Berejiklian: brace for much worse
Premier Gladys Berejiklian said she would be ‘shocked’ if there were fewer than 100 cases on Monday, after NSW’s highest daily caseload since April last year.
- Live
- Markets Live
ASX to rebound; Wall St hits record high
The ASX is set to bounce back from Friday’s sell-off; all three major indices on Wall St hit record highs; China cuts Reserve Requirement Ratios by 50bps. Follow the latest here.
- Live
- Need to Know
Sydney braced for 100 cases, Victoria closes border
Another 27 exposure sites added overnight in Sydney while Victoria closed its border to residents of NSW and the ACT on Sunday night. Follow updates here.
Jennison’s Mark Baribeau on the art of growth investing
Jennison Associates’ head of equities is sticking with growth stocks, including Tesla, which he remains convinced will be the winners in the long run.
Yawning solar price gap slows growth
Large discounts of up to $40 a megawatt-hour have opened up between prices during hours when solar power is generating and the rest of the day.
- Opinion
- Coronavirus pandemic
Feds stump up for desperate NSW
With NSW reeling from the growing number of infections and restrictions, Canberra will open its purse strings to avoid even greater damage to the economy – and itself.
- Opinion
- Crown royal commission
Writing is on the wall for Coonan
Crown Resorts will probably offer up some corporate scalps now that it realises there is a huge risk it will be found unfit to operate its Melbourne casino.
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Companies
ACCC to cast eagle eye over Sydney Airport bid
The competition watchdog will closely scrutinise a $22 billion takeover plan for Australia’s biggest airport, including who would make decisions if a consortium assumes control.
China rides on our sheep’s back
There’s an Australian export which is being warmly welcomed in the Chinese market. And it’s not iron ore.
Airlines fear ‘gouging’ if Sydney Airport bid succeeds
The consortium that made the $22 billion takeover proposal has pitched it as a great deal for “Sydney and the travelling public”. Airlines beg to differ.
Big four banks shut 350 branches during virus crisis
Banks are closing more than three branches each week as foot traffic plummets and customers go online.
Chris Janz announces departure from Nine
Nine chief publishing and digital officer Chris Janz is departing the media company four months after he missed out on the top job to rival former Stan boss Mike Sneesby.
WineDepot Market poised to disrupt wine distribution
Digital Wine Ventures’ WineDepot Market promises to revolutionise the way wine is sold and shipped by connecting producers directly with trade buyers.
Click Frenzy owner bulks up ahead of IPO
Global Marketplace, which owns Click Frenzy and Power Retail, is close to buying another e-commerce business and has strengthened its board ahead of an IPO next year.
Companies in the News
Sydney Airport
Crown Resorts
Westpac Banking Corporation
Updated: Jul 9, 2021 – 4.27pm. Data is 20 mins delayed.
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Markets
Coronavirus returns to haunt markets
The prospect of a lengthening Sydney lockdown has cast uncertainty over Australia’s economic rebound and the outlook for corporate earnings and guidance.
How markets were looking before the bell
Australian shares are looking positive after a volatile week of sell-offs that ended in US stocks rallying to close at record highs.
Jennison’s Mark Baribeau on the art of growth investing
Jennison Associates’ head of equities is sticking with growth stocks, including Tesla, which he remains convinced will be the winners in the long run.
Mega-cap tech stocks roar back into vogue
Investors are getting excited about big tech again amid resurgent doubts about the strength of the post-pandemic boom.
- Opinion
- Sharemarket
M&A is the new black
The wave of M&A activity is encouragement to investors to be agile and find unloved businesses with enduring business models, household brands and irreplaceable assets, writes Jun Bei Liu.
Opinion
Assertive China has misunderstood Australia’s toughness
Beijing thought we could be bullied because it has mistaken the pseudo-intellectual bourgeois left support for an ‘independent’ foreign policy for mainstream attitudes.
Columnist
Nationals’ climate populism repeats history
Barnaby Joyce’s blue-collar populism risks undermining the opportunity for agriculture and farmers to profit from the shift to a much lower-carbon economy.
Editorial
Demonising the AstraZeneca jab could cost ethnic lives
If preventable deaths occur in south-west Sydney, blame the recklessness of health and political authorities that have undermined confidence in a life-saving vaccine, writes Tanveer Ahmed.
Contributor
All Australians are better off with immigration
RBA governor Philip Lowe’s comments on immigration should not be misread. It’s a furphy that migrant workers bring down wages.
Editorial
Barty’s Australia’s down-to-earth world beater
In pure sporting terms, Ash Barty’s Wimbledon victory may be the greater achievement than Evonne Goolagong Cawley’s historic first title in 1971.
Editorial
There is no wages case for a permanent cut to immigration
RBA governor Philip Lowe makes a reasonable point about the short-term suppression of wages in some industries. But long-run evidence shows migration lifts demand for workers.
Contributor
Politics
- Exclusive
- Coronavirus pandemic
Freight pressures to hit consumers at Christmas peak
The Morrison government is considering extending its $780 million freight assistance program as experts warn key imports could be delayed or prices raised.
Melbourne, Sydney CBDs will need four years to recover from lockdown
Sydney and Melbourne CBDs will take four years or more to pass their pre-pandemic economic levels, analysis by Deloitte Access Economics has found.
Sydney lockdown cost forecast to tip $7 billion
Sydney’s lockdown is costing $150 million a day in lost economic activity and could wipe as much as $7 billion from GDP.
Business pushes for China travel bubble, student returns
Business chiefs in Asia warn a fortress mentality is undermining Australia’s interests in the region as they call for a China travel bubble and a plan to allow foreign students to return.
Australia increasingly reliant on China’s demand for iron ore
China accounted for more than 40 per cent of Australian goods shipped in May, on the back on record demand for iron ore.
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World
TikTok video shows woman on American Airlines plane duct-taped to seat
The passenger tried to exit the plane mid-flight and attacked flight attendants, the airline said after the footage went viral.
Vaccinated but still isolated: China’s new virus challenge
There are striking similarities between Beijing and Canberra in the fight against the pandemic, but concerns about home-grown Chinese vaccines are growing.
Europe sweats on blueprint for turning hot air into climate action
In the absence of a clear road map from nations such as the UK, the EU will this week test the waters with new climate measures.
- Opinion
- World politics
US key to healing rift between Japan and South Korea
A new president in Washington offers the best hope for a change in long-frozen relations between two Asian economic powerhouses.
Barty party on Wimbledon centre court as Ash lives the dream
Two weeks ago Ash Barty wasn’t sure she would be able to play Wimbledon. Now she’s lifted the trophy, becoming the first Australian female winner since Evonne Goolagong Cawley.
Property
Elon Musk lives in a tiny home that costs less than a Tesla
You’d be forgiven for thinking the CEO isn’t one of the richest people in the world, because he now lives in a box he calls ‘kinda awesome’. Take a look.
- Analysis
- Build-to-rent
Lendlease’s London lament could swing towards Macquarie’s upbeat tune
Institutional investors are increasingly taking on the role of London landlords as they march into Britain’s neglected build-to-rent sector.
Coal-fired land sale set to net Shenhua more than $120m
The controversial landholdings of Shenhua Watermark Coal near Gunnedah are up for sale with more than $120m expected for the prime agricultural land.
Mining towns miss out on the housing boom
Despite the broad-based housing boom, 131 house markets and 210 unit markets have ended the financial year with double-digit drops in values.
Healthcare asset sales surge as REITs increase exposure
The hunt for alternative assets by big property has completely changed the healthcare real estate dynamic, turbocharging the once sleepy sector.
Wealth
- Opinion
- Sharemarket
Ways to profit from the law
Three options for investors seeking exposure to a key area in the services market.
- Exclusive
- Health insurance
Big earners shun health funds despite tax slug
A third of high income earners could save money by taking out health insurance but don’t, a new survey has found.
Buy, hold, sell: Four winning ETFs from FY21
ETFs were some of the strongest performers in FY21. Two fund managers analyse which to buy, hold and sell.
Technology
- Exclusive
- Funding
Australia’s richest families back brain mapping software company
Omniscient Neurotechnology has raised $40 million in series B financing from wealthy individuals, including Will Vicars and Gina Rinehart.
Space accelerator Moonshot receives matched-government grant
Heavy-hitting space investors have matched a federal government grant to help Moonshot boost local space-start-ups.
Billionaires take the ultimate gamble in space
Virgin’s Richard Branson will beat fellow billionaire and space tourism true believer Jeff Bezos into space by nine days, if all goes to plan. Both are risking more than their lives.
Work & Careers
Maersk ships targeted as port strikes escalate
Ships will be blocked from bringing supplies to Australia due to a series of 24-hour strikes at major ports across the country.
Uber drivers, gig economy workers face new tax crackdown
Uber, Airbnb and Airtasker will be covered in new reporting rules designed to assist data matching efforts by the Tax Office.
Life & Luxury
An ‘affaire de coeur’ brings us back to the bistro
Australia’s passion for French cuisine has been reignited by a new breed of chefs dropping the fine dining for classic comfort foods.
My ’90s dream car is a 2020s reality at last – and all for $11,000
In this final instalment of a six-part series, our Peugeot 406 coupe project car is all but finished. Here’s how we managed the last big task – the paint job.
Australian authors explore the concept of resilience
Organisers of the Yarra Valley Writers Festival hope participants will leave “feeling inspired, humbled, joyful”.
‘One man killed another on my day off’: a writer’s life inside jail
Watching acclaimed UK prison drama ‘Time’ brings back vivid memories of running writers’ workshops in a high security men’s prison.
The Aussie who dreamed of opening a Paris cafe
Chris Fone had the classic Australian midlife dream. Four years after he opened The Stray Bean in Versailles, did reality match the ideal?
