Bans futile against omicron ‘already circulating’
While travel bans seem to make sense, they’re likely to prove ineffective, says Professor Barry Schoub, a health expert advising the South African government.
- Live
- Markets Live
ASX falls; global markets begin rallying
Australian shares erases losses to less than 10 points after heavy loss at the open; oil prices rebound; US futures firmly higher. Follow the latest here.
- Opinion
- Coronavirus pandemic
The virus hasn’t finished with politics just yet
For Scott Morrison, the seriousness with which the world is treating the new variant demonstrates the power of incumbency in a crisis, writes Phillip Coorey.
ATAGI to review COVID-19 booster program amid omicron threat
Health Minister Greg Hunt said authorities were closely watching the new virus variant but both cases in Australia were asymptomatic.
- Live
- Need to Know
NSW omicron cases are young, vaccinated, asymptomatic
Japan will close its border to all countries from Tuesday; Nineteen cases have been linked to recent mass gatherings in the Melbourne CBD; ATAGI has an ‘open brief’ from the government on whether it wants to speed up boosters. Follow updates here.
The new border rules sparked by omicron
After parts of Australia recently cut quarantine for international arrivals, the emergence of the COVID-19 omicron variant has caused a dramatic shake-up.
- Opinion
- Chanticleer
Why you should be wary of a Kiwi house price calamity
New Zealand’s mortgage market, which is dominated by Aussie banks, is heading for a testing time, with surging rates tipped to hit Kiwi house prices hard.
Need to know: The biggest stories in business, markets and politics, and why they matter, in your inbox at 8pm.
monday markets
- Opinion
- Sharemarket
Why markets are vulnerable to the omicron scare
The surge in real estate and equity prices leaves indices highly susceptible to rising interest rates and the threat of another bout of lockdowns.
- Opinion
- Coronavirus pandemic
Omicron will cast a lasting pall over financial markets
The omicron variant poses an immediate and downside risk to consensus expectations for growth, inflation and earnings.
A hedge fund sleuth who seeks only the truth
Joyce Meng marries immigrant hustle with Wall Street smarts at FACT Capital, a New York start-up investment firm that’s not shy about chasing winners in China.
Lovisa’s reality check may be short-lived
Brokers remain confident about the outlook for Lovisa, despite signs that supply chain constraints are squeezing margins and Europe’s COVID-19 wave is threatening sales growth.
- Opinion
- Investing
New virus variant cools inflation embers
Investors are fearful that strict COVID-19 related restrictions will return and dent the global economy.
Podcast | How Australia’s top entrepreneurs built their fortunes and what they learnt along the way.
Companies
- Exclusive
- Funding
CreditorWatch founder returns to stop fake invoice scams
A fintech start-up has banked investment, as it looks to use open banking stop the kind of business email compromise scams, that brought down Levitas Capital.
- Exclusive
- Venture capital
Women-only VC fund banks $45m and targets $100m fund
Artesian closes its first $45 million tranche of a new $100 million fund that will only back tech start-ups run by women targeting female customers.
ASIC effectiveness review has broad scope: Nicholas Moore
The FRAA’s first ASIC review will delve into all of the corporate regulator’s core functions
The fastest growing companies and start-ups in Australia
Grow Finance tops the 2021 AFR Fast 100 list and GetFish is toplister among 2021 AFR Fast Starters.
- Opinion
- Nuix investigation
ASIC in a tricky spot as it investigates Nuix
One of three investigations into Nuix will be released in the next few weeks as the new CEO is expedited into the role of cleaning up the company.
Starting a company? Be prepared to lose your house
Creating a $4 billion wealth management group took ‘a lot of shoe leather, a lot of hard work, a lot of commitment’ says Netwealth’s Michael Heine.
Zero alcohol brewer raises $8.5m to fuel growth
Adore Beauty founder Kate Morris and Who Gives a Crap eco toilet paper founder Simon Griffiths are investors.
Companies in the News
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Markets
Macau casino stocks sink after police arrest junket king
The detention of Suncity Group CEO Alvin Chau marks the first time such a high-profile figure in the gaming industry has been targeted.
- Opinion
- Investing
How to fool a billionaire with Elizabeth Holmes
Elizabeth Holmes, charged with fraud over the Theranos collapse, understood the psychological vulnerability of the ultra-rich.
- Opinion
- Coronavirus pandemic
Omicron resurrects the risk of US stagflation
Extrapolating the market’s reaction to the economic outlook should be done with some caution, and particularly so for inflation, says Mohamed El-Erian.
Markets tumble as omicron variant threatens recovery
Australian share futures indicate a 1.4 per cent fall on Monday as concerns over new strain sap financial markets.
How markets were looking before the ASX opening bell
Australian shares are set to shed 1.4 per cent at the open, extending Friday’s 1.7 per cent drop, as global investors leap to the sidelines. Oil crashes.
Opinion
Omicron is warning to spread global vaccinations fairly
Emerging economies are a year behind developed economies in vaccinating their citizens. There are ways to speed things up.
Contributor
The virus hasn’t finished with politics just yet
For Scott Morrison, the seriousness with which the world is treating the new variant demonstrates the power of incumbency in a crisis.
Political editor
Biden declares independence by keeping Powell at the Fed
The most important appointment of Biden’s presidency has protected the role of the Federal Reserve - and reaffirmed his independence from the Democrat left.
Columnist
Where’s Morrison’s ambition for Australia?
Scott Morrison’s transactional government seems merely to want to return to the rut of slow economic growth with no ideas for the future.
Columnist
Deal with omicron uncertainty by preparing for the worst
A good precaution for the uncertainty of a new more contagious virus would be making sure the medical regulator makes forward-looking decisions on variant-specific vaccines.
Omicron will cast a lasting pall over financial markets
The omicron variant is going to cast a pall over financial markets into year-end. It poses an immediate and downside risk to consensus expectations for growth, inflation and earnings, writes Grant Wilson.
Contributor
Politics
What scientists know about omicron so far
Scientists are studying whether omicron leads to severe illness, and won’t know for a few weeks if existing vaccines will work.
Call for five-day mandatory hotel quarantine to stop omicron
All returning travellers should do five days hotel quarantine as a precaution against the omicron variant amid predictions it will spread globally and to Australia.
Dutton’s grim warning over Taiwan ‘spot on’, says PM
Prime Minister Scott Morrison insists that Australia cannot afford to show weakness as China becomes increasingly assertive.
Omicron has caused panic, but no reported deaths yet
Although spreading, the new variant is entering a far more pandemic-savvy world than its predecessors, and can be easily tracked.
NSW confirms two cases of omicron variant
Genomic testing has confirmed Australia has its first cases of the new omicron variant after two recently returned travellers from southern Africa tested positive to COVID-19. NSW and Victoria say the new variant will be impossible to keep out.
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World
- Analysis
- France
‘Napoleon of media’ plots to shake French elite
Vincent Bollore’s empire-building is behind the political rise of firebrand Eric Zemmour.
US braces for omicron as WHO urges caution
President Joe Biden, returning to Washington following the Thanksgiving holiday weekend, said he would meet with his COVID-19 response team.
- Opinion
- Defence
There is no ASEAN consensus on AUKUS
Some south-east Asian nations are worried that AUKUS could affect ASEAN’s stabilising role in a volatile geopolitical landscape.
This sketch bought for $40 could sell for $70 million, say experts
A Massachusetts man bought an unassuming drawing at a house clearance sale that was found to be a 500-year-old work of German Renaissance artist Albrecht Dürer.
‘Unusual but mild’ symptoms, says doctor behind omicron discovery
Dr Angelique Coetzee noticed otherwise healthy patients demonstrating unusual symptoms and worries how the new variant might hurt the elderly.
Property
Pub heir buys third Hunters Hill house in a row (for $13m+)
If there’s a standout class of buyer this year helping fuel Sydney’s property prestige boom, it must be the next-door neighbour, as shown by Phillip De Angelis.
Sydney, Melbourne property markets cope with listings surge
Sydney’s property market performed strongly over the weekend, coping with a surge in listings as buyers continue to bid aggressively and pay record prices.
Grattan proposes $20b fund to build 3000 homes a year
Social housing is expensive and no vote-winner, but it is an increasingly important form of social infrastructure as property prices rise higher.
Farmland still offers good value despite price surge: Angus king
Having returned the Woolnorth Aggregation in north-west Tasmania to Australian ownership, Tim Roberts-Thomson plans to turn it into an Angus beef powerhouse
Equity flows shift to externally managed REITs
Once derided, externally managed REITs are back in favour and have dominated listed sector raisings through 2021.
Wealth
- Opinion
- Investing
Ways to build on ETF foundation
An open-minded approach and appreciation of what is really represented in an index should underpin the decisions behind a thoughtful share strategy.
- Opinion
- Commercial real estate
‘Dark stores’ a continuing opportunity for investors
What’s critical here is access to customers rather than an iconic retail precinct address.
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.
Technology
Young high-achievers head to VC land to hunt unicorns at Blackbird
Blackbird Ventures has hired five new associates to help find it unearth the next game-changing local start-up, as it plans a new $1 billion fund.
- Exclusive
- Currencies
Bumble, TikTok users warned of financial marketers targeting apps
App users are ‘matching’ with recruiters who initially pretend to seek friendship, but are trying to enlist people for Blue Tongue Tradehouse’s investment scheme.
From street drugs to 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.
Work & Careers
‘It’s not you, it’s me’: How to break up with your boss
The most dreaded part of getting a new and exciting job is likely to be handling the break-up with your existing boss.
Looming engineering skills crisis will cripple productivity
Australia has for too long imported engineering skills to prop up the economy, but crunch time will hit by the end of the decade.
Life & Luxury
Wellness in the wilderness at Pumphouse Point retreat
Lake St Clair in Tasmania is the perfect setting for an antidote to the stresses of this year – and the excess of Christmas.
Exercise may not make you as hungry as you think: study
Being active is thought to affect your appetite, but fresh research suggests people should not be afraid that if they work out, they will overeat.
Louis Vuitton artistic director Virgil Abloh dies
The designer, 41, had battled a rare form of cancer for two years.
Meet the executive who swapped a rugby ball for a bicycle
‘I can work hard physically without breaking myself,’ says Pure Storage vice-president Michael Alp. He answers our Time Out Q&A.
Why this $3.5m Lamborghini is a gift that keeps on giving
If you’re looking for that exclusive something for the petrolhead in your life, look no further. There might be travel involved for both of you.
