NBN splashes $700m in bid for domination
NBN Co will slash wholesale broadband prices and invest $700 million over the next three years in its bid to dominate the business broadband market.
NSW records zero local cases; NSW-SA border re-opens
No community transmission in NSW; SA to lift border restrictions with NSW tomorrow; Vic cases could fall below five by end of month: forecast; Follow updates here.
- Live
- Markets Live
ASX slides as virus rattles markets; energy hit as tech rises
ASX falls but so far avoids the hit seen in Europe; resources lower as technology rises; lower rates possible, says RBA's Debelle.
Debelle hints at more stimulus options
Guy Debelle has detailed the central bank's thinking around increasing longer term bond purchases, further reductions in interest rates and steps aimed at weakening the currency.
Qld extends border bubble into NSW
The decisions loosen border restrictions the federal government says are hampering the economic recovery, although Queensland insists it still considers NSW a coronavirus hotspot.
Judges, QCs alarmed over new Andrews emergency powers
A group of retired judges and leading Melbourne QCs has written to the Andrews government expressing alarm over laws giving any designated public servant the right to arrest people suspected of breaching COVID-19 laws.
- Opinion
- Chanticleer
Why Barclays backed Barrenjoey
Barclays Plc is the largest investment bank outside of the United States, but its presence in Asia is weak. It is now pinning its hopes of Asian expansion on a banking start-up on the other side of the world.
Companies
Rex may give half its capital to Asian group to fund city routes
Rex and Asian private equity group PAG Asia Capital are negotiating an investment of up to $150 million via convertible, as reported by Street Talk on Monday evening.
- Exclusive
- Industrial relations
Cleanaway boss says he had to be tough to fix business
Vik Bansal says he 'genuinely' believes the culture at Cleanaway Waste Management is good, following revelations he was probed for bullying behaviour.
Macquarie CEO to advise on energy road map
Macquarie Group chief Shemara Wikramanayake and former Origin Energy boss Grant King will join a permanent council advising the government's much anticipated Technology Investment Road Map.
- Exclusive
- Fintech
Neobank Volt pivots to offer 'bank in a box'
Volt Bank is posing a fresh threat to incumbents, by building a platform with Microsoft to offer white-labelled 'banking-as-a-service' products to non-banks.
Barrenjoey angling to set capital markets alight
Barrenjoey boss and Bankers Trust alumnus Brian Benari says the newest investment bank on the block will succeed because of its throwback ownership model.
- Exclusive
- Australia's China challenge
Huawei reveals $100m local cost of 'cold war'
Huawei is cutting its investment in Australia by $100 million and will axe 1000 local jobs as experts warn all sides will be hurt in the China-US tech war.
Rio mine plans under threat as traditional owners hit back
The mining giant has bowed to pressure to revisit iron ore deals in which traditional owners signed their heritage protection rights away.
Markets
- Opinion
- Chanticleer
Barrenjoey Capital's $10b war chest
A full service investment bank needs enough capital to underwrite the risk appetite of its clients. This is why Barclays is so critical to Barrenjoey Capital Partners.
Goldman promotes Minnis, Raman, Wheeler
The moves come as David Solomon seeks to increase diversity in the bank's top ranks, including a goal to make women 40 per cent of its vice presidents by 2025.
What happened in markets overnight
Australian shares are poised to plunge 1 per cent at the open amid a broad global selloff. Iron ore, oil and gold fall. $A slides.
Banks seek to contain damage over $2.8trn of suspicious transfers
The report was based on 2100 leaked suspicious activity reports (SARs), covering transactions between 1999 and 2017.
Magellan throws its weight behind investment bank Barrenjoey
Over time, investment banking promises 'a very very good return' and 'optionality' in the eyes of Magellan chief executive Brett Cairns, who is putting up $155 million to back Barrenjoey.
Opinion
Energy politics transition from coal to gas
Scott Morrison has broken up with coal, but is trying to keep the Coalition's conservative base united by pushing gas-fired power.
Contributor
Australian Chinese trapped between Beijing bullies and Canberra spooks
Greater transparency about Australia's counter foreign influence activities is needed to protect people of Chinese heritage who fear being targeted by security agencies for speaking about China.
Contributor
Keating or Morrison, the recession solution is the same
The October 6 federal budget may be about the future but its measures will be firmly rooted in the past.
Political editor
Standing army is crossing line by helping suppress virus dissent
The ADF's proper role is national defence, not assisting the Victorian police crackdown on protests against the lockdown.
Columnist
Beware the long arms of American and Chinese law
Without common international rules, third countries may increasingly find themselves torn between the competing extraterritorial demands of Washington and Beijing.
Columnist
How to choose an aged care facility
The outside appearance will certainly matter to some – but it is what is going on inside that really counts.
Contributor
Politics
Hydrogen rises as road map shuns 'mature technologies'
Coal, gas, wind and solar will no longer warrant government investment 'unless there is a clear market failure', while hydrogen is one of five top priorities in the technology road map to be released by Angus Taylor on Tuesday.
- Analysis
- Coronavirus pandemic
Keating or Morrison, the recession solution is the same
The October 6 federal budget may be about the future but its measures will be firmly rooted in the past, writes Phillip Coorey.
Politics is keeping borders closed, say health experts
Health experts have backed NSW Premier Gladys Berejiklian's claim there is no legitimate health reason for state borders to remain closed.
Health experts urge quick-step in Andrews' plan
Victorian Premier Daniel Andrews said it was too early to announce any changes despite the state recording just 11 new cases of the coronavirus on Monday.
Top bureaucrat unaware who made decision on Victorian hotel security
Victoria's top bureaucrat says he doesn't know who made the decision to hire private security contractors for hotel quarantine, contradicting evidence from the state's police commissioner.
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World
Sinodinos urges Biden, Trump to revisit TPP and share China burden
With Australians facing 'bumpy' times because it is standing up to China, the US should reconsider joining the 'strategic Trans-Pacific Partnership, says Australia's ambassador to Washington.
Johnson edges closer to second national lockdown
Boris Johnson is set to impose new restrictions on nightlife, including the forced early closure of pubs and restaurants in England.
- Exclusive
- Investment banking
Star Macquarie banker kicks goals in Europe
Jerry Korczak isn't much of a soccer fan, but he saw a banking niche and turned it into a big business for Macquarie's London office.
Trump to reveal Supreme Court pick by Saturday
President Donald Trump said he was zeroing in on one or two candidates among five who are under consideration.
Biden bashes Trump's leadership on pandemic in Wisconsin
"He froze. He failed to act. He panicked," Joe Biden said of Donald Trump's response to the pandemic.
Property
Sydney mansion sells for more than $30m
It's second time lucky for press scion Alexander Ma’s Vaucluse house, after a mystery buyer lost more than $3 million by walking away from a previous deal.
Property leaders' plea: Open the borders, end the lockdown
With Victoria recording just 11 new coronavirus cases on Monday, property executives are urging the southern state to accelerate plans to reopen the economy.
Queensland faces 21,000 empty hotel rooms over summer
Queensland has only weeks to act to prevent thousands of interstate holidaymakers booking their summer vacations elsewhere, says Accor boss Simon McGrath.
Tony Denny sells three Central Coast sites for $15m
The three properties were part of a portfolio of six sites Mr Denny put up for sale in March with expectations of around $40 million.
IWG to open 10 new co-working spaces with first franchise deal
Flexible office space provider IWG has signed its first Australian franchise deal that will see another 10 co-working spaces open up in the country under its Regus brand.
Wealth
Millennials deserve better advice
Ahead of a massive transfer of wealth, beneficiaries are ill prepared for the responsibility of wealth stewardship.
- Opinion
- Ethical investing
Case for sustainable investing
Irrespective of whether you want to make the world a better place or you want to make higher profits, it's not a fad but a key consideration in SMSF portfolio construction.
- Opinion
- Aussie dollar
Does Aussie dollar outlook argue for a bit more hedging?
With our currency below long-term averages and the US dollar vulnerable, it’s no surprise many forecasters are targeting further appreciation.
Technology
Facebook failed to limit QAnon
The QAnon movement has proved extremely adept at evading detection on Facebook under the platform's new restrictions.
- Analysis
- Cyber security
TikTok deal exposes a security gap, and a missing China strategy
The Trump deal involving Oracle has not resolved the larger security risk that foreign apps pose when their codes are controlled by a foreign power.
ByteDance insists TikTok will remain its subsidiary under Trump deal
The Chinese company said it would own 80 per cent of TikTok Global, a newly-created US company that will own most of the app's operations worldwide.
Work & Careers
Why women are leaving stable jobs for careers in start-ups
Female doctors, dentists, consultants, lawyers, bankers and other professionals are ditching the security of established careers to chase more meaningful work.
Couple increase their customers 2000pc during lockdown
Instead of letting the lockdown cripple their new business, this Melbourne couple decided to launch a new product.
Life & Luxury
Airbus reveals hydrogen designs for zero-emissions flights
The approaches include a turbofan jet with capacity for up to 200 passengers, which can fly more than 3700 kilometres, a flying-wing concept with 200 seats.
From Norfolk to the Top End, isolation remains popular
From the island that once haunted dreams to a wartime Sydney tour and a festival of lights in the Red Centre: you can have a bucket-list holiday at home.
Roger Vivier makes a sumptuous case for wearing heels again
The creative director of the storied Parisian footwear brand doesn't think glamour is going anywhere just yet.
- Opinion
- Review
New Apple Watch's best features aren't new at all
Despite our misgivings about the new features in the Apple Watch Series 6, it's actually pretty great.
Schitt's Creek takes a paddle to the Emmys
Schitt's Creek swept the awards for comedy, capping its rise from a Canadian sitcom with a cult following to one of the most celebrated shows on TV.
