- Opinion
- Chanticleer
Westpac's low growth future
In opting to go to shareholders for cash to maintain balance sheet strength, the Westpac board has gambled on the Reserve Bank of New Zealand (RBNZ) and AUSTRAC not hitting the bank with bigger than expected demands that could eat into capital.
- Live
- Markets Live
Banks weigh on ASX gains; JB Hi-Fi hit by poor retail data
Banks are down as much 3pc; no sign of tax-return bump in retail sales; CSR bull run continues despite challenging conditions
Banks that escaped Hayne wrath should be less regulated, says CEO
Smaller banks came out of the royal commission well and should be trusted with less compliance burdens in order to increase competition in the sector.
- Exclusive
- Start-ups
Expert360's big career move: $500m Hudson deal fuels global plans
Bridget Loudon's online jobs platform will add $500m worth of work to its platform after signing a deal with the recruitment giant that was three years in the making.
AGL champions clean energy transition
Electricity suppliers are grappling with fundamental changes sweeping across the sector but uncertainty over intervention and emissions policy still clouds the outlook.
- Opinion
- Chanticleer
Westpac's digital push reflects banking sector's big tech problem
The shift into "banking as a service" is an admission that Westpac's existing tech platform will always struggle to keep up with changing customer preferences.
- Exclusive
- Funding
'Xero of law' raises funds for Asia push
Lawpath has created an online platform that lets smaller companies access legal services and plans to use a fresh funding round to target regional growth.
Companies
Westpac to raise $2.5b, profit slides 15pc
Westpac has reported a 15 per cent fall in its cash profit to $6.849 billion, cut its second half dividend to 80¢ and will raise $2.5 billion in capital.
Mitchell and Seven sealed Aus Open deal behind closed doors, says ASIC
Media mogul Harold Mitchell and Seven Network director Bruce McWilliam privately agreed to give Seven exclusive broadcasting rights to the 2013 Australian Open in 2012, a court has heard.
Engineer Cardno signs sixth permanent CEO in five years
Departure comes despite company documents recently saying Ian Ball would stay on in the role.
Woolworths shareholders urged to vote in favour of drinks restructure
Woolworths directors say the advantages of the restructure of its drinks and hotel businesses outweigh the disadvantages.
AFR stands out with 17pc audience jump
The Australian Financial Review is again the standout performer for newspaper title readership, posting a 17 per cent increase in combined print and digital audience.
Independence in $312m takeover bid for rival nickel player
Peter Bradford-led nickel miner targets Panoramic Resources with all scrip bid.
- Exclusive
- Start-ups
Tinder co-founders swipe right on men's health start-up
Two of the dating app's founders were introduced to the young entrepreneurs behind MOSH by mutual friends. Six months and a lunch later, they're making a commitment to their first investment in Australia.
Markets
US mortgages a home for yield hunters
The weeding out of weaker borrowers during the financial crisis and stricter regulations make US mortgages an appealing yield play.
Retail sales lower than expected
Retail sales in the month of September rose 0.2 per cent in seasonally adjusted terms, less than half the rate economists had expected.
A value manager's test of faith rewarded
Investors Mutual's Simon Conn would rather own Pact Group, which trades at less than half the multiple of the market's industrial stocks, than lofty WiseTech.
- Opinion
- Hedge funds
How Jim Simons built the world's most lucrative black box
New book The Man Who Solved the Market details how a mathematics prodigy created the greatest money-making machine in Wall Street history.
- Opinion
- Monetary policy
The bulls are back but feeling fragile
Global stocks and bonds are telegraphing a global recovery, but the fragile state of the economy means we may not have seen the last of central bank rate cuts.
Opinion
Big Tech has moved from offering utopia to selling dystopia
After 40 years of the private sector in ascendancy, the public realm is closing in on dominant companies.
Columnist
The nightmare haunting Aussie banks
Bank bosses agree that they're facing a "challenging" environment. But their own stress tests show that their problems could be much, much worse.
Columnist
Australia has a lot at stake in UK's December election
A Corbyn government would mean fewer economic opportunities and work against the security of the West.
Columnist
Tap family home wealth to fix aged care crisis
The royal commission has exposed the problems in aged care. But the answer is not to look to government for more funding.
Editorial
Three reforms to make us a global low-carbon superpower
No other country has the new energy opportunities that we do. And changes needed are consistent with government policy.
Contributor
'Tis the season to slash green tape
We should protect the environment, but business must be freed from laws that strangle the economy.
Contributor
Politics
ANZ joins government's $500m SME bank
The government and big banks will jointly invest into fast growing small firms after Treasurer Josh Frydenberg convinced bank bosses to join a $500m fund.
Business baulks at $10,000 cash limit plan
Fines of $25,000 and jail sentences of up to two years will target business owners taking large cash payments from January.
High-skilled visa scheme promises residency within weeks
A new high-skilled migration scheme will offer fast-tracked residency to 5000 people a year and target high-income earners with expertise in one of seven fields.
- Exclusive
- The Huang Files
Sydney real estate agent under scrutiny over 4 trophy homes
As property prices rise once again, the federal government and real estate agents are under pressure to better enforce foreign buying.
Huge trade deal could go ahead without India
The world's largest trade deal, the Regional Comprehensive Economic Partnership, could go ahead anyway after India baulked at the last moment.
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World
KPMG to cull a tenth of its UK partners
The one-off cull of partners comes as the accountant dramatically scales back its costs and restructures its operating model as it tries to recover from a reputational crisis and prepare for regulatory changes to the accounting sector.
‘OK Boomer’ marks the end of friendly generational relations
Now it’s war: Generation Z has finally snapped over climate change and financial inequality.
US and China edge closer to a trade deal
Trade Minister Simon Birmingham and Australian CEOs visit Shanghai this week where Xi Jinping will be selling the message that China is open for business.
The European Union is in crisis mode
The Brexit drama has overshadowed the EU's spiralling crisis: a paralysed bureaucracy, a budget stand-off, and internecine struggles breaking out everywhere.
- Opinion
- World election
Boris Johnson ahead in polls but his team is nervous
"None of the above" is always a tempting choice at British elections, but this year perhaps more than ever.
Property
Charter Hall buys John Holland's Glasshouse in Macquarie Park
The Charter Hall Direct PFA Fund and Long WALE REIT have together acquired a new office building in Macquarie Park for $331.3 million.
House prices could reach 2017 peak
A strong preliminary clearance rate in Sydney of 79.4 per cent shows prices are still rising.
Buyers change their minds on Greenland luxury apartments
The Chinese-backed developer says it is re-selling off-the-plan units in the landmark Sydney tower after 11 contract recissions, though sources said the real number was more like 50.
Major players vie for East Melbourne office project
At stake is a $300 million office project at 200 Victoria Parade put together by developers Golden Age and Time & Place.
Ceres Ag may have been insolvent since mid-2016
The directors of Ceres Agriculture could be pursued by unsecured creditors for around $15 million including $10 million of voidable transactions.
Wealth
- Opinion
- SMSFs
The true value of SMSFs is control
Many believe choosing their own investments will put them ahead, but in most cases this goes untested until there is a big market event.
- Opinion
- Big four
Time to reassess your love affair with the big banks
With the 30-year bull run for the big four looking shaky, investors need to take a closer look at the risks of having big holdings.
- Opinion
- Investing
Deglobalisation climbs to the top of investor worry list
We’ve already hit peak globalisation, and the focus is now on whether the world’s markets will stabilise, writes Katrina King of QIC.
Technology
- Opinion
- Disruption
Facebook pile-on not hurting the numbers
Despite growing regulatory pressure, Facebook’s revenue growth trajectory looks secure.
- Opinion
- Disruption
Big Tech has moved from offering utopia to selling dystopia
After 40 years of the private sector in ascendancy, the public realm is closing in on dominant companies.
How Bumble creates buzz
The networking app has amassed 3 million Australian users since its 2017 launch.
Work & Careers
- Exclusive
- Retail
How two teens made a $20m business
Anthony Nappa started OZ Hair & Beauty to earn money while he was in university. Now it's on track to do $25 million in revenue in the 2020 financial year.
- Opinion
- Workplace
Personal style helps shape your career
Forget the rules about what to wear in the office. Think about how you want to be seen, then own it.
Life & Luxury
The oil chief who loves a monthly haggis hit
A 45-minute walk to the office and the occasional weekend treat of Scottish fare keep Santos CEO Kevin Gallagher fighting fit.
What inspired Sensis exec Will Clarke to put pedal to the metal
The head of corporate communications recalls a defining moment after the 1976 Olympics. The rest is history.
Sydney Airport marks 100 years with lashings of luxury
It’s taken 18 months and millions of dollars, but the upscaled international departure hall is ready to impress the most discerning of travellers.
Bizoids and MPs race for cover in soaked Birdcage
As the rain poured down on a quieter-than-usual Birdcage enclosure on Derby Day, the real action was indoors.
Musk fights Top Gear over video of Porsche beating Tesla
Another YouTube video, made by the drag-racing website DragTimes, speculated that Top Gear had not turned on the Model S’ “Ludicrous Plus” feature.
