- Live
- Need to Know
Eastern states look to resume Indian flights
Scott Morrison says NSW, Victoria and Queensland will look to allow flights from India relatively soon, watch live; NSW recorded no new locally acquired coronavirus cases; Victoria eases density rule for pubs, bars and restaurants. Follow the latest here.
RBA watching ‘unusually large’ household savings
The extent to which households deploy their savings will determine whether the Reserve Bank is forced into an earlier than expected tightening of monetary policy.
- Opinion
- Chanticleer
Macquarie cashes in on volatility
Nick O’Kane, Macquarie’s commodities and global markets head, earned more than any executive has at the group as his division helped generate a record profit.
Ground zero of Mayfair 101’s fantasy island
Two years ago, Mayfair touted plans for a $1.6 billion tourism mecca, but now offices are empty and property sellers are picking up the pieces following the investment outfit’s collapse.
- Opinion
- Chanticleer
Banking’s once-in-a-generation reset
The pandemic allowed the banks to reset their reputation, capital positions and cost base, and created a surge in demand. But COVID-19 also leaves a big problem.
- Live
- Markets Live
ASX rises; border closures led to labour shortages, RBA says
The Australian sharemarket rises; another bad day for Aussie tech stocks; iron ore prices have risen above $US200 a tonne for the first time ever; RBA releases its Statement on Monetary Policy. Follow the latest here.
Ardern supercharges union power in IR overhaul
New Zealand’s Labour government has announced a radical overhaul of labour laws that places centralised wage bargaining back at the heart of industrial relations law.
Companies
Macquarie delivers record $3b annual profit
Australia’s premier investment bank also announces a green transformation of net zero emissions by 2025 and has pledged its financing operations comply with global emissions goals by 2050.
AI cash splash way too short: industry
On the surface, a new $124 million investment in AI looks like a lot, but spread over six years, the tech sector says it is at least $126 million short.
Lithium giant says WA ‘labour crisis’ is holding back mining
Battery metals giant Albemarle points to labour shortages as a hurdle to re-starting mines and speeding up construction work in WA to supply resurgent lithium markets.
- Exclusive
- Startups
Big bank-backed Data Republic collapses
ANZ, NAB and Singtel Innov8-backed data sharing start-up Data Republic has been placed in voluntary administration, but administrators are quietly hopeful a buyer will emerge.
- Opinion
- Chanticleer
Atlassian’s one big lesson from COVID-19
As a global tech company, it provides a case study of how to attract and keep the best software engineers. Spoiler alert: COVID-19 has made it easier.
NBN Co on track to hit FY21 targets
NBN Co posted $3.5 billion of revenue in the nine months to the end of March – a more than 20 per cent surge on the prior corresponding period.
Real estate business drives growth at News Corp
As the media company reports a boost in earnings in the third quarter, chief executive Robert Thomson has struck back at Stan Sport.
Markets
Rio says China has few iron ore alternatives, for now
Fresh diplomatic tensions between Australia and China convinced some traders to panic buy iron ore, but Rio says China has few short term alternatives.
Wylie predicts profound shift in capital markets
With a rise in superannuation on the horizon, John Wylie expects that funds in his Tanarra Capital will double to more than $4 billion.
Buffett’s Berkshire nears Nasdaq’s share price limit of $US429,496
The Class A stock of Warren Buffett’s Berkshire Hathaway is trading just below the maximum allowed and the index is rushing to fix the problem.
Iron ore resets record high above $US200 a tonne
China’s seemingly endless demand for steel, and rising tensions with Australia, helped drive the price of iron ore more than 5 per cent higher on Wednesday.
From Archegos to crypto, new Wall Street cop signals clamp down
Wall Street’s new overseer confirmed he won’t back down from tough battles with the financial industry as he laid out an agenda for increased regulation.
Opinion
Can’t beat the border populists, so the PM has joined them
The India travel ban shows the government has given in to the hardline approach of state premiers. Not because it is necessarily right, but because it is politically popular.
Political editor
Australians need clarity on war or peace
A formal annual threat assessment from the government is better than the shapeless war talk voters are getting at the moment.
Contributor
Make quarantine fit to return the stranded and open border
The India travel ban controversy must put large dedicated quarantine facilities on the table so expat Australians, then students, tourists and skilled labour can be brought back.
Editorial
It’s raining money for banks and budget
Bank CEOs lined up to report vastly improved results thanks to a surging economy ahead of Josh Frydenberg’s budget next week. What else does the Treasurer want to achieve?
Columnist
Modern Libs don’t believe what Peacock did
In 1990, Andrew Peacock promised tax cuts and smaller government. Now the Morrison government’s budget could just as well be delivered by a Labor government.
Columnist
Why Lex Greensill should have read Machiavelli on the Medici
The failed prince of supply-chain financing and his credulous creditors should have heeded the cautionary lessons of medieval banking about the dangers of mixing finance with politics.
Contributor
Politics
India repatriation flights planned
Scott Morrison says the travel ban has worked, but no decision has been made on the resumption of commercial flights.
Australia well-placed to benefit from green energy supply shortages
The nation is a leading supplier of key metals required for the transition, but there’s a gap between what world leaders promise and what companies can provide.
Mystery Sydney cases trigger restrictions, burst NZ bubble
New Zealand will pause flights from NSW from 11.59pm on Thursday as Kiwis wait for health officials to find the mystery link behind two new cases in Sydney.
PM urges reform as NDIS price tag to hit $26b and rising
Scott Morrison has warned the future of the NDIS is at stake unless its costs are reined in.
Cabinet signs off on plan to fly Australians home from India
Australia will begin flying its stranded citizens home from India as soon as the travel ban lifts on May 15 with passengers expected to quarantine in Howard Springs.
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World
Why Europe is struggling to make a call on China’s rise
As Joe Biden and Scott Morrison look to Europe for support in the contest with China, they face a Continent battling to speak with a single voice.
China payback kills dialogue
The country’s top economic planner said it had ‘indefinitely suspended’ its high-level fiscal talks with Australia, amid escalating tensions.
UK sends Royal Navy to Jersey after French fishing threats
Deployment of the ships marks an intensification of the spat between two NATO allies and is a sign of the ongoing friction caused by Britain’s departure from the EU.
G7 COVID case a warning for Olympics, other big events
Not all infected people shed the virus all the time so testing before and during international gatherings has its limits.
US backs giving poorer countries access to COVID-19 vaccine patents
Drug companies warned that President Biden’s unprecedented step would undermine their response to the pandemic and compromise safety.
Property
Grant Hackett’s luxe villa on ‘Millionaires’ Row’ sells in five days
The former Olympian’s plush beachfront holiday home in the prestigious Gold Coast suburb of Mermaid Beach was snapped up for $2.625 million.
Housing boom propels market beyond $8trn
The total value of Australia’s residential real estate has soared past the $8 trillion mark for the first time.
High house prices not our problem: RBA
The RBA will not intervene to curtail house prices, with the bank’s deputy governor arguing other tools were available to governments to address equity issues.
Rent collection back on track at Westfield
The roughly $200 million that Westfield operator Scentre gathered each month this year is in line with the monthly amount it was collecting in January and February last year, before the pandemic hit.
Marriott looks to stamp its mark at Sydney Airport
Marriott development director Richard Crawford is confident accommodation demand at the airport will return to pre-pandemic levels by 2023.
Wealth
- Opinion
- Cryptocurrencies
Digital coins have a climate challenge
Whether mining cryptocurrencies or fossil fuels, climate damage must come at a price.
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.
Technology
US giant set to join streaming wars
A new streaming player will enter the crowded entertainment market in August, when ViacomCBS rebadges 10 All Access as Paramount+.
Gaming industry tax offset brings standards in line with film, TV
The local gaming industry has welcomed an new 30 per cent tax offset, but points out that the growing sector extends far beyond just game makers.
Tech sector seeks more from PM’s digital push
The devil will be in the detail of the government’s new tax write-offs for software investments.
Work & Careers
The untold story of how Jeff Bezos beat the tabloids
When a gossip rag went after the Amazon CEO, he responded with the brutal efficiency he used to build his business.
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.
Life & Luxury
Why you’re intrigued when billionaires’ marriages fail
If the Gateses can’t make a marriage work, what hope is there for everyone else? It’s comforting to know relationships are difficult, no matter who you are.
Seduced by the truffles of the Tamar
Launceston’s acclaimed Stillwater Restaurant is offering a new experience for visitors to enjoy the pricey but pungent delicacies.
How lockdown turned author Ian Rankin into a jigsaw fiend
For someone whose day job is crafting intricate plots full of interlocking clues, puzzles seem to be a natural pastime.
Analiese Gregory - leader of the Tasmanian rat pack
The poster child for hunter-gatherers is among the ‘generation next’ chefs and winemakers under 40 cementing Tasmania’s reputation as a foodie’s paradise.
Which cruise is best for you this year?
As people continue to holiday at home, virtually all high-end cruise lines are preparing to sail into Australian waters.
