Insights

Chinese telecoms company Huawei is set to become a pawn in the controversial free trade agreement (FTA) review between China and Australia.

Is winter coming for ANZ? First of all credit where credit is due. The quote came from a rival publication owned by Rupert Murdoch, but the image it conjured up had CBD's artist in a frenzy. After brokerage JPMorgan this week offered some critical analysis of ANZ's long march into Asia, Lord Mike Smith of Docklands responded by reaching for his trusty blade. "This is a long game; it's like the Game of Thrones. We're in book one at the moment and we've got some way to go," Lord Smith told Mr Murdoch's scribe. Still, as Lord Smith well knows, seizing the Throne of Swords can be a dangerous move after many ended up on the wrong end of the sword.

Toll Holdings has joined a growing list of companies revealing they are yet to experience a noticeable improvement in economic conditions despite a post-election lift in business confidence.

The worst NSW bushfires for several decades are unlikely to severely dent the profits of Suncorp, after it said claims from the disaster would not breach its reinsurance cover.

Medibank Private could emerge as a takeover target, particularly for an overseas insurer, once listed on the sharemarket, rival NIB says.

The sharemarket finished higher, driven by strong gains among the big banks, as the share price of Australia's biggest lender, Commonwealth Bank, surged to a record high.

Commonwealth Bank shares struck a new high on Thursday, after surging by a third in the past year. The stock closed at $75.58, up 97 cents, eclipsing the previous record of $75 set a few months ago. The bank's market capitalisation now stands at $121.8 billion. The shares were trading at $56 just a year ago.

Golden Circle will axe 123 positions from its Victorian juice plant and move the work to Queensland. The company said the decision to move production was taken to ensure it remains viable. Meanwhile, multinational vegetable processor Simplot announced its NSW and Tasmanian plants will stay open, but only for a guaranteed three years.

Pacific Brands has become an unlikely victim of the mining slowdown, with a fall in jobs in construction and resources leading to weaker sales of its workwear brands such as Hard Yakka.

The Reserve Bank has notched up its biggest profit in four years, making $4.3 billion in the year to June, thanks to the sharp fall in the Australian dollar.

Newcrest Mining has indicated it is preparing for further gold price declines which could lead to further asset write-downs. At the same time, a low gold price could open the door for Newcrest to buy assets on the cheap.

Medibank Private could emerge as a takeover target, particularly for an overseas insurer, once listed on the sharemarket, says rival health insurer NIB.

Smith sharpens blade on critics I

Under the stewardship of Richard Goyder, Wesfarmers has staged a textbook turnaround in most of its retail business over the past five years, but the conglomerate's engine room, Coles, is reaching a point where the serious improvements are a thing of the past.

The level of investment among Australia's non-mining businesses is at its lowest since the 1990s recession because the global financial crisis has made many executives reluctant to start taking risks again, the Reserve Bank says.

A former Australian coal company executive has become the unlikely David to BHP Billiton's Goliath, taking on the mining company in London on Thursday with a bid to join its board on a platform of radical action against climate change.