RBA edges closer to rate hike
Governor Philip Lowe has acknowledged underlying inflation had picked up quicker than expected and signalled rate rises could begin earlier than forecast.
ASX to rise, S&P 500 extends record run
Australian shares are set to lift more than 1 per cent at the open buoyed by Wall Street. In contrast, the $A has tumbled more than 1 per cent.
- Exclusive
- Cryptocurrencies
CBA to add crypto to its banking app
The Commonwealth Bank’s move marks a coming of age for digital currencies, seen by some investors as hedges against decades of central bank profligacy.
COP26 exposes global climate divide
Western leaders used the opening of the COP26 summit in Glasgow to try to salvage support for concerted global action on climate change.
- Live
- Need to Know
Immunity from vaccines more consistent than infection
Both infection-induced and vaccine-induced immunity are durable for at least six months, the CDC determined; Pfizer’s vax revenue surge. Follow updates here.
- Opinion
- Chanticleer
RBA signals end of easy money
Interest rates will rise sooner than expected, but that isn’t reflected in equity markets that are yet to include the less bullish scenarios in the bond market.
- Analysis
- Big four
Market bets Westpac will miss cost target
One bad slide in Westpac’s 131-page results presentation triggered a chain reaction, as leading analysts question the bank’s recent pledge to slash costs.
Explore the 2021 Top 100 Accounting Firms with exclusive interviews, data and charts. In your inbox Wednesday morning.
Glasgow Summit
After mocking electric cars, PM now embraces them
Scott Morrison once famously claimed electric cars would be the death of the weekend. Now he wants to build more electric charging infrastructure.
India’s 2070 climate pledge divides opinion
Prime Minister Narendra Modi’s importance to the fate of COP26 meant that many seemed willing to give him the benefit of the doubt.
- Opinion
- Glasgow summit
Just how clean can two billionaires really be?
Two of the world’s richest businessmen are furiously writing billion-dollar checks in their race to shape the climate future.
Climate promises ‘nothing but blah blah blah’ without action
Western leaders used the opening of the COP26 summit in Glasgow to try to salvage support for concerted global action on climate change.
- Analysis
- Paris Agreement
Biden left bare in Glasgow after progressives’ bluff fails
Powerful US senator Joe Manchin didn’t blink when his Democrat colleagues tried to pressure him into voting for a bill with bigger climate change investments.
smart investor
- Analysis
- Cryptocurrencies
Lack of crypto advice a hurdle for would-be buyers
Financial advisers cannot legally recommend cryptocurrencies to clients, creating an opportunity for fund managers but a problem for some prudent investors.
- Opinion
- Sharemarket
Healthcare cloud solutions to watch
How to invest in technology companies that help manage patient and healthcare outcomes.
- Opinion
- Energy
What to consider before investing in hydrogen
Pricing estimates, its place in the global energy mix and where to find opportunities should be on the checklist.
- Opinion
- Bonds
Why your investment decisions are going to become harder
How to read signals from the bond market, what they mean for your share decisions and how to think about scenarios for your portfolio.
- Opinion
- Property investment
Where the winners are in commercial property
Looking for key investment opportunities? We outline what lies ahead for real estate in the industrial, office, retail and hospitality sectors.
Podcast | How Australia’s top entrepreneurs built their fortunes and what they learnt along the way.
Companies
Melbourne Cup caps super spring for racing’s gang of four
Verry Elleegant’s stunning Melbourne Cup win was the third Spring Carnival triumph in as many weeks for four owners united by business and racing.
- Analysis
- Big four
Market bets Westpac will miss cost target
One bad slide in Westpac’s 131-page results presentation triggered a chain reaction, as leading analysts question the bank’s recent pledge to slash costs.
Former Leighton executive David Savage heads back to court
He is expected to return to Australia from France this month to attend a court hearing in connection with a long-running bribery investigation.
- Exclusive
- Wealth Generation
Magellan, Zip CEO back Millennial podcasters
The four-year-old financial media start-up has closed a seed funding round and will use the fresh capital to hire three full-time employees and launch new podcasts.
Year of the commercial ‘megadeal’ in full steam
While industrial transactions have dominated the year so far, office and retail assets – even big ones – are back in investors’ sights.
- Opinion
- Chanticleer
Wealth platforms yet to crack mass market
A flurry of takeover activity among the insurgents in the wealth platform space shows a market reaching maturity and enormous unmet demand in mass-market advice.
Travel insurance costs to rise nearly 10pc
Holidaymakers heading overseas should expect higher travel insurance bills and to pay for costly PCR tests.
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Markets
Philip Lowe Q&A: Rates, migration and house prices
RBA governor Philip Lowe discussed whether wage growth is achievable, what effect migration might have on the outlook, and whether it will step in to curb house prices.
Australian dollar eases after RBA fights back hawks
The Australian dollar fell back after the Reserve Bank warned hawkish markets that a cash rate increase in 2022 was unlikely.
RBA’s new messaging has ‘bought it more time’
The RBA’s decision to scrap its forward guidance has given it more flexibility, economists say, and an ability to stay dovish in the face of a rowdy bond market.
RBA flip-flop weighs on shares in volatile session
Australian shares edged lower on Tuesday after the Reserve Bank scrapped its prior guidance and commodity prices weighed on materials companies.
RBA edges closer to rate hike
Governor Philip Lowe has acknowledged underlying inflation had picked up quicker than expected and signalled rate rises could begin earlier than forecast.
Opinion
Morrison leaves Macron looking like a sore loser
The French have seen only their interests, not their customer’s, right to the bitter end.
Editorial
Global dance aims for a domestic target
Scott Morrison is determined to sell Australia’s ‘commonsense position’ on everything from climate change to submarines. His target is always domestic and aimed at voters in marginal seats.
Columnist
Josh Frydenberg is right to be worried about China
The deepening malaise in China’s $87 trillion real estate market is casting a dark shadow over Australia’s economic recovery.
Columnist
Xi’s inaction turns globalisation into global warming
The true dividend of welcoming of China into the global economic order is a climate catastrophe. The dilemma is what the US and Europe can do about this at COP26.
Columnist
The sooner interest rates rise, the better
The RBA has conceded that the cash rate could rise in 2023. That’s good: dirt cheap money increases risk while doing little for growth.
Editorial
Great carbon transition must commit to leaving no one behind
The market sees carbon neutrality as a profitable opportunity. But the greatest costs will be borne by those least able to make the transition.
Columnist
Politics
- Analysis
- RBA
Why does the RBA even bother forecasting interest rates?
While Tuesday’s RBA move looks messy, forward guidance is one of the central bank’s most powerful tools in a world where interest rates are already at zero.
Defence and social spending to blow out budget: Deloitte
Long-term spending on defence and social services means the deficit will settle at $60 billion a year, says Deloitte Access Economics.
Top silks say ICAC produced strong evidence on Berejiklian
With concerns in Canberra about the NSW corruption watchdog, top lawyers say the Berejiklian inquiry strengthens the case for a federal model.
Investment means city-country divide on climate action is ‘over’
Business was leaving the Morrison government behind on climate change action but couldn’t drive down all the costs by itself, a summit has heard.
ICAC findings on Berejiklian unlikely until 2022
ICAC ruling expected in 2022; NSW brings forward freedoms for fully vaccinated people, but unvaccinated people will have to wait until December 15; Victoria’s cases drop below 1000. Follow updates here.
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World
US business chiefs warn of expat exodus from China
With no exit strategy articulated, and just as the rest of the world reopens, US business leaders have warned Beijing that it risks accelerating the outflow of foreigners from China.
Jes Staley exits abruptly as Barclays CEO amid Epstein probe
Staley’s surprise departure caps a tumultuous six years as boss of the British lender amid the shadow of the investigation into sex offender and socialite Jeffrey Epstein.
Now for the kids: FDA kicks off rush to vaccinate under-12s
The sign-off on Pfizer is the first green light for a Western-developed vaccine to be used in children younger than 12.
Biden hails EU-US steel deal as chance to curb ‘dirty’ Chinese imports
Washington and Brussels have set aside a long-running dispute to aim for a global arrangement to encourage low-carbon production.
- Analysis
- Japan
Kishida, a former foreign minister, will prioritise Australia ties
Japan’s new prime minister is expected to make Australia a foreign relations priority as he continues his predecessor’s work bolstering security alliances in the region.
Property
- Opinion
- Monetary policy
RBA starts weaning property market off ultra-cheap debt
By abandoning its yield target, the Reserve Bank is tacitly condoning the lift in short-term bond yields, which are already reflected in higher costs for fixed rate home loans.
New listings soar by 41pc in Sydney as vendors rush to sell
Vendors rushed to list their homes as lockdowns ended and to get ahead of the imminent slowdown in buyer demand.
Desperate home buyers risk ending up with lemons
Home buyers are being warned they risk purchasing properties with hundreds of thousands of dollars of defects unless they do proper due diligence.
Dexus seeds first opportunity fund with $245m in investments
The newly-seeded fund will range across investments in value-add, development and credit plays, delivering typically higher returns that accompany greater risk.
$8m penthouse on cards for Adelaide apartment project
Melbourne-based Pelligra will redesign the failed project with a focus on high-end finishes to appeal to local downsizers and returning expats.
Wealth
- Opinion
- Energy
What to consider before investing in hydrogen
Pricing estimates, its place in the global energy mix and where to find opportunities should be on the checklist.
- Opinion
- Sharemarket
Healthcare cloud solutions to watch
How to invest in technology companies that help manage patient and healthcare outcomes.
Check the Young Rich Lister horoscope
Our resident astrologer examines Australia’s wealthiest Millennials by zodiac sign.
Technology
From Queensland to the metaverse: Roblox game creator raises $27m
The Brisbane-based creators of music-making game Splash have 3 million active monthly users and are chasing more as the boundaries between gaming and social media break down.
Facebook’s Meta morph not enough to please 20-somethings
Rebranding or not, young Australians who have been using Facebook since high school have mixed feelings about the social media giant.
- Exclusive
- Skills shortage
Shorter weeks and free travel aimed at stopping ‘great resignation’
Australian tech companies are becoming creative in their bid to source and retain talent, as a new report shows one in four Australians plans to soon quit their job.
Work & Careers
Mystery Westpac sacking not unfair
Westpac’s firing of a 63-year-old manager without telling her why has been upheld by the workplace tribunal in what could be a test case on procedural fairness.
Toorak finance broker taken to court over suspected underpayments
The businessman was “an intentional participant” in the alleged underpayments of staff, who the workplace watchdog claims were paid below minimum wage.
Life & Luxury
Fashions fizzle but frills abound at Melbourne Cup
The throng of celebrities was missing and high fashion was a low-key affair this year, but the celebratory mood was unmistakable.
How skiing benefits this executive’s career, seriously
ServiceNow’s Eric Swift takes the same approach to planning and teamwork, whether he’s skiing back country or performing his executive role.
Travelling close to home is here to stay
Slow days connecting with the Australian landscape were not only a balm during the pandemic, they reinforced that we might not need so many overseas escapes.
Inside Incentivise’s old-school tilt at Melbourne Cup glory
Incentivise has emerged from nowhere to be the shortest-priced Melbourne Cup favourite since Phar Lap.
Why finding a holiday stay in NSW will be twice as hard
Online accommodation platforms have suspended thousands of short-term rental listings following the launch of compulsory registration in NSW on November 1.
