Fears that prolonged talks expose net zero deal
The Nationals are handing over their net zero demands but many senior Nationals and Liberals fear the drawn-out negotiations will be politically damaging.
Prezzee in early talks with investment banks, funds for $1b float
Digital gift card provider Prezzee fancies itself as the country’s next unicorn, but there is a lot riding on its valuation.
Vaccine progress ‘transformed’ as Australia overtakes US
An increased supply of mRNA doses from overseas is pushing Australia’s jab rates ahead of other countries such as the United States.
Mercedes-Benz hits back at $650m dealer lawsuit
The car company says its switch to an agency model complies with Australian laws, but Labor says plan the piggybacks on dealer goodwill and hard work.
Macquarie leads rivals in $760m M&A fee windfall
Macquarie Group, Goldman Sachs and UBS command a third of Australian investment banking fees in a record year for deals.
Singapore’s regulator steps in as energy crisis hits
The Energy Market Authority of Singapore will step up natural gas reserves after spiking prices forced out the country’s biggest retailer.
The companies on the block in Australia’s M&A boom
Dozens of Australian companies are bracing for a knock on the door as one of the hottest mergers and acquisitions booms plays out.
Accounting firms offer pay bumps and flexible work amid a struggle to retain and attract staff. In your inbox Wednesday morning.
START-UPS
- Exclusive
- Mergers & acquisitions
Ex-AFL star sells start-up for $205m after just four years
The recent boom in Brisbane-based tech company success continues as former Adelaide Crow Brad Moran sells CitrusAd to French giant Publicis Groupe.
She built a $47m fortune by 35 – here are her seven tips
Jane Lu, 35, started from nothing and created a business worth $47 million in 10 years, and doesn’t think she’s special. Read her tips for success and listen to her story on episode 2 of the How I Made It podcast.
- Exclusive
- Life after Lockdown
Muso helps bands score post-lockdown gigs
Muso, a software platform that helps musicians find gigs and venues find artists to put on shows, is banking on a post-lockdown boom after raising capital.
- Exclusive
- Funding
Start-up raises for ‘end-of-life’ digital platform
Westpac’s Reinventure fund has led a $3 million round in digital will provider Safewill, which has plans to build a platform to safeguard your digital life when you’re gone.
- Exclusive
- Funding
Hospitality tech in the money as restaurants learn lockdown lessons
Mobi, a start-up that helped chains such as Oporto and Red Rooster control their online operations, has raised $10 million as restaurants keep a digital focus post-lockdown.
Companies
The companies on the block in Australia’s M&A boom
Dozens of Australian companies are bracing for a knock on the door as one of the hottest mergers and acquisitions booms plays out.
Stockland says inflation in timber, labour is easing
The listed residential developer and commercial landlord also predicts a “good Christmas” for its retailer tenants.
Josephine Sukkar will deliver third Shepherd oration
The Buildcorp co-founder and corporate director earlier this year replaced John Wylie atop the powerful Australian Sports Commission.
Staffing crisis hits Australia’s top accounting firms
The nation’s Top 100 accounting firms are responding to the tight labour market conditions by raising pay and increasing bonuses – but it still isn’t enough.
- Opinion
- Chanticleer
BHP’s reminder it’s not all woe in iron ore
BHP is taking its foot off the pedal in iron ore. It’s a reminder that the commodity’s price plunge doesn’t tell the whole story.
Sydney Morning Herald editor Lisa Davies resigns
The Sydney Morning Herald editor Lisa Davies has resigned and will leave the masthead after almost a decade, with The Herald’s deputy editor Cosima Marriner to step in as acting editor until a replacement is found.
- Exclusive
- Cars
Mercedes-Benz dealers launch $650m lawsuit
Australian Mercedes-Benz dealers have launched a $650 million legal action against Mercedes-Benz Germany.
Companies in the News
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Markets
Economists cast doubt on RBA rate hike plans
Economists and markets disagree with the RBA’s stand that the cash rate will not rise before 2024, warning about the surge in housing and energy prices.
Energy crisis puts rocket under base metal prices
Energy shortages in China and across Europe have led to output cuts across the base metals sector, driving prices to record levels.
Shares finish flat as miners drag; BHP posts ‘mixed quarter’
Traders lift RBA rate hike bets. Brambles Q1 sales up 11pc, warns on labour shortages. BHP sticks to production guidance. Nuix jumps 7.7pc. a2 Milk up 5.3pc.
- Opinion
- Chanticleer
LIC fight pits Wilson against Moore
Two leading fund managers – Geoff Wilson and Paul Moore – have taken their battle for control of a listed investment company to the Takeovers Panel.
Is the army of lockdown traders here to stay?
As lockdowns hit, a wave of people turned to day trading. But as the world enters post-lockdown life, the question confronting trading platforms is whether any of the surge in trading can outlast the coronavirus crisis.
Opinion
Australian companies bulking up on optimism
This year could be a record for merger activity as corporate Australia looks through fears of inflationary bottlenecks.
Editorial
Australians need a PhD in ‘borderology’ to figure out the rules
The confusion over domestic borders and travel is mirrored in uncertainty over immigration levels once Australia’s international borders open up.
Columnist
The great interest rate debate takes another turn
Stephen Grenville’s claim that he wants interest rates to actively be pushed up because it is “inevitable”, is like saying we’re all going to die some day, so let’s stop taking care of ourselves.
Contributor
Politics is often counterintuitive, and climate action is no different
Barnaby Joyce looks every bit the man who knows he has to deliver something that every sinew of his body disagrees with.
Political editor
Why you shouldn’t underestimate the underclass
They are damaged, lacking in trust and discipline, and highly self-interested. But the poor are still a force that Australia needs to properly harness.
Columnist
A jagged tear in the sterling reputation of ‘Saint Gladys’
Former NSW premier Gladys Berejiklian will be interrogated by ICAC. It’s another example of the blurred line between the personal and public interest in politics.
Columnist
Politics
ATO boss facing rare Senate contempt order over JobKeeper list
Tax commissioner Chris Jordan faces jail time or a fine of up to $5000 over the growing transparency stand-off.
Unions lose challenge to Labor power amid fresh corruption claims
Former Victorian cabinet minister Marlene Kairouz and a coalition of powerful unions have both lost their court challenge to overturn the Labor Party’s federal takeover of the Victorian arm following branch stacking allegations.
Frydenberg mulls migration slowdown hit on economy
The Treasurer says the population hit from the coronavirus crisis, and the size and composition of Australia’s migration program is ‘front and centre’ of his post-pandemic thinking.
Mood shifts to net-zero deal within days
Barnaby Joyce has accepted Scott Morrison could forge ahead with a commitment to net zero emissions by 2050 without the imprimatur of the Nationals.
Palaszczuk opens Queensland border for Christmas
Queensland Premier Annastacia Palaszczuk has urged Queenslanders to get vaccinated ahead of them being reunited with families and friends for Christmas.
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World
New Zealand hits virus high, pushes vaccination as way out
Prime Minister Jacinda Ardern said lockdown rule-breakers were contributing to the spread of infections, and noted that many of the new cases were in younger people.
Powell, a statesman who influenced the course of the Iraq war
Colin Powell, 84, who died COVID-19 complications, rose from humble origins in Harlem to become the US Secretary of State during tumultuous times marked by war.
Johnson calls on nations to harden climate goals
While the UK expects to welcome about 120 world leaders to Glasgow, it’s contending with some key no-shows.
Britain logs ‘concerning’ number of COVID-19 cases
Experts call on the government to ramp up booster jabs and vaccination of children, as hospitalisations also start to climb.
Colin Powell dies from COVID-19 complications
The US Army general rose to become his country’s first black secretary of state and styled himself a ‘reluctant warrior’.
Property
- Opinion
- Property investment
How much to spend on your renovation
There’s a fine line between adding value and overcapitalising – here’s how to work it out.
Investors find ‘robust’ returns in new boarding houses
A 35 double-room studio apartment building has been sold for $10.5 million to a private family investor amid growing demand for the sector.
Wollongong Woolworths sold on 4pc yield
Local developer and builder Pasquale Lucchitti has bought a Woolworths in Wollongong for $36 million on a very low yield for a regional mall.
Ampol puts 18 development sites up for sale
The sites are mostly in regional centres, including a 2.5 hectare site in Portland in south-west Victoria.
Macquarie seeks new NYC digs (after 53rd year of US profit)
Macquarie Group is on the hunt for one of the top 10 new office space leasing requirements in Manhattan that could cost as much as $689 million as it rapidly expands its US operations.
Wealth
- Opinion
- Investing
Do female investors have a perfectionist problem?
Money coaches say women have less invested than men because they are afraid of not getting it absolutely right.
- Opinion
- Property investment
How much to spend on your renovation
There’s a fine line between adding value and overcapitalising – here’s how to work it out.
Tax shortcut for work-from-home claims extended
Rules allowing taxpayers to speed up their annual tax return have been extended to June 2022.
Technology
- Exclusive
- Mergers & acquisitions
Ex-AFL star sells start-up for $205m after just four years
The recent boom in Brisbane-based tech company success continues as former Adelaide Crow Brad Moran sells CitrusAd to French giant Publicis Groupe.
Apple launches new AirPods with longer battery life
The technology juggernaut also unveiled a music plan that works exclusively through Siri and different colours for its HomePod mini speaker.
The new MacBook Pro is the biggest overhaul in years
The tech giant’s shares rose as it also unveiled M1 Pro and M1 Max chips that are 70 per cent faster than its M1 predecessors and far outgun those from Intel.
Work & Careers
- Opinion
- Workplace
Beware, workers are about to pivot with their feet
The workplace is going through a Great Realignment because of the pandemic, which has made many employees rethink what their jobs mean to them.
American workers who didn’t quit are now going on strike
Many of those who didn’t join The Great Resignation are now joining picket lines, as widespread work stoppages reflect growing frustrations among the labour force.
Life & Luxury
#Boatlife: The families selling up to live – and work – at sea
A growing armada is taking advantage of the remote labour practices ushered in by COVID-19 to escape the rat race for a life of marine adventures.
Don’t be surprised if you start seeing lots of these machines
Eijiro Tsukada has designed a device intended for the global colonisation of the home, office and cafe, one cup of perfectly made matcha tea at a time.
- Opinion
- Review
Samsung v Apple: Which watch won in our test?
Both watches will help (or hinder) you getting through your day in pretty much the same way, but only one is worth dying for.
Some of Australia’s greatest surf photos are now collected in one book
A new book of photographs documents Australia’s ongoing love affair with a life on the ocean waves.
Paspaley turns deep-sea treasures and tattoos into fine jewellery
The brand’s new collection features rare, pristine Pinctada maxima pearls alongside precious finds their divers have retrieved from the depths.
