We’ll never get a global tax treaty: PwC
PwC global chairman Dennis Nally has punched a hole in Prime Minister Tony Abbott’s G20 tax agenda, saying the US will never sign up to the OECD’s action plan to stop multinational corporations shifting profits to avoid tax. “You’ll never get a global tax treaty in my lifetime,” Mr Nally said.
Shares flat as investors mull Murray report
Early gains on the sharemarket were erased after bank stocks suffered a late morning decline as the interim report from the financial system inquiry spooked bank shareholders.
Big Four banks the Murray inquiry’s big losers
The interim report delivered by financial system inquiry, which is run by a band of former bankers, is schizophrenic in its strengths and weaknesses.
Menora Foods confirms sale process following approaches
Updated | One of Australia’s largest privately owned food marketing and distribution businesses, Menora Foods, has confirmed that it has been put on the sale block following unsolicited third-party approaches.
Pengana names top newly listed companies
The current IPO cycle may be running hot with opportunities but portfolio managers at the Pengana Emerging Companies Fund think only six have been worth buying into.
Oracle ordered to pay $130,000 in sexual harassment case
The Federal Court has increased the damages owed by technology giant Oracle in a sexual harassment case, after the victim appealed about a previous $18,000 award, increasing the payment to $130,000.
Labor offers olive branch on financial advice
Updated | Finance Minister Matthias Cormann has rejected shadow treasurer Chris Bowen’s offer of a compromise on its plans to veto the Coalition’s changes to the Future of Financial Advice laws.
RBA sticks to stable rates outlook
The Reserve Bank of Australia has reiterated that it expects a period of stable interest rates as the government cuts spending and the economy transitions from mining-investment led growth.
Platinum’s Neilson goes for gains in China, India
Billionaire investor and Platinum Asset Management founder Kerr Neilson has added exposure to the Chinese life insurers and skipped out of staid earners, such as Roche and Toyota.
Whitehaven tips metallurgical coal recovery
Whitehaven Coal says metallurgical coal prices will continue to fall this quarter but is betting on a “modest recovery” later this year, as a string of mine closures and delays cuts its competition’s output.
Poor financial advice is hurting super
Jennifer Hewett | So many of the Murray committee’s “observations” about how to fix the superannuation system are the opposite to changes the government seeks.
We have lost our appetite for real reform
Leading economist Saul Eslake said conditions that made the 1980s a “golden age” of economic reform don’t exist now, where politicians and populace refuse big changes.
Wealthy Chinese set course for Australia
Australian permanent residency has emerged as a new status symbol among wealthy Chinese and is driving a business boom for accountants, real estate and investments.
GMP seeks $5m for graphite explorer Triton
Emerging graphite hopeful Triton Minerals is tapping the market for $5 million in an institutional share placement at 50¢ apiece, sources told Street Talk.
Why shops hate Amex, Diners Club
Ever wonder why some outlets are so reluctant to accept American Express and Diners Club?
How to find the best seat on the plane
The power of peer opinion has taken to the skies, and it’s changing the way we travel.
Well-heeled hit by housing shortage
Wealthy home buyers are being forced to rent thanks to a dearth of top-end stock.
Australians bet big on World Cup
Australian punters kept bookmakers busy throughout the World Cup, placing more than $287 million in bets.
Google serves up a sweet Android treat
There’s only one unanswered question about the next version of Google’s Android operating system, known for the moment as Android L.
And the collective noun for superyacht owners is
Rear Window | From his perch on the French Riviera, rag trader Solomon Lew doesn’t appear to be sweating the small stuff - or the big stuff.
Harley-Davidson set to test the electric market
Some are “a bit sceptical” about one of the most talked-about motorcycles around – a Harley-Davidson without the growling engine.
Wineries look south as climate changes
Winemakers are rushing to Tasmania as the country's traditional wine growing regions grow ever hotter and drier.
Air NZ liberates itself from the ordinary
Qantas could heed the lessons of its once weaker Kiwi rival.
The rise of the C-suite super temp
They’ve held CEO positions and command more than $1000 a day. Meet the new breed of temp.
National
Labor offers olive branch on financial advice
Updated | Finance Minister Matthias Cormann has rejected shadow treasurer Chris Bowen’s offer of a compromise on its plans to veto the Coalition’s changes to the Future of Financial Advice laws.
- Financial system faces global, technological risks
- RBA sticks to stable rates outlook
- Clive Palmer makes demands to support FoFA laws
- CFMEU official forced out after complaining about death threat
- Qld agriculture minister to investigate sugar industry ‘angst’
- Labor not giving up on carbon trading
- Global CEOs show mixed interest in B20 summit
- RBA says renters better off if housing cools
- NBN monopoly wrong, says former ACCC chief Graeme Samuel
Black Saturday bushfire case settled for $500m
Updated | SP AusNet, the state of Victoria and the Utility Services Corporation will pay nearly $500 million to the survivors of the Black Saturday bushfire in 2009, the biggest class-action settlement in Australian legal history.
Opinion
House price highs may see rental shift
Should we rent or buy? RBA analysis suggests houses are fairly priced.
What central banks can do with financial bubbles
The world has conducted two controlled experiments on how to fight financial bubbles in the past decade. Both failed.
Bowen asks hard questions about the Palmer melodrama
Laura Tingle | In his desperation to repeal the carbon tax, the Prime Minister was prepared to go back on his pledge for “genuine consultation”.
World
Citi profit falls, hurt by $7 billion legal settlement
Citigroup has reported a 96 per cent drop in quarterly earnings, reflecting a $US7 billion mortgage settlement, as well as declining income in most of its main businesses including stock trading.
- Israel’s security cabinet accepts Egyptian ceasefire proposal for Gaza
- BRICS plan their own World Bank, IMF
- China’s provinces fund own stimulus
- Joko signals wider Indonesia coalition as vote tally continues
- Ex-Goldman director Rajat Gupta conviction upheld
- UK's Hague resigns as Cameron shuffles government
- Sports Direct to open three stores in Australia
- Switzerland threatens energy sector with 40pc tax hike
- Volume of Barclays’ dark pool shrinks after lawsuit
World Cup win ignites German patriotism
In the shadow of the Brandenburg Gate, in a city scarred, then divided and reborn, the final moment of the 2014 World Cup brought a sound once rare in this capital: the collective scream of German pride.
Business
Menora Foods confirms sale process following approaches
Updated | One of Australia’s largest privately owned food marketing and distribution businesses, Menora Foods, has confirmed that it has been put on the sale block following unsolicited third-party approaches.
- Telstra flags profit sharing with Asian operators
- PanAust in takeover talks with several parties
- BHP likely to first sell Nickel West, UBS says
- Whitehaven forecasts coking coal price boost
- Uranex in line for China graphite offtake deal
- Financial system faces global, technological risks
- Qantas not selling Jetstar Asia stake to Lion Air
- OZ Minerals increases copper guidance
Legacy culture contributes to retail downturn, say innovators
The staid attitude of professional buyers is killing bricks and mortar retail in Australia, not online shopping which is often framed as “local enemy No. 1”, say local product innovators.
Technology
Telstra flags profit sharing with Asian operators
Telstra is seeking to launch profit-sharing agreements with major Asian telecommunications providers in exchange for building their 4G mobile networks.
- Intercept Minerals to become tech company with xTV buy
- Australia best country for e-business
- WiseTech reveals plans for local IPO
- Intel, Yahoo kick off tech earnings week
- Google Glass tech lead decamps for Amazon
- Steve Jobs’s tablet vision takes a bite out of Apple
- Sotheby's, ebay team up to offer live auction bidding
- NBN monopoly wrong, says former ACCC chief Graeme Samuel
- Broadband race shifts up a gear
Google serves up a sweet treat with new Android OS
There’s only one unanswered question about the next version of Google’s Android operating system, known for the moment as Android L.
Markets
Shares flat as investors mull Murray report
Early gains on the sharemarket were erased after bank stocks suffered a late morning decline as the interim report from the financial system inquiry spooked bank shareholders.
- Inflation data next big test for $A
- Pengana names top newly listed companies
- Platinum Asset Management’s Kerr Neilson goes for gains in China, India
- Supply concerns drive zinc to three-year high
- Financial system faces global, technological risks
- Volume of Barclays’ dark pool shrinks after lawsuit
- Rising inventories deter investors from betting on copper
- Dow closes higher on optimism on banking sector
TIme to dive back into Nordic currencies
It’s time to get back into Scandinavian currencies, according to strategists from Citigroup to BNP Paribas.
Personal finance
Negotiating the fast-money minefield
Be very, very wary of any fast money investment scheme. It’s the old saying: “If it looks too good to be true, then it probably is.” There are no easy ways to financial security.
- Best policy to keep your children covered
- How we are becoming a free agent nation
- Fund managers spill the beans on returns
- Downsizing made simple: the value of a buyers’ agent
- Low market volatility no reason to rest on your laurels
- What it feels like to have a private plane
- Turmoil spooks euro zone investors
- Beat the IPO market at its own game
- Do the sums on the true cost of private schools
What to do when you can’t pay rent
For as long as DIY super funds have been investing in direct property, the greatest proportion of money has been committed to commercial real estate.
Lifestyle
Dandy to dirt bike: Italian menswear machismo
In two cities, discover three characters: the traditionalist, the peacock and the urban warrior.
How Italian cuisine conquered the world
Chef and restaurateur explores the world’s abiding love affair with the food of his native land.
Palazzina hotel reflects beauty of Venice
Created by French designer Philippe Starck, the PalazzinaG is a modern twist on a classic location.
New Maserati model hits the marque
The chance to buy one of Italy’s most famous sporting marques at a lower-than-ever price will be lure enough for many.
Latest TV
Strong big bank outlook despite Murray inquiry
Any changes from the Murray inquiry would have to be taken to an election, with Australia's banks continuing to deliver strong returns into the future.
Citi's profit drops 96 pct
Citigroup's better-than-anticipated quarterly results came just after the bank announced a $7 billion settlement over a mortgage securities probe tied to the financial crisis.
Women of Influence: Felicity Briody
Sometimes influence is hard to measure, but Felicity Briody can almost see it happening in front of her eyes when she talks to school students about a career in engineering.
Android L: a return to paper
Android L will make for a great upgrade to your notebook PC, glasses, and TV, especially once all the app developers take advantage of the new features.
