- Live
- Markets Live
ASX advances; Coles rises on earnings upgrade
Global stocks, commodities rally with reports a coronavirus cure is close; Nick Scali beats forecasts; Dexus lifts distribution guidance; December retail figures ahead.
Trump acquitted in impeachment trial
Senators have aquitted Donald Trump of an historic abuse of power charge, defying a welter of evidence that was dismissed by all but a single Republican as insufficient to throw him from office.
- Opinion
- Chanticleer
Investment giant warns on US recession signals
Bob Baur of fund manager Principal Global Investors says the global economy will grow nicely in 2020. But he's worried about the year after.
- Opinion
- Chanticleer
No reason for virus panic - yet
Predicting the economic impact of the coronavirus is made all the more difficult by the impact of quarantines and other interventions. That has not stopped speculation about what will happen next, writes Chanticleer.
Coles ups guidance after strong Christmas food sales
Coles has upgraded profit guidance for the December-half after stronger than expected food sales before Christmas.
Woolworths sets up VC arm to target growth
The supermarket giant's venture capital fund, W23, is eyeing investments in "disruptive innovation".
- Exclusive
- Hayne fallout
Super funds say new laws are overkill
The Federal Government's plan to treat super funds like banks is unnecessary and may make matters worse for consumers.
Companies
Mirvac boosts revenue, dividend as housing market improves
The developer reported a more balanced settlement picture with housing sales proceeds increasing in the first half of year.
Dexus lifts guidance as office rents rise
There is more upside though as old leases expire and rents are set higher in Sydney and Melbourne, where vacancy rates in both CBDs are below 4 per cent.
Nick Scali profit falls 16pc as sales, margins come under pressure
Net profit fell 15.7 per cent to $21.4 million in the December-half but beat guidance after a brief up-tick in trading in the December quarter.
Consumers join retailers in war on Afterpay
Consumer groups argue the "no surcharge" restrictions imposed by Afterpay are increasing the cost of goods for all shoppers. They want the RBA to regulate the red-hot "buy now, pay later" sector.
CIMIC defends tardy supplier payments
Telstra and Rio Tinto will pay people faster, but CIMIC claims its suppliers don't mind waiting months for bill payments.
'Inflammatory' APRA is ignorant, say insurers
Health insurers and private hospitals have accused the prudential regulator of making "ill-informed and inflammatory" comments in a choreographed attack.
Retailer supply chain fears as coronavirus threat grows
Retailers are developing contingency plans for sourcing stock from China as factory closures and travel restrictions threaten to disrupt supply chains.
Markets
Global markets rally on virus cure reports
Australian shares are poised to open higher, amid reports of a cure for the coronavirus. The WHO, though, said there were 'no proven' drugs for the virus.
- Analysis
- Monetary policy
How not to annoy RBA boss Philip Lowe
If you happen to strike up a conversation with RBA boss Philip Lowe, don't annoy him by saying that interest rate cuts aren't working.
Tesla tumbles as coronavirus weighs on Shanghai deliveries
Car deliveries from Tesla's new Shanghai plant would be temporarily delayed, triggering a near 20pc drop in the stock.
Ackman sells Starbucks stake after Pershing makes 73pc return
While optimistic about Starbucks' business, the hedge fund manager sees "more modest" returns ahead.
Oil prices jumps after reports of coronavirus drug breakthrough
Prices also were bolstered by news that OPEC and its allies were considering additional output cuts to offset a potential drop in global demand.
Opinion
How zombies ate the Republican Party's soul
A result of decades of zombification is a Republican caucus that consists entirely of soulless opportunists (and no, the fact that some of them like to quote Scripture doesn't change that fact).
Contributor
Funny money risks no defence for 'black swans'
Short-term monetary or fiscal stimulus won’t reduce Australia’s China risk. A pro-market structural reform agenda is needed to help China-proof our prosperity.
Editorial
Investment appetite needs stimulating
Rate cuts won’t transform the economy. But energy certainty and tax reform could encourage business to risk investing in future growth.
Contributor
Morrison's new marketing challenge: climate change
Labor isn’t the only party with a Queensland problem. Coalition MPs who champion the coal industry are back in force in Canberra.
Columnist
Faster supplier payments would boost economy
Rio Tinto and Telstra shouldn't just ditch reverse factoring. They should set the fair and reasonable standard for big business by paying invoices in 30 days.
Contributor
What Morrison should learn from China's bad air days
Poor air quality was the catalyst for climate action in China, a trend the Morrison government should be wary of.
National Affairs Correspondent
Politics
Fire royal commission accepts the role of climate change: PM
The royal commission into the bushfires will operate on the assumption that the scale and severity of the blazes was fuelled by climate change, Scott Morrison says.
- Analysis
- Parliament House
In Parliament, marginal seat koalas get year underway
Anthony Albanese and crew looked as if they'd been preparing for the year's first question time for weeks, masterfully linking the two big issues of 'black summer'.
Centre Alliance suspends support for union-busting bill
The South Australian-based Centre Alliance is trying to pressure the government over the maintenance contract for the Collins Class submarines.
Australian ports beef up virus protections
Extra coronavirus protections at Australian ports could add slight delays to trade of Australian iron ore and coal.
- Exclusive
- Climate policy
Judge warns of tide of climate cases
Once Australia's most senior judge, Robert French says Australia is in the realm of "a frightening new bushfire paradigm" and predicts an increase in landmark legal cases, as seen overseas.
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World
Romney says Trump must be thrown from office
An emotional Mitt Romney has denied Republicans a clean-sweep in the pending acquittal of Donald Trump.
The snub that trumped the State of the Union
With Donald Trump set to be acquitted, the address will be remembered for a president refusing to shake the Speaker's hand and her tearing up his speech.
Fears more than 200 Australians exposed to virus on cruise ship
Two Australians have been diagnosed with coronavirus and more than 200 others may have been exposed to the deadly virus on board a Japan cruise.
The $1.3trn cost of leaving energy underground
Vast reserves of oil, gas and coal may never be extracted because doing so would intensify global warming, writes Alan Livsey in London.
China tightens controls as virus death toll hits 492
Scientists in China cannot see a turning point in efforts to contain the coronavirus as the death toll hits 492. Australian experts note the death rate is comparatively low.
Property
'It's crazy': Cashed-up but nothing to buy
Homebuyers are getting loans but are then finding there's nothing to spend it on. "People are getting desperate. It's crazy."
Tight Sydney, Melbourne office markets send tenants to the 'burbs
While both the CBD and non-CBD markets around the country recorded positive tenant demand over the last six months, the non-CBD sector recorded its strongest demand in eight years.
Property sector's donations to political parties
Required disclosures only give a small part of the picture of donations - and they don't even show where the money actually goes.
Sydney CBD's tight market forces tenants elsewhere
The city centre's office market has recorded the greatest negative demand of Australia's capital cities in the last six months.
Pub trust to take advantage of 'materially' cheaper bonds
Cheaper bond pricing and a boost to rents from rent reviews will reduce the amount of ALE's distribution funded from cash reserves and debt.
Wealth
Small business tricks to growing your retirement savings
There are tax exemptions when you sell and contribute some of the proceeds, writes John Wasiliev, who answers your questions on superannuation.
Tax-transfer reforms contributing to rising income inequality
Changes in Australia have seen an almost 10 per cent increase in a commonly used measure of income inequality.
- Opinion
- SMSFs
Insurance tips when setting up an SMSF
There are three ways to check whether you should keep your old fund running just for the cover.
Technology
Lagging Australia should follow UK's electric vehicle drive
Australia needs to encourage the uptake of electric vehicles or it will be left behind in the race to achieve net zero emissions by 2050, according to the peak industry body
Toll refuses to pay hackers' ransom, works to restore crippled systems
Logistics company Toll Group has identified the virus used by hackers to cripple its systems, and is still working with authorities to get back up and running.
Disney to leave Foxtel as streaming wars heat up
It follows the removal of the Disney Movie channel, which included Disney Animation, Pixar, Marvel and most Lucasfilm productions from Foxtel in November last year.
Work & Careers
- Opinion
- Chook Roast
What all leaders can learn from the bushfires
The bushfires have highlighted what Australians expect from their leaders in a crisis – be present and authentic. Some excelled, others were found lacking.
PwC, KPMG, EY swung behind Labor ahead of federal election
The big four consulting firms have made political donations worth more than $4 million in the six years to 2019.
Life & Luxury
The Washington hotel in a bank with a vaulted history
The Riggs Washington DC was once a legendary financial institution where US leaders stashed their cash. Now it's rich in restored grandeur.
Death and divorce to pump $1.5 billion into 2020 art auctions
The death of Don Marron and bitter divorce of octogenarians Harry and Linda Macklowe are bringing huge collections to market. Is it too much?
- Opinion
- Productivity
How to make the most of your workday
Working in tune with your body clock, rather than the wall clock, could transform your productivity.
How to buy your way into nobility
Germany has an unusually large aristocracy, providing a lucrative market for aristocratic titles. For just over $132,000, you too can be a count or countess.
Perth's new museum unveiled
The New Museum for Western Australia brings together the old and new in a way that takes repurposing heritage buildings to new heights.
