- Exclusive
- Coronavirus pandemic
PM mulls more cash, but no return to JobKeeper
The Morrison government will continue to examine ways to boost income support and business payments, including expanding support to 1 million welfare recipients.
ASX to rise, Dow edges higher, bitcoin surges anew
Australian shares to rise, US stocks mixed, mining stocks rally, Tesla advances, bitcoin eyes $US40,000. And your flat white is going to cost more.
- Opinion
- Chanticleer
Why this market veteran believes shares won’t be locked down
The stockmarket’s rise in the face of pandemic lockdowns might look odd, but the composition of the ASX is very different to the real economy, says AFIC’s boss.
- Opinion
- Property prices
Inflation figures ignore soaring cost of housing
As the housing bubble goes global, there’s growing concern official inflation figures fail to capture the steep rise in housing costs consumers now have to contend with.
UK cases drop, delta surge may have peaked
Britain reported on Monday its lowest daily total of new coronavirus cases since July 4; 54 new venues on Sydney’s exposure list. Follow updates here.
- Exclusive
- Venture capital
Top Aussie VC targets the ‘next Facebooks’
Square Peg has become one of the biggest names in the Aussie start-up investment scene. Now it will look to take on traditional fund managers with a global listed tech fund.
Mesoblast boss won’t answer share deal questions
The biotech’s chief executive won’t answer questions over a reconciliation gap of up to 27.7 million shares in a previous share deal.
The biggest stories in business, markets and politics, and why they matter, in your inbox at 8pm.
Tokyo Olympics
Titmus wins Games’ hottest race
The race between the two national heroes was one of the most anticipated contests of the Games. The Australian captured the gold medal with the second-fastest time in history.
‘Wolf warrior’ diplomats take issue with Olympics coverage of China
Despite its strong medal tally, hyper-sensitive China is unhappy with international media coverage of its athletes or references to Taiwan.
Meet the Matildas star with a consulting career on the side
Midfielder and MBA graduate Tameka Yallop works from hotels, her home and the Olympic Village doing remote project management work to set up her post-sport career.
Gilmore wipes out in shock surfing loss to South African
Few expected Bianca Buitendag to have any chance at all against the decorated Australian, but the lack of expectations allowed her to perform at her best.
McKeon wins bronze in 100m butterfly
Australian swimmer Emma McKeon has won the bronze medal in the 100m butterfly at the Tokyo Olympics.
Companies
AMP casts off shackles of pre-Hayne wealth model
AMP has dumped the tarnished business model that made it Australia’s largest provider of financial advice, granting its advisers ownership of their own clients.
Poynton comes out swinging at Helen Coonan at Crown Perth inquiry
Perth businessman John Poynton maintains he should not have been pressured to quit the Crown Resorts board as the WA royal commission shifts it focus to the company’s fitness to hold a licence.
Crown directors’ bonuses in doubt as BEAR considered for casino execs
The banking executive accountability regime should apply to gaming executives to ensure Crown’s lawbreaking is not repeated, royal commission lawyers say.
Best & Less chief calls for disaster clause in leases
Best & Less CEO Rod Orrock not only supports calls for rent relief during lockdown, he says there shoud be disaster relief clause in the national leasing code.
Endeavour Group acquisitions on ACCC radar
The competition watchdog is eyeing Endeavour’s purchase of the Terrey Hills Tavern and other potential deals as ‘creeping acquisitions’ make a come-back.
Westpac says $420m Pacific bank sale knocked back by PNG regulator
Kina Securities, which agreed to pay $420m for Westpac’s Pacific assets, said it will make new submissions to the PNG competition regulator.
Santos oil result could be catalyst for deal
A record production rate at an oil well at the Van Gogh venture may give a lift to Santos’s efforts to bring in a partner at its $2.7 billion Dorado project.
Companies in the News
Oil Search
Crown Resorts
Westpac Banking Corporation
Updated: Jul 26, 2021 – 3.58pm. Data is 20 mins delayed.
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Markets
Bitcoin nears $US40,000 as shorts fuel rally on Amazon speculation
A job posting by Amazon sparked speculation about whether the online retailing behemoth may sooner than later start accepting bitcoin as a method of payment.
AQR bond quant’s ‘sacrilegious’ view
What Jordan Brooks found is that investors tend to overemphasise policy decisions from the Federal Reserve and other central banks.
Coffee surges to seven-year highs with more cold headed for Brazil
Prices for the high-end beans favoured by Starbucks and other cafe chains have surged more than 30 per cent in a week.
- Opinion
- Inflation
Reflation trade’s last bright spot shines on Canadian dollar
The inverted shape of the Canadian currency’s volatility curve suggests investors remain confident in the outlook that calm will prevail.
Miners lift shares to intraday record
The S&P/ASX 200 hit a new record intraday high of 7417.6 points in the morning, before falling slightly to finish flat for the day.
Opinion
Hostile climate ahead of Glasgow at G20 talks
Rather than Australia’s net zero target, the international climate divisions exposed by the Naples G20 talks will be the focus of attention at the Glasgow summit.
Editorial
Roar for medal success at silent Olympics
The atmosphere has been sterile. But now focus is on the athletes, the roar of excitement generated by Australia’s first gold medals was the real thing.
Editorial
The reason NSW isn’t defeating delta
Too many Sydneysiders, especially in the city’s south-western suburbs, are disobeying a ban on family socialising.
Senior correspondent
As JobKeeper calls get louder, PM must be cautious
The circumstances of 2020 were unique, and should not be used as a model for handling every future setback.
Contributor
The fallacy of climate risk to the global financial system
Financial shocks are more likely to come from inept or over-reaching climate regulators than events in the atmosphere itself.
Contributor
No easy way out for unvaxxed Australia
NSW’s deepening lockdown crisis shows there will be no genuine return to normal life for all Australians until the national vaccine rollout is completed.
Editorial
Politics
Disaster payments fairer than return to JobKeeper: hospitality group
One of Australia’s biggest pub groups which operates across state borders highlights the limitations of a return to JobKeeper.
Pharmacies ‘overwhelmed’ by AstraZeneca interest
Pharmacies believe they’re witnessing a turning point in community perceptions of AstraZeneca on their first day of delivering the vaccine in west and south-west Sydney.
- Exclusive
- Paris Agreement
Tech-driven approach best way to avoid climate talks collapse: Taylor
Energy minister Angus Taylor told a summit of G20 ministers that technology was a way to break the historic divide between rich and poor countries.
Two more dead in NSW outbreak
NSW Health confirmed a woman and man both aged in their 80s have died, bringing the total number of deaths from the current outbreak to 10; South Australia is now out of lockdown. Follow updates here.
- Exclusive
- Coronavirus pandemic
COVID-19 payments to keep lid on unemployment
More locked down workers in Greater Sydney are claiming the Morrison government’s COVID-19 disaster payment than they did for JobKeeper and JobSeeker at the height of the first wave of closures last year.
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World
Canberra scrambles to get Aussies out of Indonesia
There is only one Jakarta-to-Sydney flight a week, it’s booked out until Christmas, and transit bans have cut off other options.
US accused of ‘demonising’ China for political gain
China’s Vice-Foreign Minister Xie Feng told US Deputy Secretary of State Wendy Sherman Washington needed to correct its “very dangerous China policy”.
‘Wolf warrior’ diplomats take issue with Olympics coverage of China
Despite its strong medal tally, hyper-sensitive China is unhappy with international media coverage of its athletes or references to Taiwan.
China says EU’s planned carbon border tax violates trade principles
As the world’s top manufacturer of industrial raw materials such as steel and cement, China could suffer the most from the border tariffs scheme.
- Opinion
- Coronavirus pandemic
Britain has thrown away its vaccine advantage
Internationally, the so-called English experiment in opening up even as infections rise is regarded with horror.
Property
Sydney house prices to soar 21pc: NAB
The bank has upgraded its house price forecast across all capitals but warns growth rates will plunge in 2022.
AXA IM logs into biggest forestry deal in more than a decade
The $775 million acquisition is the first investment into Australian timber for the company, which manages plantations across France, Ireland and Finland.
Auction volumes surge 81pc in Sydney
Sydney’s residential auction volumes surged 81 per cent in the June quarter, while Melbourne’s tally jumped 51 per cent as sellers rushed to take advantage of strong buyer demand.
Malls landlord GPT pulls guidance amid lockdowns
The ASX-listed landlord and fund manager says it was appropriate to withdraw guidance, given the uncertainty over the Sydney and Melbourne lockdowns.
Loan limits cool the property market but help the big banks
The largest lenders won mortgage customers at the expense of smaller competitors when restrictions applied between 2014 and 2018.
Wealth
- Opinion
- Property downsizing
When downsizing is more about ‘right sizing’
What to take into account when it’s time to sell the family home.
- Opinion
- Aged care
When the NDIS and aged care intersect
When support is needed with funding disability needs, which way do you go – NDIS or aged care? The answer comes down to the timing of changes in your life.
- Opinion
- Aged care
Traps in enduring power of attorney and super
Be certain that your EPOA sets out clearly and fully what you want or don’t want your attorney to be able to do with your retirement nest egg.
Technology
Gadget makers don’t want you to be able to fix them
With the consumer electronics industry resisting efforts to make their products more repairable, it falls on large corporate buyers to force a change, experts say.
Facebook woos God with a business proposition
With a market capitalisation of $1.3 trillion and more adherents than Christianity or Islam, the social media giant is testing the frontier of religion.
- Exclusive
- Funding
Melbourne marketing tech firm bags $50m US funding
IntelligenceBank provides a marketing platform for companies including ANZ, NAB, Suncorp, KFC and Hyatt Hotels, and its growth has attracted a big VC funding cheque.
Work & Careers
Meet the Matildas star building a consulting career on the side
Midfielder and MBA graduate Tameka Yallop works from hotels, her home and the Olympic Village doing remote project management work to set up her post-sport career.
Bad hires a bigger cost to the bottom line
A tight talent market has made the cost of a bad hire more significant than 12 months ago, according to new research.
Life & Luxury
Mazda delivers jolt to electric car market with its first EV
The company’s quality matches several much more premium brands, but will buyers pay more for a green vehicle that looks just like its petrol predecessor?
Something For Kate’s Echolalia was something for women in music
Ahead of a tour reviving Melbourne band Something For Kate’s 2001 album Echolalia, frontman Paul Dempsey recalls its feminine dynamic as a blow against sexism.
‘Woman packs’ welcome, says farmer-hotelier
Wilga Station might evoke the era in which the nation rode on the sheep’s back, but these days it’s after new markets rather than sweaty shearers.
Fashion brands seize the moment with watches that break the mould
If ever there was any doubt such companies are sparkling with horological creativity, this year is bringing further proof with high-jewellery timepieces.
Virtual wine tastings get a bit too popular during lockdown
Wine makers are milking the surge in popularity for online tastings of up to 100 people at a time. “The thing we didn’t quite count on was how successful this format would be.”
