Late rally overcomes mining sell-off
Australian shares notched up a seventh consecutive session of modest gains after recovering from an afternoon slump led by a sell-off in iron ore and coalminers. Three of the big four banks are at record highs as investors continue to pile in ahead of dividend season next month.
Sportingbet chief may be on his way out
The Australian operations of William Hill are set for a major management reshuffle, with current leaders likely to leave the country’s largest online-only operator.
Tinkler, Triguboff donated to Liberal slush fund
Updated | Coal baron Nathan Tinkler and Harry Triguboff of Meriton and tens of other property developers are alleged to have been involved in a “systematic subversion of NSW electoral funding laws” via Liberal Party slush funds.
Goodman Fielder urged to engage with Wilmar
Updated | One of Goodman Fielder’s biggest shareholders says Wilmar International and First Pacific’s $1.27 billion takeover offer is opportunistic but is urging the board to engage with the bidders.
MH370 search changes tack with request for help
Prime Minister Tony Abbott says private companies will be engaged and funds sought from other countries as the search for missing flight MH370 enters a new phase.
James Packer’s music venture may not pay
Reports of weak subscriber interest surrounding the latest entrant in the competitive music streaming market, Beats Music, pose a worrying sign for its coterie of billionaire investors including Australian James Packer.
Melbourne developers to be hit for more green funds
The City of Melbourne will consider a new CBD apartment levy, infuriating developers and placing state planning minister Matthew Guy in an awkward position ahead of a state election.
Investors turn to gold as Ukraine tensions rise
Investors have returned to gold just in time for the longest price rally in a month amid mounting tension over Ukraine.
Spotless IPO to raise $1bn
Updated | Spotless Group will raise approximately $1 billion in an initial public offering after a rapid turnaround for the cleaning and catering contractor since Pacific Equity Partners took it private in 2012.
Goodman bid opens door to higher offer
Chanticleer | You can hardly blame Singaporean agribusiness group Wilmar for making what the target calls an opportunistic takeover bid for breadmaker Goodman Fielder.
Bankers confident as M&A rebounds
A spate of multi-billion dollar deals has local bankers confident momentum for mergers and acquisitions will continue to build, as data shows 2014 has had the strongest start for deal making since before the GFC.
Rich Chinese city in default contagion
A network of loan guarantees set up to improve companies' access to credit in one of China's richest districts is creating new risks of default as some debts sour.
Ever wished for an Apple TV jailbreak? MyGica could be the answer
Windows and Mac users can run Android apps on desktops and notebooks with a wild media box called MyGica.
3D house printing a pointer to future
Melbourne builder Venise Reilly deploys anywhere from six to twenty tradesmen and women for ten to twelve months to raise an architect-designed house. A Chinese company has used 3D printing to bang out ten houses in a day at just over $5000 each.
Lend Lease to unveil HSBC at Barangaroo
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HSBC, one of the world’s largest banking and financial services companies, is the mystery tenant set to move to the $6 billion Barangaroo precinct in Sydney.
‘Modern Family’ a hit for Qantas
Qantas says US views of its website jumped by 25 per cent in the days after an episode of sitcom ‘Modern Family’ filmed in Australia went to air.
Fundie puts Banyule mansion on the market
Fund manager Carl Wilson has listed his sprawling gothic estate Banyule in Melbourne for sale with hopes of achieving more than $5 million.
Sydney’s housing fever cools
There are signs Sydney’s housing market is moderating even as competition continues for properties before they hit the market.
AFL stars and Rich Lister back hospitality app
A group of AFL players and technology entrepreneurs have attracted $1.5 million in funding for their hospitality payment and membership app.
Outsider’s radical plan for higher education
Andrew Norton is an outsider in higher education. He’s not at all part of the clubbish circle of vice-chancellors and bureaucrats who run universities.
Modernising Australian furniture
During the 1950s, Australian designers turned from British style to the natural form of Denmark.
The punctuation appreciation society
Good prose is greeted with loud applause, but good punctuation draws attention to itself only when done badly.
Politicians aflutter as royals hit town
Labor, Greens and Liberal politicians have jostled with children, ambassadors and business titans to get a piece of the royal action.
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.
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.
National
Plan to end $10bn superannuation fee ‘sting’
Superannuation funds should face a regular official tender race to become the nation’s “default” provider in a radical proposal aimed at boosting competition to cut costs that are three times the OECD average.
- Labor attacks debt levy ‘voodoo economics’
- Fair Work Commission stands ground on super review
- Bechtel scrambles for welders for LNG
- Liberal MPs to take centre stage at ICAC
- Business says no to ‘deficit tax’
- Clive Palmer in NT power grab
- Coalition courts PUP over climate policy
- Amputees set for win on NSW workers comp
$800m budget boost by collecting HECS from the dead
Andrew Norton has calculated the government could add $800m to the budget bottom line by reclaiming HECS debts from the estates of the non-payers.
Opinion
Pyne must act now to deregulate university fees
The next era of higher education reform is at last taking shape.
World’s toughest job? Admen keep us guessing
Rowan Dean | In 2009, an Australian ad agency famously created the “Best Job in the World”; in what turned out to be a brilliant campaign.
Japan-China relations cool further
Angus Grigg | China has always been good at finding the weak point in an opponent. In the most basic sense this is how Beijing runs foreign policy and in the last week it has proven yet again to be highly effective.
World
West readies sanctions against Putin’s inner circle
The US and European Union are preparing to impose new sanctions on Russian companies and individuals close to President Vladimir Putin over the escalating crisis in Ukraine.
- Netanyahu says Abbas on ‘damage control’ after Hamas link
- Female ‘Gandhi with guts’ joins election fight
- Malaysian Air breakup case grows after lost jet
- Rising Saudi death toll from MERS
- World Cup city in grip of violence
- Goldman Sachs tops M&A; league table
- Picking up from the Piketty phenomenon
- South Korea’s PM offers to quit
- China top leaders hold fast on policy: Xinhua
Ackman opens up insider trading debate
Maverick hedge fund manager Bill Ackman has whipped up a new storm on Wall Street about America’s murky insider trading laws.
Business
Goodman Fielder urged to engage with Wilmar
Updated | One of Goodman Fielder’s biggest shareholders says Wilmar International and First Pacific’s $1.27 billion takeover offer is opportunistic but is urging the board to engage with the bidders.
- Sportingbet chief may be on his way out
- Spotless Group initial public offering to raise $1bn
- ERM Power shares sink after growth guidance cut
- Acrux falls 15pc on sales warning
- Leviathan partners won’t wait for Woodside
- M2 to cut 150 jobs
- Ex-Xstrata boss in talks on BHP assets: report
- BC Iron profit set to weaken in second half
- WestSide mulls revised $178m bid from Landbridge
Goodman bid opens door to higher offer
Chanticleer | You can hardly blame Singaporean agribusiness group Wilmar for making what the target calls an opportunistic takeover bid for breadmaker Goodman Fielder.
Technology
NAB starts digital review as Nextgen questions remain
The executive who was, until recently, in charge of National Australia Bank’s crucial Nextgen core banking systems replacement program, will kick off a review of the bank’s digital strategy after moving to a new role as part of a major restructure of tech leadership at the bank ahead of chief executive Cameron Clyne’s surprise resignation earlier this month.
- Domino’s adopts 24/7 social media monitoring
- Apple prepares massive bond offer
- Chinese spies may have read all MPs’ emails for a year
- M2 to cut 150 jobs
- Wildly entertaining for Apple TV fans dreaming of jailbreak
- Optus lifts smartphone prices to power profitability
- New York’s Silicon Alley attracts Australian start-ups
- Ericsson: we’re not to blame for NBN roll out delays
- Spy wars fuelled by territorial claims
Apple iPads to get fingerprint security
Code has been found inside the latest version iOS that suggests Apple is planning to add Touch ID fingerprint scanners to iPads.
Markets
Late rally overcomes mining sell-off
Australian shares notched up a seventh consecutive session of modest gains after recovering from an afternoon slump led by a sell-off in iron ore and coalminers.
- $A steady as it looks overseas for direction
- Miners lead afternoon slump on the ASX
- Apple prepares massive bond offer
- Bankers confident as M&A; rebounds
- Buoyant large caps primed to lead way in flurry of takeovers, floats
- Australian business confidence slips on rate worries
- Weak wages point to softer inflation
- Premium benefits but sentiment mixed on IAG deal
- Wall Street hit by Amazon, Twitter, Ford
Case to hold longer-dated bonds is still firmly in place
Michael Mackenzie | Many expect a pick-up in United States economic activity in the second half, but Treasury rates remain low – a conundrum that frustrates bearish bond investors who believe 2014 is the year of much higher yields.
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.
Don’t be a DIY dummy
Australia’s 500,000 self-managed superannuation funds now controlling more than $500 billion in assets need to keep their wits about them.
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
Review: Sony Xperia Z2 - slimmer than iPad Air
Sony's new lightweight Xperia Z2 tablet is thinner than the iPad Air, plus it's waterproof, though its multi-user functionality is a letdown.
Shares appealing for yield chasers
Weak interest rates have made equities attractive to investors, and despite a strong market, there's still value to be had in certain sectors.
Major banks to deliver big dividends
Three of Australia's big banks are set to return plenty of capital - including the odd bonus dividend - to shareholders as they report throughout the first half of May.
Should RBA jawbone the Australian dollar?
The Australian dollar is strong against more currencies than just the US dollar, thanks to Australian domestic factors, and businesses are nervous.
