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Crown to split off international casino business

James Packer and Crown Resorts chairman Rob Rankin.

James Thomson 5:52PM

James Packer's Crown Resorts will split its international business off from its Australian operations

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The ASX posted its worst day of the year, shedding $40 billion.

ASX dives to two-month low

Stephen Cauchi 4:51PM

Australian shares fell for a fifth straight session amid continued worries around a possible Brexit, falling commodity prices and ahead of the US Federal Reserve's rates decision.

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Flagging risk. Analysts say there are several reasons for markets to quake before the threat of a 'Brexit'.

Brexit: The five big risks

Mark Mulligan 3:15PM

The market tumult over the growing risk that Britons will vote to leave the EU may seem irrational, or at least overdone. It's not.

Contains: total comments24 This article contains a video.

Premier Investments' CEO Mark McInnes (left) and chairman Solomon Lew.

McInnes perks brings anger, dissent

Catie Low 2:24PM

Mark McInnes' generous pay package has proved a bitter pill to swallow for a number of Premier Investment's big shareholders.

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Virgin's $1b push a big test

Elizabeth Knight 3:21PM

The airline has doubled in size, but at a big cost. Can CEO John Borghetti's latest move help it boost profits and repair its balance sheet?

Contains: total comments2 This article contains a video.

SYDNEY, NEW SOUTH WALES - JUNE 11: Damien Cooly brings the hammer down for the sale of 3 Parer Street Maroubra on June ...

No sharp house price correction, says S&P;

Patrick Hatch 1:43PM

There will not be a sharp correction to Australian house prices any time soon, according to global rating agency S&P; Global.

Contains: total comments48 This article contains a video.

IG market analyst Angus Nicholson says 5200 and 5000 are the two technical levels that matter most.

Technically, the ASX could fall to 5000

Stephen Cauchi 4:44PM

The S&P;/ASX 200 index could retest the 5000-point level if negative momentum continues, according to an analysis of technical levels.

Contains: total comments1 This article contains a video.

Aviation Virgin Australia to raise $852m
Innovation Vodafone rebounds from 'Vodafail'
Advertising The $40b a year industry
The Economy Australia consumer mood dips
World business Exit the EU? We want back in!

Market Indices

Last updated: June 15, 2016 - 7:36PM

Currencies

United States Dollar
Last updated: Jun 15, 2016 - 7:21PM (delayed by 30 minutes)
0.7394	0.49%
Euro
0.6583	0.26%
British Pound
0.5211	0.00%

Comment & Analysis

Adele Ferguson

Discovering value accountants ignore
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Colin Kruger, CBD

More hurt for the Hartmans
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Michael Pascoe

The best economic plan: a marginal seat
Contains: total comments9 This article contains a video.

Garlic is a staple in the Asian diet, delivering steady demand.

'If you invest a million, you'll make a million'

2:41PM

Seeking a surer bet than the volatile stock and real estate markets, some Chinese investors are switching from shares to... garlic.

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In Depth

Brexit fears hit world markets, ASX

8:16PM

VIDEO: Phillip Lasker explains the volatile worldwide market activity.

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Living in a marginal seat

VIDEO: A lesson for everyone: it's a smart economic decision to live in a marginal seat. A safe seat means you don't matter. Michael Pascoe comments.

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Australian named best entrepeneur

VIDEO: Melbourne-based billionaire Manny Stul's Shopkins success see him awarded EY's World Entrepreneur of the Year title in Monaco.

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Workplace

The dads that back diversity

Beau Donelly 5:30PM

Most male CEOs are "sitting on the fence" when it comes to championing gender diversity, but not one group.

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Lazy, overconfident GenY? It's no competition

Myth busting: Dr Stephen Hitchcock (right) with Rob Webb (left).

Anna Patty

Some Generation Ys are reluctant to see themselves in terms of generational differences.

Contains: total comments11 This article contains a video.

Markets

Markets Live: ASX plunges below 5200

Patrick Commins and Jens Meyer 4:48PM Live

Investors dump the banks as shares suffer further losses.

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'If you invest a million, you'll make a million'

2:41PM

Seeking a surer bet than the volatile stock and real estate markets, Chinese investors have sniffed out an investment that will always be in demand.

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'Market is ready to sell everything' on Brexit

A pint of ale sits atop of a pile of Wetherspoon News publicity magazines, featuring articles about the EU referendum, ...

Mark Mulligan 8:29AM

Investors are on edge ahead of Britain's landmark vote.

Contains: total comments41 This article contains a video.

Rio Tinto will buy back $US1.7b of its 2018 bonds
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MSCI leaves China stocks out of benchmarks
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Boeing nears $US25b sale of aircraft to Iran
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Morgan Stanley resets fixed income unit
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need2know: Brexit hangs over markets
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Shares in US gunmakers jump
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Oil falls to three-week low as risk aversion rises
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German 10-year bond yield dips into negative territory
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Brexit fears wipe $30b off ASX

Search Quotes & Charts

The Economy

The way Australian billionaires earn their wealth

Matt Wade 1:26AM

Australia has a disproportionate share of the world's billionaires.

Contains: total comments42 This article contains a video.

The best economic plan: live in a marginal seat

Michael Pascoe

Hot on the heels of Assistant Treasurer Kelly O'Dwyer announcing $4 million for netball courts in her blue ribbon seat of Higgins comes news that maybe it's not a safe seat after all.

Contains: total comments9 This article contains a video.

Economy Business growing profit but not jobs
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Comment PwC advises multinationals 'read the play'
Contains: total comments7 This article contains a video.
'Gun culture alive and well' - and not just in US
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Lazy, overconfident GenY? It's no competition
Contains: total comments11 This article contains a video.

Retail

Brexit won't rub out Smiggle's UK rollout plans, says McInnes

Premier Investments chairman Solomon Lew, right, and chief executive Mark McInnes aren't worried a Brexit will hurt ...

Catie Low 7:17PM

Premier chief executive Mark McInnes has dismissed fears Britain's exit from the European Union will hurt its expansionist stationery chain Smiggle.

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Is this Bunnings' Masters moment?

Wesfarmers boss Richard Goyder earlier this year said the Homebase acquisition had been made with "eyes wide open".

Catie Low 8:18PM

Wesfarmers' UK home hardware expansion will be as damaging as Woolworths' disastrous Masters experiment, according to Bank of America Merrill Lynch analyst David Errington.

Contains: total comments28 This article contains a video.

Banking & Finance

Samsung Pay takes on Apple

Citi and Amex cards can be loaded on to new generation Samsung Galaxy devices.

James Eyers 3:30PM

Samsung is hoping its payment system launched in Australia on Wednesday will drive more sales of higher-end phones and challenge rival Apple in the contactless payment market.

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Goldman Sachs settles suit with Aussie fund over CDOs

'"Goldman was pressuring investors to take the risk of toxic securities off its books.'

Chris Dolmetsch 6:53PM

Goldman Sachs and an Australian hedge fund agreed to end a $US1 billion lawsuit over the sale of mortgage-linked securities.

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Suncorp CEO to retire
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Morgan Stanley resets fixed income unit
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CBA appoints Padbury as director
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Why some experts fear an apartment glut
Contains: total comments37 This article contains a video.
How losing trust hurts the economy
Contains: total comments28 This article contains a video.

Mining & Resources

Mulacek tilt at InterOil fails

Oil Search CEO Peter Botten is seeking to win over InterOil investors.

Brian Robins 6:42PM

A push to wrest control on InterOil has failed.

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Rio Tinto will buy back $US1.7b of its 2018 bonds

Rio is buying back $US943 million of 6.5 per cent notes due in July 2018 and $US804 million of 2.25 per cent securities ...

Sally Bakewell and Agnieszka de Sousa 8:10AM

Rio Tinto Group will repurchase about $US1.7 billion of bonds, its second buyback in about two months, as it seeks to cut debt.

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World Business

US court upholds net neutrality laws

Netgear Wireless-N Modem Router DGN2000
Price $219 Rating 4
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David R. Baker 11:54AM

In a move hailed by much of Silicon Valley, a US appeals court upheld federal "net neutrality" rules that prevent ISPs from slowing down service for some users.

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IMF sounds China debt warning

Slower growth in China has broader regional implications.

Philip Wen

Surging debt and a murky financial sector has the world's agency worried.

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Global jitters rattle markets
Contains: total comments1 This article contains a video.
Weak construction blunts Chinese rally
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Trump's loose lips causing pain
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'What are Americans thinking?'
Contains: total comments46 This article contains a video.
How to fend off Trump's Oreos attack
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Consumer Affairs

Hug-a-Bub goes belly up

Patrick Hatch 5:03PM

Here's why the maker of a popular brand of baby carriers has collapsed into administration.

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'It appears I won't be seeing a cent'

Lucy Cormack 2:08PM

Larry Emdur's Audi was sold through consignment - but he's still waiting for the $25,000 he was expecting.

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The extra 50 million customers hiding in plain sight
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1109 carat diamond up for auction
Contains: total comments1 This article contains a video.
Sydney Water's new fees
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Melanie's $231,000 tip-off
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Blitz on dangerous toys nets $30,000 in fines
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It costs $4.20 a week to power Pia's car
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Featured advertisers

Property Focus

Brutalism no obstacle for Woods Bagot fit-out

Woods Bagot's new office in the brutalist-style building on the corner of William and Little Collins streets.

Stephen Crafti

Woods Bagot had been in its Southbank office for 10 years. While the view of the Yarra from the building's domed ceiling was impressive, the office required updating.

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Vending machines are the new retail frontier

Moet vending machine at Selfridges department store in London

Carolyn Cummins

Lovers of Moët & Chandon champagne will soon be able to have their own AbFab moment, with plans advanced to have a vending machine full of bubbles in Australia.

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OECD warns of Aussie property demise

The way a home is priced – whether that be with no price, set-date-sale, offers from, a range, or via auction - is key.

The Organisation for Economic Co-operation and Development sees a 'dramatic and destabilising' end to Australia's property boom.

Contains: total comments221 This article contains a video.

Currently, about 75 per cent of Liverpool's residents leave the area for work each day.

Liverpool emerges as new growth centre

Developer checks out of California Hotel
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Coles, Viva to add over 100 petrol station sites
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PJ Gallaghers sells for $14.5m as investors look north to Queensland
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Darling Harbour in $1 billion revamp
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The 3.9-hectare vacant site at 45-61 Waterloo Road, Macquarie Park, is owned by the NSW government, which through ...

Macquarie Park looks to new developments

Illawarra land sales tipped to exceed $50m

Carolyn Cummins

Industrial property is seen as one offering substantial growth which has triggered the sale of seven sites in Illawarra, with an anticipated combined value of at least $50 million.

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Executive Style

Push on the gas pedal, and the car surges forward like a rocket.

Should you join the Tesla tribe?

Hannah Elliott

Much more than a mere car or SUV, an electric vehicle like this is a lifestyle.

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Money

High satisfaction with industry super

John Collett

Are scandals at the banks' wealth management arms at least partly behind the poorer satisfaction levels of members of bank-run "retail" super funds than those of industry funds?

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How this family saves $60k a year

Jasmine and Aaron Boothey of Adelaide and their children, daughter Blair (5) and son Hamish (2).

Kate Jones

Consumerism is the norm for many Australians but not for the Bootheys who save two-thirds of their take-home pay.

Contains: total comments69 This article contains a video.

Small Business

How co-working is changing

Taylor Tran, consultant and author of Innovation Melbourne a guide to shared offices.

Bhakthi Puvanenthiran

Most people probably already have a pre-conceived idea of what a co-working space is. But are they right?

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Businesses brush off reef bleaching

Kevin Collins of Fish D'Vine and the Rum Bar.

Alexandra Cain

Despite the environmental crisis in the Great Barrier Reef, local operators are digging in.

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The latest NAB survey of residential property developers, owners, agents and investors shows house prices will climb slightly, while apartment prices will fall as local investors and foreign buyers pull back.