'Too expensive' - start-ups exit
Australia risks missing out on the digital investment boom as local technology companies increasingly move their operations overseas in search of better regulatory incentives.
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Key Stories
Stocks set to gain on strong leads
Local stocks are set to open higher, buoyed by strong gains in the US and Europe.
IMF to raise global growth outlook
The International Monetary Fund will revise upward its global growth forecast in about three weeks, managing director Christine Lagarde says.
Construction extends recovery run
The construction sector has continued to expand for the third consecutive month but at a slower pace in December, a private gauge has found.
TPG circles in $3b Shell asset sale
Private equity firm TPG is in the final stages of a $3 billion auction for Royal Dutch Shell's refining and retail business in Australia, along with a consortium involving Macquarie Group.
'Private' project used taxpayer cash
The former Labor government of Victoria used taxpayers' money to finance the ongoing $1 billion Royal Children's Hospital redevelopment despite billing it as privately funded.
Jetstar Japan forced to park planes
Jetstar's offshoot in Japan has been forced to keep new planes on the ground because regulators have delayed a decision on whether they will allow the airline to set up a second base in the nation.
Post-Christmas spending to hit $15b
Australian retailers are cautiously optimistic following the holiday season and ensuing sales, with one industry group predicting spending will hit $15.1 billion.
Headline Stories
- Business Food Goodman Fielder sells NZ assets
- Business Takeovers ACCC has concerns over Murray Goulburn's takeover of WCB
- Property Property More misfortune for Australia 108 building
- The Economy Economy Trade gap narrows as imports shrink
Market Indices
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January 8, 2014 - 8:29AM
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Last updated:
January 8, 2014 - 3:35AM
January 8, 2014 - 3:35AM
Currencies
| Last updated: | |
| United States Dollar | |
|---|---|
| 0.8922 | -0.07% |
| Euro | |
| 0.6557 | -0.02% |
| British Pound | |
| 0.5442 | -0.04% |
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Stocks set to gain on strong leads
Local stocks are set to open higher, buoyed by strong gains in the US and Europe.
In Depth
What's missing in Wolf of Wall Street
The man who prosecuted Jordan Belfort says the ending of the movie is beyond insult for Belfort's victims.
How biotech finally boomed
Money is flowing out of mining into biotech, but investing in the sector is not for the faint-hearted.
Five financial predictions for 2014
Happy New Year! For the first time since 2008, we can say these words without irony.
Trading Room
Biotech stocks to watch
If booms and bust characterise investing in resources, then the cycle of long periods of anticipation sum sup investing in early-stage biotechs.
IPOs and cheese wars
Cheese wars and the return of initial public offerings dominated headlines in 2013, but familiar companies captured the best returns for equity investors.
Business News Wire
Markets
S&P500; marks first gain of the year
US stocks advanced, as equities rebounded after a three-day losing streak to give the S&P; 500 its first positive session of 2014.
Stocks set to gain on strong leads
Local stocks are set to open higher, buoyed by strong gains in the US and Europe.
Dollar remains stuck below US90c
The Australian dollar has held its ground as optimism returned to markets helped by the release of some positive US and German economic data.
- Portfolio Cyclicals tipped to lead ASX in 2014
- Commodities Gold steadies after recovering from plunge
- Currencies Dollar treads water ahead of data
- Markets Rough year for world's largest bond fund
- Stocks Biotech stocks to watch
- Equities Market looks for profit growth
- What's on this week Business calendar for January 6 - 10
Why attractive CEOs boost share prices
Search Quotes & Charts
The Economy
Manufacturing declines in December
The manufacturing sector has contracted for the second straight month
Importers, exporters prefer dollar at $US90¢-$1
Most importers and exporters say their ideal level for the dollar is between US90¢ and US100¢, a private survey has found.
- Economy Private sector credit increases in November
- Currencies $A headed for US80¢: BlackRock
- Economy NSW exports fall but recovery is coming
- Retail Midnight shoppers cheer retailers
- Asia ANZ’s Smith upbeat on Australia
- Michael Pascoe There is a barista for everyone
Retail
Christmas cheer served on tablet for some retailers
JB Hi-Fi, Harvey Norman, David Jones and Super Group are among the retailers who are expected to have profited from Christmas spending.
Costco earmarks third Melbourne store
Melbourne will emerge as the jewel in the crown of US discount supermarket giant Costco’s aggressive expansion in Australia with a third warehouse now planned for the city, to be situated at Moorabbin Airport in Melbourne’s south east.
Banking & Finance
Westpac completes $1.45b Lloyds buy
Westpac has completed its $1.45 billion purchase of the Australian commercial lending book of British bank Lloyds.
IAG bumps up reinsurance by $600m
Insurance Australia Group has added an extra $600 million to its multi-billion dollar reinsurance protection this year.
Mining & Resources
Investors cheer new Boart Longyear CFO
Boart Longyear shares spike after it announced Rio Tinto executive Jeffrey Olsen will start as chief financial officer almost a year after his predecessor left.
Woodside-linked gas venture inks $1.3b deal
The Leviathan gas venture in Israel, which Woodside Petroleum is negotiating to join, has sealed its first gas sales contract.
World Business
IMF to raise global growth outlook
The International Monetary Fund will revise upward its global growth forecast in about three weeks, managing director Christine Lagarde says.
Janet Yellen gets green light as Fed chief
For the first time in its history, a woman will take the reins of the world's most influential central bank. Janet Yellen faces a tough task.
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China
Hard landing not seen for China
The recent run of weaker Chinese output data is not troubling economists who dismiss concerns that a sharp slowdown is in store for the year ahead.
China's services sector growth hits two-year low
Growth in China's services sector slowed sharply in December, adding to signs of slowing momentum in the world's second-largest economy.
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Property Focus
Capital city house prices rise 10% in 2013
Capital city house prices rose by almost 10 per cent last year, the highest yearly growth in four years.
Shrewd investors are turning to warehouses
Boom in e-commerce and the rising use of the internet will bring boom-time conditions to the industrial property sector in the coming year.
Sydney CBD office space to get a $2b makover
More than $2 billion worth of office redevelopment is earmarked for Sydney’s CBD in the coming year.
Pub float may add life to listless REITs
- Property CFS Retail to internalise in $460m deal
- Property Disgraced developer reportedly dies
- Residential Melbourne vacancies soar
- Executive moves REA chief Greg Ellis resigns
Brutalist icon to make way for Perth CBD hotel
Ratings tool crucial to lifting sustainability standards
Sustainability in the design and construction of new office buildings has been a focus in Australia for more than a decade.
Executive Style
The top 10 bosses from hell
Fiction's very worst bosses - be very thankful they'll never turn up in your office.
Money
Always after more, no matter the cost
A new study finds people have an instinct to earn more than can possibly be consumed.
Classic cars, watches give best returns
Classic cars and watches, rather than traditional stock markets, are where the most impressive returns can be found.
Small Business
How to become a morning person
Even night owls can learn to be an early bird.
Office jargon: the worst culprits
Office jargon can be confusing, pointless and convoluted. Which phrases are the worst culprits?
Business Video
A little perspective over Christmas
Was Joe Hockey blocking ADM’s Graincorp bid something the new government got right but received no praise for?
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Comment & Analysis
Looking to post a profit in a dead-letter world
Regulatory tricks, to their credit, in our interest
Proposed $6 GP fee would hurt the poorest