RBA nails rates down as economy pumps
The bank upgraded its economic growth forecast to hit 4.75 per cent over 2021, up from 3.5 per cent forecast in its February statement.
Rumble of inflation runs through corporate Australia
Three ASX-listed companies used the Macquarie Australia Conference on Tuesday to highlight price increases, adding to a chorus of concern that the post-pandemic economy will run red-hot.
Industry questions federal gas power plan
The government says its NSW power plant is needed in addition to one being built by the private sector to drive down prices.
- Live
- Need to Know
Pfizer forecasts billions in vaccine sales for years to come
Pfizer on Tuesday raised its forecast for COVID-19 vaccine sales by more than 70 per cent to $US26 billion. Follow updates here.
Firms scramble as corporate auditor numbers plummet
The major auditing firms are taking drastic action to ensure they retain existing staff amid an auditor shortage, estimated to be in ‘the high hundreds’, that has been years in the making.
- Opinion
- Chanticleer
New AGL boss fears power network ‘crash landing’
Graeme Hunt, who says he’ll follow through on his predecessor’s plan to split AGL into separate carbon and non-carbon entities, also wants to help solve the grid’s stability and variability issues.
- Opinion
- Big four
Why Phil Lowe is sticking with ultra-low rates
The strong rebound in economic activity has so far failed to ignite wages growth or inflation. That means that the Reserve Bank will refrain from raising rates.
Companies
Pandemic winners pick up the pace
Eating a Domino’s pizza sitting on a Nick Scali sofa and planning a camping trip after a shopping spree at BCF makes a pandemic trifecta.
Strategy to get more women in STEM jobs falls flat
Vast amounts of money and marketing have gone into promoting the idea that women need to join the STEM workforce. But evidence suggests maybe not.
AGL Energy stands firm on demerger
Interim CEO Graeme Hunt sought to reassure investors that lenders are on board after analysts and investors questioned how the demerger could work in practice.
- Updated
- Aviation
Virgin Australia still saddled with $1.2b debt
Financial filings to the corporate regulator reveal the full scale of the airline’s strife before it was rescued from administration.
Westpac home loans face delays despite ‘renovations’
Borrowers are being forced to wait weeks before the bank picks up a file as it overhauls its approvals process.
- Opinion
- Chanticleer
Perpetual’s value pitch; Domino’s dilemma: bosses take stock
The scars - and opportunity - after a year of pandemic were clearly on display as business leaders fronted the Macquarie Australia Conference.
CBA buys Whitecoat, makes a move on health payments
The battle between CBA and NAB over business banking has become more intense, with CBA buying a health app that could challenge NAB’s health dominance via HICAPS.
Markets
Is the RBA signalling a tapered QE3?
What the RBA has said about inflation and employment has ramifications for the extent of its bond buying program.
VanEck, BetaShares in race for bitcoin ETF
VanEck and BetaShares have each lodged submissions with the ASX as they race to list the country’s first cryptocurrency-backed exchange-traded fund.
- Exclusive
- Small business
Small business showing promising signs: Xero
The latest data from Xero’s new Small Business Index showed positive results for small business in the three months to March, but the recovery is proving very uneven.
RBA nails rates down as economy pumps
The bank upgraded its economic growth forecast to hit 4.75 per cent over 2021, up from 3.5 per cent forecast in its February statement.
ASX firms 0.6pc to within 100 points of record high
The Australian sharemarket came within 100 points of hitting a record high on Tuesday after the RBA gave an upbeat assessment of the domestic recovery.
Opinion
RBA’s future moves hinge on jobs and wages
With the 0.1 per cent cash rate set to be anchored for a prolonged period, two big decisions on the RBA’s monetary tools await the bank’s board in July.
Economics editor
Why Phil Lowe is sticking with ultra-low rates
The strong rebound in economic activity has so far failed to ignite wages growth or inflation. That means that the Reserve Bank will refrain from raising rates.
Columnist
Who checks when super funds cross the line?
Industry super funds are a good example of the age-old agency problem. The Treasurer is right to call for more transparency.
Editorial
India travel ban backfires as cricketers enter fray
After jumping in head first, the Morrison government is now trying to scramble back out of a political hole over repatriation flights from India.
Columnist
Blame weather for Queensland insurance prices, not government
Insurance is expensive in northern Australia because of natural disasters, and Scott Morrison’s bailout may not help much.
Senior correspondent
The market can generate a power supply fix without state involvement
EnergyAustralia’s Tallawarra B gas plant proves the private sector can deliver cost-effective, low-emissions electricity, and why the government should step back from big stick interventions.
Contributor
Politics
Government pledges $1.2b in 24 hours, budget yet to come
The government has rolled out more than $1.2 billion on three separate measures, including $600 million to establish an agency to co-ordinate disaster relief.
ARENA tips $100m into three hydrogen projects
The Morrison government is hoping the $100 million investment in three hydrogen projects will help kickstart the industry in Australia.
Invest in growth to tame budget: economists
Think tank the Blueprint Institute says the next decade could go one of two ways: continued stagnation, or another roaring twenties.
AusPost, NBN Co bonuses not about ‘pub test’: Labor
Labor communications spokeswoman Michelle Rowland says better rules and less political interference are needed at government-owned corporations.
Fears travel ban threat will hurt trade ties with India
Despite Prime Minister Scott Morrison saying there is ‘pretty much zero’ chance Australians will be charged for flying home, the backlash has now spread to Indian-Australian business leaders.
SPONSORED
World
Byelection could put the spring back in Boris Johnson’s step
After weeks of negative headlines, the Tory leader may get a chance on Thursday to remind his party of his vote-winning skills in former Labour heartlands.
Divorce opens gates for $160b question
The divorce announcement by Bill and Melinda Gates may have repercussions for the Gates Foundation, and the $US5 billion it gives away every year.
At least 20 dead after rail overpass collapses in Mexico City
At least 15 people have been killed and 70 hurt after a Mexico City overpass carrying metro train cars partially collapsed onto a road on Monday night.
Australians in the thick of it as Biden’s infrastructure plans heat up
A challenge to a huge Australian-led project to expand one of America’s most congested freeway systems shines a spotlight on US infrastructure investment risks.
Buffett, at 90, still puts his money where his mouth is
Berkshire’s unwillingness to virtue-signal when it comes to climate change may irritate some shareholders, but the way it votes with its wallet is more significant.
Property
- Exclusive
- Rural property
Non-bank fund to cater for farming demand
Merricks Capital CEO Adrian Redlich says demand for debt funding from the farming sector far exceeds supply amid a flood of private equity into agriculture.
Sydney asking prices spike 6.1pc in four weeks
Higher vendor asking prices could lead to higher prices in the June quarter compared to the first three months of the year, despite a flood of new listings.
- Exclusive
- Office
Cromwell buys in Brisbane and on the hunt for more properties
Brisbane’s CBD office market has recorded another big sale, with Cromwell Property Group paying almost $120 million for 545 Queen Street.
Investor surge brings macroprudential clouds back over housing market
Surging investor lending pushed new mortgage commitments to a record $30.2 billion in March, new Australian Bureau of Statistics data shows.
- Exclusive
- Office
Archer Capital finds its mark with $14.6m office sale
The private equity firm has sold the boutique harbour-view offices it has owned since 2004 at a hefty rate of over $16,000 per square metre.
Wealth
- Opinion
- SMSFs
COVID-19 can kill DIY super funds
If the pandemic is keeping you from Australia, take steps to ensure your SMSF does not lose its tax concessions.
Lender crackdowns costing property buyers their deposits
Sloppy property deals can land you in court and cost you your deposit and legal fees.
- Opinion
- Aged care
Many definitions of ‘couple’ for aged care rules
Determining whether two people are assessed as a member of a couple is not always straightforward due to varying relationship arrangements.
Technology
Nine boss fires shot at Foxtel in sports streaming wars
Nine Entertainment CEO Mike Sneesby has praised the success of Stan, the business he has nurtured from a start-up to a key player in Australia’s TV streaming wars.
- Opinion
- Review
The verdict is in on the Apple AirTag
We’re excited to find something that works so well, and at the same time a little concerned Apple’s AirTags might work too well.
- Exclusive
- Funding
SafetyCulture cracks $2b valuation with huge funding round
The Aussie workplace safety and operations software scale-up has more than doubled its value after one of the year’s biggest investments in the country.
Work & Careers
Strategy to get more women in STEM jobs falls flat
Vast amounts of money and marketing have gone into promoting the idea that women need to join the STEM workforce. But evidence suggests maybe not.
Loan fee on vocational courses a hex on economic growth
Students who choose not to study at a university get hit with a 20 per cent charge on top of their unsubsidised fees which is both unfair and bad for the economy.
Life & Luxury
Melbourne’s newest hotel is a time machine to the ’70s
With its retro glamour, the new 123-room Ovolo South Yarra lets you luxuriate – or party – like a rockstar.
- Opinion
- Cars
Porsche delivers world’s first electric station wagon
The entry-level Taycan 4 Cross Turismo can handle off-road terrain and is a better buy than its far more expensive top-of-the-range sibling.
- Opinion
- Review
The verdict is in on the Apple AirTag
We’re excited to find something that works so well, and at the same time a little concerned Apple’s AirTags might work too well.
This surfing property specialist had a scary encounter
Scott O’Neill, founder of Rethink Investing, says he likes ‘a random little surf on a nice day, somewhere not too crowded’, but it has got hairy in the past.
Eleven Madison Park goes vegan because beef is ‘gluttony’
Inspired by climate change, the acclaimed New York restaurant’s menu will still cost $US335, but chef Daniel Humm says there will be cow’s milk for your coffee.
