Medium-term budget cuts ‘a tall order’
The Abbott government is at risk of delaying its toughest spending cuts beyond the “never-never”, says an economist who questions whether Treasurer Joe Hockey’s first budget will come close to the toughness of Liberal predecessor Peter Costello. Most of the government’s biggest policy changes are not likely to affect the budget bottom line until after the next election.
Transurban to raise $2.7bn for Qld Motorways deal
Transurban’s first foray in Queensland is pricey, but analysts are backing the $7 billion deal that awards Queensland Motorways and its 70 kilometre highway network in Brisbane network to the toll road operator.
Burson debut on ASX ‘reassuring’: CEO
Automotive parts supplier Burson Group made an impressive debut on the Australian Securities Exchange on Thursday with opening trades at a 12.6 per cent premium to its issue price.
Wesfarmers has ‘no expertise’ in Healthscope
Analysts and investors say Wesfarmers needs to make a major acquisition to accelerate earnings growth but are sceptical about its reported interest in integrated healthcare operator, Healthscope.
Patricia Ilhan’s investment strategy: keep it succinct
“Crazy John’’ Ilhan still figures prominently when Patricia Ilhan talks about the $300 million-plus investment portfolio built on the late mobile phone entrepreneur’s legacy.
Horizon Oil, Roc Oil halted on takeover talk
Oil and gas junior Horizon Oil and potential suitor Roc Oil Company have both entered a trading halt following rumours of a takeover bid. Both companies cited a potential transaction as the reason to halt trade.
ASX steady ahead of holiday, gold shares gain
Updated | The ASX was steady into the afternoon trading session on Thursday ahead of a public holiday on Friday in Australia, after miners and banks had earlier carried the local index higher.
Stockland ‘better’ off to sell Australand stake
Expectations are rising that Stockland may sell its strategic stake in Australand Property Group and realise a profit of about $60 million if price expectations for a takeover bid are too high.
Billionaire Paul Ramsay seriously ill
Paul Ramsay, the billionaire founder of private hospital operator Ramsay Health Care, has been admitted to hospital in Europe in a serious condition, the company has announced.
Roy Hill won’t be end of WA iron ore: BHP
BHP Billiton iron ore president Jimmy Wilson says greenfield mine developments are still possible in Western Australia this decade, even though the sector has crimped capital spending.
7 ways to make the most of new Twitter
Twitter's new profile pages are being rolled out and if you haven't seen yours yet, it will happen soon. Make no mistake, it’s bigger, bolder and it looks much more like Facebook.
Could Candy Crush Saga be a gateway to gambling?
Candy Crush Saga is a simple game but the hold it has over followers is strong. Now there are new entrants to the social gaming market: poker machine game manufacturers.
payWave suit gives wallets the flick
Dubbed “the power suit”, this MJ Bale prototype has a chip in the sleeve that makes paying for lunch a mere flick of the wrist – and losing your bulky wallet means regaining your suit’s style.
Goldman, MS share $60m fees on Qld Motorways bid
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Investment banks Goldman Sachs and Morgan Stanley will share in more than $60 million in fees after advising Transurban Group on its winning Queensland Motorways bid.
Vouchers prove poor pickings for restaurateurs
Penny-pinching customers are defeating the purpose of discount voucher schemes from group-buying sites.
Kate clutch bodes royally for Oroton
Retail sales for fashion group Oroton are expected to soar after Catherine, the Duchess of Cambridge, stepped out with one of the brand’s clutches.
Deal hunting Aussies up travel budget
Australians plan to spend on average $13,206 on travel this year – up 25 per cent.
Anzac Day welcome good news for pubs
Anzac Day is a publican’s dream. A cocktail of tradition, two-up, premium sport and no work means pubs and clubs will rake it in on the day.
David Einhorn shorts stocks amid ‘tech bubble’
David Einhorn has revealed that his Greenlight Capital is shorting a basket of technology and social media stocks amid a “tech bubble”.
No pay rise? Go dancing instead
Visiting the library, dancing and swimming can make people as happy as a $9000 pay rise, says a British study.
Mt. Gox 'geek' CEO stalls on subpoena
Mt. Gox CEO Mark Karpeles is "not willing" to travel to the US - as ordered by a judge – as he fears he could be arrested by authorities there.
Why a part-time CEO could bring a whole lot of value to your business
More chief executives are cutting their hours at work to spend more time with their families and other interests.
When lust goes online
A Sydney banker was flat out at his desk when his mobile phone kept ringing. He ignored it. It wouldn’t stop and in irritation he answered.
Downer home for sale as Britain beckons
Alexander Downer has put his Adelaide Hills family home up for sale as he prepares to become high commissioner to Britain.
National
Hockey flags superannuation tax, age changes
Treasurer Joe Hockey has flagged changes to superannuation tax concessions and an increase in the preservation age over the medium term.
- Clive Palmer takes PUPs to Washington
- Tourism investment pipeline climbs to $49.4bn
- Inflation at two-year high, below forecasts
- Household debt getting close to limit, say analysts
- Kate clutch bodes royally for Oroton
- GM-Holden factory could be used for armoured cars
- NSW households to pay more for gas
- Rare Buddha tops Sotheby’s comeback sale
Hits and misses in hot property predictions
Picking the property market is like backing a horse or predicting the weather: even experts get it wrong, but everyone hopes their punt is right.
Opinion
Baird has the credentials – now for the clout
Whether NSW’s new Premier can learn to be a successful political leader in the year he has until the next scheduled state election remains to be seen.
Soft power the key to Obama’s Asia sojourn
When US officials were considering whether to join the East Asia Summit, the practical reality came down to if they could squeeze in two visits a year.
Economic moderniser clings to old-school aesthetic
Brian Toohey | Paul Keating’s public persona as an urban design expert perplexes admirers who share his view of himself as the great moderniser of the Australian economy while Treasurer.
World
RBNZ raises rates for second consecutive month
Updated | The Reserve Bank of New Zealand has raised its official cash rate to 3 per cent as it forges ahead with a policy-tightening cycle that sets it apart from other developed nations.
- Man United still performs off the field
- GE seeking to buy France's Alstom for $US13bn
- Deutsche Bank reportedly cuts its Latam equities staff
- US housing sector slumps in March
- Apple approves $30bn more in buybacks
- Gates-backed TB drug to enter late-stage testing
- Obama confronts natural and man-made disasters
- Facebook profits nearly triple to $US642m
- Eurozone economic recovery unexpectedly accelerates
‘Kitchen of Japan’ gets taste for craft beer
For a long time, drinking beer in Japan meant implicitly supporting one of the country’s four big producers. But Osaka, Japan’s third-largest city, is becoming the place to sample craft beers.
Business
Burson debut on ASX ‘reassuring’: CEO
Automotive parts supplier Burson Group made an impressive debut on the Australian Securities Exchange on Thursday with opening trades at a 12.6 per cent premium to its issue price.
- Transurban buys Qld Motorways
- ERM Power wins $1bn government contracts
- Healthscope not a good fit for Wesfarmers: analysts
- Horizon Oil, Roc Oil halted on takeover talk
- Stockland ‘better’ off to sell Australand stake
- Qantas bucks trend by deferring aircraft deliveries
- Billionaire Paul Ramsay seriously ill
- Roy Hill won’t be end of WA iron ore: BHP
- Resmed misses analyst expectations in March quarter
Transurban takes wheel with $7bn deal
Chanticleer | Transurban’s $7 billion purchase of Queensland Motorways cements its position as one of the country’s top dominant transport companies and marks the final phase of an ownership shake-out of the nation’s debt-laden toll roads.
Technology
payWave suit gives wallets the flick
Dubbed “the power suit”, this MJ Bale prototype has a chip in the sleeve that makes paying for lunch a mere flick of the wrist – and losing your bulky wallet means regaining your suit’s style.
- Zynga co-founder withdraws from operations amid turnaround
- Amazon to Stream Original HBO Content
- Could Candy Crush Saga be a gateway to gambling?
- David Einhorn shorts stocks amid ‘tech bubble’
- iiNet plots ‘aggressive’ $350m media, internet spend
- Profit a challenge for payments start-up Square
- Mt. Gox 'geek' CEO stalls on subpoena
- Music video hub Vevo monthly viewership doubles to 6 billion
Apple approves $30bn more in buybacks
Apple has approved another $US30 billion in share buybacks till the end of 2015 and authorised a rarely seen seven-for-one stock split, addressing calls to share more of its cash.
Markets
ASX steady ahead of holiday, gold shares gain
Updated | The ASX was steady into the afternoon trading session on Thursday ahead of a public holiday on Friday in Australia, after miners and banks had earlier carried the local index higher.
- RBNZ raises rates for second consecutive month
- Kiwi rate hike sinks $A, volatility ahead
- S&P; 500, Nasdaq snap six-day winning streak
- Apple approves $30bn more in buybacks
- European shares slide as Ericsson, ARM disappoint
- Hoyts considers rebrand before float: report
- Low rates encourage ASX buying
- China corn imports to rise to boost local cattle production: report
Junk bonds queues indicate risk is back
It doesn’t seem that long ago that investors were just focused on simply riding out the financial storm. Preserving cash and keeping a lid on any damage was the mantra of the day.
Personal finance
Junk bonds queues indicate risk is back
It doesn’t seem that long ago that investors were just focused on simply riding out the financial storm. Preserving cash and keeping a lid on any damage was the mantra of the day.
Don’t be a DIY dummy
The 500,000 self-managed superannuation funds now controlling more than $500 billion in assets need to keep their wits about them if they are to hang on to their savings.
Lifestyle
Through the looking glass with mirrors
Melbourne designer Helen Macfarlane didn’t want to wait for her mirrors to age, so she started experimenting.
Spend
Live it up | Alexander McQueen’s silver sandal is a work of art, Dior impresses, and Tasting returns to Cradle Mountain.
Holden Calais V: the last big Australian
Here’s the case for and against the Calais V V8: a tarted up Commodore with a rugged, no nonsense charm.
When lust goes online
There is nothing new in people exposing infidelities, but the lightning speed with which it takes place online is new.
Latest TV
What Japanese nationalism means for Australia
Japanese nationalism is on the rise under Shinzo Abe, which could increase tensions with the US, its long time ally, and may affect Australia's relationship with both.
Inflation decreases chance of rate hike
The March quarter CPI of 0.6% was below expectations, decreasing the odds of an RBA rate hike despite headline inflation at its fastest pace in more than two years.
Property hotspots that cooled off
The next "big thing" in property locations is always a popular topic, but not all such suburbs deliver on the hype, as shown by the last couple of decades across Australia's cities.
Review: Samsung Gear 2 smart watch
Samsung's new Gear 2 is handy when you can't find your phone, although new fitness features aren't perfect, and battery life is disappointing.
