If your business is turning inspiration into innovation, it’s time to be recognised.
- Opinion
- Chanticleer
The ‘astonishing’ number in NAB’s profit
There’s a very good reason why new boss Andrew Irvine won’t change the bank’s strategy too much.
Woolworths’ outgoing CEO warns tough times will last a year
Supermarket sales grew only 1.5 per cent in the March quarter as rival Coles managed 5.1 per cent, and Brad Banducci says shoppers will keep cutting back.
- Opinion
- Chanticleer
Investors aren’t falling for Powell’s ‘confidence’ trick
The Fed chairman has made it clear the bar for a rate rise is very high. But while he hasn’t lost faith in disinflation, rate cuts are moving further away, too.
- Live
- Markets Live
Shares rise; Afterpay-owner Block sinks on regulatory investigation
NAB declares flat dividend. Woolworths says food prices largely flat, shares sink. Takeover target Namoi Cotton jumps. Fed chairman says rate rise unlikely. Bitcoin sinks. Follow here.
- Live
- Need to Know
Clubs and pubs ‘deeply concerned’ over major data breach
Cyber authorities are investigating a potential data breach affecting more than one million patrons at Clubs NSW, Merivale; Prime Minister Anthony Albanese has promised further action against domestic violence.
Ransomware group claims attack on valuer HTW but not following pattern
In a post on the dark web, Black Suit says it has obtained 20 gigabytes of the valuation firm’s customer and transaction data.
- Exclusive
- Workplace
More Australians go above and beyond duty amid job fears
Discretionary effort has hit a four-year-high as workers try to protect themselves from being made redundant, according to global consultancy Gartner.
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Companies
Ex-Macquarie banker who banked on premium gin hits payday
George Georgiadis left finance to build a gin business with two mates eight years ago. They’ve hit payday with a buyout by Asahi.
Karoon chairman in activists’ firing line over pay
Sandon wrote to chairman Peter Botten on Wednesday arguing that Karoon’s incentive structure had insufficient regard for shareholder value.
Bonza administrator still looking for new backers
Bonza’s move to enter voluntary administration is a “sad time for aviation and major blow for competition”, says the main body representing Australia’s network of airports.
- Exclusive
- Payments
Airwallex’s local outpost reverses to loss
The local outpost of one of Australia’s largest technology start-ups tripped to a deep loss after a big increase in costs.
MinRes in row over lithium processing hub
Poseidon Nickel, worth $22 million, has mounted a David versus Goliath legal battle with $14.1 billion MinRes over assets in the Western Australian Goldfields.
Bruce Lehrmann given extension to appeal but will be forced to pay
The former Liberal staffer has appointed barrister Guy Reynolds, SC, to review his case. He has until May 31 to lodge an appeal.
Qantas says app now stable, still investigating malfunction
The Flying Kangaroo is investigating a system malfunction that gives passengers access to other Qantas customers’ data.
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Markets
Powell signals rates will stay higher for longer
The Federal Reserve has kept rates unchanged but chairman Jerome Powell said inflation was still too high despite “sufficiently restrictive” policy.
What happened overnight? Powell said a rate increase was ‘unlikely’ as Fed held
Australian shares were expected to rise after the Federal Reserve kept interest rates unchanged.
- Opinion
- Chanticleer
Down markets draw out the year’s biggest share trades
Big block trades are flying this week, which only ramps up the chase for the next big trade.
AVZ flags delisting, shareholders face $2.8 billion wealth wipeout
The lithium explorer will delist on May 13 as more than 21,000 shareholders remain trapped in a company that joined the S&P/ASX 200 in 2022.
- Opinion
- Interest rates
Are we returning to the late ’90s high interest rate era?
I’m starting to wonder whether high interest rates might last a lot longer than many people, including me, have been predicting.
Opinion
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
Powell bristles at election influence on rate cuts
The Federal Reserve chairman has taken umbrage at suggestions monetary policy decisions will be influenced by the US presidential election.
United States correspondent
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
Chalmers came to Sydney, left his humility in Canberra
The treasurer promotes the national security benefits of protectionism, but can’t explain how his government can find better investments than the private sector.
Senior correspondent
Chalmers’ recipe for friendly foreign investment ignores the basics
The treasurer has a grand new take on industrial policy, but there’s little evidence of the reforms that international investors seek.
Columnist
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.
Contributor
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
Chinese investment critical to reach net-zero goals
Clean energy experts warn moves that limit Chinese investment in Australia could undermine the Albanese government’s green energy goals.
- Exclusive
- Foreign relations
‘No concerns’ with South Korean takeover bid for Austal: Marles
Defence Minister Richard Marles has given a fillip to Hanwha’s bid to buy Perth shipbuilder Austal, despite the deal raising security concerns.
Sims, Harris soften stance on Made in Australia Act
Two critics of the government’s Future Made In Australia Act have softened their views after Treasurer Jim Chalmers outlined five criteria for support.
Wong warns on foreign interference after Indian spies expelled
Revelations Indian spies were asked to leave Australia in 2020 suggest Western intelligence agencies are unhappy about New Delhi’s espionage tactics.
How three female economists would fix the housing crisis
An economic adviser to the government has suggested a “quick win” to encourage older Australians to downsize and free up housing for younger families.
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World
Violent clashes at UCLA, police storm Columbia Uni
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.
Why Indian workers head to war zones, from Israel to Russia
The promise of well-paid jobs is too strong a lure to resist, despite the lack of protection from their home government and those they work under.
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.
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.
Property
FIRB changes are fine but please fix tax: investors
Changes to the foreign investment regime to boost investment in rental housing may count for little if tax settings remain a handbrake.
Crown Group’s divorce nears finish as assets get divvied up
Since liquidators were appointed to Crown Group, the founders have bought assets from each other while selling unfinished projects to repay lenders.
John Symond set to break Australia’s property record with $200m sale
The Aussie Home Loans founder’s just-listed Point Piper mansion, Wingadal, is expected to become the nation’s most expensive deal when it sells.
Developers bet on long-term tourism boom with new hotels
Developers have struck agreements with IHG, Hilton and Accor to operate new hotels in Brisbane, Townsville and Launceston as occupancy rates rise.
Qantas Super puts $200m into farms backed by Costa family
The superannuation fund will invest most of the money in two horticultural aggregations that will be expanded by Costa family-backed investment manager goFARM.
Wealth
What every buyer needs to know about auction clearance rates
The widely followed metric is often seized upon for clues over the direction of the market, but isn’t always a good indicator of 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.
Should we pay off our mortgage or keep it for a line of credit?
A line of credit can serve as a financial lifeline – the trick is to know when to let go.
Technology
Don’t swat fruit flies – you could hurt their feelings
Researchers say many species, from insects to invertebrates, have consciousness. It turns out humans aren’t so special, after all.
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.
‘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.
Work & Careers
Uber’s new retail boss has a plan to shake up groceries in Australia
Susan Anderson says online penetration for the $130 billion Australian grocery sector is still low. She predicts a big step change within the next few years.
Court intervenes as workers clash during CFMEU strike
The builder of Queensland’s biggest infrastructure project has won urgent orders to stop the union’s alleged unlawful behaviour after footage emerged of brawls and punch-ups between construction workers.
Life & Luxury
This CEO owns six bikes, and has his eye on another – worth $24k
Pointerra3D boss Ian Olson knows his family has good reason to lament the lack of space in the garage. But cycling is a big part of his life.
How did $1370 knickers become the world’s third-hottest fashion item?
Miu Miu’s unlikely nylon briefs are a highly coveted piece of clothing right now. A closer look at the brand’s strategies shows why that’s not so surprising.
Six podcasts that will help you cope with stress
At a time of unsettling news at home and abroad, these shows offer tips and first-person accounts to alleviate a spiralling sense of unease.
Why this actress is now the chief Gen Z torchbearer of cool
Zendaya’s films have earned $US2.6 billion so far, making the 27-year-old former Disney star a multimillionaire – and a social media favourite.
- Drinks With Max Allen
- Wine & spirits
Drinking alone? Here’s how to keep it interesting
Finishing the same bottle off over a few evenings can get a little dull. An Australian company has come up with an innovative alternative.