- Live
- Markets Live
ASX to fall; News Corp reports $US1.55b loss; Village inks BGH deal
The Australian sharemarket is expected to edge lower despite gains on Wall Street overnight. The Nasdaq closed above 11,000 for the first time. Gold hit a record $US2069.79 an ounce. The RBA's Statement on Monetary Policy ahead. REA Group's full year profit falls 9 per cent to $268.9 million.
$15b JobKeeper blowout as Victoria hammers economy
The cost of the JobKeeper wage subsidy will increase by more than $15 billion due to the hammer blow to business caused by the Victorian crisis.
Coles sees spike in meat sales
Coles sees spike in meat sales; Victoria sends JobKeeper cost over $100b; parties, young adults fuel California's crisis. Follow our live coronavirus updates here.
Andrews eases business lockdown after CEO revolt
The Victorian Andrews government has unveiled a raft of concessions on restrictions for business after confusion for sectors such as flower farms and construction.
- Opinion
- Chanticleer
Former Mac banker's power play
A former banker who ran Macquarie Capital's global resources operation is now plugged into an energy start-up which claims it can save every electricity consumer about $40 a year.
High stakes in race to High Court bench
The Morrison government will be hoping it can reshape the High Court with its next two appointments. The Australian Financial Review reveals five leading candidates and two wild cards.
EY drops requirement for partners to retire at 60
The move comes amid a landmark case alleging that Deloitte Australia's mandatory retirement age of 62 breaches age discrimination law.
CORONAVIRUS PANDEMIC
Wealthy New Yorkers are buying second apartments to use as offices
A second unit acts as a workspace to create that needed separation – and a getaway after spending too much time with their loved ones.
US deaths seen near 300,000 by December 1
The number of Americans expected to die from the virus is poised to surge, according to the Institute of Health Metrics and Evaluation.
SA orders 1100 students to self-isolate in new COVID-19 scare
SA authorities have ordered another 70 people into quarantine at a 'medi-hotel' after a new COVID-19 case connected to Thebarton Senior College in Adelaide.
Stop attacking us and focus on the virus, WHO boss asks Trump
Tedros Adhanom says the absence of American leadership is a greater blow to the World Health Organisation than the loss of US funding.
What Big Tech wants out of the pandemic
With governments overwhelmed, Google, Apple, Facebook, Amazon and Microsoft are only too happy to step in and lend a hand. But at what cost?
Companies
News Corp earnings take a 19pc COVID-19 hit
News Corp has suffered a major hit to earnings with the COVID-19 pandemic dragging down its full-year result across all areas.
- Opinion
- Chanticleer
Walsh told Rio not to mine Juukan caves
Former Rio chief executive Sam Walsh says he issued instructions in 2013 not to mine the ancient Indigenous site, but it is missing from the company's explanation of what happened.
AMP Australia boss exits amid cultural overhaul
Senior AMP staff told their employees on Thursday that Mr Wade was asked to address an “internal matter” and that he tendered his resignation.
Early release super's retirement hit exaggerated: Grattan
Australians would enjoy a comfortable retirement even if they raided the full $20,000 available under controversial early access scheme, new modelling suggests.
- Exclusive
- Tax avoidance
GE settled ATO audit for $273m in UK 'tax fraud' case
Before General Electric was hit by a $US1 billion tax demand in the UK in alleged fraud case, it quietly settled in Australia.
CEO pay squeezed, but millions still flowing
One chief executive of an educational outfit still reaped more than $35 million in pre-pandemic conditions, according to new ACSI research.
Wilson LIC pumps up dividend for mums and dads
Charity begins at home as the LICs founded by Geoff Wilson in 2014 ramp up the distribution for loyal shareholders.
Markets
- Opinion
- Sharemarket
Investing lessons from the Apple stock split
The pending 4-for-1 stock split offers a window into the differences between the Dow Jones and the S&P 500.
What happened in markets overnight
Australian shares appear set for a modest opening loss. In New York, Facebook and Apple leapt. RBA policy statement ahead.
Gold tops $US2055 as monetary finance enters fray
Gold reset record highs on Thursday after the US Treasury said it would seek a record $US112 billion in new debt.
Cash-rich ELMO targets growth through acquisitions
The Sydney-based workplace software company says it's focused on growth before profitability given the market opportunity ahead.
ASX rises 0.7pc, buoyed by vaccine, stimulus hopes
The Australian sharemarket advanced on Thursday, with investor sentiment buoyed by fresh vaccine hopes and better than expected earnings results.
Opinion
Morrison left looking like bystander at COVID-19 car crash
As the Victorian disaster unfolds, dashing economic forecasts, all the Prime Minister can do is write bigger cheques.
Political editor
Investors recoil as AMP crisis shows no sign of abating
Investors are worried about what's going on behind the scenes at AMP following the abrupt departure of one of AMP boss Francesco De Ferrari's key recruits.
Columnist
Learning to live with the Andrews government
Living with the virus in Victoria means living with the decisions of the Andrews government. For businesses, that's a very messy affair.
Columnist
Australia's greatest governance fail
The Morrison government should call out the Andrews government's complete lack of coherent strategy for learning to live with the coronavirus.
Contributor
Victoria's failures can help us learn to get it right
The mistakes made in the state need to be taken on board in assessing whether Australia’s pandemic battle plan is still appropriate.
Editorial
A defeat for Donald Trump is not a defeat for autocracy
Trump is not losing this election because of his authoritarianism. If anything, it is through his laxity that he has forfeited public trust.
Contributor
Politics
Experts bemoan lack of detail in cyber strategy
Cyber security industry experts have welcomed the increased responsibilities on businesses to meet certain standards, but say doubts remain about skills and non-law enforcement funding.
Victoria crisis leads to longest recession since 1983
The national economy is likely to remain in recession to the end of September and shrink for a third consecutive quarter.
New laws in the pipeline to help ISPs block cyber threats
The government has also outlined how it will change laws to allow the potent Australian Signals Directorate to snoop on Australian criminals.
Australia pledges $2m in aid to Beirut recovery effort
Prime Minister Hassan Diab declared three days of mourning from Thursday, as countries around the world joined Australia in rallying to Lebanon's cause.
Barnaby Joyce's tell-all prudently invested
Joyce's latest parliamentary disclosures show the Sebastian Joyce Trust carries a portfolio heavily exposed to many of the ASX's hotshots.
SPONSORED
World
Warren Buffett's sister dies
The billionaire's philanthropist sibling sifted through the hundreds of letters her brother received each year from people who wrote pleas for aid. She was 92.
China sentences Canadian to death after drug trial
Canada's foreign ministry said in a statement that it was "profoundly concerned" by the sentence and called on China to grant clemency to Xu Weihong.
Britain faces long march to recovery, BoE says
The COVID-19 recession won't be as deep as feared, but the country won't get back to pre-pandemic GDP until the end of next year, says Britain's central bank.
New York attorney general sues NRA and seeks its closure
The suit accuses the NRA and four executives of "violating numerous state and federal laws" by enriching themselves, as well as their friends and families.
The day that hell came to Hiroshima
On its 75th anniversary, Jonathan Holmes recalls the first atomic bombing, its aftermath, and asks whether it could happen again.
Property
Pandemic cuts value of Westfield malls by 10pc
Shopping centre owner Scentre Group is the latest big retail property company to cut the value of its assets.
British 'green homes grant' spurs call for Australian copycat policy
The $3.65b scheme to retrofit houses recalls Kevin Rudd's infamous 'pink batts', but energy efficiency outfit BZE says Australia has learned lessons.
Aventus wins battle of big box landlords
The long-running dispute related to Home Consortium's plans to sub-lease a former Masters Home Improvement warehouse within an Aventus homemaker centre.
Perth $34m mall sale the largest for 2020
The 5353 square metre shopping centre sold to Adelaide-based Red Weath on a yield of 6.2 per cent.
Zombie apocalypse coming for Melbourne retailers
Stores kept alive by JobKeeper and rental concessions may have to put themselves into administration when support is withdrawn, say experts.
Wealth
- Opinion
- Investing
Sharemarket operator Euronext's deal-making rewards investors
Thanks to recent takeovers, post-trade revenue will be a key contributor.
- Opinion
- SMSFs 101
Three tips on handling SMSF assets if your relationship breaks down
Understanding the laws around self-managed superannuation funds is complicated, especially when divorce is involved, so get good advice from a professional.
Can my SMSF co-own an apartment?
Yes, your self-managed superannuation fund can (as long as you follow all the rules), writes John Wasiliev, who answers your questions on super.
Technology
BigCommerce founders bound for Rich List after sizzling IPO
From humble beginnings above a Rozelle phone shop, Eddie Machaalani and Mitchell Harper are set to burst on to the Financial Review Rich List with fortunes of about $650 million each.
Samsung launches pricey new Note and foldable phone
The Z Fold 2 has a 6.2-inch screen when folded to provide a full smartphone experience even when it is closed - but the Note20 Ultra's price is 'eye-watering'.
- Exclusive
- Healthcare
Start-up behind Theranos-like machine comes to Australia
Sight Diagnostics is applying artificial intelligence and machine vision technology to blood tests, achieving what Silicon Valley failure Theranos could not.
Work & Careers
- Boss
- Workplace
Companies take big steps to help support Melbourne staff
PwC is considering a program where Melbourne employees can locate a colleague who lives within a 5km radius so they can go for a walk together.
- Opinion
- First Person Pandemic
What keeps this Melbourne business owner awake at night
Staff at Hamilton Wealth Partners run video debates at lunchtime and weekly quiz nights to stay connected, but supporting them at home remains a challenge.
Life & Luxury
Hard seltzers find their mark with the wellness generation
But this not-so-young wine hack is unimpressed.
- Analysis
- Cinema
Will Disney's online punt on Mulan pay off?
Depending on who you ask, Walt Disney's decision to release its next big film Mulan online either guarantees the movie will lose money or could be a smart way to potentially break even.
Online gallery Curatorial+Co defies the times to go physical
I just want to do my own thing, curator and founder Sophie Vander says of her new 'anti-gallery' in Sydney's Redfern.
Bentley reaches for the heavens with new Flying Spur
Sports sedans don’t come much bigger than the luxe marque's new flagship, nor much more expensive.
Airwallex co-founder's six months of no travel
For Lucy Liu, who has been grounded in China since February, even her daughter's 'terrible twos' have an upside.
