NSW Health made 'serious mistakes'
The inquiry into the Ruby Princess has found NSW Health made a serious error in allowing 101 ill passengers to disembark. The Auckland lockdown has been extended by 12 days. A Victorian man in his 20s has become Australia’s youngest victim. Follow the latest here.
Banks push ASX 2pc higher in historic results week
The ASX ended a second consecutive week of gains, up 2 per cent, as a rally in the banks added to falling case numbers in Victoria.
- Opinion
- Aged care
If NSW falls so does the PM's virus narrative
NSW has inevitably, repeatedly and implicitly been held up as the competent systemic face of dealing with a pandemic. So if things fall apart, the narrative that this is somehow just a failure of politicians rather than a whole series of systemic failures – starts to fray, writes Laura Tingle.
Victorian lockdown ‘psychologically damaging’
NAB chief executive Ross McEwan says Victoria is in 'a terrible state' and doesn’t expect to see signs of a national recovery until 2022.
PM opens door to superannuation freeze
PM Scott Morrison is considering the economic downsides of the scheduled increase in compulsory superannuation to 12 per cent, after warnings from RBA governor Philip Lowe it would reduce take-home pay and cut spending.
Virgin chief wades into bondholder battle
Paul Scurrah has urged staff to support the prospective sale of the airline to private equity group Bain Capital as the rebellious bondholder faction trying to overrule the outcome plans for a court battle.
HK exec says Australia should step up
Jimmy Lai's right-hand man, Mark Simon, says Australia should take in more Hong Kong citizens and offer sanctuary for the city's companies spooked by the erosion of the rule of law.
EARNINGS SEASON
- Opinion
- Chanticleer
What we learnt: Profit season’s early buzzword
It hasn’t taken long for the buzzword of the August 2020 profit season to become clear. All companies want to claim it, but not every ASX company has as much of it as claimed.
- Opinion
- Chanticleer
NAB bankers feeling the COVID-19 pain
Chief executive Ross McEwan has talked about the psychological impact on staff and customers in Melbourne because of the second lockdown.
How Greg Goodman navigated the pandemic (and made record profits)
Being a global business with operations in China, Hong Kong and Japan helped Goodman prepare and adapt more quickly to COVID-19, says the Goodman Group founder.
- Updated
- Earnings season
NAB surprises with stronger than expected quarter
NAB's third quarter result has shown unexpected strength as the bank has opted to hold its COVID-19 provisions.
Newcrest bumper profit comes with soft outlook
Newcrest Mining has posted its biggest profit in eight years, but warned its gold production will decline for the second consecutive year.
CORONAVIRUS PANDEMIC
The crucial questions we need answered about COVID-19
In a week when vaccines made global news, researchers increasingly believe the pandemic may go but the virus is here to stay.
- Analysis
- Aged care
Virus lays bare the $200b health system
Australia's complex health system is struggling on key tests as COVID-19 exposes major problems across all governments.
- Opinion
- Coronavirus pandemic
Locked out expats yearn for the lucky country
After cancelling his trip home due to COVID-19, The Australian Financial Review's London correspondent Hans van Leeuwen craves direct conversation, droll humour and big waves.
- Exclusive
- Coronavirus pandemic
Leaked survey finds 1pc of hospital patients infected
The first results of a national survey suggest most infected people are unaware they have the coronavirus.
Sweating it out with Treasury Wine's CEO
Running an $8 billion company from home has its challenges. Tim Ford, who was a state-level junior cricketer, says vigorous regular exercise is crucial.
Companies
- Updated
- Sharemarket
Mesoblast scores US regulatory breakthrough
Mesoblast has scored a win in marketing its stem cell therapy drug in the US after a verdict was delivered about 7am AEST.
Lynas hits green approval snag on new plant, waste storage plan
Regulatory suspends decision-making process as Lynas races the clock to build new rare earths processing plant.
Telstra's home internet margins drop to almost nothing
Telstra's Andy Penn has little room for error in his efforts to replace earnings lost to the NBN, says Macquarie, as fixed-line margins fell to an all time low.
- Opinion
- Earnings season
Why the AMP board decided to go with Boe
Faced with a formidable task in turning around its wealth management and banking businesses, AMP has pinned its hopes of corporate resurrection on AMP Capital.
Iluka to pump up BHP safety cushion
Pandemic fallout prompts mineral sands miner Iluka Resources to re-think its stake in demerged iron ore royalties business.
Business demands Daniel Andrews' exit plan
Business groups say members are desperate for answers on Victoria's plan to emerge from lockdown and need greater disclosure if cases spike again.
Chevron and UBS tout $5b NW Shelf stake
Chevron has kicked off the sale of its one-sixth stake in Australia's largest producing oil and gas project, the North West Shelf, with an eight-point pitch to potential buyers.
Markets
- Live
- Markets Live
ASX up 2pc for week; Afterpay hits record
Australian shares gained 2 per cent over the week, posting its biggest weekly gain since the first week of July. The S&P/ASX200 rose 0.6 per cent on Friday. Afterpay surged 6.3 per cent to a record close of $75.80. Mesoblast soared 39 per cent.
- Opinion
- Passive investing
The biggest lesson for this investor
With distorted asset prices, it pays to exploit opportunities associated with central bank interference, writes Christopher Joye.
Oil market recovery stutters as COVID-19 spreads
The worst of the oil market shock is over but the recovery looks set to be bumpy, with confidence still fragile about the outlook.
China's industrial growth steady in July, retail weak
In good news for Australian iron ore demand, China's crude steel production jumped 9.1 per cent in July to 93.4 million tonnes.
- Opinion
- Sharemarket
Fractional shares expose Wall Street greed
History shows that the vast majority of new traders will lose money, as it is fuelling speculation and discouraging companies from splitting their stock.
Opinion
If NSW falls so does the PM's virus narrative
NSW has been held up as the competent systemic face of dealing with a pandemic. So if things fall apart, the narrative that this is a failure of politicians, rather than a series of systemic failures, starts to fray.
Columnist
The biggest lesson for this investor
With distorted asset prices, it pays to exploit opportunities associated with central bank interference, writes Christopher Joye.
Columnist
Logic goes missing as federation fragments
With an eye on political gain, premiers and chief ministers are shutting borders despite the pain inflicted on the rest of the country. And the Morrison government can do little but foot the bill.
Political editor
Why the AMP board decided to go with Boe
Faced with a formidable task in turning around its wealth management and banking businesses, AMP has pinned its hopes of corporate resurrection on AMP Capital.
Columnist
Burning platform must fuel reform ambition
As Australia stands on a burning platform of change, the national interest demands the political system be more ambitious in pursuing economic reform in the COVID-19 era.
Editorial
COVID-19 has moved the future to now
For many Australian companies coronavirus has brought the future forward – for better or worse. The reporting season shows the range of results.
Columnist
Politics
State border closures a long-term hit to labour mobility
This year's revolution in working from home could break Australia's city-centricism, but Fortescue warns state border closures will have a long-term impact
- Exclusive
- Coronavirus pandemic
Feds 'help' states increase borrowing to share pandemic costs
The Morrison government has told the states it will help them determine how much they can borrow so they can share the cost of dealing with the coronavirus pandemic.
- Analysis
- Australian recession
Workers need to move states to get better jobs
Unemployment is highest in the states with the hardest border closures. If they continue with their border parochialism, workers and the unemployed will pay the price.
Employers win $2 billion case on personal leave
The Federal Government and employers have welcomed a decision of the High Court on personal leave.
Pandemic could reverse gender pay gap gains
Australian companies are more likely to have a CEO named Andrew than one who is a woman, and the COVID-19 crisis is likely to make the gender disparity worse.
SPONSORED
World
- Analysis
- Middle East tensions
Trump claims foreign policy win he craves with UAE-Israel accord
The deal would make Trump the third US president after Jimmy Carter and Bill Clinton to get an Arab nation to establish ties with Israel.
At home with the Trumps
Mar-a-Lago, also known as 'the Winter White House', is where US President Donald Trump is most comfortable, surrounded by adoring courtiers, says a new book.
The mogul who fired Tom Cruise and passed on Facebook
Sumner Redstone began with a string of drive-in movie theatres and ended up with a media giant worth $110 billion at its peak.
Trump announces historic peace agreement between Israel and UAE
The Persian Gulf state becomes the third Arab country to open diplomatic relations with the Jewish nation.
- Opinion
- Currency wars
What's behind the dollar doldrums
The dollar weakness is neither a boost to markets and the US economy nor a sign of its global demise.
Property
David Waterhouse doubles his money on Darling Point pad
The former art collector, options trader and long-estranged member of the famed horse racing family paid $2.5 million for the Sydney apartment two years ago.
Former Woolies boss in $29m prestige home sale bonanza
Bill Wavish has sold his Palm Beach weekender and Kurraba Point trophy home within 24 hours as the number of luxury home listings in Sydney hit record lows.
Goodman surges to new heights as COVID-19 boosts warehouse demand
Greg Goodman's bullishness was matched by that of investors with Goodman Group shares surging to new intra-day high of $18.45 on Wednesday.
Vendors slash asking prices as uncertainty persists
Sydney and Melbourne sellers cut their asking prices amid a rapidly weakening market.
Childcare centre landlord prospers despite pandemic
Strong government support for the sector in the midst of the shutdown helped Arena stay on track.
Wealth
Should I boost my gold holdings?
Be careful you're not just following the crowd and don't go over 15 per cent of your portfolio.
- Opinion
- Flat Chat
Why some strata services are essentially a rip-off
There's bound to be trouble when the company performing the inspections is also the entity that fixes any faults that are found.
- Opinion
- Sharemarket
Move to top drop boosts Budweiser APAC
Increasing disposable income and urbanisation in the Asia-Pacific region are leading a shift in consumer preferences towards more premium beer categories.
Technology
The Twitter war on journalism
The social media site was meant to democratise opinions. Is it bullying the press into submission?
Apple bans Fortnite from its app store
Epic Games triggered the fight by encouraging users of the Fortnite iPhone app to pay it directly rather than through Apple.
Woolworths' VC arm buys into Longtail UX
W23 led a $2.25 million raise for Longtail UX, a search engine marketing start-up which has helped retailers such as Dan Murphy's grow sales.
Work & Careers
- Opinion
- First Person Pandemic
Why late-night work calls are no longer a drag for 99designs CEO
The graphic design platform's team is more productive than ever and CEO Patrick Llewellyn is seeing his kids more. But the pandemic has caused one blind spot.
- Opinion
- First Person Pandemic
Husband and wife team find family and work balance a stretch
Half of KX Pilates' studios are closed and owners Aaron Smith and Andi Fiorenza are at home with two kids under five. Staying creative is proving a challenge.
Life & Luxury
This film is a warning about the fanatical pursuit of personal style
A study of fetishism delivered in deadpan absurdity? A parable about filmmaking? Whatever twisted fairy tale Deerskin is, it's not boring.
Sydney to Bathurst and back in a Tesla Model 3 Long Range
Electric car drivers are used to having 'range anxiety' but this model puts that condition to rest.
How Australia's artisan producers fought to survive
Tough times in the restaurant trade are prompting quality local suppliers to build a new customer base.
I tried every dessert at McDonald's and ranked them from worst to best
As a part of an ongoing mission to eat and review every single item at the restaurant chain, I recently tried all the sundaes, cones, cookies and pies.
Winemakers step in and step up with a singular vision
Taking over from star predecessors is always a challenge. But these single-vineyard aficionados have done it with aplomb.
