First Pacific, Wilmar lower Goodman offer
First Pacific and Wilmar have agreed to buy Goodman Fielder for the new price of 67.5¢ a share plus a 1¢ dividend, 2.5¢ less than the previous offer. The deal values Goodman Fielder equity at $1.34 billion, although the consortium already owns 19.9 per cent.
BHP oil exec faces trial over BP probe
BHP Billiton’s petroleum exploration president David Rainey faces trial over criminal charges in the US for allegedly obstructing a congressional investigation into the deadly oil spill caused by former employer BP.
$A tops US95¢, Rio lifts on BAML ‘buy’
Before the Bell | The Australian dollar touches US95¢ for first time in 8 months ■ Shares of Rio Tinto rose 3pc in London, helped by an analyst upgrade ■ Dow up 0.8pc ■ SPI futures up 20 pts.
Medibank takes razor to customer claims jobs
Medibank Private will cut more than 40 jobs from its Melbourne office as it automates the processing of customer claims in a move the insurer has distanced from its upcoming $4 billion privatisation.
Asciano threat to $1b freight hub
Asciano chief executive John Mullen has questioned the economic viability of a new $1 billion freight hub in southwestern Sydney, claiming it may struggle to attract customers.
Abbott slams green power industry
Tony Abbott has sparked a war with the renewable energy sector, saying their product was driving up power prices “very significantly’’ and fostering Australia’s reputation as “the unaffordable energy capital of the world’’.
Advisors get call for Defence Housing sell-off
Several investment banks and advisory firms have opted not to participate in a federal government request for proposal to conduct scoping studies for mooted sales of Defence Housing and Australian Hearing.
NBN Co delays fibre-to-the-basement service
NBN Co has delayed the launch of its fibre-to-the-basement internet service by up to five months. In the meantime it will continue to connect premises using the fibre-to-the-premise technology favoured by Labor.
Blackstone launches its first hedge fund
Blackstone Group, already the largest investor in hedge funds, is signing on a team of three traders for the first such fund that it will manage directly, worth about $US500 million.
REA reps pressure agents to get online renewals
Representatives of realestate.com.au appear to have used the threat of suspension from the website to entice real estate agents to renew contracts with the property advertising service.
David Paradice hands back $800m
Small caps funds manager David Paradice is returning more than $800 million of client funds to stave off future underperformance.
Greens keep Aboriginal people in poverty
Nyunggai Warren Mundine | Aboriginal people are finally getting rights over land back – only for Green groups to say the music’s stopped.
How to avoid hiring a Flanagan
Andrew Flanagan became the poster boy for a growing trend when he hoodwinked recruiters and employers into giving him plum roles.
Scentre in talks to offload stake in NZ portfolio
Scentre Group, the $17.3 billion shopping centre trust born out of the controversy of the Westfield restructure, is weighing the sale of half of its Kiwi mall portfolio.
Kyrgios defeats Nadal at Wimbledon
Australian teenager Nick Kyrgios has beaten world No.1 Rafael Nadal in four sets to reach the Wimbledon quarter-finals.
Reversal of hair loss boost for research
Since images of hair-loss reversal appeared in the international media, Brett King has been receiving 200 to 300 emails a day.
Nick Curtis: from riches to expensive rags
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Rear Window | Nick Curtis has watched the rare earths producer he founded, Lynas Corp, plummet in value – taking his own personal wealth with it.
University of Sydney receives $10.4m gift
The University of Sydney has received a $10.4 million cash donation from one of its own, Professor Brian Trudinger.
Alibaba struggles with smartphones
As China’s 618 million internet users move to mobile devices, the country’s largest e-commerce player is struggling to deal with the lower profit margins.
Protect your smartphone from your boss
Employees can lose out when they use their own smartphone, tablet or notebook at work.
Tom Harley wins more friends
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Rear Window | The re-election of federal Liberal vice president Tom Harley has surprised everyone – probably even himself! But don’t expect Abbott to accept defeat.
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.
National
Abbott slams green power industry
Tony Abbott has sparked a war with the renewable energy sector, saying their product was driving up power prices “very significantly’’ and fostering Australia’s reputation as “the unaffordable energy capital of the world’’.
- Audit commission chair Shepherd: more cuts are needed
- RBA keeps rates on hold at 2.5pc
- Japan visit marks ‘new, special relationship’ with Australia
- Financial advice rules likely to die in Senate within a week
- Tobacco companies’ $2.2b payday
- Victoria wins $85m appeal against Tatts, Tabcorp
- NSW port sales were a big mistake, say Maersk and Asciano
Fresh snow dump sets off a flurry of holiday bookings
A dumping of fresh snow is pushing holidaymakers straight to the ski fields with unique conditions and powder quality not seen in almost a decade.
Opinion
Sailing into the valley of death
If war is too important to be left to the generals, defence procurement is too important to be left to armed services and the Defence Materiel Organisation.
The almost indecent high of chucking things out
Fiona Smith | Who needs drugs when you can throw stuff out? That buzz lasts for hours, with no hangovers or other bad side effects the morning after.
Green groups keep Aboriginal people in poverty
Nyunggai Warren Mundine | Aboriginal people are finally getting rights over land back – only for Green groups to say the music’s stopped.
World
US factory activity steady in June, orders rise
US manufacturing activity rose at a steady clip in June and major automakers reported better-than-expected sales, pointing to momentum in the economy after a turbulent start to the year.
- Obama prods rivals to fund road, bridge projects
- GM, Chrysler, Nissan pace US auto sales in June
- Foreign brands losing out to Chinese rivals: study
- Turkey’s Erdogan will seek presidency to cement legacy
- Blackstone launches its first hedge fund
- Wall St 1st-Qtr revenue hit by subdued markets
- French ex-president Nicolas Sarkozy held for questioning
- For Iraq, potential leader with a tarnished past
UK, Singapore seek to cool down property market
Four months ago, when British finance minister George Osborne made a trip to Singapore, the pretext was to promote a collaborative development of Singapore and London as offshore yuan trading hubs.
Business
Asciano threat to $1b freight hub
Asciano chief executive John Mullen has questioned the economic viability of a new $1 billion freight hub in southwestern Sydney, claiming it may struggle to attract customers.
- Medibank Private to cut 40 customer claims jobs
- Kathmandu founder Jan Cameron’s retail empire collapses again
- REA reps pressure real estate agents to get online renewals
- Former Toyota Australia chief John Conomos to float car radio app firm Connexion Media
- Advisors get call for Defence Housing sell-off
- Woodside gas deal ramps up trading arm
- Transpacific refinances $400m debt
- Telstra, NBN Co face off over $200m bill dispute
- Australian banks not rushing to invest in China’s lenders
Allegations against Coles go from juicy to just damp
Chanticleer | The sizzling allegations of unconscionable conduct made by the competition regulator against supermarket chain Coles are starting to look like a damp squib.
Technology
NBN Co delays fibre-to-the-basement service
NBN Co has delayed the launch of its fibre-to-the-basement internet service by up to five months. In the meantime it will continue to connect premises using the fibre-to-the-premise technology favoured by Labor.
- Russian hackers attacking oil and gas companies
- Ex-Goldman exec Noto joins Twitter as CFO
- Superpartners pulls the plug on botched IT project
- Apple under pressure to deliver phablet as Android pulls away
- Alibaba struggles to make money from smartphones
- Microsoft battles cyber attacks from Kuwait
- Proposed ASIO spying laws threaten bystander privacy
- Broader scrutiny of NBN closer to reality
- TPG Telecom dragged chain in supply of information: ACCC
Nokia reveals Lumia 930, its best ever Windows phone
The former Finnish phonemaker has announced its first flagship phone since being acquired by Microsoft, and by the looks of it it’s the best Windows phone yet
Markets
$A tops US95¢, Rio lifts on BAML ‘buy’
Before the Bell | The Australian dollar touches US95¢ for first time in 8 months ■ Shares of Rio Tinto rose 3pc in London, helped by an analyst upgrade ■ Dow up 0.8pc ■ SPI futures up 20 pts.
- Aussie touches 8-month high against greenback
- Zinc retreats, tin bounces and copper stocks rise
- Dow, S&P; 500 rise to records on latest data
- US factory activity steady in June, orders rise
- Alibaba’s pending IPO prompts NYSE software test
- Scentre Group in talks to offload stake in NZ portfolio
- Australand, Frasers enter takeover agreement
- Gold eases, platinum rallies to 10-month high
- European shares advance as Rio Tinto, BNP gain
Technology companies change shape of small caps sector
Resources companies may have dragged down Australia’s small caps in the past financial year, but a growing band of technology companies is changing the shape of the sector.
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
House price growth set to taper
House price growth broke the double-digit barrier at the end of the financial year at just over 10 per cent, bolstered by strong results for Sydney and Melbourne.
Review: Samsung’s 4K computer monitor
The Samsung 4K computer monitor offers four times the resolution of your standard monitor, but lacks ergonomic adjustability.
Turnbull's unplugged digs at tax concessions
Communications Minister Malcolm Turnbull has riffed on a range of topics with Financial Review editor-in-chief Michael Stutchbury.
CBA could help lift 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.
