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Telstra's $5 billion risk in the Philippines

Analysts have warned Telstra's plan to invest in the Philippines could end up hitting cost overruns and burn through cash.

David Ramli 8:22AM

A new report commissioned by Telstra investors warns the telco's plan for a mobile network in the archipelago could become an expensive mistake, burning through substantial amounts of cash.

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AFR. ASX AFR PIC BY NIC WALKER... GENERIC ASX, stockmarket, sharemarket, dive, loss, fall, mortgage crisis, investment, sub-prime loan, interest rates, risk. AFR FIRST USE ONLY PLEASE!!! . Pic by Nic Walker. Date 21ST November 2008. SPECIAL 00096260 SPECIAL 00096260

Markets Live: The final countdown

Patrick Commins and Jens Meyer 8:20AM Live

Shares look set for a pre-Fed rally after Wall St bounces.

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Square, dink, dinks, dinkus, head shot, business, Malcolm Maiden,

You can bank on it: forecasts are wrong

Malcolm Maiden 7:49AM

The budget forecasts were wrong, Qantas analysts were wrong, but who is surprised?

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Glenn Stevens,governor of the Reserve Bank of Australia, sat down with the Australian Financial Review for his annual interview.

Slowing property boom 'good thing'

Mathew Dunckley 3:00AM

The easing of property markets is welcome and essential says RBA governor Glenn Stevens.

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Walsh reiterated his prediction that there are few companies that can withstand iron ore prices at $US30.

Rio's rivals 'hanging on by fingernails'

Jesse Riseborough and Jonathan Ferro 4:14AM

The iron ore collapse has pushed producers to the brink of survival, according to the head of the world's second-biggest mining company.

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Tara Lloyd feeds her 8-month-old daughter Gracie Perkin a2 Platinum infant formula.

Could half our baby formula go overseas?

Mark Hawthorne, Jared Lynch 7:37PM

The massive growth in the baby formlua industry has not been matched with the number of babies, so where does it all go?

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Australia will be the second country after the US to see the reboot of Google Wallet in the form of Android Pay.

Banks opt for Android over Apple Pay

Shaun Drummond 8:20AM

Australian banks have snubbed Apple in favour of Google as several said they will go with Android Pay in the first half of 2016.

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Business MYEFO mauls medical companies
Retail Domino's pays $68m for Joey's Pizza in Germany
Business Directors' lobby may back female quotas
The Economy Why does Australia still have tariffs?
Business ANZ's climate risk under scrutiny

Market Indices

Last updated: December 16, 2015 - 8:15AM

Currencies

United States Dollar
Last updated: Dec 16, 2015 - 8:03AM (delayed by 30 minutes)
0.7191	-0.01%
Euro
0.6577	-0.11%
British Pound
0.4782	0.00%

Comment & Analysis

Malcolm Maiden

You can bank on it: forecasts are always wrong
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Michael Pascoe

Treasury calls it: housing boom over
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Colin Kruger, CBD

Mortgage guru hosts World Cup for the debt-free
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Woolworths rewards members will soon be able to convert $10 of Woolworths Dollars into 870 Qantas frequent flyer points.

Why Woolworths' loyalty scheme has come up short

Sue Mitchell 6:30PM

At first glance, Woolworths' new alliance with Qantas looks more generous but the points don't flow like they used to..

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In Depth

Why Qantas is suddenly killing it

Flying high, in the sky ... global airlines including Qantas will be boosted by lower costs for jet fuel.

John McDuling 12:49PM

It's amazing what cheap fuel can do for an airline.

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Yuan index: What you need to know

11:55AM

China is seeking to refocus the market's attention away from the yuan's moves versus the $US and onto its performance against a wider selection of peers.

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NBN complaints still on the rise: TIO

NBN says the Coalition's fibre-to-the-node technology won't need in-home installation, which will be more convenient.

David Ramli 7:01PM

Complaints about the national broadband network are continuing to rise.

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Workplace

BHP chief wants more female scientists

Andrew Mackenzie

Gaining greater diversity is part of challenging innovation from every angle.

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APS spends $10b on consultants

New figures reveal procurement spending by the Australian Public Service has soared.

More than $10b spent on "management and business professionals" as thousands of public servants shown the door.

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Markets

Investment experts warn of high-yield contagion

Mark Mulligan 8:22AM

Sinking prices in high-yield corporate credits aren't really the problem, but equities and other asset classes are now vulnerable to the repercussions of the slump in oil prices.

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need2know: ASX to open sharply higher

The S&P 500 and the Dow were on track in late trading for their best two-day run since mid-October.

7:54AM

Local shares are poised to open higher, though the $A has lost some ground ahead of a widely expected US rate increase.

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September's ghost haunts US policy makers

Pulling the football away yet again would send a perverse signal that the tail is wagging the dog.

Luke Kawa 7:44AM

As policy members of the US central bank meet in the nation's capital, some might be having an eerie sense of déjà vu.

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Palladium, platinum up on Europe demand
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S&P; 500 rallies with oil as Fed meets
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What matters in the FOMC statement
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Opinion Will Third Avenue pop the post-crisis asset bubble?
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Greenback gains as Fed rate decision nears
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Copper drops as commodity rout seen deepening
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Low US rates could stick around
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The $US1.1trn elephant in the Fed's room
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Triguboff sticks with property as stocks are 'terrible'

Search Quotes & Charts

The Economy

Low US rates could stick around

Investors have often talked about the global economy since the crisis as reflecting a "new normal" of slow growth and low inflation. But, just maybe, we've really returned to the old normal.

Neil Irwin 7:40PM

A 200-year history of interest rates shows the real aberration looks like the 7.3 per cent average experienced in the United States from 1970 to 2007.

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Australia should be 'alert to risk of recession'

Mark Mulligan 7:00PM

Global bond fund manager Pimco forecasts another year of sluggish growth .

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RBA says it still has scope to cut
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Michael Pascoe Real innovation doesn't need the IT crowd
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BHP chief wants more female scientists
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Retail

What online shoppers really want for Christmas

Shoppers say they want after-hours delivery for their online purchases.

Patrick Hatch 4:46AM

What online shoppers really want for Christmas is after-hours delivery and easy product returns, according to a survey that also puts the boot into the idea parcels being sent using flying drones.

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Woolworths brings back Qantas points

Woolworths is scrapping Qantas frequent flyer points in favour of cash back on grocery and liquor bills.

Jamie Freed 8:42PM

Qantas and Woolworths have formally unveiled their new loyalty partnership, which gives supermarket shoppers the option to convert Woolworths Dollars into Qantas points.

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Banking & Finance

Low US rates could stick around

Neil Irwin 7:40PM

A 200-year history of interest rates shows the real aberration looks like the 7.3 per cent average experienced in the United States from 1970 to 2007.

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Zurich pulls out of NSW compulsory third party insurance market

Zurich Australian Insurance will stop writing new CTP green slip policies in NSW from March next year.

Ruth Liew 3:49PM

Zurich Australian Insurance has pulled out of writing compulsory third-party green slip insurance in NSW, signalling the latest change to its local business following major cost-cutting measures at its parent company.

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Citi first to cut loyalty program benefits
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NAB's Clydesdale Bank to list in February
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New bank branch looks like your house
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Fintechs tap homespun funds
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EXCLUSIVE ATO's business hit list revealed
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Mining & Resources

BHP weighs US oil cuts, write-downs

Gas prices in the US have slumped putting further pressure on BHP's already emasculated shale division.

Amanda Saunders 6:10AM

BHP Billiton is expected to again cut capital spending for its US oil and gas business and is considering shutting down more rigs and further write-downs to the onshore division.

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Copper drops as commodity rout seen deepening

The Bloomberg Industrial Metals Subindex is trading near the lowest since 2004.

Andre Janse van Vuuren and Luzi Ann Javier 4:50AM

Copper futures dropped the most in five weeks on concern the metals rout may deepen on slowing demand in China, the world's biggest user.

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World Business

Uber and Lyft Drivers to form unions

Uber drivers in Seattle will be allowed to form unions.

NICK WINGFIELD and MIKE ISAAC 11:55AM

Seattle's city council voted unanimously Monday to approve a bill allowing drivers for Uber, its rival Lyft and other ride-hailing apps to form unions.

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Murdoch company linked to FIFA scandal

Growth at the group's cable network programming division was more than offset by lower contributions from its television and filmed entertainment segments.

Mica Rosenberg and David Ingram

Marketing company tied to 21st Century Fox 'bribed' officials, claim prosecutors.

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The ultra-wealthy's biggest losers
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World on cusp of historic climate deal
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News UK dodges phone-hacking charges
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VW's emissions cheating not a one-time error
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Gold price drop could spur Indian jewellers
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China

Alibaba buys South China Morning Post

Philip Wen

Chinese e-commerce giant Alibaba Group has acquired the South China Morning Post, a move which simultaneously signals its intention to expand its media influence beyond mainland China while sparking fears around editorial independence at the venerable Hong Kong newspaper.

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Fosun's Guo Guangchang goes missing

Mr Guo is one of China's most recognisable investors at home and overseas with a fortune of $US7.8 billion.

Philip Wen

The high-profile billionaire chairman of China's biggest private conglomerate, Fosun Group, has gone missing amid speculation he has been caught up in a deepening corruption probe targeting the country's financial industry.

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China exports fall for fifth month
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Chinese demand for Aussie homes down 15% - McGrath
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China's fortunes to weigh more on $A
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Solar chief hits out at China over coal at Paris launch of global solar pact
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A page from Mao's little red book
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What keeps Blackmores' boss awake at night
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Featured advertisers

Property Focus

Triguboff sticks with property

7:13PM

Harry Triguboff sees property as among the few attractive investments in the nation amid rising rents and a "terrible" stock market.

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City Tattersalls votes for $200m redevelopment

New impression of the City Tattersalls Club, to be developed in Sydney CBD into hotel and apartments.

Carolyn Cummins

Members of the City Tattersalls Club have voted overwhelmingly to approve development of the Pitt Street building's airspace.

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Scentre strikes $2.85m deal with Booodl start up

Apps such as Boodl are increasingly aiding customers find perfect Christmas gifts.

Carolyn Cummins

Shopping is not everyone's most enjoyable way to spend a day, particularly wandering around a mall trying to locate the stores selling the items on your list.

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