Business News, Economy, Finance & ASX Market News

Big four finally feel the slowdown

Banking has changed dramatically since the global financial crisis, and it is finally affecting shareholder returns.

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Sorry, Scott, I don't believe it

Ross Gittins

As you may have heard Scott Morrison mention a time or two this week, this isn't an ordinary budget.

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And on the seventh day they shopped

Sunday is the biggest trading day of the week for the major supermarkets.

The seventh day shall be for shopping, Sundays are big business for grocery and the major chains are working overtime to make the most of this ...

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Poor culture on display as customers lose out again

The banks might not have acted illegally when throwing customers to the wall, but they did behave unconscionably.

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CBA cop a lashing from Senator Ketter

Commonwealth Bank of Australia chief executive Ian Narev has said cases highlighted at CommInsure were inconsistent with ...

The chair of the powerful Senate economics references committee has hit out at Commonwealth Bank of Australia chief executive Ian Narev.

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BHP's slow road to Samarco

There's a long way to go before the Australian group and its joint venture partner at Samarco, Brazil's Vale group, put the disaster behind them ...

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REITs are back in the black

The office leasing market in the CBD is delivering good results, particularly for landlords.

Real estate investment trusts are the favoured ship in town as they provide the safe harbour for investors against the stormy seas of uncertainty ...

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How Adidas is nutmegging the taxman

Adidas' revenues and gross profits have more than doubled in 17 years but they managed to pay less income tax last year than they did in 1999.

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Market Indices

Updated: May 6, 2016 - 4:41PM

Updated: May 6, 2016 - 6:01PM

Updated: May 7, 2016 - 1:36AM

Updated: May 7, 2016 - 1:21AM

United States Dollar

Price

0.7355

Percentage up/down

-1.57% fall
Euro

Price

0.6440

Percentage up/down

-1.62% fall
British Pound

Price

0.5095

Percentage up/down

-1.15% fall

Updated: May 7, 2016 - 1:06AM

Square, dink, dinks, dinkus, head shot, business, Michael Pascoe,

Fashion a victim of the endless summer

COMMENT

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Sorry, Scott, I don't believe it

Ross Gittins

As you may have heard Scott Morrison mention a time or two this week, this isn't an ordinary budget.

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Poor culture as customers lose out again

The banks might not have acted illegally when throwing customers to the wall, but they did behave unconscionably.

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BHP's slow road to Samarco

There's a long way to go before the Australian group and its joint venture partner at Samarco, Brazil's Vale group, put the disaster behind them and know how much it finally costs

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Meet your newest, dumbest co-workers

Never talk to a human at work ever again.

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Catch me if you can ... a job so popular they made films about it.

Here's the job that everyone wants

The tyranny of distance has proved a boon to one industry in its ability to attract recruits.

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Diana Holwerda at her home in Collaroy where she works

'Mumpreneur' an option of last resort for most

Working at home is not all it is cracked up to be.

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Interest rates could change again

Federal Election

VIDEO: What'll be the political impact of another rate cut as we approach an election? Chief political correspondent Mark Kenny explains.

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Not far off a housing bubble, bank pain'

VIDEO: International investors are wary of Aussie bank stocks because of the housing market's recent wobbles.

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CBA acted 'unconscionably'

VIDEO: Retiring MP Philip Ruddock slams the Commonwealth Bank following a parliamentary inquiry looking into impairment of customer loans.

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Futures pricing indicates the Australian sharemarket opening up 0.79 per cent on Monday.

ASX gains for a fourth week on rate cut hopes

The Australian sharemarket managed a fourth ...

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Sundell tops directors' trades, collecting more than $5 million

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Markets Live: $A dives on rate cut bets

Live

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RBA ready to cut rates again

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Aussie 'bitcoin founder' refuses to give proof, walks away

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Seven 'wildcards' could shock the market

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need2know: ASX set to drop

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The S&P 500 slipped less than one point to 2050.63 at 4pm in New York, trading near the lowest level since April 11.

S&P; 500 dips ahead of April jobs report

US stocks ended little changed as declines by ...

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Copper rods sit on storage racks following manufacture at the Aurubis metals plant in Hamburg, Germany.

Copper closes below 200-day moving average

Copper fell to its lowest in nearly three ...

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"The flow of investor money back into commodities has happened much more quickly than we thought it would," said David ...

Commodity rebound pits Citigroup v Goldman

Commodity bulls, it might finally be time to ...

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"I don't know how they came up with it, but $US44 billion is just crazy," said Patrik Kauffmann, a money manager at ...

Vale, Samarco bonds dive in wake of lawsuit

Bond investors are reeling after prosecutors ...

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Sorry, Scott, I don't believe it

Ross Gittins

As you may have heard Scott Morrison mention a time or two this week, this isn't an ordinary budget.

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Second interest rate cut on the cards

Treasury Secretary John Fraser: "These costings have considerable uncertainty attached to them."

There could be another interest rate as soon as next month, throwing a wildcard into the election campaign.

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Glenn Stevens, RBA governor: The bank has lowered its inflation forecast.

RBA ready to cut rates again

The RBA is not expecting inflation to return to its target range until 2018. That means further rate cuts may be on the cards.

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RBA names Philip Lowe next governor

Philip Lowe will take the top job at the RBA in September.

BREAKING

Reserve Bank of Australia deputy governor Philip Lowe will replace outgoing chief Glenn Stevens, Treasurer Scott Morrison has told parliament.

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New Zealand's cows are hurting NAB

Between February 2014 and March 2016, New Zealand dairy prices slumped 56 per cent.

Australia's banks might have ridden on the sheep's back, but they are now getting trodden on by New Zealand's cows.

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Tax Office needs to be 'monitored': inquiry

Tax Commissioner Chris Jordan had wanted to have less scrutineers looking into the Australian Taxation Office's affairs, ...

The Australian Taxation Office will continue to face the same level of scrutiny, despite its attempts to have less oversight.

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CBA cop a lashing from Senator Ketter

The chair of the powerful Senate economics references committee has hit out at Commonwealth Bank of Australia chief executive Ian Narev.

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Big four finally feel the slowdown

Banking has changed dramatically since the global financial crisis, and it is finally affecting shareholder returns.

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Macquarie chief executive Nicholas Moore reports a bumper result.

Macquarie Group posts record $2.1b profit

Macquarie Group has beaten analyst expectations to post a $2.06 billion annual profit, but cautioned next year's result will be "broadly in line" with 2016.

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Macquarie's chief Moore committed to top job, despite headwinds

Macquarie chief executive Nicholas Moore at the company's profit results on Friday.

Macquarie Group's chief executive Nicholas Moore hasn't lost his zeal for the top job as he delivered a record annual profit on Friday and cautioned of moderating earnings growth.

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Philip Lowe: From teen recruit to central bank chief

Philip Lowe will replace Glenn Stevens as governor of the central bank.

The incoming RBA chief has impeccable credentials.

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Super tax crackdown to prompt SMSF borrowing spike

Experts warn tougher limits on super will force more SMSF owners to take on debt to invest in property.

Accountants and wealth advisers predict a spike in risky property borrowing by self-managed super funds because of tougher superannuation rules.

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And on the seventh day they shopped

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Fashion a victim of the endless summer

COMMENT
Opinion

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Metcash asks competition watchdog to investigate its acquisition of Home

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Blackmores heads into Chinese herbal medicine

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CBA cop a lashing from Senator Ketter

The chair of the powerful Senate economics references committee has hit out at Commonwealth Bank of Australia chief executive Ian Narev.

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How Adidas is nutmegging the taxman

Adidas' revenues and gross profits have more than doubled in 17 years but they managed to pay less income tax last year than they did in 1999.

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Not just food scraps: Spoiled produce at Sydney Market is sent to the nearby Earthpower facility to be converted into energy,

The secret life of the fruit and veg you don't buy

2.5 million tonnes of produce pass through Sydney Markets every year - and 25,000 tonnes don't make it to the plate. But they don't end up as landfill either.

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BHP's slow road to Samarco

There's a long way to go before the Australian group and its joint venture partner at Samarco, Brazil's Vale group, put the disaster behind them and know how much it finally costs

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Rio Tinto launches $US5.3b copper expansion

Rio Tinto is ending a three-year stalemate and will push ahead with a $US5.3 billion expansion of the Oyu Tolgoi copper mine in Mongolia.

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Samarco signed a compensation and cleanup deal in March, agreeing to pay about 12 billion reais ($US3.4 billion) over 15 ...

Brazil court approves March deal with Samarco

A Brazilian tribunal ratified an agreement between the Samarco iron ore mine and federal and state governments over compensation for a tailings dam spill in November.

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Trump's finance chair linked to Madoff

Bernard Madoff, a former stock broker, investment adviser and financier, was convicted of fraud for running the biggest ...

Donald Trump's new national finance chair was sued in 2010 for $US3.2 million in fake profit from his mother's account with Ponzi scheme mastermind Bernard Madoff.

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$45m headache for Nurofen maker

Reckitt Benckiser was last week fined for misleading Australian consumers over claims about its Nurofen painkillers.

Last week, it was fined for misleading consumers about its Nurofen painkillers, now Reckitt Benckiser is under fire again.

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Adidas tees up golf business for sale

TaylorMade was acquired by Adidas in 1997. Its clubs are carried by professional golfers including Jason Day.

Adidas says it will actively seek a buyer for its TaylorMade, Adams and Ashworth brands and will instead focus on golf footwear and apparel sales.

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Real estate investment trusts are the favoured ship in town as they provide the safe harbour for investors against the stormy seas of uncertainty whipped up by the looming federal election, changes to superannuation, a volatile sharemarket for banks and low interest rates.

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Warehouses and industrial property are in hot demand.

Goodman Group on target for growth

Goodman Group looks set to see strong growth this year, as they have just had their best quarterly results for years and demand from the e-commerce sector and urban renewal projects remain high.

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The opening of the new section of Eastland shopping centre in Ringwood in May.

Shopping centres wary of warm winter weather

The abnormally warm weather across Australia's eastern seaboard has not slowed fashion sales in shopping centres but there are concerns it may have an impact.