Jetstar may not have happened with multi-employer bargaining: Joyce
The Qantas CEO said he fears the Albanese Government’s multi-employer bargaining will hamper innovation.
Revealed: how crooks got inside Medibank
Criminals stole the login details of someone with high-level access to Medibank systems, before selling them to a crook on a Russian language forum, who then made off with huge amounts of data.
Leadership shake-up in Forrest empire as Andrew Hagger departs
Australia’s richest man, Andrew Forrest, says he is sad to see the chief executive of his private investment arm and philanthropic interests exit.
- Opinion
- Inflation
Why business hates Burke’s workplace ‘reforms’
Jim Chalmers’ first budget won’t be as significant as the impact of the workplace relations bill also being introduced this week.
- Opinion
- Carbon challenge
Dan Andrews’ sales pitch for renewables plan appears doomed
The Victorian premier clearly envisages a new career for himself as an infrastructure funds manager, even though he has none of the requisites for success, writes Karen Maley.
- Exclusive
- Federal budget
NSW pitches for federal money after $8.6b pledge to Victoria
The $3.3 billion HumeLink transmission line and “renewable energy zones” are top of the wish-list for Commonwealth funds.
Budget to kickstart super for housing
Government and industry sources say an initial investment in the policy will be included in the budget to get the idea off the ground.
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Budget 2022
Jobs, climate and crypto top tech sector’s budget wishlist
Bosses say funding for skills development and decarbonisation are urgently needed in Tuesday’s federal budget.
GDP growth to plummet next year as cost of living bites
A slump in household consumption will result in economic advancement taking a sharp downturn, Tuesday’s budget will forecast.
- Exclusive
- Federal budget
NSW pitches for federal money after $8.6b pledge to Victoria
The $3.3 billion HumeLink transmission line and “renewable energy zones” are top of the wish-list for Commonwealth funds.
- Analysis
- Federal budget
Outcry over UK mini-budget shaped treasurer’s thinking
For Jim Chalmers, the importance of his first budget really sank in at a high-powered meeting in Washington.
Cut spending or face higher interest rates, EY tells Chalmers
If government spending is not cut harder, the RBA will have to raise interest rates higher, EY chief economist Cherelle Murphy says.
Companies
Santos says union’s Alice in Wonderland satire ‘crossed the line’
Offshore oil and gas company Santos has reached a deal to stop unions using the Mad Hatter and the Tin Man in Facebook posts after it complained the satirical posts belittled real-life managers.
Big hydrogen warns newcomers that electrolyser dreams won’t come easy
As the likes of Fortescue build new hydrogen electrolyser factories, a Norwegian giant says only a fraction of the promises will be kept.
Energy retailer squeeze worsens as hedging costs spike
Market volatility has seen financial intermediaries either retreat or ask for more collateral, increasing costs for Australia’s smallest retailers.
- Exclusive
- Big four
Big four may back $400m social impact investment bank
The prime minister has reconvened the social impact investing taskforce, which has engaged with major bank CEOs on a co-funding model for social services.
- Opinion
- Chanticleer
For five years, Macquarie beat the big four. That may change this week
ANZ and Macquarie’s results this week should help explain why the big four banks are rallying, and Macquarie is sliding.
Fat profits ahead for the big banks – just don’t ask them why
ANZ kicks off the reporting season for three of the four major banks on Thursday. But it will be keen to divert attention from its higher margins, says a top analyst.
Viva reports its best quarterly sales since before COVID-19
The result extends a period of strength for Viva Energy, the future of which was only secured in May by government fuel subsidies.
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Markets
- Opinion
- Chanticleer
Is it time to believe in a Santa sharemarket rally?
The narrative that markets can rally heading into the end of the year has gone from hopeful to consensus. But should investors believe in a pre-Christmas bump?
China plans for yuan to challenge US dollar’s global power
The US dollar’s weaponisation against Russia has Beijing advancing plans to introduce the yuan for cross-border trade and investment, says Enodo Economics.
The best picks among lithium stocks from $7b Argo
Demand should exceed supply in lithium for five years, while big gas producers Woodside and Santos are poised for a purple patch.
China’s economy shows mixed recovery in Xi’s big challenge
China’s economy rebounded in the third quarter, but markets tumbled after Xi Jinping unveiled his new leadership team.
ASX advances 1.5pc as materials surge; Novonix soars 30pc
Australian shares trim earlier gains. All sectors higher, led by materials. China Q3 GDP growth exceeds expectations. OZ dips below BHP offer price. RBA’s Kent $A fall only modestly inflationary. Follow here.
Opinion
Labor going backwards on IR, productivity and wages
Now more than ever, pay rises need to be linked to productivity gains to avoid feeding into, and being eaten up by, inflation. That requires a modern workplace agenda.
Editorial
Chalmers’ challenge: confronting the structural deficit
This budget won’t fix the problem: but ageing- and productivity-related problems are increasing funding pressures, and the tax system isn’t up to the revenue task.
Former Labor minister and economist
Xi’s loyalists have one mission: keep China rich and powerful
The inbox of the seven politicians on the Politburo will be about one thing and one thing alone for the foreseeable future: the parlous state of the Chinese economy.
Sinologist
How the BoM got lost in pointlessness and Parkinson’s law
Facing many difficult challenges, why did the Bureau of Meteorology engage in a trivial renaming exercise that wasted time and $220,000?
Senior correspondent
Pandemic decisions cannot be made on the run: independent review
Australia’s next disaster needs broad teams of experts in place and public servants who can talk easily across state and federal boundaries.
Contributor
Labor needs a growth agenda
Events are moving beyond the “conversation” that Treasurer Jim Chalmers wants to start on Tuesday night after bedding down most of Labor’s election spending promises.
Editorial
Politics
Thorpe to face probe over relationship with ex-bikie boss
The Greens senator said she would refer herself to the privileges committee over links with an ex-Rebels bikie gang president.
We’re trying to make you spend less, RBA reminds Australians
Assistant governor Chris Kent has issued a reminder that the central bank wants rising interest rates to cut disposable income and reduce discretionary spending.
- Exclusive
- Federal budget
NSW pitches for federal money after $8.6b pledge to Victoria
The $3.3 billion HumeLink transmission line and “renewable energy zones” are top of the wish-list for Commonwealth funds.
Chinese media says new Japan security pact threat to peace
Australia’s new defence agreement with Japan has provoked a backlash in China.
Qantas pushing for a Sydney Airport super terminal
Alan Joyce on Qantas’ near-death experience and plans for a combined domestic, international terminal; body of a woman, 28, found in floodwaters; Bruce Lehrmann trial jury yet to reach a verdict. Follow updates live.
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World
Kremlin warns of ‘uncontrolled escalation’ of war
Russia’s defence minister accused Ukraine of wanting to use a “dirty bomb” of radioactive material, a claim the West rejected as a pretext for escalation.
China’s economy shows mixed recovery in Xi’s big challenge
China’s economy rebounded in the third quarter, but markets tumbled after Xi Jinping unveiled his new leadership team.
- Analysis
- World politics
Britain’s next PM faces enormous economic challenges
Front-runner Rishi Sunak will be caught between an unruly and fractious party on one side and markets expecting discipline on the other if he succeeds in becoming leader.
US strong enough to avoid recession, says Biden adviser
The White House is sticking to its view that the US economy will experience a “soft landing”, with a shift to slower growth rather than a deep contraction, and a cooling of jobs growth.
- Analysis
- China relations
Wary of Xi’s ambitions, Asia tries to strike a balance
South-East Asia is bracing for a more assertive China in the region after Xi Jinping secured a third term as leader.
Property
‘When you get an email like that, you don’t believe it’
Investors are coming back to the CBD market after a long dry spell. It’s a shock for agents – and first home buyers.
Panthers bring five-star Pullman hotel to Penrith
The 153-room five-star hotel is being built alongside a new 1000-person convention centre, both of which are due to open in the final quarter of 2023.
US investor looks to plug Melbourne’s record-low rental shortage
Greystar has acquired two new sites in Kensington and Fitzroy, boosting its build-to-rent (BTR) pipeline in the city to 2000 units across four projects.
Auctions beat reserve as buyers make a comeback
Auction clearance rate lifted above the 60 per cent mark for the third consecutive week across the capital cities, despite the wet weather and higher volumes.
Commercial property could fall 10pc: Credit Suisse
The disconnect in value between real estate held in public markets and commercial property in the direct market has fuelled concerns that a correction is coming.
Wealth
This new Young Rich Lister is turning big-name films into video games
Gerry Sakkas, co-founder of ASX-listed video game developer PlaySide Studios, makes his debut among Australia’s wealthiest people aged 40 and under.
- Exclusive
- Mergers & acquisitions
Why this $230b PE firm sees ‘incredible’ opportunity in Aussie wealth
Merchant Investment Management has set up shop in Australia, pledging to provide much-needed capital to independent financial advice firms.
- Opinion
- Chanticleer
Is there a hidden risk in your super fund?
Unlisted assets are helping hold up superannuation returns. But one expert says they can be more risky than they are made out to be in times of stress.
Technology
Privacy fallout from Medibank hack ‘will be widespread’
The company’s failure to protect the sensitive data of its customers will undermine trust in the whole health system, privacy experts warn.
- Exclusive
- Fintech
Tech start-up founders flock to new funding source
Fundabl says it is getting huge uptake from start-up founders looking to buy themselves time between equity funding rounds.
Can bitcoin-style decentralisation help prevent data breaches?
A Sydney-based start-up says the Optus and Medibank breaches have reinforced the urgency to rethink cybersecurity and remove the vulnerabilities of human fallibility.
Work & Careers
Judges’ associates ‘uniquely at risk’ of sexual harassment
Associates told a review they would “welcome the presence of some more mature, experienced and permanent peers”.
Ken Cowley, the ‘media giant’ behind Rupert Murdoch
Ken Cowley, the CEO at News Limited for 27 years, died on Sunday. He was 87.
Life & Luxury
Why neither road nor track running is enough for this exec
Integrated Portfolio Solutions co-founder Darryl Johnson has a thing for mountains and the bush – and for ultra-long distances.
Polestar goes upmarket with an SUV that’s channelling Porsche
It’s about the same size as the Cayenne, and is a pure EV. Meet the Polestar 3, which will land in Australia in early 2024.
Australians say they would choose streaming TV over eating out
Consumers would rather cut back on restaurants, smoking, drinking and even groceries instead of cancelling their digital media subscriptions, says Deloitte.
No wine, no smokes, no gluten – how Andrea Bocelli prepares to tour
On the eve of his Australian tour with a 130-piece band, the singer talks about stage fright and making a Christmas album with his kids.
Rinehart’s Hancock Prospecting pulls $15m sponsorship
Billionaire Gina Rinehart’s mining company Hancock Prospecting has pulled the plug on its controversial sponsorship of Netball Australia in the latest twist to the ongoing saga.
