‘Extraordinary’: Property values rise at fastest pace in 17 years
Property values rose at their fastest pace in almost 17 years in February, the combination of ultra-cheap credit and low stock levels put Sydney and Melbourne on track to hit new record highs.
- Live
- Markets Live
ASX advances 1pc; Austal climbs on contract wins
The Australian sharemarket has risen at the open; Aussie bond yields tumble; bitcoin extends its tumble; GWA CEO Tim Salt resigns; Freedom Foods narrows net loss; John Poynton exits Crown board; Fortescue, Aurizon trade ex-dividend.
Collapse of crypto platform a cautionary tale
The mysterious collapse of a cryptocurrency trading platform highlights the risks of the speculative and effectively unregulated currency.
- Live
- Need to Know
Trump calls for donations to fund 2024 presidential campaign
Trump urged the cheering crowd to fund his 2024 presidential campaign and unseat disloyal Republicans; Greens senator Sarah Hanson-Young has urged the PM to act on an old rape claim before parliament returns. Follow updates here.
Labor’s negative gearing, CGT plans aren’t dead yet
Federal Labor has not closed the door to taking changes to negative gearing and capital gains tax exemptions to the next election, despite removing from its policy platform the policies it took to the last election.
- Opinion
- Cryptocurrencies
Bitcoin cannot replace the banks
So-called ‘fiat’ money derided by bitcoin supporters is usually defined as government-issued currency not backed by an asset like gold. But a lot of fiat money is actually a bunch of loans, regulated by governments but produced by commercial banks.
- Opinion
- Chanticleer
The real message bonds are sending on stocks
Rob Almeida says equity markets should be more worried about the tepid growth rates implied by bond markets than the recent sharp jump in yields.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
Companies
- Exclusive
- BNPL
‘Bill now, pay later’ start-up Deferit banks $15m
Investors are backing a new variant on the Afterpay model that lets customers split utility, telco or childcare monthly bills into four instalments.
Iron ore miner abandons luxury property misadventure
Grange Resources has returned its focus to the booming iron ore market after it struggled to sell the luxury apartments it built during a three-year strategy digression
Freedom Foods Group posts $23.9m loss in H1
The maker of UHT milk and plant-based drinks warns on outlook after posting a statutory smaller net loss after in the first half of fiscal 2021.
- Exclusive
- Coronavirus pandemic
Joyce wins premiers’ support for border ceasefire
The Qantas chief executive has been meeting state leaders to push for a national standard on domestic borders by April
- Exclusive
- Earnings season
Invest big to ‘break away from the pack’: top CEOs
Companies must reinvest in their operations and reinvent their companies more aggressively or risk squandering the advantage handed to them by Australia’s adroit management of the pandemic.
- Opinion
- Investment banking
AMP shareholders want more detail on Ares deal
Investors gave a tentative cheer when the wealth manager announced a spin-off its private markets business, but there are still some big questions to be answered.
Investors back Fortescue’s clean energy moonshot
Having built the world’s fourth biggest iron ore business and eliminated its debts, investors say Fortescue has earned the right to take a punt on clean energy
Markets
- Opinion
- Investing
There are two kinds of people in the sharemarket right now
They are people who are in on the joke and people who aren’t, because, during bubbles, selling nonsense is a big part of the investing business.
Why the ASX is a rich target for short-selling
Hedge fund manager Adam Leitzes says the ASX is rich pickings for short sellers, reporting standards are “very loose” and companies push a “very rosy outlook” to investors.
- Exclusive
- The Sure Thing
ABS insider trader was ‘susceptible to blackmail’
Chris Hill failed an Australian government psychological evaluation before he began passing confidential information to his university friend, Lukas Kamay.
- Opinion
- Bonds
Bond market’s bull run faces a triple threat
The three key players seem to be pulling in the same direction – selling bonds – and the long-anticipated multi-year bear market for bonds may finally be here.
How markets were looking before the bell
Australian shares appear set to open higher, recouping some of Friday’s heavy losses, as the US Treasury market steadied. $A tumbles.
Opinion
AMP shareholders want more detail on Ares deal
Investors gave a tentative cheer when the wealth manager announced a spin-off its private markets business, but there are still some big questions to be answered.
Columnist
Vaccine means states should see reason on borders
As the vaccine rollout proceeds, so too must the national retreat from eliminationist state or city-wide lockdowns and border closures at the first sign of the virus.
Editorial
China’s reality check on universities
Australian universities have become overly dependent on money from international students, particularly Chinese students. Now that game is up. So what’s the alternative?
Columnist
Reforms to start budget repair should begin at homes
The federal government could make houses more affordable and save millions by cutting grants to state governments that price gouge on residential land sales.
Trade war forces universities to go global
China’s economic coercion of Australian higher education could be severe and sustained. The long-term response must be to find new international student markets in Asia, India and Africa.
End the condescension to start new era with Indonesia
Canberra either ignores or needlessly provokes Jakarta. This must stop if our vital near north neighbour is to play a bigger role in countering China in the region.
Columnist
Politics
- Exclusive
- Workplace disputes
Down $300m, Filipino port operator calls time on MUA
The company that created one of the world’s most efficient container terminals in Victoria says union demands would prevent it ever becoming profitable.
Debt cost spike puts all eyes on the RBA
Government interest costs are on track to blow out by $15 billion over the next two years because of a sudden jump in bond yields, putting pressure on the Reserve Bank to consider more aggressive interventions.
Labor backs gas as key to hitting net zero by 2050
Federal Labor has embraced the use of gas as critical to achieving net zero emissions by 2050, bringing it in line with the views of the Morrison government.
- Exclusive
- China relations
Business must wake up to China’s ‘victimisation’ game
China is trying to drag Australia into it’s broader ‘victimisation’ narrative and business must be careful not to aid that, says the government’s top China expert.
Chinese investment plunges to $1b in 2020
COVID-19, political tensions and greater scrutiny of applications are turning off Chinese investors, new data shows.
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World
- Opinion
- Working from home
The incredible shrinking office in a post-COVID-19 world
The majority of City of London employers concede a full week in the office will be a thing of the past. Not least, this will allow them to save money. Space reductions at banks will be at the steeper end of the scale, reflecting pressure from loan losses and low rates.
New Zealand business leaders surprised but not against snap Auckland lockdown
Kiwis say the mood on the ground is predominantly in support of how their political leadership is handling the pandemic.
- Analysis
- World politics
Trump’s still golden for Republicans at CPAC
In recent years, CPAC has evolved from a family reunion of Republican libertarians, social conservatives and a hawkish foreign policy establishment into Trump-chella.
Myanmar police crack down on protests for second day
Myanmar has been in chaos for a month since the army seized power and detained elected government leader Aung San Suu Kyi and much of her party leadership.
Biden says he will make announcement on Saudi Arabia on Monday
The Biden administration has faced some criticism, notably an editorial in the Washington Post, that the President should have been tougher on the Crown Prince.
Property
Hot property market smashes reserves ‘out of the park’
Buyers are taking advantage of ultra-cheap money to spend more on dwellings - such as for a Sydney home that went $800,000 over reserve. “The market is just out of control,” said one buyers’ agent. “Reserves are being smashed out of the park.”
NorthWest presses for Australian Unity fund
Partnered by Singapore’s GIC, Canada’s acquisitive NorthWest Healthcare Properties is at loggerheads with the manager of the Australian Unity Healthcare Property Trust after lobbing a $2.3b bid for the unlisted fund.
Builders, architects, insurers await Lacrosse cladding appeal ruling
A legal challenge to the 2019 judgment that hit the consultants - but not builder LU Simon - for use of combustible panels has just wound up.
Macquarie under pressure to sweeten offer for Vitalharvest
The investment bank’s real estate arm faces pressure from a rival bid – and other shareholders – to lift its bid for the agricultural property trust.
Developers get diplomatic over apartment rules
Victoria’s developers need the government more than ever right now if they are to clear their decks of unsold apartment stock.
Wealth
- Opinion
- Family finance
Bank of Mum and Dad – beware the risks
Be sensible about what you promise, especially if there are other children who will expect the same support.
How to make a knock-out bid before auction
A big spike in pre-auction sales means buyers need to be ready to make an offer the vendor can’t refuse. Experts give their tips on how to seal a deal.
- Opinion
- Sharemarket
Sony valuation ‘undemanding’ even after share gains
The multinational conglomerate is focusing on higher-margin and recurring sources of revenue, with content – music, movies and games – as the key driver.
Technology
- Exclusive
- Venture capital
Leigh Jasper returns as investor in VendorPanel funding
The Aconex founder is among a range of big-name backers of an Australian tech company that is growing in popularity across government and industry.
Facebook deals stall over ‘poison pill’ as it hints at News tab launch
Facebook is expected to launch its news product in Australia once it secures deals with publishers - but agreements are stalling over the ‘poison pill’ clause.
Call to regulate ‘cowboy’ digital marketers with code of conduct
The Small Business Ombudsman says there are too many in the digital marketing industry who are taking advantage of small businesses trying to diversify their operations online.
Work & Careers
Union, business deal means retailers avoid part-time penalties
More than a million part-time retail workers will be able to work extra shifts without the business incurring penalty rates, under a historic deal between business and the unions.
Young workers flock to apprenticeships with 100,000 new starters
The government’s Boosting Apprenticeship Commencements measure has reached its target of 100,000 commencements and there are now calls for its continuation.
Life & Luxury
- Opinion
- Review
For the posh, Bentley’s new V8 Flying Spur is woke
Bentley’s first V8 sedan saves on fuel and emissions while sacrificing neither performance nor prestige. It could just use a bit more pizazz.
Top city hotels drop prices by up to 50pc
Always fancied a room overlooking Sydney Harbour, Melbourne’s CBD or Brisbane River? There’s never been a better time to book an urban stay.
The many lives of Cold War double agent George Blake
I was beguiled when I met the notorious British spy in Moscow, but the charm wore off fast when I considered the man’s life.
‘Someone who looks like me should be on screen’: Netflix’s local content boss
Que Minh Luu’s appointment is a sign of the streamer’s desire for more Australian content – and her lunch request for a specific type of journalist signals an intent to shake up a white-bread media.
Could there be life under the seas of Saturn’s largest moon?
The eyes of humanity might be focused on Mars right now, but many scientists believe that life could exist beneath the methane oceans of Titan.
