Morrison vents frustration with NSW ‘factional rubbish’
An embattled Scott Morrison has threatened federal intervention to secure the preselections of two cabinet ministers and a senior MP.
Third doses set to be required for full vaccination
The expert immunisation panel on vaccinations will hand its latest advice to the federal government within weeks.
- Opinion
- Chanticleer
Telstra’s satellite hit to NBN
Telstra is stepping up its investment in satellite and fibre optic networks, a move that will put more pressure on the government-owned National Broadband Network.
PM says it wasn’t a federal minister who called him psycho
Scott Morrison has disputed reports that a minister who two years ago labelled him a ‘fraud’ and ‘complete psycho’ is a member of the federal cabinet.
Tax breaks on housing and super top $400b
Exempting the family home from capital gains tax is projected to cost the budget more than $255 billion over the next four years.
Rio’s bullying and cultural woes blamed on union-busting past
Elimination of trade unions from much of Rio’s Australian workforce created a culture of “sycophancy” and an unhealthy reliance on middle managers, unions say.
- Opinion
- RBA
Phil Lowe plays the waiting game
The Reserve Bank governor concedes the economy might continue to surprise in 2022 – and that will be good news even if it damages the bank’s forecasting credibility.
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RBA DECISION
Rate hawks circle as Lowe concedes 2022 in play
Shares extended their gains and bond yields eased after the RBA governor framed 2023 as the central rate hike scenario, although 2022 was possible, he conceded.
- Opinion
- Monetary policy
The RBA is flying blind in the pandemic
RBA governor Philip Lowe was forced to admit an interest rate rise later in 2022 was now “plausible”, after only three months ago dismissing it as “extremely unlikely”, writes John Kehoe.
- Updated
- Interest rates
Rate rises in 2022 are ‘plausible’: RBA’s Lowe
Interest rates could plausibly lift off later this year if the economy continues to outperform expectations, according to RBA governor Philip Lowe.
- Opinion
- Chanticleer
Ray Dalio’s Bridgewater backs RBA’s rate wait
Bridgewater Associates believes investors are generally too sanguine about inflation. But it says stimulus can run further in Australia.
What Philip Lowe says about interest rates, market prices and property
The Reserve Bank governor again questioned the rationality of how markets are pricing the chances of an interest rate increase.
smart investor
- Opinion
- Inheritance
How a new spouse can inherit without excluding your kids
A testamentary life interest trust can be useful if you want your assets to be available to a surviving partner but, after their death, to go to children from a previous marriage.
- Opinion
- Sharemarket
PE ratios not as important as you think
The rise of intangible assets on balance sheets is one key reason many professional investors argue the commonly used valuation measure is no longer useful.
- Opinion
- Investing
China’s 2022 growth should be ‘good enough’
While better growth from stimulus is positive for cyclical support for the global economy, it puts the country into yet another year of debt build-up.
- Opinion
- SMSFs
Should I keep my SMSF going?
These are the sorts of questions older DIY fund members need to ask to help them make well-informed decisions.
- 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.
Companies
Sydney Airport investors to cast final votes on takeover
Australia’s biggest airport will be delisted from the ASX next week if a $23.6 billion takeover bid is approved by investors on Thursday.
Electric vehicles set for range parity with petrol cars by 2024
Bell Resources expects new EVs will soon be able to travel the same distance as an internal combustion engine type, rapidly boosting sales of the zero emission cars.
Fortescue buys stake in nascent hydrogen tech company
Sparc Hydrogen is looking to produce hydrogen using only sunlight and water, instead of using electrolysis powered by renewable sources.
Mercedes-Benz used ‘updated’ Deloitte report to obscure profit hit
Australian dealers claim the German company used a report that excluded a previous warning about a hit to their profits, amid their $650 million court battle.
Critical minerals miners soar as government loans flow
Shares in critical minerals companies have surged after winning loans from the government as part of a push to capture the growth in EVs and clean energy.
Amcor rams through $650m of price rises as inflation jumps
The world’s biggest consumer packaging group has clawed back rising raw material costs in resins, aluminium, ink and solvents.
- Opinion
- Chanticleer
Why it’s not as simple as rates up, bank stocks up
Another fascinating year for Australia’s big banks kicks off on Thursday, as Westpac reveals its quarterly trading update and chief executive Peter King fronts a call with analysts and media, something that doesn’t typically happen with such results.
Companies in the News
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Markets
ASX gains 1.2pc as investors rethink January sell-off
Blue chips advanced to the highest level in more than a week as companies begin to deliver first-half profit results.
Forager ready to go hunting after savage sell-off
Forager Funds is hoping to make amends for a dismal performance in its global fund over the last six months by seeking bargains in the indiscriminate sell-off in equity markets.
ASX climbs 1.2pc; miners rally; Block drops 5.6pc
Shares add 81.7 points to 7087.7; governor Lowe says, “it’s certainly a plausible scenario rates go up later this year, but there are a lot of other scenarios as well”; miners and energy stocks lead the market; Computershare rises on UBS upgrade.
APRA says crypto will force changes to the ‘regulatory architecture’
Policy priorities for the prudential regulator include developing new rules that could beef up oversight of crypto and other fintechs while allowing innovation.
St Baker debuts second Nasdaq listing in as many weeks
Graphite producer Novonix is the second company in the electric vehicles space that coal baron Trevor St Baker has listed in the US in two weeks.
Opinion
Phil Lowe plays the waiting game
The Reserve Bank governor concedes the economy might continue to surprise in 2022 – and that will be good news even if it damages the bank’s forecasting credibility.
Columnist
Living with COVID-19 means businesses must sink or swim
Companies that can’t survive in the pandemic economy will need to make way for those with viable futures.
Economics editor
Why IVF is more equal than other healthcare in the pandemic
When the virus has so heavily disrupted birth and death rituals, the special treatment of infertility services reflects a particular kind of feminism.
Contributor
The Fed is too late to remove the punchbowl
Despite all the noise, monetary policy is still aggressively loose, even though the US economic recovery and surge in inflation have long been clear.
Contributor
Morrison sees chance of a lifetime
Those expecting the Prime Minister to prostrate himself before the nation and apologise profusely would have been disappointed by his National Press Club address.
Political editor
Why US inflation will probably follow meme stocks lower
With US stimulus payments at an end, far fewer amateur investors will be piling into the sharemarket.
Columnist
Politics
Morrison vents frustration with NSW ‘factional rubbish’
An embattled Scott Morrison has threatened federal intervention to secure the preselections of two cabinet ministers and a senior MP.
PM, Labor defend Israel over apartheid claim
Amnesty International says Israel is guilty of apartheid over its treatment of Palestinians.
Special ballot access planned for isolating voters
Australians stuck in COVID-19 isolation will be allowed to vote in-person at this year’s federal election
‘Inequitable’ and ‘unsustainable’: Call to cap super balances at $5m
A person with a superannuation balance of $5 million can achieve annual tax concessions of around $70,000.
Qld set to break power record
Queensland’s heat wave is set to test the power grid this afternoon; Cabinet ministers defend Prime Minister over text saing he was a “psycho”; Australia has delivered 8m COVID-19 boosters. Follow updates here.
SPONSORED
World
US sends cybersecurity chief to aid NATO against Russian attacks
An invasion of Ukraine would almost certainly be preceded by renewed cyberattacks on Ukraine’s electric grid, communications systems and government ministries.
Putin says US has ‘ignored’ Russia’s concerns about Ukraine
Russian officials were still drafting a formal response to US security proposals aimed at deescalating the Ukraine crisis.
Tesla recalls cars over ‘rolling stop’ feature
The rolling-stop problem is the latest in a series of safety issues involving Tesla.
Teen who demanded $70,000 from Musk targets more rich jets
Jack Sweeney has been blocked by the Tesla CEO on Twitter. But he is now launching a business that monitors the movements of other tycoons, such as Jeff Bezos.
China’s American-born Olympic star is playing it safe
Teenage freestyle skier Eileen Gu is the face of China’s efforts at the Winter Games, and she has no desire to talk politics.
Property
Restored Balmain ‘gothic’ mansion sells for record $19m
The sale of the non-waterfront mansion smashed the previous record in Balmain East by over $4 million, a reflection of how high luxury property values have soared.
- Exclusive
- Capital raising
iBuildNew seeks to disrupt off the plan, new-build real estate market
The prop tech has hired Ad Astra Corporate Advisory to lead a $10 million capital injection.
Records smashed as commercial property transactions hit $71bn
In what’s been dubbed the ‘year of the megadeal’, the total value of commercial properties sold through 2021 was the highest-ever.
Sydney developer buys Melbourne hotel at ‘below replacement value’
Sydney developer Eduard Litver says he paid less for the ibis Budget than what it would have cost to buy land in the Melbourne CBD and build a similar hotel.
Housing market shows ‘fragility’ despite small gains
The 1.1 per cent nationwide bounce in prices in January hides the longer weakening growth trend, particularly in Sydney and Melbourne.
Wealth
- Opinion
- Superannuation
Ensure you get it right when making downsizer contribution
Timing is important when it comes to being able to contribute $300,000 each from the proceeds of a sale even if you have more than $1.7 million in super.
Sydney private schooling costs approach $500k in pandemic hit
One in three parents say they are under financial pressure as a result of educating their children, and COVID-19 made matters worse.
- Opinion
- Investing
China’s 2022 growth should be ‘good enough’
While better growth from stimulus is positive for cyclical support for the global economy, it puts the country into yet another year of debt build-up.
Technology
Google shakes off omicron with shopping ads and cloud revenue
Advertising revenue grew 33 per cent during the holiday quarter, despite the disruptions to travel and retail from the spread of the omicron variant and supply chain crunches.
Why Spotify’s Joe Rogan problem isn’t going away
The risk for the streaming platform, which has aggressively promoted Rogan’s podcast, is that music’s biggest stars will join the protest.
Sony joins game-buying spree with $5b Bungie purchase
Sony is buying video game developer Bungie, the latest major deal sweeping the sector.
Work & Careers
How these executives slashed meetings
The Australian division of a fast-moving consumer goods company eliminated 25,000 hours of meetings across its 130 staff over a 12-month period.
Why this fintech exec says a commute is never dead time
BOSS Young Executive and LanternPay general manager Mirinda O’Gorman discusses her business travel tips and her favourite triathlon.
Life & Luxury
‘An absolute gentleman’: Glenn Wheatley remembered as music visionary
Glenn Wheatley, who died from COVID-19 complications, has been remembered as a legend who saw the potential in a washed-up pop singer named John Farnham.
Adventures aplenty at Hobart’s newest luxury hotel
After pandemic delays and great anticipation, The Tasman is finally open.
- Opinion
- Wine & spirits
These single malts look like absolute bargains
Demand for craft spirits has inspired several heritage Australian wine companies to dust off long-mothballed equipment and get on the whisky bandwagon.
The great corset controversy
Torture device or empowering confidence booster? Corsets have attracted controversy throughout the ages, but new research suggests they were more comfortable than the modern bra.
The best brain foods you’re probably not eating
‘Many people think about food in terms of their waistlines,’ says one psychiatrist. But it also hits mental health. ‘It’s a missing part of the conversation.’
