship label, Penfolds, is being heavily discounted in China, raising doubts about its ability to maintain fat margins in one of the world’s most promising liquor markets.
Technology
NT threatens to take legal action against Fujitsu over cost blowout
Updated | The Northern Territory government is considering legal action against global IT services provider Fujitsu after a botched technology upgrade saw costs blow out from $7 million to more than $50 million.
- Canberra blitzes states with NBN take-up rates
- Facebook, Google and Twitter hit as experts uncover 2m stolen online passwords
- $8m Microsoft Kinect research centre opens in Melbourne
- Sydney consumers get first bite at food order app
- NSA tracks 5 billion phones worldwide, Snowden documents show
- TPG chief defends fibre plan
- Dick Smith shares flat after debut
- Google Android creator leads new robotics lab
- Carl Icahn steps up pressure on Apple buyback plan
The best gadget gifts this Christmas
Take a look at the latest gadgets sure to bring joy to the technology-obsessed this Christmas.
Markets
Equities slide as US growth accelerates
Before the Bell | Fresh data showing strength in the US economy is encouraging investors to pare some holdings ■ Dax down 0.4pc ■ Dow slips 0.2pc ■ SPI futures down 17 pts ■ $A at US90.64¢.
- ECB expects prolonged period without inflation
- Wall St dips after mixed data; Apple rises
- European shares sink on central bank policy concerns
- Qantas faces huge challenges to preserve ratings
- Coalition’s debt ceiling deal not enough, say experts
- Yields on US Treasuries rise to three-month highs
- PM Capital chief looks to take SMSFs abroad
- Banks lead biggest share sell-off since August
Goldman, Macquarie bicker over Dick Smith IPO: report
Tensions have emerged between Goldman Sachs and Macquarie Group over Anchorage Capital Partners’ $520 million listing of retailer Dick Smith.
Personal finance
A little vision goes a long way for Darwin optometrist
After 15 years of building her optometry practice in the Northern Territory, Helen Summers now finds herself at the leading edge of innovation.
- Festive pressure doubles the heat in housing market
- Cheer our real heroes, says this legal rock star
- Why the dollar may force the RBA’s hand
- Big four banks becoming risky, expensive: Aberdeen
- Newcrest capital raise issue flares up again
- Bleak warning on resources ventures as downturn bites
- Tough day as Bis pulls $1bn float, Forge saved
- Online GST to be decided by March
Buy a business to retire on
Against the backdrop of a public debate that includes suggestions Australia’s retirement age be increased to 70, a reader has asked about a DIY super investment idea that could certainly fit with an era where older Australians are more active in their retirement.
Lifestyle
The best gadget gifts this Christmas
Take a look at the latest gadgets sure to bring joy to the technology-obsessed this Christmas.
Home is where the designer collaboration is
Fans of art and fashion are loving the trend by big labels to expand into home decor and kitchenware.
The perfect gift for the wine lover in your life
Finding something special for the wine connoisseur in your life just got a little easier.
Gifts for him
Travel | For maximum wow factor and bragging rights, you can’t go wrong with one of these experiences.
Latest TV
Nine looking fine after float
Channel Nine's drive for market share and promising 4% yield should appeal to investors, says columnist Tony Boyd.
Abbott gathering momentum for reform
Prime minister Tony Abbott assured a dinner of business leaders in Sydney the government is committed to competition reform and remains "open for business"
Boral blasts business conditions
Boral's CEO Mike Kane has issued a broadside at Australian business conditions and costs of living, plus a blast at unions and a call for coal seam gas development.
Price uncertainty over Westfield restructure
Westfield wants to turn its retail trust into a an internally managed, Aussie focused entity. Reporter Mercedes Ruehl looks at the responses so far to the restructure plan.
