$20b capital raising staring at big banks
The big banks may be forced to raise around $20 billion in additional capital to meet more stringent standards stipulated by the financial system inquiry’s final report. The report suggested Australia’s big banks will need to lift common equity tier 1 (CET1) capital by 1.4 percentage points to lift them from current levels into the top quartile of capital compared to large global banks.
Global equities rally on German, US data
Before the Bell | Shares have powered higher in Europe and extended their rally on Wall Street after positive Germany factory data and a surge in hiring in the US.
Tony Abbott’s stocks hit Julia Gillard lows
Tony Abbott’s personal standing has plunged to the extent voters rate him as incompetent and untrustworthy as Julia Gillard at her nadir, and strongly back Bill Shorten as prime minister.
Exporters face tough times: BIS
The international body for central banks has provoked concerns that the worst could be yet to come for commodity exporters like Australia because of weaker prices, a surging US dollar and booming property.
Infrastructure heavies set to finalise poles and wires groups
It’s the biggest week of the year for infrastructure and utilities investors, bankers and lawyers. With more than $50 billion of assets pencilled in for 2015, fund managers from across the globe are in Australia this week.
Franchiser waits for response to Pie Face offer
When reports emerged six months ago that the Pie Face franchise was in trouble, Stan Gordon reached out to Pie Face founder Wayne Homschek.
Total blames costs for GLNG gas shortage
The Asia-Pacific head of French oil major Total has blamed Australia’s high-cost environment for the gas shortage plaguing its $US18.5 billion GLNG project with Santos in Queensland.
Auction clearances fall to 18-month low
Clearance rates around the country are in free-fall as near-record numbers of homes go to auction at a time when buyers are feeling less confident.
NSW trust-fund plan secures building subbies’ payments
The NSW State Government will introduce a new cash retention trust scheme to stop subcontractors from being left out of pocket when construction companies collapse.
Bond man had secret weapon as Pirate
Bill Bovingdon describes 2014 as a year where central banks were able to get away with things.
Fin inquiry’s clout depends on uptake
Adele Ferguson | Inquiry’s success or failure depends on government, industry and regulator.
Renzo Piano to make Barangaroo mark
The Italian architect behind Aurora Place will make his second addition to Sydney skyline.
CHAMP expected to tap super funds in new year
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CHAMP Private Equity will be the next big Australian private equity firm to rattle the can for superannuation and sovereign wealth funds.
Financial inquiry could herald widespread change
The financial system inquiry has made recommendations that could fundamentally change the banking, superannuation and insurance sectors.
Financial system inquiry: key recommendations
David Murray’s financial system inquiry has called for the nation’s banks to become “unquestionably strong” to prevent the cost of a financial crisis.
Empty-nesters downsize in style
A new generation of empty-nesters who does not want to feel squeezed in their smaller homes, are seeking custom-made spaces.
Jamie Dimon says ‘no evidence of cancer’
JPMorgan chief Jamie Dimon has announced to his staff that his doctors have found no evidence of cancer in his body, after he concluded treatment.
Don’t get sick in China
When an expat fell sick in Beijing, he began a journey into the miserable world of China’s sick.
Young and outraged in Hong Kong
Predictions pro-democracy protests in Hong Kong would be over in a few days misread the passion of youth.
Success is not a secret
There is plenty of evidence that shows how to make a company perform well says rock-climbing management guru Jim Collins.
Chanticleer’s Chook Roast awards 2014
Pugilism, a poisoned chalice and whacking profits help propel some perpetrators onto our annual plaudits list.
Silicon Valley clears homeless away
Californian council workers have begun dismantling a notorious homeless camp known as “The Jungle” in the heart of affluent Silicon Valley.
Financial Review wins top business Walkley
The Australian Financial Review has taken home the top prize for business journalism at the 2014 Walkley Awards. Read our stories here.
National
Tony Abbott’s stocks hit Julia Gillard lows
Tony Abbott’s personal standing has plunged to the extent voters rate him as incompetent and untrustworthy as Julia Gillard at her nadir, and strongly back Bill Shorten as prime minister.
- NSW trust-fund plan secures building subbies’ payments
- Hilmer’s legacy: the VC as CEO
- Auction clearances fall to 18-month low
- US billionaire publicly backs MRFF funding
- Renzo Piano to make his mark on Barangaroo
- PM calms own paid parental leave critics
- Architect warns NSW: don’t build super-stadiums
- Labor on track to win SA by-election
Mitchell doubles up cattle farm holdings in Kimberley
Media-buying legend Harold Mitchell and his cattle-producing partners have doubled the size of their land holdings by leasing more than half a million hectares from Aboriginal pastoral companies in Western Australia.
Opinion
How the West was Won. Or not. Or maybe.
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Rear Window | Rupert Murdoch’s greatest tabloid editors have been famous for their tinder-dry, self-deprecating wit.
Avoiding the next financial crisis
David Murray’s financial system inquiry report wants banks to raise billions of dollars more capital to insulate them from the next financial shock.
Rules should allow for risk-taking
Kelly O’Dwyer | Risk-taking has built this country, so we should not be afraid of it, and should not try to regulate it away.
World
Oil slump to spark energy merger boom in US
The plunge in the oil price to a five-year low may trigger a new wave of mergers and acquisitions in the United States energy sector.
- Xi asserts power, has Zhou arrested
- Snap election belies Japan’s weak politics
- Vietnam blogger arrests grow
- Hostages in Yemen killed during rescue attempt
- International court drops case against Kenyatta
- Designer penetrates the dark side of Givenchy
- China arrests former security chief
- Jobs surge bolsters case for higher rates
Industries on cusp of revolutionary shake-up
John Kehoe | Business owners and workers beware. Industry as we know it may be on the cusp of a revolutionary shake-up.
Business
Total blames costs for GLNG gas shortage
The Asia-Pacific head of French oil major Total has blamed Australia’s high-cost environment for the gas shortage plaguing its $US18.5 billion GLNG project with Santos in Queensland.
- Westpac backs Facebook over Google in battle for bank digital spend
- Franchiser Stan Gordon waits for response to Pie Face offer
- Aurizon’s Qld rail staff to vote on strike action
- Miners cutting back on exploration, says economist
- Goldminer embroiled in Solomon Islands dam standoff
- Discounting makes aviation a rough ride for insurers
- Estia shares plunge after IPO
- In cyclone-prone north Qld, insures are losing out
Echo competes with Crown for Brisbane casino
Due Diligence | Matt Bekier has steered casino operator Echo Entertainment Group to become one of the turnaround successes of the year.
Technology
CBA invests $5m in UNSW quantum computing centre
Commonwealth Bank of Australia has invested $5 million in a world-leading push by Australian technology researchers to build the first silicon-based quantum computer.
- What to know about Nintendo 3DS and other tech festive gifts
- Aussie Bitcoin firm Coinjar flees GST to set up in UK
- FBI warns of ‘destructive’ malware in wake of Sony attack
- UK peer-to-peer lender targets Australian businesses
- Payments platform builder to be announced
- Government backs push for tech companies to deliver user data
- Old money chases the new, new thing – again
- All eyes on technology in the financial systems inquiry
- NBN pushing ahead with rollout to extra 1.9m premises
Jumping Sumo, and other gifts not to be trifled with
There’s a problem with most phone- and tablet-controlled toys that zoom around your floor teasing your pets.
Markets
Global equities rally on German, US data
Before the Bell | Shares have powered higher in Europe and extended their rally on Wall Street after positive Germany factory data and a surge in hiring in the US.
- Exporters face tough times: BIS
- All eyes on banks, key economic data
- Oil slump to spark energy merger boom in US
- Animoca to list on local bourse
- Paradigm advances drug for sports injuries
- Catapult signals loss ahead of float
- Wall St extends rally into seventh straight week
- It looks like a duck, quacks like a duck, but it’s a secular bear
- How to invest in low-growth times
Japanese election could see flood of fleeing yen
Karen Maley | Shinzo Abe appears poised to enjoy a landslide victory in next Sunday’s parliamentary elections, but voters may be less enthusiastic when it finally dawns on them that wealth confiscation is a key part of his economic strategy.
Personal finance
Holiday homes – to rent or own?
Searching for a holiday house can be almost as fun securing one, especially on the Mornington Peninsula.
High price for falling foul of the ATO over DIY super
There has been an alarming increase in the number of self-managed superannuation fund trustees and directors being declared “disqualified persons” by the Tax Office.
Lifestyle
Mid-air movie magic
Whether you’re watching in-flight movies courtesy of your airline or video on your laptop, aircraft noise is still a major drag.
Hottest tickets for summer sporting action
Gifts for him | Forget socks. A ringside seat this summer of sport is the perfect Christmas present for the man in your life.
10 top thrill-seeking pursuits
Gifts for him | Release his inner action hero with an adventure that takes it to the limit.
Tasmanian whisky: great southern drams
Barely a month goes by without hearing of some new achievement for Tasmania’s malted barley finest.
Latest TV
Sephora arrives in Australia with bang
Shoppers pile into Pitt Street Mall as French cosmetics retailer Sephora touch down in Sydney
Rates drive property speculators
What could be the impact of a February rate cut on property speculators - and SMSF?
How to do business with the Chinese
Do's and Don'ts on how to give out name cards, speaking Mandarin and doing deals at the dinner table.
This summer’s can’t miss sports events
This summer is shaping up to be jam packed with world class sporting events, but can you fit it all in?
