If your business is turning inspiration into innovation, it’s time to be recognised.
Macquarie profits fall 32pc as commodities, green investments weigh
Big dips in the investment bank’s asset management and commodities divisions failed to match the better performance in its banking and capital markets arms.
Buy now pay later surges as Dorsey realises Cash App vision
Buy now, pay later volumes are surging as Afterpay is rolled into Cash App which has 24 million active users in the US.
Biden says ‘order must prevail’ as US college arrests hit 2000
The US president has broken his silence, calling for order on college campuses where protests against Israel’s war are escalating and some have turned violent.
- Live
- Need to Know
More congestion, more profit: Ex-CEO spills on new Rozelle Interchange
Ex-NSW roads executives say the interchange created irreversible congestion. NSW to deliver emergency domestic violence package. Follow for more.
- Exclusive
- Hotels
Adgemis, fighting fires, now has the Tax Office at his door
The Tax Office is knocking on the door of Jon Adgemis’ embattled pub group for more than $10 million as the former KPMG rainmaker attempts to save his empire.
- Live
- Markets Live
Shares rise; Afterpay-owner Block surges, cranks bitcoin ambitions
Miners, tech lift shares 0.4pc. Macquarie falls. New car sales hit record in April. Afterpay grows sales 25pc. Apple lifts dividend, buyback to record $US110b. Follow here.
- Opinion
- Currencies
The two big threats haunting global sharemarkets
Investors appear to have moved on from the news that US interest rates will be higher for longer, but analysts warn of two lurking dangers that risk puncturing their optimism, writes Karen Maley.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
review
How to get a meeting with the UAE’s $2.3 trillion man
Deals with hard-to-reach decision maker Sheikh Tahnoon bin Zayed Al Nahyan are often built on years of relationships with one of his network of gatekeepers.
- Opinion
- Workplace
Business school blather can’t beat real-world CEO know-how
What’s needed is a new management theory that avoids the deceptive certainties of neoliberalism and the equally deceptive vagaries of stakeholder capitalism.
What will central banks do in a cashless world?
The development puts new pressure on such institutions to reimagine their role and become more innovative.
There hasn’t been a series this complex – and funny – in a long time
One of the bigger gags in this Vietnam War tale, is the casting of Robert Downey jnr in several make-up-heavy roles.
Our world is already ravaged by nuclear war
Annie Jacobsen’s new book, written in the style of a techno-thriller, sets out what might happen if that fateful button is pushed.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Bonza directors say they were blindsided by lease cancellation
The airline laid off staff and extended its flying outage to Tuesday because it can’t find planes.
Wesfarmers flaunts its growth record, hopeful of lithium fortune
From hardware giant Bunnings and retailer Kmart, to the emerging lithium business and health unit, Mr Scott says Wesfarmers is well-placed amid a slower economic environment.
Tax Office investigating Lachlan Murdoch’s Nova radio assets
The parent of SmoothFM revealed it is under an ATO microscope, hauling in PwC for tax compliance services.
‘Consumers pulling back’: Bapcor in $500m wipeout
Shares in Bapcor, which runs 1100 stores under the Autobarn, Autopro and Burson banners, tumbled as much as 35 per cent after a hefty profit downgrade.
- Updated
- Earnings season
NAB clings to business banking prize as mortgage brokers bite
National Australia Bank’s first-half profit tumble underlined the toll intense mortgage competition is still claiming on margins.
Woolworths faces widening gulf with Coles in sales stakes
Brad Banducci, the departing chief executive of supermarket giant Woolworths, is losing the battle with arch-rival Coles as he prepares to bow out in September.
Rio Tinto chairman quiet on Anglo bid, eyes copper profits
Dominic Barton would not comment on whether the company was considering making a rival bid for Anglo American.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Apple’s shares rally after return to sales growth forecast
The tech giant announced $US110 billion in share buybacks and raised the quarterly dividend by 4 per cent.
Carvana father-son duo make $16.7b in 3000pc stock rebound
Shares of the Phoenix-based online used-car dealer have surged from historic lows, but the company still faces challenges.
Markets cheer after Fed chief rules out rate increases
Traders have ramped up US rate cut bets this year after the Federal Reserve kept interest rates on hold, but the prospect of higher rates in Australia this year is still on the cards.
What happened overnight? Traders turned to key US jobs data
Australian shares were set to rise as tech stocks drove higher before Apple’s earnings. Traders were also gearing up for the US jobs report tonight.
Blackstone taps vast source of cash in $1.5trn credit push
Blackstone has been eagerly driving the expansion of the booming multi-trillion dollar private-debt markets. And it’s paying off.
Opinion
Bonza’s grounding strands airline competition too
Had the government dealt with some of the highly public problems of aviation with more alacrity than it has, the failure of one small player would not have seemed such a blow.
Editorial
BHP is betting self-interest trumps politics on Anglo American
Convincing South Africa’s government its $60 billion takeover bid for the mining multinational is politically palatable is part of BHP’s challenge in a particularly complex deal.
Columnist
Chalmers’ ‘new growth model’ lacking on the supply side
Jim Chalmers is right to say that Australia cannot draw an “artificial distinction between our prosperity and our security”. It has been a theme of The Australian Financial Review’s since our 2022 Business Summit.
Editorial
Labor election plans start blowing smoke
Labor is banking on at least one rate cut before calling an election. That scenario is no longer guaranteed.
Political editor
The US presidential election is casting a long shadow over the Fed
Lingering inflation has caused hopes for US interest rate cuts to wither. That means the Federal Reserve risks becoming dragged into a divisive election.
Columnist
No safe spaces for Jewish students at universities
Vice chancellors say what’s happening on campuses here is a million miles away from what’s happening in the US. That’s a statement of wishful thinking – not reality.
Columnist
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
OECD warns sticky inflation means rates higher for longer
The warning came as CEOs deliver upbeat assessment of the economy and financial markets push out expectations for rate cuts to May or June 2025, potentially after the next federal election.
PM, Chalmers mull go-it-alone power price discounts
The Albanese government is considering a second round of power bill discounts, on top of $1000-per-household credits promised by the Queensland government.
- Exclusive
- Defence
Hanwha could face long wait for answer on Austal bid
The Albanese government is likely to prioritise picking a new frigate design over considering a foreign takeover bid for the Perth shipbuilder.
Blow to China’s bid to join trade pact
New Productivity Commission modelling has found there would be little economic benefit to Australia if China was admitted to the trans-Pacific free trade deal.
Housing focus as Pallas warns of horror Victorian budget
Economists warn that Victoria has no choice but to cut spending in next week’s budget, after slugging businesses and property investors last year.
SPONSORED
World
- Analysis
- UK politics
Angry, broken Britain set to push its PM off a cliff
If Rishi Sunak can’t prevent a complete hammering at 100-plus mayoral and council elections, his party might kick off yet another leadership spill.
Philippines summons Beijing envoy in South China Sea flare-up
The Philippines has accused China of elevating tensions in the South China Sea after its coast guard used water cannon and damaged two vessels.
Peloton crashes to record low as CEO quits amid lay-offs
The interactive exercise bike company was a pandemic superstar but is now struggling heavily and laying off 15 per cent of the workforce.
New Solomons PM still close to China, but more diplomatic
Despite being foreign minister for almost five years, Jeremiah Manele is unlikely to strictly follow the pro-China policy of his predecessor, according to some.
OECD upgrades global growth outlook as US outperforms
A faster-than-expected fall in inflation has set the stage for central banks to begin rate cuts in the second half of the year, boosting consumers’ incomes, according to the OECD.
Property
Former treasurer Josh Frydenberg lists family home
Former treasurer Josh Frydenberg and his lawyer wife Amie have listed their family home in Melbourne’s Hawthorn.
$10b housing fund should be doubled, community providers say
The massive response to the federal government’s first tender to develop affordable and social rental housing shows more funding is needed, developers say.
Ransomware group claims attack on valuer HTW
In a post on the dark web, Black Suit says it has obtained 20 gigabytes of the valuation firm’s customer and transaction data.
A housing boom is coming – for the wealthy
Investors, downsizers and upgraders will drive the next wave of residential development. First home buyers will hardly get a look in.
Singapore’s offices await a new wave of tenants
An eight-year cycle in which the tech industry provided demand for working space is coming to an end. Landlords don’t know who their next tenants will be.
Wealth
Why long-distance property investing might be for you
Investors from Sydney and Melbourne are increasingly looking further afield in the hunt for value. But how do you go about buying in an unfamiliar market?
What every buyer needs to know about auction clearance rates
Auction clearance rates give some clues about when to buy or sell.
- Opinion
- Flat Chat
There’s more trouble coming for apartment owners. Here’s why
The Netstrata insurance scandal rocked the strata management industry in NSW, but that’s just the beginning as an independent inquiry starts to dig deeper.
Technology
‘Country mile ahead’: How PsiQuantum won a $1b investment
Chief scientist Cathy Foley said US-based PsiQuantum showed it was a “country mile” ahead of other Aussie companies in trying to build a world-first quantum computer.
Amazon posts strong cloud unit sales on rising AI demand
The e-commerce company’s operating income more than tripled as Amazon Web Services and adverts provided a boost.
Don’t swat fruit flies – they’re smarter than you probably think
Researchers say many species, from insects to invertebrates, have consciousness. It turns out humans aren’t so special, after all.
Work & Careers
Why Kogan refuses to buy into market fears about his new strategy
BOSS sat down with Kogan.com founder Ruslan Kogan just as his share price collapsed by 30 per cent.
It’s not what you do but who you are: gender pay gap myths busted
The gender pay gap is not explained by women’s career choices, or that they work part-time. They just get paid less than men, a new study has found.
Life & Luxury
The nine things every man needs to know about prostate cancer now
Experts at the cutting edge of new research into the causes and treatments answer the questions you might be afraid to ask.
‘I loved’ my old accounting job – surprise confession from opera star
Baritone Teddy Tahu Rhodes is nostalgic about his days working with spreadsheets before he quit the world of finance to fulfil his musical ambitions.
Inside the fight for smartphone-free childhoods
A rising number of parents around the world, who have become addicted to handheld devices themselves, want to ban under-16s from having them.
The best Mother’s Day gadget gifts – ranked by price
How much do I love you? Let me count the dollars. This year’s guide doubles as a handy reckoner, revealing how you feel about the matriarch in your life.
The ex-financier and his father blowing fresh life into Murano glass
Christian and Maurizio Mussati started WonderGlass to make lighting – even furniture – in tandem with some of the world’s most exciting contemporary designers.
