The search is on for Australia’s most sustainable companies.
‘World at crossroads’ as Xi and Biden meet at G20
US President Joe Biden told media he sees no need for a new ‘Cold War’ after a three-hour plus meeting with Xi Jinping.
ASX to open flat, US stocks mixed to start week
Australian shares are poised to edge lower; Wall Street mixed. Brainard sees rate step down. $A steady. Bitcoin little changed.
Crypto contagion spreads after FTX collapse
Investors have started pulling funds from Singapore-based Crypto.com, after it emerged that its management team may have mishandled $US400 million of customer funds.
Out of the deep freeze: Xi agrees to meet Albanese
The PM will push China to lift its trade bans on Australia and lean on Russia to exit Ukraine in the first meeting between the two nations’ leaders in six years.
- Opinion
- Chanticleer
‘Best opportunity to invest in a long time’, says $4 trillion giant
While 2022 has been carnage for bond investors, Capital Group’s head of fixed interest, Mike Gitlin, says 2023 will be very different.
‘Useless’: Medibank customers rage as more health records revealed
Another 500 Medibank health records have been posted online, this time related to mental health and other illnesses, as more customers express anger at the insurer’s handling of the crisis.
- Opinion
- Big four
NAB’s worrying message for Chalmers
NAB has been the first of the major banks to recognise that some firms – particularly big-energy users in the manufacturing and transport sectors – will struggle to cope with soaring energy prices.
How BHP and the shipping industry rediscovered the power of wind
Companies
- Exclusive
- Cryptocurrencies
Crypto evangelist Mark Carnegie caught in FTX collapse
The private crypto investor lost $150,000 and a bet that requires him to run naked through Adelaide’s Rundle Mall. He says crypto will have to change just as fundamentally as the junk bond market after the 1990 collapse of Drexel Burnham Lambert.
- Opinion
- Chanticleer
ACCC suffers decision paralysis
Merger authorisations are meant to take 90 days, but Telstra’s deal to allow TPG Telecom to share its network in regional Australia is taking the ACCC seven months.
At least 30,000 Australians trying to claw back FTX losses
FTX Australia administrators are working to secure the assets of 30,000 Australian investors exposed to the dramatic collapse of global crypto trading platform FTX last week.
- Exclusive
- Funding
Logistics tech start-up raises $60m in just weeks
Ofload has closed one of the largest local capital raises since the tech correction, banking $60 million in a round led by one of Singapore’s largest funds.
Government accounting standards boards ‘captured’ by big four
The latest appointments to the government-backed boards all come from Deloitte, EY, KPMG and PwC’s senior partner ranks, sparking concerns of conflict of interest.
Westpac says bank debt back in fashion
Westpac’s boss of institutional banking, Anthony Miller, says the top end of town is cautious on locking in expensive debt, turning to shorter term bank loans to get them through.
FTX collapse puts US auditors in the spotlight
The collapse of FTX has thrown a spotlight on two US accounting firms that the cryptocurrency exchange said it used to audit its books.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Interest rates
Central banks get a breather but can’t afford to rest
Central banks should never underestimate the fragility of the financial system, argues Mohamed El-Erian.
Optimism builds as China relaxes virus controls, plans property rescue
Materials stocks are riding high as China’s policy shifts bring hope of reopening and recovery in the world’s second-largest economy,
Iron ore producers storm back in flat market
The S&P/ASX 200 Index fell 0.2 per cent to 7146.3 points. Fortescue Metals Group rose 10 per cent to $19.55 and Elders plunged 22.9 per cent to $10.21.
- Analysis
- Cryptocurrencies
Singapore turns off crypto ads, backs stablecoins
The famously tough regulator explains why it banned crypto advertising in public venues but stayed bullish on stablecoins as the future of e-money.
ASX falls 0.2pc, closes at session lows
The S&P/ASX 200 erased its early gains; Deutsche Bank forecasts Australian recession in 2023; oil extends gain on China demand optimism; US futures fall. Follow updates here.
Opinion
FTX: from cover boy to wanted poster?
The story here might be about old-fashioned financial fraud rather than any inherent unravelling of the underlying technology.
Editorial
Why Anthony Albanese’s affordable housing plan doesn’t add up
The headline of 1 million new homes over five years sounds good. But the detail of how to encourage a far more modest goal of 40,000 social and affordable homes is missing.
Columnist
Inflation fight needs fiscal policy
It would be easier to believe in the RBA’s hopes for a soft landing if governments were stepping up to correct their overspending.
Economist
Republicans need a growth strategy, not Donald Trump
The party must keep its Trump-era focus on the working class. But it must offer them the means to real economic improvement not populist false hope.
Contributor
Can we move beyond the gender equality blame game?
Issues among the sexes must be seen as complementary to each other, not a zero sum game.
Columnist
Albanese’s journey on the US alliance and globalisation
On the US alliance, Anthony Albanese has changed his youthful views. On globalisation, perhaps not so much.
Editorial
Politics
China, Russia threatening to derail G20 communiqué
Russia’s invasion of Ukraine threatens to derail any meaningful consensus emanating from this week’s Group of 20 leaders’ summit in Bali, Indonesia.
Energy tax is not a priority, Chalmers says
Treasurer Jim Chalmers says meetings with foreign peers about the global energy shock have reinforced the need to intervene to reduce power prices, but a tax is not his preference.
Super funds accused of gaming annual performance test
Industry Super Australia says dud funds are reallocating their investments into lower-return asset classes to try to game the assessment.
Victorian energy minister and Coalition trade barbs over gas
Lily D’Ambrosio has dismissed the Coalition as “fakes, liars and frackers”, saying its plan to turbocharge gas production is impossible.
Why a wave of start-up founders got behind the teals
Culture Amp and Heaps Normal were among start-ups to make first-time political donations this year, backing a movement that has reshaped federal politics.
SPONSORED
World
China, Russia threatening to derail G20 communiqué
Russia’s invasion of Ukraine threatens to derail any meaningful consensus emanating from this week’s Group of 20 leaders’ summit in Bali, Indonesia.
Asia holds its breath ahead of Xi, Biden meeting
The US might have to blink first to address the complete lack of communication between the world’s most powerful militaries, analysts say.
Relief for China’s property sector as restrictions ease
China’s relaxed COVID-19 quarantine rules and a rescue package for the property sector have raised hopes that Xi Jinping’s new leadership team is focused on economic growth.
Regulators will struggle to supervise crypto groups, warns ECB
The European Central Bank’s head of financial supervision said crypto asset providers pose “a huge consumer protection issue”.
These eight seats will determine who controls the US lower house
With Democrats retaining control of the Senate, the races in eight crucial lower house seats will determine the fate of Joe Biden’s agenda.
Property
Commercial work picks up as home building retreats
The latest six-monthly forecasts from Australia’s peak construction forecaster show a ‘surprising resilience’ from two sectors emerging from the pandemic.
Singapore’s Frasers Property steers through choppy times
Riding high in Frasers’ commercial pipeline is the $3 billion Central Place Sydney project it is developing with Dexus.
Seachanger quits ‘boring’ Noosa, goes back to Melbourne
Southern staters have long migrated north to Queensland and the pandemic increased that. But not all stay – and leaving can be profitable.
Rising borrowing costs choke up apartment pipeline
Rising borrowing costs are also now affecting build-to-rent developers as well as for-sale apartment developers, a new report shows.
One-quarter of Sydney home sales pulled from auction
Prices are back to 2019 levels and agents say a 60 per cent clearance rate is the sign of a normal market - but there is rising uncertainty.
Wealth
Lodging your tax return late is about to cost you more
Taxpayers lodging their annual return and business activity statements late are about to face tougher fines, with a 35 per cent increase locked in by mid-2023.
- Opinion
- Property investment
Why the California bungalow is now the hottest piece of real estate
Architecture from the 1970s and 1980s is catching up in popularity thanks to shortages of the most sought-after properties.
- Opinion
- Aged care
What happens to the family home when you move into aged care
Your abode is likely to be your largest asset, so it is important to understand how it affects the financial side of moving into residential aged care.
Technology
At least 30,000 Australians trying to claw back FTX losses
FTX Australia administrators are working to secure the assets of 30,000 Australian investors exposed to the dramatic collapse of global crypto trading platform FTX last week.
MilkRun is last man standing as fast delivery company Voly disappears
The 20-minute delivery dream faces an existential problem as investors sour on cash-burning businesses.
- Explainer
- Media & marketing
Why did Elon Musk (really) buy Twitter?
Elon Musk, the renegade entrepreneur who acquired Twitter for $US44 billion last month, has admitted the social media platform could die. How did Twitter end up in such a mess, and does Musk actually have a plan to save it?
Work & Careers
Expert lends support to crossbench push to split IR bill
A prominent industrial relations expert says the government should withdraw its most contentious multi-employer bargaining law and rework it.
- Opinion
- Chanticleer
‘Irreversible’: David Thodey’s work from home warning
The Xero and Tyro chairman says business leaders hoping for a full return to the office need to accept a more permanent shift to working from home is here.
Life & Luxury
Exactly what to wear to your office Christmas party
The annual work bash can be a minefield where manners are concerned. Luckily, your outfit is easily arranged.
Hunting for black truffles inan underground universe
There’s nothing more luxurious than staying at a trufflerie with your own chef, while connecting with the people who grew your food and made your wine.
This CEO rides to work in Sydney – but his eye is on the Himalayas
We Are Unity boss Ben Bars is looking forward to cruising on some of the highest roads in the world.
Opera Australia takes a stab at a new ending for Carmen
Opera on the Harbour will move to Cockatoo Island in 2023. As for the heroine’s fate, the director has no intention of “reinforcing bad thinking”.
‘So expensive’: Business trims the long lunch as costs soar
Melbourne investment banker and self-confessed expert long luncher David Williams has a novel way of gauging inflation and the cost of living.
