Today
Stocks rally ‘too good to be true’ warn CIOs
Investment chiefs are warning the Australian sharemarket is looking too expensive given the uncertain economic backdrop which is a good reason to remain cautious this year.
- 1 hr ago
- Joanne Tran
- Updated
- Earnings season
CBA profit falls to $2.4b, ‘momentum’ improves
Commonwealth Bank’s lower margins had reduced profits over the last three months as higher interest rates saw late loan repayments rise.
- James Eyers and Lucas Baird
Biden fights back after Druckenmiller’s reckless spending lambast
Campaigning in a key state, Joe Biden defended his government’s massive government industry subsidies from critics including the billionaire investor.
- Matthew Cranston
- Live
- Markets Live
CBA down; Baby Bunting leads retail crash, JB Hi-Fi, Super Retail fall
Shares slip 0.4pc. Westfield lifts investment after Bondi attack. Retail worries mount on multiple trading updates. CBA’s profit slips 5pc, consumer debts creep higher. Follow here.
- Timothy Moore, Tom Richardson, Cecile Lefort, Sarah Jones and Joanne Tran
Yesterday
Companies tap offshore money as IPO drought deepens
A dire environment for capital raising is seeing a rise in dual listing activity between Canada and Australia as companies look to raise more money overseas.
- Joshua Peach
Coalition to oppose ‘sophisticated investor’ test overhaul
Labor is grappling with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
- Michael Read
- Opinion
- Chanticleer
‘I’m not Buffett’: Druckenmiller on Nvidia, Trump and the Fed’s error
Wall Street legend Stan Druckenmiller has profited from the Federal Reserve’s dovish pivot, though he says it could get harder for investors to time AI’s boom.
- James Thomson
Shares flat; Perpetual shares sink on KKR deal, Pinnacle jumps
Shares pare gains. ANZ sticks to Nov rate cut call. Dow rises for five straight days. Goodman lifts guidance. IPH lobs Qantm takeover bid. Leo Lithium sells $US343m tenement stake. Follow here.
- Timothy Moore, Tom Richardson, Sarah Jones, Joanne Tran and Cecile Lefort
This Month
Investors pull money from Wall Street in favour of Asia, Europe
Fund managers are reallocating money away from Wall Street betting that ‘US exceptionalism’ has run its course.
- Ishika Mookerjee, Charlotte Yang and Sagarika Jaisinghani
- Opinion
- Chanticleer
RBA is still betting on Goldilocks. Investors shouldn’t follow suit
With the ASX 200 back near record levels, investors are betting Michele Bullock is right on a soft landing. But with uncertainty high, a more all-weather approach looks sensible.
- Updated
- James Thomson
- Updated
- Earnings season
ANZ says it can reward shareholders and grow lending
The bank said profits were down in its retail business with conditions “more competitive than ever”, but lending to large companies was stronger.
- Updated
- Lucas Baird and James Eyers
ASX has best day in three months on RBA rate call; banks rally
Shares jump 1.4 per cent at the closing bell as CBA climbs; Reserve Bank revises inflation forecast; ANZ records 7 per cent cash profit decline in first half results. Copper breaches $US10,000. Follow updates here.
- Updated
- Timothy Moore, Joanne Tran, Cecile Lefort and Sarah Jones
- Opinion
- Smart Investor
The investment shift that could undermine your wealth plan
Whether to invest for income or growth is not the right question to ask for those in or moving to retirement.
- Tim Mackay
Shaw and Partners boss says ‘fed-up’ Morgan Stanley brokers walked
“Heavy-handed” Morgan Stanley’s loss is Shaw’s gain, says co-CEO Earl Evans, who now manages $5 billion in WA wealth alone.
- Brad Thompson
Investors return to Chinese stocks on housing policy hope
Battered Chinese assets are getting a second look as a combination of earnings recovery, policy support and cheap valuations lure investors.
- Charlotte Yang and Iris Ouyang
Westpac deflects downturn with special dividend
The Westpac boss says the return of $1.5 billion to shareholders is a sign of confidence in the Australian economy and the outlook for bad debts.
- Updated
- James Eyers and Lucas Baird
ASX tipped to hit 8300 by year-end defying rate talk
Brokers and investors have all turned more positive on the outlook for the sharemarket, despite traders pushing out interest rate cut expectations to early next year.
- Joanne Tran
Warren Buffett anoints Berkshire’s new king
Warren Buffett said Greg Abel should have final decisions on investments at Berkshire at the first annual meeting since business partner Charlie Munger died.
- Eric Platt and Michela Tindera
- Opinion
- Chanticleer
Macquarie guru Viktor Shvets says mind the generation gap
The pro-Palestine protests at university campuses around the world are a symbol of the generational transition under way. Investors should be ready.
- James Thomson
- Opinion
- Opinion
The succession wisdom of an iconic value investor
Fund manager Richard Pzena has made some tricky decisions during his career. But one he is particularly proud of is to act early on succession: his.
- Updated
- Jonathan Shapiro
![“You can’t get in the door here at Macquarie [Telecom] without customer service in your DNA,” says Luke Clifton.](https://static.ffx.io/images/$zoom_0.8394%2C$multiply_2%2C$ratio_1.777778%2C$width_1059%2C$x_15%2C$y_73/t_crop_custom/c_scale%2Cw_600%2Cq_52%2Cf_auto/7485a2f9dfd2d23d9a250ef1015b1bde1fb5f6e2)
