NSW to launch $1b omicron recovery package
Rebates for businesses, grants for rent relieving landlords and cash for the arts sector are part of a $1 billion NSW support package, which comes as the state reported another 52 virus-related deaths.
- Opinion
- Monetary policy
Get ready for a new jolt: liquidity holes
The Fed’s pledge to shrink its balance sheet as well as raising rates means something rare may be about to happen in markets: a shortage of buyers for some assets relative to supply.
Ash Barty wins Australian Open title
World number one Barty’s victory ended Australia’s 44-year wait for a home winner since Chris O’Neil won the women’s title in 1978.
Reverse migration as sea and tree changers head back to the cities
Many workers swept up in the COVID-19 move out of the nation’s major cities are reconsidering their options and deciding it is time to return.
Russia has enough troops near Ukraine for invasion, Pentagon says
President Vladimir Putin of Russia has deployed the troops and military hardware needed to invade all of Ukraine, the Pentagon’s top leaders said.
Draghi to stay Italy’s PM after presidential deadlock ends
The re-election of Sergio Mattarella as President means former European Central Bank boss Mario Draghi will remain Italy’s Prime Minister.
Goldman tips Fed will raise rates five times this year
Goldman Sachs’s economists joined Wall Street peers in forecasting the Federal Reserve will raise interest rates more aggressively than they previously expected.
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weekend reads
‘Paul Keating was right about Asia’
Melanie Brock has been a conduit between Australia and Japan for three decades, entertaining senior politicians and sumo wrestlers on her Tokyo balcony.
The rise and rise of Hillsong
In this extract from the book, “Beyond Belief”, Elle Hardy describes the growth and global influence of the church, whose congregation in its early days included Prime Minister Scott Morrison.
How investors can navigate a world of rising risk
Threats from rising rates, inflation, COVID-19 and geopolitics are rocking markets around the world. Investors need to get used to volatility and uncertainty.
Schools the next battleground as election looms
Efforts to quash the omicron surge and travel the road back to normal will play directly into a febrile election season. One of the big tests will be getting children back to school.
‘Bat Out of Hell?’ Everyone hated it - at first...
The inside story of the mega-hit album that made Meat Loaf a superstar.
SMART INVESTOR
Be wary of buying the dip in tech stocks
The sell-off in tech shares has provided a window of opportunity for investors, but strategists warn it might be too soon to go bargain hunting.
10 tips for wealth when inflation starts to rise
Investment experts offer advice on managing your portfolio as interest rates go up and liquidity falls.
- Opinion
- Cryptocurrencies
Is crypto the 21st century tulip bulb bubble?
The history of financial crises teaches us several lessons that call into question the prospective durability of both crypto and decentralised finance.
- Opinion
- SMSFs
Seven lessons for investors from Dixon’s demise
Nice guys aren’t always good guys and there are a few lessons we can take to avoid being vulnerable to an adviser intent on profiting from, not for, you.
How can I top up my super balance as my wife has bulk of SMSF?
A withdrawal and contribution strategy helps even up super pension balances when one member has more. But it doesn’t always work.
Companies
Electric car demand drives Australian wheel company to new highs
Carbon Revolution said it had more than doubled sales in the first quarter of the 2022 financial year, while quarterly revenues jumped 82.6 per cent
Airfares are 20pc more expensive - and there’s little relief in sight
Ticket prices are expected to fluctuate over the next year until the airlines settle more firmly on their post-pandemic operations.
Fortunes diverge for listed fund managers in manic week
GQG Partners has led a decline in ASX listed fund managers as fund inflows were not enough to prevent a 20 per cent share market slide.
Training Australia’s next tennis world champion isn’t cheap
From the cost of racquets and shoes, to flights to Europe and the US, parents are paying an eye watering amount to raise the next Ash Barty or Lleyton Hewitt.
Barty, Nadal – and bigger crowds – set to salvage Australian Open
The Victorian government has increased the size of crowds allowed to attend the Australian Open just in time for the tennis finals.
Higher rates may not benefit banks amid intense mortgage battle
They can also expect any rise in interest rates to be offset by the unwinding of COVID-19-related funding benefits, analysts say.
Atlassian surge defies market jitters
Australia’s biggest tech company is defying the broader market slump and has given investors even more confidence in its quarterly earnings announcement.
Companies in the News
Search companies
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Markets
Apple paces Wall St rally, $A drops, iron ore leaps
US stocks had their best day since June 2020, thanks to a surge triggered by Apple. The Australian dollar slid below US70¢. Iron ore reaches for $US150 a tonne.
Iron ore reaches for $US150 a tonne on China bets
The spot price of iron ore has risen 24 per cent to start the year and the unexpected rally may not be finished just yet.
ASX rallies 2.2pc as investors pounce on tired markets
The S&P/ASX 200 shed 2.6 per cent this week, but rallied on Friday as investors capitalised on oversold conditions, and results on Wall St boosted sentiment.
Equities fight back against hawkish central banks
Strong results from Apple and Atlassian provided a glimmer of hope to anxious markets which no longer have the Federal Reserve in their corner.
Australian dollar slammed by Federal Reserve’s new mood
Surprisingly strong US economic output reinforced the Federal Reserve’s upbeat outlook at the expense of the Australian currency.
Opinion
Why the West cannot afford defeat in Ukraine
If Putin does achieve regime change through military means, NATO will lose and the West’s global reputation will take a big tumble.
Contributor
Scott Morrison is a collision between image and reality
The Prime Minister relies on a series of carefully crafted images. But when they get blurred, there is no core message to fall back upon.
Columnist
Two lessons for markets and central banks
Inflation is ending the age of the central bank put for markets. It’s credibility that has to come first now.
Editorial
Is crypto the 21st century tulip bulb bubble?
The history of financial crises teaches us several lessons that call into question the prospective durability of both crypto and decentralised finance.
Columnist
Seven lessons for investors from Dixon’s demise
Nice guys aren’t always good guys and there are a few lessons we can take to avoid being vulnerable to an adviser intent on profiting from, not for, you.
Senior reporter
Pandemic probe must look at the states too
A COVID-19 royal commission should go beyond what the Morrison government’s got right and wrong, and assess the track records of the premiers, medical bodies and their lobbyists.
Political editor
Politics
Australia takes first step out of France’s AUKUS doghouse
Foreign Minister Marise Payne has scored an invitation to a summit of EU and Indo-Pacific ministers in Paris next month.
- Exclusive
- Federal election
Independents threaten upheaval in key Lib seats: poll
Liberals in two key seats are under threat from independents campaigning for more action on climate change.
Nearly 100 more deaths but ‘encouraging’ signs hospitals are coping
Australia had its second deadliest day of the pandemic on Friday, but hospitals are tracking better than expected and booster shots are reducing severe disease.
International border could open before Easter: PM
Scott Morrison says there remains challenges with omicron and there is still work to do with the states, but he would like to see the borders open in coming months.
From Russia without love: Moscow’s man delivers warning to Australia
Ambassador Alexey Pavlovsky says Australia and the West’s backing for Ukraine could “lead to war”.
SPONSORED
World
Pandemic, human rights cloud China’s Olympic glory
China has changed dramatically since it hosted the 2008 Olympics. The open and more liberal country promised under former president Hu Jintao never happened.
Putin v the West: with Ukraine on the brink, who will blink?
The Russian leader can’t afford a military incursion except on his own terms. The West can’t afford to give him an excuse. Each needs the other to mis-step first.
EU draws up plans to target Russian gas projects
Britain and EU are preparing to hit new Russian gas projects with sanctions curtailing financing and technology transfers if the Kremlin orders an attack on Ukraine.
- Opinion
- Putin's Russia
How Putin wins in Ukraine without firing a shot
Moscow’s troops are not there to fight a war, but to frighten Paris and Berlin into giving Russia the eastern provinces of Ukraine on a plate.
The Bong Bong bounce: Marcos Jnr has the Philippines in thrall
He’s the son of an infamous kleptocrat but Ferdinand “Bong Bong” Marcos Jnr has a big lead in the race to become the country’s next President.
Property
There’s still one city where property prices haven’t gone crazy
Despite WA’s closed borders creating uncertainty, Perth property market insiders say the city’s relatively cheap prices and WFH is driving solid demand.
Renovation costs ‘are not going back down again, that’s for sure’
Global supply chain issues and pent-up demand are creating a perfect storm, and have pushed up renovation costs since the start of the COVID-19 pandemic.
Apartment rents jump 10 pc in inner Melbourne
Asking rents for Melbourne’s inner-city apartments have enjoyed a sharp reversal from the steep drops suffered during the pandemic.
Smoking on the balcony of an apartment declared a ‘hazard’
The Queensland regulator’s decision kicks back into play a national conversation about rights and responsibilities of people living in strata communities.
Singaporean powerhouse partners up to secure $202m retail deal
Investor appetite for essential retail properties shows no sign of slowing with the sale of another major asset, this time in inner-Brisbane.
Wealth
10 tips for wealth when inflation starts to rise
Investment experts offer advice on managing your portfolio as interest rates go up and liquidity falls.
- Opinion
- Monetary policy
The Fed policy error that should worry investors
By abandoning a systemic framework for monetary policy, the central bank has spawned an all-asset speculative bubble.
Billionaire Leon Black accuses Josh Harris of trying to destroy him
Leon Black has escalated his fight against former business partner Josh Harris, naming him as a defendant in a lawsuit that lays bare the bitter battle for control of Apollo Global Management last year.
Technology
‘A ton of value’: Atlassian surge defies market jitters
Australia’s biggest tech company is defying the broader market slump and has given investors even more confidence in its quarterly earnings announcement.
Has Silicon Valley lost its mojo?
Silicon Valley’s biggest promises – the ideas that really could change the world – seem further and further on the horizon.
The craziest gadgets at this year’s CES
From biometric devices for your pets to robot animals who gnaw your finger – it was all on display at this year’s Consumer Electronics Show in Las Vegas.
Work & Careers
New apprentices jumped 60pc, but thousands of jobs remain unfilled
Demand for apprentices and trainees is outstripping supply, another sign that skill shortages are biting deeply.
Look beyond a pay rise: How to choose between multiple job offers
Professionals need to look beyond the potential pay bump before jumping into a new work relationship, recruiters say.
Life & Luxury
- Exclusive
- Saleroom
The mysterious case of the $54k Margaret Preston that wasn’t
A painting by a Danish artist bought in Germany for €300 was sold months later in Sydney, this time bearing the signature of Australian Modernist Margaret Preston.
Who is Joe Rogan – the podcaster who can tell Spotify what to do
When Neil Young picked a fight with the massively popular host there was only one outcome.
A classic Holden once dubbed the ‘Plastic Pig’ could fetch $400,000
When it first appeared in showrooms in the 1980s, not even motoring enthusiasts were interested – and now these ‘Bathurst specials’ are a collector’s dream.
Now you can cook Nomad Sydney’s most popular dish
Chef Jacqui Challinor is overseeing the expansion of the popular Surry Hills diner, with a bar and deli, and a second restaurant in Melbourne.
- Opinion
- Motoring
Can this Mini offer the best of both electric and petrol?
The latest Mini Countryman Hybrid SE is a plug-in hybrid electric that blends a conventional engine with a modest-capacity electric drive system.
