Rio Tinto vows 50pc carbon cut
China inspired the miner’s radical plan to decarbonise that will bring renewable power to its Australian iron ore mines and aluminium smelters.
Senate report proposes radical plan to regulate crypto economy
Treasury will oversee new cryptocurrency market licences and corporations law changes to allow “decentralised autonomous organisations” under an ambitious new model proposed in a bipartisan Senate report.
Coalition shields Porter from scrutiny over secret trust
Labor’s bid to refer the former attorney-general to a powerful parliamentary committee was defeated.
- Live
- Need to Know
Brazil senate urges criminal charges for Bolsonaro over pandemic
A report from the senate says Brazil president Jair Bolsonaro, who repeatedly dismissed COVID-19, should be charged with crimes against humanity. Follow updates here.
ASX pariah Animoca Brands worth $2.9b, Sequoia China buys in
Here’s one the ASX won’t be too happy about - digital property rights company Animoca Brands has just ruled off a $87 million raising.
Bitcoin climbs to record $US66,000 high
Bitcoin has pushed past a new record on the back of a new futures-based exchange traded fund.
- Opinion
- Chanticleer
Crypto reform will unleash opportunities for investors
A parliamentary report says Australia’s crypto-related businesses need official licensing and oversight to gain credibility with banks and to protect consumers.
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commercial property
Pac and Mac $2.2b mega-deal is boost for major malls
AMP, Cbus and UniSuper’s record-breaking deal to buy into Pacific Fair and the Macquarie Centre sets a clear pricing benchmark for major malls.
Pubs shake off the shutdown blues
The end of lockdowns in NSW and Victoria is just another tailwind in the booming pub sector, whose long leases make it as attractive to investors as childcare centres
AusSuper on the hunt for London’s next King’s Cross
The 67-acre site allowed the $190 billion industry fund to notch up a significant offshore property success - and now it wants more.
Melbourne Woolworths sale sets new benchmark
The sale of the Blackburn South Woolworths to a local investor on a record low yield reflects the weight of capital seeking convenience-based retail assets.
- Analysis
- Commercial real estate
North Sydney’s $11b big build
A third wave of projects is lining up to tap the growth expected in North Sydney after the 2024 completion of the Victoria Cross Sydney Metro station.
Companies
Senate report proposes model to regulate the crypto economy
Treasury will oversee new cryptocurrency market licences and corporations law changes to allow “decentralised autonomous organisations” under a radical plan.
Net zero is ‘a daunting task’: energy expert
A top scientist and adviser to Bill Gates, Vaclav Smil, says it’s unrealistic to think carbon emissions can be reduced to net zero in just 30 years. BlackRock’s CEO disagrees.
- Exclusive
- Online trading
Banks eye $1.8trn micro-investing market
Retail banks are preparing imminent forays into micro- and automated-investing as they rally to make up ground on Commonwealth Bank’s popular CommSec Pocket app.
ASIC’s star witness in Jan Cameron case scant on details
Jon Adgemis says he was not involved in the formation of a company that lent money to Black Prince – the largest investor in Bellamy’s Australia.
Overwhelming support for fining dodgy finance executives
Consumer advocate group Choice wants the government to impose $1 million penalties on financial executives who break the law.
Spark’s independent expert signs off on ‘premium’ takeover bid
The bid is 2¢ above the upper range of the independent expert’s valuation of the company.
Dan Murphy’s lockdown verdict is in
Customers of Dan Murphy’s and BWS liquor have shifted online in lockdowns, and hotel-goers are ordering expensive cocktails.
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Markets
RBA’s resolve tested by unruly bond market
The Reserve Bank of Australia is under pressure to wrest control of a key bond rate to prove it has no intention of raising interest rates before 2024.
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.
Shares rally 0.5pc, led by Worley’s upgrade to net zero winner
Australian shares closed higher on Wednesday, buoyed by a 7.5 per cent jump in Worley after it secured a key contract, and by a positive Kogan trading update.
Virtual-only meetings face real-world investor fight
A new bill could allow companies to have online-only shareholder meetings, and that has concerned some investor groups.
ASX adds 0.5pc; Codan, REA, Kogan, A2 Milk climb
The Australian sharemarket added 38.8 points, or 0.5 per cent to 7413.7 on Wednesday. Recap the day’s news here.
Opinion
Now to the debate on actually hitting net zero by 2050
Neither Australia’s main parties nor most of the 120 heads of government who will meet in Glasgow actually have a plan for reaching net zero emissions by 2050.
Editorial
Fiji’s PM: Go to Glasgow with commitments
Australia and Fiji share all the dangers of climate change in the Pacific. Canberra now needs to follow the Fijian path of firm commitments in law.
Contributor
Even Baird won’t defend Berejiklian over boyfriend
The former NSW premier decided he couldn’t back his friend, ally and successor at a corruption inquiry into her relationship with a disgraced MP.
Senior correspondent
Crypto got too big for government to ignore
In just seven months, a Senate committee digested 100 submissions to create 12 recommendations to set Australia up to benefit from decentralised technologies.
Senior Reporter
The tremors from Evergrande will rumble on for Australia
The real estate giant’s problems will not trigger a financial crisis, but they show that China’s economy must change, and that will have long-term implications for Australia.
Economics editor
Wondering why you should bother with an office return? Read this
Whether we return to the office lies in behavioural economics and the knot of ties essential to workplace wellbeing, innovation and career progression.
Contributor
Politics
- Exclusive
- Coronavirus pandemic
Low jab rates in Queensland tourism towns could be ‘catastrophic’
Premier Annastacia Palaszczuk has warned residents they are running out of time to get vaccinated before borders open fully to Victoria and NSW on December 19.
Sussan Ley cannot avoid duty to protect kids from climate change: SC
Environment Minister Sussan Ley is fighting to overturn a landmark decision finding that she had a duty of care to protect children from harm from climate change.
- Analysis
- ICAC
Even Baird won’t defend Berejiklian over boyfriend
The former NSW premier decided he couldn’t back his friend, ally and successor at a corruption inquiry into her relationship with a disgraced MP.
Berejiklian should have disclosed secret Maguire relationship: Baird
Former NSW premier Mike Baird says he was ‘incredulous’ when he learned of Gladys Berejiklian’s secret relationship with disgraced MP Daryl Maguire.
Maguire was ‘relentless’ in pursuing club bid
Former NSW Premier Mike Baird has told the ICAC former Liberal MP Daryl Maguire “relentlessly” pursued a funding bid for a gun club in his Wagga Wagga electorate ; 60pc of SA now fully vaccinated. Follow updates here.
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World
Britain’s NHS sounds COVID-19 alarm but government unmoved
A Boris Johnson lieutenant rules out going back into lockdown, but NHS bosses say it’s time to bring back masks, home-working, and limits on indoor events.
- Analysis
- Streaming
Blockbuster helps Netflix survive streaming game
A Dave Chappelle special drew sharp condemnations while the South Korean sleeper hit “Squid Game” became a global sensation, making it the streamer’s most-watched series to date.
Bankruptcy looms for Garuda, international routes no longer feasible
The last remaining commercial flight route operating between Australia and Indonesia is likely to be axed in the coming weeks.
China coal futures drop on threat of state intervention in crisis
Thermal coal futures trading on the Zhengzhou Commodity Exchange, which have hit record levels in recent weeks, fell the maximum 8 per cent for a second consecutive day on Wednesday.
Supply disruption to China gives hope to Australian beef exporters
China faces a beef shortage if restrictions remain on imports from Brazil and Argentina – which could be good news for Australian farmers.
Property
Alice Springs outback icon set for $100m revamp
Sam Arnaout’s Iris Capital will build a new hotel at Lasseters Hotel Casino as part of plans to create an international resort destination in the outback.
House price growth eases in outer suburbs
The outer fringe suburbs, where new housing developments are fast coming up, are losing the most growth momentum.
Housing sentiment drops as prices and sales weaken
An NAB survey has found sentiment has dropped to 60 points in the third quarter from a record 71 points the quarter before.
PGIM to renovate its ‘tired’ $54m Brisbane office purchase
It’s a turnaround opportunity for PGIM Real Estate, which views its acquisition of 444 Queens Street, Brisbane, as a prime value-add prospect.
UTAS plans 2500 new homes for Hobart’s blue-chip Sandy Bay
The University of Tasmania has released plans to develop 2500 homes on what is now its Sandy Bay campus in Hobart.
Wealth
How to rethink wealth creation (and opportunity)
Mariana Mazzucato says narrow objectives such as how to commercialise university research are like sex - if you want it too much, it won’t happen.
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.
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
Wage theft is ‘systemic’: 21 universities under investigation
A Senate report into insecure work says wage theft and exploitative workforce practices have become the “contractual norm” in universities.
How to rethink wealth creation (and opportunity)
Mariana Mazzucato says narrow objectives such as how to commercialise university research are like sex - if you want it too much, it won’t happen.
Life & Luxury
How you can live the VIP high life on a superyacht
Not everyone can afford a superyacht, but a new charter company founded on the Gold Coast is offering an entrée into that exclusive club, one cabin at a time.
ACO’s new season is literally one for the crowd
If ever there was a time for a multimedia reflection on the psychology of crowds, 2022 is it - and the Australian Chamber Orchestra will be featuring one as a centrepiece of its new season.
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.
