'Betrayed': Hayne casualties in limbo a year later
A year after the sensational inquiry carved through the executive ranks of the biggest financial services companies, many of those tarnished by the inquiry remain in limbo.
ASX futures flat, China data awaited
Australian shares are poised to open little changed, even as Wall St sinks, as investors rethink their outlook for China and global growth.
China financier sends receivers to Sargon, Trimantium entities
Sargon Capital, whose board included big players such as ex-ALP Senator Stephen Conroy, struggled to raise funds in the past year and is now in receivership.
Coronavirus outbreak an 'international emergency': WHO
The World Health Organisation increased the number of confirmed cases of the virus by more than a quarter in its latest situation report.
The four things Hayne changed
A year since Commissioner Kenneth Hayne's bombshell, what's its legacy? Now the dust has settled, bankers and their advisers can see the impact it will have on corporate governance.
Scott Morrison strikes $2b gas deal with NSW
NSW will deliver more gas to the east coast market, probably through the Narrabri project, in return for $960 million in federal funding for energy projects.
- Exclusive
- Renewables
Renewables investment crashes on regulatory risk, policy uncertainty
Investment in renewable energy projects collapsed by more than 50 per cent last year, according to fresh data that counters Scott Morrison's claim of "record" spending in the area.
Companies
Atlassian is more profitable than its accounts suggest
Atlassian issued an unusual debt security in 2018, which means its net income does not reflect the true profitability of the business.
Embattled Baillieu exec Macaw 'negotiating exit'
Sources say one of the biggest dealmakers at the mid-size broker is leaving because of the reputation damage caused by an elaborate corporate sting.
Water shortage threatens miners' NSW growth plans
Mining companies are plotting growth projects that will increase their water needs at a time when they are struggling to meet their existing demand.
Telstra follows Rio in scrapping reverse factoring
Telstra has followed Rio Tinto in scrapping its controversial use of reverse factoring, following months of intense media scrutiny in the Financial Review.
Klarna ditches late fees in buy-now-pay-later play
The Swedish unicorn claims a number of differentiators as it enters the pay-by-instalment space.
ANZ asks if regulators colluded to protect JPMorgan
ASIC slammed the "very serious" allegations, including that of abuse of process, as "outrageous" at the latest round of hearings in the cartel case.
Banks warn against 'knee-jerk' responses to Hayne
The banking industry lobby wants Treasury to ensure consultation on Hayne legislation is thorough and robust, to avoid "knee-jerk" responses that could create a "ripple effect across the entire economy".
Markets
- Exclusive
- Activist shareholders
Treasury Wine Estates faces looming shareholder class action
The winemaker is staring down a possible class action from angry shareholders after more than $3 billion was wiped from its share price.
Dalio hedging bets to counter unknown of coronavirus
The billionaire founder of hedge fund Bridgewater Associates says "the best investment strategy is to be smartly diversified".
Deutsche Bank reports $8.7 billion loss for all of 2019
The Frankfurt-based bank, once Europe's largest by assets, is in the midst of a desperate attempt to recover from years of scandal and mismanagement.
Saudis open talks on possible February OPEC+ meeting
A swift slide in oil prices has alarmed Riyadh, with concern heightening about Chinese demand amid the coronavirus outbreak.
Bank of England keeps main interest rate steady
Governor Mark Carney said encouraging signs for the UK economy needed to be borne out in hard economic data.
Opinion
Impeachment weaponised and compromised
President Trump's guilt and acquittal are both certain. But the process still matters a great deal to the future of US politics.
Editorial
Kenneth Hayne's hits and misses
The revelations from the royal commission exploded in an avalanche of mud across the banking sector. The costs of that are still adding up, but not always in the way suggested by Kenneth Hayne.
Columnist
How Beijing's silence helped spread the virus
Beijing's centralised control of information stopped local officials in Wuhan from sounding the alarm sooner and made it harder to control the epidemic, writes Richard McGregor.
Columnist
Goldman Sachs: When breaking up is hard to do
Data shows the firm's highly profitable businesses are heavily subsidising nascent ones. A clean solution would be for it to break itself up.
Contributor
How Republicans came to deify the presidency
When US Republicans vote to acquit Donald Trump it will be the culmination of half a century of conservative thinking towards an all-powerful presidency,
Contributor
Profit or ethics? Macquarie's European dilemma
Would you flog a richly profitable financial scheme that was blessed by lawyers but deprived governments of tens of billions of dollars in tax revenues?
Columnist
Politics
Australia-UK free trade deal by end of year: Birmingham
Agriculture and services, especially in financial and insurance, look to be the biggest winners from a new post-Brexit trade agreement.
Barty party crash leaves Open exposed
Ash Barty losing was the last thing Australian Open organisers needed after a long list of challenges including smoke, heat, rain, climate protesters, transport strikes, coronavirus and losing other big names.
- Analysis
- Cash economy
Big bank theory against cash gets senatorial encouragement
A fight by far-right groups to defeat a ban on cash purchases over $10,000 is gaining political support.
Aussies stuck awaiting China OK for virus rescue flight
Australia is pushing ahead with plans to evacuate hundreds of citizens trapped in the epicentre of the deadly coronavirus in China – including a $1000 fee per person – but Beijing is yet to approve the flight.
Boost government spending by $16 billion: ACOSS
The nation's peak welfare body says jobs and wage growth and climate change mitigation should top priorities for the federal budget
SPONSORED
World
US economy misses Trump's growth target
The US economy expanded at a 2.3 per cent pace last year, its slowest since 2016 and lower than the 2.9 per cent reached in 2018.
Britain skirts US ire as Pompeo softens on Huawei
The US Secretary of State says post-Brexit Britain will be 'at the front of the line' for an FTA, allaying London's fears of retribution over Huawei.
- Opinion
- Trump's White House
Scaramucci welcomes Bolton to life under the bus
The way to create more power is by giving it away and empowering staff to achieve your goals. But Trump is incapable of this.
Trump defence: anything goes if re-election is good for US
Donald Trump's legal team told his impeachment trial that if the President believes his election is for the good of the American people he can essentially do whatever he wants.
US expands troop, fighter jet presence at Saudi base
The return of US forces to Prince Sultan Air Base is a sign of America's decision to beef up troops in the Middle East in response to threats from Iran.
Property
Catalano's Acquire partners with regional ACM papers to sell homes
The former Domain boss extends his new residential marketing platform on the back of his newspapers.
Billionaire seeks partner to finish $88b city
Super funds, sovereign wealth funds, pension and Asian developers are all expected to be courted as partners for billionaire developer Maha Sinnathamby.
Starwood revives takeover bid for Australian Unity fund
The all-cash offer at $2.98 per unit comes more than a year after Starwood's first effort to buy out the Australian Unity managed fund fell flat.
- Exclusive
- Commercial real estate
Petrol king buys Brisbane office building for $85m
The acquisition is part of the Andrianakos family's transition from a petrol retailer to a major property investor.
- Exclusive
- Commercial real estate
AsheMorgan eyes up World Trade Centre
The prospective transaction, if completed, will represent the first major deal in the Melbourne market this year.
Wealth
Can I buy a car using my SMSF?
You'll face penalties if you use your retirement savings to buy a personal-use asset, writes John Wasiliev who answers your questions on super.
Fugitive billionaire selling $38m Hockney
Hong Kong billionaire Joseph Lau will be the seller of one of the most expensive artworks at the year's first major auction.
Why Sandiaga Uno will keep cashing in his Saratoga wealth
The private equity whiz-kid turned politician now describes himself as a social entrepreneur but is still talking politics.
Technology
Brisbane eatery takes on Uber Eats at its own game
Pawpaw Cafe's owners signed up enthusiastically to Uber Eats when it launched, but high margins and a lack of control over their own customer data led them to build their own version of the app.
It’s just a blip, says Nearmap CEO, as shares dive on downgrade
Rob Newman says the 'great Aussie tech company's' fundamentals are still strong.
Tesla beats profit estimates, expects strong 2020 production
The car maker expected "positive quarterly free cash flow going forward" as it ramps output of new products.
Work & Careers
Fair Work to rule in worker privacy case involving swipe-in app
The CFMEU says workers should be allowed to refuse to use an employer's sign-in system when the data can be used for marketing purposes.
DP World accuses union of seeking unlawful ban on automation
DP World has told the Federal Court the maritime union is taking unlawful industrial action in pursuit of prohibited bans on automation and outsourcing.
Life & Luxury
- Opinion
- Review
Two three-letter words for LG's Styler: ick and ish
When it comes to refreshing already worn clothes, it works! When it comes to the other stuff, well, it sort of works … ish.
The grand plans for the Powerhouse
Few cultural institutions in Australia have been as controversial as the high-profile museum project in Parramatta.
Themed auctions tell stories of aesthetic evolution
Sale events with a common design denominator are capturing moments in culture – and the attention of collectors.
The market for fake art prints is surging
Art experts warn that technological advances have made faking prints easier than ever, and keeping track of them virtually impossible.
The benefactors who champion art in death as in life
The latest crop of national art awards reflects a wider trend in the ways people are choosing to take control of their legacy.
