Top ‘stayer’ fund managers dumped resources stocks: Mercer
Fund managers who ditched resources companies in favour of income-producing stocks gleaned some of the biggest returns for investors over the past three years, according to research house Mercer, which named Perpetual’s Wholesale Ethical strategy as the top performer.
Miners lead Australian shares higher
Australian shares have followed the overnight lead of international markets and recorded a second day of gains, underpinned by the latest set of economic data which suggest the United States economy is accelerating.
Saputo closes in on cheese war victory
Chanticleer | Commercial interests were always going to triumph over ideology and Bega Cheese had no choice in the end but to sell its 18.8 per cent stake in Warrnambool Cheese & Butter to Saputo.
Inflation data expected to reflect $A weakness
Economists predict inflation figures due next week might be the first data set to reflect the impact of a weaker Australian dollar, but won’t trouble the Reserve Bank of Australia.
WA investigates Fortescue’s workplace safety
Four incidents involving worker safety at a Fortescue Metals Group mine are being investigated by the West Australian Department of Mines and Petroleum.
$A drops as number of unemployed rises
The Australian unemployment rate remained steady at 5.8 per cent in December with the number of unemployed across the nation rising by 8000 – sending the Australian dollar down to its lowest level since 2010.
China coal output poised to rise 2.7pc in 2014
Chinese coal production is expected to grow 2.7 percent this year to around 3.8 billion tonnes, with demand also still rising despite a government campaign to cut air pollution, CNCA says.
Strong returns expected for Rio shareholders
Chanticleer | A new era of conservatism in the Australian mining sector is paying dividends for shareholders with strong production numbers buoying the share prices of Rio Tinto, OZ Minerals and Newcrest.
One in three NBN appointments missed, says iiNet
Updated | Australia’s leading provider of national broadband network services, iiNet, has refused to sign a key agreement with NBN Co, warning that doing so could expose it to angry customers as well as financial penalties.
Gambling laws do ‘nothing to control’ sports betting
Sportsbet chief executive Cormac Barry says the $591 million bet on cricket’s Big Bash League at rival Betfair shows laws governing online wagering disadvantage local companies and put sports integrity at risk.
Sales sizzle in the hot weather
Shops in South Australia, Victoria and NSW have been “rushed” by customers looking for air conditioners during the heat of the past two weeks with retailers pulling out all the stops to get a piece of the action.
China’s Zhou Xiaochuan: the leader in monetary stimulus
Move over, Janet Yellen and Ben Bernanke. Step aside, Mario Draghi and Haruhiko Kuroda. When it comes to monetary stimulus, Zhou Xiaochuan, the longtime governor of the People’s Bank of China, has no rivals.
Wall Street’s generation gap
Debate over work hours hints at two Wall Streets, with one senior executive going so far as to refer flexibility as an “entitlement” among the new class of recruits..
Mineral Resources MD buys shares, investors should take heart
Mineral Resources shareholders can take heart in managing director Chris Ellison adding another 65,000 shares to his personal holding, soon after the company sold its Christmas Creek ore processing facilities to Fortescue Metals Group.
Why it may be time to cash in sharemarket gains
Debra Cleveland | Financial adviser Peter Horsfield says it’s time to cash in some of your sharemarket gains, pay off debt and reinvest when the market falls.
Ericsson CEO on Microsoft shortlist: report
Microsoft is considering Ericsson chief executive Hans Vestberg as a possible successor to outgoing CEO Steve Ballmer, Bloomberg has reported.
Heatwave halts Australian Open play
Matches on outside courts at the Australian Open have been suspended after temperatures in Melbourne hit 42.6 degrees on Thursday.
A Facebook alternative to Google AdWords?
Last June, Facebook released a game-changing snippet of code that allows advertisers to track customers clicking on Facebook ads.
Why the latest TV tech matters to you
If you thought the technology choices for your next TV were difficult last year, just wait until this year’s crop appears.
Australia slips in China tourist rankings: poll
A weaker dollar might have made Australia a more attractive destination, but its popularity with Chinese travellers may be on the wane.
Why Westfield split is good for property trusts
Charter Hall’s joint MD David Harrison reckons the upcoming split of Westfield can only be good for the listed property trust sector.
Xero shares retreat from stellar run
Updated | A funny thing happened to cloud accounting software group Xero on Thursday – its share price actually went down from a 28 per cent gain since January, but investors won’t be too worried.
Ex-Babcock banker plots markets return
Trevor Loewensohn’s advisory firm Alceon is looking to start a fund using the remnants of a listed trust created by Allco Financial Group.
Apple to refund parents for kids’ app purchases
Updated | Apple will refund US consumers at least $US32.5 million for mobile apps bought by children without their parents' consent.
National
$A drops as number of unemployed rises
The Australian unemployment rate remained steady at 5.8 per cent in December with the number of unemployed across the nation rising by 8000 – sending the Australian dollar down to its lowest level since 2010.
- Giddings calls Tasmanian election for March 15
- ABCC boosted productivity by $7.5bn: Abetz
- O’Farrell moves to crack down on NSW violence
- Greens attack audit commission secrecy
- Mega temperatures push power watts
- ‘Don’t bash us’, banks ask Murray inquiry
- Joyce wants to increase drought subsidies
- New tax rule targets investors
Property to drive broader economy
Property is in for a bumper year, with higher prices, increased building and more jobs, according to a new survey: the bullish outlook, based on the views of 2500 property professionals, is the strongest recorded in the four-year history of the Property Council-ANZ Property Confidence Index.
Opinion
The great divide on our streets
Australia’s prosperity has a flipside. Globalisation has rewarded the 90 per cent of Australians with skills and qualifications, but punished the 10 per cent who can’t compete.
Failing elites threaten our future
In the past three decades we have seen the emergence of a globalised economic and financial elite.
Need-to-know basis not good enough for investors
Chanticleer | Retail investors have been reminded again this week that they remain at the bottom of the information food chain in Australian equity capital markets.
World
Deutsche Bank suspends traders amid forex probe
Deutsche Bank has suspended several traders amid a series of investigations into potential manipulation of the $US5-trillion-a-day foreign exchange market, according to a person briefed on the matter.
- BofA profit jumps as revenue rises
- Pope shuffles cardinals monitoring Vatican Bank
- China coal output poised to rise 2.7pc in 2014
- US eases Volcker rule provision for smaller banks
- Time Warner investors seen accepting at $US145/share
- New global rules enforced to assess bank customer risk
- Global economy at turning point: World Bank
- Syria’s gays become the forgotten minority
- US producer prices advance, but inflation still tame
Iceland holds a tight grip on its banks
An angular glass building on the waterfront here used to be the headquarters of a banking giant with operations in Europe, North America and the Middle East.
Business
Bega sells WCB stake to Saputo
Bega Cheese has announced its intention to sell its holding in Warrnambool Cheese and Butter to Canadian dairy giant Saputo, in a move that looks set to seal the milk processor’s fate.
- Singapore Airlines forms Air NZ partnership
- Woodside tax benefit raises dividend expectations
- Rio beats iron ore, copper guidance
- Duet to raise $130m for Fortescue gas pipeline project
- WA investigates Fortescue’s workplace safety
- Country Road sale lift after solid Christmas
- Mega cap companies struggle with investor malaise
- AMP appoints senior executives
- ASIC tells brokers to make survey views public
Saputo closes in on cheese war victory
Chanticleer | Commercial interests were always going to triumph over ideology and Bega Cheese had no choice in the end but to sell its 18.8 per cent stake in Warrnambool Cheese & Butter to Saputo.
Technology
Tech security start-ups take on industry leaders
Younger outfits with names like FireEye and Palo Alto Networks are now competing with Symantec and its longtime rival McAfee, which is now part of Intel, for a greater share of a market that is expected to swell.
- One in three NBN appointments missed, says iiNet
- Xero shares retreat from stellar run
- Google’s Nest buy sends worthless Nestor soaring
- Fairfax ads site takes on SEEK
- Facebook’s game-changer takes on Google ads
- HP to launch phone-enabled tablets in India
- Turnbull flags support for equity crowdfunding changes
- Salmat boss ready for transition to digital operations
- AIA Group targets innovation
Why the latest TV tech matters to you
If you thought the technology choices for your next TV were difficult last year, just wait until this year’s crop appears.
Markets
Miners lead Australian shares higher
Australian shares have followed the overnight lead of international markets and recorded a second day of gains, underpinned by the latest set of economic data which suggest the United States economy is accelerating.
- $A slumps to three-and-half year low
- Inflation data expected to reflect $A weakness
- UBS launches dividend-focused ETF in Australia
- Woodside tax benefit raises dividend expectations
- ASIC tells brokers to make survey views public
- Deutsche Bank suspends traders amid forex probe
- S&P; 500 ends at record closing high on banks, data
- $A drops as number of unemployed rises
- World Bank says global growth set to pick up
Investors start to think outside the box
That IFM Investors, one of Australia’s biggest investment funds, is even thinking of backing mining fund X2 Resources, is a sign that large investors are becoming increasingly innovative when it comes to making money.
Personal finance
Life expectancy a ticking time bomb for household savings
Sally Patten | The downside of increased life expectancy is that it needs to be funded – preferably self-funded.
- Superannuation sledging bound to step up a notch in 2014
- The thousand-dollar fines you’ll get for breaking the SMSF rules
- How it feels to hold a stock in freefall
- Why balanced funds are back in business
- Retail returns buoyant but tread warily
- Decmil builds business diversification
- How your kids can get a home of their own
- Why the big banks will still rule
- How to find the right holiday insurance
Long, strong and stable a winning investment strategy
Australia’s top-performing fund manager, Rob Osborn of Lazard Asset Management, avoids the hype of initial public offerings and favours companies with long histories.
Lifestyle
The five most luxurious rail journeys in the world
The best luxury long-distance train journeys allow passengers to travel back in time to a bygone era but don’t forget it’s 2014.
Chef Hirokazu Yano’s quest for perfection
Hirokazu Yano started his chef’s life washing pans, floors, bathrooms. In Japan it is almost the norm.
Indulge in the arts in exquisite places
Culture weekends are a popular way for patrons to experience classical music and dance in gorgeous natural settings.
Porsche’s dazzling performer shares the power
On the limit, Porsche’s 911 Carrera 4S generates enough lateral grip to cause bruising. Yet it is surprisingly forgiving.
Latest TV
Hot stock picks for 2014
Australia's stock market is lagging the rest of the world, but David Walker from StocksInValue tells Bianca Hartge-Hazelman there are opportunities for all risk appetites, whether it's salary packager McMillan Shakespeare or ANZ's Asian banking play.
Property confidence bouncing back
Sentiment within the property industry has rebounded as interest rates remain at record lows. The latest survey by ANZ and Property Council shows the sector is hiring, building and paying more. Property editor Rob Harley looks at the top states and why the drivers are different for the lift in residential versus commercial confidence.
All eyes on US
Fresh data on US retail sales, industrial production and housing will be the focus for investors as they consider how the Fed's thinking may be affected, says associate editor Phil Baker.
CBA on 2014 rates, dollar direction
Forget about rate cuts and instead get ready for a rate rise this year, says Commonwealth Bank's Diana Mousina. He also says there's more room for the Aussie dollar to drop.
