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Business

Today's News & Views

How much more bull can world markets bear?

Matthew Kidman It is virtually impossible to find an expert who believes equity markets are a risky place to invest.

Buyers say it is time for auction action

12 Grandview Grove.

Nicole Lindsay Melbourne turned in a strong auction clearance rate of 73 per cent on the weekend.

CBD

Budget deadline a sticky business

CBD with Ben Butler.

BEN BUTLER Wayne Swan faced an unusual problem releasing his budget - having enough time for the glue holding the pages together to set.

Resources

Fortescue told to re-price Pilbara rail

Queensland Rail.

PETER KER Andrew Forrest's Fortescue Metals Group has been told to change the way it charges for access to its Pilbara railway, as regulators grapple with Brockman Mining.

Resources

US shale gas may become export rival to Australia

Freeport LNG facility in Quintana.

PETER KER Fears that the US could become a rival are firming as the Obama approves more LNG exports.

Cosmetics

Cosmetics case reaches testing time

MAC cosmetics.

Gareth Hutchens The case involving allegedly fake MAC products being sold in Target stores has hit a snag.

It takes no brains to kick Treasury

ross-gittins-dinkus

ROSS GITTINS When it comes to forecasting the economy the econocrats are on a hiding to nothing.

Monopoly delivered on a platter

Michael West

MICHAEL WEST To quote historian Niall Ferguson, they should ensure the survival of the fittest, not the fattest.

Litigation

Morgan Stanley sued over $5m super losses

Morgan Stanley's world headquarters.

Chris Vedelago Morgan Stanley is being sued after losing $5 million with a series of 'aggressive' trades.

Aviation

Qantas pilots want terms Virgin offers

Generic qantas aircraft.

MATT O'SULLIVAN Qantas short-haul pilots will hold meetings across the country this week.

Aviation

Tiger Australia cuts its losses

Tiger Airways jet.

Matt O'Sullivan Tiger Australia has continued to narrow its losses due to stronger returns from fares.

Property

Auction clearance level best in three years

Nicole Lindsay Sydney's property market had a boom-time auction clearance rate of 79 per cent at the weekend as buyers shrugged off any concerns about the economy, employment or the election.

Security

Keyboard wars: US turns to rookies as cyber threats worsen

Code

Demand for internet security experts is dramatically overwhelming supply, write Sandrine Rastello and Jeanna Smialek.

Comments

Economy wide spending up in April

2:39am Spending rose for the eighth consecutive month in April, according to the Commonwealth Bank's Business Sales Indicator

Westpac drops fixed rate

5:20pm Westpac has lowered its one year fixed home loan rate to 4.79 per cent

Home loan wars heat up as Westpac cuts

Generic house and money.

GLENDA KWEK 11:05pm Westpac fires the latest salvo in the fixed-rate home loan wars as lenders battle for new borrowers following the RBA's cash rate cut.

Aust market tipped to open higher

Kylie Williams 1:09pm The Australian market is expected to open higher this week after strong leads from Wall Street.

Precious metals

Dismal week for gold

Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as the US dollar rose to the highest since 2008.

Airlines

Operational costs weigh on Tiger

Discount carrier Tiger Airways reported a quarterly operating loss of $S15.1 million ($12.4 million) because of higher operational costs.

European stocks rebound on bargain hunting

Euro logo.

Europe’s main stock markets have rebounded, with Frankfurt hitting arecord and Paris jumping above 4000 points for the first time since July 2011 as traders went bargain-hunting.

Oil rallies as US consumer sentiment rises

World oil prices have risen for the third day in a row after a better-than-expected reading on US consumer confidence boosted hopes for stronger energy demand.

Wall St

Records tumble as US stocks soar

wall street

US stocks continued their climb into uncharted territory, racking up the fourth week of gains in a row.

Tax

'Meeting of the minds' spares Tinkler

Former Australian billionaire Nathan Tinkler.

GARETH HUTCHENS The embattled coal baron Nathan Tinkler has reached an in-principle settlement with the Australian Tax Office over debts owed by several of his companies.

IVF

Expecting soon - Virtus waiting on IPO

Stem cell research.

Madeleine Heffernan It's an industry that mixes science, hope and big bucks. And now it's heading to the sharemarket, breaking a drought in big initial public offerings and lining the pockets of its private equity and medical owners.

Retailers raise fashion stakes with exclusive designer collaborations

CEO of J BRAND, Jeff Rudes and models Elsa Cocquerel in the shorts and Jordan Murray wearing pants. Pictured in 'Come As You Are' boutique, paddington, Sydney. 17th May 2013. Photo by Tamara Dean
Sent from my iPhone

A22T2353.JPG

PAULA JOYE It's the age of fashion democracy: luxury design at affordable prices. Ten years after Chanel's Karl Lagerfeld produced a collection for Swedish mass retailer H&M, high-end designer collaborations are no longer a trend but essential weapons in the fast fashion war.

Break-up could breathe new life into News

COLIN KRUGER Analysts say the split into two divisions may lead to a re-rating of the embattled publishing business, writes Colin Kruger.

World war spree is declared

Michael West dinkus

MICHAEL WEST Here we are sitting pretty at the tail end of the biggest boom in history. What with interest rates at a 50-year low, unemployment at just 5.5 per cent, economic growth about 3 per cent and very little debt … you could be forgiven for thinking things were not too bad.

Mining

Argyle shows every facet, especially red

The Argyle Pink 1.31 carat heart diamond.

Kylie Williams Diamonds don't just come in all shapes and sizes: they come in a rainbow of colours.

Go with the flow and you should bag a valuable catch

marcus-padley-dinkus

MARCUS PADLEY If success in the sharemarket is being right 51 per cent of the time, then you don't need much of an edge to succeed.

Markets

Plummeting dollar, budget steal limelight

Markets

GARETH HUTCHENS The sharemarket lost ground this week, slipping 0.6 per cent, but the dollar stole the headlines after dropping like an anvil.

Companies

Trailing herd is a tale of woe

John Douglas.

CHRISTOPHER WEBB Punters who like piggy-backing director buying - particularly multi-director buying - have discovered that sometimes it can be costly. Very costly.

Dodo founder cashed up for second strike

Pallisco_marc

Marc Pallisco Melbourne's newest developer, Dodo founder Larry Kestelman, has made his second major property play.

Property

Investor set to double his money on three sites

Melbourne skyline.

SIMON JOHANSON A wealthy property investor who is selling three prime city development sites may nearly double his initial $47 million investment.

Property

US focus for Drapac funds

The Sears Tower.

SIMON JOHANSON Australian property group Drapac is set to launch two investment funds to raise $50 million to invest in US real estate.

Media

Break-up could breathe new life into News

Rupert Murdoch.

COLIN KRUGER Analysts say the split into two divisions may lead to a re-rating of the embattled publishing business.

China's State Grid powers up in Australia

malcolm-maiden-dinkus

MALCOLM MAIDEN In the electricity industry, Chinese government-owned State Grid Corporation is the global whale.

Media

Media groups forced to fix business model

Generic Channel 7 logo.

COLIN KRUGER You do not need to look at News Corp's local operations to realise the media sector is engaging in radical change to survive the cyclical and structural headwinds.

Retail

China the new competitor in Australia's online sales

Hugo Boss shirts.

GEORGIA WILKINS As Australia's major retailers increase their online sales channels, they could face competition from China's booming e-commerce industry.

Tax

Tinkler resolves ATO debts

Former Australian billionaire Nathan Tinkler.

GARETH HUTCHENS Coal baron Nathan Tinkler has reached an in-principle settlement with the ATO over unpaid debts.

Retail

Wesfarmers shares fall short of their Target

Target logo.

GLENDA KWEK Wesfarmers shares suffer biggest fall in almost two years after the company sharply lowered Target's earnings forecast.

Wealth

Changing fortunes put Gates back on top

Bill Gates.

Alex Cuadros and Crayton Harrison Bill Gates is once again the world's richest person, recapturing the title from Carlos Slim.

Social media

Facebook battles mobile concerns

A Facebook Inc. social media logo.

Brian Womack Facebook marked its first anniversary as a public company on Friday, and investors have little reason for merriment.

Mining

Foreign investors unhappy

investors at the coalmine.

PETER KER Big foreign investors turn up the heat on Australian regulators over a controversial stalled mining project in the nation's east.

Construction

Leighton facing write-downs class action

A Leighton sign.

PHILIP WEN A class action lawsuit over more than $1 billion in profit write-downs will be added to the list of shareholder concerns when the Leighton board faces the annual meeting on Monday.

Biotechs

Virtus Health IPO has market back in the pink

Stem cell research.

Madeleine Heffernan It's an industry that mixes science, hope and big bucks. And now it's heading to the sharemarket.

Utilities

China makes $3b power play for energy network

Generic power.

BRIAN ROBINS Hard on the heels of its $500 million-plus purchase of a large stake in the power network in South Australia, China's State Grid has paid more than an estimated $3 billion for control of the main gas network in much of eastern Australia along with a one-fifth interest in SP AusNet.

Currencies

Dollar's slide mostly good

Generic dollar coins.

PETER KER For a moment, it seemed the high Australian dollar might join the cockroaches as the only survivor of nuclear winter.

Mining

When big miners tighten belts, large contractors feel the pinch

Generic contractor.

PHILIP WEN Although they saw it coming, even veteran mining contractors were surprised at how fast the well dried up.

Delayed return to surplus no worry - what causes it is

ross-gittins-dinkus

ROSS GITTINS Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending.

China's calling - and we need chutzpah to go with wine and cheese

Harold Mitchell dinkus

HAROLD MITCHELL In the famous 1975 ''Thrilla In Manilla'', Muhammad Ali and Joe Frazier slugged it out in the greatest boxing match of all time.

Hostilities boil over into world war spree

Michael West

MICHAEL WEST Here we are sitting pretty at the tail end of the biggest boom in history. You could be forgiven for thinking things were not too bad.

Retail

China roars along e-tailing superhighway

Alibaba.com Ltd.'s headquarters.

Richard Cooper and Richard Dobbs Mass consumption is coming of age in the internet era.

Greek economy recovering but few jobs

Greece's long recession may be over by 2014 but the jobless rate will stay above 20 per cent for another three years.

Tiger Australia narrows quarterly loss

Tiger Australia expects to be better positioned to tap opportunities for further expansion following the ownership tie-up with Virgin Australia.

Qld govt approves Crown increase in Echo

Queensland's Office of Liquor and Gaming Regulation allows Crown to lift its voting stake to above 10 per cent in Echo.

$A down and staying down

Evan Schwarten The Australian dollar appears to be settled for a long stay below the 100 US cent mark.

Australian slump affects Nuplex earnings

Nuplex shares have dropped nearly nine per cent after it cut its full-year earnings guidance again.

Currencies

Dollar dives like a 'falling knife'

x

GLENDA KWEK What’s been driving the dramatic plunge in the dollar, and why we shouldn't expect a rebound any time soon.

China buys into power network

Drew Cratchley A state-owned Chinese power company is set to take a major stake Singapore Power International's Australian assets.

How much more bull can world markets bear?

Matthew Kidman

Matthew Kidman It is virtually impossible to find an expert who believes equity markets are a risky place to invest.

Buyers say it is time for auction action

12 Grandview Grove.

Nicole Lindsay Melbourne turned in a strong auction clearance rate of 73 per cent on the weekend.

CBD

Budget deadline a sticky business

CBD with Ben Butler.

BEN BUTLER Wayne Swan faced an unusual problem releasing his budget - having enough time for the glue holding the pages together to set.

Resources

Fortescue told to re-price Pilbara rail

Queensland Rail.

PETER KER Andrew Forrest's Fortescue Metals Group has been told to change the way it charges for access to its Pilbara railway, as regulators grapple with Brockman Mining.

Resources

US shale gas may become export rival to Australia

Freeport LNG facility in Quintana.

PETER KER Fears that the US could become a rival are firming as the Obama approves more LNG exports.

Cosmetics

Cosmetics case reaches testing time

MAC cosmetics.

Gareth Hutchens The case involving allegedly fake MAC products being sold in Target stores has hit a snag.

It takes no brains to kick Treasury

ross-gittins-dinkus

ROSS GITTINS When it comes to forecasting the economy the econocrats are on a hiding to nothing.

Monopoly delivered on a platter

Michael West

MICHAEL WEST To quote historian Niall Ferguson, they should ensure the survival of the fittest, not the fattest.

Litigation

Morgan Stanley sued over $5m super losses

Morgan Stanley's world headquarters.

Chris Vedelago Morgan Stanley is being sued after losing $5 million with a series of 'aggressive' trades.

Aviation

Qantas pilots want terms Virgin offers

Generic qantas aircraft.

MATT O'SULLIVAN Qantas short-haul pilots will hold meetings across the country this week.

Aviation

Tiger Australia cuts its losses

Tiger Airways jet.

Matt O'Sullivan Tiger Australia has continued to narrow its losses due to stronger returns from fares.

Property

Auction clearance level best in three years

Nicole Lindsay Sydney's property market had a boom-time auction clearance rate of 79 per cent at the weekend as buyers shrugged off any concerns about the economy, employment or the election.

Security

Keyboard wars: US turns to rookies as cyber threats worsen

Code

Demand for internet security experts is dramatically overwhelming supply, write Sandrine Rastello and Jeanna Smialek.

Comments

Economy wide spending up in April

2:39am Spending rose for the eighth consecutive month in April, according to the Commonwealth Bank's Business Sales Indicator

Westpac drops fixed rate

5:20pm Westpac has lowered its one year fixed home loan rate to 4.79 per cent

Home loan wars heat up as Westpac cuts

Generic house and money.

GLENDA KWEK 11:05pm Westpac fires the latest salvo in the fixed-rate home loan wars as lenders battle for new borrowers following the RBA's cash rate cut.

Aust market tipped to open higher

Kylie Williams 1:09pm The Australian market is expected to open higher this week after strong leads from Wall Street.

Precious metals

Dismal week for gold

Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as the US dollar rose to the highest since 2008.

Airlines

Operational costs weigh on Tiger

Discount carrier Tiger Airways reported a quarterly operating loss of $S15.1 million ($12.4 million) because of higher operational costs.

European stocks rebound on bargain hunting

Euro logo.

Europe’s main stock markets have rebounded, with Frankfurt hitting arecord and Paris jumping above 4000 points for the first time since July 2011 as traders went bargain-hunting.

Oil rallies as US consumer sentiment rises

World oil prices have risen for the third day in a row after a better-than-expected reading on US consumer confidence boosted hopes for stronger energy demand.

Wall St

Records tumble as US stocks soar

wall street

US stocks continued their climb into uncharted territory, racking up the fourth week of gains in a row.

Tax

'Meeting of the minds' spares Tinkler

Former Australian billionaire Nathan Tinkler.

GARETH HUTCHENS The embattled coal baron Nathan Tinkler has reached an in-principle settlement with the Australian Tax Office over debts owed by several of his companies.

IVF

Expecting soon - Virtus waiting on IPO

Stem cell research.

Madeleine Heffernan It's an industry that mixes science, hope and big bucks. And now it's heading to the sharemarket, breaking a drought in big initial public offerings and lining the pockets of its private equity and medical owners.

Retailers raise fashion stakes with exclusive designer collaborations

CEO of J BRAND, Jeff Rudes and models Elsa Cocquerel in the shorts and Jordan Murray wearing pants. Pictured in 'Come As You Are' boutique, paddington, Sydney. 17th May 2013. Photo by Tamara Dean
Sent from my iPhone

A22T2353.JPG

PAULA JOYE It's the age of fashion democracy: luxury design at affordable prices. Ten years after Chanel's Karl Lagerfeld produced a collection for Swedish mass retailer H&M, high-end designer collaborations are no longer a trend but essential weapons in the fast fashion war.

Break-up could breathe new life into News

COLIN KRUGER Analysts say the split into two divisions may lead to a re-rating of the embattled publishing business, writes Colin Kruger.

World war spree is declared

Michael West dinkus

MICHAEL WEST Here we are sitting pretty at the tail end of the biggest boom in history. What with interest rates at a 50-year low, unemployment at just 5.5 per cent, economic growth about 3 per cent and very little debt … you could be forgiven for thinking things were not too bad.

Mining

Argyle shows every facet, especially red

The Argyle Pink 1.31 carat heart diamond.

Kylie Williams Diamonds don't just come in all shapes and sizes: they come in a rainbow of colours.

Go with the flow and you should bag a valuable catch

marcus-padley-dinkus

MARCUS PADLEY If success in the sharemarket is being right 51 per cent of the time, then you don't need much of an edge to succeed.

Markets

Plummeting dollar, budget steal limelight

Markets

GARETH HUTCHENS The sharemarket lost ground this week, slipping 0.6 per cent, but the dollar stole the headlines after dropping like an anvil.

Companies

Trailing herd is a tale of woe

John Douglas.

CHRISTOPHER WEBB Punters who like piggy-backing director buying - particularly multi-director buying - have discovered that sometimes it can be costly. Very costly.

Dodo founder cashed up for second strike

Pallisco_marc

Marc Pallisco Melbourne's newest developer, Dodo founder Larry Kestelman, has made his second major property play.

Property

Investor set to double his money on three sites

Melbourne skyline.

SIMON JOHANSON A wealthy property investor who is selling three prime city development sites may nearly double his initial $47 million investment.

Property

US focus for Drapac funds

The Sears Tower.

SIMON JOHANSON Australian property group Drapac is set to launch two investment funds to raise $50 million to invest in US real estate.

Media

Break-up could breathe new life into News

Rupert Murdoch.

COLIN KRUGER Analysts say the split into two divisions may lead to a re-rating of the embattled publishing business.

China's State Grid powers up in Australia

malcolm-maiden-dinkus

MALCOLM MAIDEN In the electricity industry, Chinese government-owned State Grid Corporation is the global whale.

Media

Media groups forced to fix business model

Generic Channel 7 logo.

COLIN KRUGER You do not need to look at News Corp's local operations to realise the media sector is engaging in radical change to survive the cyclical and structural headwinds.

Retail

China the new competitor in Australia's online sales

Hugo Boss shirts.

GEORGIA WILKINS As Australia's major retailers increase their online sales channels, they could face competition from China's booming e-commerce industry.

Tax

Tinkler resolves ATO debts

Former Australian billionaire Nathan Tinkler.

GARETH HUTCHENS Coal baron Nathan Tinkler has reached an in-principle settlement with the ATO over unpaid debts.

Retail

Wesfarmers shares fall short of their Target

Target logo.

GLENDA KWEK Wesfarmers shares suffer biggest fall in almost two years after the company sharply lowered Target's earnings forecast.

Wealth

Changing fortunes put Gates back on top

Bill Gates.

Alex Cuadros and Crayton Harrison Bill Gates is once again the world's richest person, recapturing the title from Carlos Slim.

Social media

Facebook battles mobile concerns

A Facebook Inc. social media logo.

Brian Womack Facebook marked its first anniversary as a public company on Friday, and investors have little reason for merriment.

Mining

Foreign investors unhappy

investors at the coalmine.

PETER KER Big foreign investors turn up the heat on Australian regulators over a controversial stalled mining project in the nation's east.

Construction

Leighton facing write-downs class action

A Leighton sign.

PHILIP WEN A class action lawsuit over more than $1 billion in profit write-downs will be added to the list of shareholder concerns when the Leighton board faces the annual meeting on Monday.

Biotechs

Virtus Health IPO has market back in the pink

Stem cell research.

Madeleine Heffernan It's an industry that mixes science, hope and big bucks. And now it's heading to the sharemarket.

Utilities

China makes $3b power play for energy network

Generic power.

BRIAN ROBINS Hard on the heels of its $500 million-plus purchase of a large stake in the power network in South Australia, China's State Grid has paid more than an estimated $3 billion for control of the main gas network in much of eastern Australia along with a one-fifth interest in SP AusNet.

Currencies

Dollar's slide mostly good

Generic dollar coins.

PETER KER For a moment, it seemed the high Australian dollar might join the cockroaches as the only survivor of nuclear winter.

Mining

When big miners tighten belts, large contractors feel the pinch

Generic contractor.

PHILIP WEN Although they saw it coming, even veteran mining contractors were surprised at how fast the well dried up.

Delayed return to surplus no worry - what causes it is

ross-gittins-dinkus

ROSS GITTINS Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending.

China's calling - and we need chutzpah to go with wine and cheese

Harold Mitchell dinkus

HAROLD MITCHELL In the famous 1975 ''Thrilla In Manilla'', Muhammad Ali and Joe Frazier slugged it out in the greatest boxing match of all time.

Hostilities boil over into world war spree

Michael West

MICHAEL WEST Here we are sitting pretty at the tail end of the biggest boom in history. You could be forgiven for thinking things were not too bad.

Retail

China roars along e-tailing superhighway

Alibaba.com Ltd.'s headquarters.

Richard Cooper and Richard Dobbs Mass consumption is coming of age in the internet era.

Greek economy recovering but few jobs

Greece's long recession may be over by 2014 but the jobless rate will stay above 20 per cent for another three years.

Tiger Australia narrows quarterly loss

Tiger Australia expects to be better positioned to tap opportunities for further expansion following the ownership tie-up with Virgin Australia.

Qld govt approves Crown increase in Echo

Queensland's Office of Liquor and Gaming Regulation allows Crown to lift its voting stake to above 10 per cent in Echo.

$A down and staying down

Evan Schwarten The Australian dollar appears to be settled for a long stay below the 100 US cent mark.

Australian slump affects Nuplex earnings

Nuplex shares have dropped nearly nine per cent after it cut its full-year earnings guidance again.

Currencies

Dollar dives like a 'falling knife'

x

GLENDA KWEK What’s been driving the dramatic plunge in the dollar, and why we shouldn't expect a rebound any time soon.

China buys into power network

Drew Cratchley A state-owned Chinese power company is set to take a major stake Singapore Power International's Australian assets.

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