ANZ exec bonuses cut, salaries hiked
ANZ's top brass will receive lower overall packages as bonuses were cut, but the pain was lessened by fixed salary increases.
ASX roars to eight-month high, climbing 1.8pc
The Australian sharemarket charged higher on Monday with US President-elect Joe Biden's victory ending uncertainty that has weighed on the investment outlook for much of the year.
Why REA and Domain shares surged to records
Record low interest rates and a better than expected result from REA Group have boosted its shares and those of rival Domain
Trump backers live on in Canberra
Coalition MPs don't want to count the US President out just yet, with George Christensen and Craig Kelly publicly casting doubt that the US election has fallen in Joe Biden's favour.
- Live
- US votes 2020
'Prank-fest': Trump fraud appeal overwhelmed
Trump campaign aides trying to collect examples of voter fraud have been flooded with non-stop prank calls; the President did not turn up on a conservative broadcaster's show as expected, and Joe Biden visited his son's grave after attending church. Follow updates here.
- Exclusive
- Commercial real estate
Andrew Forrest's big push into property
Billionaire mining magnate Andrew Forrest has made a strategic push into real estate through his private investment company Tattarang, as the group ramps up its portfolio beyond resources.
Biden to announce COVID-19 taskforce
US President-elect Joe Biden will announce a 12-member task force charged with developing a blueprint for containing the disease. Active cases of coronavirus fall to 84 nationally; NSW Victoria record no new locally acquired COVID-19 cases. Follow the latest updates.
AMERICA VOTES
- Opinion
- US votes 2020
Obama's presidential style gets another term
Joe Biden is not so much an agent of change, as a reversion agent – he was elected to Make America Able to Sleep Again.
Biden and transition team ready to move on cabinet picks
The US President-elect and his transition team are expected to move quickly to fill positions in his cabinet, although he may be forced to make more moderate selections if Republicans retain control of the Senate.
A 'terrifying’ COVID-19 surge will land in Biden’s lap
The President-elect is in line to inherit one of the most serious and complicated national crises that any incoming president in more than a half-century has faced.
- Analysis
- US votes 2020
Biden – and science – will change how the pandemic is managed
Public health officials hope there will be a definite shift towards the science of containing the pandemic once the President-elect takes office.
Trump continues to defy election results as world moves on
Republican officials and allies splinter between nudging the President to accept defeat and encouraging him to fight.
Companies
Ex-CIMIC chairman $35m better off than investors
Marcelino Fernandez Verdes made at least $35m out of the company but investors are no better off than when he arrived in 2014.
Global Switch 'fire incident' triggered major Tabcorp outage
Tabcorp wagering services were forced offline over the weekend thanks to a smoke and "likely fire" incident at Global Switch's data centre in Sydney.
Banks bury AUSTRAC in junk reports
Banks on the back foot are contributing to a steep rise in suspicious matter reports to the financial intelligence regulator.
NSW energy plan raises worries on risks for consumers
The state's big plan to transform its energy market towards renewables is loved by clean energy investors but consumer groups and other energy suppliers are worried.
Revolut, TransferWise welcome new rules for 'digital wallets'
The Council of Financial Regulators and Senate select committee on fintech are examining the role of offshore tech companies providing 'banking' services.
Karoon takes ownership of Brazil's Bauna oil field
The $912 million deal with Petrobras has finally been completed – more than a year after it was first announced.
Top 100 companies improve ATO compliance
Scrutiny of the tax affairs of companies paying more than $34 billion to the ATO shows signs of improved compliance.
Markets
- Live
- Markets Live
ASX closes at eight month high; REA, Domain at record highs
The Australian sharemarket has closed at its highest level since March 5; Joe Biden has been declared President-elect; Karoon Energy completes Bauna acquisition; Tabcorp restores services following Saturday outage; Crown Melbourne set to reopen.
- Opinion
- Tax avoidance
ATO loses landmark gold case, creating a budget hole
The Australian Taxation Office faces a budget black hole of more than $1.15 billion after it lost one of its most controversial tax cases on Friday.
- Analysis
- Fintech
PayPal's rise leaves buy now, pay later sector on knife edge
Whether investor enthusiasm for the buy now, pay later sector is out of control and fuelled by government stimulus, or justified, is yet to be determined.
- Analysis
- US votes 2020
A worried Asia wonders: What will Joe Biden do?
As Asia comes to terms with the reality of a Joe Biden administration, relief and hopes of economic and environmental revival jostle with needling anxiety and fears of inattention.
Quest: the quiet achievers of the Australian equities market
For 15 years, Quest Asset Partners has gone about picking winners and avoiding losers in the Australian market.
Opinion
Biden won't fix Australia's problems in dealing with China
Australia is hoping a Biden presidency will manage some of the tensions between China and the US. But none of this will fix the tensions between Beijing and Canberra.
Columnist
How Australia can reboot its ties with the US and China
Reviving the Trans-Pacific Partnership is the kind of project that Canberra, Washington, and even Beijing could embrace together.
Columnist
Morrison left exposed to climate damage by Biden win
By refusing to budge on setting a net zero date, Canberra risks being forced to act anyway.
Columnist
With Australia-China relationship at a critical point, can Biden help?
With Australia's relationship with China at a very dangerous stage, the timing of what is expected to be a 'more nuanced' approach from a Biden administration could not be more welcome.
Political editor
Shadow haunts Biden's promise of a brighter future
Joe Biden is appealing to America's 'better angels' over its 'darkest impulses', but is it even possible for the US to dream of ending the country's bitter polarisation?
Columnist
A stronger Australia is needed for post-Trump America
A Biden presidency will not resolve Australia’s strategic dilemma. The country needs to continue to protect its sovereignty and build a stronger economy.
Editorial
Politics
'Extreme and unrelenting' pressure on ABC
A senior ABC journalist has hit out at "extreme and unrelenting" pressure being applied over an investigation into the conduct of some of Australia's most senior politicians.
The billion-dollar productivity boost of circular thinking
A new report suggests pivoting to a more circular economy could unlock $23 billion in gross domestic product and create tens of thousands of jobs by 2025.
Labour hire 'loophole' in JobMaker hiring credit, union warns
Unions want labour hire to be blocked from the government's hiring credit over fears it will let employers exploit the wage subsidy without adding jobs.
China adviser urges Morrison olive branch to halt trade war
An adviser to China's Commerce Ministry says there are things the Morrison government can do to salvage Australia's most important trade relationship.
Tribunal fast-tracks JobKeeper eligibility challenge
A tribunal is considering an appeal over the federal government's eligibility rules for JobKeeper, a challenge which could result is more small businesses receiving the payments.
SPONSORED
World
Chinese state media reacts to Biden victory with cautious optimism
The immediate reaction to Joe Biden's victory Sunday was measured, indicating that China was willing to attempt, and indeed was eager for, a thaw.
Latino Democrats tell Mexican president to get with the program
A Biden presidency is seen as a chance to reset ties under stress since Trump made his first White House bid, tarring Mexican migrants as rapists and gun-runners and vowing to keep them out with a border wall.
Turkey’s finance minister resigns amid pressure over economy
Berat Albayrak's resignation comes a day after the head of Turkey's central bank was replaced.
Ethiopia’s leader reshuffles top officials amid Tigray conflict
Prime Minister Abiy Ahmed replaced the head of intelligence and the army chief, and appointed a new federal police commissioner. He also chose a new foreign minister.
Bolivia's socialists sweep back to power as Arce sworn in as President
Luis Arce was inaugurated in a ceremony in the highland city of La Paz, in front of heads of state from Argentina, Paraguay, Colombia and Spain.
Property
New metro to spur Flinders Street development
The historical Flinders Street building stands just near what will become the entrance to a new metro tunnel and a steady stream of daily commuters.
Singaporean developer Wee Hur buys $46m site for student accommodation
Listed Singaporean developer Wee Hur is looking past COVID-19 and a current slump in overseas students in Australia with plans to build more student accommodation.
Two 'completely different' buyers fight for commuter-belt acreage
As metropolitan Melbourne emerges from the pandemic, many have made resolutions about where and how they want to live - and will fight for it.
Derivatives trader makes $30m return to hometown
Andrew Killion left Sydney in 2011, selling his Queens Park semi for $2 million to move to the US. His homecoming is a little more spectacular.
Macquarie lobs $300m cash bid to buy Vitalharvest
Macquarie Infrastructure and Real Assets has lobbed its bid as either a scheme agreement to acquire all 185 million units in the trust at $1 each or failing sufficient support for that, a $300 million offer to buy the assets directly.
Wealth
- Opinion
- Sharemarket
China dynamics offer rare earth opportunities
Australian producers could benefit as the US looks to diversify where it sources rare earths, used in anything from technology to healthcare.
- Opinion
- Chanticleer
Fink sees ‘a seismic reallocation of capital’
BlackRock boss Larry Fink says the firm is already winning fund flows thanks to the push by clients to invest with a climate risk overlay.
Meet the Millennial smashing his dad at share trading
What started as a hobby for 31-year-old Tom Lowe, quickly became a friendly stockpicking competition with his dad.
Technology
- Opinion
- Agriculture
Australia risks missing out on $700b agrifood tech industry
Exporting agritech is a fundamentally different opportunity than exporting agricultural produce, but the chance to lead the world is being ignored by government.
- Exclusive
- Venture capital
Remote worker management tech start-up raises funds
Australian venture capital fund Future Now Ventures has backed JESI, a start-up that has built technology to help organisations keep tabs on remote workers.
- Exclusive
- Cyber security
BCG's cyber boss says boards must spend less, take more responsibility
Global consulting giant BCG will run its cyber practice from Melbourne, and its new boss says companies must stop throwing money at the problem.
Work & Careers
'Brutal' year for Victorian students approaches end
For final-year students approaching the VCE, it's been hard – but there have been some good lessons.
Nursing report goes unanswered a year after it was handed down
The report made sweeping recommendations to reform nursing education, but there has been no official response.
Life & Luxury
The brand that spotted a gap in the sunscreen market
The founders of Australian suncare brand Ultra Violette are on a mission to make sun protection sexy.
- Opinion
- Diet
The A to Z list of foods that are good for you
As a nutritionist, I've compiled an alphabet of healthy consumables. Yours might differ according to your own health needs, of course, but this is mine.
Get ready for the summer of seltzers
Alcohol brands are going hard after Australia's summer daytime drinking crowd by marketing all new seltzers and ciders.
Wash or wipe? The odd lesson this MD learnt from a yoga guru in India
Since taking up yoga five years ago, Prime Build managing director Dean Willemsen has had his hamstrings stretched and his mind expanded.
Porsche and Embraer are selling a jet and car combo for $15m
The limited-edition pairing of the Phenom 300E private jet and 911 Turbo S supercar includes a custom Porsche Design 1919 Globetimer UTC watch and luggage set.
