Morrison digs in as rallies rage
Christian Porter’s decision to sue the ABC has done nothing to dampen demands for an independent inquiry into his fitness to remain in office while his MPs worry about to end the damaging issue.
Forrest willing to fund $1b green power station in NSW
The mining billionaire says he will build a $1 billion gas and hydrogen fuelled power station at Port Kembla to supply NSW with clean energy.
- Opinion
- Chanticleer
The Great Disruption comes for investment banking
Global investment bank UBS will be hard to topple from its leading positions in equity capital markets and M&A in Australia. But Barrenjoey is doing all the right things to achieve that goal.
- Opinion
- Property market
The housing bubble goes global
As central banks have slashed interest rates to historic lows, house prices in the advanced economies are rising at their fastest clip in more than a decade.
Finance industry braces for post-Greensill backlash
The supply-chain finance sector expects tougher disclosure rules and less investor and insurer support, but says SMEs will be the victims.
- Analysis
- Defamation
Christian Porter throws down the gauntlet
Porter will be in no mood to make an early settlement. Pre-trial manoeuvrings and a lengthy discovery process will mean it could take two years before the case is ready for trial.
- Opinion
- Workplace culture
PM takes shelter as women rally for justice and judgment
The Coalition’s ‘woman problem’ keeps on coming and the Prime Minister is struggling to repel condemnation of a failure of leadership and his government’s ability to listen to women.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
INVESTMENT BANKING SHAKE-UP
Australia’s lure will last only as long as its reform
Australia’s economic recovery has been a great advertisement for attracting investment and skills, but will there be enough reform to sustain it?
Immigration the missing piece of the COVID economic recovery
As long as borders remain shut, population will continue to be the missing piece of Australia’s economic recovery out of the coronavirus pandemic, writes Ronald Mizen.
Down under feels like top of the world after wild pandemic wave
Australia has fared better than most nations emerging from the pandemic with an economic contraction of 2.5 per cent, writes Tom McIlroy.
Property is booming but headwinds are looming too
At a time of pandemic and changing consumer and lifestyle habits, Australia’s $1.2-trillion commercial real estate market is keeping its head above water.
Australia awash with opportunities in energy transition
Huge investment will be required to help the world decarbonise and large-scale hydrogen has emerged as a major opportunity for Australia.
THE SURE THING PODCAST
- Exclusive
- The Sure Thing
‘You’re famous now’: the moment Chris Hill learnt of betrayal
It was only when he heard of a $7 million figure that Hill, who was in a police car after being arrested, realised the scale of the conspiracy he’d been plunged into.
Lessons from the making of The Sure Thing
Video: Angus Grigg and the University of Sydney’s professor Clinton Free on white-collar crime and the making of The Sure Thing podcast at the AFR Business Summit.
- Opinion
- The Sure Thing
How white-collar criminals sleep easy at night
A researcher who has spent the past decade in prisons across the US and Australia says there are four main ways white-collar criminals justify their actions.
- Exclusive
- The Sure Thing
Insider trader paid for $2.4m Block apartment with 25-minute trade
Lukas Kamay paid $2.375 million for an apartment from TV show The Block with a single trade that took just 25 minutes, while taunting police as they struggled to catch him.
Listen now: The Sure Thing episode 3
In one trade, Lukas Kamay took out more than $450 million of exposure to the Australian dollar and the police had no idea how to catch Kamay and his accomplice, Christopher Hill. New episodes every Monday 6am.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
Companies
UBS ‘will rebuild’ after Barrenjoey Bloody Monday
UBS has pledged to rebuild its research and investment banking team after a ‘Bloody Monday’ raid on its top analysts and traders by upstart Barrenjoey.
Rogue Greensill insurer wrote $16b of policies
The former staffer fired last year by Tokio Marine for taking on too much risk insuring securities arranged by Greensill Capital exceeded his maximum limits by $6 billion to guarantee $16 billion.
Paul Scurrah back in the driver’s seat, this time at Pacific National
The spurned Virgin Australia boss is set to take the reins at Australia’s biggest private-sector freight company.
A2 Milk says Hrdlicka must backtrack
Tensions have erupted between the infant formula player and its former CEO who now heads Virgin Australia.
Yallourn deal threatens other generators
A secret deal between EnergyAustralia and the Victorian government on Yallourn is the latest government intervention that disturbs the workings of the competitive market.
Consumer caution growing, says The Reject Shop
After benefiting from panic buying and cocooning during the pandemic, the retailer is preparing for more prudent post-JobKeeper shoppers.
- Breaking
- Mergers & acquisitions
AGL’s $2.7b Tilt deal shows keen renewables appetite
The $2.7 billion price paid by AGL’s renewable energy fund to snare Tilt Renewables against competition from multiple rivals is evidence of keen appetite for renewable energy M&A.
Markets
ASX edges up 0.1pc as banks offset tech losses
Australian shares eked out a small gain on Monday as gains for the banking and healthcare sectors offset tech losses against another surge in bond yields.
Negative equity persists despite record price increases
Even with a record-breaking surge in Sydney’s home prices, tens of thousands of households still owe more than the value of their home.
- Analysis
- Cryptocurrencies
Professional investors wrestle with bitcoin as a defensive asset
Some professional investors are concluding it’s a bigger risk not to own bitcoin than own it. After it touched a record high $US61,600 on the weekend, it traded below $US60,000 on Monday.
ASX ends slightly higher; Afterpay tumbles 4.5pc
The Australian sharemarket closed slightly higher on Monday; Australian 10-year yield jumps after US selloff; RBA’s Lowe says the recovery has a long way to go; China industrial output rises 35.1pc. Follow the latest here.
Make or break week looms for bonds
Bond investors are now hoping that this week’s FOMC meeting will result in the Fed taking a firmer stance against rising yields.
Opinion
Stirring speeches will not end sexual harassment
The promotion of a UBS executive offers a cautionary tale about the inability of the law to protect women at work.
Senior correspondent
Crossbenchers should support Omnibus IR bill
The crossbench senators should support modest reforms that would begin the task of supporting more flexible and higher-paid Australian jobs.
Editorial
PM takes shelter as women rally for justice and judgment
The Coalition’s ‘woman problem’ keeps on coming and the Prime Minister is struggling to repel condemnation of a failure of leadership and his government’s ability to listen to women.
Columnist
Australia ignores the regional vaccine vacuum at our peril
Australia’s own recovery will be under threat if COVID-19 spreads unchecked around the Pacific and southeast Asia.
Contributor
The RBA’s bond splurge has a big sting
The central bank is fixated on creating jobs, but its strategy is not enough to do that, and there could be a nasty end.
Contributor
The Quad has seen off the sceptics and it’s here to stay
An agenda of climate, vaccines and technology is hardly hawk talk. This time is it is China’s diplomacy that looks off-balance.
Contributor
Politics
Liberal survivor puts spotlight on right-wing churches
One of the last Liberal MPs left standing in WA says the party needs to review the influence of evangelical right-wing Christian churches.
End of JobKeeper a warning on border closures: Frydenberg
The cessation of JobKeeper should make the states ‘think twice’ before they rush to close their borders, Josh Frydenberg says
- Exclusive
- Cyber security
Turnbull warns on infrastructure security after 2020 ‘reality check’
The former prime minister has expanded his cyber investment portfolio, taking a stake in Dragos, which is expanding in Australia to defend energy infrastructure.
- Analysis
- Coronavirus pandemic
Vaccine rollout has Qld behind the pack again on COVID-19 response
The latest COVID-19 scare in Queensland has raised more questions about the ability of the Palaszczuk government to deal with the pandemic and the vaccine rollout.
One Nation demands faster path to permanent employment for casuals
In a move that could rope in many labour-hire firms, Malcolm Roberts is demanding the government change its IR bill so casuals can be made permanent sooner.
SPONSORED
World
How China could lose its lead in vaccine diplomacy
Vaccines are at the centre of US-China tensions as both sides race to offer developing nations access to the precious jabs.
Review of 17 million vaccine jabs shows no increased clotting risk
Australia’s multiple layers of surveillance detect risks from vaccines and, so far, there is no concern about an increased risk of blood clots with the AstraZeneca jab.
- Analysis
- US election
The Democrats’ trillion-dollar bet on the House
The Democrats are banking on their stimulus package breaking the political mould and holding their control of Congress in 2022.
China tells UK to butt out of Hong Kong
Hong Kong’s internal affairs are China’s and China’s only, Beijing has declared. The UK has no right to interfere.
Chinese factories burn in Myanmar as death toll rises
Anti-Chinese sentiment has risen since the coup, with opponents of the army takeover noting Beijing’s muted criticism compared to Western condemnation.
Property
- Exclusive
- Commercial real estate
Dexus launches merger plan for AMP Capital fund
The merger proposal adds further pressure to AMP as it races to lock in a transformative deal with New York’s Ares Management for investment into the AMP Capital platform.
Negative equity persists despite record price increases
Despite a record-breaking surge in Sydney’s home prices, tens of thousands of households still owe more than the value of their home.
‘Buyers are improving their offers by $100,000 or more overnight’
One Sydney agent says record-low rates are prompting buyers with job security to pay ‘next year’s prices’ to get in the market now.
Melbourne CBD hotel slashes asking price by $10m
Going, going, gone? Vendor Well Smart is hoping it will be a case of third time lucky after putting its Ibis Melbourne CBD property on the market.
House in Sydney’s west sells for $1m above reserve
The five-bedroom property in Mount Vernon obliterated its price guide as other buyers snapped up homes offered for the first time in more than 50 years.
Wealth
- Exclusive
- Collectibles
Pandemic revs up Aussie demand for classic cars
UK auction platform Collecting Cars facilitated $1.5 million in rare automobile sales in Australia this year, including a world record for a 1975 Porsche 930 Turbo.
- Opinion
- Bonds
Why Warren Buffett is wrong on bonds
Portfolios with the cushion of investment grade bonds have had a smoother ride of the pandemic investing journey.
QSuper, Sunsuper deal creates $200b fund
QSuper and Sunsuper have signed a heads of agreement to merge and create Australia’s second largest superannuation fund.
Technology
- Exclusive
- Cyber security
Aussie cyber chief warns business to improve its hygiene
Abigail Bradshaw, the head of the Australian Cyber Security Centre says some basic measures are not being taken as global hacking events take their toll locally.
The iPhone could be the answer to our environmental problems
Faster economic growth will do less harm to the environment than in the past, because digital innovations such as the iPhone are making the supply of goods and services less resource-intensive, says Productivity Commission chairman Michael Brennan.
Calls for algorithm audits to keep ‘unconscionable’ big tech in check
Big tech rejects calls for regulators to watch over the algorithms that watch over our every move.
Work & Careers
Why the jobs market is about to heat up
Australia is about to enter one of the hottest jobs markets in a decade, say HR experts, with new research predicting recruitment will rebound this year as pandemic-induced job cuts are reversed.
Junior doctors launch class action over unpaid overtime
Junior doctors in Victoria have filed the first of several class actions expected to claim that health providers have underpaid them millions of dollars in overtime.
Life & Luxury
How Estée Lauder’s granddaughter is powering ahead
The family face of Estée Lauder has taken the reins at the beauty powerhouse but the legendary founder remains a powerful touchstone.
Why Pilates is core to this CEO’s wellbeing
ASPL Group chief executive Kris Grant explains how such techniques can help with so much more than just physical fitness.
How to force a deal – using common sense and charm
Western Sydney Wanderers co-owner Paul Lederer explains how he dribbled his way through an ugly ‘civil war’ within the Australian soccer establishment.
Songtradr puts $US50m raising to investors
Global music rights group Songtradr is asking shareholders to help fund a chunky acquisition before making its run at the ASX-boards.
The doctors are back in charge. Here’s why.
Not so long ago, we believed the era of infectious diseases was over. After a brutal reality check, a medical doctor now runs the federal health department, and a national centre for disease control is being considered.
