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Latest News

May 9, 2019 May 9, 2019

Technology

It’s not your car they’re replacing

Waymo Chrysler Pacifica.

An offshoot of Google parent Alphabet, Waymo says it’s building a driver, not a car.

17 minutes ago
May 9, 2019

Economics

Key sectors shredding jobs

Construction best paying NT job

“Bellwether” sectors of the economy have been haemorrhaging jobs in 2019, warns JPMorgan.

53 minutes ago
May 9, 2019

The Wall Street Journal

China plays hardball on trade

Donald Trump

Trade talks risk failure after Beijing took a hard line because it felt Donald Trump was ready to make concessions.

1 hour ago
May 9, 2019

Politics

States attack Labor’s tax, property plan

This handout photograph taken on May 8, 2019 and released by Australian Prime Minister's Office shows Australia's Labor leader Bill Shorten taking part in "The Leaders' Debate" at the National Press Club of Australia in Canberra - Last week's poll showed the election will be closely fought, but also underscored the complexities of Australia's election system -- which asks voters to rank parties by preferences and encourages voting pacts between major and minor parties. (Photo by Adam TAYLOR / various sources / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / AUSTRALIAN PRIME MINISTER'S OFFICE / ADAM TAYLOR" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

Three state treasurers warn Bill Shorten’s negative gearing and tax changes will cost up to $1.4bn a year, and put a dent in GST revenues.

1 hour ago
May 9, 2019

Mining & Energy

Caltex margins grind lower

Uwe Klimmer, senior area operator, checks the diesel hydrotreater unit in the sour water plant at Caltex Australia Ltd.'s Lytton refinery in Brisbane, Australia, on Tuesday, Dec. 21, 2010. Caltex Australia is the nation's biggest oil refiner. Photographer: Eric Taylor/Bloomberg *** Local Caption *** Uwe Klimmer

Caltex’s first-quarter earnings dived as its fuel margins took a hit and earnings at its Lytton refinery plunged.

2 hours ago
May 9, 2019

Companies

GrainCorp loss kills payout

Harvest Western District

GrainCorp won’t pay an interim dividend after swinging to a $59m loss, and tough times look set to continue.

May 9, 2019

Property

Worst over for housing: ANZ

Auction in Epping

Housing prices are set to stabilise in 2019 as the market enters recovery mode, says ANZ.

May 9, 2019

Financial Services

Macquarie downsizes in Gulf

Sea and skyscrapers in Abu Dhabi

Macquarie Capital is scaling down operations in the UAE and giving up an operating licence in Saudi Arabia.

May 9, 2019

Financial Services

QBE dodges second strike

Qbe Ceo

QBE has avoided a second strike at today’s AGM in Sydney, with almost 90pc of investors backing its pay report.

1 hour ago
May 9, 2019

Business

CFMEU faces huge fines

Supplied Editorial

ABCC seeks hundreds of thousands of dollars in fines against the CFMEU, four senior NSW officials.

May 9, 2019

Mining & Energy

Santos signs new gas deals

Santos Ltd. Gas Operations in Narrabri

Santos pushes ahead on NSW coal-seam gas project, even as it awaits approval.

May 9, 2019

Companies

Qantas eyes record revenue

Celebratating 20 years of private airport ownership

Qantas says it’s on course for a record revenue despite a late Easter trimming first-quarter passenger numbers.

May 9, 2019

Companies

Homes slump hits cement maker

Adelaide Brighton Cement operations manager Vince Aurora (r) with company electrician Mark Bassett and boiler maker Ryan Ogden at the Birkenhead plant.

Adelaide Brighton says annual profit will fall by up to 15pc amid softening demand for building materials.

May 9, 2019

Companies

FIRB hurdle puts onus on TPG

The first 5G Optus tower is seen in the suburb of Dickson in Canberra., Thursday, January 31, 2019. (AAP Image/Mick Tsikas) NO ARCHIVING

The fact that the proposed TPG-Vodafone tie up needs FIRB approval makes its ACCC battle harder.

May 9, 2019

Media

Cost cutting looms for HT&E

APN CEO Ciaran Davis

Media company HT&E’s revenue fell five per cent in the first quarter and it now plans cost savings.

May 9, 2019

Mining & Energy

Pulling wood over our eyes

Mandatory Credit: Photo By Richard Crampton / Rex Features Drax Power Station which puts more C02 into the atmosphere than every car in England combined. It burns 220 tonnes of coal everyday. Britain. DRAX POWER STATION, SELBY, YORKSHIRE, ENGLAND, BRITAIN - 2006 CARBON DIOXIDE EMISSION EMISSIONS ENERGY ELECTRICITY ENVIRONMENT ENVIRONMENTAL GLOBAL WARMING EFFECT HAZARDOUS INDUSTRIAL CHIMNEY SMOKE CHIMNEYS POLLUTING POLLUTION

Australia is ripe to be taken in by Europe and America’s wood-fired carbon fakery.

May 9, 2019

News

Rideshares ‘clog traffic’

Lyft driver Billy Thach drives in San Francisco on the day of the Lyft IPO. PHOTO: JASON HENRY FOR THE WALL STREET JOURNAL

Hopes that services like Uber could help ease road congestion are undermined by a US study.

May 9, 2019

Trading Day

Telstra leads ASX bounce

Customers and assistants are seen in a Telstra store in Sydney, Monday, July 8, 2018. Investors hoping to maintain their dividend payments from Telstra might be in for a shock, with Plato Investment Management managing director Don Hanson warning the rivers of gold are over for the telecommunications company. (AAP Image/Mick Tsikas) NO ARCHIVING

Stocks have recovered from an early blip, edging higher with Telstra in the lead.

26 minutes ago
May 9, 2019

DataRoom

Far, Cairn push for oilfield sale

dollar generic for business yarns

Global advisory firm Jefferies has been hired by Far and Cairn Energy to sell a stake in the $4.27bn SNE development in Senegal.

May 9, 2019

Property

Grocon, Lendlease tower battle

South West Metro

The contest to develop two major towers above the planned Pitt Street metro station is coming to a head.

May 9, 2019

Property

How jobs have changed

Workers listen to an address by Queensland Premier Annastacia Palaszczuk as she visits the Downer Rail workshop in Maryborough, Monday, September 11, 2017. The Palaszczuk Government has today confirmed a $70 million pipeline of projects for Downer EDIÕs Maryborough workshop. (AAP Image/Dan Peled) NO ARCHIVING

The Australian workforce has shifted away from middle skill jobs to highly skilled jobs.

May 9, 2019

Property

Libs win by preferences

SKY NEWS / MANLY DAILY WARRINGAH DEBATE

In every state except Tasmania, the places where people want to buy are Liberal-held seats.

May 9, 2019

Property

Off the plan buyers caught short

Construction workers in house. Building. Construction. Generic image.

Buying an apartment ‘off the plan’ while the housing market was racing along probably sounded like a good idea at the time.

May 9, 2019

Property

Centennial pays $35m for site

Supplied Editorial Centennial Property Group has bought Brooklyn Distribution Park for about $35 million

Funds manager Centennial Industrial & Logistics has snapped up an industrial park in Melbourne’s west

May 9, 2019

Property

Arrow targets Zenith building

The Zenith Centre Tower B

Investment manager Arrow Capital Partners is circling The Zenith building on Sydney’s north shore.

May 9, 2019

Business

China play a risky business

Voters tend to presume that Australia’s 27 years of uninterrupted economic growth will continue almost independent of government policy

May 9, 2019

Property

15,000 agency jobs lost

Worried estate agent

More than 15,000 real estate agents have left the industry since the market peaked in 2017.

May 9, 2019

Property

Star’s wow-factor foyer

The Star Sydney has taken its commitment to innovation and entertainment to new heights, with its $65 million transformation of the property’s Pyrmont entrance, with the inclusion of a brand-new bar, luxury retailers and a revolutionary arrival experience. Today unveiling the world’s first permanent indoor light and interactive digital art foyer in an integrated resort – the ‘Grand Foyer’ is part light, part water and part digital art gallery.

The Star Sydney has spent $65 million to redesign its Pyrmont entrance.

May 9, 2019

Property

GPT eyes $225m worth of assets

Bob Johnston

GPT has stepped up its hunt for logistics assets, with more than $225m worth of deals in Sydney in the works.

May 9, 2019

Property

Brookfield seeks tower partner

Brookfield Building

Brookfield has stepped up its search for an investment partner to back its $800m development of a new Chevron headquarters.

Business Review Editor

Eric Johnston joined The Australian in July 2014. Previously he was the business editor of The Sydney Morning Herald and The Age, overseeing award-winning business coverage and driving investigative reporting. He also has worked at The AFR and as a correspondent with Dow Jones, where his stories appeared in The Wall Street Journal.

Business Review Editor

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