Super fund members forced to rejig pensions
Superannuation fund members will be forced to alter their pension arrangements in order to maintain the age pension and other Centrelink income support payments at their current levels from January 1, 2015, when account-based pensions will be treated in the same manner as other financial assets when calculating payments.
Big miners weigh on the sharemarket
The local sharemarket was led down by metals and mining stocks as exports of iron ore and coal to China declined.
Economists dismiss China output data concerns
The run of lacklustre PMIs is not a cause for alarm as economists anticipate slower growth that will have ramifications for the Australian dollar in 2014.
ASIC approves managed fund trading platform
The ASX’s attempt to establish a trading platform for managed funds was given a boost on Tuesday when ASIC approved the project, which will enable individual investors to buy and sell units in such funds in the same way as shares.
Woodside-linked Leviathan inks $US1.2bn gas deal
The Leviathan gas venture in Israel, which Woodside Petroleum is negotiating to join, has sealed its first gas sales contract, a $US1.2 billion deal with Palestine Power Generation Company.
Tabcorp signs up first NSW pokies customer
Updated | Tabcorp has signed up the first New South Wales club to its fledgling poker machine services business but experts say persuading customers in the state to pay for such services could be a tough sell.
Dexus on the front foot in CPA battle: analysts
The Dexus consortium is the more likely victor in the battle to acquire the Commonwealth Property Office Fund (CPA), according to analysts and fund managers.
Dollar drops as trade deficit narrows to $118m
Updated | Australia’s trade deficit narrowed sharply to $118 million in November as imports fell while exports remained flat, with the dollar dropping as low as US89.27¢ in the wake of the data.
Christmas cheer for electronics retailers
JB Hi-Fi, Harvey Norman, David Jones and Super Group are among the retailers who are expected to have profited from Christmas spending, benefiting from the popularity of giving computer tablets as gifts.
Murray Goulburn eyes 19.9pc Warrnambool stake
Murray Goulburn has flagged its intention to buy Warrnambool Cheese & Butter shares on market at prices up to $9.50 to take its stake up to 19.9 per cent.
Chinese buyer ahead in race to buy Sydney’s Bishopscourt
A Chinese buyer is poised to become the new owner of $25 million Sydney historic mansion and former Anglican Archbishop’s residence, Bishopscourt.
Intel launches RealSense, giving PCs human-like senses
Hoping to add some value to PCs to make people want them all over again, Intel has launched a new line of computer sensing technology it’s calling Intel RealSense.
Time to get back into bonds?
Philip Baker | Bond investors were among the losers in 2013 – but after last year’s sell-off, fixed income is looking like better value.
Morgans lobbies for NuCoal client compensation
“Innocent investors” of NuCoal should be compensated if its major asset’s licence is pulled, according to Morgans equity analysts James Wilson, Chris Brown and Tom Sartor.
Polar freeze grips US, disrupts business
A blast of Arctic air has gripped the vast middle of the United States, forcing businesses to close and cancelling thousands of flights.
Michael Bay bombs at Samsung CES event
Helping to launch new Samsung TVs, Hollywood director Michael Bay fluffed his lines, panicked and then stormed off the stage.
Bitcoins exceed $US1000 again
Zynga is the latest merchant to accept Bitcoins, which can be used to buy virtual items in online games.
How financial news moves the sharemarket
The amount of data available to traders is growing quickly, but research indicates a mention of a company in a financial newspaper is closely linked to a move in stock price.
Apple confirms acquisition of SnappyCam app
Apple has acquired a smartphone app that turned the iPhone 5 into a camera capable of shooting 20 high-quality photos in one second.
Sydney is world’s 11th most expensive city
Sydney is the 11th-priciest city in the world, a crowd-sourcing exercise shows – but it’s still 25 per cent cheaper than first-placed London.
Energy networks struggle in Qld heatwave
Queensland’s electricity network was under pressure over the weekend.
Making sure Miles stays forever young
Some musical estates have foundered due to quarrels among the heirs. Not so with the legend that was Miles Davis.
Today new HQs ... tomorrow, the world
The giants of the digital world are building new headquarters as lavish as palaces. But for workers, the new culture cuts both ways.
National
Dollar drops as trade deficit narrows to $118m
Updated | Australia’s trade deficit narrowed sharply to $118 million in November as imports fell while exports remained flat, with the dollar dropping as low as US89.27¢ in the wake of the data.
- Christmas cheer for electronics retailers
- Turned back asylum boat tests Indonesia ties
- Coalition won’t punish carbon emission failures
- Asia policy needs dose of humility, says Deutsche’s Rankin
- Super fund members forced to rejig pensions
- Public wants tougher sentences for corporate crime
- New bill would scuttle China free trade deal
- No plan to privatise Australia Post: Turnbull
- Australian-made car sales dive to record low
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Queensland coast still a buyers’ market
Vendors who bought Queensland luxury coastal property several years ago are still copping heavy losses, but a recovery is expected to start filtering through in 2014.
Opinion
Health reform tougher than $6 ticket for GP
Changing the health system is hard. It takes time. Although a $6 slap down of consumers may be fiscally attractive, it does nothing to change the fundamentals of the health system and is a distraction and does more harm than good.
What euro crisis watchers should look for in 2014
The euro crisis is not over, but one important shift has taken place. The policy debate has concluded.
How Obama can get his groove back
President Barack Obama had a miserable 2013 after a backlash to his healthcare plan and a plummet in his public standing, but if he plays his cards right his mojo could return in 2014.
World
Yellen confirmed as US Fed chairwoman
Updated | The US Senate has confirmed Janet Yellen as the chairwoman of the Federal Reserve, marking the first time that a woman has led the country’s central bank in its 100-year history.
- UK’s Osborne pushes for more welfare cuts
- Germany's Merkel breaks pelvis while skiing
- US business bankruptcies fall to 8-year low
- Samsung Electronics profit falls 18pc to $8.7bn
- Xbox One sales top 3 million, no new Sony data
- Turkey’s economic model under pressure
- Wife of uncle executed by Kim is dead: South Koreans
- Fears as al-Qaeda gains foothold in western Iraq
- Polar freeze grips US, disrupts business
Business
Woodside-linked Leviathan inks $US1.2bn gas deal
The Leviathan gas venture in Israel, which Woodside Petroleum is negotiating to join, has sealed its first gas sales contract, a $US1.2 billion deal with Palestine Power Generation Company.
- Tabcorp signs up first NSW pokies customer
- Dexus on the front foot in CPA battle: analysts
- Murray Goulburn eyes 19.9pc Warrnambool stake
- NAB, ANZ lose most from super switching
- OceanaGold drops gold production forecast
- Boart stock boosted with CFO hire
- Costco to build third Melbourne warehouse
- WA miners recover from Cyclone Christine
Deutsche Bank on road to reform
Deutsche Bank’s corporate banking chief says investment banks will rack up more fines for misconduct this year, but maintains the industry has curbed behaviour that led to the GFC.
Technology
WiFi rollout a marketing play, says iiNet
iiNet acting chief executive David Buckingham says WiFi hotspots cannot generate enough revenue to be a standalone business for his company and rejected reports the company is planning to roll out tens of thousands of devices nationwide.
- Bitcoins exceed $US1000 again
- Michael Bay bombs at Samsung CES event
- Xbox One sales top 3 million, no new Sony data
- Wearable computers lead new mobile app wave
- Samsung Electronics profit falls 18pc to $8.7bn
- Ireland aims to rekindle a tech recovery
- Bubble fears as tech companies see $1b valuations rise
- Apple snaps up photo app pioneer’s firm
- Taiwan’s HTC swings back to profit in Q4
Tech giants’ tiny tax bills ‘depressing’
David Cameron’s government is accused of overseeing a ‘tax bonanza’ for tech giants, after seven US companies including Apple and eBay only paid a combined UK tax bill of just £54 million ($99 million) in 2012.
Markets
Big miners weigh on the sharemarket
The local sharemarket was led down by metals and mining stocks as exports of iron ore and coal to China declined.
- Economists dismiss China output data concerns
- International investment rule divergence could hurt profits
- $A falls on trade data, but still above Dec lows
- Dollar drops as trade deficit narrows to $118m
- Yellen confirmed as US Fed chairwoman
- Wall Street ends lower for third day on mixed data
- US services sector slows, factory orders rise
- Copper steadies near two-week lows on China worries
- Spain leads European shares higher after data boost
Investors count days to a golden renaissance
Real interest rates are likely to rise further given the US Federal Reserve is tapering amid low inflation – and real yields seem to drive gold.
Personal finance
Household wealth hits new record
A combination of rising house prices, surging equity markets and an entrenched savings culture pushed average Australian household wealth to a record $872,000 in 2013, according to Outlook Economics.
Investors seek advice as confidence grows
Australians are expected to seek more financial planning advice in 2014 after years of shunning advisers, thanks largely to improving investor confidence and appetite for riskier assets.
Lifestyle
Summer food series 5 | Shane Delia
In this final instalment of our stunning series, Shane Delia of Maha restaurant in Melbourne creates a Middle Eastern feast
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.
Beachside glamour in Rio
Some say a Rio hotel is just for cleaning off the sand. For those who prefer to do so with a marble soaking tub, there’s the Palace.
Cars: the very best 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.
Latest TV
Property outlook
Australian Property Monitors' Dr Andrew Wilson and Belle Property's Matthew Smythe look at what 2014 will bring for the property sector.
Ageing Australia
It is not just about the numbers, though they are large: Australian Bureau of Statistics figures released late in 2013 estimate the population will more than double to 48.3 million by 2061.
Hot housing market
In Australia’s two largest cities, Sydney and Melbourne, dwellings are now 14.5 per cent and 8.5 per cent more expensive, respectively, than they were in December 2012.
Where is the housing market heading?
The housing market is under close scrutiny as Columnists David Bassanese and Christopher Joye look at what the coming year will bring for the sector.
