IMF backs Hockey on cuts
The Abbott government will struggle to rein in the developed world’s biggest forecast spending surge, inflated by expensive promises on education, disability services and paid parental leave, according to the International Monetary Fund.
Telstra tipped to outsource another 1000 jobs
Telstra could outsource up to 1000 jobs to the Philippines and India on the back of a review by management consulting firms due to be completed by the end of March 2014.
Sectors fight Direct Action baselines
The government is unlikely to accede to industry demands to be exempt from its proposed safeguard system to limit carbon emissions under its direct action plan, setting the scene for conflict with powerful lobby groups.
Former Toyota boss: unions must take some blame for exit
Former Toyota and supplier executives have fingered Australia’s combative industrial relations culture as a key reason for the company’s decision to quit manufacturing in this country.
UK billionaire’s firm takes potshot at ASIC
Shane Stone, the chairman of mid-tier financial planning firm Anne Street Partners, has criticised the Australian Securities and Investments Commission for lacking resources and technical expertise and being biased against investment in bricks and mortar.
Chinese capital to play part in Australia’s next boom
Private capital from China will form part of Australia’s next boom and could help fund much needed infrastructure projects, after Beijing loosened capital controls for those looking to acquire a foreign passport.
Roy Hill workers’ contracts contain no strike bonus
Workers on Gina Rinehart’s Roy Hill project are being paid a weekly bonus of $205 under contractual terms designed to deter them from taking unapproved industrial action.
LaSalle looks to broaden portfolio
Global fund manager LaSalle Investment Management is looking to invest in residential property and the emerging student accommodation sector as the Asian boom drives demand in the Australian market.
Victoria opens door to private sector pitches
The Victorian government has opened the way for the private sector to pitch ideas for infrastructure after finalising new and long-awaited Victorian government guidelines for dealing with unsolicited proposals.
All power to AGL with $1.5 billion deal
AGL Energy targeted $1.5 billion takeover of Macquarie Generation is set to reap immediate benefits in earnings and turn the utility into the country’s largest, lowest-cost power producer.
Why the CFMEU is morally bankrupt
Daniel Grollo | Twelve years ago, Grocon took a public stand against the sort of ugly, lawless behaviour we’ve been reading about these past weeks.
Byron thrives on high-tech vans
Bill Pike says there is ‘’absolutely a future for manufacturing in Australia, but it’s not in mass manufacturing’’.
Laws cloud holiday home rental bonanza
The holiday rental business generates $7.3 billion in direct spending and more than four times that when indirect spending is included, a BIS Shrapnel report says. The Holiday Rental Industry Association says it’s crucial for state governments to clarify their legal status.
Local, offshore players consider PNG gas assets
Energy players seeking to increase their foothold in Papua New Guinea’s fast-emerging natural gas export industry may have a chance to get their hands on a parcel of assets worth as much as $600 million.
Asians snap up Olsen art forsaken in UK
Veteran Australian artist John Olsen is developing a keen following among Asian buyers. But the English, it seems, have turned up their noses.
High-flyers picking up at 30,000 feet
Ah, the 6am flight. If you’re awake enough, it’s the perfect opportunity to observe human behaviour at its most peculiar and, often, at its worst.
Barbie takes to Sports Illustrated
As her sales figures fall, Mattel is pushing Barbie into a Sports Illustrated photoshoot as it tries to change her image.
The only bank stock John Sevior is buying
Investors will be closely examining CBA’s interim results Wednesday morning for signs that Australia’s big four banks have been oversold.
Microsoft, HP heavyweights join Xero board
Updated | Accounting software maker Xero has signalled a major push into the US as it appoints three well-known technology executives.
Australians students turn away from accounting
The number of Australians studying accounting has fallen 20 per cent since 2001.
‘Stop beating up on Lloyd and Jamie’
Former Morgan Stanley boss John Mack has called for an end to the harsh words hurled at Jamie Dimon and Lloyd Blankfein over executive pay.
Mr Asia climbs to top of the trade tree
It’s refreshing to hear Australia’s best connected banker talk up the long term economic and business opportunities in Asia.
Shirley Temple dies, aged 85
Shirley Temple, the curly-haired US child star who put smiles on the faces of Depression-era moviegoers, has died. She was 85.
Corby camp denies $2m Seven deal
Schapelle Corby has spent her second day of freedom hiding in luxury, amid rumours of a secret marriage.
National
IMF backs Hockey on cuts
The Abbott government will struggle to rein in the developed world’s biggest forecast spending surge, inflated by expensive promises on education, disability services and paid parental leave, according to the International Monetary Fund.
- Sectors fight Direct Action baselines
- Former Toyota boss says unions must take some blame for exit
- Abbott delivers mixed report card on closing gap
- Telstra tipped to outsource another 1000 jobs
- Byron thrives on high-tech vans
- Chinese visitors fall but Americans flock to our shores
- Victoria opens door to private sector pitches
- Qantas stresses cost cuts to continue government aid
Gals get over Valentine’s Day
Single woman Alice Shuster will not be moping around this Valentine’s Day. Instead the 20-year-old student is going to a party for “ladies celebrating ladies”. Welcome to Galentine’s Day or, for blokes, Palentine’s Day.
Opinion
The Pyramids to Sochi – the fatal attraction of the megaproject
Tony Abbott wants to be the ‘infrastructure PM’. He should be wary of the power of ambition when it comes to building monuments, writes Maximilian Walsh.
Car industry yet to justify its protection
The recent announcement by both Holden and Toyota that they will close local car production within the next few years has been met with a mixture of shock and relief by different analysts around the country.
The dangers of classroom socialism
You can see it in their faces. The look of confusion when the weakest students in class come forward to accept their prizes at school presentation days.
World
Societe Generale rakes in €322m in fourth quarter
Societe Generale, France’s second-largest bank, reported fourth-quarter profit almost double analysts’ estimates, helped by earnings at its French and Russian consumer banking units. Its shares surged.
- Australian exports to China soar
- Yellen pledges ‘continuity’ in Fed policy
- ‘Stop beating up on Lloyd and Jamie’: ex-Wall Street boss
- US House passes bill raising debt ceiling
- Moody's cuts Fiat's rating on earnings worry, outlook
- What Australia can learn from New Zealand’s economic success
- Bank of England opens currency trading probe
- Barclays slashes 12,000 jobs, increases bonus pool
Data gap points to gold stockpile in China
A 500-tonne gap in China’s gold consumption data is fuelling talk the central bank took advantage of weak prices last year to bulk up its holdings of the precious metal.
Business
Telstra tipped to outsource another 1000 jobs
Telstra could outsource up to 1000 jobs to the Philippines and India on the back of a review by management consulting firms due to be completed by the end of March 2014.
- Qantas stresses cost cuts to continue government aid
- Commonwealth Bank posts $4.27bn half-year profit
- All power to AGL with $1.5 billion deal
- Former Toyota boss says unions must take some blame for exit
- Roy Hill workers’ contracts contain no strike bonus
- UK billionaire’s firm takes potshot at ASIC
- Homing in on Macquarie’s 2015-16 profit trajectory
- Aldi passes IGA to take third spot
Regulation’s risky business
When Commonwealth Bank of Australia CEO Ian Narev was asked to name the biggest threats to CBA’s booming profit results he left out the elephant in the room.
Technology
Microsoft, HP heavyweights join Xero board
Updated | Accounting software maker Xero has signalled a major push into the US as it appoints three well-known technology executives.
- Fujitsu wins $170m Defence contract
- New York plans reality check for Bitcoin
- Optus defends ad as Telstra trial begins
- Global stockmarkets target social media use to catch dodgy traders
- APN offloads unprofitable brandsExclusive site
- NBN Co loses third head of construction
- Alibaba offer values digital map group at $US1.58bn
- Google Glass upgrades to first class in Virgin trial
- Apple brings iTunes Radio to Australia
Nokia going ahead with Android phone?
Could Nokia really be on the verge of releasing an Android phone? According to reports it is, and will do it in a week or so at the Mobile World Congress in Barcelona.
Markets
Shares rise 1pc on growing optimism
Shares rose for the fifth consecutive day on some strong local earnings reports, stronger than expected Chinese trade data and after global markets cheered Fed chair Janet Yellen’s pledge to take a ‘measured’ approach to cutting stimulus.
- Aussie lifts to one-month high on strong Chinese trade
- Consumer confidence drops ahead of tough budget
- Fed points finger back at emerging markets
- Yellen pledges ‘continuity’ in Fed policy
- Wall St’s best-kept secret may be earnings growth
- Long US bond yields highest in two weeks on Yellen
- The only bank stock John Sevior is buying
Fed taper may not ease RBA’s $A pain
Philip Baker | Global markets certainly liked what they heard from Janet Yellen, but the US dollar was not impressed, which made it easier for the Australian dollar to consolidate above US90¢.
Personal finance
Women push to close superannuation gap
The federal government has been urged to maintain the superannuation rebate for low income earners and the timetable for raising compulsory contributions to 12 per cent to help women save more for retirement.
- Self-management means taking responsibility
- The benefits of account-based superannuation
- Q&A; | When being on leave is being at work for an SMSF
- Experts say keep your cool amid this volatility
- Tenant retention key as CBD vacancy rates soar
- Investment fraud a ‘significant threat’ for Australia
- MySuper is here: if only it were so simple
- Unlocking your wealth potential
Why first home savers are a no-brainer
If you are thinking about buying your first home and you don’t have a first home saver account, you’re missing out on potentially $1020 a year.
Lifestyle
High-jacked art: inside the Aboriginal art trade
When a gang of outback kids hot-wired Adrian Newstead’s car, his consignment of works by Australia’s most revered painters were in the boot.
China’s quiet cultural death by diaspora
As village life is left in ruins by rapid, government-driven urbanisation,citizens must fight to keep their heritage alive.
The art of molecular gastronomy
Ferran Adrià a molecular gastronomist has used sophisticated cooking techniques and a multisensory approach to reinvent Spanish cuisine.
See it, feel it, buy it: the new customer experience
The world’s truly wealthy are shifting their lustful gaze from goods to experiences. And the smartest retailers are moving with them, trend forecasters tell Katrina Strickland.
Latest TV
IMF's take on Australia
The IMF says Australia's economy will grow faster than government predictions, but is happy with interest rates.
Yellen remains optimistic
US Federal Reserve chair Janet Yellen isn't too concerned about US jobs data.
Results: CBA, Boral, Computershare, Oz Minerals
The Commonwealth Bank and Boral have pleased, while Computershare and Oz Minerals have farewelled CEOs.
Thursday preview: Telstra
Telstra will be under pressure to hand back some capital on Thursday, with Rio and ASX also reporting.
