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Gravity shakes Apple to the core

Australians may have missed the opportunity to buy Apple Inc at US dollar parity, but fund managers say it's not too late to look abroad for investment ideas.

Hannah Francis 9:04PM

Have we reached 'peak iPhone', and can Apple invent the 'next big thing' to push on through it?

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Telstra chief executive Andy Penn is set to sign a contract with NBN Co to upgrade its networks by February 2016.

Telstra, NBN close in on massive deal

David Ramli 7:16PM

Telstra and NBN are months away from signing a $1.5 billion-plus deal to help speed up the conversion of Australia's cable TV networks.

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The benchmark ASX200 index was down 0.6 per cent to 5193.7, while the broader All Ordinaries index was down 0.6 per cent to 5245.2.

Santa rally postponed as shares end flat

Stephen Cauchi 4:59PM

Australian shares managed to eke out a small gain on Monday, despite a very weak lead from Wall Street and oil prices collapsing to 11-year lows.

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New rules on how banks must classify deposits have been applied inconsistently, APRA says.

'Room for improvement' on deposit rules

Clancy Yeates 3:55PM

Banks have inconsistently applied a key aspect of new rules designed to make lenders more resilient during a bout of financial turmoil, the regulator says.

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Clime Asset Management's John Abernethy says the 'lost decade' for Australian equities comes at a bad time for the baby boomer generation heading into retirement

What the 'lost decade' means to investors

Vanessa Desloires 4:38PM

This year looks like one to forget on the Australian sharemarket, and few are expecting 2016 to swing from the chandeliers. Just chalk it up to one in a lost decade.

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Japanese retailer UNIQLO will open its 10th Australian store early next year.

UNIQLO Australia sales rise four-fold

Sue Mitchell 3:13PM

Japanese retailer UNIQLO appears on track to make a maiden profit in Australia this year.

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Netflix could have faced an Australian rival using Telstra's technology.

'Project Thunder': Telstra's Netlfix-killer

David Ramli 1:43PM

In 2013 Netflix was a shadow of the monolith it has become. But Telstra was already working a plan.

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Business Victoria 'dragging feet' on ride-sharing
Business Packer resigns as Crown director
Media & Marketing ABC confirms Guthrie as new MD
The Economy RBA gets Christmas wish as $A retreats
Business Telstra wins deal to fix copper lines and maintain NBN connections

Market Indices

Last updated: December 21, 2015 - 11:16PM

Currencies

United States Dollar
Last updated: Dec 21, 2015 - 11:02PM (delayed by 30 minutes)
0.7169	-0.07%
Euro
0.6599	-0.09%
British Pound
0.4813	-0.10%

Comment & Analysis

Colin Kruger, CBD

School's out for the corporate titans serving on PM's advisory council
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Ross Gittins

'Don't worry' budget built on bracket creep
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Malcolm Maiden

Less interest in politics since Turnbull arrived
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Solar accounted for about 2 percent of Australia's electricity generation last year.

How Broken Hill became a powerhouse

James Paton 4:04PM

As the iron ore dries up in Broken Hill, the outback town is seizing a resource in much more abundance.

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In Depth

An investor's letter to Santa

Hopefully you've been good this year and Santa will hear your requests.

Scott Phillips 3:01PM

Forget about the socks and the vouchers for Bunnings, this is what we really want this Christmas.

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Australia is still stuck in second

Australia ranks second-best in the world for its quality of life, the UN annual survey says.

For the second year in a row, Australia trails Norway as the best place in the world for quality of life, the UN says. Switzerland comes in third.

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2016 will be 'better than expected'

Saxo Bank's chief economist Steen Jakobsen believes Australia is on the right economic path under Malcolm Turnbull.

Mark Mulligan

The US Federal Reserve's first rate in hike in almost a decade should fire up credit demand .

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Workplace

Exploited 7-Eleven workers will not lose visas

Many 7-Eleven workers are on student or other visas and fear their visas would be cancelled if they came forward over breaches of work conditions.

Max Mason 7:32AM

The federal government will not cancel the visas of 7-Eleven staff who breached their work conditions in Australia while being exploited and underpaid by the convenience store chain.

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This CEO has rolled over 338 leave days

Illustration for bleisure [mixing business with leisure] - a businessman on holiday reclines with his feet up on his wheeled brief case, and dressed in board shorts and thongs and a suit jacket, tie and bowler hat.

Idea illo sep 28

travel Idea illo 28th september .jpg

Anders Melin

Bosses who rarely go on breaks can create a culture where employees feel insecure about taking holidays.

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Markets

Australia third in line for higher rates

The Aussie could still slip against the greenback despite the end of RBA cuts, say economists.

Mark Mulligan 5:27PM

The US Federal Reserve last week raised interest rates for the first time in almost a decade, and Australia may be less than a year behind it, according to the reckoning of some.

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Oil slides to 11-year low

Oil prices have slid below their GFC lows amid worries over increasing supply.

5:26PM

Brent crude oil prices has fallen to levels last seen in 2004 on renewed worries over a global oil glut.

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Markets Live: Santa goes missing

Investors are once again riding the crest of a renewed wave of global monetary policy easing.

Jens Meyer 4:59PM Live

Shares nudge higher at the close, thanks to a turnaround in the banks and BHP.

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Iron ore's jump to more than $US40 unlikely to last
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Apple crashes into bear market
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Share fall may slow 'Santa rally' amid rough ride for oil
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ASX need2know: Oil, Wall St point to lower open
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Judge blocks BHP Billiton's Brazil assets after dam disaster
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Brazilian assets of BHP frozen
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Yuan decline poses challenges
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World shares end 2015 where they began
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Indonesia's rupiah, South Korea's won and the Singapore dollar are projected to decline the most in 2016.

All Asia currencies seen down for third year

Search Quotes & Charts

The Economy

Uber is winning its taxi war

With NSW and WA giving the green light to Uber, pressure is mounting on Victoria.

John McDuling 10:20PM

As 2015 draws to a close, Uber's battles with Australian authorities are rapidly dwindling.

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'Don't worry' budget built on bracket creep

Ross Gittins 9:05AM

"Bracket creep" will help rein in the budget deficit for a government unwilling to raise taxes

Contains: total comments150 This article contains a video.

Coal's future looking blacker
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Pathology battle in every clinic in the country
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Less interest in politics since Turnbull took over
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The corporate lie: tax transparency 'misleading'
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18 of 70 tech companies on ATO list paid no tax
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Retail

Investors say BIG W sale still on the cards

Shareholders have urged to develop a clearly articulated 'good better best' pricing and product architecture.

Sue Mitchell 7:25PM

Woolworths shareholders reckon the appointment of former OrotonGroup boss Sally Macdonald to run BIG W is another sign that a sale or demerger is on the cards.

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Costco's Australian profits surge as sales top $1.3b

Costco Wholesale's Australian sales rose 50 per cent to $1.3 billion in 2015.

Sue Mitchell 8:24AM

Costco Wholesale appears to have finally achieved critical mass, six years after entering Australia, reporting a strong rebound in profit in 2015 as sales soared past $1 billion.

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Banking & Finance

City Pacific execs face $65 million legal bill

City Pacific former chief executive Phil Sullivan faces huge legal bill

Sarah Danckert 9:23AM

Text

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Crowdfunding still too costly says Sharesight chief

Doug Morris, Sharesight CEO, said: "Limiting crowdfunding to unlisted public companies ... means that a company like Sharesight could not have crowdfunded the raise we just completed."

Shaun Drummond

New crowdfunding rules would still put equity raising online out of the reach of investment app Sharesight, says chief Doug Morris.

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Judge questions Kisimul "fishing exercise" in Bendigo
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Mobile banking use jumps 26 per cent in a year: NAB
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Citigroup may cut at least 2000 jobs in January
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Class Super soars 41 per cent on debut
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More than a few bad apples at CBA
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Mining & Resources

Oil slides to 11-year low

5:26PM

Brent crude oil prices has fallen to levels last seen in 2004 on renewed worries over a global oil glut.

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Frydenberg says coal still has a future

Josh Frydenberg remains confident in coal's future despite tougher moves to tackle climate change.

Angela Macdonald-Smith 4:26PM

Coal is not incompatible with increased use of renewable energy and will continue to play a vital role in power generation in Australia, despite the landmark climate accord struck in Paris, according to federal Resources and Energy Minister Josh Frydenberg.

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World Business

Apple crashes into bear market

Seeing such a massive decline in Apple carries more weight than a similar decline in any other stock would.

Matt Krantz 3:28PM

Apple diehards who keep saying the stock "will come back" are going into hibernation.

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Twitter account of 'Pharma Bro' drug boss Martin Shkreli hacked

Martin Shkreli: "The $65 million Retrophin wants from me would not dent me."

12:33PM

The Twitter account of Martin Shkreli, the US pharmaceutical executive who caused a public furore after hiking the price of a life-saving AIDS drug, has been hacked, according to his spokesman.

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Shkreli says securities fraud charges 'baseless'
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'Wolf of Pharma Street' shows unwelcome mirror to industry
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'Most hated' CEO resigns after arrest
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'Lies, deception, greed' lead to arrest
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IMF chief Christine Lagarde to face French trial over Tapie affair
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China

Wind-up of Sino on hold

Sino Australia Oil and Gas has been in administration since May 2015.

Sarah Danckert

The directors of Sino Australia Oil and Gas appointed administrators because it was unable to deal with an investigation by the corporate regulator.

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China central bank sees growth slowing

The world's second-largest economy still faces downward pressure and the impact of fiscal and monetary policies that were rolled out this year will be evident by the first half of 2016.

Xiaoyi Shao and Kevin Yao

China's annual economic growth is likely to slow to 6.8 per cent next year from an expected 6.9 per cent this year, the People's Bank of China said in a working paper.

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Good times over for China's start-ups
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Alibaba buys South China Morning Post
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Fosun's Guo Guangchang goes missing
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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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Property Focus

Triguboff sticks with property

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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