UK resurrects quarantine, mask mandates after two Omicron cases found
British Prime Minister Boris Johnson has reintroduced compulsory mask-wearing in shops and transport, plus COVID-19 tests with self-isolation for all overseas arrivals, after two cases of the Omicron variant were detected in England.
- Opinion
- Investing
Investing in an inflationary multiverse
Waiting for inflation to become apparent is not without cost. It’s been so long since inflation ruled that some managers have not formulated a strategy to deal with it.
Border shut to omicron-hit countries
The federal government has shut the border to non-citizens arriving from nine southern African nations and Australians arriving from those countries will have to quarantine for 14 days after the WHO classified the new omicron variant as a virus of concern. How the day unfolded.
World races to contain new COVID-19 threat
Nearly two years into the COVID-19 pandemic, the world raced to contain a new coronavirus variant potentially more dangerous than the one that has fuelled relentless waves of infection on nearly every continent.
Will flight restrictions help as new virus variant emerges?
Scientists said travel bans may buy time as it would take a few weeks to understand if the new virus variant was any more lethal or transmissible than previous versions.
US stocks fall on virus woes, ASX futures drop 1.2pc, $A tumbles
Fears about a new coronavirus variant identified in South Africa hammered global stocks, with the S&P 500 Index falling the most since February.
WHO names new variant omicron, nations rush to restrict travel
A World Health Organisation panel classified the new variant as a highly transmissible virus of concern, the same category that includes delta.
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perspective
Four radical ideas to fix the broken wealth advice model
Industry, regulators and consumer groups agree that the skyrocketing cost of financial advice is not in the national interest, but are split on the many and varied solutions.
- Opinion
- Federal election
The short-seller and his wife going after Morrison
With the Prime Minister worried about a hung parliament, a successful Sydney couple is behind an anti-Liberal campaign in Wentworth.
How COVID-hit Britain could save Christmas
As Europe succumbs to a corona kahuna, why is Boris Johnson able to keep his country lockdown-free?
‘It was horrible’ How this expat’s trip home came unstuck
Trips are now measured in dollars, days and PCR tests. In pandemic travel, there is no flexibility when the paperwork isn’t right.
- Analysis
- Australian economy
Free money one year on: a property boom and surging shares
As the haze of the pandemic starts to fade, the lasting effects on financial markets, company balance sheets, the central bank and the broader community have begun to emerge.
weekend fin
This former crack addict now knows the secrets of the universe
Before he became an acclaimed cosmologist, Hakeem Oluseyi had to navigate the toughest neighbourhoods of New Orleans and LA and overcome drug addiction.
How vaping helped one ‘hideously addicted’ doctor quit smoking
Vaping nicotine to quit smoking is controversial, but some advocates say GPs have an ethical obligation to prescribe it because smoking is so harmful.
Here’s what you need to know about the epic new Beatles doco
The 1970 documentary ‘Let It Be’ quickly vanished. Now it’s showing on Disney+ as a six-hour saga directed by Peter Jackson, revealing the band’s unseen side.
Hillary Clinton’s top aide reveals where her loyalties lie
Huma Abedin experienced a meteoric political career alongside the First Lady, but her personal life made headlines. In her new memoir, she tells her own story.
Why the woman who saved the MCA has wombats in her sights
After a 22-year tenure during which she took Sydney’s Museum of Contemporary Art from broke to blockbusting, Liz Ann Macgregor is pondering an animal sanctuary.
Podcast | How Australia’s top entrepreneurs built their fortunes and what they learnt along the way.
Companies
Wolf raid: the 36-year-old ASX trader who ‘made $1m in 28 weeks’
Tyson Scholz has attracted 22,300 followers with his flashy social-media lifestyle and sharetrading. But amid an ASIC probe, he says he’s done nothing wrong.
Rinehart’s $7.33b profit eclipses the big banks
The iron ore boom drove Gina Rinehart’s Hancock Prospecting to bigger profits than corporate giants including ANZ, NAB and Westpac.
Shoppers bag Christmas bargains early on Black Friday
Big brands such as Nike, LEGO, Dyson, Nintendo and Apple are proving hugely popular in Black Friday sales.
LNG powers Woodside’s journey to global top 10
Twin commitments on the Scarborough LNG mega-project and a historic merger with BHP Petroleum are set to propel Woodside into the major league in global oil and gas.
Top super funds shed active Woodside holdings
AustralianSuper and UniSuper do not have any active investments in oil and gas giant Woodside Petroleum, nor any undiversified fossil fuel producers.
Employers ‘hold all the cards’ on jabs as mass sackings loom
Vaccination hold-outs or those who insist on working from home are “on a hiding to nothing” and dismissals are around the corner, say leading workplace lawyers.
CBA raises fixed rates for the third time
Commonwealth Bank raised its fixed mortgage rates for the third time in six weeks, as banks try to recoup higher funding costs amid doubts of the RBA’s resolve.
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Markets
- Analysis
- Australian economy
Free money one year on: a property boom and surging shares
As the haze of the pandemic starts to fade, the lasting effects on financial markets, company balance sheets, the central bank and the broader community have begun to emerge.
OPEC+ leans toward ditching output hike as oil sinks on virus
The oil producing group was already considering a pause after the US and other consumers announced the release of emergency oil stockpiles on Monday.
New variant panic drags ASX 1.6pc lower for the week
The Australian sharemarket receded on Friday after a new COVID-19 variant triggered panic selling in the Dow Jones futures and dragged other markets lower.
ASX drops 1.7pc; travel stocks dive on COVID fears
Australian shares sink amid fears of a new COVID-19 variant; Japan’s Nikkei 225 drops 3pc; Dow futures plunge; Treasury yields sink; Westpac expects three Fed rate hikes in 2022. Follow the latest here.
Sweden’s central bank joins RBA in 2024 club
Sweden’s Riksbank is the latest central bank to have joined the “patient” brigade, seeing no case for a rate increase until 2024, and lower energy prices in 2022.
Opinion
We’ve turned our backs on the lessons of the pandemic
Lockdowns could have changed ideas about welfare funding and the nature of the economy. That was beyond our political class.
Columnist
The short-seller and his wife going after the PM
With the Prime Minister worried about a hung parliament, a successful Sydney couple is behind an anti-Liberal campaign in Wentworth.
Senior correspondent
Amid the chaos, Scott Morrison must still think ahead
The mood in the governing Coalition is unusually volatile in the run-up to the election. The best cure would be to have some policy to talk about.
Editorial
APRA fails its super performance test
Ranking super funds based on raw returns gives members no insights on the risks taken to achieve those results.
Columnist
Government is running out of lives but it’s not terminal – yet
It hasn’t reached the point of no return so far. But the Coalition needs to use the Christmas break to reflect on a messy end to the year.
Political editor
Six top tips to make your home a must-have for hipsters
Don’t leave dollars on the table when you sell your home! Here’s how to appeal to modern wants.
Columnist
Politics
- Exclusive
- Federal election
Election prospects are not our concern, says rebel Liberal senator
Senator Gerard Rennick said while he wanted to win the election, that was not as important as standing up for those who opposed vaccine mandates.
- Exclusive
- Federal election
Risk of harm in religious freedom plan: Alan Joyce
The Qantas boss says vulnerable people could be hurt by legally protected comments under the Coalition’s draft laws.
- Analysis
- Corruption
Why Morrison’s corruption body won’t mimic NSW’s premier-slaying ICAC
Labor says the Coalition’s integrity commission is the kind ‘you establish when you don’t want to establish an integrity commission’.
Dutton a ‘dangerous personality’: Keating
Former prime minister Paul Keating has responded to comments by Defence Minister Peter Dutton at the National Press Club today. Follow updates here.
Queensland’s logistical nightmare ahead of border reopening
The Palaszczuk government said it was still completing the health directives ahead of the planned border reopening to NSW and Victoria in a few weeks.
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World
Australian police take control of Solomon Islands capital
Tear gas was deployed in Chinatown where looting and burning of buildings continued on Friday morning and a new curfew was expected to be imposed later in the day.
WHO names new variant omicron, nations rush to restrict travel
A World Health Organisation panel classified the new variant as a highly transmissible virus of concern, the same category that includes delta.
Harry Potter publisher’s lover faces succession battle
Sons of the late Richard Robinson claim Iole Lucchese should not inherit the $1.6 billion Scholastic publishing company.
US voices ‘rock solid’ support for Taiwan in surprise visit
A bipartisan visit by members of the US House of Representatives comes as tensions between Taiwan and China have risen to their highest level in decades.
‘It was horrible’ How this expat’s trip home came unstuck
Trips are now measured in dollars, days and PCR tests. In pandemic travel, there is no flexibility when the paperwork isn’t right.
Property
Super Saturday: A record number of properties going to auction
There are 5431 auctions set to hit the market this week - a new national record - but there is no sign the market is about to peak, SQM Research says.
Sydney home buyers face a record 16 years to save a deposit
The time it takes home buyers to save a deposit for a house in Sydney has blown out to 16.6 years and they now have to spend 60.4 per cent of their income to repay the new mortgage.
Mother and daughter transform rundown pub, sell for $14m
Publican Fraser Short has snapped up a country NSW hotel that has gone from a wreck to a regional tourism powerhouse.
Auction listings double as sellers rush to beat Christmas
The number of homes set to go under the hammer surged to a record 4354 this week, as Sydney, Adelaide and Canberra posted their largest auction volumes.
Lender NAB set to put ABD Group in administration
Concerned developers were not even waiting for lenders to take action against the builder and are already racing to find alternative construction companies.
Wealth
Why your SMSF may have to sell shares when you die
Though the law now allows up to six members of a self-managed super fund, your super balance will need to be paid out of the fund as it can’t be inherited by younger members.
Verbal promises on inheritance create legal rows post-lockdown
A row involving the estate of renowned academic Dame Leonie Kramer has highlighted legal issues expected to explode as pandemic restrictions are eased.
Four radical ideas to fix the broken wealth advice model
Industry, regulators and consumer groups agree that the skyrocketing cost of financial advice is not in the national interest, but are split on the many and varied solutions.
Technology
This former crack addict now knows the secrets of the universe
Before he became an acclaimed cosmologist, Hakeem Oluseyi had to navigate the toughest neighbourhoods of New Orleans and LA and overcome drug addiction.
Behind Perpetual’s brave bet on WeWork
Once one of the world’s most richly valued start-ups, WeWork’s history has scared off investors. Thomas Rice is adamant the iconic company is on a redemption mission.
- Opinion
- Cyber protection
Cybercrime needs more than just reporting to stop ransomware attacks
The government wants big businesses to report ransomware incidents, but it should also consider banning them from paying ransoms.
Work & Careers
Employers ‘hold all the cards’ on jabs as mass sackings loom
Vaccination hold-outs or those who insist on working from home are “on a hiding to nothing” and dismissals are around the corner, say leading workplace lawyers.
Another 10 million students under education growth plan
A new 10-year strategy says international students should study courses more closely aligned with Australia’s economic needs.
Life & Luxury
How to make this hot new eatery’s dish to start a long, lazy lunch
Phil Wood has opened the doors of Ursula’s in Sydney’s Paddington. Create his crudo of snapper, scampi, tuna, avocado and basil pistachio pesto for yourself.
Phuket return for $297? Aussies rush to grab Black Friday deals
Always wanted to stay in a five-star hotel in London for weeks on end? Here’s your chance. The Black Friday sales have lit up international travel.
How vaping helped one ‘hideously addicted’ doctor quit smoking
Vaping nicotine to quit smoking is controversial, but some advocates say GPs have an ethical obligation to prescribe it because smoking is so harmful.
Gary Morgan is selling his collection of Australiana
One of Australia’s best known pollsters is parting with some of his collection of the earliest pieces of furniture made in Tasmania and NSW, colonial era jewellery, and historic paintings and watercolours.
The 19 best drinks of the year (including a $20 bargain)
Looking for the perfect Christmas tipple? These are the standout wines, beers and spirits of 2021 - and they’re all still available direct from the supplier.
