Financial Review - Business, Finance and Investment News

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OPINION
53 mins ago

Five lessons from today's profits

Just days after the Reserve Bank downgraded its economic outlook, airline Virgin Australia, car parts supplier Bapcor ...

The upbeat mood from the first weeks of earnings season was shaken on Wednesday, a diverse range of companies warning of economic weakness.

EXCLUSIVE
43 mins ago

The ACCC is looking at the activities of the big four firms.

Big four cartel conduct 'difficult to prove'

Experts warn that cartel conduct was "hard to prove" and the Australian Competition and Consumer Commission's probe into the big accounting firms may not find evidence of wrongdoing.

Bill Coen, secretary-general of the Basel Committee on Banking Supervision, speaking at the AFR Banking and Wealth ...

Bank regulators struggle with culture

The world's most senior banking regulator says culture is such an amorphous concept that APRA will struggle to meet its Hayne recommendations.

1 hr ago

CSL and CBA drag ASX lower

The Australian sharemarket closed 0.3 per cent lower on Wednesday, as investors in the index heavyweights headed for the exits.

5 mins ago

The Morrison government has beefed up its border protection measures and will reopen the Christmas Island detention centre in anticipation of what it claims will be a resumption of the people smuggling trade.

street talk

More restructuring at Macquarie Private Wealth

There's never a dull moment at Macquarie Private Wealth.

Sydney vacancy rates rise 40pc

The number of vacant properties for rent in Sydney jumped a staggering 40 per cent from 15,775 last January to 22,426 this year and is expected to further climb.

5 of the most desirable homes for sale

This four-bedroom home in Sanctuary Cove is perfect for al fresco living.

CSL keeps its growth stock mantle

CSL chief executive Paul Perreault says profit this year will be at the upper end of guidance or about $US1.95 billion.

The battle over Byron Bay's Airbnb boom

Byron Shire Council may be able to limit short-term rental accommodation to 90 nights per year.

How this 27-year-old built a $1b start-up

Ankiti Bose. Of the 239 venture capital-backed start-ups around the world worth at least $US1 billion, only 23 have a ...

3:36PM

More restructuring at Macquarie Private Wealth

9:03AM

Moelis & Company managing director departs firm

9:32AM

Saudi Aramco makes sense for Woodside's Scarborough: CS

10:26AM

Rupert Murdoch summons editors

9:07AM

FFA dines out on Alen Stajcic blitz

Corporate Travel calls in the FBI

APRA chairman Wayne Byres addressed the global prudential regulatory community on Wednesday about the lessons of the ...

Banks can't wait for regulators on Hayne

APRA chairman Wayne Byres says banks and their boards have ultimate responsibility for cementing the banking royal commission recommendations.

US rate rise boosts Computershare

Computershare's underlying business is stable and the company has benefited from higher interest rates in the US, Britain and Canada, says chief executive Stuart Irving.

Evolution looks to gold price boost

Evolution Mining's Queensland gold operations have escaped the worst of devastating floods, keeping its full-year output and cost guidance unchanged.

'Treacherous' climate politics means business must lead

Shell's head in Australia, Zoe Yujnovich, has urged business to take the lead on reducing greenhouse gas emissions to send strong signals to the next government to introduce lower carbon policies.

CSL chief executive Paul Perreault says the interim results are solid given they follow last year's good report and as ...

CSL interim profit climbs, raises full-year guidance

CSL chief executive Paul Perreault said the blood products company was excited by "a tremendous amount of strength across the business" after announcing a 6.8 per cent increase in half year net profit.

Today's half year results contain some good surprises.

Markets Live: ASX closes at 6063

S&P;/ASX 200 closed 15.5 points lower at 6063. It hit 6094 in early trading and got dragged down in the afternoon.

The Reserve Bank's head of economic analysis Alexandra Heath says despite the central bank downgrading its consumption ...

Jobs market 'much stronger' than expected: RBA

The RBA's head of economic analysis has backed the central bank's confidence in wage growth, claiming it should offset any softening in consumption that might be linked to a negative wealth effect.

Steer clear of Nissan for now

Just when the Japanese carmaker needs guidance, tensions with partner Renault loom large.

Broker fires back at Baillieu family

Melbourne stockbroking firm Baillieu 1889 has fired back against claims by members of Melbourne's elite Baillieu family that the company can't use the name.

The Reserve Bank of New Zealand kept its key cash rate on hold at 1.75 per cent.

RBNZ on hold at 1.75 pc, Kiwi jumps

The RBNZ kept its key cash rate on hold at 1.75 per cent and said it expects it to stay there through 2020, sending the kiwi sharply higher.

Five lessons from today's profits

By James Thomson

The upbeat mood from the first weeks of earnings season was shaken on Wednesday, a diverse range of companies warning of economic weakness.

CSL keeps its growth stock mantle

By Chanticleer

The wisdom of investing in companies with $US-denominated earnings was clear when CSL reported 10 per cent growth in its net profit.

Is the AFR far right as Rudd says?

By The AFR View

Former PM Kevin Rudd has denounced the Financial Review's editorial stance as "one of the most right wing in the country". But what might that mean?

How Hayne set speedbumps for Carsales

By Chanticleer

An online classifieds company might be the last place you'd expect to take a hit from the banking royal commission. But chief executive Cameron McIntyre says it has thrown up several problems.

Labor's health spokeswoman Catherine King says a Shorten government will create a permanent national health reform ...

Labor hints at 'Mediscare' campaign rerun

Catherine King says the scare campaign over Medicare privatisation was based in fact and shows the Liberals can't be trusted on health.

Mr Katter said Mr Morrison had assured him something was in train and would be announced by Agriculture Minster David ...

Katter not interested in 'farcical' Hayne

Crossbench MP Bob Katter has dismissed the Hayne Royal Commission as a waste of time and indicated he will not support the recall of Parliament to deal with its recommendations.

Labor backs down on huge fines for banks

Bill Shorten has backed down on Labor's push for uncapped fines for white collar offences by misbehaving banks and companies, instead opting for maximum penalty of $525 million.

Morrison toughs out historic loss

The Morrison government has suffered a historic loss in the House of Representatives after Labor, the Greens and the crossbench combined to pass laws for the medical transfer of asylum seekers to Australia for treatment.

Government procurement documents show the Home Affairs Department ran a "limited tender" for both contracts won by ...

No open tender for lucrative Manus contracts

The federal government chose not to run an open tender process for contracts worth $423 million to provide security for refugees on Manus Island.

Senator Marco Rubio has questioned the benefits of Donald Trump's signature 2017 company tax plan.

Rubio the moderate looks to discourage share buybacks

America is in the grip of a tax debate - like Australia was in late 2015 - and the bold ideas are flying thick and fast.

Niall Ferguson: 'On balance you would have to say the international financial system is not really much more stable than ...

'Illusions' of heavy regulation mask risks

British historian Niall Ferguson is urging Australia to avoid the mistakes of US and European regulators who tried after the 2008 crisis to regulate "with great specificity every single aspect of a bank's operation".

Get cracking on Hayne, say experts

Veterans of Britain's banking inquiries say reform momentum can fade quickly, and the threat of prison might be needed to focus CEO's minds.

Chinese shoppers still in the lap of European luxury

The French conglomerates that own Gucci, Hermes and Louis Vuitton are still bagging big sales growth in China even as the likes of Apple struggle with the slowdown.

Russia volunteers to 'help' resolve Venezuela crisis

When Barack Obama was president, Vladimir Putin volunteered to 'help out' in Syria. That war hasn't ended yet.

Shake-up in subprime market as exiting lenders replaced by new.

Subprime lending in shake-up

Digital home-loan lender Tic:Toc is launching into the sub-prime market targeting small business owners as five lenders quit the sector claiming "industry changes".

Residents may be offered wine with a meal which is selected from a menu or have the paper delivered.

Cost of the 'feel good' factor in aged care

Hotel-like 'extras' present a financial dilemma for families weighing up the benefits of paying more for something that has nothing to do with care but may make loved ones feel better.

AMP chief economist Shane Oliver: "It's well-known that when the consensus of experts' forecasts are compared with ...

The 9 bad habits of highly ineffective investors

In the upside-down world logic that applies to much of investing, there are a bunch of mistakes investors often make which makes it harder for them to reach their financial goals, writes Shane Oliver.