- Live
- Need to Know
More than $452m to fix flaws in aged care
The Prime Minister is speaking after the release of the final report into the inquiry into aged care. Donald Trump wants money for another presidential campaign; the Greens are urging Mr Morrison to act on an old rape claim. Follow updates here.
RBA doubles daily bond buying to $4b
The Reserve Bank has doubled the size of its daily quantiative easing program announcing it would increase bond purchases from $2 billion to $4 billion.
- Live
- Markets Live
ASX advances 1.5pc; RBA to buy $4b of bonds, yields tumble
The Australian sharemarket is trading firmly higher; Aussie bond yields tumble; Freedom Foods narrows net loss; John Poynton exits Crown board; Fortescue, Aurizon trade ex-dividend; home loans soar in January; inventories, company profits fall short of expectations in Q4.
Barrenjoey poaches ANZ credit trading head
Upstart Barrenjoey Capital Partners has snapped up one of the country’s top credit traders to run its bond trading platform.
‘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.
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.
Woodside puts Myanmar operations on hold
Woodside’s decision to put future business decisions in Myanmar under review have left investors unruffled but pose questions around long-term gas supply in the country.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
Companies
Thousands of cabbies to come off the couch as JobKeeper ends
The boss of the group overseeing Australia’s biggest taxi network says the end of JobKeeper will be a catalyst for extra activity.
GWA boss resigns, surprising market and board
Chairman says company retains strong management, after CEO leaves a job that earned him $1.7m last year.
- 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.
- Opinion
- Chanticleer
NAB chairman: boards must push executives harder
Phil Chronican says bold strategy and investment is needed from companies that want to break away from the pack in a post-pandemic world. Governments can help this in five ways.
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
Markets
- Analysis
- Biotech
Mesoblast takes shareholders to last chance saloon
Shares in Mesoblast are suspended as its auditor warns of material uncertainty around its solvency if it cannot secure new sources of funding.
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.
- 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.
- Opinion
- Chanticleer
Buffett’s struggle with self-awareness
In his latest investor missive, Warren Buffett chides investors sucked in by “story” stocks. But the letter plays up to Berkshire Hathaway’s own folksy tale.
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.
Opinion
Why I stopped worrying and learned to love crypto
What can you do to protect against the real risk to savings when every country is printing currency as fast as the presses will go?
Contributor
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.
Politics
Job ads surge, highest since 2018
Job advertisements are up to their highest level since 2018, while business conditions point to strong GDP in the December quarter.
Diplomats, defence staff to receive vaccine jabs before travel
Labor says the Coalition has failed diplomatic and defence staff posted overseas, including many facing long delays to return home.
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.
- 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.
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World
At least 18 protesters killed in Myanmar in worst violence since coup
Crowds of demonstrators came under fire in various parts of the biggest city of Yangon after stun grenades, tear gas and shots in the air failed to break up their protests.
- 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.
Property
‘An eyesore’: High-profile opponents slam Dexus $2b Brisbane tower
The proposed $2 billion redevelopment of Eagle Street Pier in Brisbane’s CBD has ruffled some feathers of some well-known local residents.
Will home working sink city centre economies?
The flexible working trend may be here to stay as companies count the cost of maintaining city real estate. But making drastic decisions about office reductions during a pandemic could also be too hasty.
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.
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
If you don’t crash, you’re not trying, says bike-mad boss
Barco managing director Claudio Cardile owned six motorbikes last year; now he’s down to two. He says riding up to 800 kilometres a week is his meditation.
- Opinion
- Food & drink
How the new McDonald’s chicken sandwich ranks against rivals
The much-heralded offering from the Golden Arches turned out to be our least favourite of the bunch. Here’s why.
Monet, Renoir set to draw NGV crowds
The National Gallery of Victoria is turning to French art legends Monet, Degas and Renoir for a major winter exhibition the gallery hopes will bring back big crowds.
- 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 pizzazz.
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.
