Betrayed: Hayne casualties in limbo a year later

Former Supreme Court judge Bob Austin said those who had their reputations destroyed didn't get a "proper opportunity" to defend themselves, and ASIC had a responsibility to "clear the air" if enforcement actions did not …

Barty party crash leaves Open exposed

Tennis officials are also facing renewed pressure to change the name of Margaret Court Arena, after a fiery interview with tennis great John McEnroe on Thursday to explain his on court protest, reignited the controversy.…

Lights out for Tesla shorts

Russell calls Teslas computers that happen to have wheels and claims it has an unbeatable lead in the race to build the smart cars everyone will buy. He also insists Tesla should be viewed as…

ASX slides as virus outbreak fears spiral

Fears about disruption to commodity demand in China due to coronavirus saw the major iron ore miners add to falls on Thursday. Rio Tinto closed 1.23  per cent lower and BHP slid 0.86 per cent.…

The big bank theory against cash

After the opening remarks, Rex Patrick, a Centre Alliance senator from South Australia, offered Adams soft-ball questions such as: "Is there any strong evidence this will cause a change in conduct?" Among the dodgy evidence…

Ikea closes all China stores due to virus

IKEA has temporarily closed all its stores in China because of the outbreak of the new coronavirus, the Swedish homewares giant said on Thursday. IKEA is temporarily closing its stores in China. BloombergThe decision to close…

A taste of what might be Justin Hemmes’…

What Mimi’s isn’t going to be, he insists, is ordinary. “I love using under-utilised fish and rare heirloom vegetables, but I also love Burgundy and truffles,” he says. “It’s going to be all those things.”…

ASX set to pause; Fed on hold

NSW Treasury Corp chief economist Brian Redican says even if the federal government opens its purse strings a little, it won't be sufficient to revive consumer spending. Mr Redican notes the limited impact of the…

CBA switches on Klarna, invests another $US200m

Swedish-based Klarna, which was founded 15 years ago, has more than 85 million customers, 3,000 employees and operates in 17 countries, including the United States, where it is competing against Afterpay.  The service could be…

Baillieu sting target says he was entrapped by…

Scott Macaw, who lives in Denmark, is an investor in renewable energy. His LinkedIn profile says his job title is "Defender of the Universe". "The Australian tax laws are really nasty, and that’s why the,…

First-home buyers FOMO fueling market surge

Jumping ahead of the pack was first-homebuyer Ela Caglayan, a 23 -year old buyer’s assistant at Target Australia, who moved into her unit at Lancaster Apartments in Williams Landing, located 19 kilometres south-west of Melbourne,…

David Hancock cashes $20m Afterpay options

Finally, nearly five months since his final tranche of 1.5 million Afterpay options vested, the tech darling’s former boss David Hancock has cashed in. Afterpay disclosed to the market on Tuesday afternoon that 568,132 options…

Profit or ethics? Macquaries European dilemma

'The robbery of the century' Consider the trial that began in Bonn, Germany, in September, of the two British bankers who are accused of "aggravated tax evasion" for helping to structure 33 deals involving "cum-ex"…

Fugitive billionaire selling $38m Hockney

Hong Kong billionaire Joseph Lau will be the seller of one of the most expensive artworks at the year's first major auction, according to a person familiar with the matter. David Hockney's The Splash will…

ASX regains ground amid virus worries

‘‘The situation is extremely uncertain,’’ he said, saying it was key how Chinese authorities act to contain the outbreak. Beijing has imposed travel bans and locked down parts of the country to contain the virus’…

Why the UK and Australia disagree on Huawei

The periphery includes a lot of the big infrastructure that enables the system to work, such as the antennas used to connect mobile phones, computers and other devices to the core, and base stations which provide…

Morrison hints at funding for snubbed sports clubs

They showed 94 of 223 projects deemed "successful" in the first round of government funding failed to meet the threshold set by Sport Australia to receive funding. Labor announced on Wednesday there would be a…

Virus is Xis greatest challenge

Many scared local residents cooped up at home in Wuhan are angry about what is happening. But there is little open criticism of how Xi himself has managed the crisis, which was itself kept off…

Xi vows to fight demon virus as deaths…

Australia upgraded its travel advice to China late on Tuesday, warning its citizens to avoid the country and noted concern that further travel restrictions could be imposed. A couple in Beijine wear protective masks as…

It doesn’t make me look good if I…

The would-be investor then asks if selling shares issued through initial public offerings through the same stockbroker would break the rules. The firm's floats include financial adviser tech company Powerwrap and QMS Media, an outdoor…

The benefactors who champion art in death as…

In the end, he became too ill too quickly to hammer out the details, so Melissa stepped in after his death to devise initiatives, including the Don Macfarlane Prize, to support graduate, mid-career and senior…

Shares to rise; Treasury Wine lowers earnings outlook

Copper and gold miner Sandfire Resources has maintained full year production guidance after a solid quarter from its Degrussa operations. Copper production increased to 18,258 tonnes in the quarter from 16,730 tonnes in September, while…

Revealed: Eight Deloitte audit clients collapsed

"Companies can fail or enter liquidation for many reasons, and there is no systemic, causal link between corporate failure and audit quality in Australia," the firm said in its response to the questions on notice.…

ASX endures worst day of 2020 as virus…

"That will probably put a dent in the market for the time being until we get clarity." [Australia's] market is far more defensive in the case of this virus. — Jun Bei Liu, Tribeca Investment…

Keeping Bridget McKenzie more costly than removing her:…

David Littleproud would replace Senator McKenzie as Nationals deputy leader, junior Minister Darren Chester would take her cabinet spot and Resources Minister Matt Canavan would replace her as Senate leader. Another backbencher would be elevated…

AustralianSuper drained cash reserve before fee rise

Industry sources said AustralianSuper had in past years lowered administration reserve fees as a "loss leader" to attract new members and was now increasing fees and blaming the government's reforms. A low administration reserve may…

Barty and Kyrgios drag eyeballs on screens for…

More than 3.3 million people tuned in to the game against Nadal and Kyrgios. The Australian Open is broadcast by Nine, publisher of The Australian Financial Review. The match between Nadal and Kyrgios was the…

ASX tumbles as virus concerns deepen

"That will probably put a dent in the market for the time being until we get clarity." [Australia's] market is far more defensive in the case of this virus. — Jun Bei Liu, Tribeca Investment…

Virus wipes $1b from Andrew Forrest in a…

Fortescue shares have averaged $11.26 since the start of the year, which values the selldown by Hunan Valin at about $439 million. Tuesday's share plunge brings to an end a spectacular run for Fortescue, which…

How the coronavirus is hitting business

ANZ says that if Wuhan - the home town of the virus - continues its lock down then industrial production and travel will ground to a halt, hurting demand for our top three exports -…

Regal Funds portfolio manager resigns

Regal Funds Management portfolio manager Julian Babarczy has resigned after 14 years at the hedge fund. Street Talk understands Babarczy, who was a portfolio manager in the emerging markets team, is planning to move his…

Barty first Aussie woman into Open semis in…

Ashleigh Barty has withstood a fierce challenge from Petra Kvitova to become the first local woman to reach the Australian Open semi-finals in 36 years. The steely-eyed world No.1 had to fight off eight break…

ASX set to sink 1.2pc; virus fears grow

European shares were particularly hard-hit overnight, falling 2 per cent after China extended travel bans and the Lunar New Year holiday in an effort to help contain the spread of the coronavirus.  The biggest jolt…

Share cartel just solo chest-beating: witness

At risk was the ANZ share price. ANZ had announced that the share placement had successfully closed – but the bank did not inform the market that 25.5 million shares were now in the hands…

Labor open to backing super choice bill

The Australian Council of Trade Unions (ACTU) strongly opposes the bill as it argues that workers make a "collective choice" over their funds by voting for the clauses during bargaining. Labor senators in 2017 said…

How Kobe Bryant built a business empire

Meanwhile, Bryant was investing on another front as well. In 2014 he announced he'd formed Kobe Inc., based in Newport Beach, with plans to develop brands that would upend the sports industry. The first investment…

Hamish Douglass map for investing this decade

"Mobility, internet of things, edge computing, enables the whole cloud to come together and do things we can't even imagine today and businesses we haven't even thought of will be $100 billion businesses in ten…

Accenture loses NZ boss to rival as local…

Accenture ANZ chief executive Bob Easton cited two consecutive years of missed internal sales targets as the reason behind the cull. However, insiders say overly ambitious growth targets imposed by head office are to blame,…

Trumps trial could be all over this week

Pressure is expected to mount on those individuals seen as most likely to fold - a group that includes Republican senators Mitt Romney, Susan Collins and Lisa Murkowski - as the week moves towards its…

Why BlackRock is facing backlash in France

It is also an ominous sign of how vulnerable asset managers are in general to populist, anti-capitalist rage as the sector continues on its growth march and takes on roles left vacant by banks. As…

Buyers hold back at key Gold Coast auction

"There’s been this slow wind down in stock volumes," he said. "When there’s a shortage of stock in the market, you get caught up in a catch-22 situation where if a person can’t find something…

Australia lags as the world tries to figure…

Faethm has compiled data of dizzying scope on the ways in which emerging technology like AI will impact on different jobs, and is used by governments around the world including Canada, Luxembourg and Finland to…

Why 30,000 cases of cancer are over-diagnosed in…

These cancers are often detected through screening, overzealous testing or found incidentally, during an examination for something else. Professor Dorothy Keefe says the word overdiagnosis is emotionally charged.  Most of them would not otherwise have…

China faces grave situation as toll rises

In Hong Kong, with five confirmed cases, the city's leader Carrie Lam said flights and high speed rail trips between the city and Wuhan will be halted. Schools in Hong Kong that are currently on…

Top bankers among Australia Day honourees

Ms Atlas said the recognition also reminded her of the "thousands" of people whom she had encountered in a career spanning business, education, and the arts. Women made up 41.6 per cent of this year's…

A rethink for Brand Australia

Birmingham says: "We understand the scale of the challenge for Tourism Australia to recover our appeal in market ... [but] other nations have demonstrated you can bounce back from major disasters with a concerted and…

Australias colonisers wanted better for this land

The new land of Australia was to become, not a permanent prison for Britain’s surplus convicts, but an unprecedented experiment in implementing the most enlightened policies of the day: no slavery in a free land,…

The Davos crowd look on the bright side

He sang the praises of his unilateralist pursuit of national self-interest, threatened to kick off a trade war with Europe, and will in coming weeks drag World Trade Organisation boss Roberto Azevêdo to Washington for…

Great shot: Coffee a big hit at tennis

Speaking at the Australian Open on Friday, Mr Lavazza said Australia was a key part of the €1.9 billion  ($3 billion) company's strategy. "It's important for us to be here because Australia is a melting…

Macquarie in hot seat to advise BGH in…

BGH Capital’s adviser in its $4 a share tilt at Village Roadshow will have their work cut out for them. Village Roadshow could be heading private. Scott McNaughtonWhoever lands the job will be facing off against…

Westpac chair has gift of the gab

“He puts a lot of effort into getting the culture of the organisation right. He has strengths as a change agent and has been very successful with getting the staff of an organisation united and…

Vegetable dreams squashed by Kaufland exit

The competition watchdog will investigate allegations major fresh-food suppliers planned to withhold supply to Kaufland in fear of reprisal from Coles and Woolworths. Suppliers have alleged a formal or informal agreement between leading fresh food…

Crown cleans up: Alexander makes way for Coonan…

"This new structure is in line with feedback we have received from a number of proxy advisers and shareholders and better aligns with contemporary governance practices." MORE TO COME Crown Resorts in the midst of…

Investing lessons from the decade

At an index level, US shares have also outperformed due to the high concentration of large-cap growth stocks. "In the S&P 500, its large cap stocks are dominated by technology firms," says Sherwood. "If you…

Smoke taint ruins vineyard crops

Harvest is underway in the Hunter Valley north of Sydney. While few vineyards there were directly affected by the fires, the density and persistence of smoke from nearby blazes that have been burning since October…

What Tom Longs death taught us about treating…

For decades, surgery, chemotherapy and radiation were the three pillars of cancer treatment. In recent times, two more have been added; targeted therapy and immunotherapy. Today, increasing numbers of patients are being treated with a…

The woman who coined the term rent seeking

Dressed in pearls and neat speckled jacket, Krueger is the very embodiment of the powerful technocratic elite so despised by the likes of Donald Trump and his supporters. The President is clearly on her mind.…

Six firefighters injured, three dead within 10 hours

Vision shows what little is left of the large plane that crashed with three American firefighters inside. Nine"Police are liaising with US authorities to ensure all next of kin have been notified of the men’s deaths,"…

Sopranos actor tells jury Weinstein raped her in…

The 59-year-old actress became the first of Weinstein's accusers to testify at his trial, where the movie mogul whose downfall gave rise to the #MeToo movement is charged with forcibly performing oral sex on former…

Listed funds are toxic time bombs

“There should be no payments allowed from fund managers to the distribution system,” Moore says. Moore has found an unlikely, and indirect, ally in the form of LIC patriarch Geoff Wilson, who during the week…

Global markets swoon as lethal China virus spreads

"This disruption comes at a time when Chinese economic growth already looks fragile, and it will unfortunately undo some of the boost in consumer and business sentiment from the China-US trade deal," said economist Eswar…

ASX to rise despite Asias virus fears

Goldman Sachs says Australia's large weighting to companies with high levels of emission poses a "significant potential risk" for the market as the climate policy debate rages. The warning came as the broker did a…

How Maxsted secured his own successor

The board agreed that if McFarlane would do it, he was the right man for the job. "We unanimously thought that if John McFarlane was available, he would be the person we would want to…

Industry funds back Westpacs chairman coup

“John McFarlane’s significant banking experience is important, particularly in an industry going through significant change.” A spokesperson for industry fund Cbus welcomed the appointment and said the fund's leadership and investment managers were looking forward…

Law firms business model faces perfect storm

For such well-paid staff to earn below the minimum hourly rate would require hours well beyond an extra few a day and suggests around-the-clock weekend and late night work. Lawyers have complained of working more…

No warning as Kaufland pulls plug on Australia

Others pointed to senior management changes at the Schwarz Group, Kaufland and sister chain Lidl last year and Lidl's expansion in the US, which has come under pressure. "Perhaps it’s part of a broader withdrawal…

ACCC to investigate claims behind Kaufland exit

Australian Competition and Consumer Commission chairman Rod Sims vowed to investigate the allegations and called on people with knowledge of the situation to come forward. ACCC chairman Rod Sims. Louie Douvis"We'll definitely have a look at…

Three killed in water-bomber crash as fires rage

He said the experienced crew were well-known to local fire fighting authorities. "It impacted heavily with the ground and initial reports are that there was a large fireball associated with the impact of the plane as…

Volatility hits as ASX drops on virus fears

The positive result reduces the probability that the Reserve Bank of Australia (RBA) will slash rates anew on February 4. Thursday's market falls were closely tied to the fact that investors now viewed the next…

Yuhus quick, quiet tower sale leaves millions on…

Mr Huang senior, who is under investigation by the NSW corruption watchdog, has been transferring assets out of his name since the Australian Taxation Office began asking questions about his affairs in 2016. Several private…

Jobs data torches February rate cut forecasts

Chief economist Michael Blythe said the jobs data added to other pieces of stronger economic data in the last few months, and was above the RBA's forecast. But he also cautioned that it's too early…

Only a fool would bet against Trump WTO…

It marks the start of an important new phase in his efforts to recast America’s terms of trade with the world. Trump has long expressed contempt for the organisation, and in 2018 reportedly expressed on…

How new watches stand out from the luxury…

They’ve had a bit of practice of course. Founded in 1755, it’s the oldest watch company in continuous existence, and only five years back produced the most complicated watch yet invented – a one-off with…