Australia Financial News

17.10 / 04:37

cryptocurrency Financial Services Australia outlines plan to regulate crypto exchanges

cryptocurrency collapses by forcing the platforms to get a financial services licence, the government said Monday. Any crypto exchange or digital asset platform with more than Aus$5 million (US$3.2 million) in aggregate assets would have to comply, the Treasury said in a proposal paper. About one in four Australians own some cryptocurrency, it said. Cryptocurrencies such as Bitcoin rely on decentralised cryptography to secure transactions instead of the traditional banking system.

17.10 / 03:03

Provident Digital Mobile ANZ information gatherings NAB, CBA switch on digital identity checking service

National Australia Bank and Commonwealth Bank have switched on a new identity checking service, ConnectID, which will allow companies to tap banks for information about customers rather than gathering it themselves, minimising the risk of another Optus-style attack.

17.10 / 02:29

NIFTY WhatsApp SENSEX track reports recommendations 6 things that changed for the stock market overnight - Gift Nifty to rally on Wall Street

BSE Sensex ended 115.81 points, or 0.17%, lower at 66,166.93, while the broader NSE Nifty 50 declined 19.30 points, or 0.10%, to settle at 19,731.75. “Overall we expect positive biasness to continue led by expectation of healthy demand during the festive season and robust earnings delivery from the majority of the corporates," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Here are key domestic and global market cues for Sensex today: Asian markets traded higher on Tuesday tracking overnight gains on Wall Street.

17.10 / 02:21

Aware CEO Merit Assurant PwC show social audit Big four audit, consulting model questioned in PwC tax leaks inquiry

Claims by big four accounting firms that they need specialised skills in their consulting businesses to deliver quality audits have been questioned after former PwC Australia chief executive Luke Sayers said he tried to sell the firm’s consulting arm during his time as leader.

17.10 / 02:21

Career Mobile Deloitte RBC Bill reports MA Moelis taps new resources sector head

MA Moelis Australia has added a new face to its corporate advisory lineup.

17.10 / 02:03

UPS NASDAQ Action NIFTY VIX GIFT Nifty up 5 points; here's the trading setup for today's session

«Overall we expect positive biases to continue led by expectation of healthy demand during the festive season and robust earnings delivery from the majority of the corporates,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded higher by 4.5 points, or 0.02 per cent, at 19815.50, signaling that Dalal Street was headed for muted start on Tuesday.

17.10 / 01:03

Align rock gossips 2020 Rio Tinto says lithium boom is cooling, for now

Rio Tinto has hinted that a three-year boom in lithium prices is coming to an end, but unlike its old rival BHP, the company says predicted supply shortages will ensure strong “market fundamentals” for the battery mineral longer term.

17.10 / 01:03

UPS Mullen Telstra voice recommendations New Telstra director Maxine Brenner hit with 17pc protest vote

New Telstra director Maxine Brenner has been hit with a 17 per cent vote against her election to the telecommunications group’s board after one proxy firm raised concerns over how she has handled corporate governance issues while on the board of Qantas.

16.10 / 21:49

Fox Actor CAL show reports 'Prosper’: Know megachurch drama series’ storyline, cast and what we know so far

Lionsgate introduces the family drama 'Prosper,' which features Richard Roxburgh as Cal Quinn, the founder and global pastor of a rapidly growing megachurch and Rebecca Gibney in the role of his wife, Abi Quinn, as per a Deadline report. Stan describes the series as a revealing look into the world of power and privilege.

16.10 / 21:21

Digital CEO Platform Action coinbase country innovations Time crypto rules ASIC chairman warns new crypto rules need more time

Australian Securities and Investment Commission chairman Joe Longo punctured the crypto industry’s enthusiasm for federal regulation, warning it will take time to finalise licensing to avoid high-profile collapses like that of US crypto exchange FTX.

16.10 / 21:21

UPS IPO Target Digital Entertainment economy Digital Classifieds Group set to buy Dubizzle’s Asian assets

An Australian online classifieds marketplace is beefing up its Asian footprint ahead of a potential ASX listing.

16.10 / 18:09

FIVE Aware Enterprise UBS Bill Vocus prepares $6 billion debt deal to bankroll TPG fibre tilt

Vocus Group, owned by Macquarie and Aware Super, has kicked off talks to put together a debt syndicate for its $6.3 billion bid to carve out ASX-listed TPG Telecom’s fibre assets.

16.10 / 18:09

COST Extreme Landmark economy consequences 2020 Government settles climate risk to bonds case, makes a key concession

The federal government was forced to acknowledge the potential risks of climate change on the value of sovereign bonds as it settled a landmark case on Monday that alleged it had misled or deceived investors, and the Federal Court judge involved said global warming would likely be “a huge drain on Commonwealth resources”.

16.10 / 18:09

Provident social $100m loan makes NSW first recipient of $20b Rewiring the Nation fund

NSW will receive a $100 million loan for grid infrastructure and to help support renewable projects including long-duration storage, as the first recipient from the Albanese government’s $20 billion Rewiring the Nation fund.

16.10 / 11:21

Blockchain CBDC regulation open Australia open to idea of CBDC as future of money — RBA

The Reserve Bank of Australia (RBA) is open to using a central bank digital currency (CBDC) as the future of money, where state-issued digital money would represent a tokenized form of central bank reserves.

16.10 / 10:35

UPS Digital Booking DOW recommendations stake Activist Builds News Corp Stake, Plans to Seek Changes

Starboard Value has built a stake in News Corp and the activist shareholder plans to push for strategic and governance changes at the Wall Street Journal parent. Starboard believes News Corp, one of the two arms of Rupert Murdoch’s media empire, trades at a significant discount to its fair market value due to its conglomerate structure, according to people familiar with the matter. Starboard plans to recommend News Corp spin off its digital-real-estate division, which includes a stake in Australian online-property-site operator REA Group and Realtor.com parent Move Inc.

16.10 / 08:21

UPS Man Gap Strategy information gatherings Catalano hails ‘$600m man’ after Magellan yields to Bolton

Embattled fund manager Magellan says it intends to convert its $2.65 billion closed end fund, the Magellan Global Fund, into an open-ended exchange-traded fund following pressure from activist investor Nick Bolton.

16.10 / 08:21

Fighting Strategy Bill pandemic performer poker Barrenjoey has ‘some sympathy’ for pubs billionaire in Endeavour fight

Analysts from stockbroker Barrenjoey say they have “some sympathy” for pubs billionaire Bruce Mathieson snr in his push to try to lift Endeavour Group’s performance, but say his aggressive campaign overplays the extent of the problems.

16.10 / 08:21

COST UPS Action Fighting reports Magellan plays its hand, but Bolton isn’t done

Monday was a good day for Keybridge Capital’s Nick Bolton, but the fight isn’t over.

16.10 / 08:21

UPS Racing coinbase Bitcoin country Bitcoin’s ‘moral imperative’ to replace fiat currencies

Bitcoin can fulfil a dual role as both a store of value and money to buy goods and services, and must replace “debased” fiat currencies in emerging nations helmed by corrupt governments, The Australian Financial Review’s Crypto Summit heard.

16.10 / 08:21

Blockchain COST Provident Digital Platform stage ‘Tokenised’ assets could save markets $17b a year: RBA

The Reserve Bank of Australia says creating real-world financial assets in a “tokenised” form could unlock billions of dollars in annual savings for banks and other financial institutions by streamlining settlement processes and automating registries.

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