When technology collides with old rules
John Kehoe | Innovative start-ups such as online accommodation marketplace Airbnb and venture-funded transportation network company Uber are being curtailed by meddling regulators around the world. These “sharing economy” businesses, each valued around $US10 billion, should be allowed to flourish to their maximum potential to benefit vendors and consumers alike.
Shares rise as Telstra hits 12-year high
Shares bounced off a morning low to close stronger as Telstra hit a 12-year high. Investors warmed to the latest confirmation by the Reserve Bank that interest rates are firmly on hold, while shrugging off concerns about declining consumer confidence and a slump in the iron ore price.
Europe set for debt ‘fire sale’
Marathon’s Bruce Richards estimates that about 80 per cent of $1.5 trillion of European banks’ non-performing loans will be offloaded by institutions that must either shrink or raise capital.
Brokers back iron ore stocks despite price slump
The spot price for iron ore has had a shakeout but analysts’ recommendations for stocks in the sector haven’t moved.
Lower capital inflows will help bring $A down: Debelle
Reduced demand for offshore funding from banks and lower levels of foreign investment are likely to put downward pressure on the Australian dollar, RBA assistant governor Guy Debelle says.
Global rebound buoys super returns above 10pc
Superannuation funds are on track to deliver returns of more than 10 per cent for the second financial year in a row, as retirement savings are propelled higher by a global surge in shares.
KKR says no breach in $3.05b Treasury bid
Updated | Private equity firm Kohlberg Kravis Roberts denies it breached confidentiality agreements by going direct to institutional shareholders in Treasury Wine Estates with a $3.05 billion takeover approach.
Genworth soars 12pc in opening trade on ASX
Shares of Genworth Mortgage Insurance Australia soared 12 per cent in their first half hour of trade after Australia’s biggest lenders mortgage insurer made its public debut on the Australian Securities Exchange on Tuesday.
Abbott calls Labor ‘fiscal vandals’ over AAA
Prime Minister Tony Abbott has accused Labor of fiscal vandalism after ratings agency Standard & Poors warned the nation’s AAA credit rating could be a threat unless substantial budget savings were made in coming years.
BAML poaches Tom Butcher from Rothschild
Tom Butcher, a former Rothschild operative, will join Bank of America-Merrill Lynch at the end of July as a managing director in the investment banking division.
Samsung’s HU9000 is not a TV, it’s a monitor
Adelgunde, the chairman, president and warden of my household, says I watch too much TV.
Wolf of Wall Street sets sights on $US100m
Jordan Belfort expects to earn more this year than he made at his peak as a stockbroker, allowing him to repay the victims of his fraud.
Bitcoin exchanges probed over Silk Road
Bitcoin exchanges received subpoenas from Manhattan federal prosecutors in recent months as they look into possible ties to online drug market Silk Road.
Etihad to keep an eye on randy passengers
Rear Window | Etihad Airways made a splash earlier this month with its new A380 product, including a three-bedroom Residence in the sky.
Is red wine good for your health?
The long-held belief that a little red wine each day can be good for you is being challenged.
Tycoon to pay $US4.5b in record Swiss divorce
Russian oligarch Dmitry Rybolovlev has been ordered to pay 4.02 billion Swiss francs to his ex-wife in what’s believed to be a record divorce for Switzerland.
No-PIN Eftpos on its way
Shoppers will soon be able to swipe their eftpos debit cards for small payments, as the movement away from cash continues.
Bitcoin’s new investors: ‘change is happening’
Domenic Carosa is bullish on Bitcoin, which is unsurprising for a digital entrepreneur. But he’s not investing directly in the crypto-currency.
Microsoft to launch mini tablets?
Is this the week that Microsoft jumps aboard the mini tablet train bound for glory? It looks like it might be. A Tuesday event in New York promises big little things.
Inked in: would you have your company’s logo tattooed on your back?
When you get fired, the most important thing is to put it swiftly behind you. That is going to be quite hard for Jill Abramson, who was sacked as editor of the New York Times last week but who has part of the newspaper’s logo tattooed on her back
National
Treasury warns on productivity
Updated | Treasury secretary Martin Parkinson has challenged the states to recognise they have their own ways of raising taxes, rather than relying primarily on Canberra to fund hospitals, schools and infrastructure.
- Labor vows to block rise in superannuation age
- Henry Review member calls for GST increase
- Greens threat to block Cambodia refugee deal
- Rabbits, rugby and rallies as Abbott budget ‘punches’ through
- Australian spy web reaches Philippines
- Change, not scrap RET : AiG
- Australia’s AAA credit rating at risk: S&P;
- Profit shifting not just a tech problem: ATO
Opinion
The truth about our welfare state
Editorial | A budget which finally faces up to the fact that governments are spending more than Australians are prepared to pay in taxes was bound to be a tough sell.
Why selling put options is a sensible strategy
A major part of any derivatives strategy should be taking profits when they are justified.
World
Thai army declares martial law to curb protests, denies coup
Thailand’s army imposed martial law nationwide after months of political turmoil that brought down an elected government and tipped the economy into a contraction.
- US charges Chinese officers with cyber spying
- A political dynasty in India and a crippling defeat
- US spy charges against China part of Snowden drama
- Half-hearted coup no fix for Thailand impasse
- Credit Suisse pleads guilty, to pay $2.6bn in penalties
- China’s corruption probe nets corruption inspector
- Putin poised to sign historic gas deal with China
- Carney says house prices pose biggest risk to UK economy
- Bubble brewing from UK shale land-grabs
Business
KKR says no breach in $3.05b Treasury bid
Updated | Private equity firm Kohlberg Kravis Roberts denies it breached confidentiality agreements by going direct to institutional shareholders in Treasury Wine Estates with a $3.05 billion takeover approach.
- Genworth soars 12pc in opening trade on ASX
- Spark Infrastructure raises $200m to buy into Duet
- Ruralco swings to first-half profit on better sales
- iSentia set for $408m market cap
- Global rebound buoys super returns above 10pc
- Woolworths opens door to David Jones property sales
- Country Road to build $53m distribution centre
- UGL may hang on to DTZ after sole funded bid
Technology
Telstra confirms $100m public Wi-Fi plan
Updated | Telstra will spend about $100 million building what it claims could become one of the world’s biggest Wi-Fi networks in an effort to attract and keep its customers.
- US spy charges against China part of Snowden drama
- US charges Chinese officers with cyber spying
- Optus claims $28m after project axed
- Coalition still waiting for offers on $2bn NBN satellites
- Bitcoin exchanges probed over Silk Road link: report
- No-PIN Eftpos on its way
- Telstra to build national Wi-Fi hotspots
- Tech firms fight for HP’s lucrative BoQ deal
Markets
Shares rise as Telstra hits 12-year high
Shares bounced off a morning low to close stronger as Telstra hit a 12-year high. Investors warmed to the latest confirmation by the Reserve Bank that interest rates are firmly on hold, while shrugging off concerns about declining consumer confidence and a slump in the iron ore price.
- $A falls below US93¢ on RBA update, iron ore
- Consumers likely to cut spending as confidence falls
- Economy fails to bring higher living standards
- Miners brace for hit as iron ore slides below $US100
- Internet, biotech stocks lift Nasdaq
- AstraZeneca, Deutsche Bank hit European shares
- Chances for June ECB action surge higher: Mersch
- China regulator sees 100 IPOs from June to year-end
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.
Latest TV
Thodey's five good years at Telstra
David Thodey celebrates five years as the head of Telstra, has delivered for shareholders and has done a better job than many CEOs, including his predecessor.
Plan Melbourne adjusted as population surges
Victoria's updated Plan Melbourne document now allows for 1.6 million more homes and a population of 7.7 million people by 2051, and is unlikely to please everyone.
Treasury's Parkinson warns on productivity
Treasury secretary Martin Parkinson has challenged the states to recognise they have their own ways of raising taxes, rather than relying primarily on Canberra.
GDP per capita drops
To an outside observer of Australia, the ‘mood’ across the country might appear at odds with the data. Deutsche Bank says perhaps we're looking at the wrong graphs.