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    Hardliner: Iranian President Ebrahim Raisi.

    Helicopter carrying Iran’s hard-line president crashes

    Rescuers are trying to find the helicopter on which President Ebrahim Raisi and Foreign Minister Hossein Amir Abdollahian were travelling, state media reported.

    Anthony Albanese’s rating a preferred prime minister fell 2 points to 45 per cent while Peter Dutton’s was up a point to 39 per cent.

    Underwhelmed voters fear budget will lift rates

    Almost 40 per cent of voters think last week’s big-spending federal budget increases the chances of another interest rate rise, and just one quarter believe they will be better off, the latest poll shows.

    WA Premier Roger Cook.

    Cook says magnetite will make WA the ‘California of Australia’

    WA’s future in resources wasn’t just linked to battery minerals, but also to a different variety of iron ore largely overlooked by our mining industry: magnetite.

    Inside Anglo American’s rushed break-up plan

    Some of the most senior executives at Anglo American were caught off-guard by Duncan Wanblad’s spectacular break-up plan. Even the CEO himself.

    Hard Rock Hotels giant in talks to save Star

    The Florida entertainment giant is considering taking control of Star Entertainment with a proposal that would inject more capital into the struggling gaming group.

    ASX eyes record high as rate cut hopes fuel euphoria for shares

    Australian shares are set to advance after the Dow Jones crossed the historic 40,000 level on Friday with Nvidia’s earnings this week destined to test the rally.

    Two massive things happened while we were watching the budget

    While most of us were watching Treasurer Jim Chalmers’ third budget, two huge developments took place overseas that will be much more crucial in determining our future economic prosperity, writes Karen Maley.

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    MONDAY MEDIA

    Rick Baker, co-founding partner at Blackbird Ventures, laid out his issues with media coverage of the tech sector.

    Growing pains: Tougher times put VC on a collision course with media

    From rumblings of a boycott to senior technology investors complaining, Australia’s start-up and media industries aren’t as close as they used to be.

    Across print and digital, the Financial Review had 3.5 million readers in March.

    Financial Review print and digital readership jumps

    The Australian Financial Review has grown its print and digital readership for the year, while its News Corp rival The Australian went backwards.

    The duo have signed a $200 million deal to stay on the air together for another 10 years.

    ARN Media’s M&A record holds out for elusive win

    After seven months, the dream of an ARN-Southern Cross combination fell apart. But if history is any guide, M&A has been a source of unease for ARN investors.

    • Analysis
    • AI

    Google search is becoming Google answers. That is bad news for media

    In a world where AI can browse the internet and paraphrase what it sees, users may find they never click on links again. That could be a big problem for publishers.

    The researchers influencing billions in global marketing

    The Ehrenberg-Bass Institute is sponsored by The Coca-Cola Company, McDonald’s, Mars, Nestlé and PepsiCo. Its findings guide global business decisions.

    SPECIAL REPORT: WEALTH ADVICE

    Anthony Selby says lingering high interest rates mean there’s nothing wrong with bagging a 5 per cent risk-free return in cash savings.

    10 investment tips to ride out the ‘new normal’

    Given elevated interest rates and inflation are forecast to flow through financial year 2025, investors are eyeing stocks, property and gold to get ahead.

    How this Millennial plans to retire at 35

    Saving hard and opting out of the consumer lifestyle has helped these people retire decades before their parents did.

    Why I’ve got more in my super than when I retired 11 years ago

    Choosing the right financial adviser can help set strategies, achieve goals and protect wealth. Here’s how to find the right one – and how much you should pay.

    I’m a Zillennial. Is financial advice worth it for me?

    At $4700, many young Australians would think twice about taking on a financial adviser. But are there instances when it’s worth it?

    ‘I thought I had dementia’: How menopause crimps income and super

    Menopause costs women as much as $60,000 in retirement savings, according to ASFA.

    Features include the ability to save articles, dark mode and real time notifications.

    Get the latest business news on the go with the AFR’s new iOS app.

    Find out more

    Companies

    Lendlease is under pressure to refocus its efforts on its more successful Australian operations.

    Aware Super wants a new chairman at Lendlease, fast

    Lendlease’s biggest investor has called for an external candidate to replace Michael Ullmer, and urgently steer the embattled developer’s turnaround.

    Luke Smith, portfolio manager from Australian Super is taking a punt on critical minerals.

    AusSuper sets sights on becoming a global force in critical minerals

    Australia’s largest industry super fund will step up its investment in battery metal lithium as it seeks to grow its $12 billion critical minerals fund.

    Industrial entrepreneur Sanjeev Gupta runs InfraBuild and the Whyalla steelworks in Australia. InfraBuild, with 4900 staff, has complained to the Anti-Dumping Commission about Chinese imports used in steel mesh in concrete slabs.

    Sanjeev Gupta’s InfraBuild accuses Chinese rivals of bending rules

    The British industrialist’s Australian steel business wants regulators to curb Chinese suppliers of steel mesh used here in residential concrete foundations.

    ASIC chairman Joe Longo: “It’s time for meaningful improvement.”

    Lenders creating ‘unnecessary barriers’ for struggling customers: ASIC

    With living costs high, ASIC chairman Joe Longo has issued a stern report on bank hardship policies. ABA chief Anna Bligh says processes are being improved.

    Why former APRA exec Geoff Summerhayes is targeting reverse mortgages

    The product, shunned by major banks, lets retirees release equity from their homes to top up retirement income. Heartland wants to grow its $1.7b book.

    Biotech start-up raising $20m pre-IPO amid claims

    Plasma start-up Aegros has been accused of not paying suppliers and missing payroll, put is still planning on a 2025 IPO.

    Former Liberal health minister appointed to cancer biotech’s board

    Greg Hunt’s new company is developing a cure for a form of myeloma, a rare disease that begins in bone marrow.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    Tribeca’s Jun Bei Liu.

    These stocks are primed for ‘tectonic-sized’ tailwinds

    The magnificent seven are not the only way to play artificial intelligence, there’s money to be made in storage, energy and software on the ASX too, writes Jun Bei Liu.

    Scott Bessent at the 2018 Sohn Hearts and Minds investment conference.

    Ex-Soros star Scott Bessent jockeys with John Paulson to run Trump’s Treasury

    While Ken Griffin and other mega donors are focusing on Trump’s vice presidential pick, those on Wall Street are angling for a different spot in a second Trump administration.

    Wall Street.

    S&P 500 hovers near record high

    US equities gave up early gains to close mostly modestly higher. Copper, nickel and silver surge. Gold, oil also rally. $A touches US67¢.

    Nvidia bulls are selling – here’s what one fundie is buying instead

    The AI market darling is reporting earnings next week, following a jaw-dropping share price run in the last 18 months.

    BlackRock’s Rieder says rate cut would tame US inflation

    High interest rates are generating more income from fixed-income investments for well-heeled Americans, the firm’s chief investment officer says.

    Opinion

    Budget and reply add up to a bad week for Australian prosperity

    Both major parties are failing to meaningfully engage with the centrist growth agenda of incentive-sharpening policy reform and mostly disciplined macro policy that provided the foundation for Australia’s three decades of prosperity.

    The AFR View

    Editorial

    The AFR View

    Punters are not convinced by Labor’s budget

    The budget had two main political aims: to help further with the cost of living; and, in doing so, buy a pre-election interest rate cut. The punters are not convinced it will achieve either, polling finds.

    Phillip Coorey

    Political editor

    Phillip Coorey

    Dutton’s migrant crackdown treats economy with disdain

    In the populist pitch to bring down house prices, there is little recognition of the role of migrants in filling acute skills shortages across the economy.

    Jessica Gardner

    Deputy editor - News

    Jessica Gardner

    Made in Australia is just copying US and China protectionism

    Anthony Albanese has replicated the economic strategies of Donald Trump, Joe Biden and Xi Jinping. The small mercy so far is no increased tariffs on imports.

    Keeping Eraring open is about engineering not morality

    The imminent decision around when to close Australia’s biggest coal-fired power station is a watershed moment between an ideological approach to climate change and the laws of physics.

    Matthew Warren

    Energy expert

    Matthew Warren

    Gentrified mental health has undermined access for the seriously ill

    The high costs and limitations of access are unquestionably privileging the privileged.

    Tanveer Ahmed

    Columnist

    Tanveer Ahmed

    Reports

    BOSS Best Places to Work

    The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.

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    Politics

    Peter Coaldrake says university governing bodies need to be tougher on their vice-chancellors.

    Failure to rein in uni bosses led to problems of ‘excess’

    Peter Coaldrake has been deeply involved in the university sector for five decades, the past four years as head regulator. And he is troubled by what is going on.

    Liberal candidate for Wentworth Roanne “Ro” Knox.

    Meet the former Deloitte consultant taking on Allegra Spender

    “There’s no doubt it is going to be a challenge,” says Roanne Knox. It’s a sentiment echoed by party insiders who think Wentworth will be the most difficult of all teal seats to win back.

    Prime Minister Anthony Albanese and Premier Jacinta Allan at the ALP state conference.

    Victorian Labor votes to oppose Future Gas Strategy

    The state branch of the party chastised the strategy at its annual conference, labelling it “incompatible” with Australia’s emissions reduction targets and international obligations. 

    Defence Force ‘ready to fly’ to New Caledonia

    Australia is working with French authorities to ensure a quick exit for people seeking to flee strife-torn New Caledonia as soon as the Pacific island nation’s airport is reopened.

    Dutton’s immigration cuts would cost ‘billions’: Chalmers

    Peter Dutton’s plan to slash immigration to free up housing and ease population pressures would cost billions, Treasurer Jim Chalmers has warned, accusing the opposition of plucking numbers “out of the air”.

    SPONSORED

    World

    A Geely Zeekr 001 EV at the Zeekr Centre in Shanghai. The shift in the US approach towards China from engagement to full-throttle competition is no longer in doubt.

    The US-China trade war has helped polarise ASEAN

    Regardless of their alignment or dependence on one side or the other, South-East Asian states need to stay focused on their common regional interests.

    A demonstrator holds a placard calling for the release of Julian Assange outside the Royal Courts of Justice in London in March.

    High Court might rule on Assange extradition

    Two judges at the High Court in London are set to rule on whether the court is satisfied by US assurances that Julian Assange, 52, would not face the death penalty.

    Benjamin Netanyahu (left) and  Benny Gantz at the swearing-in of the war cabinet in October last year.

    Gantz tells Netanyahu: come up with a war plan in three weeks

    A popular centrist member of Israel’s three-member war cabinet threatens to resign if the government doesn’t adopt a new plan in three weeks for war in Gaza.

    Trump pledges to be gun owners’ most ardent ally

    The former president accepted the endorsement of the National Rifle Association, claiming that the right to bear arms was “under siege” by the Biden administration.

    Biden’s Atlanta trip highlights duel with Trump for black voters

    While overwhelming support from black voters was key to Joe Biden’s 2020 victory, there’s concern among his supporters that Donald Trump is making inroads.

    Property

    Premium properties are being hotly contested in Sydney’s inner west.

    Glebe bungalow leapfrogs guide by $1.2m as clearance rates soften

    While competition for premium properties remains strong, on-the-fence buyers are stepping back as hopes of a looming rate cut fade.

    Surgeon hopes to double suburb record with $18m waterfront castle

    On Sydney’s Lower North Shore, a regal waterside property has joined the market guiding $18 million.

    Dexus is attempting to block Kevin Seymour’s eight-tower precinct (pictured), alleging it would take business away its own shopping centre down the road.

    Mall war: Kevin Seymour accuses Dexus of anticompetitive conduct

    The Rich Lister is accusing Dexus of acting anti-competitively for blocking his proposed Brisbane precinct to protect its own retail asset down the road.

    Why this $103m office on Sydney CBD fringe sold at no discount

    Listed property fund manager Centuria has sold its Biomedical Building to Kurraba Group for $103 million.

    Wagga sheep farm of Fraser-era minister Wal Fife listed for $30m

    The 2000 hectares Gundary was owned by the late politician until his death in 2017. Mr Fife served in the NSW and federal parliaments for over 35 years.

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    Wealth

    Australian Retirement Trust’s head of retirement Kathy Vincent and head of advice Anne Fuchs are overseeing significant staffing and technological changes as they prepare for new laws to take force.

    Super funds spend big ahead of advice reforms

    As the legislation enabling them to give more financial advice languishes in Canberra, funds are moving ahead with plans to implement it anyway.

    This routine health test is an investment opportunity

    The share prices of pathology companies are below pre-pandemic levels and the world will need more blood tests.

    The $150b club: Record number of super rich

    The combined net worth of the world’s super-rich club is up 13 per cent this year to $3.3 trillion, according to the Bloomberg Billionaires Index.

    Technology

    Medicare numbers were taken as part of the hack, but they cannot be used to prove someone’s identity.

    Medicare numbers, prescription information taken in MediSecure hack

    The government has reassured Australians that no documents need to be replaced as a result of the hack on the little-known technology company.

    Online music platform Melodie banks $1m funding

    The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.

    Children allowed screen time during breakfast, lunch or dinner are 15 per cent more likely to be overweight.

    Children glued to their phones at meal time face obesity risk

    Experts say letting youngsters scroll social media, watch videos or eat in front of the TV is “dangerous” and may be fuelling a growing obesity epidemic.

    Work & Careers

    ACCI says “flexibility and choice” must be core to the right to disconnect.

    Employers back worker ‘choice’ in right to disconnect battle

    The Australian Chamber of Commerce and Industry has warned against strict rights to disconnect in awards, saying it could affect enthusiastic staff.

    Failure to rein in uni bosses led to problems of ‘excess’

    Peter Coaldrake has been deeply involved in the university sector for five decades, the past four years as head regulator. And he is troubled by what is going on.

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    Life & Luxury

    Capella Tufu Bay in Hainan has 190 spacious rooms.

    Where to find the best five-star luxury hotel deals

    So you’ve splashed out on airfares, but you still have to book the accommodation for your next holiday. Here’s how to get the most bang from your remaining bucks.

    1984 Peaches ’N Cream Barbie. Barbie, the Design Museum, London.

    From Barbie to Warhol, the must-visit major cultural exhibitions

    Toting a briefcase around the world’s financial capitals can be exhausting. Galleries and museums offer a sanctuary and stimulation for the business traveller.

    Beth Sanner: “If you … start influencing policy more than informing it, then it’s a slippery slope.”

    ‘We don’t know the truth’, says senior CIA officer

    Beth Sanner was Donald Trump’s daily intelligence briefer for two years. Few people know the boundaries between secrecy and democracy so well.

    Xander Schauffele hits from the fairway on the eighth hole during the first round of the PGA Championship.

    Sizzling Schauffele grabs early PGA Championship lead

    Not even the two hottest golfers on the planet, world number one Scottie Scheffler and number two Rory McIlroy, could muster a challenge to Xander Schauffele.

    Think you know this week’s news? Answer these 10 questions

    Have you been paying attention this week? Test your knowledge across politics, business and world news.

    From the gallery