Icarus Trade: Are global stock markets headed for a meltdown?

• COMMENT
• 7 mins ago

Bank of America calls it the Icarus Trade: global stock markets will surge another 10 per cent in a "melt-up" this quarter, followed by a mirror "melt-down" later in 2017. HSBC's latest global outlook is even darker.

Soros loses $US1b in Trump stock rally

• 43 mins ago

George Soros lost nearly $US1 billion as a result of the stockmarket rally spurred by Donald Trump's surprise presidential election, the Wall Street Journal reported.

Trump trade renews active managers

• 1 hr ago

The lockstep moves in financial assets that characterised markets in the past few years are breaking down.

AGL's victory to cut wages by 30 per cent

• EXCLUSIVE
• 1 hr ago

Hundreds of workers at one of Australia's largest power plants will have their pay drastically slashed by up to 30 per cent.

8@eight: US earnings set to kick off

• Sponsored

The US Q4 earnings season really kicks into gear tonight, with Bank of America (22:45 aedt) and JPM (00:00 aedt) starting the proceedings.

Schaeuble urges ECB to unwind stimulus

​The European Central Bank should start unwinding its ultra-loose monetary policy this year, said Germany's finance minister.

Turkish central bank lifts lira

Turkey's central bank finally gained traction in its efforts to prop up the lira.

China steel squeeze lifts iron ore

​Chinese rebar steel futures rose for a fourth session amid Beijing's campaign to pare excess steel production capacity.

Dow sinks as volatility returns

The S&P; 500 and the Dow were set for their worst day since October as bank stocks tumbled ahead of earnings.

Oil extends advance on Saudi cuts

Oil climbed after Saudi Arabia said it cut its production even more than required by an OPEC deal.

$US tumbles to five-week lows

The Aussie has surged above US75¢, extending its advance so far this year to more than 4 per cent on the greenback's woes.

US files Chinese aluminium complaint

The Obama administration filed a new complaint against Chinese aluminium subsidies at the World Trade Organisation.

Tigerair gets four-day reprieve to get stranded passengers out of Bali

​Indonesian authorities say they grounded Tigerair Australia because the budget airline was selling tickets on flights using aircraft owned and piloted by its parent company Virgin Australia, in breach of the rules of its licence.

Bleeding at Bellamy's not done yet say analysts

Its shares have slumped by a third in just two days, but that isn't enough to whet the appetite of some analysts, who reckon the shares should decline another 20 per cent or so to bring them back to 'fair value'.

Primary boss faces drawn out court process of up to 18 months

Primary Healthcare and its criminally charged chief executive Peter Gregg face a long and drawn out court process that could take 18 months, according to legal experts. 

Virtual credit cards get step closer

ANZ Bank is moving a step closer towards "virtual" credit and debit cards, through new changes to automatically upload replacement cards for those that are lost onto customers' smart phones.

Low SME premiums sting big insurers

Record low insurance premiums for small businesses, particularly tradies, are creating a drag on earnings for big insurers

BHP wage showdown in Chile

A wage negotiation at the world's top copper mine is showing the downside for producers of recovering prices.

Biopharma needs to stop getting blindsided by Trump

• COMMENT

Pharma investors and companies need to stop assuming Republicans can rein Donald Trump in and prepare for the policy fight they thought they'd mostly be able to avoid for at least four years.

ASX slips on healthcare stocks

Healthcare stocks dragged the ASX to its second loss of the year after an address by Donald Trump fuelled investor uncertainty.

Tiling for tips: Bank exec jailed for inside info to plumber mate

A former Barclays director has been sentenced to five months in jail for passing merger tips to a plumber friend and getting cash and free tiling in return.

'Vicious cycle': the biggest global risks over the next decade

Rising income inequality is the most important underlying trend determining global events, according to the WEF's annual assessment of global risks. For business, the biggest risk is the potential for cyber attacks.

Markets Live: CSL leads ASX to second loss in 2017

• Live

Losses in healthcare stocks and the supermarket giants offset gains in energy and miners, pulling the ASX down for just the second time in 2017.

Get set for a cracker Australia Day

Industry group has dropped all references to Australia Day amid growing calls to change its date.

AGL fined $124,000 for breaching political donations laws

Energy giant AGL has been fined $124,000 in the NSW Land and Environment Court for failing to disclose political donations when making planning applications in the state.

Uber exec: autonomous cars will smooth out surge pricing

Uber Vice President of Global Vehicle Programs Sherif Marakby talks about autonomous cars and the company's future at the North American International Auto Show in Detroit.

'Getting away with murder': Trump targets drug companies

US President-elect Donald Trump said pharmaceutical companies were "getting away with murder" in what they charged the government for medicines, and promised that would change, sending drugs stocks sharply lower on Wednesday.

Business chiefs more cautious in 2017

Fresh from a year that delivered major political shocks and proved tougher than expected, Australian business leaders are taking a cautious approach to 2017.

Why most economists are so worried about Trump

• COMMENT

It's the double whammy that worries economists, that Trump's populist pose assigns less value to economic expertise, while also creating the conditions under which it's most likely to be needed.