G7 tax deal pressures 30pc company rate
Business has urged the Morrison government to cut Australia’s 30 per cent company tax rate after the world’s biggest developed economies agreed to a global minimum corporate tax rate of 15 per cent.
Business demands end to Vic lockdown and ‘doomsday’ prophesies
Business groups are demanding an immediate exit strategy for Victoria’s 14-day lockdown after only a handful of new coronavirus cases on Sunday.
House rents grow through pandemic while apartment returns collapse
Houses have been the best performers for investors with rent rises in all markets except Melbourne through COVID-19 while unit rents have fallen in key cities.
Power prices surge 60pc following Callide outage
Spiking power prices over the past few weeks have reversed a collapse seen over the past 12 months – and fuelled suspicions among some industrial energy users of generator super-profits.
Investors prepare to lose central bank support
The Reserve Bank of Australia could be the next to taper, a move that could benefit the bank and miner-dominated local sharemarket.
APEC ministers agree to reform the WTO
Regional trade ministers have thrown their support behind an urgent overhaul of the World Trade Organisation. The meeting also agreed to slash tariffs on coronavirus vaccines.
USS Canberra a shiny new symbol of US-Australia relations
A new symbol of the US-Australian military alliance was christened at the weekend.
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BOOM ON THE LAND
Why investors are beating a path to the agricultural sector
A record in agricultural production is forecast for this year, just shy of $66 billion. It’s a combination of bumper harvests and, even more so, strong prices.
Big money goes nuts for almond orchards and other farmland assets
From cattle stations to almond orchards and timber plantations, institutional capital is ready to invest.
All cashed up with nowhere to go, wealthy buyers target rural trophies
Across the country, the pandemic has prompted a run on trophy homes and properties in regional areas by well-heeled city dwellers.
Wine companies face biggest battle after China hit
Barley growers are doing a solid job diversifying away from China but it’s a tougher ask for wineries with $1.3b vanishing.
The ebbs and flows of the water market explained
Water is a big, complex market in Australia and, like in other sectors, the price responds to the imperatives of supply and demand.
Companies
Rio’s Wyatt appointment disappoints native title group
A native title group whose lands host six Rio Tinto iron ore mines was disappointed by Rio Tinto’s decision to make Ben Wyatt a director.
- Exclusive
- Global economy
Why the world’s pension funds have discovered Indonesia
Veteran banker Ridha Wirakusumah says backing by two global institutional investors has generated interest in Indonesia’s new sovereign wealth fund.
Rio’s Indigenous trailblazer accuses green groups of exploitation
Former WA treasurer Ben Wyatt has blasted conservationists and activist investor groups he says are trying to exploit Aboriginal culture for their own agendas.
- Opinion
- Chanticleer
Three in four insider traders get away with it
Insider trading is an insidious illegal activity that saps investor confidence in free and fair markets. A new study finds it is much worse than prosecutions would suggest.
Oil and gas set to deliver profitable last gasp
Rapidly escalating ESG concerns are among factors that have rapidly shrunk capital available for oil investment worldwide, pointing to higher prices as demand continues.
Crown spent $2.5b on marketing, $1.9m on problem gamblers
Responsible gambling is a central issue in the royal commission looking into Crown’s suitability to hold Victoria’s sole casino licence.
Taxpayers prop up Genex Power’s pumped hydro project
Genex Power’s Kidston pumped hydro project is loved by the clean energy sector, but it’s been taxpayers dollars that have helped it across the line.
Companies in the News
Commonwealth Bank
Macquarie Group
National Australia Bank
Nine Entertainment
Updated: Jun 4, 2021 – 4.38pm. Data is 20 mins delayed.
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Markets
Investors prepare to lose central bank support
The Reserve Bank of Australia could be the next to taper, a move that could benefit the bank and miner-dominated local sharemarket.
- Opinion
- Investing
Post-pandemic shortages create buying opportunities
Buying opportunities await for stocks who sell-off on the back of missed production targets and earnings disappointments due to temporary supply shocks.
Tech drives Wall Street higher as jobs data calms inflation fears
The three major US equity benchmarks ended a positive week on a high note as the labour market’s recovery slowed, bolstering the Fed’s patient policy stance.
Australia’s economy overtakes Brazil, nears Russia’s
Australia’s economy is now larger than Brazil’s and could overtake Russia after surging iron ore prices helped lift the nominal national output of goods and services to a six-year high.
Stocks to deliver the best year in a decade
The tub-thumping rally in Australian shares has prompted equity analysts to ramp up their forecasts for the year.
Opinion
Pell contempt case shows courts must adapt to digital age
If the courts just continuing to punish the owners of the printing presses, their frustrations with modern communications technology will just undermine the administration of justice.
Editorial
Strategist saw through foreign policy myths in era of change
The late Neville Meaney’s warning not to let cultural loyalties cloud the pursuit of national interest remains of vital importance to determining Australia’s role in the world.
Columnist
Rooftop solar is a populist Frankenstein
The bright idea of turning roofs into mini-power stations has become a monster destabilising the grid.
Contributor
Too much disclosure is not in super members’ interests
The portfolio holdings disclosure required of superannuation funds under Your Future, Your Super is well intended, but poorly designed.
Contributor
A government that isn’t really in control of anything
The past two weeks of Parliament are not consistent with the Morrison government’s strategy of winning an election based on its excellent management of the pandemic.
Columnist
In Canberra, Daniel Andrews’ government is now a protected species
Scott Morrison’s refusal to criticise Victoria reflects his discipline as a political leader and strategy for winning the federal election, Aaron Patrick writes.
Senior correspondent
Politics
Victoria to receive 100,000 extra Pfizer vaccines
Health Minister Greg Hunt says the federal government will send extra Pfizer jabs to Victoria; Victoria’s two new cases are all linked to known outbreaks; tourism operators to receive a $32.2 million package. Follow live updates here.
- Analysis
- Australian economy
Why this economic recovery is different
Incredibly, during the COVID-19 recession, household incomes rose and business profits increased, leaving consumers and companies well placed to drive the next phase of the economic recovery, writes John Kehoe.
Palmer seeks to derail criminal cases, again
The billionaire has launched another attempt to stymie a criminal case brought by the corporate regulator after appeals were thrown out by the court.
Melbourne outbreak takes a dangerous turn with mystery mutant cases
New research suggests the appearance of the delta variant in Melbourne could result in a doubling of hospitalisation rates.
Higgins rape report reveals 38 new allegations against MPs
A report sparked by Brittany Higgins’ rape allegations has found a culture of “minimising, normalising and keeping quiet” bad behaviour at Parliament.
SPONSORED
World
- Analysis
- Coronavirus pandemic
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Fauci under siege over lab leak theory
“America’s doctor” is facing calls to resign and criticism from the right over his insistence that the pandemic probably has its roots in wild animals, rather than a Chinese lab.
Israel security warns of violence as Netanyahu faces ouster
Some right-wing groups are angry at Naftali Bennett, head of a small ultra-nationalist party who is slated to replace the prime minister in a power-sharing pact.
- Opinion
- Ageing
China’s declining birthrate won’t hurt its growth
Demographics have already stopped contributing to China’s economic growth. The labour force has been declining since 2012 and is now 40 million fewer than a decade ago.
Ireland confident G7 tax deal won’t dent multinational investment
Finance minister Paschal Donohoe said companies such as Apple had been in Ireland for decades and were among its largest employers.
Yellen tells G7 to keep spending, says inflation will pass
US Treasury Secretary Janet Yellen said US inflation this year would be elevated but transitory. She urged rich nations to invest in a fight against climate change and inequality.
Property
Industrial landlords, property investors face land tax hike in NSW
The red hot industrial and residential property markets will come at a cost for owners in NSW as increased official land values will trigger land tax rises.
Tenant portal Equiem gets Lincoln Property Company investment
The large US office owner and manager sees the Australia-founded tenant portal as a key part of its return-to-office push.
Tiverton to reap rewards of regeneration at Picardy
Acquired for $27 million four years ago, the 10,000-hectare Queensland run could fetch as much as $60 million after its conversion to cropping under Tiverton’s strategy.
Investors extend lead over first home buyers
Investment borrowing levels are not back to the highs that last prompted macroprudential action, but economists say regulators are watching closely.
First look inside the Badgerys Creek airport terminal
Brookfield-owned Multiplex has won the plum job of building a passenger terminal at the new Western Sydney International Airport.
Wealth
- Opinion
- Flat Chat
Green means go for well-run unit blocks
How investing in sustainability can make perfect sense for your property portfolio.
- Opinion
- Sharemarket
Barclays has further to go in post-pandemic revival
Further reserves releases will lift profits and allow the prospect of higher capital returns from dividends and share repurchases.
How to stop a property seller from tricking you into paying more
Just because you’ve signed the paperwork doesn’t mean the deal is sealed.
Technology
- Opinion
- Mergers & acquisitions
How Airtasker ended up buying a movie star-backed former tech darling
Zaarly was once a genuine tech darling, a marketplace that caught the attention of big name investors and Hollywood stars. In May Airtasker bought it for just $3.4 million.
Twitter chooses Australia to try out new paid service
The social media platform wants users to pay $4.49 a month to access special features and perks.
Optus Sport secures FIFA 2023 Women’s World Cup
The telco will stream all 64 World Cup matches live and wants to partner with a free-to-air network to co-broadcast all Matildas matches.
Work & Careers
- Exclusive
- University
Charles Sturt University under scrutiny from regulator
The beleaguered Charles Sturt University was given unprecedented dispensation from publishing its annual report, sparking speculation the institution’s finances and operations are in crisis.
Why it’s ‘Roll Over Beethoven’ for unis to cover costs
Universities around the world are in trouble and have a more insidious chronic ailment to deal with, often known as Baumol’s cost disease.
Life & Luxury
The message from Fashion Week: get up, get dressed, go out
It’s time to get dressed up again – big, bold fashion is in again.
Portrait of previous winner takes out Archibald Prize
Peter Wegner has won the $100,000 portraiture prize with a subject born in the same year it was first awarded.
German Film Festival swings from dark intensity to romance
For fans of German cinema it will be no surprise there are few laughs to be had from the 30 films in this year’s selection, but there are rewards to be had.
John Olsen’s vision blazes brightly in new exhibition
Works not seen in public for decades will be on show at a major exhibition by the 93-year-old artist.
Archie 100 paints alternative portrait of the Archibald Prize
A new exhibition argues the most interesting Archibald Prize entries weren’t always the winners.
