UGL paid HK chief millions in secret fees
Corporate services group UGL agreed to pay Hong Kong’s embattled chief executive, CY Leung, millions in secret fees in return for his support for its Asian property business, DTZ. The arrangement is outlined in a secret contract dated December 2, 2011, before Mr Leung was elected chief executive. In the contract UGL agreed to pay the Beijing-backed politician £4 million pounds.
Cloud computing first for federal government
The federal government will follow the US and British governments in mandating that departments use cloud computing wherever possible in order to improve the efficiency and cut costs.
ABS admits job data was wrong
The Australian Bureau of Statistics has conceded that one of its key surveys – the monthly jobs numbers – can no longer be trusted, as it promised a review of its methodology.
Global growth fears push down ASX
Fears about slowing global economic growth dragged the Australian sharemarket lower on Wednesday, but the losses were trimmed by a partial recovery in the big banks.
Index funds beat active managers hands-down
Close to 75 per cent of actively managed investment funds focused on the top 200 stocks underperformed cheaper “passive investment” index funds over the past five years, according to S&P Dow Jones.
Rental growth stalls as investors buy up big
Asking rents have stalled in the capital cities after a spike in investment property purchases pushed up supplies in the rental market – good news for tenants, but a worry for landlords.
Virgin outside Etihad’s new airline alliance
Etihad Airways has unveiled plans to form its own airline alliance with its partner airlines to improve network, service and frequent flyer points for a more consistent experience, but not Virgin Australia.
$A bounces as greenback rally takes a breather
The Australian dollar benefited from US dollar profit taking, rebounding above US88¢ in early trade before gradually declining in value for the remainder of Wednesday.
The companies most exposed to ailing $A
Kathmandu, Graincorp and Leighton Holdings are among the companies most likely to be adversely affected by the falling Australian dollar, according to research conducted by Credit Suisse.
Bonds’ rally shows few signs of ending
Bonds are still proving to be one of the best performing asset classes of the year.
Property IPOs far from a sure thing
Robert Harley | The stellar debut of Regis Healthcare will no doubt encourage investors.
Scandinavia is way ahead in dads’ leave
Especially since last year, Australia has good paid leave for fathers, but they aren’t taking it.
CBA, Taylor Collison structure Perpetual LIC
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CBA Equities and Taylor Collison are putting together Perpetual’s $600 million listed investment company, joined by Macquarie, Morgan Stanley and ANZ.
Foodies flood Fat Duck ballot
Diners keen to book at Heston Blumenthal’s Melbourne restaurant have jammed its website.
Chinese cultural mistakes to avoid
China is infinitely more complex a place for doing business than can be imagined.
You need 15 minutes of nothing a day
Fifteen minutes of thinking about nothing can be good for work, relationships and even kids.
Point Piper $40m sale to spur listings
The sale of recruitment queen Julia Ross’s Sydney estate could spur more owners to list.
Cabin fever fear and Ebola flight risk reality
If Ebola ever comes to Australia, it will come by plane and if you sit near an infected person, you are highly unlikely to pick it up.
Elvis lives... in Victoria
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Rear Window | Treasurer Joe Hockey might be all for raising the retirement age, but corporate Australia needn’t worry.
Do you know more about super than your kids?
Interactive quiz | Most young Australians don’t know much about building a nest egg.
New perks for Qantas’s elite members
Qantas is introducing new benefits for its most elite tier of frequent flyer members.
London trumps New York for job seekers
London has trumped New York and Paris as the most desirable city for job seekers to relocate to.
McKinsey offers manicures to Stanford’s females
At Stanford business school, the problem for an employer is how to get MBA students’ attention.
National
ABS admits job data was wrong
The Australian Bureau of Statistics has conceded that one of its key surveys – the monthly jobs numbers – can no longer be trusted, as it promised a review of its methodology.
- NSW Finance Minister Dominic Perrottet owes it all to his mother
- Jacqui Lambie issues ultimatum to unions
- Dividend glut stunts companies’ growth
- Strip power from faceless men: John Faulkner
- RBA holds rates at 2.5pc for 14th month
- Sydney remains a hub for conferences
- Cabinet rejects Warburton advice on renewables
- Cbus leaked more member info to CFMEU
- Napthine vows to create 200,000 jobs
James Packer buys into champion Rabbitohs
James Packer is set to pay about $10 million to become a joint majority owner of NRL premier South Sydney with Hollywood actor Russell Crowe.
Opinion
Just how much riskier are self-managed funds?
A prominent super specialist reckons it is time to set the record straight on self-managed super fund compensation arrangements.
John Fraser and a ‘reformist’ Abbott
John Fraser is very smart and tough, and he is too rich and, at 63, too old to waste his time with a government that is not interested in good economic policy advice.
CEO pay adjusts, but more to be done
Chanticleer | Executive pay should no longer be a contentious issue for shareholders. But it is.
World
Virgin outside Etihad’s new airline alliance
Etihad Airways has unveiled plans to form its own airline alliance with its partner airlines to improve network, service and frequent flyer points for a more consistent experience, but not Virgin Australia.
- UGL paid HK chief millions in secret fees
- Glencore bid for Rio on hold for six months
- IMF shaves growth forecast, warns of complacency
- German industrial output plunges as growth stalls
- Dallas Ebola patient remains in critical condition
- Buffett bets on President Hillary Clinton
- Europe's copper smelters seek 20pc processing fee hike
10 biggest threats to the world economy
Is the IMF right that there is only a 1 per cent chance of a global recession in the next year?
Business
UGL paid HK chief millions in secret fees
Corporate services group UGL agreed to pay Hong Kong’s embattled chief executive CY Leung, millions in secret fees in return for his support for its Asian property business, DTZ.
Glasenberg’s madcap manoeuvre
Ivan Glasenberg’s audacious bid to merge with Rio Tinto is almost as crazy as the moves by Rio and BHP Billiton to destroy billions of dollars of Australia’s mineral wealth by flooding the world market with iron ore.
Technology
Telstra allowed to hurt competition due to NBN: O’Sullivan
SingTel-Optus chairman Paul O’Sullivan has claimed all sides of politics are letting Telstra get away with hurting competition because they need its help to build the national broadband network.
- Facebook knows where you are and will tell advertisers
- Australians demand faster internet speeds: ABS
- Samsung profit slump as Galaxy phones lose ground to iPhone
- Bitcoin price rallies after market manipulation fails
- Westpac takes the hub approach to customer service technology
- Global tech spending to hit $US3.9 trillion this year
- Online players defy retail gloom
- Aconex joins the tech sector’s IPO surge
IBM’s Watson supercomputer signs on Aussie customers
A supercomputer famous for taking down two of US game show ‘Jeopardy’’s top players is graduating into the real world in a global roll out announced today.
Markets
Global growth fears push down ASX
Fears about slowing global economic growth dragged the Australian sharemarket lower on Wednesday, but the losses were trimmed by a partial recovery in the big banks.
- $A bounces as greenback rally takes a breather
- Index funds beat active managers hands-down
- Get ready for a sharemarket crash
- The companies most exposed to ailing $A
- Australia weather worry lifts wheat futures
- Dow sheds 1.6pc on global growth worries
- IMF shaves growth forecast, warns of complacency
- Oil extends slide as demand stalls, inventories rise
- Regis Healthcare float finds favour
Risk is investors lose confidence with central banks
Hiccup or something more sinister? That’s the $64 question doing the rounds on trading desks as global markets grapple with further IMF growth downgrades and disappointing data from Germany.
Personal finance
Scramble for housing gets riskier
Investors are taking advantage of super-low mortgage rates to get a foothold in the current property boom.
- Tech starlets line up for $77 million Bailador fund
- Gold price slump hits ASX miners
- Telstra buyback 70pc oversubscribed
- Sotheby sells record $US1.6m Romanee-Conti wine ‘superlot’
- IFM investors accept $685m write-down on Pacific Hydro
- ‘Cheap as chips’ hybrids now ‘attractive’
- How Tina Tower recovered from the phone call from hell
- Murray impact has bank investors split
- Investors go with PIMCO ‘Bond King’
Are you a victim of anchor bias?
Jacquie Hayes | It’s a minefield out there in investment land right now, even for the filthy rich. Financial markets are unkind.
Lifestyle
Look up in wonder: fresh angles on ceilings
Architects are opening up space with light and texture by being creative with the plane above our heads.
Queenstown: more than just mountains
Glorious new places to eat, sleep and play make Queenstown alluring even to the extreme sport-averse.
Ferragamo’s classic slip-on now made to order
These cute candy-coloured shoes can be customised to suit your taste, and your outfit.
Wearing your travel tech on your sleeve
Look forward to personalised devices, able to predict the things you’ll want or need.
Latest TV
Hands (eyes) on with Samsung's Gear VR
Samsung’s Gear VR is a memorable experience for Galaxy Note 4 owners, though resolution is low.
Banker calls for RBA rate hike
As the RBA readies for macroprudential action to cool housing, bank profitability is under fire.
Australian companies in cyber battle
A surge in global cyber attacks is forcing Australian companies to rethink their defence.
Aged care stocks: a health or property play?
Regis has continued the strong demand for aged care IPOs, but what are the risks?
