- Exclusive
- China relations
Taiwan shores up allies as China threat looms
The island territory’s foreign minister backed a hardening of the Morrison government’s rhetoric towards Beijing and says it is preparing for a ‘final assault’.
Qantas offices stay put in return for state subsidies
Qantas has decided not to move any of its offices after three state governments agreed to give the airline “a range of benefits” including tax relief and tourism funding for staying put.
NAB profits spike, doubles dividend
NAB has beaten expectations with a 94 per cent increase of cash earnings to $3.343 billion and doubled the size of the first-half dividend to 60 cents.
- Live
- Markets Live
ASX to edge higher; NAB reports first half cash profit of $3.34b
The Australian sharemarket is set to extend its 14-month high on Thursday; RBA’s Guy Debelle to speak on monetary policy; NAB declared an interim dividend of 60¢ a share. Follow the latest here.
- Live
- Need to Know
Sydney on alert for renewed community spread
New South Wales awaits genome sequencing results related to a positive test on a man who lives in Sydney’s eastern suburbs. Follow updates here.
- Exclusive
- Online trading
AMP slashes platform fees to stem billion-dollar outflows
In one of his first executive decisions, AMP Australia CEO Scott Hartley has undercut the $840 billion market for platforms and slashed fees by up to 22 per cent.
Gupta shakes up Liberty boardroom amid Greensill fallout
The British metals magnate has given a four-man team carte blanche to restructure his steel empire, including selling unprofitable assets.
Companies
- Opinion
- Chanticleer
Westpac hit by Ausgrid jinx
Westpac should learn the lesson from its previous run-in with AUSTRAC and negotiate a pragmatic settlement.
- Analysis
- Regulation
Westpac’s traders and ASIC slug it out again
ASIC’s latest stoush with Westpac will once again pit the regulator’s idea of breaking the law against the bank’s idea of standard practice in risk management.
Boom-like conditions deliver ANZ ‘an embarrassment of riches’
Strong economic growth, an improved outlook for unemployment and surging national property prices have created a positive post-pandemic environment for the bank.
Gupta’s GFG signs $430m deal for Whyalla
The embattled conglomerate has been thrown a lifeline by White Oak Global Advisors to pay out debts owed to Greensill Capital on the Whyalla steelworks and Tahmoor Coal.
Indigenous backing for Rio’s Megan Clark splits proxy advisers
Indigenous groups’ high regard for the former CSIRO boss has convinced AustralianSuper to back her re-election to the board of Rio Tinto.
- Exclusive
- Western Sydney International
Western Sydney Airport looks to jump into red-hot cargo market
The new airport will open up to expressions of interest from cargo operators as it seeks to capitalise on a sector that’s booming.
Crown faces dual royal commission hearings
The WA hearings to probe the future of Crown’s casino licence in Perth will begin next week and are expected to run for three weeks, overlapping with an inquiry in Victoria.
Markets
US unicorn StockX sets up in Australia
The $4.9 billion sneaker exchange’s celebrity backers include Mark Wahlberg and Eminem, while VC funds General Atlantic and Altimeter Capital have also piled in.
Dow hits record: What happened in markets overnight
Australian shares are set to open higher, as US investors once again took advantage of a dip in the market to buy. BHP, Rio surge on copper, iron ore.
Jessica Alba’s Honest Co jumps in trading debut
Jessica Alba’s stake in her decade-old venture could be worth as much as $165 million, and said she has no plans to step back now that Honest has gone public.
Archegos prepares for insolvency: Financial Times
Archegos has hired advisers to assess the potential legal claims from banks and to plan for a possible winding down of its operations, the report said.
Deals appetite boosts hot M&A environment
Corporate executives are hinting at a run of deal-making primed to bolster the busiest start to the year on record for mergers and acquisitions around the world.
Opinion
Australia draws the China line at Taiwan
Australia has now signalled that its collective pushback to manage China includes drawing the line at the defence of Taiwan.
Editorial
Path to a lower emissions economy takes another twist
Australia’s energy market is defined by two steps forward one step back, but the direction is inevitable even if there’s no end to divisions over politics and policy.
Columnist
Budget cash splash on care? Expect to be disappointed
The Coalition now has a chance to make a real difference to care services. But they will not take it.
Contributor
Lousy demographics will not stop China’s rise
Demography will continue to shape world politics. But the historic connection between a growing and youthful population and increasing national power is giving way to something more complex.
Columnist
Investment could be the post-virus surprise
The best investment conditions in 15 years means that corporate spending could pick up where stimulus leaves off.
Contributor
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
Politics
Defence spending highest since Cold War
Australia’s increased military spending comes as the government bolsters the nation’s security in response to China’s growing power in the region.
India travel ban set for Federal Court challenge
A legal expert says the challenge by a 73-year-old Melbourne man could struggle to overturn Scott Morrison’s tough new rules.
NSW faces virus ‘wake-up call’ as feds boost GP vaccine supply
Health experts are warning of the ineffectiveness of snap lockdowns while NSW reports one new locally acquired mystery coronavirus case.
Australian cricketers in India to be moved to Maldives or Sri Lanka
Australian great Mike Hussey has tested positive for COVID-19, while a number of Australian players are isolating after the IPL was postponed.
AusPost pushes Holgate to make legal demands public
The Australia Post board has pushed back on Christine Holgate’s demands ahead of the former chief executive’s Wednesday 5pm deadline to conduct mediation.
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World
Facebook upholds ban on Donald Trump
The board’s ruling means the former US president remains blocked on the platform and Instagram for inciting the Capitol Hill riots that left six people dead.
- Opinion
- China relations
Killing Hong Kong’s free press will harm its economy
Beijing is betting expats will flock to the city despite China’s media crackdown - but business and markets thrive on news.
- Analysis
- Taiwan
Pumped-up language helps Taiwan expand its circle of friends
Fears about China means Taiwan has more international support than ever, even if the reality of an invasion remains remote.
- Opinion
- US politics
Republicans wish Liz Cheney would keep quiet
The congresswoman from Wyoming has been forthrightly saying what she believes. You could make worse decisions, and a lot of her fellow Republicans have.
India needs to prepare itself for future COVID-19 waves
A third wave is inevitable, given the high levels of circulating virus, the Indian government’s principal scientific adviser, K. VijayRaghavan, warned.
Property
Residential investors are flooding the market
Investor activity is surging everywhere as landlords chase booming prices and improving cash flow.
RBA pouring fuel on the property boom
The RBA’s decision to end the Term Funding Facility is essentially pushing forward the property boom.
Signs of recovery for inner-city apartment markets
The broader housing boom has expanded into the apartment market, lifting prices in a number of suburbs savaged by COVID.
Australian commercial property sale value well down in first quarter
Australian commercial real estate investors were increasingly beaten to the punch by foreign rivals during the first three months of 2021, with deal value down.
Mascot owners’ best hope is for $40m firesale
A repair cost of $38.5 million, which could rise further, is too much for financially strapped residents of the troubled Sydney building to take on.
Wealth
Can we put home inheritance into super?
Simple questions can often have complicated answers when it comes to making contributions to super, writes John Wasiliev.
- Opinion
- Flat Chat
Data drive leads high-rise hit squads to the usual suspects
It’s no coincidence that almost one-third of the defective apartment buildings in NSW have been okayed by the same six certifiers.
- Opinion
- Gender pay gap
Big-picture response needed to address financial inequality
Ahead of the federal budget and the women’s summit, experts are concerned the government is taking too much of a piecemeal approach to tackling the gender divide.
Technology
Uber’s bookings climb 24pc on strong growth in delivery
Uber reported that the total value of customer spending topped $25 billion, even as the number of monthly users fell short of expectations.
Tesla losing source of credit revenue that’s been key to profits
Stellantis, the auto maker formed through the merger of PSA Group and Fiat Chrysler, announced it is exiting a European emissions-credit agreement with Tesla.
Australia spent record $18.4b on software
Software producers were some of the big beneficiaries of the pandemic as COVID-19 forced companies to adapt to a rapidly digitalised world.
Work & Careers
How to make the right decision
The vast majority of ethical dilemmas do not relate to large scale fraud or stealing. They are dilemmas we all face daily in the course of our work.
Firms scramble as corporate auditor numbers plummet
The big firms are taking drastic action to ensure they keep staff amid a shortage, estimated to be in ‘the high hundreds’, that has been years in the making.
Life & Luxury
Stop pining for Italy and head to the Adelaide Hills
Once thought of as a day-trip destination, this innovative wine region is bouncing back from a traumatic 16 months with the full experience for visitors.
New Zealand’s top lodges have turned down the beds
Whether you crave luxury digs with alpine views by Lake Wānaka or an eco-rich hotel on the Auckland waterfront, the trans-Tasman bubble is calling.
How to make Mother’s Day count
Champion change to make mum proud: Draw on the inspiration of travel and cross-cultural values to help alleviate suffering, and make the world a better place.
Pandemic gets the Michael Lewis treatment
In his latest book, the author recounts how some scientists and medical professionals helped overcome the initial bungled response to the health crisis.
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.