Business News, Economy, Finance & ASX Market News

Obstacles for Kogan after lacklustre listing

COMMENT
14m ago

In a business where margins remain wafer thin, there is no room for mishap or bad luck.

Markets Live: $A slips on AAA watch

Live
25m ago

The $A falls on S&P; outlook downgrade. ASX loses some steam.

Australia's AAA rating on negative watch

Scott Morrison says Standard & Poor's outlook reaffirms his government's approach to budget restraint.

43m ago

Ratings agency Standard & Poor's has cut the outlook on Australia's coveted AAA credit rating to negative after an unresolved federal ...

Tabcorp shares hit as NSW bans dogs

Greyhound racing in NSW generates about 5 per cent of Tabcorp's total wagering turnover.

59m ago

Tabcorp expects punters in NSW to shift their bets to other forms of racing after the NSW government's decision to end greyhound racing.

Ex-Aussie Home Loans broker facing jail

Michael Saadat from ASIC spoke to Money News

A former Aussie Home Loan mortgage broker admits to a commission-for-loan-scam for people struggling to get bank approval.

Medibank IT issue may delay tax returns

Medibank customers will likely have to delay filing tax returns.

Thousands of Medibank Private customers will likely have to delay filing tax returns because of major technical blunder.

Bank code of conduct review kicks off

Amid uncertainty over whether banks will face a royal commission, the industry's code of conduct is under review.

A code of practice setting out how banks should deal with consumers and small business customers will be put under the microscope.

$10b more UK property funds frozen

LONDON, ENGLAND - JULY 02: An inflatable EU balloon is hung on the Churchill statue in Parliament Squareas protesters ...

Four more UK property funds froze withdrawals as investors sought to dump real estate holdings in the aftermath of Britain's vote to leave the ...

Market Indices

Updated: July 7, 2016 - 3:04PM

Updated: July 7, 2016 - 7:15AM

Updated: July 7, 2016 - 2:00AM

United States Dollar

Price

0.7524

Percentage up/down

0.05% rise
Euro

Price

0.6779

Percentage up/down

0.03% rise
British Pound

Price

0.5796

Percentage up/down

-0.36% fall

Updated: July 7, 2016 - 2:35PM

Andrew Caspersen: "There was no real investment opportunity. It was just a way for me to get money to feed a gambling ...

Wall St high-flyer's 'shameful charade'

Housing Industry Association chief economist Harley Dale said new residential construction remained the powerhouse of ...

Housing boom fuels construction bounce

Canada's PM is a star attraction at this year's Sun Valley conference.

Trudeau steals the show at Sun Valley

Former Rabobank trader Paul Thompson was charged in 2014 and arrested in October in Australia at the request of US ...

Australian to plead guilty in US Libor case

Australia's Clayton's prime minister

COMMENT

It looks like Malcolm Turnbull is about to celebrate the ultimate Clayton's political victory. He gets the title but Bill Shorten gets de facto control.

Old-media link to Hanson's app heaven

Newzulu has finally received the celebrity endorsement it needs to really take off – thank you Pauline Hanson.

Malcolm, stop fighting to defend banks

COMMENT

As Labor, the Greens and even One Nation back a royal commission into the banking system, Malcolm Turnbull would do well to take a stand.

The 41-year-old software giant's latest pitch to recruit the next generation of engineering talent came off more awkward ...

Microsoft invites interns to 'get lit', play beer pong

In a bizarre effort to look hip and recruit young interns, Microsoft promised "dranks," "noms" and other tasty buzzwords at a party for "bae interns".

Downsizing the workplace

VIDEO: Kevin Ward talks from experience about the benefits of moving from a large company to a smaller one.

Brooke McAlary has found a new career in podcasting.

Mum's the word as blog leads to podcast enterprise

Slowing pace of life helps mother to discover whole new world of work.

Markets Live: $A slips on AAA watch

Live
25m ago

The $A falls on S&P; outlook downgrade. ASX ...

How investors are responding to Brexit

1h ago

Wall St high-flyer's 'shameful charade'

Australian to plead guilty in US Libor case

Central banks betrayed by 'false idols'

need2know: ASX to rise, $A up

Local shares are poised to jump higher at the ...

The Fed's late-July meeting won't be followed by a press conference with chair Janet Yellen.

Fed strengthens dependency on data

Fed officials left rates on hold last month ...

Goldman is recommending that clients invest in firms with high dividend yields and high domestic exposure due to the ...

Goldman sees as much as 10pc drop in S&P; 500

Now is not the time to buy US stocks, so says ...

KPMG Australia chairman Peter Nash. 'Geopolitical volatility is here to stay.'

Political accord vital amid global volatility, says KPMG head

We mustn't wallow in the challenge of what we ...

Trudeau steals the show at Sun Valley

The Sun Valley media conference has drawn the cream of the corporate crop for more than three decades. This year's guest list is no exception.

Central banks betrayed by 'false idols'

"Our credit-based financial system is sputtering, and risk assets are reflecting that reality," Bill Gross wrote in his ...

Billionaire bond investor Bill Gross has a message for Janet Yellen: take a lesson from Monopoly.

When business names go bad

This childhood favourite later changed its name to the more generic FADS Fun Sticks.

It's all well and good to come up with a catchy business name. But what if the world shifts and you're left with something downright inappropriate?

Federal election 2016: Standard and Poor's puts Australia's AAA credit rating on negative outlook

44m ago

Ratings agency Standard & Poor's has cut the outlook on Australia's coveted AAA credit rating to negative after an unresolved federal election result and high levels of debt.

Housing boom fuels construction bounce

Australia's hot property market has driven the fastest pace of building activity growth in 10 months.

The Brexit figurehead, former London mayor Boris Johnson.

Leaving the Leavers: Poles mull returning home as Brexit hurts UK

As the Tories talk tough, UK employers who rely on immigrant workers are rushing to reassure them they're wanted and needed, urging them to sit tight while the UK government negotiates a new relationship with the EU.

Chinese tourist boom hits record high

The number of Chinese tourists venturing Down Under has hit an all time high, while migration levels have slumped to a nine-year low.

Systems go: RBA leaning toward a cut

ANALYSIS

The Reserve Bank board's next meeting, in four weeks time, will be live, meaning it'll do more than simply review the state of the economy.

Retail sales weak despite May rate cut

Sales at department stores were flat, and turnover in household goods and clothing and footwear dropped more than 1 per ...

The value of retail sales across Australia rose just 0.2 per cent in May, seasonally adjusted, despite the RBA's rate cut that month.

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

Samsung Pay takes on Apple

Samsung is hoping its payment system launched in Australia on Wednesday will drive more sales of higher-end phones.

Bank code of conduct review kicks off

A code of practice setting out how banks should deal with consumers and small business customers will be put under the microscope.

An ASIC investigation has led to the arrest and charging of a home loan broker

Ex-Aussie Home Loans broker facing jail

A former Aussie Home Loan mortgage broker admits to a commission-for-loan-scam for people struggling to get bank approval.

Italian bank crisis may widen

What's needed is a European solution," Societe Generale chairman Lorenzo Bini Smaghi said. "So far, we've had national ...

Rules limiting state aid to lenders should be reconsidered, says SocGen's Lorenzo Bini Smaghi.

MasterCard UK targeted for $33b class action

The claim against MasterCard would be the UK's biggest and one of the first filed under the Consumer Rights Act 2015.

A $33 billion claim against MasterCard over unfair cross-border transaction fees would be Britain's largest ever.

Banks raise billions, despite Brexit jitters

NAB was the first big four bank to raise money on wholesale markets since Brexit.

NAB the first major local bank to raise wholesale funding since Brexit.

Obstacles for Kogan after lacklustre listing

COMMENT
14m ago

Kogan falls on ASX debut

Half a million reasons hoverboards are still unsafe

Lew's Just Group sues departed CFO after Cotton On poaching

Bank code of conduct review kicks off

A code of practice setting out how banks should deal with consumers and small business customers will be put under the microscope.

A photo of a lame duck in a Tinder Creek shed taken in late 2015.

'Ducks with twisted necks walking in circles unable to eat'

Warning: graphic images. Major restaurants and butchers cut duck supplier over animal welfare accusations.

The hoverboard industry under fire as half a million models recalled in the US.

Half a million reasons hoverboards are still unsafe

Up half a million hoverboards are to be recalled in the US, following at least 99 incidents in which a battery pack overheated.

Threat to gas prices from rising market volatility

23m ago

Any reprieve for the household budget from any decline in gas distribution charges may prove to be transitory with energy group AGL warning that a rise in spot gas prices will cut its bottom line by $100 million.

FIFO workers face leaner times

Times are changing for FIFO mine workers.

1h ago

Once showered with incentives and huge pay packets for working on Australia's remote mines, FIFO workers are facing less attractive conditions as companies struggle to survive the commodity price downturn.