- Live
- Markets Live
ASX to surge; Pfizer says vaccine 90pc effective
The ASX is set to surge, building on an eight-month high hit on Monday. Global markets rallied overnight on news of Pfizer and BioNTech's vaccine breakthrough, with travel stocks big winners but tech stocks lagging. Oil up 8pc, $A at US72.9c. James Hardie reinstates dividend, BHP fends off UK lawsuit.
Markets go through the roof as Pfizer unveils vaccine breakthrough
Pfizer and BioNTech say the vaccine is 90 per cent effective and could be in production before the year's end - although hurdles remain.
- Exclusive
- China
Morrison to join forces with Japan
Scott Morrison is set to sign a defence pact with Japan that is aimed at sending a strong message on the importance of alliances in the Indo-Pacific.
- Exclusive
- Fixed income
ASIC keeps identity of cash fund marketers secret
Ten fund managers wrist-slapped for labelling their products in a misleading way told ASIC that disclosing their identity could harm the relationship.
- Live
- US votes 2020
Trump faces long odds in challenging state vote counts
US Defence Secretary Mark Esper was fired by President Donald Trump with the heads of the FBI and CIA seen potentially next. President-elect Joe Biden implored Americans to wear masks. Follow live here.
AstraZenenca calls Pfizer data 'incredibly promising'
Pfizer's preliminary data shows that its vaccine is more than 90 per cent effective but experts caution that it will be some time before it can be approved or rolled out. Follow live updates here.
Former staffer alleges affair with Population Minister Alan Tudge
The Population Minister and the Attorney-General Christian Porter are implicated in an investigation into inappropriate behaviour in Canberra.
AMERICA VOTES
Fear of lame-duck chaos as Trump stays silent on concession
Donald Trump’s refusal to concede defeat is stoking fears he will throw up roadblocks and booby traps for Joe Biden that could shut down government.
Early signs of Trump brake on quick Biden transition
Paperwork unlocking millions of dollars and giving taxpayer-funded transition teams access to government officials, office space and equipment look likely to be held up.
- 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.
Companies
- Exclusive
- Business IT
Leaked documents expose Toll-Accenture IT car crash
A company-wide IT system at the logistics giant was meant to cover 300 financial functions. By the go-live date, it covered 17, confidential papers reveal.
BHP fends off $9bn English lawsuit over Samarco disaster
The judge said adding an English case to the slew of Brazilian lawsuits over the 2015 tailings dam collapse would be too complex and costly.
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.
Coca-Cola Amatil shares rise as investors anticipate higher bid
At $12.69, Amatil shares are trading just 6 cents short of Coke Europe's offer.
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.
Global Switch fire system 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.
Markets
ASX to soar 2.1pc at open on vaccine news
Australian shares are poised to leap at the open, amid a global relief rally. Oil surged, gold plunged, US bond yields shot higher.
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
$A momentum lifts with US Senate outcome
The Federal Reserve could be forced to take action at its meeting in December if fiscal relief is caught in the US Senate, and see the Aussie dollar rise further.
Ant faces tortuous path back to market as Beijing tightens rules
China’s agile fintechs expected to be treated more like closely controlled banks
- 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.
Opinion
ASIC in limbo as it stares at an uncertain future
There's a sense of despondency at Australia's corporate watchdog as the Morrison government awaits the Thom review before making some big decisions.
Columnist
Australia needs a total strategy to manage Beijing
Protecting the prosperity created by the rise of China means Australia must also have the national maturity to get serious about dealing with the security challenges posed by China.
Editorial
Australian exporters' China problem will only get worse
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
Politics
Net zero emissions desirable by 2050: PM
Scott Morrison says Australia could achieve net zero emissions by 2050. But he won't mandate it.
Queensland now has more active COVID-19 cases than Victoria
Queensland Premier Annastacia Palaszczuk says she has no plans to bring forward her monthly border decision meeting, despite pleas from the tourism industry.
Executives look forward to NSW reopening to Victoria
For one boss, it's been tough being locked down in Melbourne as his company opens new shops, while another executive has yet to meet her new boss and staff.
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.
Battle looms over JobMaker wage subsidy scheme
Labor and crossbench senators want changes to JobMaker, arguing too many workers will be excluded from the hiring credit scheme.
SPONSORED
World
Britain bids to maintain post-Brexit London's financial pre-eminence
Chancellor Rishi Sunak unveils climate measures and digital plans for financial services, as the EU dithers over keeping the door open.
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.
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.
Domacom punts fractional investment in affordable housing
The ASX-listed investment platform is teaming up with affordable housing provider BlueCHP to boost private capital in key worker housing.
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.
It’s tea time at the historical mansion built for a bookie
An elaborate Melbourne mansion with a former life as a wedding reception centre will soon become an afternoon tea destination.
Perth's global link spurs Equinix data centre
Sub-sea cables connecting Singapore to Perth make it Australia's second digital gateway to the world, and cut the time taken by traffic into and out of data centres there.
Wealth
- Opinion
- Aged care
Why it's a mistake to pay aged care deposit for mum or dad
Helping out with lump sums often means increased costs elsewhere for your parents, so run through the numbers to decide on the best way you can help out.
- Opinion
- Investing
Compelling case for alternative assets
'Dark kitchens' and better healthcare are just a few examples of how fund managers are profiting from meeting changing needs.
- 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.
Technology
Aussies fear tech regulatory crackdown will stall in new US Senate
Australian tech leaders say big tech is set for a reprieve from any major regulatory changes for at least two years, after the result of the US election.
Federal facial recognition identity technology to check 'liveness'
An Australia-wide identity system using advanced facial recognition testing to ensure security, is being prepared to go live mid next year.
- Opinion
- Tech crackdown
Fake news is just the tip of the (melting) iceberg
The US election might go down in history as the beginning of an era when Big Tech finally acknowledged the devastating effect it has been having on public discourse.
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.
