Santos buys gas pipeline to ‘inject new supply into NSW’
The move provides a potential route for gas to flow from the Narrabri project in NSW, and could open up competition in gas transportation on the east coast.
NSW Building Commissioner flagged concerns about Barilaro’s developer
A day after Perrottet revealed David Chandler’s resignation letter had been referred to ICAC, the document has been released confirming he had concerns about the relationship between a developer and a minister’s office.
- Opinion
- Telecommunications
Penn exits Telstra on his terms
After seven tumultuous years at Telstra, Andy Penn is delivering a higher dividend and optimism about Telstra’s ability to deliver improved results and service as he hands over to Vicki Brady, writes Jennifer Hewett.
- Exclusive
- Superannuation
Australian super funds zoom in on Jokowi’s privatisation push
Australian workers, through their super and the $201 billion Future Fund, may become a bigger part of Indonesia’s infrastructure drive.
CBA says construction downturn at midpoint, housing demand strong
Commonwealth Bank’s head of business banking, Mike Vacy-Lyle, says discretionary retail is showing signs of softness as interest rates start to bite.
ASX rises 1.1pc as US inflation eases
Australian shares traded to a high of 7071 following a rally on Wall Street after inflation surprised on the downside.
- Opinion
- Corruption
State Liberals’ integrity blues are of their own making
The travails of Dominic Perrottet and Mathew Guy show that if the public’s imagination is not captured by politicians’ policies, something else will get voters’ attention, writes John Roskam.
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Companies
ASIC warns on social media as meme stocks surge
The corporate regulator has warned investment platforms against gamification of markets and consumers against receiving financial advice from social media.
AGL gas rebates short-lived in ‘difficult’ market
Rebates being offered to customers on gas by AGL are only likely to be temporary as manufacturers and retailers struggle to secure longer-term supply.
- Opinion
- Chanticleer
The brave call Andy Penn got right at Telstra
Andy Penn helped rebuild the trust between Telstra and the market; the company’s shares are up more than 50 per cent since he announced the T22 strategy in 2018.
Apple agrees offtake deal with Queensland wind farm
Apple has agreed to purchase renewable energy from an Australian wind farm, developed by a company majority owned by Andrew Forrest.
AMP pledges to return $1.1b to shareholders
The wealth giant reported a 24.5 per cent slump in half-year profit but will throw long-suffering shareholders a bone in the form of a $1.1 billion capital return.
James Hardie’s new director in restart after $1b Bunnings disaster
A boardroom reshuffle at James Hardie means Anne Lloyd will be chairwoman, with ex Bunnings executive PJ Davis to be an Aust-based director.
Corrs CEO has regrets over Catholic legal work saga
Gavin MacLaren says he wished he had spoken to church leaders before news broke that the firm would forsake abuse work.
Companies in the News
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Markets
Why ‘peak earnings’ compelled this fundie to sell Macquarie
Chester’s Rob Tucker on why he sees opportunity in gold stocks, Seek’s potential earnings season surprise, and the value lurking in News Corp.
Top Fed official says too early to ‘declare victory’ on inflation
The San Francisco president pointed to price rises remaining “far too high” but she signalled initial support for smaller rate increases.
$A, shares jump after US inflation slows
The Australian dollar and ASX rose after the July US inflation report doused speculation of aggressive Federal Reserve rate increases, and undermined the greenback.
- Live
- Markets Live
ASX rises, Santos acquires Hunter Gas Pipeline
Australian shares follow US shares higher after soft inflation data. QBE reports $151m profit. AMP’s bumper capital return. Telstra chief executive Andy Penn on the telco’s full-year results.
- Analysis
- Inflation
Are markets missing the critical inflation question?
The sharemarket has focused on picking the top of US inflation, but the real concern is how long it hangs around, and how the Federal Reserve will respond.
Opinion
How a quant may have unleashed the revenge of the meme stocks
“Let ’em come,” Cliff Asness told meme traders after revealing he was shorting their favourite stock, AMC. And come they did.
Senior reporter
Palmer case delivers lessons for judges, politicians
The judgment in the defamation battle between Clive Palmer and Mark McGowan, as well as new laws requiring plaintiffs to prove “serious harm”, are cause for hope.
Defamation lawyer
How to make America the green investment capital of the world
With the Inflation Reduction Act, US politicians have this choice. If they fail to take it, those green jobs will go to Europe, the Middle East and Asia.
Chairman of Fortescue Metals Group
Bankers fret over construction and commercial property
They are keeping a close watch on clouds gathering over these sectors, just as the entertainment, leisure and tourism market springs back to life.
Columnist
Comyn banks on the RBA delivering what’s needed
Matt Comyn delivered excellent financial results for CBA. But the year ahead looks more painful for bankers and customers alike.
Columnist
Australia’s banks can withstand end of cheap money
The Commonwealth Bank’s stellar results suggest the overall strength of the banking system will enable it to weather the interest rate correction without a crash landing.
Editorial
Politics
Chalmers pours cold water on ACTU demands
Treasurer Jim Chalmers has distanced Labor from the ACTU’s calls for a radical overhaul of how the economy is structured ahead of the jobs summit.
- Live
- Need to Know
Australia-China relationship hasn’t improved: Liberal MP
Liberal MP Karen Andrews says the Albanese government hasn’t improved China relations since taking office; Treasurer Jim Chalmers wants common ground between unions, business at jobs summit. How the day unfolded.
Globe-trotting Don Farrell lures trade hopefuls to family vineyard
The trade minister will host his British counterpart next month in what he hopes will be the first of several such foreign visits to Australia to improve trade ties.
‘No easy fix’ to businesses hitting the limits of the economy
Such are the uncertain economic times, economists are sceptical about whether the traditional capacity-hiring-investment paradigm will hold true.
Government will move quickly on jobs summit proposals: Chalmers
Jim Chalmers said the jobs summit does not require the attendance of Peter Dutton, who will boycott the event.
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World
New Zealand house prices fall for first time in 11 years
The reversal in house prices comes as the Reserve Bank pursues aggressive policy tightening to damp demand and curb inflation.
Mario Draghi isn’t coming to Italy’s rescue any more
The sooner the Italian Democratic Party realises it can’t ride on the technocrat’s coattails, the better its chances will be in next month’s vote.
- Opinion
- Global economy
The stuff of economic nightmares is playing out over Taiwan
The world is likely to split into rival blocs centred on the US and China, putting upward pressure on costs and reducing real incomes.
Trump refuses to answer questions about his business
The New York Attorney General’s investigation is probing whether the former president and his company improperly inflated the value of his assets.
Global minimum tax accord could collapse: Summers
A casualty of the Democrats’ tax-and-climate change bill could prove to be the historic tax deal reached in principle in October.
Property
Mirvac to sell $1.3b in office, retail assets as profit rises 4.6pc
The diversified developer reported a strong set of results, buoyed by settlements of key commercial projects in Brisbane and Sydney.
Mainfreight brings momentum to Logos’ Moorebank logistics hub
The intermodal terminal and state-of-the-art warehouses around it are slated to become a $4 billion logistics hub, a critical investment in the national supply chain.
- Exclusive
- Office
Occupancy rates plunge for first time in six months
The omicron wave and a surge in flu cases last month kept city workers home.
Staff will quit if they feel forced into the office
The pandemic triggered a change in workplace behaviour. But workers have now adjusted to new ways of working, and they expect employers to do likewise.
GIC backs Charter Hall’s $800m Collins Street tower
Major developers expect the post-pandemic shake-out of the workplace will drive a bifurcation in office stock: new buildings will win the war for talent and tenants.
Wealth
- Opinion
- SMSFs
Hottest new super strategies to help your kids and spouse
Recontribution tactics made possible by new rules are a game changer for older Australians and their families.
- Opinion
- Flat Chat
What to do when apartment owners in your building don’t pay bills
Some can’t pay their levies, some won’t, but there are ways to ensure you don’t pick up the tab.
I’m on a higher income bracket – is super worth it if I pay more tax?
A reader with a capital gain after selling an investment property is reminded how CGT is calculated and that the extra super tax is not as onerous.
Technology
Why Samsung sees its new folding phones selling out
Samsung has revealed new folding phones, new watches and new earbuds, all focused on eliminating problems found in earlier models.
Are you sure you’re not guilty of the ‘Millennial Pause’?
The first generation to grow up with social media, Millennials are now ageing out of it as their online habits become the subject of parody for Gen Z users.
SoftBank pledges sweeping cost cuts after $34b loss
Chief executive Masayoshi Son said he would review “everything” for potential cuts without any “sacred cows”.
Work & Careers
The $16m CFMEU rap sheet
From threats and intimidation, to calling workers bimbos, scabs and much worse, the building watchdog has had plenty to work with as it pursued the lawbreaking union.
University faces court for ‘threat’ to casuals against overtime claims
The workplace watchdog is pursuing the University of Melbourne for allegedly not re-employing a “Y-genner” casual academic because she sought pay for excess hours.
Life & Luxury
Are you sure you’re not guilty of the ‘Millennial Pause’?
The first generation to grow up with social media, Millennials are now ageing out of it as their online habits become the subject of parody for Gen Z users.
Fashion inspired by Bezos and Branson, coming soon to your wardrobe
The world’s runways are taking inspiration from the final frontier. But remember, no one can pull off a too-tight jumpsuit. That’s reaching for the stars.
New wine in old bottles: Reusing and refilling comes full circle
The practice goes back decades; it’s just that in times of plenty, we forgot how to be sustainable.
- Opinion
- Review
The never-ending search for the perfect robot vac
Ecovacs seems to give you a choice with its latest mopping robovacs: have all of your floor imperfectly mopped, or some of it perfectly mopped.
The Kanneh-Masons look and sound like classical music’s future
The seven black British siblings showed they have the prowess to back up their revolutionary status in the classical music industry, at the first concert of their Australian tour on Tuesday.
