If your business is turning inspiration into innovation, it’s time to be recognised.
- Opinion
- Chanticleer
Deal makers deeply sceptical about Chalmers’ FIRB reboot
While a clearer approval path for foreign buyers who are “frequent flyers” has been welcomed, bankers and lawyers worry the devil is in the detail.
- Live
- Markets Live
ASX drops over 1pc; WiseTech, Qantas shares down
Shares decline after US data spooks Wall Street; Rabobank expects two RBA rises this year; Qantas app breached, airline investigating cause; Woolworths sells stake in Endeavour for $468 million. Follow here for more
- Analysis
- Mergers & acquisitions
How BHP’s ‘Meticulous Mike’ prepared for Anglo American rebuff
Dubbed “Meticulous Mike” by the Australian media, the Canadian executive must have carefully planned his move for Anglo, down to the inevitable initial rejection.
‘Clearing it out’: New York police storm Columbia University
Police moved in to arrest pro-Palestinian protesters at the Ivy League university, which has been struggling to balance freedom of speech with antisemitism concerns.
- Live
- Need to Know
PM commits $925m to action on domestic violence
Anthony Albanese says the budget will include $925 million for victims of domestic violence; Jim Chalmers waters down surplus expectations; Trump threatened with jail. Follow updates here.
Qantas app breached, airline investigating cause
The Flying Kangaroo is investigating a system malfunction that gives passengers access to other Qantas customers’ data.
- Opinion
- Chanticleer
Star’s anatomy of a CEO sacking reveals what goes on in boardrooms
“There is a narrative to behind every departure,” former Star boss Robbie Cooke says. Unfortunately for Cooke, we’ve been given a rare glimpse into his.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
best places to work
This company pays you for your commute with extra days off
This fintech has taken a different approach to getting people back into the office and the results are paying dividends for diversity, too.
How a weekly Shark Tank challenge turned The Royals family around
Suffering high turnover and low engagement, creative agency The Royals decided to carve out a day each week dedicated to one pitch. It worked.
- Analysis
- Best places to work
How we picked the award winners
The AFR BOSS Best Places to Work ranks the best workplaces in Australia and New Zealand across nine different industries.
- Opinion
- Best places to work
Employees want more autonomy, so it’s in bosses’ interest to listen
Convinced that happier workers are also more productive, Australia’s most progressive employers are giving staff greater freedom and choice.
How these firms retained staff by helping them grow
Boutique management consultancy Grosvenor has won the professional services category of the 2024 AFR Best Places to Work list.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Woolworths shareholders to pocket proceeds from Endeavour sale
The supermarket giant offloaded a 5 per cent stake in the owner of Dan Murphy’s, realising $468 million for its shares.
‘The future is the future’: Anglo American won’t rule out a merger
Chairman Stuart Chambers told the miner’s AGM that his job in coming weeks was to see if major shareholders backed the board’s rejection of BHP’s $60 billion bid.
ASIC chairman ‘very disturbed’ about CBA’s bonus move
Joe Longo said he had raised concerns about CBA’s breach of bonus caps directly with the bank’s chairman Paul O’Malley and urged the bank to reconsider.
- Exclusive
- Big four
Westpac’s Yetton targets ‘right returns’ over mortgage wars
The consumer bank chief also also promises to extend a moratorium on regional branch closures until 2027.
Downer EDI and council workers were ‘seriously corrupt,’ ICAC finds
Former employees of Downer EDI were corrupt on transport projects and the company did not always comply with rules dealing with subcontractors, investigators found.
Bapcor CEO-elect quits two days before taking job
Paul Dumbrell has pulled out of taking the top job as investors brace for a profit downgrade and one of the founders lashes out at the board.
Kean questions need for Eraring bailout
It will be the “NSW government”, not the renewables sector, that faces the music if sluggish wind, solar and transmission rollout leads to blackouts.
Companies in the News
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Markets
ASX uranium boom lures secretive Canadian hedge fund
A flurry of retail interest and quick capital raisings in the sector has drawn the increasing attention of one Toronto-based hedge fund.
BHP Anglo deal could create headache for ASX investors
The mining giant is already one of the largest companies on the ASX 200. A successful buyout bid of Anglo American could add to the heavy concentration of resource stocks on the index.
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.
What happened overnight? Hot US labour data sank Wall Street, oil fell
Australian shares were set to fall after US stocks took a sharp turn towards a monthly loss on hotter than expected employment cost figures.
European economy rebounds, but June rate cut still on the cards
The bounceback has not triggered inflation, creating space for the European Central Bank to start easing the squeeze before the US Federal Reserve.
Opinion
Quantum a better bet than burning a billion on solar panels
But even if this is the right place to deploy such a huge sum, we know too little about whether this was the best way to spend it.
Editorial
Labor’s reforms will de-risk foreign investment
The overhaul in the budget will strengthen the review framework where we need to, streamline it where we can, and make it more transparent, writes Jim Chalmers.
Federal treasurer
Labor green lights toxic bully-boys of the CFMEU
The political protection racket the modern ALP is running for the toxic behaviour of the CFMEU, which would be condemned in any other setting, is disgraceful.
Editorial
Why Australia can’t build enough new homes
The nation’s housing ambitions are way off target. That means the price of new homes and rentals will continue to climb, compounded by still high immigration numbers.
Columnist
Are we about to witness a rerun of the Asian financial crisis?
Investors are becoming increasingly alarmed as the buoyant US economy and high US interest rates risk triggering renewed instability throughout the Asian region, writes Karen Maley.
Columnist
Magic debt thinking collides with inflation and higher rates
Since the GFC, economists have suggested that using debt to finance government spending is a free lunch. But the tide has turned in the past two years.
Columnist
Politics
Global crises making it hard for ethical investors: Gareth Evans
The former foreign minister nominated Israel’s “disproportionate” response to the Hamas attacks and Narendra Modi’s leadership of India as challenges for investors.
New gas supplies ‘needed’ says Bowen as Gippsland wind takes off
Energy Minister Chris Bowen believes Australia has no option but to seek new supplies of gas even as he green-lights six potential offshore Gippsland wind projects.
Bail rules and offender tracking to lead national cabinet talks
High-risk violent offenders face closer tracking in the community, part of a push by state premiers for tough and immediate new responses to domestic violence.
Investors trim rate rise bets as retail sales growth hits 2½-year low
Annual growth in retail sales has fallen to its lowest level since the pandemic as cash-strapped households tighten their belts.
Budget surplus of $13b tipped, but Labor needs a ‘credible’ plan
It could be the second consecutive surplus for Labor and the first time that has happened in almost 20 years. But the longer-term outlook is increasingly bleak.
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World
Trump threatened with jail, fined for contempt of court
The former president was ordered to pay the fine by the end of the week, and he deleted, as ordered, the offending posts from his Truth Social account.
Moguls circle as Telegraph, Spectator go up for sale again
Rupert Murdoch could launch a bid for the Spectator magazine, after an Abu Dhabi-backed consortium threw in the towel.
Tesla fires Supercharger team, raising doubts about expansion
The abrupt dismissal of the Supercharger team caught many people off-guard, and suggested that Elon Musk had changed his mind about the company’s strategy.
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.
The Spanish family who netted $18.5b from a beauty IPO
Members of the Puig family, who made their fortune in perfume and cosmetics, are billions of dollars richer after Europe’s biggest listing this year.
Property
‘Bullet-proof’ house prices to keep rising despite higher rates
Chronic housing supply shortage would shield prices from sharp downturn if interest rates increase further, or stay higher for longer, experts say.
Lendlease needs ‘wholesale change’ now: Allan Gray boss
Allan Gray boss Simon Mawhinney says change that would restore shareholder confidence in the property developer should come immediately.
- Exclusive
- Hotels
New Pullman to breathe life into Launceston’s ‘old’ hotel scene
The 139-room hotel will form part of the repurposing of the 1930s TAFE building overlooking Launceston by developer Red Panda.
How supermarket shoppers became part of a $3.8b gold rush
As supermarkets hunt for new sources of revenues in an age of rising costs and narrowing margins, they have stumbled on one of their most valuable assets: data.
Another 10pc fall tipped for office tower values before bottoming
CBD office tower values have been battered by the shift to remote and flexible work, uncertain business conditions and high rates.
Wealth
- Opinion
- Melbourne house prices
Melbourne property market is due for a comeback
Oxford Economics predicts the median Melbourne house price will grow 21 per cent over the next three years, outpacing Sydney’s forecast 18 per cent expected growth.
We retired overseas but came back. What should we do with our money?
This couple may not be able to reopen their super accounts, but there are other tax-effective opportunities.
- Opinion
- Investing
How to sleep easy with your investment decisions
If your portfolio is inconsistent with your risk tolerance, you’re more likely to lose sleep and make poor decisions driven by emotions.
Technology
Amazon posts strong cloud unit sales on rising AI demand
Despite the strong cloud performance, the sales forecast for the current quarter fell short of estimates, reflecting concern about the main e-commerce business.
‘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.
- Analysis
- Quantum Computing
Quantum computing explained and what’s different about PsiQuantum
The Australian-invented machine uses light particles, which could be a fast way to build a quantum computer but might use too much power.
Work & Careers
Australia named top destination in the world for expats
Australia has been named the No.1 destination in the world for professionals seeking to relocate internationally.
Pioneering CEO reveals the truth about four-day work weeks
Workplace consultancy Inventium was the first company in Australia to adopt a four-day week, but more than three years later it is not on track to hit its targets.
Life & Luxury
Adults become lonelier from age 50, say scientists
An analysis of nine long-term studies of nearly 130,000 people from Western countries found a striking “U-shaped” pattern of loneliness throughout life.
How this founder built a $7.7b fortune by banning kids
Torstein Hagen created Viking Cruises with a focus on wealthy holiday makers travelling without kids. It’s now set to bring him a fortune.
There hasn’t been a series this complex – and funny – in a long time
Dichotomies and seeing things from both sides are at the heart of “The Sympathizer”, an adaptation of Viet Thanh Nguyen’s Pulitzer Prize-winning 2015 novel.
The style I stole from my mum
To celebrate Mother’s Day, Life & Leisure quizzed three duos on how they found their personal look.
TikTok and cost-of-living crisis reignite a mega ’80s style trend
Just because you like a colour, doesn’t mean it likes you. Yes, “getting your colours done” is the new fashion hack for buying smart, not more.
