What prompted Cathie Wood to quit China
When Alibaba founder Jack Ma was effectively banished in China, it triggered star fund manager Cathie Wood. Her flagship Ark fund now has no Chinese investments.
Fundie Luciano suffers $500m drop in wealth
Shares in VGI Partners, Robert Luciano’s hedge fund, have fallen 70 per cent in two years to a record low.
Maguire ‘fired up’ as pet project faced delays
Disgraced Liberal MP Daryl Maguire “fired up” when government staffers delayed a funding bid for a project that is now at the centre of a corruption investigation into Gladys Berejiklian.
- Opinion
- Chanticleer
Bull retreat: Where fundies are investing - and avoiding
The speed at which sentiment has changed in Bank of America’s global fund manager survey is staggering. And it’s all about inflation.
- Live
- Need to Know
Relationship had ‘perception’ of conflict of interest, ICAC hears
A former staff for NSW Premier Mike Baird has told the ICAC the relationship between Liberal MP Daryl Maguire and then-Treasurer Gladys Berejiklian would have created the “perception” of a conflict of interest; At least 70pc of Australians are fully vaccinated. Follow updates here.
- Live
- Markets Live
ASX rises; Worley, Kogan surge; Flight Centre tumbles
Australian shares are higher; De Grey launches $125m placement; Beach Energy’s quarterly production falls, Kogan ‘resolved’ inventory woes; BHP lifts offer for Noront. Follow the latest here.
A2 Milk shares rally after Citi keeps ‘buy’ call
Rival Danone SA showed growth in its China baby formula business channels in the September quarter, which bodes well for a2 Milk.
News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
smart investor
Investors and renters return to cities as pandemic fears ease
Inner-city supply is tightening and rental prices are beginning to increase.
- 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.
- Opinion
- Aged care
How to find the best aged care home
Don’t leave it to chance but check how the provider rates on quality and safety. Price alone is not the best indicator.
- Opinion
- Inheritance
Can you disinherit your child?
What happens when broken family relationships are played out by parents leaving their offspring out of the will?
Companies
BHP tops Forrest in Canadian nickel battle
BHP has wasted no time in reclaiming pole position in the bidding war for Canadian nickel explorer Noront Resources.
Westpac to offer young customers ‘subscription credit’
A new no interest credit card called Flex will allow Westpac to keep pace with structural shifts in the demand for credit to facilitate online shopping.
CBA takes on Square challenge ‘head on’
Commonwealth Bank says its new payments terminal will offer tailored software apps for businesses and help the bank fend off an attack from Square, which brought slick payment hardware to Australia before buying Afterpay.
‘Fees are exorbitant’: Accounting bosses fight to attract staff
As a skills shortage continues to rip through the accounting industry, the leaders of nine firms explain how they’re trying to recruit and retain staff.
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.
ASIC says Black Prince was ‘revived’ to hold Jan Cameron’s holding in Bellamy’s
The prosecution alledges that a Malaysian company lent money to Black Prince on certain terms, which were changed after the listing of the baby formula player on the ASX.
Higher oil prices brighten Origin’s profit outlook
Higher oil and LNG prices have brightened the outlook for Origin’s earnings this coming year, despite lower profits still anticipated from the energy markets business.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Bitcoin futures ETF demand surges on trading debut
BITO stands as the second-most heavily traded ETF for a first day of trading, only surpassed by a BlackRock carbon fund.
Fed’s Waller ‘greatly concerned’ on inflation risk
If inflation expectations started to get out of kilter with that of the Federal Reserve, then the central bank would need to ‘take action’.
ASX to rise, earnings fuel gains on Wall Street
Australian shares are poised to rise, bolstered by reporting season optimism in the US. Bitcoin moves toward record high. $A reaches for US75¢.
Miners drag ASX from a three-week high
The Australian sharemarket fell away from a three-week high on Tuesday, as losses from the major miners offset strength from the local tech sector.
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.
Opinion
COP26 is the real thing and not a drill
While there seems to be a clear path towards a zero-emissions energy economy, it is a really difficult one. It is hard technically and even harder politically.
Columnist
Migration is not a substitute for a more flexible workforce
Australia has a big immigration shortfall. But migrants have also been papering over rigidities in the domestic job market.
Contributor
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
Politics
Get on your bike, says Josh Frydenberg
Treasurer Josh Frydenberg is pumping up the tyres of the cycling economy, and will launch a new EY report on the power of the pedal.
Prolonged talks expose net zero deal
The Nationals are handing over their climate demands but many senior members of their party and Liberals say the drawn-out negotiations will be damaging.
Gladys Berejiklian case puts ICAC on trial
As the Independent Commission Against Corruption prepares to put the former NSW premier in the witness box again, it’s time to weigh up its reputation.
Coalition moves to boost critical infrastructure security
Cyber attacks will be treated more like threats in the physical world, under changes to be considered by Parliament
Frydenberg puts population high on his post-COVID agenda
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.
SPONSORED
World
New COVID-19 wave builds in Europe’s unvaccinated regions
Wherever jab rates are low, the virus is on the march again – leading to overcrowded hospitals, new restrictions and more deaths.
- Opinion
- Inside China
Chinese policymakers face a major growth dilemma
Beijing will likely use infrastructure spending to plump up economic activity, as it pushes China’s bloated property developers to continue shrinking their debt
A robot server is helping human waiters earn more in tips
The $US1000-a-month cyborg carries plates at a Florida eatery, giving staff more time with customers, the owner said.
Couple sail to their wedding in giant cooking pot
Frontline workers Akash and Aishwarya were determined not to let flash floods and landslides in India stop their wedding.
N Korea test fires submarine-launched ballistic missile
The launch came as the intelligence chiefs of the United States, South Korea and Japan were to meet in Seoul to discuss the stand-off with North Korea.
Property
Mall giants provide earnings guidance on Christmas rebound hopes
Alongside its earnings forecast, SCA Property Group acquired the Moggill Village mall from developer Don O’Rourke for $55m.
Office towers change hands as reopening lifts hopes
The uplift in office tower transactions over the September quarter augurs well for what is expected to be a busy fourth quarter.
Stockland says inflation in timber, labour is easing
The listed residential developer and commercial landlord also predicts a “good Christmas” for its retailer tenants.
Yarraville denim factory site slated for $1b project
Irongate and Fraser Property Australia have joined forces to take control of a shut-down denim factory site in Melbourne’s inner west.
Asset diversification drives Sydney CBD harbourside hotel sale
Entrepreneur Chandru Tolani is selling down his hotel portfolio, hoping to capitalise on post-pandemic investor optimism.
Wealth
Investors and renters return to cities as pandemic fears ease
Inner-city supply is tightening and rental prices are beginning to increase.
What to do with your SMSF when it’s just you left
Getting the structure of your DIY super fund right is vital to keep things simple after one of you passes on.
- 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.
Technology
- Exclusive
- Business IT
‘Terrible mistake’ could send execs to jail over vaccine certificates
Storing employees’ COVID-19 vaccination certificates is a “world of data security pain”, experts warn, which could send unsuspecting business owners or execs to jail.
Netflix tops third-quarter subscriber views, sees upbeat fourth
Netflix added 4.38 million subscribers in the third quarter, and it expects to add 8.5 million customers in the final three months of 2021.
- 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.
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
For this CEO, 3km powering through the ocean is child’s play
These days, former competitive swimmer Jill Berry takes to the water for fun – and to help keep others safe in the surf.
Prostate cancer screening guidelines ‘putting lives at risk’
Specialists say current guidelines don’t include new technology that can sharpen diagnosis and reduce the fear of overtreatment.
A top London chef reveals her recipe for podcast success
Ruth Rogers, co-founder of the famed River Cafe, is turning her talents to a new podcast in which celebrity guests are on the menu.
A day to be charmed in Little Venice
Chioggia lies at the southern end of the vast Venetian Lagoon. It’s a quirkier, pocket-sized version of the famous nearby floating city, one with abundant fresh seafood.
Been there, done that? Get set to sail Saudi Arabia
The first international guests to embark on a Red Sea cruise from the kingdom since 2004 finds it full of surprises, not least of which are the luxury toys passengers get to play with.
