- Live
- Markets Live
ASX to drop as Wall St plunges in furious trading
Australian shares are poised to tumble 2 per cent with the S&P 500 set to close near or in correction territory. Follow updates here.
Latest Posts
Fed should focus on balance sheet first: Minerd
Market moves
S&P 500 on correction edge, Nasdaq eyes bear market
Bearish equity strategists see more selling
Last updated 6 mins ago
NATO scrambles ships, jets as Ukraine tensions build
The EU promises emergency funds to Kyiv, as Australia joins the countries pulling out diplomats’ families and advising against travel.
Furious WA doctors demand McGowan reopens
WA doctors say Mark McGowan betrayed them and the public by not sticking to his February 5 reopening plans, and staying closed is causing widespread problems.
Ocean freight costs keep import prices up
Consumer goods, fashion and electronics retailers face paying a premium to get goods into Australia before the start of Chinese New Year.
Quadpay founders sue Merrill Lynch over Zip share sales
The duo behind Quadpay have alleged that Merrill Lynch should not have pushed them to sell their Zip shares via a block trade.
- Live
- Need to Know
‘Stealth omicron’ rapidly gains ground in Europe
The omicron sub-variant, taking over in Denmark, is not expected to be more dangerous than the current omicron strain, but is spreading faster than its forebear. Follow updates here.
Albanese pledges $440m for schools, outlines his legacy
Wages and the standard of living will be higher by the end of Labor’s first term, Opposition Leader Anthony Albanese will pledge.
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SUMMER REVIEW
- From The Archives
- Platinum Year
Graeme Samuel, a ‘very aggressive operator’ for 40 years
AFR Classic | In January 1986, Robert MacDonald spoke to Macquarie’s Melbourne boss Graeme Samuel, “a very aggressive operator who pulls no punches”.
- Opinion
- Coronavirus pandemic
Get ready for the four-day working week
Younger managers are much more open to the idea than their bosses and female leaders like it too.
There’s a reason no one is smiling in luxury stores
Psychologists have discovered that when it comes to selling luxury goods, it helps to wear a neutral or even contemptuous expression.
Can omicron cause long COVID-19?
It is too early for scientists to know much about the relationship between omicron, vaccination and long COVID-19. But here’s what we know.
Corey Stoll on becoming the new face of ‘Billions’
The actor talked about taking over from Damian Lewis as the show’s chief nemesis, and why a do-gooder billionaire is still a billionaire.
Companies
Seppeltsfield owner buys Penny’s Hill winery in shift away from China
Warren Randall says the purchase of the McLaren Vale winery is part of a strategic shift prompted by the punishing China wine tariffs.
Tennis boss says ‘we did the right thing’ over Djokovic
Tennis Australia boss Craig Tiley says he is not personally responsible for the Novak Djokovic fiasco, but he feels regret over what happened.
Quadpay founders sue Merrill Lynch over Zip share sales
The duo behind Quadpay have alleged that Merrill Lynch should not have pushed them to sell their Zip shares via a block trade.
Big tech eyes small business market in Australia
The payments glue that holds big banking relationships together is under threat from tech, says disrupter.
Ateco eyes ASX as luxury ute demand soars
The group imports Renault, Maserati and LDV vehicles, and RAM luxury pick-up trucks where the top model sells for $150,000.
World is at a tipping point for climate action, executives say
A Deloitte report has found 74 per cent of Australian executives believe the world must act now to minimise the impact of climate change, up from 52 per cent.
Why oil refiners are targeting the $US320b algae market
Oil refiner Eneos and Honda have banded together to try to tap the potential of microalgae to help replace fossil fuels and to provide an array of food and consumer goods products.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Chanticleer
Tech valuations are dropping but VC leaders are unfazed
The threat of rate rises has hit the share prices of tech and growth stocks hard in recent months, yet industry titans are relaxed for two reasons.
Bitcoin’s new floor is $US30,000 as old supports crumble
The world’s largest digital asset is mired in its sixth straight day of declines, with the potential for still further losses.
ASX falls to 8-month low on Ukraine, higher rate fears
Australian shares extended losses on concerns that inflation will lead central banks to increase interest rates and remove stimulus that has boosted growth stocks.
- Opinion
- Cryptocurrencies
Why crypto is gambling and not investing
The waste of resources involved in creating and operating crypto exchanges is no worse than that in other spheres of gambling. But at least in those cases, it is recognised as gambling, writes Kevin Davis.
IMF warns Fed hikes to hit struggling economies
US central bank faces “delicate balancing act” between taming inflation and sapping recovery, says IMF managing director Kristalina Georgieva.
Opinion
The powerful iron ore miners in McGowan’s corner
Billionaires Gina Rinehart and Chris Ellison strongly pushed for WA’s continued isolation, while BHP and Rio Tinto are also believed to have been supportive.
Columnist
Interest rates to rise, markets correct
The question to be answered now is how much this unnaturally cheap money has distorted capital flows and how unruly is the correction.
Editorial
Dixon downfall raises fresh questions about financial advice
Advice firms need to be transparent with clients about all conflicts, so that financial planners maintain the trust on which the wealth industry rests.
Editorial
Why crypto is gambling and not investing
The waste of resources involved in creating and operating crypto exchanges is no worse than that in other spheres of gambling. But at least in those cases, it is recognised as gambling.
Contributor
New world order: Russia and China’s plans take shape
For Moscow and Beijing, the Ukraine crisis is part of a struggle to reduce American power and make the world safe for autocrats.
Columnist
Change a date that divides Australians instead of uniting them
The jumbled history of dates chosen to celebrate the nation’s foundations only seems to underscore that there must be better options out there.
Contributor
Politics
- Exclusive
- AUKUS
Defence firm shakes up management as nuclear subs deal looms
BAE Systems is appointing a new local chief executive.
No more federal grants to produce AdBlue, says Taylor
Incitec Pivot, which received a $29.4 million grant from the Morrison government to produce increased supplies of AdBlue, is now producing 3 million litres a week, or 75 per cent of national demand.
‘Aggro’ Graeme Samuel still speaks his mind 36 years on
The former ACCC chairman wants this understood: he has never sought to be offensive, just direct, and he rejects criticisms by some that he is arrogant.
$20m copyright buyout makes Aboriginal flag free for all
Luritja artist and activist Harold Thomas signed a deal to transfer control of the iconic Indigenous symbol to the Commonwealth.
Rapid test supply ramping up as millions of kits arrive in Australia
Deputy Prime Minister Barnaby Joyce claims rapid test kits are being hoarded, as consumers and big business bought up “more than they require”.
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World
‘Stealth omicron’ takes over in Denmark, arrives in UK
A sub-variant of COVID-19’s omicron strain called BA.2 looks even more transmissible, but the hope is that it won’t pose a bigger threat than its predecessor.
Kennedy rally against vaccine mandates transcends red-blue divide
Thousands of protestors turned out in Washington to push back against vaccine mandates for workers.
US tells diplomats’ families to leave Ukraine, weighs troop options
The advice announcement comes a day after UK authorities said they had information Russia was considering a former Ukrainian lawmaker as a potential candidate to head a pro-Russian leadership in Kiev.
China’s extended naval reach fuels Taiwan tensions
China has established a constant naval presence close to southern Japan and eastern Taiwan, in a marked expansion of Beijing’s sea power.
China steps up Taiwan sorties
The latest formation included 24 J-16 fighter jets and 10 J-10 jets, among other support aircraft and electronic warfare aircraft, according to Taiwan’s defence ministry.
Property
Property cycle shifts gears as buyers spend $68m at Gold Coast auction
Price growth is set to moderate on the Gold Coast just as an increasing number of vendors ask for more than buyers are prepared to pay.
Every apartment sells for a profit in these 12 Sydney suburbs
Landlords who sold their rental apartments across Sydney’s waterfront suburbs during the September quarter made hefty profits, but the outlook is less rosy.
iProsperity liquidators claim a $1.1m unit bought with company cash
Harry Huang allegedly used LZYH Investments to purchase an apartment using $350,000 of funds he transferred from iProsperity in two instalments, court documents allege.
Green spin on Cromwell’s energy HQ sale, more than $360m expected
Agents are working the green and ESG angles hard on the sale of Energex House in Brisbane, hoping to capitalise on investor appetite for all things ESG.
Scarcity drives demand for smaller, resilient malls
The Meadow Heights shopping centre in Melbourne’s outer north is one of only a handful of neighbourhood malls to have changed hands in the Victorian capital in almost two years.
Wealth
- Opinion
- Fintech
Investing in banks is only going to get more difficult
Bankers are becoming software engineers nowadays, and it could be a while before we find out how many of them are up to the job.
- Opinion
- GDP
Asset inflation decouples global rich from GDP
The expected end of easy money should help bring gross domestic product and net worth back into closer sync.
- Exclusive
- Managed funds
Australians pour $36b pandemic savings into managed funds
Australian investors deployed a record $35.7 billion to managed funds across all asset classes in 2021 amid a “flood of capital” into equities, fixed income and real estate products.
Technology
WeChat’s hijacking of PM could lead to banning of Chinese app
Attempts by Scott Morrison to regain control of his account on the Chinese social media app have been fruitless, leading commentators to suggest it could be banned.
Crypto crook blames bullies, ‘sugar babies’, greed for $123m fraud
Canberra-born crypto fraudster Stefan Qin has released a tell-all video ahead of his seven-year prison sentence in New York City for stealing $123 million.
How a former Goldman trader built a $US5.6b crypto behemoth
Dan Morehead launched his first crypto fund when a bitcoin cost less than a bag of groceries – turning his back on traditional assets for nearly a decade.
Work & Careers
Setback for Qantas staff in court case over ‘unproven’ jab
Some employees say the flag carrier did not sufficiently research the risks of the vaccination before imposing it on them.
- Opinion
- Governance
US boardrooms are slowly changing for the better
Despite howls from conservatives, the world has survived moves by the Nasdaq to require greater diversity on company boards.
Life & Luxury
Attack is the best form of defence, say karate-mad executive coach
Paul Taylor once delivered a presentation with blood streaming from his eye after a tough tournament. Appropriately, his subject was resilience.
Making your running resolution stick
We often don’t think about our mind being trainable, but it’s as trainable as our body.
Times a’changing: Patek Philippe, IWC under threat from independents
The watchmakers we’ve known for decades are under a fresh assault – and it’s not from smart watches.
- Opinion
- Style
How the brilliant André Leon Talley got sidelined
As much as Vogue’s only black creative director was a luminary and an inspiration, his was also a cautionary tale about being black, gay and talented in a white, elite fashion world.
50 great ways to travel in Australia this year
With many of us not yet ready to forsake our shores for adventures abroad, here’s our guide to what’s new, refurbished or just plain hot across this country in 2022.
