Shopper spending to be down by a fifth at Christmas
Shoppers are expected to spend nearly 20 per cent less over the Christmas holiday season, and a Deloitte report says even Black Friday and Cyber Monday turnover is likely to be down.
Breaking News
Qantas, Virgin defend higher fares post-Rex
A 12 per cent jump in domestic airfares since Rex bowed out of major city routes has been attributed to ‘seasonal factors’ and flawed data collection.
Are you at risk of outliving your super?
Checking whether your superannuation balance is big enough should continue long after stopping work. Here’s what you need on based on your age, and why set-and-forget is dangerous.
Hospitality smashed as payment defaults soar
Business payments defaults are at a record high and credit reporting bureau CreditorWatch says a ‘perfect storm’ of conditions is on the way for the hospitality sector.
Phil King eyes bid for ‘long-suffering’ Platinum Asset
Regal Partners could become a $29bn powerhouse as it mulls a takeover bid for Platinum Asset Management amid plans by Phil King’s investment house to double down on its growth strategy with its biggest play yet.
Innovation, risks on agenda for Adairs’ new CEO
Former Country Road boss Elle Roseby says she will take risks and innovate at the home furnishings’ retailer, with people still wanting to make their homes beautiful despite cost of living pressures.
Cabot forges into local market with $137m Matraville buy
The transaction signals that global capital will pay up for local industrial assets.
The airline where staff are up for $42K pay rises
Virgin Australia staff can look forward to a hefty pay rise this year if they vote to approve a new work agreement.
AMP chair calls for ‘better balance’ in financial advice sector
Australia’s financial advice model requires less complexity, with those who need guidance and assistance probably being priced out of the market, AMP chairman Mike Hirst has warned.
Philippines’ deal shows Macquarie model in action
It’s not yet an AirTrunk, but Macquarie is looking to get on the ground floor with another digital infrastructure investment in Asia.
Apple offers noise cancellation for $100 less than Pro model
The tech titan has introduced active-noise cancellation in its entry level AirPods earphones, a technological breakthrough for an open-ear bud. So how does this new, cheaper model stack up?
Riviera sets sail for Florida with $20m luxury yacht fleet
Gold Coast luxury boat builder Riviera will be flying the Australian flag at the Fort Lauderdale International Boat Show next month with a $20m fleet of motor yachts.
Lenders push Adgemis out of Sydney pubs
Around 100 to 150 staff are affected by the decision, which leaves New York financiers in control of five pub venues.
Start-up seeks funds for sub-aqua cleaner that doubles as a spy
Meet the Aussie diver seeking $15m to scale the underwater cleaning drone business that’s proven to save ships fuel, can map reefs and double as a spy.
Qantas flight blows up section of Perth Airport runway
Perth Airport is investigating why a recently resurfaced part of its main runway appeared to disintegrate as a Qantas flight prepared for takeoff.
Corporates hit wall on female CEOs
The latest CEW survey finds that progress for women at the top has stalled with a fall in the number of female chief executives in the ASX300.
Super versus housing: why you really need to build both
Superannuation or housing wealth? Aussies shouldn’t have to choose, and these tips can help you get richer with each of them.
Centrex ramps up Indian exports
The burgeoning Centrex phosphate mine in Queensland’s North West Mineral Province is ramping up exports of the critical mineral needed to produce high-quality fertilisers.
Bad bank loans ‘to haunt home lenders’
A rising tide of bad home loans could trigger a sell-off in bank shares, Citi analysts have warned.
P&N Bank pulls pin on Beyond Bank tie-up
The proposed merger – expected to be led by former RAMS chief Jake Bromwich – is dead in the water.
Anglo risks getting caught in the four traps it set for BHP
BHP boss Mike Henry has publicly moved on from Anglo American but the London-listed former target remains even more vulnerable.
We got it wrong on Star, top shareholder admits
One of Star Entertainment Group’s biggest shareholders says it has been ‘burnt’ but says there is still time to rescue the troubled casino business.
Offshore wind developers turn attention west
A growing number of offshore wind developers are planning projects in WA as they look to capitalise on the need of the state’s heavy emitters to decarbonise.
MinRes declares Perth Basin one of WA’s largest gas resources
Drilling results have positioned Mineral Resources to capitalise with a part or full sale of the project, should WA change its domestic gas rules.
Gen Z hardship soars as financial woes bite
Young Australians are being hammered by an unaffordable housing market and widespread cost of living pressures as loan arrears surge in the past year.
ASIC puts super funds on notice over private asset push
The corporate regulator is warning of consequences for retirement giants that fail to disclose blow-ups in their unlisted and private assets, amid calls for more transparency around valuations.
MP blasts Gupta over sacking of GFG workers
Almost 40 staff have been sacked at GFG Alliance’s mining operations at Whyalla, with more losses to come.
Businesses bank on upgrading assets in defiance of gloom
Despite the ever-present economic gloom, new electric vehicles and hybrids are prominent among a wave of assets businesses have sought funding for, Commonwealth Bank says.
Anti-corruption commission drops Chester probe
The NACC says it has reviewed all ‘available’ messages between former ASIC deputy chair Karen Chester and Bronte Capital boss John Hempton.
Mike Sneesby stands down as Nine CEO after ‘challenging’ year
Embattled Nine Entertainment chief executive Mike Sneesby will leave the broadcaster and newspaper group within weeks as it moves into the next phase of its transformation.
JPMorgan warns of sharemarket correction
The worst month for equity fund flows since the end of 2022 ‘portrays a picture of fragility rather than resilience’ in terms of retail investors’ impulse into equities, JPMorgan warns.
Turkish Airlines’ non-stop flight plan unveiled
Turkish Airlines is upping the ante on Qantas with plans to become the first carrier to fly non-stop between Sydney and Europe.
Dan Murphy’s, BWS owner inks new supplier charter, data deal
Endeavour Group has inked a new supplier charter with its liquor suppliers and will offer greater sales data to help them plan and pitch their products.
IGO says lithium to be a wild ride as China cuts bolster shares
The miner says 80 new lithium projects need to be funded to meet the tripling in demand over the next decade, as the sector surges on Chinese production cuts.
Why technology company share prices and valuations are ‘crazy’
An 8 per cent, $324bn overnight share price rise by AI chip giant Nvidia helps explain why some experts worry about tech stocks.
Bali bigger than ever for Aussies on hunt for value travel
The cost of living crisis is not keeping Australians at home, but it is dictating where we travel.
Possible $280m shortfall in fund value, Keystone probe reveals
What happened to millions of dollars in super investments which flowed to a web of companies linked with Melbourne property developer Paul Chiodo? An ASIC probe reveals the money trail.
Cut price: QIC’s shopping centre fund take a hit
QIC’s multi-billion dollar real estate portfolio that includes Logan Hyperdome and Robina Town Centre continues to take a hit amid a tough property market.
MinRes cost cuts put stock into orbit
Chris Ellison’s Mineral Resources is cutting costs worth $300m in a move that has pleased investors and sent the stock price soaring.
Still no deal on Star’s rescue plan
Troubled Star Entertainment Group has signalled it’s no closer to finalising a $300m rescue plan and remains in lock down talks with lenders, governments and regulators.
ASX chair departs amid investor heat
Investors say the beleaguered ASX board still has work to do to boost its expertise and ensure accountability for a bungled technology upgrade, despite the changeover of chairman.
Be ready and don’t be late, judge tells Star ex-directors’ trial
Former Star Entertainment directors being sued over claims they failed to halt money laundering risks and criminal links are on track to be tried by ASIC in February.
Eraring the perfect example of energy transition
Eraring was to close next year but will continue to produce power until at least 2027. Meanwhile Origin is spending $80m on a refit, while simultaneously building one of Australia’s largest batteries.
Solar surge allows Origin to wind back Eraring output
Origin has approval to run its Eraring power station at a lower minimum level when there’s little need, increasing the profitability of the facility which is under financial pressure from renewables.
Nine puts a date on release of bullying report
The trouble-plagued media company will soon hand down the external review into the organisation’s workplace culture, amid claims of sexual harassment and widespread bullying.
Coles pilfering shoppers from its big rival, Citi data shows
It’s the big shoplift – Coles is swiping market share from Woolworths and its smaller rivals, according to a new Citi shopper survey.
ASX’s board lacks ambition needed for rebuild
As the reputational hits keep coming, the market operator’s board has made a timid choice to help win back trust of regulators.
Super funds target private debt for high returns
Arrowpoint Capital says the private debt market has never been more popular with super funds as it launches a new product, but it will avoid retail and hospitality firms.
Super funds face volatile outlook amid market turbulence
The average superannuation balance eked out a small gain in August following a $100bn wipeout on the ASX.
Meriton nation’s No.1 hotel owner
Multibillionaire Harry Triguboff has emerged as Australia’s number-one hotel owner followed by Melbourne’s Salter Brothers.
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