Mid-year economic review is only half of it
Laura Tingle | The task of the 2013 mid-year review was to draw a line under three months of ‘blame game’ politics, and to write off the policy problems the new government found in the books when it came to office.
Government, Qantas may strike debt deal
The federal government and Qantas Airways are working together on a final proposal that would help the airline to level the playing field against rival Virgin Australia Holdings without guaranteeing all of its debt.
CBA to sell retail trust rights for $500m
The Commonwealth Bank has reached agreement with the independent directors of the $5.4 billion CFS Retail Property Trust Group over the sale of the bank’s management rights to the trust.
US judge questions legality of NSA taps
A US federal district judge has ruled the National Security Agency program that is systematically keeping records of all Americans’ phone calls most likely violates the constitution, describing its technology as “almost Orwellian”.
KPMG looks to Walker Corporation for Barangaroo lease
Accounting firm KPMG will sublease part of its intended office space at Sydney’s billion-dollar Barangaroo office precinct.
GST proposal could see rise in stamp duty
A change proposed to GST arrangements by assistant treasurer Arthur Sinodinos raises the possibility of a rise in stamp duty on many commercial and rural property transactions.
Austin in trading halt as Bradken proposes deal
Updated | Mining services company Bradken is seeking to take over Austin Engineering, according to a deal term sheet sent to prospective Austin investors.
Shares higher as world looks rosier
Local shares gained despite a worsening federal budget outlook, as investors focused on an improving global growth outlook.
Takeovers Panel orders Saputo to lift WCB bid
Updated | The battle for Warrnambool Cheese and Butter has hit $9.60 a share, after the Australian Takeovers Panel ordered Saputo to raise its bid for the milk processor.
CommSec compliance breaches spark investigation
An independent expert will conduct an investigation into Commonwealth Bank of Australia’s online broking arm, CommSec, after it admitted to compliance breaches dating back to October 2005.
Fed secures two key triggers to begin taper
The United States Federal Reserve is armed with enough positive economic information to take the first step this week to unwind its unprecedented $US3.8 trillion stimulus.
Beyoncé reinvents music marketing
When Beyoncé released her latest album, she didn't follow the usual promotional script. Instead, she wrote, ‘Surprise!’ to her more than 8 million Instagram followers, and the full album – all 14 songs and 17 videos of it – appeared for sale on iTunes.
Coalition dancing around the GST and pension options
Alan Mitchell | The huge challenge facing Tony Abbott and his Coalition government is bringing the budget back into sustainable surplus without rattling the weak economy.
Saputo ups the ante for Warrnambool
Matthew Stevens | Gary Helou has secured a moral victory at the Takeovers Panel but nothing like the Saputo momentum stopper he was looking for in the wildly unlikely and increasingly rich contest for Warrnambool Cheese & Butter.
BP considers sale of $3bn Aussie downstream assets
London-listed BP is mulling a $3 billion sell-off of its Australian refineries and petrol stations, joining a growing list of oil giants reassessing their involvement in the industry.
That $2.5 million classic Jaguar may be fake
In the 1930s, British sports-car maker MG made exactly 33 of the K3 open-top race car, now, there are more than 100.
NZ ponders future of hobbit country
Another war is brewing in Middle Earth, as environmentalists resist a major rail project.
Apple reveals top app downloads of 2013
Candy Crush Saga was the No. 1 most downloaded free app for the iPhone in 2013, according to Apple.
Singapore Airlines opens new Sydney lounge
Singapore Airlines has opened its new SilverKris lounge at Sydney Airport after months of renovations.
NRL’s Sharks fined $1m, coach suspended
The Cronulla Sharks have been hit with a proposed $1 million fine and their coach Shane Flanagan provisionally suspended for 12 months.
What Warren Buffett wants in an entrepreneur
If you don’t love what you’re doing, don’t ask Warren Buffett to back you.
Blood flows at Toyota, usually Fridays
Dozens of Toyota Australia workers routinely take off a few hours to give blood and they do it at the same time, on a Friday afternoon.
Lloyd's of London appoints first female CEO
325-year-old insurance market Lloyd's of London has appointment of its first female chief executive – industry veteran Inga Beale.
Distillers tap Asia’s appetite for top-shelf whisky
The UK’s Whisky Shop considers the “high end” market segment to start at £1000 a bottle – a threshold Chinese students can be happy to step over.
Diamond dealing loses its sparkle
Long-held bonds between bankers and gem traders come under close scrutiny amid claims of murky dealings.
National
Hockey demands deep budget cuts
The federal government has set the stage for long-term spending cuts in welfare, health and education after forecasting combined deficits of $123 billion over the next four years, a decline in growth, and gross debt to hit $667 billion in a decade.
- Agencies monitor Hockey’s response to debt
- MYEFO labour forecast: jobless rate to rise, wages growth to slow
- CEFC will still be scrapped despite making money
- Qld on credit watch as debts dwarf NSW, Victoria
- Government, Qantas may strike debt deal
- Telstra keeps mum on value of copper network
- Plenary awarded $550m contract for new schools
Treasurer sets foot on political tightrope
Joe Hockey’s first big day out as Treasurer was like a new chief executive who inherited a corporate basket case and then announced huge write-downs and impairments.
Opinion
The budgetary blame game never has a winner
There has been plenty of finger pointing over the latest budget figures but focusing on who is to blame won’t help.
Limp response to Gonski review means children lose out
Confused, limp implementation of Gonski education review by federal governments past and present stands in stark contrast to the challenge facing education.
Israel’s public paranoia masks private complacency
In recent years, Benjamin Netanyahu has specialised in playing the role of prophet in the wilderness.
World
Chinese hunger for US Treasuries undiminished
China, the largest foreign creditor to the U.S., increased its ownership of Treasuries in October to almost the record level reached in July 2011 after the Federal Reserve unexpectedly opted not to slow bond buying.
- US judge questions legality of NSA taps
- Japan to lift defence spending
- China’s Xi broadens purge of ‘petro faction’
- Russian missiles risk heightened tension
- Fed secures two key triggers to begin taper
- US factory activity gains steam
- JPMorgan to sell Asia business for $US1bn: report
- Charlotte Chou retrial verdict due Friday
- NSA phone records grab 'unconstitutional'
NZ ponders future of hobbit country
Another war is brewing in Middle Earth, as environmentalists resist a major rail project.
Business
Business calls for committed budget reform
Corporate Australia has called on all sides of politics to back tough measures which tackle the nation’s deteriorating fiscal position but warned against sacrificing productivity and economic growth.
- Government, Qantas may strike debt deal
- BP considers sale of $3bn Aussie downstream assets
- Origin chairman calls for energy price regulation to go
- UBS tips IPO pipeline to grow and M&A; activity to rise
- Telstra keeps mum on value of copper network
- KPMG looks to Walker Corporation for Barangaroo lease
- GDI Property slips on debut
- Takeovers Panel orders Saputo to lift WCB bid
- CommSec compliance breaches spark investigation
SunRice boss says innovation the secret ingredient
Woolworths and Coles have found an unlikely ally in their call for food suppliers to step up innovation: Rob Gordon, the chief executive of SunRice, says food manufacturers need to lift investment in innovation and marketing to keep their place on supermarket shelves.
Technology
Scoopon fined $1m over misleading claims
Group buying site Scoopon has been hit with a $1 million fine for making false or misleading claims to its customers and businesses offering deals through its website.
- Contractors seek more money from NBN Co
- Read the fine print: when private doesn’t mean private online
- Strong signal as telco complaints hit six-year low
- No way to future proof NBN: Switkowski
- Tabcorp trials ‘holy grail’ punting software
- US judge rules against NSA phone data collection
- Amazon’s German workers strike as Christmas orders peak
- ATO deploys computers to catch cash economy cheats
Apple iWatch October 2014: second-hand rumour
The smartwatch that Apple has neither confirmed nor denied it is or is not making will be released in October 2014 and will use fancy new wireless charging technology so you don’t need to hook it up to a power supply every evening, according to a report.
Markets
UBS tips IPO pipeline to grow and M&A activity to rise
Deal action in the local equity capital markets picked up in 2013, and looking ahead to 2014 the initial public offering pipeline is tipped to grow, while merger and acquisition transactions also increase.
- Chinese hunger for US Treasuries undiminished
- Shares higher as world looks rosier
- Aussie dollar firmly focused on Fed move
- Westpac’s Evans pushes out rate cut forecasts
- Upbeat data, deals lift Wall St; traders eye Fed
- Record number of S&P500; companies warn on profits
- Germany's DAX leads rebound in European equities
- Sharemarket gains fade in late trade
- Wheelers and dealers who won – and lost – in 2013
Investors find assurance in ‘weight of money’ flow
Amid all the talk about dividends supporting the sharemarket, Clime Investment Management’s John Abernethy makes the point that equity dividends go into a total superannuation pool which is than allocated across asset classes.
Personal finance
How you can invest in foreign companies
Gaining access to international companies has never been easier for investors wanting to diversify their portfolio or take advantage of the still relatively strong Australian dollar.
- Marriage makes all the financial difference when separating
- US recovery bodes well for global REITs
- Miss Limousines founder is driven to make a difference
- Strange forces behind sharemarket fall
- Where the über rich go for ready cash
- Property: proceed with caution
- Magellan vs Platinum: star funds at odds over global outlook
- Why 2014 will be different for investors
The art of winning millions
The eccentric numerati David Walsh ascended from humble origins in a housing estate in Hobart’s blue-collar suburbs to become among the most successful professional gamblers in history alongside friend and mentor Zeljko Ranogajec.
Lifestyle
Summer food series 4: Nathan Sasi
The head chef of Sydney’s Nomad restaurant sparks the culinary imagination with three delicious dishes.
Cars: the very rest of 2013
A few impressive machines for reasons of space and timing didn’t secure a full road test. This is the best of them.
Animal spirits hold sway in a sparkling menagerie
From elephants and pandas to frogs and bees, luxury houses are reviving an ancient tradition in precious baubles.
French Polynesia is peak relaxation
Cruising in your own skippered catamaran is the best way to explore the beautiful South Pacific.
Latest TV
Debelle wary on BASEL-style super rules
RBA assistant governor Guy Debelle isn't convinced BASEL-style liquidity rules should be applied to Australia's growing superannuation sector.
More fat for Aurizon to cut
Senior companies reporter Jenny Wiggins tells associate editor Ky Chow that its difficult to determine what Aurizon's $197 million impairment announcement means as the company has yet to give its full net profit guidance.
Mandela buried in ancestral homeland
After a funeral service attended by 4,500 guests and watched by millions worldwide, Nelson Mandela's body was laid to rest in his boyhood home in Qunu.
Watch review: Frédérique Constant Slimline Moonphase
A thin bezel ensures this classic moon phase stands out. Watch editor Bani McSpedden says it's a bargain compared to similar IWC and Patek Phillipe pieces.
