When $24bn is a bargain buy
Sydney Airport is its own very special form of waterfront property and it looks like it will be sold for the bargain price of $24bn.
Sydney Airport is its own very special form of waterfront property and it looks like it will be sold for the bargain price of $24bn.
Ironically, the Myer of 2022 might actually give Lew more confidence that spending up to seize control of the retailer could deliver a reward.
If the Federal Reserve was doing its job, the US and Australian stockmarkets would be around half the level they are today. The bubble is inevitably going to burst.
As Boris Johnson was in Glasgow demanding we all abandon fossil fuels, a cloudy Britain was forced to rely on some coal-fired power generation just to keep the lights on.
Don’t expect a rate hike until wages start rising by more than 3 per cent across the economy and according to RBA forecasts that is not going to happen any time soon.
Westpac’s expenses jumped a thumping $1.3bn or 22 per cent from the March half to the September half and investors didn’t like it.
This week Reserve Bank Governor Philip Lowe is going to somewhat uncomfortably announce that the Covid economic crisis has now ended.
Everyone had to take a Covid haircut but not the ANZ and its executives – they’ve all had a very good pandemic, thanks to their monopoly power.
The RBA has to shift big and shift fast to recognise that the rising inflation roiling around world, including in our nearest neighbour New Zealand, is also building here.
The days of ultra cheap home loans are well and truly over, as the banks and regulators are getting in ahead of it.
There are some rather delicious ironies in Ziggy Switkowski being charged with saving James Packer’s billions by overseeing reforms at Crown.
The refusal by Australia’s political class to aggressively embrace nuclear power has become an exercise of criminally irresponsible suicide-on-steroids.
The Crown Resorts AGM showed that the ‘two strikes’ remuneration report process is utterly pointless.
There’s been precious little to zero discussions about immigration numbers since the start of Covid and we must demand the tap doesn’t get turned back on until there is.
The PM must make an aggressive bi-partisan commitment to nuclear power in Australia before he goes to Glasgow promising an ‘utterly stupid’ net zero emissions target.
Victorian Premier Dan Andrews is copying NSW’s roadmap out of Covid and the timing couldn’t be better. It locks in a very strong November-December for the economy.
Inflation in America is far more relevant to our financial future than Australian jobs figures but unfortunately policy in the US is in the hands of blithering idiots.
GDP is estimated to have shrunk by at least 3 per cent in the September quarter, increasing the already embarrassingly large gap between the Australian and New Zealand economies.
The Treasurer should resign and the Treasury secretary be sacked after Australia wasted $30bn on its JobKeeper scheme which it ineptly stole from New Zealand.
The launch of Fox News 25 years ago was the culmination of an extraordinary decade of success, innovation and breathtaking entrepreneurial risk-taking by Rupert Murdoch.
Australians are being given a ringside seat to the international hunt for fossil fuels to keep the lights on.
The ‘opening up’ of the NSW and Victorian economies are going to be like night and day, with only one of the states set to return to its mid-year pre-lockdown status and relative health.
APRA’s move to take some heat out of the property market can be “very slightly” applauded but the regulator could be jumping at shadows.
How could PM Scott Morrison even contemplate attending the Glasgow climate change summit when he may be needed to lead the response to a developing Covid crisis in Victoria.
If people want energy, the only real supply sources are fossil fuels and nuclear. All the rest are and always will be hot air.
All states are now likely to copy Victoria’s “Covid safe” template and move to a hard lockdown at the first signs of new infections in the community.
Before our eyes we have a real-time case study of whether we can go back to a normal pre-2020 life with the virus and the vaccine.
If the increasingly hysterical NSW government got its way the prime minister for Sydney would have to introduce a permanent JobKeeper.
Seven Group executive chairman Kerry Stokes has secured control of the $3.5bn cash sitting in building products group Boral’s vaults.
The NSW lockdown is clearly going to be seriously punishing – and not just for that state but right across the country.
The Covid-19 pandemic period has been very good to BHP but a shocker for Crown and on Tuesday it got seriously worse and more complicated for the casino group.
Britain has framed some absolutely core Covid questions for us. Are we prepared to ever face a Covid vaccinated future? Or are case-sparked lockdowns to be our never-ending story?
With the two biggest cities in a freeze, the rest of the year is shaping up as a replay of 2020 – but with one huge difference.
Buckets of free money, no migrant workers and dodgy statistics helped Australia record its lowest unemployment rate in 10 years last month.
The extra cash for locked-down Sydney that wasn’t forthcoming for Victoria makes basic sense but let’s be crystal clear what’s driving it – the seats in the city’s west crucial to the next election.
Victoria’s latest lockdown saw zero, zip, nada directly from Canberra. And if it had been extended, they certainly never gave the slightest indication help was on its way.
Churchill was a piker in comparison with our boy wonder. Former PM Kevin Rudd is saving the nation from utter catastrophe for a second time.
NSW is beginning to look all-too ominously like 2021’s Victoria version 2.0, but for one important difference.
Crown Resorts chair Helen Coonan’s evidence to the Victorian Royal Commission was devastating – to herself. Simply, she has to go right now.
The first crack in Australia’s health dictatorship was a month ago when South Australia’s CHO Prof Nicola Spurrier warned ‘not to touch the football’.
The RBA board has made a series of decisions aimed at maintaining the ‘free money’ – for the banks – underwriting economic activity and the booming property market.
Two of Australia’s biggest companies face vastly different futures. Tabcorp has kept its suitors at bay by unveiling its own demerger plans while Boral has lost its independence.
Between Covid, the Australian economy and global markets, the next few days will prove pivotal.
Kerry Stokes’ Seven Group has bought the right to control Boral’s decisions – including what the building products group does with $3.6bn in excess capital.
The lockdown in NSW is serious and seriously disturbing. There are signs Premier Berejiklian is, for the first time, channelling her ‘inner Annastacia’.
Treasurers always tell you the deficit will fall in the future, but tomorrow never seems to come.
Is Seven Group really that unimpressed with Boral’s just-announced asset sale?
Will the US central bank be too slow to face up to reality, allowing an even bigger bubble to build and so cause an even bigger bust?
The signs are already there that higher interest rates are going to come sooner than expected.
It’s a talkfest for sure, but the prime minister’s invitation to this particular one is a big deal.
Original URL: https://www.dailytelegraph.com.au/business/terry-mccrann/page/11