Business News, Economy, Finance & ASX Market News

CIMIC faces lawsuit from Middle East partner

EXCLUSIVE
Adele Ferguson and Patrick Hatch

Australian construction giant CIMC Group, formerly Leighton Holdings, is facing a damaging lawsuit launched by a partner in its besieged ...

'Diamond' Joe dealing until the end

Joe Gutnick, whose debts stand at $275 million, issued a $2.7 million loan just 16 days before going bust.

Sarah Danckert and Mark Hawthorne
1h ago

Fairfax Media can reveal Joe Gutnick was still wheeling and dealing in the days leading up to his bankruptcy.

NAB shake-up creates country’s biggest retail super fund

NAB executive general manager of superannuation, Paul Carter (left), and group executive for NAB wealth, Andrew Hagger.

Clancy Yeates

National Australia Bank is merging five of its superannuation funds to create the country's biggest retail fund.

After Dick Smith came... childcare?

Colin Kruger, CBD

Just weeks before Dick Smith collapsed into oblivion, the private equity group that sold it to the public acquired a childcare business.

There's a cost to not being friendly to ex-employees

Employees can make or break your business.

Greg Weiss

Mitch Joel, the author of Six Pixels of Separation famously wrote, 'Your brand is not what you say it is, it's what Google says it is.'

Dick Smith cause of death: bad strategy, not foul play

SYDNEY, AUSTRALIA - FEBRUARY 25: Shopers walk into the Dick Smith store, Bondi Junction in the Westfield Centre, as ...

Elizabeth Knight

The first official autopsy into the demise of Dick Smith appears to have found the cause of death.

Trader dropped lawsuit to 'protect family'

Etienne Alexiou has dropped his case for unfair dismissal against ANZ.

Patrick Hatch

An ANZ trader who sued the bank over his sacking says he dropped the explosive lawsuit because of the impact it was having on his family.

ASX gains for a fifth session

The Australian shares of BHP and Rio Tinto have appreciated rapidly compared to the miners' London shares.

Patrick Commins

A strong bounce in oil and a surging iron ore price set the scene for further gains on the local sharemarket.

Market Indices

Updated: July 13, 2016 - 2:47PM

Updated: July 13, 2016 - 4:01PM

Updated: July 13, 2016 - 10:55PM

Updated: July 13, 2016 - 10:59PM

United States Dollar

Price

0.7628

Percentage up/down

0.07% rise
Euro

Price

0.6863

Percentage up/down

-0.44% fall
British Pound

Price

0.5764

Percentage up/down

0.12% rise

Updated: July 13, 2016 - 10:40PM

Dick Smith's administrators confirmed creditors' worst fears, saying the retailer had an assets shortfall of more than ...

After Dick Smith came... childcare?

CBD: Weeks before Dick Smith fell into oblivion, private equity group that sold it to the public acquired a childcare business.

Bad strategy, not foul play

ELIZABETH KNIGHT: The first official autopsy into the demise of Dick Smith appears to have found the cause of death.

Chinese highlight Australia's shift

Exports of services, including a surge in Chinese tourists to Australia, are helping to limit the pain of a mining slump.

ANALYSIS

How a Chinese tourism boom, and a slide in the number Australians jetting to Bangkok, symbolises big changes in our economy.

How to invest for an Asian arms race

Rising tensions in the South China Sea ...

ASX gains for a fifth session

Markets Live: Resourceful ASX climbs

Live

Brexit, election dent consumer confidence

New digital currency soars to $197m in 2 weeks

Iron ore soars nearly 7 per cent

Can May stabilise the UK?

Global equities have erased all of their losses since Brexit.

need2know: $A jumps, ASX set for positive start

Global equities have erased all of the losses ...

It's difficult to find silver plays in Australia.

Investors hunt for ways to ride silver's surge

Some of the country's savviest investors are ...

Sacked trader drops case against ANZ

Etienne Alexiou, the trader at the centre of ...

A record high on Wall Street helped lift the ASX on Tuesday.

ASX joins easy money party

The promise of more stimulus in Japan and a ...

Prepare to answer the tough questions to nail an interview.

How to answer tricky job interview questions

Gabrielle Dolan

Speaking up about something wrong doesn't always pay off if you're a junior at work.

Costs to speaking out

Jim Bright

Herbert Smith Freehills HR Manager Andrea Bell and colleague Chele Dore.

Ditching performance reviews backfires: study

Anna Patty

'Diamond Joe' loses his sparkle

Once a BRW rich-lister, mining magnate Joseph Gutnick has filed for bankruptcy.

Pokemon Go players swarm Rhodes

Peg Paterson Park in Sydney's west has been taken over by crowds of obsessed Pokemon Go players drawn to the hotspot.

T-Swift made $226 million in 2016

According to Forbes, Taylor Swift Is the world's top-earning celebrity of the past twelve months, pocketing $226 million.

Turnbull must switch to a budget for all Australians

COMMENT

The plain fact is that the mainstream politicians have forfeited our trust and lost our respect.

RBA plays down credit rating fears

RBA's Luci Ellis: "I think it's fair to say that countries that have experienced sovereign downgrades from where we are ...

Countries that have lost their AAA rating have not experienced dramatic financial consequences, RBA's Luci Ellis says.

Despite the generally positive mood, the outlook for retailers continues to be dogged by cost pressures.

Business shrugs off Brexit, pre-election doubts

Business has shrugged off post-Brexit market volatility and pre-election doubts to report some of the best conditions since the global financial crisis.

Consumer confidence hit by election

'Confidence has been buffeted by uncertainty': ANZ head of Australian economics Felicity Emmett.

Consumer confidence has fallen for a third straight week amid uncertainty about the election result and the outlook for the global economy.

Can we ignore the bond market alarm bells?

Janet Yellen, chair of the US Federal Reserve.

ANALYSIS

If the bond market is correctly predicting the economic path ahead, we should all be terrified.

Moody's delivers an ultimatum to Australia

A debate is now raging about what sort of government Malcolm Turnbull should lead.

COMMENT

The second of the world's large ratings agencies, Moody's, has effectively put the new Turnbull Coalition government on probation.

Unsecured creditors won't get money from Dick Smith

Catie Low

Unsecured creditors are unlikely to get anything from the administration of failed electronics chain Dick Smith.

Coles sharpens private label pricing to 'squeeze' Woolworths

Coles has cut prices on 145 private label grocery lines.

Catie Low

Coles has cut the price of 145 home brand grocery lines by as much as 25 per cent as the supermarket war homes in on home brand.

Dick Smith fallout could still burn Metcash

Former Dick Smith chief Rob Murray is also the chair of listed wholesaler Metcash.

Catie Low

Dick Smith chairman Rob Murray has hit back at allegations the electronics chain's managers and directors inflated profits.

NAB wealth shake-up creates country’s biggest retail super fund

National Australia Bank is merging five of its superannuation funds to create the country's biggest retail fund.

Google doomsday for payday lenders

Companies like Nimble can no longer target ads through Google.

Australians looking for a loan will be more likely to find help than a loan shark after a Google advertising ban comes into effect.

Sacked trader dropped lawsuit to 'protect family'

An ANZ trader who sued the bank over his sacking says he dropped the explosive lawsuit because of the impact it was having on his family.

Sacked trader drops case against ANZ

Etienne Alexiou, the trader at the centre of ANZ's dealing room culture scandal, has dropped his case against the bank

Bankers set up review into themselves

Former Australian Public Service Commissioner Stephen Sedgwick will head the banking lobby's pay review.

Former Australian Public Service Commissioner Stephen Sedgwick will lead a review into bankers' pay and commissions.

RBA plays down credit rating fears

Countries that have lost their AAA rating have not experienced dramatic financial consequences, RBA's Luci Ellis says.

Rhodes workers join the Pokemon Go craze

James Lemon

Google doomsday for payday lenders

Patrick Hatch

Metal shavings: Aldi recalls food product

Esther Han

'Diamond' Joe dealing until the end

1h ago

Fairfax Media can reveal Joe Gutnick was still wheeling and dealing in the days leading up to his bankruptcy.

BHP and Rio shares cheaper in London

The value of BHP and Rio Tinto's Australian shares have soared compared to the two miners' London stock

Investors hunt for ways to ride silver's surge

Some of the country's savviest investors are betting on a little known ASX-listed miner as a way to play the roaring silver price.

CIMIC faces lawsuit from Middle East partner

EXCLUSIVE

Australian construction giant CIMC Group, formerly Leighton Holdings, is facing a damaging lawsuit launched by a partner in its besieged billion-dollar Middle East joint venture.

Japanese may need to work until they're 80

Economists say that if Japan wants to alleviate its worsening labour shortage, it needs a whole lot more people working well into their 70s.

Slow times on NY's Billionaires' Row

In and around West 57th Street, known as Billionaires' Row, "it's not just slow - it's come to a complete halt," said ...

New York City's ultra-luxury real estate frenzy - with its sky-piercing condominium towers and $US100 million price tags - has finally come to an end.