More Reserve Bank talk knocks $A to a new low
The Australian dollar has fallen to a fresh three-and-a-half-year low after Reserve Bank of Australia board member Heather Ridout joined the chorus of central bank officials talking down the currency. The dollar tumbled in late trade on Friday to US86.97¢, its lowest level since July 2010, after Ms Ridout said the ‘‘dollar around US80¢ would be a fair deal for everybody’’.
How good are analyst calls?
Overall, broker analyst calls are worth following – but average analyst outperformance hides some less flattering numbers.
China worries spark share sell-off ahead of earnings
The Australian share market has fallen for the third week in a row, following a surprise jump in local inflation and an indicator showing China’s manufacturing sector contracted for the first time in six month.
Burdett departure forces ANZ Treasury shake-up
ANZ Banking Group has been forced into a reshuffle in its Treasury team following the departure of the Institutional Bank’s chief financial officer James Burdett.
Newcrest at risk of up to $3bn writedown: RBC
Newcrest Mining could post writedowns of as much as $3 billion when it releases its annual results next month depending on its gold-price assumptions, according to RBC Capital Markets.
Telstra Super defends Madoff-linked investment
Telstra Super, Australia’s biggest corporate superannuation fund, is standing by a decision to invest in a hedge fund whose directors were caught up in the Bernie Madoff scandal.
Analysts split on IAG’s earnings guidance
As investors digested the news that Insurance Australia Group expects slowing earnings growth this year, analysts are split on what this means for the company and insurance industry.
Stagflation: a worry for both bond and equity investors
David Bassanese | It is an ugly word that might start to confront Australian investors: “stagflation”, the combination of weak growth and rising inflation.
Corporate cash holdings hit record highs
Philip Baker | At the end of last year global companies had almost $US7 trillion of cash and equivalents on their balance sheets – more than double the figure of a decade ago. The story is similar in Australia.
Vodafone Australia appoints new CEO
Updated | Vodafone Hutchison Australia has brought in Vodafone Romania’s chief executive, Iñaki Berroeta, to be its new chief executive officer, replacing Bill Morrow who will leave to lead NBN Co.
David Jones goes red and gold to woo Chinese New Year tourists
David Jones is hoping that windows dressed in red and gold, Jimmy Choo shoes and the fair face of model Jessica Gomes will entice shoppers.
How to engage staff who face being made redundant
Transformative leaders recognise the importance and impact of those who must leave — walking in their shoes, empathetically and candidly engage with them, to restore and renew their sense of purpose.
Why China’s 5-star hotels are vanishing
Fireworks, expensive liquor, fancy hotels and bureaucrats’ bonuses have all taken a hit this Spring Festival.
Citi sees likely Santos downgrade, write-down
Citigroup has raised the possibility of downgrades in Santos’ oil and gas reserves and write-downs after the fourth quarter report on Thursday increased guidance for depreciation.
Australia ranks 13th in world innovation
Australia is the world’s 13th most-innovative country in R&D, tertiary education, patents and manufacturing with the US on top.
Want to earn more? Study humanities
Carlyle Group co-founder David Rubenstein believes students have lost a valuable skill in business. And it comes from studying humanities.
Apple may play catch-up with bigger-display iPhones
Updated | Rumours have re-emerged overnight in the US that Apple is set to break the iPhone mould and go bigger – but it could be too late.
Nokia hands Microsoft some bad numbers
Microsoft’s push into smartphones may not have the best start after Nokia, which is selling its handset division to the US giant, said sales fell 29 per cent.
Pope calls internet ‘a gift from God’
It may sometimes be a breeding ground for pornographers, bullies and extremists, but Pope Francis has called the web a “gift from God”.
High hopes for Gold Coast property turnaround
Late January is auction time for the lifestyle market – and this year things are looking up.
Restored Ferrari worthy of the King of Cool
Steve McQueen is one of the few actors who could back up his fast car film roles with real talent behind the wheel
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.
National
- Most top CEOs privately educated: survey
- SA double holiday pay: penalty rates double dip
- Chinese New Year boost gives businesses reason to celebrate
- Lawyers in fraud trial focus on Thomson’s state of mind
- Labor blocked damning evidence release
- Don’t bring politics into project selection: Albanese
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.
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
Angela Macdonald-Smith | The mystery surrounding Arrow’s coal seam gas reserves in Queensland is making more than a few people nervous.
Open for business but not for all
Jennifer Hewett | As Murray Goulburn finally and formally concedes defeat in its pursuit of Warrnambool Cheese & Butter, Gary Helou’s sense of grievance is understandable.
World
Tax, protectionism on G20 agenda
Australia will seek a new international agreement on principles for fair taxation when it hosts this year’s Group of 20 meeting in Brisbane, Prime Minister Tony Abbott says.
- Smart money picks sectors in pricey HK
- No word on new CEO as Microsoft announces profit rise
- White House threatens Ukraine with sanctions
- Lenovo to buy IBM's low-end server unit for $US2.3bn
- China bumps India from top gold consumer spot
- White House to release fiscal 2015 budget on March 4
- Germany, France attack EU plan to curb big banks
- US homes sales snap losing streak, jobless claims rise
- New GM chief won't deviate from predecessor's plan
BlackRock’s future could be written in Blackstone
Jeffrey Goldfarb | Blackstone Group’s assets under management are only 6 per cent of BlackRock’s, yet it probably generated the same amount of profit last year. That has to make private equity tempting for BlackRock.
Business
Vodafone Australia appoints new CEO
Updated | Vodafone Hutchison Australia has brought in Vodafone Romania’s chief executive, Iñaki Berroeta, to be its new chief executive officer, replacing Bill Morrow who will leave to lead NBN Co.
- Burdett departure forces ANZ Treasury shake-up
- Bendigo and Adelaide Bank makes it big with bonds
- Reject Shop reconsiders mall stores after share plunge
- A-REITS produce steady income but returns are down
- Newcrest at risk of up to $3bn writedown: RBC
- Corporate cash holdings hit record highs
The happy tale of Aurizon’s privatisation
Chanticleer | Queensland’s decision to spin-off QR National proved wise as cost cuts and solid coal haulage volumes over the past year have pushed the rail-freight company’s share price to fresh highs.
Technology
Apple may play catch-up with bigger-display iPhones
Updated | Rumours have re-emerged overnight in the US that Apple is set to break the iPhone mould and go bigger – but it could be too late.
- Samsung Q4 profit down as one-off bonus take a slice
- No word on new CEO as Microsoft announces profit rise
- Icahn takes another $US500m bite out of Apple
- Nokia hands Microsoft some bad numbers
- Pope calls internet ‘a gift from God’
- Microsoft to allow offshore data storage
- Retailers challenged as technology gets personal
- Argentina moves to limit online shopping
- Once-bitten Telstra dips toe back in Asia
Lenovo to buy IBM's low-end server unit for $US2.3bn
Chinese PC maker Lenovo Group agreed to buy IBM's low-end server business for $US2.3 billion, mostly in cash, in what is set to be China's biggest technology deal.
Markets
How good are analyst calls?
Overall, broker analyst calls are worth following – but average analyst outperformance hides some less flattering numbers.
- Burdett departure forces ANZ Treasury shake-up
- China worries spark share sell-off ahead of earnings
- Reject Shop reconsiders mall stores after share plunge
- More Reserve Bank talk knocks $A to a new low
- Gold spike just a blip on the way down: UBS
- Stagflation: a worry for both bond and equity investors
- Corporate cash holdings hit record highs
- CSL shares jump to all-time high
- Dow Jones closes lower for third straight session
BoE’s Carney backtracks on forward guidance
Central bank forward guidance is supposed to make life easier for investors. Bank of England governor Mark Carney adopted the policy five months ago, now he’s done a backflip and is abandoning the idea.
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
High hopes for Gold Coast property turnaround
Late January is auction time for the lifestyle market – and this year things are looking up.
French chefs put family on the menu
Young stars of the French culinary scene are rejecting gruelling hours in the kitchen for more time at home.
Desert city of soaring visions and hidden delights
Behind the dazzling skyscrapers for which Dubai is famous is a city of tradition and soul – and great food.
Restored Ferrari worthy of the King of Cool
Steve McQueen is one of the few actors who could back up his fast car film roles with real talent behind the wheel
Latest TV
2014 strategies of top super funds
Australia's top super funds are steering away from equities in 2014, though DIY funds should take care in trying to follow institutional strategies.
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.
Finance chiefs cautiously optimistic
The latest Deloitte survey of chief financial officers shows more optimism and again a desire for M&A, but cost management is still their top concern.
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.
