ASX jumps as Afterpay soars 9.5pc to lead tech sector gains
Australian shares shot higher on Thursday, with Afterpay surging to a new high and other tech stocks climbing as the sector took its lead from the US.
Victoria's COVID infection spreads interstate
Victoria's second surge has caused infection breakouts in Sydney and Darwin as authorities lock down 36 suburbs, amid warnings the global pandemic is only a quarter done.
Quarantine system 'incredibly effective' despite Melbourne outbreak
Deputy Chief Medical Officer Michael Kidd has backed the hotel quarantine system despite revelations breaches by guards contributed to the infection surge in Melbourne. Australia passed the milestone of 8000 cases. Follow our live coronavirus blog here.
Home listings climb as vendors slash prices
A large amount of fresh housing stock has hit the market as vendors cut their asking prices.
UBS snares two $100m-plus blocks in Reliance Worldwide, Aristocrat
Hot on the heels of its CSL block on Wednesday, UBS was back among the chunky institutional trades on Thursday afternoon.
Fast-track HomeBuilder scheme, builder says
Construction job losses are set to rise further due to the delay in deploying the HomeBuilder scheme, a builder says.
Russians grant Putin right to extend his rule until 2036
The Central Election Commission said 77.9 per cent of votes counted across the world's largest country had supported changing the constitution.
Companies
Hunt backs NSW rival as AGL seeks LNG import tick
Flinders MP Greg Hunt's renewed opposition to AGL's Crib Point project in Victoria comes as the federal government backs a gas-led recovery in manufacturing.
Myer's silence leaves investors in the dark
The department store chain is under growing pressure to issue a trading update amid increasing uncertainty over sales and earnings during the coronavirus crisis.
Cashed-up Webjet can survive 'Dr Doomsday' scenario
As the travel outfit taps another $160 million just after raising $346m in April, the CEO bristles at a shareholder question about value dilution.
Dicker Data soars past $1b in first-half revenue
David Dicker's IT distribution business has weathered more than one economic downturn, having been founded in 1978.
Renewables surge, brown coal dips in NEM shake-up
Renewable power provided more than a quarter of Australia's electricity needs over the past year as cheap gas slashed wholesale electricity prices.
Consultants bill cut as visa plan scrapped
The Australian National Audit Office says it will curb its spending on private sector consultants after it was revealed Peter Dutton's Home Affairs Department spent $39.7m with BCG on its dumped plan to privatise the processing of visas.
Clayton Utz appoints two new deputy chief executive partners
Big six law firm Clayton Utz's new chief executive partner, Bruce Cooper, had his first day on the job on July 1.
Markets
- Live
- Markets Live
ASX soars above 6000; Afterpay surges 9pc
The Australian sharemarket closed above 6000 points for the first time since June 10. The S&P/ASX200 Index rallied 1.6 per cent. Afterpay soared 9.5 per cent to a record high as Citi more than doubles price target.
Iron ore price set to slide but budget boost intact
The price of iron ore, Australia's largest export, will slide below $US100 a tonne in the new financial year, a sharp contrast to forecast gains for oil.
- Opinion
- Hedge funds
Are hedge funds the true smart money?
There is evidence of intelligent life in the hedge fund universe. But it remains difficult to access.
Bond buyers look beyond three-year yield in world of curve control
Several central banks have been eyeing the RBA's success in keeping the three-year yield pinned to 0.25 per cent but the Fed does not appear too impressed.
- Opinion
- Global economy
Sunny third-quarter economic outlook turns cloudier
With health concerns forcing a growing number of US states to backtrack on reopening, the depth and breadth of the economic recovery is at risk.
Opinion
ABC adept at playing cuts victim
The national broadcaster's revenue has been barely touched by the pandemic – and it's out of touch on most other things too.
Columnist
No end to pandemic pain for landlords
In the face of the pandemic, landlords have been called on to support their tenants. Many have been happy to help. But they are not happy to see their rights eroded in quite unprecedented ways.
Contributor
Why the economic recovery will be a long, slow slog
CBA chief economist Stephen Halmarick warns that even though total spending on CBA credit and debit cards is 4 per cent higher than this time last year, "the momentum of the improvement has slowed".
Columnist
Defence build-up underscores the security alarm
That there will be no let-up in Australia’s defence build-up in the post-COVID-19 recession-hit world highlights the alarm in Canberra about the regional security picture.
Editorial
Victoria's resistance doesn't bear comparison
The Andrews government admits the massive problems created by the failures in Victoria's quarantine hotels, but rules out using the ADF. Why?
Columnist
What would Owen Harries do?
Here's how one of the architects of Australia’s modern foreign policy would navigate the new and less benign strategic territory in the region.
Columnist
Politics
PM mulls safe haven for Hong Kongers
Scott Morrison says Australia is concerned over China's national security crackdown in Hong Kong, where the imposition of new laws has undermined the island's autonomy.
Costs rising on tax reform failures
The costs of failing to reform the tax system, including the 10 per cent GST, will get worse unless political leaders tax consumption and land more, former top government tax officials and business says.
Millennial super-spreaders causing most infections
International studies have found younger super-spreaders infecting others in care facilities, bars and restaurants are the primary cause of community transmission.
Daily Telegraph loses $2.9m Rush appeal
The newspaper has lost its appeal over a court ruling that it defamed Hollywood actor Geoffrey Rush.
NSW blows whistle on tax failings
The low GST is forcing up "damaging" income taxes, warns a new report commissioned by NSW Treasurer Dominic Perrottet.
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World
Hong Kong marks new laws with 370 arrests
Hong Kong police arrested 370 protesters in the first wave of demonstrations over new national security laws which carry maximum penalties of life in prison.
Britain throws open doors to 3 million Hong Kongers
Boris Johnson makes good on a promise to allow eligible Hong Kong residents to resettle in Britain as Beijing's security law comes into force.
Taiwan sees a threat in Beijing's new security law for Hong Kong
China's move to strengthen its grip on Hong Kong has further eroded what little support there was in Taiwan for unifying with the mainland.
- Analysis
- Coronavirus pandemic
'Worth risking': Can Europe save its summer?
As much as 10 per cent of European economic activity depends on tourism so the complete loss of this year’s season is a price no government can easily pay.
- Opinion
- US election
This should be Biden’s bumper sticker
Eventually the elusive Joe Biden will debate the incumbent and will need a simple, clear message to counter Trump's tired "Make America Great Again" trope.
Property
- Exclusive
- Property development
One in 10 off-the-plan apartment sales collapse
A large number of off-the-plan buyers are walking out of their apartment purchases despite risking losing tens of thousands in deposit.
Media scion has second go at selling house for $30m
Alexander Ma, the son and heir apparent of Hong Kong press baron CK Ma, was just 28 when he paid $26.5 million for the Bruce Stafford-designed home in 2017.
- Exclusive
- Office
Charter Hall closes in on Qube's Minto site
Logistics group Qube looks set to accelerate the sale of a 30 hectare industrial site at Minto, in Sydney's south-west, for about $220 million.
Pandemic pushes Lendlease into the red
Urban developments, construction and apartment settlements have all been hit through the pandemic-induced slowdown.
Construction cost pressure eases due to COVID-19
Construction costs are expected to rise at a slower pace as a growing number of projects are cancelled or deferred.
Wealth
- Opinion
- Retirement living
Aged care pressures are mounting
A dark cloud has been hovering over aged care for a while, but a confluence of risk factors means it's getting darker.
Be wary of hasty SMSF decisions in volatile markets
Don't use these unusual investing times as a basis to start your own self-managed superannuation fund, writes John Wasiliev, who answers your queries on super.
How a year of drama can help investors
Top fundies say the dislocation caused by COVID-19 can create opportunities in the search for quality companies in the new financial year.
Technology
COVIDSafe app best of class for privacy, says study
The COVIDSafe app has been rated highly for its security against its global peers, according to a study by the University of Adelaide computer science school.
With India’s TikTok ban, the world’s digital walls grow higher
Censorship and politics are fracturing the global internet, isolating users and industries accustomed to ignoring national borders.
Facebook frustrates advertisers as boycott over hate speech kicks off
Advertisements for more than 400 brands including Coca-Cola and Starbucks were due to vanish from Facebook on Wednesday, after the failure of last-ditch talks to stop a boycott over hate speech on the site.
Work & Careers
Why these CEOs are itching to get back to the office
For these three CEOs, the remote working experiment has highlighted just how indispensable the office really is.
Why this CEO loves being interrupted
Optus chief Kelly Bayer Rosmarin loves having an open desk and will often pop into meetings or lunch gatherings to keep her finger on the company's pulse.
Life & Luxury
Winemakers with a thirst for activism
The drinks industry is using its reach and clout to speak out about political issues, which sometimes leaves a sour taste and divides drinkers along the way.
- Opinion
- Cars
The Ferrari F8 Spider roars, glides and bites
The brakes bite as suddenly as an asp and sink in as smoothly as fangs. You’ll love every minute of driving this disarming supercar — if you can afford it.
Lamborghini’s new $4.9m yacht has supercar DNA
Can’t get your hands on the Sián hybrid supercar? Get the boat instead, because the marque has a similar luxury vessel called the 'Tecnomar for Lamborghini 63'.
Restart your engines! F1 gets the green light
After a false start in Melbourne, we should be racing again this weekend – but Australian fans will need to watch it from their screens.
Rare 1972 Western Desert artwork leaves curator 'gobsmacked'
For the first time since its creation, an Aboriginal board painting from the Pupunya group is being auctioned on the secondary market.
