Hockey’s hard line: Abbott squibbed with ‘soft’ budget
Treasurer Joe Hockey believes the May federal budget, which triggered a backlash against the government, was not tough enough and he held Prime Minister Tony Abbott responsible for taking a more cautious approach to appease voters. The revelation suggests Mr Hockey wanted earlier reductions in the pension growth rate for the deficit tax to hit a greater number of well-off voters.
Global equities rebound as risks ease
Before the Bell | Global equity markets and the US dollar are higher amid a rebound in risk appetite, lifting the S&P 500 to a record high ■ Dow up 0.4pc ■ SPI futures up 23 pts ■ $A at US93.86.
What happens to apartments when Asian capital dries up?
Move over mining boom. Simeon Goldenberg, finance director of Icon Group, frets more about what will replace the wave of Asian capital chasing apartments in Melbourne and Sydney.
Moelis predicts return to traditional banking
Ken Moelis, the founder of leading independent investment bank Moelis & Co, has predicted that his big integrated rivals in the United States will shrink back to providing traditional, low risk banking.
Woodside buy-back in danger of being voted down
Investor resistance to Woodside Petroleum’s management of Royal Dutch Shell’s long-awaited exit from its register has been building.
Identifying MH17 passengers could take months
Dutch Prime Minister Mark Rutte has warned it could take weeks, if not months, to identify the remains of the passengers recovered from the crash site of Malaysia Airlines Flight MH17.
Fund managers brace for money market shake-up
Fund managers are jostling to keep hold of $900 billion of assets that could be shaken loose by new United States rules on money market funds set to be unveiled this week.
Fair Work Ombudsman blasts award complexity
Awards guaranteeing standards for millions of workers are indecipherable for many small businesses and are not even consistent with other legally mandated minimum work conditions, says Natalie James.
Banks hit back at APRA’s ‘prescriptive’ proposals
Big banks are resisting the Australian Prudential Regulation Authority’s move to introduce detailed new mortgage lending guidelines, saying the regulator’s proposals are too prescriptive.
Taking the sting out of childcare
A focus on parental leave over tackling the high cost of childcare is hurting working women.
Beware the unscrupulous bond seller
Cliff Asness reserves a place in hell between gluttony and greed for advisers who say this.
Standout stocks in a low-growth world
Strategists are placing a premium on companies with a strong track record of acquiring and integrating businesses.
TPG, Carlyle tipped to keep fat Healthscope stake
Private equity giants TPG and The Carlyle Group will likely hold a stake of between 32 per cent and 40 per cent of hospital operator Healthscope.
Where next for Richard Goyder?
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Rear Window | How long until Wesfarmers chief executive (and global business doyen) Richard Goyder bolts for the exit sign?
Apple places orders for large screen iPhone 6
Apple has asked suppliers to manufacture between 70 million and 80 million of its two forthcoming large-screen iPhones by the end of the year.
Qantas rolls out interactive screens in lounges
Interactive screens are headed for Qantas domestic business lounges as the airline improves passenger entertainment.
Earn less but get richer
Does the risk of launching your own business pay off by making you wealthier in the end?
Thai restaurant to be first of many
Thailand’s fifth-largest company by revenue partners with husband-and-wife team to build up network of 100 fast-food stores across Australia.
Gyng laces up for AFL weekend bonanza
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Rear Window | The next deal to broadcast AFL from 2017 and beyond just got much more interesting.
Accidental click shoppers flush with opinion
Recently I went online to buy my groceries and order toilet paper when, instead of clicking “add to basket”, I clicked “reviews” by mistake.
Alex Waislitz gets on his bike for charity
Billionaire investor Alex Waislitz has caught the cycling bug. It’s a trait he shares with many of his business and investment colleagues, with the sport in the midst of a boom among the corporate set.
How to upgrade your stereo with Google
Peter Moon | Lots of ageing stereos are surviving in the wild – but your 1990s gear can be the life of an iTunes-era party.
Kids know ‘cute’ from age 3
Children as young as three recognise "cute" features that encourage care-giving in adults, a study has found.
National
Joe Hockey says tough budget was actually too soft
Treasurer Joe Hockey believes the May federal budget, which triggered a backlash against the government, was not tough enough and he held Prime Minister Tony Abbott responsible.
- Building boom likely to hit the buffers
- Business leaders tell Senate to pass reforms
- Fair Work Ombudsman blasts award complexity
- Labor calls for accounting to be taken off Skilled Occupation List
- Major FTA push as Robb floats super access deal
- Don’t split up the Tax Office, pleads commissioner Chris Jordan
- Top businesswomen back subsidised childcare over PPL
- Hunt hints at global carbon permits
- Security Council seat paves way for kudos
What corporate leaders can learn from the NSW Blues
The very same cultural change process that helped NSW win the State of Origin this year apply in the office, says leadership coach Garie Dooley. It is all about ensuring everyone is accountable and gives honest feedback.
Opinion
Time to enter the scary world of innovation
Australia will have to move from just copying others to more indigenous innovation. For guidance let us look to Nobel economist Edmund Phelps.
Change is coming and we need to prepare
GE Mining boss Steve Sargent likes to urge everyone to step back and realise just how much change they are experiencing.
Feminomics stalls under Japan’s Abenomics
William Pesek | Those who think Japan is suddenly in the throes of a feminist revolution should take a look at a new survey on gender in the world’s third-biggest economy.
World
Identifying MH17 passengers could take months
Dutch Prime Minister Mark Rutte has warned it could take weeks, if not months, to identify the remains of the passengers recovered from the crash site of Malaysia Airlines Flight MH17.
- US, European airlines suspend flights to Israel
- Off-mic Kerry concerned about civilian deaths
- Indonesia count disrupted by Prabowo exit
- Texas Governor bolsters border and his profile
- Time Warner moves to thwart Fox bid by changing bylaws
- Saudi Arabia to open up its $US531b sharemarket to foreigners
- Russia's Severstal sells two US steel plants for $2.3b
- China growth upgrades emerge; ANZ sees dip to 7pc in 2015
- US senator says Barclays, Deutsche helped funds avoid taxes
How Julie Bishop got Russia’s backing
John Kehoe | When Julie Bishop came face to face with Russian Ambassador Vitaly Churkin, she was told Moscow had finally dropped its resistance to her UN Security Council resolution on the MH17 ‘downing’.
Business
Moelis predicts return to traditional banking
Ken Moelis, the founder of leading independent investment bank Moelis & Co, has predicted that his big integrated rivals in the United States will shrink back to providing traditional, low risk banking.
- Banks hit back at APRA’s ‘prescriptive’ proposals
- BHP’s Mike Henry says lower-grade iron ore discounts will stay
- Qantas boosts passenger entertainment with interactive screens in lounges
- DJs’ Cairns warns Woolies to watch out for Lew’s next move
- Oil Search not yet ready to pay gas dividend
- Newcrest to defend class action over disclosure breaches
- Transit Systems eyes lucrative Singapore bus contracts
- Boutique fund Kosmos suspends operations, hands back money
Bulk-billed IVF treatments won’t lead to price cuts, analysts say
A new cut-price service from Primary Health Care offering bulk-billed in vitro fertilisation is unlikely to push down prices across the $500 million industry in the short term, analysts have said.
Technology
Apple places orders for large screen iPhone 6
Apple has asked suppliers to manufacture between 70 million and 80 million of its two forthcoming large-screen iPhones by the end of the year.
- Italy puts Google on notice over privacy
- NBN panel falls short of deadline
- Payments battle heats up with Stripe launch
- Netflix’s quarterly profit more than doubles
- Tech industry hits out at sluggish share scheme reform
- 8common in ASX float, targets Asia
- Optus gets a 4G boost in Perth, Darwin
- Design disrupter Canva pockets $3.6m
This is what happens when you think outside the box
John Davidson | This review was never supposed to happen. The device it’s about was going to go straight back into its box the moment we opened it up.
Markets
Global equities rebound as risks ease
Before the Bell | Global equity markets and the US dollar are higher amid a rebound in risk appetite, lifting the S&P 500 to a record high ■ Dow up 0.4pc ■ SPI futures up 23 pts ■ $A at US93.86.
- London zinc, aluminium advance as inventories drop
- Credit Suisse working with regulators on dark pools
- European shares rebound on ARM, Actelion
- Woodside buy-back in danger of being voted down
- Fund managers brace for money market shake-up
- ‘Interesting’ floats put AMCIL in a spending mood
- RBA’s Glenn Stevens eyes recovery as risk returns
- Buyout firm Apollo in bidding fray for BHP’s Nickel West
- David Jones chair Gordon Cairns calls for transparency in derivatives trading laws
The future of mega-cap stocks
Buying and holding the top 20 stocks has been a successful strategy, with returns from the ASX 20 eclipsing the benchmark ASX 200 in the past one, three and five years.
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
- Beat the IPO market at its own game
- Low market volatility no reason to rest on your laurels
- Do the sums on the true cost of private schools
- What it feels like to have a private plane
Stretched housing valuations mean bubble is here
In April 2008, RBA governor Glenn Stevens was asked by Malcolm Turnbull why housing affordability was so bad. His answer? Prices – not interest rates – were to blame.
Lifestyle
Backstage pass to Paris haute couture week
In the city of love, we revel in the opulent wonderland created by the big heritage fashion houses.
Glenmorangie and Idris Khan: two creative spirits
The Scottish whisky distillery has launched Pride 1978, which comes with a photographic work by the famous British artist.
Homes inspired by other times and places
Residential architects take elements of ancient Japan and high Modernism to create impressive new houses.
When switching off is a bad thing
In a 24/7 world, answering the occasional email on the weekend will help banish those Monday blues.
Latest TV
B20: innovate and dump mining tax
The chiefs of Telstra, BHP, ANZ and GE Mining have urged reform including innovation, regulation and taxation.
How genuinely innovative is Australia?
The government may be proud of Australia's latest global innovation ranking, but a closer look tells an unhappier story.
MH17: UN condemns plane's downing
The UN Security Council condemns the downing of MH17 but Russia says Kiev is exploiting the disaster.
Housing boosts Australand to bumper result
Australand is bullish on residential property after posting a 49% profit lift
