RBA eerily quiet on high dollar
David Bassanese | The resilience of the Australian dollar in recent months has been surprising, particularly given export commodity prices has resumed their slide. Only more surprising is the fact that the Reserve Bank of Australia has gone relatively quiet on the jawboning front, even though the $A is now as overvalued as it was in late 2012.
Equities sold off as investors back bonds
Equities have been sold off around the world amid renewed investor concerns about ongoing sluggishness in the global economy.
Brazil’s Vale set to mothball NSW Integra coal mine
Brazil’s Vale is poised to mothball its Integra coal mine in the Hunter Valley, delivering another devastating blow to the beleaguered sector, sources told Street Talk.
Goodman Fielder suitors First Pacific, Wilmar close in
First Pacific and Wilmar International has revealed it has conditional agreements to purchase part of the stakes of Goodman Fielder’s two largest shareholders.
Labor’s $18b veto of ‘mean’ budget
The federal opposition has dramatically raised the budget stakes with leader Bill Shorten announcing Labor would block cuts to the dole, HECS, pensions, prescription drugs and family tax payments.
ANZ takes an axe to equities
ANZ Banking Group became the latest player to take an axe to some trading functions on Thursday, closing down its equity derivatives business among others.
Blackstone thwarts Packer’s Vegas comeback bid
James Packer has missed out on the chance of returning to the US casino market after property giant Blackstone emerged as the new owner of The Cosmopolitan of Las Vegas.
CBA faces likely $200m class action for ‘bad advice’
Commonwealth Bank of Australia is facing a likely class action brought by Shine Lawyers on behalf of thousands of investors who lost millions as a result of allegations of bad advice and systematic failures.
Fear factor of foreign investment hits home
Alarmed by rising house prices, home owners and investors have locked horns with property developers over the impact of foreign buyers in the Australian market.
How to get around the debt levy
People earning more than $180,000 will have nine months to salary-package and avoid the debt levy because of a loophole in the budget.
Don’t dismiss double dissolution threat
Conventional wisdom has been that Tony Abbott would have to have rocks in his head to contemplate a double dissolution election, but senior Liberals believe he’s serious.
Chinese princeling rebuilds Sydney icon
Thirty million dollars is a pretty penny to spend on a home you want to bash down.
Brazil’s Vale set to mothball NSW Integra coal mine
Brazil’s Vale is poised to mothball its Integra coal mine in the Hunter Valley, delivering another devastating blow to the beleaguered sector, sources told Street Talk.
How airlines can help you sleep
Business travellers need to hit the ground running so ST looks at how airlines are tempting travellers with sleep aids.
Who guards the internet guards?
Opinion | A Senate committee is investigating a proposal that indicates our authorities view ordinary people as criminals in waiting.
Whisky war over ‘doublewood’ name
A whisky war that harks all the way back to the 1870s is brewing over a modern-day trademark.
A smartwatch for the fashionable
What if you could turn your beloved mechanical watch into a smartwatch?
iPhone 6 ultra-sharp screen tipped
For months, reports have said the next iPhone will feature larger screens, new speculation says it may also feature a significantly higher resolution.
US begins hunt for rich Russians’ ‘shiny toys’
Russia’s super rich have for years shielded assets abroad. But US agents are preparing to swoop.
Users ask Google to remove personal data
Google is already getting requests to remove objectionable personal information from its search engine after a ruling by Europe's top court.
Yoghurt maker five:am taps Asia
Australia’s fastest-growing organic dairy company is looking for partners and considering an IPO as it enters a new phase of Asian expansion.
Abbott’s office puts Fairfax papers in the sin bin
Fairfax Media is in the freezer. Just ask the Prime Minister’s Office.
ANZ’s goMoney app stops working
ANZ customers have been left unable to access their funds using the bank’s smartphone apps because of “technical issues”.
National
Government may negotiate on $7 co-payment
The government could be willing to negotiate on the $7 medical co-payment to appease a hostile senate and avoid a double-dissolution election, according to health minister Peter Dutton.
- Labor’s $18b veto of ‘mean’ budget
- Audit chiefs at odds over budget
- Westacott warns on ‘heavy-handed’ action on tax
- Fear factor of foreign investment hits home
- ‘No crocodile tears’ for ICAC, vows Tinkler
- States reject calls for infrastructure analysis
- Cabinet told insulation plan was ‘on track’, Rudd says
- Metgasco drilling stopped, referred to ICAC
- Voluntary home loan repayments ‘low’: Fitch
Abbott’s reverse course
The cohort of like-minded Liberal state premiers that was supposed to make life easy for Tony Abbott has suddenly turned into his biggest problem.
Opinion
Tanna appointment – sometimes it pays to be bold
Chanticleer | Every so often an individual in business is able to transform an entire industry by dispensing with the entrenched positions.
Oil rig sparks violent protest as China claims disputed site
Less than a week after President Barack Obama visited the Philippines and signed a new 10-year defence deal, boosting US military presence in the region, China made its move.
First class pays a lot for leg room to keep us all flying
Megan McArdle | Next month, American low-cost airline JetBlue is adding a first-class section to its hitherto classless – but relatively classy – planes.
World
Credit Suisse nears $US2.5bn tax deal with US
Credit Suisse Group is expected to plead guilty and pay nearly $US2.5 billion to US authorities to end a probe of potential tax evasion involving the Swiss bank, the Wall Street Journal reported.
- Anti-China riots spread into central Vietnam
- James Packer’s bid for The Cosmopolitan misses mark as Blackstone swoops
- Japan’s GDP rises fastest in nearly three years
- NZ projects first budget surplus in 7 years, eyes tax cuts
- Modi set to rule India as BJP bet on one-man campaign pays off
- UK jobs growth rises at fastest pace in 43 years
- Profit jumps at luxury goods house Richemont
- Anti-immigration party is shaking up the political order in Britain
- Venezuela protests heat up amid opposition rift
Modi should stick to pledge of toilets before temples
David Pilling | Narendra Modi, the man most likely to become India’s next prime minister, has a wicked turn of phrase. He once subverted his strong association with Hindu asceticism by declaring support for “toilets before temples”.
Business
Westfield in final cut for Bluewater as demerger looms
Westfield Group, the world’s largest retail landlord, has been ushered into the final round for Lend Lease Group’s $1 billion stake in the sprawling UK Bluewater shopping centre.
- Goodman Fielder suitors First Pacific and Wilmar close in
- CBA faces likely $200m class action for ‘bad advice’
- Call for tax breaks for venture capital
- Graincorp first-half profit falls on smaller crop
- Euroz buys Blackswan Equities, issues 5.2m shares
- Mobile customers to pay more for rising telco profits: Optus
- Crown US joint venture offloads racetrack, casino
- Westfield reports improving retail sales
- Optus, Vodafone rally against Telstra subsidy
Day of reckoning for shares ‘inevitable’
One of the world’s most revered investors, Howard Marks, has challenged Australia’s superannuation industry to rethink its love affair with shares, saying that a “day of reckoning” for stocks is inevitable.
Technology
Uber set to join the $US10 billion club
San Francisco-based online car booking service Uber Technologies is seeking to join the $US10 billion-plus club.
- Who guards the internet guards?
- NICTA boss blasts government over budget axe
- Optus, Vodafone rally against Telstra subsidy
- MyGov website flaw exposes Australians’ data
- Mobile customers to pay more for rising telco profits: Optus
- Telstra trials mobile internet that’s faster than NBN
- Google Glass goes on sale for $US1,500
- Apple iPhone 6 to have ultra-sharp screen resolution: report
- Users ask Google to take down personal information
Markets
Global equities sell off on data, Wal-Mart
Before the Bell | European stocks closed lower and losses on Wall Street followed as small-caps fell out of favour and Wal-Mart disappointed ■ S&P 500 falls 0.9pc ■ SPI futures down 29 pts ■ $A at US93.56¢.
- $A weaker as euro zone data disappoints
- ANZ takes an axe to equities
- Wall St closes lower for a second session
- US bond rally has analysts scratching heads
- Paulson maintains his bullish bet on gold
- Chinese book forex losses on back of weaker yuan
- RBA $A jawboning unlikely to return
- Lisbon, Milan losses knock European shares
- Day of reckoning for shares ‘inevitable’
Celebs and hedge fundies talk bonds in Vegas
For the 1500 hedge fund managers, brokers and salespeople who have descended on the Bellagio Hotel on the Las Vegas Strip for the SkyBridge Alternatives Conference, the chatter in the expansive and decadent hallways is what to make of a bond market that continues to defy gravity
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.
Gen X could get 35pc less in pension
Linking the age pension to inflation will mean that beneficiaries will receive 55 per cent less in just over 30 years’ time than they would under the current arrangements, experts have calculated.
Lifestyle
Powder bound in North America
Snow lovers searching for a northern winter playground will find it high above Lake Tahoe on the California-Nevada border – even if locals don’t rate your chance.
High adventure deep underground in NZ’s caves
There’s no better test of your tolerance for claustrophobia than a morning spent caving in King Country on the North Island.
Wythe Hotel a rising star in NY’s hippest borough
Australian Peter Lawrence has helped to transform an historic warehouse into a chic bolthole in one of New York’s most storied and vibrant neighbourhoods.
Ladakh, a frontier region close to heaven
The land of prayer flags and high passes offers a giddy mix of art, culture, religion and majestic mountain scenery.
Latest TV
US bond yields buck expectations
Investors in the US bond market have been caught offside so far this year. Phil Baker explains where yields look set to go next.
The politics of a tough budget
The Abbott government has handcuffed unpopular petrol and Medicare moves to grander initiatives, but has a tough political sell ahead for the budget.
Budget bribe for hiring older workers?
Treasure Joe Hockey's budget incentive for employers to hire workers over fifty just might work given it's $10,000, compared to the previous $1,000 carrot.
Less time to settle trades
The ASX is introducing T+2 settlement, which means investors will now have less time to settle trades, bringing us in line with others around the world.
