Where to invest in a deeply divided world
The titans of commerce gathering in Davos this week are reckoning with a shift away from the era of close global ties.
- Opinion
- Chanticleer
Four reasons why the Virgin float will fly
The Virgin Australia initial public offering later this year appears to tick all the boxes for success, unless the private equity owners, Bain Capital, get greedy.
- Updated
- Aviation
Bain fires starter’s pistol for Virgin IPO
Bain Capital has fired the starter’s pistol on its plan to return Virgin Australia to the ASX, riding a “revenge travel” pandemic rebound that has pushed the share price of market leader Qantas 45 per cent higher in the past six months.
Small firms hit as gas prices increase despite caps
Small Australian manufacturers have months of elevated gas prices as the market waits.
Defiant Perrottet fires back after Carr attack
Premier says he will not be lectured to by Bob Carr and takes aim at the former Labor leader for allowing the number of poker machines in NSW to soar during his term.
Embrace NZ blueprint to unleash corporate bonds: ex-MP
Former Coalition MP Jason Falinski said Australia still lagged global peers, more than two years after a parliamentary review recommended reform.
Top global companies write down billions as deals make way for gloom
With higher costs owing to inflation and a weaker outlook for demand, many recently acquired businesses may struggle to justify their valuations.
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SUMMER REVIEW
Tired but wired? Time to switch off and reset
If you’re feeling weary it may not simply be a case of too little sleep, you could be ‘under rested’.
How the marijuana ‘green rush’ fell apart
Supply is now flooding the market in several US states, economists say, depressing prices and decimating already-thin margins.
- Opinion
- Jobs
5 tips to secure a promotion during a recession
Experts advise on the ways you can sharpen your chances of a better job this year.
- Opinion
- Science
Want to avoid death? Cryonics isn’t so crazy (and is getting cheaper)
Preserving your body in the hope of being revived in the far future is no longer a fringe pursuit just for billionaires.
He’s the bad boy of chess. But did he cheat?
On one side is the world’s top player whose winning position is essential to his business. On the other side is the upstart challenger accused of unfair play.
Companies
No deal yet as Brookfield’s exclusive run at Origin expires
The expiry of Brookfield and EIG’s exclusive due diligence period will raise concern about the $18.4 billion deal to buy Origin Energy.
Bumper bank earnings to flatline in 2024
Higher interest rates are propelling big banks, whose stocks are rising. But investors are bracing for rougher seas as funding challenges and competition intensifies.
Why shipping costs will stay down this year
One industry player thinks an “all out price war” is possible in container freight charges thanks in part to sluggish demand.
‘Great revenge’ spend is continuing: Super Retail Group boss
Punishment and praise: the market reactions to the profit results of Super Retail Group and Baby Bunting could not have been more starkly different.
- Exclusive
- China relations
Chinese importers say Australian lobster trade could be back soon
Some of China’s biggest seafood traders say they expect to resume imports of Australian lobster as early as May.
- Opinion
- Chanticleer
This profit upgrade shows animal spirits are back
Super Retail Group’s 20 per cent profit upgrade shows consumers are stepping up to buy products for their utes, camping trips, workouts and overseas skiing holidays.
Indie PR firm Sefiani acquired by Clarity Global
In one of the first media and communications deals of 2023, global communications firm Clarity Global has acquired local PR outfit Sefiani.
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Markets
The Fed’s economic plan is impossible, says top US economist
Rising credit card debt, higher rates, and a housing correction will tip the US economy into recession, says UBS’ chief US economist.
ASX firms 0.8pc as shares climb to a nine-month high
The S&P/ASX 200 Index rallied 0.8 per cent to 7388.2 points, the highest level since April 2022. Bigtincan surged 13.6 per cent to 58.5¢ and Ioneer 21 per cent to 55¢.
Top global companies write down billions as deals make way for gloom
With higher costs owing to inflation and a weaker outlook for demand, many recently acquired businesses may struggle to justify their valuations.
US companies turn to convertible bonds as equity fundraising stalls
The amount US-based companies raised more than doubled in the second half from the preceding six months, after a sharp earlier slowdown.
ASX rises 0.8pc; Ioneer soars 21pc; Baby Bunting dives
Tyro upgrades earnings guidance; Bigtincan on track to meet guidance; Super Retail, PolyNovo post record first-half sales. Follow updates here.
Opinion
Davos must lead the charge to reglobalisation
The Swiss gathering became a symbol of complacent globalisation. But as governments edge back towards damaging protectionism, it must make the case for sustainable reglobalisation.
Editorial
Liberals can’t win another climate war
If Peter Dutton takes the Coalition back to the Abbott era, then more of their seats will tumble to the teals next time.
Former Labor minister and economist
It’s the year Labor brought the conflict model back to workplaces
Even the pro-union Biden administration has not handed unions the powers over employers and workers that Australia’s labour movement has got from Labor.
Geopolitics threatens to destroy the world Davos made
Delegates at the World Economic Forum fear that the long period of peace and economic integration could be coming to a close.
Columnist
Folk wisdom suggests sharemarkets may lead a global rebound this year
An old adage says the US sharemarket will hold on to an early January rise for the rest of the year. Many indicators say that might be right in 2023.
Columnist
Unions may shrink, but their cost is still heavy
The decline in union numbers is accelerating. But the labour movement’s legal and institutional clout, and its ability to discourage government spending reform, is only getting stronger.
Editorial
Politics
ACCC to crack down on essential service prices amid living cost crisis
The watchdog’s chairwoman Gina Cass-Gottlieb says pricing for childcare, energy and telecommunications will be under particular scrutiny.
ATO disqualifies hundreds over self-managed super scams
Nearly 300 trustees of SMSFs have been disqualified for illegally accessing their retirement savings in the past six months as the ATO battles an uptick in such behaviour.
NSW Labor pledges to cut pokie numbers, expand cashless gambling
The NSW state election promises come as Matt Kean rules out challenging Perrottet for the Liberal leadership; ACCC to enforce ‘prompt’ gas price cap implementation; Dave Rennie has been sacked as Wallabies coach. How the day unfolded.
More job gains likely as 90pc of CEOs say they can’t find staff
Economists expect official data due this week will reveal another 22,500 Australians found work last month.
- Exclusive
- Foreign relations
Ex-Macquarie boss says China is not our only Asia option
Australian businesses will have to decide whether to swing back to China if Beijing reopens to exporters or continue to pursue market share in Southeast Asia, says Nicholas Moore.
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World
Rich Listers make $2500 a second as world’s wealthy descend on Davos
Analysis by charity Oxfam warns that the surging growth in billionaire wealth is unsustainable.
The Aussies who are (and who aren’t) going to Davos
Assistant Trade Minister Tim Ayres is joining Andrew Forrest, Ken Henry, Kevin Rudd and about 3000 other A-listers in the Swiss ski resort. But Anthony Albanese won’t be there.
Peru extends state of emergency as deadly protests roil the country
The 30-day order, which follows a now-expired nationwide state of emergency, suspends several constitutional rights, including freedom of transit and the right to privacy in the home.
Chinese head to home towns as holidays raise virus stakes
More than 2 billion trips across China are expected in the weeks around the holidays, the Transport Ministry has estimated.
- Opinion
- World politics
The Xi nobody saw coming
China’s strongman president has reversed his decisions on a wide range of policies, wrong footing the rest of the world. But his impulse to control may reassert itself when the economy starts to recover.
Property
Alternative real estate swells to $235b as tailwinds build
The diverse sector – it ranges from accommodation facilities, to healthcare properties, and data centres – can reap strong rental growth across its assets: a boon in inflationary times.
- Explainer
- Rural property
Billionaire cattle barons cash in on booming beef prices
Gina Rinehart and Brett Blundy offloading up to $1 billion worth of property, in a once in a generation change.
Thousands expected to apply for stamp duty refunds in NSW
The NSW government anticipates it will receive 2500 applications for stamp duty refunds, with 6000 expected annually.
- Exclusive
- Luxury property
Antony Catalano sells St Kilda West superpad for $16m
The sale by the former Domain boss reset the beachside suburb’s record, while Ron and Katie Dewhurst also offloaded their South Yarra home.
Malls in sight for Wing’s delivery drones
Drone operator Wing hopes to expand its partnerships with the owners of shopping centres, which make ideal sites for drone “nests”.
Wealth
ATO disqualifies hundreds over self-managed super scams
Nearly 300 trustees of SMSFs have been disqualified for illegally accessing their retirement savings in the past six months as the ATO battles an uptick in such behaviour.
Aussie traders rally around Tesla as shares tank
Superhero customers are shrugging off concerns that the electric vehicle pioneer missed sales expectations.
The 60/40 portfolio is back as investors eye stocks, bonds
A survey of 2000 Australian investors found 87 per cent of respondents intended to deploy more capital in a range of assets, despite economists warning of global recession.
Technology
- Opinion
- Disruption
Three ways big tech got it wrong
Racing for scale with buggy, money-losing products doesn’t work in most sectors.
Aussie VCs ready for the next tech boom: Generative AI
Generative artificial intelligence, which grabbed global attention with the launch of ChatGPT, is being heralded as the greatest technological shift since the invention of the smartphone.
Three law firms join forces for mega privacy case against Medibank
The merging a class action lawsuit with a complaint to Australian privacy watchdog could result in billions of dollars in payouts to Medibank customers.
Work & Careers
How to ask for a pay rise, without alienating your boss
Managers and workplace psychology experts offer their best tips on how to prepare for and face the conversation to get a pay rise this year.
K-pop is inspiration for this Freehills technology lawyer
From smart contracts to dancing, Herbert Smith Freehills lawyer Raymond Sun is testing the capacity of artificial intelligence.
Life & Luxury
Eddie Jones in, Dave Rennie out as Wallabies head coach
Rugby Australia has hired Eddie Jones to be the head coach of the Wallabies, as well as overseeing the women’s team, on a long-term deal until 2027.
Six young designers shaking up Australia
Look out for these young, uber-talented and highly original creatives: They are already putting their individual stamp on functional design.
For this pharma boss, fishing is an experience in positivity
He catches nothing ‘almost always’, but James Graham says that if you try, and keep on trying, the fish will be there somewhere.
The etiquette guru who broke up with a boyfriend over text
On ‘Mind Your Manners’, Netflix star Sara Jane Ho offers practical advice for a new, global world.
Tennis greats back cocky Kyrgios on the eve of the Australian Open
Australian tennis greats Ken Rosewall and Wally Masur believe Nick Kyrgios has what it takes to go all the way to the final of the Australian Open.
