Jakarta ready for clash over border
Indonesia has deployed warships and Air Force Radar to monitor border violations by Australia as the relationship between the countries deteriorates as a result of the Abbott government’s asylum seeker towback policy.
Telstra Super: no comment on Madoff link
Australia’s biggest corporate super fund, Telstra Super, invested in a hedge fund whose directors were caught up in the Bernie Madoff scandal.
Tax, protectionism on G20 agenda
Australia will seek a new international agreement on principles for fair taxation and a commitment to undo recent protectionist measures from the leaders of the world’s largest 20 economies when it hosts this year’s Group of 20 meeting in Brisbane, Prime Minister Tony Abbott says.
Big four, regional players ready bids for Investec
Investec’s $3 billion loan book and professional finance division, which is making about $50 million in pre-tax profit, is generating plenty of interest.
Buffett’s Berkshire said to be in regulators’ spotlight
Washington regulators are starting to scrutinise Warren Buffett’s Berkshire Hathaway to determine if it is important enough to the financial system to require Federal Reserve supervision, according to sources.
Infrastructure boss lashes out
The nation’s top infrastructure adviser has blasted the Abbott government for threatening the credibility of Infrastructure Australia by eroding its independence and muzzling its advice.
Sex films and escorts on Thomson credit card
Women in Uniform, Perfect Pink, 100 per cent Jill, Sweetheart Trilogy and Club Lust 2 were just some of the adult movie titles former federal MP Craig Thomson charged to his union credit card.
Qantas comes out swinging at market share critics
Qantas Airways will not back down from its target of a 65 per cent share of the domestic aviation market because doing so would be like “waving the white flag”, says chief financial officer Gareth Evans.
Weak economy to curtail Melbourne house prices growth
Melbourne house prices seemed to defy market fundamentals in 2013 and despite a spurt in January analysts expect broader factors like rising unemployment and a weaker economy will cool the property market in 2014.
Labour heads warn on fall in wages growth
Prominent labour movement leaders have backed warnings of a continued fall in wages and the prospect of real wage cuts as surprisingly strong inflation and weakening employment darken the economic outlook.
Murray Goulburn withdraws WCB bid, sets sights on Asia
Updated | Murray Goulburn has made a defiant bid to take on rivals Saputo and Bega in the new battlefield over milk products in Asia.
Equity returns not top priority
Finance bosses favour spending excess funds on acquisitions and capital purchases rather than returning money to shareholders in 2014, as optimism remains high buoyed by a falling currency, low interest rates and improving conditions in the US and Europe.
Truly bad year for office towers
Office tenants all round the world are cautious about the future and cutting office space demand. For Australia’s office towers and their owners, 2013 was one of the weakest years on record.
Whitehaven result silences critics
The company has done what it said it would do by delivering on its production targets, with its December quarter production report showing coal production was up 44 per cent to a record to 2.86 million tonnes, on the previous corresponding period.
Big four, regional players ready bids for Investec
Investec’s $3 billion loan book and professional finance division, which is making about $50 million in pre-tax profit, is generating plenty of interest.
Telegraph editor the latest casualty of digital age
Tony Gallagher, the editor of The Daily Telegraph, was sacked on Tuesday.
Bluetongue beer brewery to shut its doors
Dozens of workers are set to lose their jobs after Carlton and United Breweries (CUB) announced it was canning its Bluetongue beer.
Nikon nails retro chic with ‘Df’ SLR
Nikon has tried to evoke old-school cool with its new Df camera, a very modern digital SLR wrapped in a retro body.
Time to embrace real capitalism
Allister Heath | It is a tragedy so many business leaders and politicians don’t understand the difference between free markets and crony capitalism.
Goldman braces for @GSElevator Twitter book
Just when Goldman Sachs might have thought the public had forgiven Wall Street, the @GSElevator tweeter gets a book deal.
Facebook mobile test hints at ad network play
Facebook says it is displaying ads on other companies' smartphone apps in the latest sign it is to launching an ad network business.
Puzzles the clue to mental sharpness in age
Doing just 10 one-hour sessions of brain training over a period of five or six weeks may have the “potential for delaying dementia”.
Classical music left behind by modern retail
For classical music lovers with old-fashioned ideas about buying recordings in Manhattan the choices have dwindled.
Pimco CEO Mohamed El-Erian resigns
Pimco CEO Mohamed El-Erian has resigned and will leave the bond heavyweight in March as part of a leadership overhaul.
National
Infrastructure boss lashes out
The nation’s top infrastructure adviser has blasted the Abbott government for threatening the credibility of Infrastructure Australia by eroding its independence and muzzling its advice.
- Jakarta ready for clash over border
- Labour heads warn on fall in wages growth
- Sex films and escorts on Thomson credit card
- Cassidy retires as broke ACCC faces revamp
- Tax, protectionism on G20 agenda
- Digital age spells the end of Valuation Office
- Scale of drug money laundering is ‘overwhelming’
- Competitive Foods profit triples, but Jack’s still hungry
Commission backs Tasmanian shipping law reform
The Abbott government has received a boost from the Productivity Commisision in its quest to deregulate coastal shipping laws, with a call to expedite the reforms.
Opinion
Welfare ‘blowout’ doesn’t add up
Welfare numbers went down as a proportion of the population over the decade, so where is the blowout?
Clarity needed on Arrow’s future
The mystery surrounding Arrow’s coal seam gas reserves in Queensland is making more than a few people nervous.
Benefits of renewable power may not match the subsidies
The electricity market is flawed by subsidies to renewable power which fall on business users, and by power price caps.
World
Sugar maybe a step too far for US in regional trade talks
A senior United States trade official says its sugar sector remains highly sensitive to foreign competition, amid pessimism that a regional free-trade agreement can be completed this year.
- Fortescue doubles iron ore discount as China reports contraction in manufacturing
- JPMorgan legal bills puts kybosh on pay rises: source
- IBM misses revenue targets as China cuts IT spend
- Newmont Mining mulls legal action on Indonesia tax
- US seen reaching debt ceiling by late February
- Europe accused of climate target ‘sell out’
- China's Xi to visit Europe in March
- Australia will not follow US spy reforms: Bishop
Smart money picks sectors in pricey HK
Take the biggest landlord at the heart of one of the world’s most expensive cities. Add in dollar-pegged monetary policy and an expected tightening of credit. Then watch the company outperform its peers. Hongkong Land’s 8 per cent rally this year shows that differentiating between types of property pays off.
Business
Telstra Super: no comment on Madoff link
Australia’s biggest corporate super fund, Telstra Super, invested in a hedge fund whose directors were caught up in the Bernie Madoff scandal.
- Big four, regional players ready bids for Investec
- Reputational risk highlighted after ANZ’s child-labour claim
- PIMCO restructures leadership after El-Erian quits
- Atlas Iron takes on rail operators over road charges
- Icahn urges eBay to spin off PayPal
- Buffett’s Berkshire said to be in regulators’ spotlight
- Infrastructure boss lashes out
- Murray Goulburn withdraws WCB bid, sets sights on Asia
- Qantas can pay bulk of unsecured debt: S&P;
Whitehaven result silences critics
The company has done what it said it would do by delivering on its production targets, with its December quarter production report showing coal production was up 44 per cent to a record to 2.86 million tonnes, on the previous corresponding period.
Technology
Argentina moves to limit online shopping
Argentina has imposed new restrictions on online shopping in an attempt to curb capital flight and prevent a possible balance of payments crisis. Jorge Capitanich, the head of Argentina’s cabinet of ministers, said the measure was to defend national interests by substituting national production over foreign goods.
- Microsoft to allow offshore data storage
- Once-bitten Telstra dips toe back in Asia
- Telstra forms Indonesian joint venture to boost cloud computing business
- Optus signs $30m IT services deal with UGL
- Entrepreneur offers Aussie developers their Silicon Valley big break
- Foxconn ex-managers detained in bribery inquiry
Retailers challenged as technology gets personal
As technology rapidly increases the amount of personal data that is readily available, companies are trying to strike a balance between better tailoring their message to consumers and protecting an individuals privacy, said Doug McMillon, the incoming chief executive of Wal-Mart Stores said on Thursday.
Markets
Buffett’s Berkshire said to be in regulators’ spotlight
Washington regulators are starting to scrutinise Warren Buffett’s Berkshire Hathaway to determine if it is important enough to the financial system to require Federal Reserve supervision, according to sources.
- ASX lower as Chinese manufacturing contracts
- Weak Chinese data erases $A gains
- Fortescue doubles iron ore discount as China reports contraction in manufacturing
- IMF currency warning comes true for emerging markets
- RBA tipped to hold off on rates rise
- UBS puts 5700 target on ASX
- Singapore market kill-switch to pressure ASX
Equity returns not top priority
Finance bosses favour spending excess funds on acquisitions and capital purchases rather than returning money to shareholders in 2014, as optimism remains high buoyed by a falling currency, low interest rates and improving conditions in the US and Europe.
Personal finance
Investment fraud a ‘significant threat’ for Australia
The Australian Crime Commission says it is developing prevention and intervention measures to harden Australia against the emerging threat of organised investment fraud.
- Wealth management heavyweights court SMSF trustees
- Meet the wedding planner
- Big, brash houses selling at a discount
- Winery dreams can soon turn sour
- What the charts predict for the market in 2014
- Life expectancy a ticking time bomb for household savings
- 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
Five stocks to watch out for in 2014
While some investors are easily put off by strong gains, they frequently miss the profits generated by proven performers entering a purple patch.
Lifestyle
From car yards to upscale architecture
A former industrial precinct in southern Sydney is the new high-density, green hot spot.
Southern hospitality rings true on River Road
Take a break from New Orleans’ French quarter and step back in time along River Road.
Spanish gin the tipple for a hot summer’s day
The Spanish drink more gin than any other country: free poured and served with tonic and ice.
A weekend in Antwerp
Forty-eight hours is not nearly enough to savour the Flemish city’s flair for fashion, food, art and architecture.
Latest TV
Newcrest surprises on production
Newcrest has surprised the market with better than expected production numbers, particularly after falls in the gold price and past mixed results from its mines.
Free travel insurance
Credit cards can provide free travel insurance if you satisfy certain conditions, if theses are acceptable then this insurance is definitely an option.
Inflation nixes rate cut talk
Inflation data for the December quarter was higher than expected, but while a rate cut is now unlikely, the weak economy means a rate increase in 2014 is far from certain.
Startups target staff share schemes
Employee share ownership schemes have faced tough tax treatment, which startups claim have hurt their ability to attract staff. Financial services editor James Eyers says this is likely to change under the Abbott government, which should make it easier to keep entrepreneurs in Australia.
