Afterpay shares jump on Westpac deal
Afterpay shares went over $100 for the first time after it said it will offer transaction and savings accounts to its 3 million-plus Australian customers using Westpac's new 10x banking-as-a-service platform as the fintech makes a strategic shift towards banking.
- Live
- Markets Live
ASX seesaws; Afterpay breaks $100; CIMIC writes off $1.15b asset
The Australian sharemarket is trading flat as BHP, CSL and Westpac offset a surging Afterpay. Westpac to provide banking services to Afterpay customers. BHP bins Olympic Dam plan. Tabcorp first quarter revenues down 5.7 per cent. RBA's Kent: more stimulus than GFC.
Andrews hints at early reopening, corruption questions in airport deal
Morrison government faces scrutiny in Senate estimates. Donald Trump attacks Dr Fauci publicly. Morgan Stanley sees US cases at 10m within weeks. Follow live updates here.
CIMIC loses $1b dispute with Chevron
A day after it struck a deal to sell half its stake in Thiess, CIMIC has revealed it will have to write-off another $1 billion.
RBA's Chris Kent talks up $200b TFF
Reserve Bank assistant governor Chris Kent says banks will tap the TFF because it's profitable and will be used to fund loans to businesses and households.
BHP bins another Olympic Dam plan
BHP has revealed another pivot in its long running efforts to find an economic way to expand Olympic Dam, as iron ore exports remained strong.
- Exclusive
- Scandal
Perth Mint holding $100m of gold for tax haven clients
Scandal-plagued Perth Mint failed to conduct ID checks on clients of a bank now under investigation in five countries.
Companies
Origin proxy voting reveals concerns on lobbying
Origin Energy investors lodged relatively strong support for an activist resolution calling for a review of economic stimulus advocacy in response to COVID-19.
The future of consulting: shorter, sharper, cheaper
Consulting firms could face up to a 10 per cent fall in revenue because of the pandemic, and their future is going to be in shorter, less revenue-producing projects.
Former HotelsCombined CEO Hichame Assi new Envato boss
Hichame Assi has been a customer of Envato since 2009 - now he's set to be the CEO.
- Exclusive
- Financial planners
Radical shake-up of financial advice rules floated
Rice Warner has proposed a major rethink of the laws governing financial advice, deregulating the troubled sector in a bid to improve access and affordability.
Forrest-backed green cattle company in super seaweed first
FutureFeed, part owned by Andrew Forrest, Woolworths and GrainCorp, has sold the first licence to grow and produce a seaweed additive that reduces greenhouse gas emissions from cattle.
Lovisa eyes new stores even as sales shrink
Same-store sales fell 10 per cent in the first 16 weeks of the financial year after plunging 32.5 per cent in the June quarter, but the budget jewellery retailer is getting ready to open new stores overseas.
Third probe into Crown's junket dealings
Feared regulator AUSTRAC is the latest body to examine Crown's dealings with Asian junket operators, who have long been suspected of links to organised crime.
Markets
Why the second wave might not drag down European equities
Fund managers say central banks and governments will be pushed to do more, buoying markets - but not everyone's an optimist.
Investors back recovery trade as Victoria opens up
Investors are backing stocks leveraged to Victoria's reopening, saying the easing of restrictions will pave the way for a recovery in some of the market's most beaten-down names.
What happened in markets overnight
Australian shares to slide at the open as Wal St slumps, as the virus surges and stimulus talks drag on. Atlassian resets record high.
- Analysis
- World markets
China delivers a recovery masterclass
The 4.9 per cent rebound in China's economy has left faltering Western economies in its wake. President Xi Jinping intends to press home that growth advantage.
'Financial heroin hits': Three CFD firms fined total of $75m
The Federal Court has hit three trading firms with large fines that targeted investors with high-risk products, as the regulator readies product intervention powers for the retail derivatives sector.
Opinion
Why the RBA isn't fazed by the prospect of rising house prices
RBA boss Philip Lowe has decided that in the context of a pandemic, a further drop in borrowing costs will help people get jobs and shrink the level of problem loans.
Columnist
A distracted US is dangerous for Taiwan
For decades, the threat of a Chinese invasion of Taiwan has been held in check by the US. But the US is now consumed by the most divisive presidential election campaign in living memory.
Columnist
'Callous indifference', 'just a Liberal': Vic insults get personal
Daniel Andrews is a strong political performer despite his government's many failings in dealing with the coronavirus. So to distract critical attention, he is accusing Josh Frydenberg of playing political games.
Columnist
China's recovery is cold comfort for some Australian exporters
With the coronavirus under control, China's consumers are spending again. However, Australia's wine, beef, cotton and coal exporters have little to celebrate as political sanctions bite.
China correspondent
A proud premier endures the indignity of her life
Gladys Berejiklian has been required, by dint of her relationship with a cad, to share more personal information than any political leader.
Senior correspondent
Why history is on Trump's side, not Joe Biden's
Late tightening of polls, the power of incumbency, and the enthusiasm of crowds mean that the President is far from dead.
Contributor
Politics
Frydenberg and Andrews go to war
The federal Treasurer has traded blows with Victoria's Premier amid fears the state's contact tracing and testing regimes are still not up to scratch.
Australia scores coveted invite to Indian naval drills
Australia will participate in joint naval exercises with India, Japan and the United States after a 13-year absence, cementing the growing Quadrilateral alliance between the four countries amid regional tensions with China.
- Opinion
- Chanticleer
There’s a taxing job for Cormann if he gets the OECD role
Tax reform, and making Big Tech pay its fair share, is at the top of the organisation's agenda – and its next secretary-general will have a crucial part to play.
Coalition's 'pointless machismo' on China hurts coal exports: CFMEU
'Undiplomatic, reckless and sometimes bizarre' attacks on China by Coalition MPs pose a grave threat to coal exports, the CFMEU says.
The wedding venue on the wrong side of the Murray
Victoria is hoping its regions can be absorbed into a larger bubble with NSW as local businesses along the border remain constrained by tough COVID-19 restrictions.
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World
China growth keeps rapid recovery on track
China's economy grew 4.9 per cent in the third quarter, missing forecasts but confirming its status as the only major world economy likely to deliver positive growth this year.
Trump slams 'stupid' Republicans for disloyalty
The US President said he respects Democrats because they "stick together", while chiding a small group of outspoken Republicans who have distanced themselves from him.
![Nancy Pelosi: "The 48 [hours] only relates to if we want to get it done before the election - which we do."](http://web.archive.org./web/20201020002919im_/https://static.ffx.io/images/$zoom_0.2691%2C$multiply_0.2644%2C$ratio_1.777778%2C$width_1059%2C$x_0%2C$y_44/t_crop_custom/e_sharpen:25%2Cq_52%2Cf_auto/e3826e7857ef1b1ec5746ebeb8157d43be35ccef)
Pelosi sets deadline for stimulus deal
The US House Speaker said an economic stimulus deal must be struck within 48 hours for Congress to pass legislation before election day.
Early voting begins in crucial battleground state of Florida
President Donald Trump is running out of time to change the dynamics of a race that polls show him losing.
Europe’s second wave raises threat of double-dip recession
Rising coronavirus infections and fresh restrictions on people’s movements could cut short the region’s recent recovery.
Property
Harry Triguboff to bulldoze Vaucluse mansion
Harry and wife Rhonda bought their main home in 1984 for $4.1 million. At today’s prices, we’re talking a $100 million-plus compound.
Melbourne auctions to soar as restrictions ease
Auction listings are already on the rise in Melbourne, even before restrictions were eased, as the embrace of digital platforms to conduct auctions entirely online becomes widespread.
- Exclusive
- Office
AECOM cuts Sydney office footprint as staff work from home
The pandemic created a greater willingness by staff to move away from fixed desks, letting the consultancy cut two floors, not just one, from its lease.
Sir Cecil Looker's Melbourne farm for sale as $100m housing estate
The 434.6 hectare property in Beveridge, in Melbourne's northern growth corridor, is being offered for sale by the children and grandchildren of the renowned 1960s business leader.
- Exclusive
- Property development
Tony Denny slams local council as Central Coast exit looms
Developer Tony Denny, who has sold five out of six sites offered in March, is quitting the NSW Central Coast because he has run out of patience with councillors.
Wealth
- Opinion
- Sharemarket
Why Aussie equities may surprise and outperform
Three reasons why local stocks have a competitive advantage over other parts of the world.
- Opinion
- SMSFs
How to position your SMSF ahead of US election
Investors should retain a long-term view and avoid emotional, politically-driven investing decisions.
- Opinion
- Sharemarket
How to decode technology investments
Understanding where a tech company sits in the "hype cycle" is critical in the valuation of opportunities.
Technology
- Exclusive
- Funding
Start-up that lets supermarket customers skip the scanner raises $7.5m
Tiliter's computer vision technology is used in 20 Woolworths supermarkets, but within 18 months the goal is for it to be in 1000 stores, including in the US.
- Exclusive
- Cloud
Optus signs up with Amazon Web Services to sell cloud services
Optus and AWS will create software services together and a new 'cloud academy' to train 2000 employees in cloud-related skills as the telco evolves.
- Exclusive
- NBN
COVID-19 surge in home tech shows urgent need for NBN upgrade
The pandemic has contributed to a 'massive uptick' in demand for smart home services that don't work properly on the NBN initially built by the government.
Work & Careers
Starbucks ties executive pay to diversity goals
From next year, the compensation of the coffee giant's CEO and 42 other senior executives will be tied to its success at meeting those aims.
Uni overhauls business degree to make it more work-oriented
UNSW has redesigned its basic commerce degree to include new themes emerging from the pandemic, such as workplace flexibility.
Life & Luxury
Whoop it up like Harry Styles in Brisbane's $25,000-a-night penthouse
With no international travel for the foreseeable future, those seeking luxury might have to start looking closer to home. Even in Queensland's capital.
Welcome to the luxury 'bula bubble' in Fiji
Fiji 's exclusive 'Blue Lane' is designed to help the wealthy get back on the water with ease.
- Opinion
- Review
Why Google's Pixel 5 is a threat to the pricey iPhone 12
The Pixel 5 may not be the most futuristic phone on the market, but somehow it feels like the future of phones.
'Relieved and ecstatic': How Melburnians spent first day of freedom
As Melbourne awoke to a taste of freedom on Monday morning, tennis courts, golf courses and hairdressers were hives of activity. But Melburnians wanting a wax or manicure will have to wait a little longer.
The do's and don'ts of racing fashion, 2020-style
As we get set to celebrate the Melbourne Cup virtually for the first time in its 159-year history, it's time to throw caution – if not your hat – to the wind.
