You've probably never heard of the event that attracts more high-rollers than any other.
Today's News & Views
Stephen Crafti 12:15am The Sunday apartments in Coventry Street Southbank, focus on the pleasures of relaxing on a weekend.
Marc Pallisco 12:15am A listed Singaporean developer is making its first foray into the Australian property market.
PETER KER 12:15am By shedding BHP's weakest assets in a single manouevre, Andrew Mackenzie is on the cusp of achieving one of the major ambitions of his reign.
PETER KER 12:15am If he can get it right, Graham Kerr will be uniquely positioned for a shot at the top job in world mining when BHP goes looking for its next chief executive.
Anne Davies 12:15am For media companies, leaks are an important part of journalism.
HAROLD MITCHELL 12:15am Two of my great passions in life are music and national unity. And there are great moments when they come together.
Tim Binsted 12:15am Sims Metal boss Galdino Claro said his turnaround plan to quadruple earnings to $300 million is gathering steam as the metal recycler resumed dividend payments despite hopelessly missing analyst earnings expectations.
MALCOLM MAIDEN 12:15am The Australian financial planning industry may have crossed a Rubicon this week with AMP, NAB, Westpac and Macquarie indicating that they are moving to impose much tougher education standards on financial advisers.
MICHAEL WEST 12:15am Contrary to conventional economic theory since the time of Thales, who cornered the market for olive presses in western Anatolia in the sixth century BC, another Australian government is poised to transform a competitive market into a monopoly.
SAFFRON HOWDEN 7:36pm The chairman of Australia's main print media watchdog will no longer be involved in adjudicating any complaints against publications belonging to the nation's biggest print media company, News Corp.
CHRISTOPHER WEBB 10:18pm Trades picked up this week thanks to a collection of directors venturing into the market following the release of their companies' earnings reports.
Angela Macdonald-Smith 5:24pm A large gas discovery by Santos and its partners off the north-west coast has prompted chief executive David Knox to started talking about the potential for “multiple” liquefied natural gas trains to be added in Darwin fed by gas in the Browse Basin and the Timor Sea.
Unni Krishnan 10:36pm Narendra Modi must balance his need to keep nationalists onside with pressures from pro-business supporters to spur investment and revive growth.
SALLY ROSE 5:39pm August company reporting season has provided enough good news to drive Australian shares up over seven consecutive sessions to a fresh six-year high.
Su-Lin Tan 5:24pm Record low interest rates will continue to drive Australians into the equities market in search for yield and heighten the demands for share investments this new financial year, according to wealth management group IOOF Holdings.
Mark Mulligan 10:44pm Equity investors had billions of reasons to be happy this week as this reporting season's dividend and share buyback deluge continued unabated.
BRIAN ROBINS 4:53pm Optimism that the mineral sands market may be through the worst of its prolonged downturn helped to push Iluka’s shares higher Friday.
Chris Jenkins 6:55pm Seven West Media director David Leckie has resigned his post but will stay on as a consultant to billionaire Kerry Stokes' conglomerate.
4:11pm Citigroup earned less from running a bank in Japan than its global chief executive officer's salary last year, helping explain why the U.S. lender is considering selling the consumer business as Abenomics crushes loan returns.
Misa Han 4:11pm Gold plunged to its lowest price in two months after the US Federal Reserve’s minutes sparked fear of an earlier-than-thought interest rate rise in the US.
Tim Binsted 4:16pm Bega Cheese chairman Barry Irvin said growing milk supply will be critical to exploit Asia’s booming demand for dairy products as he unveiled a 160 per cent surge in full-year profit to $66 million.
5:34pm Streetwear and skateboarding company Globe has cut the value of its trademark, in part because of the challening retail environment.
Paul Purcell 3:52pm Australian dairy continues to sell in Asia, as cheese producer Bega earmarks the orient for future expansion.
Michael Corkery and Matt Apuzzo 3:12pm Bank of America and the US Justice Department have a reached a record $16.65 billion settlement, capping the most sweeping federal investigation into the sale of toxic mortgages by a Wall Street bank since the 2008 financial crisis.
2:58pm Former Phosphagenics chief executive Dr Esra Ogru has pleaded guilty to her role in defrauding the company of $6.1 million.
2:29pm Iron ore dropped below $US92 a tonne to its lowest since June and is poised to stretch its losses to a second straight week.
GEORGIA WILKINS 3:10pm Esra Ogru, the former chief executive of biotech group Phosphagenics, has pleaded guilty to defrauding the company millions of dollars over a nine year period.
12:47pm SeaLink Travel expects growth in the year ahead due to new charter and ferry contracts and improving tourism.
David Ramli 4:53pm Telstra chief executive David Thodey says call centre jobs across a range of sectors will not exist in five years thanks to the internet and smartphone applications.
Elizabeth Harris 12:30pm US department store stalwart Sears Holdings announced Thursday that it had lost nearly $US1 billion in the first six months of the year.
12:38pm Mary Barra made corporate history seven months ago when she became the first female chief executive officer of a major global carmaker.
Kim Christian 3:40pm Property price falls in China could be good news for mineral sands miner Iluka Resources' after first half net profit fell 66% to $11.7 million
10:07am What's on in the world of business this week.
Greg Roberts 5:20pm Santos has suffered a 24 per cent slide in its first half profit but has lifted its dividend to shareholders.
Trevor Chappell 5:13pm Loss making recycler Sims Metals expects its five year turnaround program to generate substantial benefits from the current financial year.
10:12am Kathmandu has signalled plans for a new $20m head office in Christchurch, the city where it began.
Suze Metherell 10:12am The Reserve Bank has shaved $30 million off the minimum amount of money insurer Tower needs to have at its disposal.
8:45am Gold slid 1.3 per cent to its lowest in two months on Thursday, extending losses to a fifth consecutive session, as fears about an early interest rate hike by the US Federal Reserve sparked a technical selloff after prices broke below a key support level.
Gretchen Friemann 8:49am Nathan Tinkler's pursuit of a $150 million coal mine in Queensland may have taken another turn for the worse but the fallen tycoon refuses to raise the white flag, even after the seizure of his thoroughbred racing empire, Patinack Farm.
ROSE POWELL 4:04pm Accounting software and stock market darling Xero has revealed its latest growth rate. But not everyone is convinced.
8:08am Commodities news from around the world.
Sarah Thompson, James Chessell and Jake Mitchell 5:20pm Nine Entertainment Co and Fairfax Media are close to forming a $100 million video streaming service, signalling a closer relationship between the two companies and underscoring how subscription movies and television has become the new battleground in Australia media.
7:42am News from the world’s major stock markets
1:19pm Bank of America reached a record $US16.65 billion settlement with the US government to settle charges that it and companies it bought misled investors into buying troubled mortgage-backed securities, helping the bank close a major chapter tied to the financial crisis.
4:26pm Stocks of interest on the Australian Securities Exchange at the close on Friday.
Rebekah Ison 5:12pm The Australian share market has closed higher for the seventh session in a row, reflecting the positive reaction to recent coporate earnings.
Jeremy Herron and Oliver Renick 6:55am The Standard & Poor's 500 Index rose to a record, while oil advanced with bonds, amid optimism the Federal Reserve is committed to supporting a strengthening economy. Gold sank on speculation of higher interest rates.
5:12pm The Australian dollar has lifted ahead of the US Federal Reserve monetary policy meeting.
8:17am Clothing chain Gap Inc has topped Wall Street expectations with a second-quarter income of $US332 million.
Local shares are poised to edge higher at the open, bolstered by Wall Street which advanced on a slew of positive economic data and corporate news.
Freddie Mac says the US average for a 30-year mortgage fell to 4.10 per cent from 4.12 per cent last week.
Christopher S Rugaber US home sales in July rose 2.4 per cent to a seasonally adjusted annual rate of 5.15 million, the highest since last September.
Adele Ferguson, Ben Butler Australia's big four banks and AMP have moved to beef up educational standards for financial planners as they struggle to stem a crisis of confidence in the advice industry.
ADELE FERGUSON It is little surprise that the crisis in confidence gripping the financial planning industry and the intense scrutiny on vertical integration and low education levels has reached the boards of the country's biggest advice businesses.
The Sydney Morning Herald chief photographer Brendan Esposito's pictures of typhoon Haiyan in the Philippines have been recognised with a prestigious news award.
ALANA SCHETZER Leisure and sport giant Super Retail Group✓ will investigate sourcing products directly from factories overseas as it seeks ways to boost its flagging outdoor leisure division.
Jessica Gardner, Mathew Dunckley James Packer’s Crown Resorts has squeezed a 17-year extension on its Melbourne casino licence out of the Victorian state government as a peace offering in return for a hike in poker machine taxes announced last December.
SALLY ROSE Labour hire firm
Australian regulators won't block the purchase of a casino in Cairns by Hong Kong billionaire Tony Fung, boosting his ambitious push into a gaming market that could become a haven for big-spending Chinese gamblers.