Murray puts huge bank profits on notice
David Murray has challenged the big four banks’ dependence on housing, suggesting that they need to hold more capital against mortgage lending in order to reduce the risks to the stability of Australia’s financial system. He warned that the systemic risk created by banks’ focus on selling highly profitable mortgages may have been exacerbated by tax breaks such as negative gearing.
Uncertainty takes toll on CFO confidence
Almost two-thirds of chief financial officers say the budget will hurt the economy but most would swap the present uncertainty over how much will pass the Senate for the short-term pain of the cuts it would introduce.
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.
Private equity firms face fee debate
The revival of the private equity fee debate by the financial system inquiry chimes with a far more vicious outburst of dissent in the United States.
NRMA changes lanes with shift into lifestyle market
More reliable cars are forcing NSW’s National Roads & Motorists’ Association to rethink its business model, shifting away from roadside assistance and into car and home repair services to keep members.
How Telstra and NBN Co got into a $200m fight
They should’ve been the twilight hours before the $11 billion deal between NBN Co and Telstra was signed – but almost 11 months after the initial heads of agreement had been signed, the penny dropped.
Last-minute push for Qantas changes
The federal government is using the last week of Parliament to mount a push to pass key legislation, including a partial easing of the foreign ownership restrictions on Qantas.
Greens, Labor visa vote could halt offshore rigs
The $200 billion offshore oil and gas industry will brought “to its knees” if the senate votes in favour of striking out regulations relating to the use of foreign workers, the federal government warned.
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.
Shareholder support for DJs sale boosts Woolies shares
Shares in South Africa’s Woolworths have soared after the retailer secured strong support from David Jones shareholders for its $2.2 billion acquisition, which promises to transform the group.
What Generation Y wants most at work
Australian graduates prize a friendly workplace culture over pay, but they are still expecting big bucks, according a new survey.
Low risk options far from perfect
Seven years after AXA made a big splash with North, the industry that builds capital guaranteed products continues to evolve but has thus far failed to gain much traction.
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.
Private equity firms face fee debate
The revival of the private equity fee debate by the financial system inquiry chimes with a far more vicious outburst of dissent in the United States.
Asia chocolate binge compounds cocoa shortage
Surging consumption of chocolate in Asia is pushing cocoa-bean prices to the highest level in three years as buyers expand search for supply.
Grounds packs a lot into his European vacation
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Rear Window | More on the northern summer from my dreary cubicle in Pyrmont. Grumble, grumble, grumble . . .
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.
National
Super fees too high, advice poor
David Murray has launched a stinging attack on the country’s massive wealth management industry, criticising the high level of fees and the poor quality of financial advice.
- SMEs back push for more credit
- Regulators’ independence threatened by political powers
- Last-minute push for Qantas changes
- Greens, Labor visa vote could halt offshore rigs
- RBA sticks to stable rates outlook
- Post-boom fall in labour demand hits WA wages
- Threat to tight asset sale timetable in NSW
- Seeney defends ongoing relationship with Clive Palmer after ‘corrupt’ approach
- US, Australian protectionism hurting global trade, says BHP boss
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
I’m sorry email, you’ve been deleted
Here’s a confession: I delete most of my emails without reading them. And you know what? I don’t feel guilty about it.
Murray’s review to test politicians
Australia’s financial system is in need of major changes to avoid suffering a serious loss of public support.
Our financial fitness matters
Editorial | “Too big to fail” has become the catchphrase of a generation. It is the cousin of “moral hazard”.
World
WTO rejects US duties on Chinese goods
World Trade Organisation judges said on Monday the US broke its rules in imposing hefty duties on Chinese steel products, solar panels and a range of other goods that Washington argues enjoyed government subsidies.
- Citi profit falls, hurt by $7 billion legal settlement
- 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
Espírito Santo family saga is unlikely to end happily
The continuing saga at Portugal’s Banco Espírito Santo is a reminder that banks in the euro zone periphery are still fragile.
Business
David Murray puts banks’ huge profits on notice
David Murray has challenged the big four banks’ dependence on housing, suggesting that they need to hold more capital against mortgage lending in order to reduce the risks to the stability of Australia’s financial system.
- Comparison sites key to saving customers’ cash
- Post-budget uncertainty takes toll on CFO confidence
- How Telstra and NBN Co got into a $200m fight
- Telstra flags profit sharing with Asian operators
- Shareholder support for DJs sale boosts Woolies shares
- Analysts put pressure on Woolworths to write down value of Masters
- Advertising will rebound says Foxtel
- PanAust in takeover talks with several parties
Why the outcome of the B20 matters to everyone
Mike Smith | About 400 business people from around the globe will converge on Sydney on Wednesday for the opening of the Business 20 with one goal in mind: to improve economic growth.
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
- Stock diversity a prospect for open-minded investors
- Asia chocolate binge compounds world cocoa shortage
- Pengana names top newly listed companies
- RBA message shifts slightly but cash rate doesn’t
- Platinum Asset Management’s Kerr Neilson goes for gains in China, India
- Dividends add up over the long term
- Supply concerns drive zinc to three-year high
- Financial system faces global, technological risks
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.
