Coles rejects ACCC allegations
Supermarket chain Coles has categorically rejected Australian Competition and Consumer Commission allegations that it engaged in unconscionable conduct to force smaller suppliers to pay additional rebates to fund a new supply chain program. In a 34-page defence filed in the Federal Court in Melbourne on Monday, lawyers for Coles rejected key claims by the ACCC, which launched legal action in May.
Inequality threatens global peace: Bishop
Foreign Minister Julie Bishop has warned territorial disputes and inequality which foments extremist movements are the two biggest current threats to maintaining global peace and stability.
Shares rise 12.4pc for FY14 after June falls
Australian shares have posted double-digit returns for the second financial year in a row, up 12.4 per cent over the 12 months to June 30, 2014, fuelled by record low interest rates.
Superpartners pulls the plug on botched IT project
Australia’s biggest superannuation administrator Superpartners has been forced to pull the plug on a bungled project to build a new technology platform, which blew its budget by at least $180 million.
Super funds set for another double-digit year
Superannuation fund members are on track to be the beneficaries of a second consecutive year of double digit returns, thanks to soaring equity markets. The average balanced retirement fund is expected to record a rise of about 13 per cent.
Clive Palmer gains voter support as major parties drop
The Coalition and Labor party have both lost primary polling support in the past fortnight with the Palmer United Party picking up support, according to a poll released on Monday.
House prices, offshore funding key risks for banks
The big question for investors in Australian banks remains whether share prices can keep it up in the face of weak demand for loans and economic uncertainty.
‘Euphoric’ markets at risk of another crash
Philip Baker | The Bank for International Settlements says financial markets are losing touch with reality and another crisis could be just around the corner.
Puma pays $US525.6m for InterOil’s refinery
Puma Energy, one of the most acquisitive players in the fuel sector, has snapped up InterOil’s refinery and distribution business for $US525.6 million.
CBA seeks end to ban on planners’ super incentives
The Commonwealth Bank of Australia has asked the federal government to wind back the ban on paying incentives to planners advising employers on selecting default super funds.
How your stocks performed this year
Interactive | Explore our interactive graphic and table to see how your shares across the S&P/ASX 200 performed during the 2013-14 financial year.
The ugly, Brucing nature of politics
Mark Latham | Anyone rising to the top of Australian politics can be the victim of smear campaigns related to their employment before they entered Parliament. Consider Julia Gillard.
Chinese workers are dying at their desks
China is facing an epidemic of overwork, with about 600,000 Chinese a year reportedly dying from working too hard. China Radio in April reported a toll of 1600 every day.
Mostyn to buy nation’s largest abalone business
A privately-owned Western Australian group has won an auction for the country’s largest abalone aquaculture business, Great Southern Waters.
Protect your smartphone from your boss
Employees can lose out when they use their own smartphone, tablet or notebook at work.
ACCC takes Spreets to court
The ACCC is taking the Yahoo-owned group buying website Spreets to the Federal Court, alleging misleading conduct.
Netflix delays Australian roll-out
A long-rumoured move by US online streaming giant Netflix to dominate the Australian market appears to have been delayed.
Card PIN change ‘like Y2K’ for pubs
Pubs and restaurants fear they will be left high and dry when signatures will no longer be allowed on credit card transactions.
SBS World Cup coverage hijacked by pirates
FIFA and broadcaster SBS are seeking details about pirate broadcasters of the World Cup, who are undermining their exclusive deal.
Alan Jones pops an airport angry pill
Rear Window | It does seem strange to us that Sydney radio host Alan Jones is boring his listeners with rants about a western Brisbane airport.
Tennis sensation Kyrgios bucks the odds
Standing at 1.93 metres, Australia’s latest tennis star Nick Kyrgios has taken his career to new heights.
Tesla supercar to arrive in September
“There’s a belief your manhood is somehow diminished if your car doesn’t make a loud noise,” says Simon Hackett.
Interactive quiz | Billionaires and hipster coffee
See how much you know about the Rich List and the odd ingredient hipsters are adding to their coffee in our interactive quiz.
How much cologne is too much?
If people keep asking you what cologne you’re wearing, chances are you’re wearing too much.
National
Clive Palmer gains voter support as major parties drop
The Coalition and Labor party have both lost primary polling support in the past fortnight with the Palmer United Party picking up support, according to a poll released on Monday.
- Super funds set for another double-digit year
- Turnbull says 49pc tax rate ‘too tough’
- Cyber attacks a threat to US investment in China, Kurt Campbell says
- New home sales fall amid signs cycle has peaked
- Winemaker Doug Lehmann dies
- Inflation gauge flat in June
- APRA boss John Laker tells Joe Hockey don’t undermine bank safety
- Labor will support welfare changes with conditions
Australia’s banks the world’s most profitable
Australia’s major banks are the most profitable in the developed world, the Bank for International Settlements says, in figures that highlight the big four’s consistently high returns as an inquiry investigates competition.
Opinion
Teaching kids coding and reap the benefits
Do you see anything in common between the biggest innovations in recent decades?
The case builds for alcohol tax reform
The alcohol industry wants the Abbott government to reform alcohol taxes, and claims it would be in the nation’s interest. And guess what, it’s right.
Every ass loves to hear himself bray
Mark Textor | Many fear the imagined demons that are ”Big Coal”, “Big Pharma” and ‘Big Data”, but I’d be worried about “Big Vain”, for a new vanity is spreading into every part of public life.
World
Inequality threatens global peace, says Julie Bishop
Foreign Minister Julie Bishop has warned territorial disputes and inequality which foments extremist movements are the two biggest current threats to maintaining global peace and stability.
- Iraq mounts major effort to recapture Tikrit
- Facebook under fire over emotion manipulation tests
- Israel ready to launch major offensive on Gaza
- Argentina teeters on brink of default
- Australia helps Asia surge to M&A; record
- Chinese banks make one-third of global profits
- ISIS: the richest jihadist group ever
- Learning from Thailand’s political woes
Meet Morgan Stanley’s James Gorman, Wall Street’s ‘invisible’ chief
While Morgan Stanley chief James Gorman, might not have the outsized profile of rival Wall Street chieftains like Jamie Dimon or Lloyd Blankfein, he can live with it.
Business
CBA seeks end to ban on planners’ super incentives
The Commonwealth Bank of Australia has asked the federal government to wind back the ban on paying incentives to planners advising employers on selecting default super funds.
- South Africa’s Woolworths rules out higher Country Road bid
- Rio Tinto to approve Qld bauxite mine
- Winning buys WA’s Kitchen Headquarters
- Healthscope chief Robert Cooke to earn $14.7m in float
- Goodman Fielder suitors seek to reduce offer price
- S&P; lifts Fairfax Media rating outlook
- Vocus to buy NZ’s FX Networks
- Ex-RAMS chief Melos Sulicich to head MyState
Henderson’s Geneva buy fills US gap
Chanticleer | Andrew Formica at Henderson Group will be taking a rest from acquisitions for some time after finally filling the hole in his global footprint with the $212 million acquisition of Geneva Capital Management.
Technology
Proposed ASIO spying laws threaten bystander privacy
Civil liberties groups have criticised proposed laws allowing spy agencies to access the computers of a suspect’s associates as part of investigations.
- Broader scrutiny of NBN closer to reality
- The key to Cupid Media’s privacy woes
- Westpac eyes up more outsourcing
- ACCC takes Spreets to court
- Vocus to buy NZ’s FX Networks
- Netflix moves focus to Europe, delays Australian roll-out
- Facebook ‘emotional contagion’ research met with anger
- Opportunity for payment apps like Clipp and Aston Club as pubs face end of signatures
- SBS exclusive World Cup coverage hijacked by pirates
Apps to make tax time less taxing
After years of not allowing tax returns to be done on Macs, the ATO now has an iPhone app, and it’s pretty good.
Markets
Shares rise 12.4pc for FY14 after June falls
Australian shares have posted double-digit returns for the second financial year in a row, up 12.4 per cent over the 12 months to June 30, 2014, fuelled by record low interest rates.
- Australia helps Asia surge to M&A; record
- $A trades above US94¢ on weak US data
- Solid year’s end tipped from market
- ‘Disappointing element of déjà vu’ in investor behaviour
- The challenge of ethical investing
- Duketon names new chief ahead of listing
- Galdino Claro puts pedal to the metal to power up Sims
- Barclays charged over client fraud
Chinese banks make one-third of global profits
China’s top banks accounted for almost one-third of a record $US920 billion of profits made by the world’s top 1000 banks last year, showing their rise in power since the financial crisis, a survey revealed on Monday.
Personal finance
Millionaires’ five big investing mistakes
Even the super-wealthy make simple errors of judgment when it comes to their investments. Here’s a handful of common mistakes that are well worth avoiding.
Rezoning could make your house a developer magnet
The next knock on your door could be an unsolicited offer to buy your house. Armed with a friendly smile, the unexpected visitor may tell you they’re thinking of moving into the area.
Lifestyle
Hot ideas for restaurants in a winter slump
Innovative chefs are working hard to warm you up during a traditionally tough season for restaurants.
London menswear: from punk to pedigree
The Brit capital showcases a rich melting pot of mens’ fashion, infused with hip-hop, sport and out-there experiments.
Best hotels, bars and dining in London’s city
New buildings compete for the mantle of most dazzling – and in some cases, most gauche – in the historical CIty of London.
Aspen in summer
Colorado out of winter is alive with culture and wildlife, every bit as breathtaking as its steep slopes and famous ski scene.
Latest TV
Banks lead top stocks of 2013/14
For all the gloomy talk about a mining slowdown and retail jitters, every sector on the stock exchange enjoyed strong gains in the last financial year - especially banks.
Could low interest rates cause the next bubble?
Is there too much investor trust in central banks? Low interest rates have driven strong returns but the Bank for International Settlements is concerned.
CBA could help lıft fınancıal planner standards
Commonwealth Bank CEO Ian Narev has an opportunity to help lift the standard of financial planners in Australia, starting with requiring a university degree.
New home sales drop despite housing shortage
Sales of new homes fell in May, with the Housing Industry Association even suggesting sales may have peaked despite ongoing housing supply shortages.
