Virgin delists as Bain takeover completes
Vaughan Strawbridge refused to say whether there are protections to ensure Bain remains true to its pitch for the carrier ahead of Jayne Hrdlicka taking the helm on Wednesday.
SA cluster grows to 20, self-quarantine for 4000 contacts
SA health authorities say 4000 close contacts of confirmed COVID-19 cases have been advised to go into self-quarantine; NZ PM hoses down travel bubble; Victoria gets another 'doughnut day'. Follow live updates here.
ASIC raises hell after another ASX component fails
The ASX's comeback from the longest outage in four years did not go as smoothly as hoped on Tuesday and was impeded by delays, eventually resolved, with the ageing CHESS system of clearing and settlement late in the session.
Freedom Foods investors antsy over lack of information
Investors have had virtually no contact with Freedom Foods since meetings with the CEO and chairman were pushed out after it extended its trading suspension.
- Analysis
- World markets
Vaccine is kryptonite for US dollar
Some of the world's biggest banks are calling for further US dollar weakness should a vaccine spark a global recovery. That's a headache the RBA doesn't need, writes Robert Guy.
New vaccine doubles optimism, but no dancing in the streets yet
Moderna widens the window on how a COVID-19 vaccine can work and shows extra benefits, but its results are all unpublished and preliminary.
- Analysis
- NSW budget
Stamp duty plan a huge step forward
In an otherwise depressing budget, NSW Treasurer Dominic Perrottet casually dropped a plan that could come to be seen as one of the most significant contributions to the tax system by an Australian government of the past two decades.
Companies
Nine board pushed on CEO succession, clarity on Marks exit
While shareholders have credited the company for having internal candidates ready following Hugh Marks' surprise resignation on Saturday, they said the situation puts pressure on the board to retain executives.
AGL hits pause on NSW gas power after energy road map
Plans to install a big battery at the Liddell site in the Hunter Valley are also in doubt because of the government's energy strategy plan.
Crown wants regulators to decide on junket deals
Crown Resorts says it will only engage with junkets that have been approved by state watchdogs.
APRA to mitigate mortgage concentration risks
The prudential regulator will kick-start its policy agenda with a 'massive piece of work' on capital just before Christmas.
New Hope says China shifting coal shipments to January
Annual limits on Chinese coal imports are the reason why some Australian miners are having their shipments deferred, according to New Hope boss Reinhold Schmidt.
Afterpay's Nick Molnar resumes CEO role
Nick Molnar will resume the chief executive role at Afterpay, alongside Anthony Eisen, and will return to the US when possible to oversee its international operations, the company said on Tuesday ahead of its AGM.
Toys R Us stores to reopen after Hobby Warehouse's Funtastic merger
Hobby Warehouse CEO Louis Mittoni sees scope to open physical stores and lift sales sixfold by 2030 if Funtastic shareholders approve a reverse takeover.
Markets
Vaccine breakthrough 'very exciting' for markets
A second major vaccine breakthrough in as many weeks has driven another rally in risk assets across the globe, with value stocks the big winner on the local market.
Vaccine breakthrough pushes ASX to nine-month high
The Australian sharemarket rose to a nine-month high on Tuesday as news of a second vaccine buoyed hopes for a faster than expected economic recovery.
ASX edges higher on bank gains; CHESS issues persist
The ASX 200 has claimed a fresh nine-month high as the major banks offset broader market weakness; restrictions-exposed companies outperform after promising vaccine trial results; the ASX is investigating a problem impacting CHESS. Follow updates here.
$A back above US73¢ as economy looks better
Growing optimism for a vaccine-led global growth recovery once again lit up markets.
RBA governor Philip Lowe on MMT, negative rates and the pandemic
"If we can keep the virus under control with stimulus in the system and a good balance sheet then I think we can come back strongly," Dr Lowe said.
Opinion
Testing times in SA and NSW
Fingers crossed. Australia is relying on South Australia's ability to stop the spread of the virus in its tracks while NSW is relying on big spending and budget reform to set it up for a better future.
Columnist
RBA's intentions misunderstood, says McKibbin
Former Reserve Bank board member Warwrick McKibbin does not expect $100 billion of bond purchases by the Reserve Bank to have any meaningful effect on the economy.
Senior reporter
What can the new vaccines deliver?
The world is relieved at new inoculations against COVID-19. They will fix the symptoms – but can they stop its spread?
Contributor
Biden’s flawed plan for global leadership
The President-elect will find it hard to persuade Americans the US can benefit from international engagement, without automatically taking the leadership role.
Columnist
The new rules for work and sex
The old rules for sexual relationships in the workplace are being discarded as no longer fit for purpose or community acceptance.
Columnist
ASX talks a big game but fails to deliver
The ASX said it can be trusted to deliver a system to serve markets for the next decade. Monday's failure casts doubt on that claim.
Senior Writer
Politics
NSW takes the lead on ending stamp duty
Businesses and economists have praised NSW Treasurer Dominic Perrottet's 2020-21 budget, in which he proposed an optional move away from stamp duty to an annual property tax based on land value.
'No evidence' to support border closures to SA
Greg Hunt says South Australia is less likely to have a widespread coronavirus outbreak compared with Victoria because of its robust testing and tracing regime.
SA puts 4000 into quarantine in virus fight
Premier Steven Marshall says the state is ''not out of the woods yet'' as five new COVID-19 cases were reported on Tuesday.
'It's fake': Albanese rebuffs bullying allegations
Labor leader Anthony Albanese has been put on the defensive following publication of an anonymous letter alleging bullying by his office.
The winners and losers of the NSW 2020 budget
NSW diners are some of the big winners in the state budget, with the government handing out $100 worth of vouchers to spend on hospitality and entertainment.
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World
American 'dark winter' looms as states brace for surge
As new cases surge by the most since the pandemic began, President-elect Joe Biden says "more people may die" if departing President Donald Trump keeps blocking a transition of power.
How Trump was talked down from a hit on Iran
The President might still be looking at ways to hit Iranian assets and allies, including militias in Iraq, officials said.
US could have two vaccines good to go next month
The United States could have as many as 60 million doses of vaccine available before the end of the year.
The secret club for billionaires who care about climate change
A select group of super-wealthy families have decided they want to take climate change more seriously – or, rather, their investment portfolio should.
Europe must break 'Chinese-American duopoly', Macron says
The French President imagines an assertively independent European Union espousing a new 'Paris Consensus' on the economy.
Property
Stamp duty fix may cause short-term hit to property demand
The pandemic is forcing policymakers to grapple with reforms they have not been able to tackle so far, says economist Shane Oliver.
Push needed for workplace return, UBS conference told
UBS ran a straw poll among its conference attendees: 70 per cent were working from home as they listened in, while 28 per cent were in their offices. Two per cent listed their location as 'other'.
Charter Hall acquires $353m Bunnings portfolio
The six properties that formed CBRE Global Investors' Asia Pacific Bunnings Trust are mainly located in Sydney, Melbourne and Brisbane.
Lendlease exits US solar farms business
The energy business divestment follows Lendlease's sale last month of its US telecommunications platform to Apollo Global Management.
Vicinity opens seventh DFO
The rebranding of the retail outlet as DFO Uni Hill brings to seven the number of discount malls Vicinity has under that brand.
Wealth
Musk's eventful week continues as fortune jumps $US15b
Musk is poised to become the world's third-richest person after his net worth swelled by more than $US15 billion in extended trading.
- Opinion
- Portfolio management
Alternative thinking can supercharge your portfolio
Investors need more than just traditional bonds and equities as rates hover around zero. They should focus on dynamics, innovation and returns.
- Opinion
- Investing
Why it's better to stay invested
A panic move to cash after the start of the pandemic would have left you out on the sidelines, while a diversified portfolio smoothed the highs and lows and outperformed equities.
Technology
SpaceX closes in on space station
SpaceX’s newly launched capsule with four astronauts docked on the International Space Station on Tuesday, their new home until next year.
- Opinion
- Review
I hate how much I love the iPhone mini
Darn it! Apple's new, diminutive phone is surprisingly usable, and almost as addictive as any other iPhone.
- Exclusive
- Leadership lessons
Former AMP Bank boss bolsters Culture Amp's executive team
Sally Bruce realised her three loves – building a culture that encourages diversity, 'positive disruption' and change – could be unified in a different setting.
Work & Careers
Leading law firm slugged $160k for deception
The Federal Court found the local arm of Norton Rose Fulbright had deceived a former partner into dropping a Fair Work claim over his dismissal.
Why this executive still dreams of the one that got away
Warren Zietsman got hooked on fishing as a toddler and always takes a rod with him, whether he's heading inland or to the beach.
Life & Luxury
The 'Airbnb of textiles' has arrived in Australia
New Yorker Stephanie Benedetto is helping the fashion industry solve its sustainability crisis by finding new purpose for dead stock. Now she's bringing her business Down Under.
Instagram launches its first online-only shopping night
David Jones is on board as the social media network leans into its identity as a virtual Christmas shopping mall with "InstaNight Shopping" on December 3.
How's the serenity? Wilderness cabins and a stylish city retreat
Unyoked's founders are set to debut eight new remote-stay cabins, while Victoria continues to reopen, with a new hotel and two enticing NGV exhibitions.
We are here: new gallery opens in Sydney's west
The Granville Centre Art Gallery near Parramatta is making its debut with exhibition of works by Dharug artists.
How to stop witnesses from being treated like criminals in court
ABC journalist Louise Milligan is lobbying for change after experiencing the trauma of being a witness first-hand.
