PNG eyes Oil Search stake: sources
There is growing speculation Papua New Guinea government is agitating for take a direct stake in the Australian-listed Oil Search through a potential $1 billion capital raising. UBS is believed to be working on a loan to the PNG government that would enable the Pacific Nation to acquire roughly 10 per of Oil Search via a private share placement.
ASX inches up as solid results offset China worries
Well-received half-year company results and growing optimism that domestic business conditions are improving helped the local sharemarket edge higher despite disappointing local construction data and looming concerns about volatility in China.
Need for gigabit speed questioned at NBN Co hearing
Major internet service providers are not yet offering the fastest speeds available over the national broadband network, but executives say just one business is currently on a plan with 250Mbps speed.
Rival bid speculation buoys Aurora Oil & Gas
The record value that Aurora Oil & Gas attracted from Canada’s Baytex Energy may not have deterred rival bidders with speculation mounting that a counterbid to Baytex’s $4.10 a share offer is being prepared.
Qantas debt rallies on guarantee speculation
The cost of insuring against a default in five-year Qantas debt fell sharply on Wednesday morning on increased speculation that the airline will secure a government guarantee.
Whitehaven Coal cost cuts impress
Despite impressive cost-cutting and showing its transformative Maules Creek project is on track to start producing in 2015, Whitehaven Coal’s fortunes remain at the mercy of weak coal prices and a stubbornly high Australian dollar.
Gas prices bite AGL, but consumers feel no benefit
Matthew Stevens | Arguably the only obvious positive about AGL’s constrained interim profit is that it is at least consistent with the competition.
WorleyParsons mulls restructure as profit drops, jobs go
Engineering group WorleyParsons signalled it was considering a restructure as it reported a 27 per cent fall in first half net profit to $119.8 million and cut more than 500 jobs.
‘Disappointing’ data shows construction struggling
Updated | Contractions in residential, non-residential and engineering construction pulled down the overall value of building work 1 per cent in the December quarter.
Older mothers drive up Virtus revenue
Older first time mothers’ fears that their age could lead to babies born with conditions caused by genetic abnormalities are driving growth in diagnostic tests for fertility clinic network Virtus Health.
Coles unveils new grocery price cuts as ACCC hits petrol discounts
As the ACCC cracks down on stacked petrol discounts, food and liquor retailer Coles is diverting funds into grocery price cuts in a move that may trigger another supermarket price war.
Five things Google wants from new hires
Good grades won’t hurt your chances of a job at Google. But the tech giant’s head of hiring says there are five attributes the company is really looking for.
Chinese exports surge amid weakening economy
Rising Chinese exports may be helping to offset emerging signs of weakness across the broader Chinese economy, but strengthening exports might also lead to further trade tensions.
Rival bid speculation buoys Aurora Oil & Gas
The record value that Aurora Oil & Gas attracted from Canada’s Baytex Energy may not have deterred rival bidders with speculation mounting that a counterbid to Baytex’s $4.10 a share offer is being prepared.
Night wolves v Nazis in Sevastopol
It’s been decades since Sevastopol fought a Nazi seige; but residents are getting ready to do so again.
A new BlackBerry phone on the (far) horizon
BlackBerry has announced a new phone, the Q20, that will sport more or less the same trackpad and buttons it uses on its much-loved-but-sadly outdated Bold devices.
Mt. Gox turmoil ‘like MF Global’
Bitcoin cheerleader and internet investor Marc Andreesen maintains the apparent collapse of Bitcoin exchanage Mt Gox is an isolated problem.
Buffett’s will: Invest in index funds only
Buried within a lengthy excerpt from Warren Buffett’s letter to shareholders of Berkshire Hathaway, was a deeply personal and heartfelt instruction.
‘Too early’ for BlackBerry Messenger sale: CEO
BlackBerry’s John Chen says it is too early to sell off the company’s popular messaging service, in the wake of Facebook’s WhatsApp acquisition.
When there aren’t plenty of fish in the sea
First there was peak oil. Now there’s concern that peak salmon is setting in. And it isn’t as if sushi was inexpensive to begin with.
Telstra unveils fast internet devices, 4G plans
Telstra has launched five high-speed mobile broadband devices and changed the way it expands its 4G network.
Goldman tattletale never in the elevator
The famous Goldman Sachs elevator tweeter, never worked for the bank: but it’s still funny.
How a lonely Aussie student inspired WhatsApp
Australia’s tyranny of distance and excessively expensive phone call charges are what transformed WhatsApp into the company.
What Warren Buffett learnt from farming
Investment guru Warren Buffett has offered an unusually long preview of his hotly anticipated letter to Berkshire Hathaway shareholders.
National
ACCC needs more power to tackle supermarkets: Sims
ACCC chairman Rod Sims says the regulator needs more legislative support to deal with anti-competitive behaviour by supermarket giants Coles and Woolworths.
- Vic, NSW not open for business: gas giant BG
- ICAC doubts over coal mine approval
- Online courses a great opportunity, digital CEOs say
- Abbott offers $320m in drought relief for farmers
- Consumers need to take charge of financial decisions: Sinodinos
- Shorten stands ground on calls for Conroy sacking
- Qantas to blame if jobs are exported
O’Farrell blind to Victoria’s lockout failures
Christopher Joye | NSW Premier Barry O’Farrell’s decision to subject millions living in Sydney to curfews to staunch alcohol-fuelled violence might not last long, if Victoria’s experiment with similar laws is anything to go by.
Opinion
Aurizon acts to avoid union action train wreck
Matthew Stevens | Aurizon went into the latest bout of industrial hostility by Hunter Valley coal train drivers talking very tough.
Building sites like ghost towns
Editorial | When workers on major building sites put down their tools on April 17, in most states they will not have to return to work until April 26, thanks to the Easter and Anzac holidays and the pernicious building industry practice of taking rostered days off.
Building output lift needs more than IR reform
Martin Loosemore | After decades of ‘business as usual’ complacency, Australia needs to urgently future proof its construction industry.
World
Ukraine to move against run on banks
Ukraine is weighing measures to stem cash withdrawals after as much as 7 per cent of deposits were taken from banks during last week’s bloody uprising, underscoring the need for action to fend off a default. The interim government is looking for up to $US35 billion to fend off a default.
- Japan now sees future for nuclear power
- Night wolves v Nazis in Sevastopol
- IMF boss Lagarde condemns inequality
- Euro zone economy to expand 1.2pc this year
- APEC meeting shifts to Beijing amid protests threat
- Melbourne Uni second in world for teaching
- Fed will release US bank stress test results on March 20
- JPMorgan slashes 5000 jobs, lowers profitability target
EU’s basket cases show best returns
Europe’s most troubled economies have been the continent’s best performers this year. Data from Russell Investments, an asset management firm, shows that Portugal, Italy, Ireland and Greece have outclassed other European markets so far in 2014.
Business
PNG eyes Oil Search stake: sources
There is growing speculation Papua New Guinea government is agitating for take a direct stake in the Australian-listed Oil Search through a potential $1 billion capital raising.
- Whitehaven Coal cost cuts impress
- Flight Centre sticks to guidance despite strong result
- WorleyParsons mulls restructure as profit drops, jobs go
- Qantas needs more than government help: analysts
- Prime maintains forecast despite profit dip
- Spain’s Duro Felguera fills hole left by Forge at Roy Hill
- Murdoch ditches DMG for the Nova brand
- Westfield Group on track with restructure
- Older mothers drive up Virtus revenue
Flight Centre soars despite weak dollar
Chanticleer | Flight Centre is one of those rare and well-run companies that hardly ever stuffs up. It quickly adapted to doing business online and it keeps boosting earnings even as the Aussie dollar has weakened.
Technology
Google Ventures’ Miner sees little hope for telco start-up arms
Google Ventures partner and Android co-founder Rich Miner says the recent push by telecommunications companies such as Telstra and SingTel-Optus into funding start-ups will fail unless they are willing to cannibalise their core businesses.
- AAPT chief Yuile resigns as sale nears end
- Mt. Gox turmoil ‘like MF Global’
- Telstra unveils fast internet devices, 4G plans
- ‘Too early’ for BlackBerry Messenger sale: CEO
- Apple issues fix for glaring security flaw on Macs
- Google lobbies against anti-Glass laws for drivers
- Chinese microblog Weibo plans US float
- SingTel chief calls for right to charge OTT challengers Skype and WhatsApp
A new BlackBerry phone on the (far) horizon
BlackBerry is returning to its roots. It has announced a new phone, the Q20.
Markets
ASX inches up as solid results offset China worries
Well-received half-year company results and growing optimism that domestic business conditions are improving helped the local sharemarket edge higher despite disappointing local construction data and looming concerns about volatility in China.
- $A steady despite falls in the yuan
- ‘Disappointing’ data shows construction struggling
- Pimco pressure too much for El-Erian
- Credit Suisse helped clients hide assets from US authorities: Senate report
- Lending conditions ease for property developers: NAB
- Results Wrap | Australian Vintage profit up
- Buffett’s will: Invest in index funds only
- JPMorgan slashes 5000 jobs, lowers profitability target
- China sends message with yuan fall
Why AllianceBernstein is underweight on Australia
Investing in the equity market has never been for the faint of heart. That’s no revelation. But fewer investors are unwilling to accept and stomach the wild gyration of the stock market, leading the large assets managers to tailor their products to smooth the ride.
Personal finance
The true casualties of zero interest rates
Pension funds, annuity providers and insurance groups are among those most at risk from this grand monetary policy experiment.
- Small apartments, big headaches
- Government wants to bring back conflict pay
- Women push to close superannuation gap
- 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
- Approach equities with caution: ALF
- Super lump sum won’t trigger income test
Why baby boomers may be forced to retire with nothing
Robert McMaster had his $5 million steel fabrication company, C-MAC, in western Sydney valued in December. The result was shocking.
Lifestyle
The inner lady emerges at Ballyfin Demesne Hotel
A dramatic, yet elegant, turn awaits guests in this historic family estate-cum-boarding school turned country house hotel in the glorious Irish countryside.
Hotels hot list: 10 best new and refurbished properties
When it comes to freshening up, the trend this year is restrained chic, complementing popular cutting-edge, bespoke design hotels. Whatever your tastes, you’ll find it here.
Stockholm’s style stronghold
The once working-class suburb of Södermalm has been transformed into the Swedish capital’s new centre of fashion and design chic.
When in Paris, learn how to cook
If there’s one thing better than eating in Paris, a city steeped in gastronomic history and starring some of the world’s best chefs, it’s learning how to cook there.
Latest TV
Preview: Qantas to dominate Thursday announcements
Qantas likely to announce a nasty loss and job cuts as part of a restructure, with scrutiny also on its frequent flyer plans.
ACCC sues Coles, Woolies over fuel discounts
The competition watchdog has had enough of the big grocers' methods to get around limits on petrol discounting that they agreed to last year.
Results: AGL, Flight Centre, Worley Parsons
AGL and Worley Parsons have seen profit drops in their results announced Wednesday but Flight Centre continues to soar.
QBE stung by North America, eyes premium hikes
QBE have turned in a hefty loss, hurt by claims in North America, and is hoping a premium hike in its ANZ and US markets can help offset the damage.
