Chinese billionaire swoops on Hoyts
Updated | Pacific Equity Partners has offloaded cinema chain Hoyts to an investment company founded by Chinese billionaire Sun Xishuang, ending months of speculation. British Virgin Islands-based investment fund, ID Leisure Ventures, has acquired the chain, which was believed to be worth as much as $900 million on an enterprise value basis.
Terror attack is ‘likely’
There has been a heightened level of “terrorist chatter” in the aftermath of the Sydney siege, Prime Minister Tony Abbott says.
NSW Labor leader resigns over Haron Monis letter
NSW Labor leader John Robertson has resigned just three months out from the state election, falling on his sword over a letter he sent on behalf of Martin Place gunman Man Haron Monis.
Santa rally snaps as ASX dives
A short-lived “Santa rally” that added 5.5 per cent to the market, or $83 billion in value, over the previous four sessions came to a halt on Tuesday as BHP Billiton led the bourse 1.1 per cent lower.
Home dream fades fast for first-time buyers
In Sydney, it would take a young couple buying their first home, almost seven years to save the $165,100 necessary for a 20 per cent deposit on a median-priced home.
Atlas Iron to take up to $900m of write-downs
The slump in iron ore prices has hit Atlas Iron with the company set to take up to $900 million worth of write-downs in the first half of the 2015 financial year.
MissChu goes into voluntary administration
Updated | Popular Vietnamese tuckshop business, MissChu, has gone into voluntary administration and will retrench at least a third of its staff in Sydney.
BIS calls for banking ‘capital floor’
The global banking regulator is echoing the Murray inquiry’s recommendation to set a limit on the amount banks can leverage their loan books.
Iron ore at fresh low on China weakness
Iron ore is down to $US67.90 a tonne, the lowest level since 2009 as supply exceeds demand and China, the biggest user, contends with its weakest expansion in almost a quarter century.
Is Australia about to hit petrol parity?
As petrol prices have rapidly fallen, a question no one thought we would be asking in June is whether fuel will reach $1 per litre. The answer may be yes.
Suave to sacked: Fashion in 2014
From the arrival of Mrs George Clooney to the departure of American Apparel’s Dov Charney, fashion had a year to remember – and forget.
Is this the end for China’s ‘weird architecture’?
Called unbuildable elsewhere by critics, China’s famous ‘weird architecture’ is under threat.
Aceh still seeking safety
Ten years on from the Asian tsunami, warning systems across the region remain troubled.
‘Start-ups should give back too’
From BRW: Atlassian’s Scott Farquhar wants local start-ups to join the Pledge 1% program.
Google’s self-driving car hits the track
Google's self-driving car is ready to be road tested with the tech giant’s car team saying they’ll be ‘zipping around our test track’ these holidays.
How the grey lobby shortchanges the future
Edward Luce | Rarely has such gloom covered most of the western world at the same time.
Legendary singer Joe Cocker dead at 70
Joe Cocker, the British singer of blues and rock behind hits such as "You Are So Beautiful," has died at age 70.
Alibaba millionaires stoke China start-up boom
China is emerging as a legitimate contender to Silicon Valley as the centre of the technology industry, fuelled by Alibaba IPO wealth.
Mum’s lessons helped me save
Michelle Fluck knew she’d done well teaching daughter Anousha to save when the 24-year old said she’d put away $4000 in just five months.
The inside story of the Airbus A350
Airbus’s latest contender highlights a chess game still being played out with arch rival Boeing.
Gifts matter even for the person with everything
No matter how well off you are, gift giving is still important.
The oligarch who would run Russia
After 10 years in prison, the oligarch who crossed Putin is poised for a fresh foray into politics. He tells Neil Buckley why the Kremlin’s current master cannot keep power forever.
Where China’s elite learn a global view
Not all students take immediately to the afternoon skiing lessons at Switzerland's oldest boarding school.
National
Economy ‘front and centre’ for new cabinet
A larger-than-expected ministerial reshuffle over the weekend was not an admission that the government had been doing anything wrong, according to Prime Minister Tony Abbott.
- Department of Industry slashes iron ore prediction to $63 a tonne
- CFMEU interests ‘infected’ Cbus superannuation fund staff
- Sydney siege sparks US government travel alert
- Demand for more space grows but cities still long way from dense
- Dog days are beginning for Australia’s economy
- Cairns mother charged over children’s deaths
- What happens when you offer the taxman a discount for cash?
- We’re well behind the world’s new climate debate
- What the ABC accepts and what it won’t
Parliamentarians are humans too
Joanna Heath | You can often tell a lot about how a government is going by the mood in Yarralumla when tradition dictates new ministers be sworn in after inevitable cabinet reshuffles.
Opinion
Where global warming’s missing heat went
Ka-Kit Tung | Nobody knows how long the pause in surface temperature warming will last. But the cycle will shift and we can expect the increase to resume the rapid pace observed during the late twentieth century.
Big banks need to embrace digital era
Jonathan Ford | Ask many bankers what they think is the biggest threat to their business and they’ll say regulation. But the smart ones are worrying about disruption, too.
‘Think’ time at work is brainless
Lucy Kellaway | If everyone signed up to my ambitious 90 per cent thinking goal, office life would become better.
World
IMF sees silver lining in oil’s slide
The recent drop in oil prices should persist, helping to boost global economic activity by up to 0.7 percentage points next year, two senior IMF economists say.
- US existing home sales drop to six-month low
- North Korea’s internet goes dark, attack suspected
- Alstom fined $US772m after US bribery probe
- Rosneft won’t buy Morgan Stanley's oil trading unit
- Russia oil shock to lead to depression
- Saudi Arabia plays tough, refusing to cut oil output
- Jianlin’s Chinese Hollywood delivers local culture
- Euro zone should expect negative inflation
JPMorgan security breach tied to slip-up
The recent computer breach at JPMorgan Chase may have been thwarted if the bank had installed a simple security fix to an overlooked network server, an insider says.
Business
Chinese billionaire swoops on Hoyts
Updated | Pacific Equity Partners has offloaded cinema chain Hoyts to an investment company founded by Chinese billionaire Sun Xishuang, ending months of speculation.
- MissChu goes into voluntary administration
- Telstra pays $857m for Pacnet data centres, network
- IAG lifts NZ earthquake cost forecast
- Beacon Lighting on track for big profit jump
- Meriton Group’s revenue jumps by 50pc
- Billions in planned LNG projects at risk
- Hess reaches accord to process LNG in North West Shelf
Australia’s money transfer halt ‘detrimental’: Pakistan
Pakistan is worried Australian banks shutting down international money transfer accounts here will make it harder to track funds to ensure they don’t end up in the hands of terrorists.
Technology
Christmas trades turkey for tablets as shopping takes over
Many Britons will be turning their backs on their families and festive traditions on Christmas Day, in favour of shopping on their tablets and smartphones.
- YouTube rival Interlude lets listeners call the shots
- Facebook shares hit record on mobile growth
- Sony cyber attack a lesson for every business
- Alibaba millionaires stoke China start-up boom
- Google to test driverless car on the holidays
- Faith in Apple’s future as Woz becomes an Aussie
- Boeing, BlackBerry team up on self-destructing spy phone
Coca-Cola cans voice mail as workers go mobile
Forget about leaving a voice mail at Coca-Cola's Atlanta headquarters. Send a text instead.
Markets
Markets Live: ASX lower as commodities fall
BusinessDay | Shares are lower, taking a break from the past days’ strong rally, with miners and energy stocks leading the way down after commodity prices tanked, while CBA and Telstra are hit by profit taking.
- OPEC won’t cut oil output ‘even at $US20’ a barrel
- Woolies, Computershare among top stock picks for Morningstar
- Iron ore at fresh low on China weakness
- IMF sees silver lining in oil’s slide
- S&P; 500 closes at record on big-cap techs
- China seen extending influence through currency swaps
- Euro rebounds, $US at two-week high v yen
- European stocks rise for fifth consecutive session
- Five-year US bonds ease ahead of fresh supply
How the grey lobby shortchanges the future
Edward Luce | Rarely has such gloom covered most of the western world at the same time.
Personal finance
Investment winners and losers in 2014
This year’s polarities have reminded us how interconnected our investment world has become.
- How DIY super can help you fund your retirement property
- Ten good habits to grow your wealth
- Smart or lazy: index-hugging fund managers bet big on resource stocks
- DIY super funds are not just another status symbol
- Why Pengana, Leah Zell say small caps are ‘for active managers’
- Holiday homes – to rent or own?
- How to invest in low-growth times
How to share wealth and not spoil your kids
There is plenty of reason to be mindful about how generous you are with your kids.
Lifestyle
Suave to sacked: Fashion in 2014
From Mrs George Clooney’s arrival to Dov Charney,’s departure, fashion had a year to remember – and forget.
Gifts matter even for the person with everything
Experiments show the gift people pick for a partner influences how they respond when asked if they’d marry the person.
Walking Los Angeles
Visit LA solo and you’ll find few better ways to unmask the city’s history and imbibe responsibly than to be car-free.
Lessons in speed with the Porsche 911 GT3
It’s hard to relax when taking a $300,000 Porsche to the limit, amid sandtraps and tyre walls.
Latest TV
What stocks to target in 2015?
Telcos are well positioned heading into 2015 as the appetite for data grows internationally.
Abbott's new ministry explained
Scott Morrison is ascending as the winners and losers of Prime Minister Tony Abbott's reshuffle are revealed.
Echo’s new Brisbane casino
Echo Entertainment, Chow Tai Fook and Far East Consortium have unveiled their proposed mega project.
Buying investment property via SMSF
Using your self managed super fund to buy an investment property may seem like a good idea, but tread carefully.
