Business News, Economy, Finance & ASX Market News

Stock Ticker

Movers

Key Stories

Worse than the average bear

The steep fall has prompted several global banks to cut oil price forecasts.

Brian Robins 12:15AM

Ripples from the price of oil's extended slump are threatening to spread and slow global growth even further.

Contains: This article contains a video.

What does Turnbull really believe in?

Gareth Hutchens 12:15AM

The budget will require the prime minister to articulate his plan.

Contains:

Dick Smith chief executive Nick Abboud, who quit this week, was upbeat about the outlook for the retailer as recently as October and was shocked by the appointment of receivers.

Anchorage man: Abboud unplugged

Catie Low 12:15AM

Nick Abboud's departure from Dick Smith ends a tumultuous chapter for the long-time retailer.

Contains: This article contains a video.

ANZ has warned its staff that it has zero tolerance towards breaches of its code of conduct.

ANZ pledges crackdown on bankers

Jonathan Shapiro and Sarah Thompson 7:39PM

ANZ has warned staff will face the sack or fines if they breach its code of conduct.

Contains: This article contains a video.

Australian fund managers see the rainbow after the rain

The $100 billion case of deja vu

Vanessa Desloires 12:00AM

Local fund managers are scratching their heads about a $100 billion sharemarket plunge this year on what seems to be a repeat of August.

Contains:

BHP's Black Hawk shale in Texas is among the best shale acreage available in the US.

BHP Billiton joins blunder big league

Peter Ker 5:24PM

Comment: This $US20 billion punt is one of the biggest howlers of the resources boom.

Contains: This article contains a video.

NAB chairman Ken Henry says exiting the UK will allow the board to focus on driving domestic business.

Turmoil wont stop NAB's exit from the UK

James Eyers 6:52PM

Ken Henry says he is confident NAB will float UK subsidiary Clydesdale next month and once the deal is done the whole bank will breath a sigh of relief.

Contains:

Political News Australia 'has few tools left' to fight recession
Banking and Finance The last hurrah for broker benders
Markets ASX falls to mid-2013 low
Media & Marketing TV advertising spend flat, while digital and outdoor boom
Aviation Fares fall as airlines fight to fill seats

Market Indices

Last updated: January 16, 2016 - 2:44AM

Currencies

United States Dollar
Last updated: Jan 16, 2016 - 2:29AM (delayed by 30 minutes)
0.6892	-1.42%
Euro
0.6296	-2.13%
British Pound
0.4805	-0.91%

Comment & Analysis

Gareth Hutchens

What does Turnbull really believe in?
Contains:

Peter Martin

Australia 'has few tools left' to fight recession
Contains: total comments58 This article contains a video.

Jessica Gardner

Why the ANZ women felt they had to play along
Contains: total comments107 This article contains a video.

Hoodlum Entertainment's Tracey Robertson at the company's Brisbane offices: 'I'm a producer, that's what we do. We just make things happen from nothing.'

How to break into Hollywood (as an Aussie)

Dominic White 12:15AM

A first US network series commission is a life-changing moment for any producer, as Tracey Robertson found out.

Contains: This article contains a video.

In Depth

'Why is everyone on the board white?'

Diversity in the boardroom -- or rather, the lack of it -- has been embraced by more investors as a metric for making investment decisions.

Laura Colby 3:33PM

Tony Maldonado was just 15 when he posed the question. Now his family is taking on Apple with a "burdensome" proposal.

Contains:

Solar and wind just did the unthinkable

2015 should have been a rough year for clean energy such as solar. But the opposite was true.

Tom Randall 11:20AM

The world is now adding more power capacity from renewables every year than from coal, natural gas, and oil combined.

Contains:

Investing in Uber? Who needs numbers

Social media was awash with anger over Uber's "surge price" algorithm.

3:23PM

Wealthy investors just got dibs on shares of the car-ridesharing company, but that doesn't mean they're getting to see its financials.

Contains:

Workplace

The last hurrah for broker benders

'Guys who've risen through the ranks in Australian banks tend to have that go hard or go home mentality.'

Jessica Sier 12:15AM

Like the way of the corner office, 5am party binges are nearing their expiry date.

Contains: This article contains a video.

Striking public servants clip RAAF's wings

The technicians walked off their jobs at RAAF Base Williamtown, RAAF Base Richmond, HMAS Albatross in Nowra, and Defence Establishment Orchard Hills.

Noel Towell 12:15AM

Public service tech staff walk off job at airfields.

Contains:

Markets

Markets Live: No relief for ASX

Futures are pointing to a 1.6 per cent fall on the ASX 200 on Monday morning to 4850.

Patrick Commins 5:00PM Live

Shares reverse and early rally, making it nine losses in 10 sessions.

Contains: total comments384

China stocks head for third week of losses

The Shanghai gauge's losing streak is the longest since the week ended October 2.

Kyoungwha Kim 2:47PM

Chinese stocks headed for a third week of losses amid lingering concern about the government's ability to manage the economic slowdown and yuan devaluation.

Contains:

Investors pay premium for the 'new China'

China's sharemarkets are notoriously volatile, but foreign investors should be watching the Shenzhen, not Shanghai exchange for signs of growth in the 'new' China, Nikko Asset Management says.

Vanessa Desloires 2:01PM

China's sharemarkets make eye-popping daily movements, but behind the chaos Chinese investors are chasing the 'new' China, pouring their money into the Shenzhen rather than Shanghai market.

Contains:

Goldman to pay $7.2b to settle US probe
Contains:
Daredevil investor eyes North Korea
Contains:
Buffett expands oil bet, buys more Phillips 66
Contains:
Wall St rallies, Dow adds 227 points
Contains:
US recession bets at highest since 2013
Contains:
Oil higher as bears retreat
Contains:
Renault searched in emissions probe
Contains: This article contains a video.
need2know: ASX set for rebound
Contains:

Three-month aluminium ended up 1.3 per cent at $US1482.50 a tonne.

Copper rebounds, aluminium advances

Search Quotes & Charts

The Economy

Migration, climate top risks for Davos leaders

Economic fears, particularly for Chinese growth, and increasingly frequent extreme weather events are further red flags, resulting in a greater breadth of risks than at any time in the survey's 11-year history.

11:26AM

But China's turbulent markets, a tumbling oil price and Middle East tensions are likely to dominate corridor conversations at the World Economic Forum annual meeting next week.

Contains:

ACT unemployment rate holds at 5.2%

154,200 people were in full-time work in Canberra in December.

David Ellery

Canberra's unemployment rate steady in December

Contains:

Jobless rate holds steady at 5.8pc
Contains:
Property market to hit the brakes
Contains: total comments48 This article contains a video.
Jobs data: what the economists think
Contains:
Bright city lights mask China cracks
Contains: This article contains a video.
Multinationals appeal 'double tax' on profits
Contains: total comments4

Retail

Wesfarmers to invade British hardware market

Elizabeth Knight 5:01PM

Retailer's move to gain foothold in the UK home improvement market brings with it some geographical risk.

Contains: This article contains a video.

Twelve sacked from Dick Smith

The Dick Smith creditors meeting will unveil exactly how much the failed electronics retailer has left suppliers out of pocket.

Agnes King 11:22AM

Receivers of beleaguered retail chain Dick Smith have made 12 staff in the group's support office redundant.

Contains:

Banking & Finance

ANZ trader threatens more embarrassing revelations

A sacked ANZ bond salesman has defended his use of the corporate credit card.

Jonathan Shapiro 3:04PM

An ANZ bond salesman who is suing the bank for unfair dismissal has promised to make public more embarrassing information about the bank

Contains: This article contains a video.

Goldman to pay $7.2b to settle US probe

The firm will pay a $US2.39 billion civil fine, make $US875 million in cash payments and provide $US1.8 billion in consumer relief.

Matthew Goldstein 1:15PM

Settling the US mortgage-backed securities probe will cut Goldman's fourth-quarter profit by about $US1.5 billion.

Contains:

Are banks a bargain?
Contains:
Why the ANZ women felt they had to play along
Contains: total comments107 This article contains a video.
NAB's UK bank shows strong growth
Contains:
JPMorgan strikes confident tone
Contains:

Mining & Resources

BHP books shock $US4.9b writedown

BHP is beholden to weak US gas prices because the fields that produce liquids also produce gas.

Peter Ker 7:57PM

BHP has announced yet another massive impairment against its United States shale division.

Contains: total comments8 This article contains a video.

Metals X steps up hostile Aditya Birla bid

Metals X chief executive Peter Cook wants more disclosure from Aditya Birla Minerals.

Tess Ingram 5:32PM

Metals X chief executive Peter Cook has stepped up his assault on copper producer Aditya Birla Minerals as his company continues its pursuit of the unwilling target.

Contains:

World Business

What Morgan Stanley's telling its richest clients about Uber

The offering sent by Morgan Stanley is selling shares at $US48.77 apiece based on a valuation of $US62.5 billion.

Julie Verhage 3:23PM

Wealthy clients of Morgan Stanley and Bank of America just got dibs on shares of the unlisted Uber Technologies, but that doesn't mean they're getting to see the ride-sharing company's financials.

Contains:

Daredevil investor eyes North Korea

In this Oct. 10, 2015, file photo, North Korean leader Kim Jong Un delivers remarks at a military parade in Pyongyang, North Korea. North Korea said on Wednesday, Jan. 6, 2016, it has conducted a hydrogen bomb test. (AP Photo/Wong Maye-E, File)

Penn Bullock 11:45AM

US hedge fund manager says he believes the neo-Stalinist country holds extensive oil reserves.

Contains:

Migration, climate top risks for Davos leaders
Contains:
Russia provides glimmer of hope for oil
Contains: This article contains a video.
JPMorgan strikes confident tone
Contains:
Multinationals appeal 'double tax' on profits
Contains: total comments4
Redflex scandal trial to begin in Chicago
Contains: total comments1

China

China stocks head for third week of losses

Kyoungwha Kim 2:47PM

Chinese stocks headed for a third week of losses amid lingering concern about the government's ability to manage the economic slowdown and yuan devaluation.

Contains:

China stocks head for bear market

The Shanghai Composite Index sank as much as 2.8 per cent, falling more than 20 per cent from its December high.

Bloomberg News

Chinese stocks dropped below the lowest levels in last year's market sell-off and headed for a bear market.

Contains:

Bright city lights mask China cracks
Contains: This article contains a video.
China's youth still dream of a bright future
Contains: total comments1
Chinese tourists top 1m a year for first time
Contains:
China's currency action reaches 'nuclear levels'
Contains:
ASX is a slave to clumsy China
Contains: total comments33 This article contains a video.
Uneasy peace breaks out in the casino war
Contains: This article contains a video.

Featured advertisers

Property Focus

Mike Baird's $3 billion sell-off of public buildings

Up for sale: The Mercure Hotel in Sydney's CBD.

Jessica Irvine

The NSW government is selling off some of Sydney's most iconic buildings.

Contains: total comments113

No more beer and schnitzel in suburban pub war

The Buena Vista Hotel in Military Road, Mosman.

Michael Koziol

Prompted by changing tastes and lockout laws, glammed-up pubs are heading further out into Sydney's suburbs.

Contains:

Pub sector intoxicated with sales

The Newport Arms Hotel in Sydney has been sold to pub tsar Justin Hemmes.

Carolyn Cummins

Investors have poured more than $500 million into the pub sector, making it one of the busiest areas in the real estate sector.

Contains:

Goodman is to develop a giant facility for DHL on the Oakdale Industrial Estate in Western Sydney.

Online shopping shines the spotlight on the humble shed

Cheap debt, high yields drive offshore demand for industrial property
Contains:
Office markets see $35b in sales in 2015
Contains:
Nine Network's Mr Property in for a busy year
Contains:
Triguboff sticks with property
Contains:

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

City Tattersalls votes for $200m redevelopment

Scentre strikes $2.85m deal with Booodl start up

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.

Contains:

Executive Style

In the world of aged spirits, the concept of rarity sells.

The sign of a genuinely rare spirit

Luke McCarthy

While some top shelf spirits claim to be 'extremely rare', plenty of them aren't.

Contains:

Money

Calculators fool super fund members

The online calculators on some super funds' websites are shoddy.

John Collett

Some of the retirement calculators on the websites of the largest super funds are misleading fund members.

Contains:

Truth behind 'how to trade' courses

Learning how to be a trader is like joining the gym - without purpose, you won't stick at it.

Marcus Padley

Courses that purport to teach you how to be a trader are slow moving at best, but the real problem is they often come with an ulterior motive.

Contains:

Small Business

Is your business toast?

David Sonter's business burnt to the ground but he says "the gloves come off in a good way" between businesses which are usually rivals.

Caroline James

Disasters like bushfires, floods and hail storms can all destroy an unprepared business.

Contains:

In praise of boredom

Nowhere else (besides, say, a prison) is this pain of endless boredom more acute than in the workplace.

James Adonis

We live in a world petrified of boredom but maybe a little ennui is not such a bad thing.

Contains: total comments4

Business Video

Replay Video Icon

Player help icon

A bad year for commodities

BHP Billiton are hit hard by plunging commodity prices and a burst dam in Brazil.

Duration: 01:38

Search smh:

Search in:

Movers

What does Turnbull really believe in? Contains:

Australia 'has few tools left' to fight recession Contains: total comments58 This article contains a video.

Why the ANZ women felt they had to play along Contains: total comments107 This article contains a video.

A bad year for commodities

News & Weather

Business & Finance

Lifestyle

Classifieds

What does Turnbull really believe in?
Contains:

Australia 'has few tools left' to fight recession
Contains: total comments58 This article contains a video.

Why the ANZ women felt they had to play along
Contains: total comments107 This article contains a video.