Big bank and bad advice
Almost 100 clients lost tens of millions of dollars due to Rollo Sherriff's advice while the Commonwealth Bank stood by.
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Key Stories
US jobs growth in surprise jump
US employers hired workers at the fastest clip in more than two years in April, pointing to a rebound in economic growth.
Cabcharge left with a hard road
As governments and the competition circle, Reg Kermode's dominant company faces testing challenges after his death.
$30m retirement fund kicks goal for AFL
AFL players are being set up for life after an investment fund has grown to almost $30 million.
Myer vows return to profit growth
Australia's biggest department store has vowed to return to profit growth next year.
Apps mean its changeover time for taxis
Economically speaking, a modern-day mercenary hitch-hiking system would be a great thing.
Macquarie chief cool on commodity buys
Nicholas Moore plays down the prospect of large acquisitions in the commodities sector.
- Business Agribusiness Asian dining boom a missed chance
- Business Banking Charging banks can be terminal for US prosecutors
- Markets Gains Commodities outshine iron ore's price slump
- Markets Markets Australian shares end week down
Market Indices
Last updated: May 2, 2014 - 4:52PM
Last updated: May 2, 2014 - 6:01PM
Last updated: May 3, 2014 - 7:16AM
Last updated: May 3, 2014 - 2:00AM
Currencies
| Last updated: | |
| United States Dollar | |
|---|---|
| 0.9279 | 0.00% |
| Euro | |
| 0.6690 | 0.00% |
| British Pound | |
| 0.5501 | -0.02% |
Markets Live: TWE high on Pernod
Live
Shares finish in the black after a late rally led by the banks, with Macquarie posting gains after posting full-year results.
In Depth
Tax returns to be axed for 1.4m
Up to 1.4 million taxpayers will be freed from the hassle of completing a tax return and will receive a "thank you" receipt.
Selling a world champion
Four Australian companies have made world's yop 50 list, but one has a sell recommendation on it.
Gerry Harvey hits out at deficit levy
Gerry Harvey says the proposed deficit levy will do nothing to fix the big economic problem facing Australia.
Trading Room
Risky business: PE floats not always as they seem
You can't blame private equity (PE) for selling dud floats to ignorant investors.
'Actively disengaged': Why you hate your job
Look at the co-worker to your left. Now, to your right. At least one of them hates their job. Maybe you do, too.
Business News Wire
Markets
Australian shares open flat
The Australian share market has opened flat as cautious traders wait for the release of key employment figures in the US.
Australian dollar treads water
The Australian dollar is under pressure as talk of possible tax hikes in the government's budget fuels expectations that interest rates will stay on hold for longer.
US stocks mixed ahead of jobs report
US stocks have finished mixed after a busy day of economic data releases ahead of Friday's closely-watched monthly jobs report.
- Global markets UK stock market gains on upbeat earnings
- Currencies British pound near five-year high
- Resources Iron ore heading towards two-year low
- Returns 'New neutral' funds rate nothing to sneeze at
- Eco US Fed trims stimulus, upbeat on economy
- Banks slip as wary investors take profits
- What's on Business calendar, April 28-May 2
Asian IT stocks on the sale rack
Search Quotes & Charts
The Economy
Commission of Audit: What's in it for business?
Australia Post, Snowy Hydro, the Moorebank Intermodal company and the Australian Rail Track Corporation are among the prizes for businesses.
Cash property buyers sideline RBA
The rising influence of Chinese investors means the RBA has lost its ability to use the official interest rate as a tool to protect Australian investors against a housing bubble.
Retail
Retail boss Mark McInnes blasts Labor, slams high wages
Former David Jones boss Mark McInnes has introduced a speech by federal treasurer Joe Hockey with a blistering attack on the previous Labor government's management of the economy.
Myer shares fall on sales figures
Myer shares have fallen sharply after the retailer reported a slight decline in total sales for the third quarter.
Banking & Finance
ANZ surge signals bumper profits for big banks
ANZ Bank has set the scene for more bumper profits and big dividend increases from Australia's major banks, delivering an 11 per cent surge in earnings.
Good signs for ANZ’s Asian foray
Analysis: Is ANZ's aggressive push into Asia finally starting to pay off?
- Elizabeth Knight ANZ lives up to the hype
- Levy Wounds too deep for deficit tax band-aid, says ANZ chief Mike Smith
- Financial Services Overseas expansion has pros and cons
- Banking Risky drive for mortgage sales: Bendigo chief
- Banking CBA to introduce smartphone ATM withdrawals
- Banking Interest rate rises may leave banks exposed
Mining & Resources
Padbury shares plunge 79% as Oakajee fail comes back to bite
Investors hammered Padbury Mining as the iron ore tiddler exited a trading halt on Friday.
Rio Tinto to cut jobs at Hail Creek mine
Rio Tinto is cutting an unspecified number of jobs at it its Hail Creek coal mine in Queensland
World Business
Twitter shares plunge to historic low
Twitter's slowing user growth pushed the stock to the lowest since last year's market debut.
Rio Tinto sues Vale, Israeli billionaire
Rio Tinto sued Vale SA, Israeli billionaire Beny Steinmetz and his BSG Resources Ltd. alleging they conspired to steal mining rights to the world's biggest untapped iron-ore deposit by bribing officials in Guinea.
China
China PMI figures disappoint
China's manufacturing grew less than economists estimated in April, underscoring weakness in the world's second-biggest economy.
Pigs not flying as Asia's biggest IPO canned
China's WH Group Ltd, the world's biggest pork company, has postponed its planned Hong Kong initial public offering (IPO) due to weak demand for the deal even after it cut the offer size by two-thirds.
Property Focus
Mirvac on target to reach earnings guidance
Diversified property group Mirvac has confirmed its on target to achieve an 8.3 per cent to 10 per cent growth in 2014 earnings per share equal to between 11.8 to 12 cents per security.
New player AG&E; in $95m pubs splurge
A new entrant has emerged in the busy listed pub market with Australian Gaming and Entertainment (AG&E;) unveiling a portfolio of five properties in western Sydney, valued at about $95 million.
Stockland not increasing Australand offer
Stockland has declined to offer Australand investors any new deal until it can get access to the target’s books to do more thorough due diligence, according to the Stockland chief executive, Mark Steinert.
20 Martin Place on track
- Property Barangaroo on track to be Asia-Pac financial hub: Baird
- Commercial Property Lend Lease close to Bluewater sale
- Commercial property Prime CBD rents at $1 million a year for 100sqm
- Commercial property Docklands and Southbank lead way for new spaces
Baby boomers left with nowhere to go
China's property dragons are just warming up
Michael Mai believes the surge of Asian investment in Australian property has a long way to run.
Executive Style
Cyclists: how vulnerable do you feel?
As the car hit my bike from behind, a strange thought flashed through my mind.
Money
Packing a punch from the past
Collecting vintage tins, bottles and jars has become a popular hobby among Australians.
Huff and puff won't push up rates
Borrowers can relax - there's not much chance of a rate rise any time soon.
Small Business
'Holidays are when the wheels fall off'
How on earth do working parents manage vacation childcare for 12 weeks a year?
Seriously stupid job interview questions
Would you work for a business that asked you what would be on your gravestone? Or what ice cream flavour you are?
Business Video
The Audit Commission's brave new world
Do you really want more of the nation’s future in their hands? Michael Pascoe investigates.
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Comment & Analysis
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Recovering retailers brace for tax whack
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