AUSTRAC chief sights big new target
Nicole Rose said she's preparing enforcement action against a major non-banking institution this financial year.
Britain kicks off 'radical intervention' in jobs market
If a business can bring back a worker part-time, the government will foot some of the bill. But the public purse won't subsidise 'unviable' jobs.
'Responsible' lending laws to be axed
The government will in effect dump the responsible lending law that was imposed by the Rudd Labor government in 2009 following the American subprime loan crisis.
Why $2b in bank fines was necessary
AUSTRAC boss Nicole Rose doubts the banks would have spent millions of dollars fixing their systems without the $2 billion in fines the regulator has extracted over the past two years. "I suspect not," she tells Pamela Williams.
US jobless figures at 870,000 as economy continues to falter
Chinese company says its vaccine could be available by 2021. Follow live updates here.
No budget deficit repair until jobless below 6pc: Frydenberg
The government will not start to focus on a return to surplus until the unemployment rate is 'comfortably' below 6 per cent, Treasurer Josh Frydenberg says.
Why John Mullen changed his tune on pandemic response
Six months ago, the Telstra chairman warned about pandemic panic. Now, he's more likely to err on the side of caution.
Companies
- Opinion
- Chanticleer
Lessons from Westpac's $1.3b penalty
Westpac's anti-money laundering case should be the catalyst for boards and managers to review their adherence to the law and send a wake-up call to politicians who failed to catch financial criminals.
'Black swan event': Lyre's raises $16m as zero-proof spirits soar
Non-alcoholic spirit maker Lyre's sales have soared during the pandemic as consumers turn to 'mindful drinking'.
Hayne overruled as banks win responsible lending stoush
The major banks have successfully prosecuted the case that responsible lending has squeezed access to credit, as the Morrison government overhauls the regime.
Packer lieutenant sought to alter Crown forecasts, inquiry hears
James Packer's financial guru Michael Johnston sought to alter Crown's forecasts, which could have benefited the billionaire shareholder, an inquiry has heard.
AUSTRAC intelligence helps to bust Philippines child sex ring
AUSTRAC’s record-breaking $1.3 billion civil penalty for Westpac has swept the headlines, but behind the scenes work has delivered other wins.
Carbon capture vital but needs huge investment: IEA
Controversial carbon capture and storage technology has failed to live up to its promise but momentum is rebuilding, with $US27 billion of projects nearing the go-ahead for construction.
BHP ends domestic thermal coal sales
The National Electricity Market is no longer being powered by coal mined by BHP in the Hunter Valley.
Markets
Frazis confident tech will outlive market rout
The tech sector falls that have driven the Nasdaq down 12pc since early September present a credible entry point, according to Michael Frazis, although further declines are not out of the question.
ASX dips 0.8pc as tech selling spreads and gold miners slide
The ASX dropped on Thursday, with technology stocks weighed down by another sharp pullback in the US technology sector and gold stocks also under pressure.
ASX dives; Afterpay, gold miners hit hard
The Australian sharemarket closed firmly lower; Westpac will pay a $1.3 billion fine for failure to adhere to money laundering laws; the Aussie dollar has tumbled to two-month low; Afterpay shares have fallen following the departure of its CFO.
Afterpay turns to new chief financial officer
The lender has also lost its chief technology officer in 2020, but managed to replace him with a California-based former Uber and PayPal tech executive.
The company that's delivered dividend growth for 20 years
Investment conglomerate Soul Pattinson pulled ahead of Ramsay Healthcare for the longest unbeaten dividend growth streak on the local market.
Opinion
A tale of two legacies looms large as ex-PMs surface
The Morrison government is cleaning up Tony Abbott's energy and NBN mess while borrowing budget ideas from Paul Keating.
Political editor
Reframe 'energy week' as the global problem it is
What's going on globally in climate and energy should be keeping directors, senior management and shareholders of energy intensive companies awake at night.
Companies editor
Sound economic foundation for post-virus nation
Commitment to budget repair and maintaining the integrity of monetary policy will be indispensable to Australia's post-COVID-19 recovery.
Editorial
Why I was right about Victoria's police state
The critics of Daniel Andrews' authoritarian virus response have been proved correct by the draconian omnibus COVID-19 emergency bill.
Columnist
'We’re all fiscalists now' but Keating is still wrong on the RBA
Paul Keating may have a point in saying fiscal policy should have a primary role. But mostly his criticism of the RBA is wide of the mark.
Contributor
Record bank fine a turning point on executive accountability
Westpac's $1.3. billion penalty comes as not only active regulators but activist shareholders hold corporates feet to the fire on misbehaviour.
Contributor
Politics
- Exclusive
- Coronavirus pandemic
Talks on brink of collapse as ACTU accuses business groups of sabotage
The ACTU says some business groups are deliberately sabotaging attempts to reach consensus on industrial relations reform.
Australia taming the virus, national measures show
National measures of COVID-19 infections confirm Australia has brought the virus under control.
Melbourne on the cusp; The $1trn debt bill; Guilt-free drinking
Sydney is getting the kind of news about easing restrictions that Melbourne is desperate for, but which the numbers say is oh-so close. Josh Frydenberg says huge budget deficits are here for the foreseeable future. Here is your virus briefing for Thursday.
- Exclusive
- Cyber security
Dutton pushes trusted 5G suppliers to stop espionage
Peter Dutton has ramped up calls for countries to decouple their technology networks from suppliers that could be forced to facilitate espionage and foreign interference, such as Huawei.
Agents warn of casualties as NSW extends eviction freeze
Renters and commercial tenants have been given another six months of relief as eviction freezes are extended until March.
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World
- Opinion
- China relations
Don't assume Xi Jinping's version of China will last forever
Since 1949 the Party's controls have waxed and waned. And there is evidence that people in China are now chafing under the new constraints and more assertive foreign policy.
Vaccine nationalism: a dose of reality
Governments, scientists and businesses are all looking to a potential vaccine as a quick fix. But rather than solve our problems, it may just create new ones.
HK democracy activist Joshua Wong arrested again
Mr Wong's latest arrest adds to several unlawful assembly charges or suspected offences he and other activists are facing related to last year's pro-democracy protests.
China pledge, Biden win would bring climate goals closer: scientists
A potential change in US leadership, combined with China's ambitious new emissions-cutting plan and a European 'green recovery', could get the world two-thirds of the way to meeting its climate goals.
- Analysis
- Belt and Road
Off the rails – Indonesia's Belt and Road rail mess
South-east Asia's first bullet train is halfway there, the Indonesian government says. Others say the much-delayed $7.8 billion project, part of China's Belt and Road Initiative, should never have begun.
Property
Let them come back to the CBD: office bosses
City office tower owners say more can be done to encourage workers back into the Sydney CBD.
Home Consortium bulks up ahead of convenience REIT float
The Daily Needs REIT will float in late November and hold a seed portfolio of 16 supermarket-anchored malls worth about $800 million.
- Exclusive
- Victoria residential property
Serial renovator flips Toorak digs for $25m
Landscape designer who has made a side career in renovating Melbourne homes and selling them has chalked up another deal.
Fast food, service station, childcare centre defy auction blues
Private investors brushed aside economic worries to bid fiercely for a portfolio of essential services investments.
Cate Blanchett's $12m Sydney apartment sold
The largest apartment in historic 1923-built landmark building The Astor was bought from Wizard Home Loans founder Mark Bouris five years ago for $8 million.
Wealth
Pandemic dilemma for SMSF property investors
Strategies to protect DIY super fund investments as eviction moratorium and mortgage holidays expire.
- Opinion
- Sharemarket
RELX's size and diversity cushioning the COVID-19 blow
The UK-listed company is moving into adjacent opportunities and geographies to provide new growth avenues on the other side of the pandemic.
Bob Ingham: Empire builder
Over almost a century, the Rich Lister's life took in the rise of a small poultry farm into a national icon and vast property and horse-racing holdings.
Technology
Women push for voice in 'Wild West' of the law
Some of Australia's top technology lawyers are joining forces 'to champion female voices' in the development of digital law.
- Opinion
- Electric cars
Elon Musk's battery vision not yet included
The Tesla CEO seeks incremental upgrades to EV technology at the company, whose core business remains unprofitable. But the $US395b equity valuation anticipates exponential improvements in performance.
How app developers are hacking your brain to boost ratings
Glowing user feedback is the lifeblood of the smartphone app world. But what if most of those five-star reviews are cleverly inflated?
Work & Careers
New university research centre 'will do exactly' what government wants
The federal government has invested $2 million in a university research hub which points to future possible investment.
The tech companies that think it's time to end working from home
Whether it's building relationships to increase revenues or learning from leaders, some things can only be done face-to-face.
Life & Luxury
The accidental historian of fashion's inflection point
Paris-based documentary filmmaker Loïc Prigent enjoys the kind of access to designers most can only dream of – and he's never been in higher demand.
BMW's biggest coupe has the speed of a supercar
The M8 Competition Coupe is said to be able to break the three-second barrier, a feat generally reserved for mid-engined supercars.
Star chef explores cakes and extreme wealth in new film
Charming documentary 'Ottolenghi and the Cakes of Versailles', about a high-end pastry party at the Metropolitan Museum of Art, is shockingly prescient.
Small breweries tap into thirst for non-alcoholic beers
Life in lockdown has caused demand for Australian-made low-alcohol or no-alcohol beers to outstrip supply. But it's a gap independent brewers are happy to fill.
New hope a common drug could delay dementia
There are high hopes that a drug, shown to slow dementia in people with diabetes, will do the same for older people in general.
