World Business

 

Traders gear up for Brexit all-nighter

It's going to be a long busy night in London's Canary Wharf financial and business district.

Karl Lester Yap, Stefania Spezzati and Chiara Albanese 4:09 PM   Across Europe, banks are bringing in sleeping bags and bunk beds: It promises to be a record-setting night, whether in terms of trading volatility or in gallons of coffee consumed.

The $197m Brexit bonanza

It's been a $197 million bookies bonanza.

Michael P. Regan 10:59 AM   It's been a bonanza for the bookies. but can we trust their odds that the "leave" camp has a very slim chance to win the vote? Don't bet on it.

Brexit would hurt Britain's credit rating: S&P;

Nigel Farage, leader of the UK Independence Party, is campaiging hard for Brexit. a Leave vote would have big ...

9:07 AM   Britain could quickly lose its AAA credit rating after a vote in favour of leaving the EU, Standard & Poor's chief sovereign ratings officer tells German tabloid.

Trumponomics: Make America broke again?

Republican presidential candidate Donald Trump pumping fist.

Paula Dwyer   It all begins with tax cuts so massive they would result in $12.7 trillion in revenue losses. Then after the sugar hit, years of pain, Moody's analysis predicts.

Comments 10

Starbucks accused of underfilling lattes

You may love it, but it does count as a luxury.

Daniel Victor   The coffee chain is deliberately misleading customers to save money on milk, plaintiffs say. The company is fighting the claims.

Comments 8

Tragic turn in US insider trading case

Sanjay Valvani was accused of having made $US25 million getting the drop on US regulators' drug approvals.

Nate Raymond and Svea Herbst-Bayliss   Wall Street executive accused of making $33.5 million getting the drop on regulatory drug approvals is found dead in an apparent suicide.

VW's ex-CEO probed over market manipulation

Former VW CEO Martin Winterkorn. Prosecutors have been investigating 17 former employees at VW, including lower-level ...

German prosecutors probe Martin Winterkorn and another senior executive, who are suspected of possible market manipulation related to the car maker's emissions scandal.

Rajan jolts India with move to exit central bank

Reserve Bank of India governor Raghuram Rajan has declared his intention to step down when his term ends in early September.

Vrishti Beniwal and Sandrine Rastello   India's central bank governor Raghuram Rajan said he will step down when his term ends in early September.

IMF sends Brexit warning

Voting to leave could be bad news for the UK economy, the IMF has warned.

​A vote to exit the European Union in next week's referendum could leave Britain's economy more than 5 per cent smaller by 2019 than if it stays in the 28-nation club, the International Monetary Fund said.

Looks a bit like it's the 1930s

Governments will need to step up to encourage companies to invest again, says Morgan Stanley.

Enda Curran   To understand today's global economy, look back 80 years. Now, just like then, a financial crisis has left deep scars.

Comments 4

The $10 trillion musical chairs game

It's a traders' game of musical chairs. Who will be caught out when the music stops?

Eliza Ronalds-Hannon and Wes Goodman   To make money in today's bond market, keep finding the greater fool. It works until the music stops.

Comments 2

Singapore to out multinationals shifting profits

Singapore's government has long maintained that it is not a tax haven, but a value-adding hub.

Nassim Khadem   The low-tax nation has signed up to a global plan to fight tax evasion.

Comments 10

Meet the $9b man ready to pounce on Brexit

Trust the polls, not the bookies, says fund manager Stephen Lingard.

Tom Redmond   This money manager is loading up on cash to be ready to profit if the UK votes to leave the European Union.

Comments 4

Opinion

Goodbye to LinkedIn, Twitter and (almost) everyone else

As Facebook and Google soak up an ever larger share of digital ad dollars, Twitter's recent efforts to keep up are "all ...

Dante Ramos   It has something 320 million people can't do without, but Twitter's recent efforts to keep up with the Big Five are "all sad, and too late".

Microsoft breaks corporate taboo on pot

Microsoft has teamed up with LA start-up Kind to offer software that tracks marijuana plants from "seed to sale".

Nathaniel Popper   Until now, even the boring parts of the legalised marijuana world was too controversial for mainstream companies.

Comments 12

Revlon buys Elizabeth Arden for $US870m

Elizabeth Arden shares rose nearly 49 per cent after the deal was announced.

Nick Turner   Cosmetics maker Revlon will buy Elizabeth Arden for $US870 million in a deal that pushed the company's shares up 49 per cent on the day.

Mad scramble for a Brexit plan

Soros says the British pound will fall  'steeply and quickly' if there is a vote to leave.

Peter S. Goodman   As chances increase that Britain might actually walk, central banks, investors and businesspeople are franticly drawing up contingency plans. It's an exercise in guesswork and hope.

Comments 5

Yellen says Brexit vote influenced Fed

Janet Yellen after the Fed's open market committee meeting on Wednesday. The central bank left the target range for the ...

Christopher Condon   Federal Reserve chair Janet Yellen said Britain's referendum was a factor in the US central bank's decision to hold interest rates steady

Comments 2

IT worker detained in connection with Panama Papers leak

German activists wearing suits and Panama hats hold fake money while demanding greater transparency following the Panama ...

Jamey Keaten   A computer specialist for the Panamanian law firm Mossack Fonseca has been taken into custody linked to the leak of a massive trove of data on offshore companies.

Brexit's five big risks for markets

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

Mark Mulligan   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.

Comments 34

Exit the EU? We want back in, says this country

Britain's vote on June 23 whether to stay in or quit the EU has revived debate about the future of Greenland.

Alister Doyle   Whilst Britain's Brexit campaign is gaining ground, there's one country where politicians and business leaders mull rejoining the European Union. It's a fishy situation.

Comments 7

US court upholds net neutrality laws

Netgear Wireless-N Modem Router DGN2000
Price $219 Rating 4 
netgear.com.au
Roadtest wireless modems
icon 0904014

David R. Baker   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.

Comments 3

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.

Global jitters rattle markets

The return of the jitters: Patchy global growth, Brexit and US interest rates are driving investors away from stocks.

Mark Mulligan   A fresh bout of global fear ahead of the US Fed's latest rate decision is weighing heavily on markets.

Comments 1

Weak construction blunts Chinese rally

Workers stand on bamboo scaffolding at a construction site in Chongqing, China.

Philip Wen   Fresh data shows Chinese investment growth is at a 16 year slow.

Trump's loose lips causing pain

Corporate America is getting an unwanted work-out during Donald Trump's bid for the Presidency

Nick Carey and Emily Stephenson   Crisis management gets a work out during Trump's presidential bid

'What are Americans thinking?'

Corporate America is getting an unwanted work-out during Donald Trump's bid for the Presidency

Stephanie Baker and Amanda Gordon   The one question being thrown at American executives around the world is: Can Donald Trump really become president?

Comments 46

How to fend off Trump's Oreos attack

How to fend off Trump's Oreos attack?

Nick Carey and Emily Stephenson   As the US election campaign rages on, the wildcard candidate attacks companies from biscuits maker Mondelez to Ford, Apple and Amazon, calling for boycotts and sending down their shares. Their hands are tied.

The lunch that will set you back $4.7m

Diets: Paleo is unpopular with experts again.

Katherine Chiglinsky   Getting the undivided attention of the world's most legendary investor over a steak doesn't come cheap.

Tesla: Lost wheel was just the first surprise

A Tesla Model S. Tesla said any suggestion that it was trying to keep owners from reporting safety problems "is ...

Neal E. Boudette   Pete Cordaro was creeping down a dirt road in his 2013 Tesla Model S electric car, when he encountered a pothole and then heard a loud crack.