- 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.
Bonza in crisis after planes repossessed
Bonza has appointed a voluntary administrator to run the discount regional airline after the company behind its aircraft provider repossessed its planes in Australia leaving thousands of passengers stranded on Tuesday.
- Opinion
- Chanticleer
The politician who’s answered ANZ’s rallying call on bank rules
Liberal Senator Andrew Bragg has backed Shayne Elliott’s view that bank rules are restricting economic growth and making it harder for first home buyers to get into the market.
White-collar crime goes unpoliced due to lack of funds: ASIC boss
“We would welcome additional funding and … there are matters we would like to run now we don’t,” ASIC chairman Joe Longo told a Senate committee.
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.
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.
- Opinion
- Israeli-Palestinian conflict
Israel has a fateful choice to make: Rafah or Riyadh?
If Israel ends up with an indefinite occupation of both Gaza and the West Bank, it would be a toxic military, economic and moral overstretch that would delight Iran.
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tuesday tech
Labor’s bold $1b bet on Aussie quantum start-up
Australia will invest $940 million in Silicon Valley start-up PsiQuantum in a major bet that it will build the world’s first commercially useful 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.
- Exclusive
- Start-ups
Aussie tech pushes into China, Taiwan despite geopolitical risks
Canva co-founder Cliff Obrecht has warned start-ups China should not be their first market but says it has massive rewards for companies that can make it there.
- Opinion
- Quantum Computing
A bold quantum leap to cross the ‘valley of death’
Historically, Australia sprints out ahead of the global pack during the research phase, but fails to commercialise innovations. That’s why the utility-scale quantum computer announcement represents such refreshing bet, writes Amit Singh.
- Exclusive
- Electric vehicles
Controversial SPAC listing hobbled Tritium
The charging company’s leaders were preparing for a potential collapse before Christmas as it failed to get state government cash.
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Companies
Coles wants suppliers’ help in cutting prices as shoppers seek deals
The supermarket chain’s sales rose 5.1 per cent in the third quarter but liquor sales fell as consumers cut spending by looking for cheaper alcohol options.
Ex-SFE boss warns ASX a threat to financial stability
Former SFE boss Les Hosking says ASX is a ‘single point of failure risk’ threatening financial stability. Joe Longo says he’s ready to act.
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.
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.
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.
- Opinion
- Chanticleer
Coles has a bit of a booze problem
While Coles’ supermarket sales are holding up well, a shock drop in its liquor division tells a story about the growing pain of interest rates.
ASIC sues Magnis Energy over ‘parlous’ battery factory
The regulator is suing Magnis Energy and chairman Frank Poullas in Federal Court for misleading investors over the “parlous state” of its battery factory.
Companies in the News
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Markets
CBA tips one rate cut this year as retail sales ease fears of a rise
Last week’s hot inflation data reignited the prospect of further rate increases, but Tuesday’s weak retail sales numbers have traders walking back those expectations.
China’s factory activity slows, denting recovery
China’s factory activity expanded for a second consecutive month in April, but at a slower pace, suggesting its vast manufacturing sector might have lost steam.
ASX closes up; worst day for Worley since 2021
Shares firm; retail sales disappoint; $A slips; Sidara sale sinks Worley; BHP confirms $38b settlement; Origin gas revenue falls; Coles sales up.
Why now is the time for Aussies to book a flight to Tokyo
The Australian dollar hit a near-decade high against its Japanese counterpart. But history shows such gains could quickly reverse.
China’s gold buying spree raises fears for Taiwan
China has now been buying gold steadily since October 2022, marking its longest build-up of the precious metal since at least 2000.
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 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
Battered from all sides, China needs new solutions
Mindful of the inspiration deficit that ultimately brought the East Asian growth miracle crashing down, Chinese policymakers must seize the moment.
Asia watcher
Politics
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.
Rein in states’ spending to help RBA, Chalmers told
Governments are on track to loosen their budgets by $50 billion in the middle of an inflation crisis and rising interest rates.
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.
White-collar crime goes unpoliced due to lack of funds: ASIC boss
“We would welcome additional funding and … there are matters we would like to run now we don’t,” ASIC chairman Joe Longo told a Senate committee.
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World
China’s gold buying spree raises fears for Taiwan
China has now been buying gold steadily since October 2022, marking its longest build-up of the precious metal since at least 2000.
Chinese influence lingers in Solomons despite Sogavare ouster
The new Solomon Islands government is not expected to be as overtly hostile to Australia after Manasseh Sogavare declared he will not recontest the prime ministership.
BHP’s rivals for Anglo American set to emerge
The UK-listed miner has rejected an approach from BHP, but other major miners including Rio Tinto could announce a competing bid.
China’s factory activity slows, denting recovery
China’s factory activity expanded for a second consecutive month in April, but at a slower pace, suggesting its vast manufacturing sector might have lost steam.
Private equity vs billionaires: Fight for Ten owner claims first scalp
Bob Bakish has stepped down as CEO of Paramount Global, the owner of Network Ten. With an ownership battle raging abroad, its Australian managers must watch on.
Property
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.
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.
Stockland says interest rates key to further market improvement
The country’s largest listed diversified developer said sales picked up in the March quarter, but lower borrowing costs were needed for the housing market to pick up.
WeWork cuts new restructuring deal that spurns Adam Neumann
If approved, a restructuring deal will allow the fallen co-working giant exit bankruptcy with less debt and a leaner, less expensive lease portfolio.
Wealth
I lost $2.5m of my super to scammers
Five victims outline how their funds were taken by sophisticated impersonation fraudsters and why they feel abandoned by their banks.
Why it’s worth selling your investment property before you retire
Making the most of higher superannuation caps can boost your retirement coffers just when you need it the most.
Why more Australians are choosing semi-retirement
Fusing the parts of work you still enjoy with hobbies, travel and passion projects is the dream for many. Here’s how to make a go of it
Technology
- 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.
- Opinion
- Digital Life
You’ll forget you’re even wearing these earbuds
The OpenFit earbuds by Shokz might not look the best, but they certainly feel the best of any earbuds we’ve ever reviewed.
Snapchat going backwards in Australia
Elon Musk’s takeover crushed Twitter, but Snap is still a fraction of the size of the dominant Meta-Google online advertising machine.
Work & Careers
Review targets workplace watchdog’s stomach for construction fights
Details about a KPMG review into the Fair Work Ombudsman comes as the CFMEU strikes on a key Qld government project, and warns of potential political fallout.
- Opinion
- Workplace
Singapore’s burnout rate shows the price of success
Singaporeans enjoy some of the highest living standards in Asia. But all of this has come at a price. It is also one of the most stressed-out societies.
Life & Luxury
2024’s best protein supplements help with exercise and ageing
They’re not just for gym junkies – emerging research suggests they may hold benefits for mid-lifers and older adults, as your requirements increase with age.
Spotify’s CEO launches body scans to prolong life
The company that billionaire Daniel Ek founded, Neko Health, opened in Stockholm last year, and it is about to open in London.
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.
- Opinion
- Trump's America
Why Donald Trump is a style icon
With his dowdy, oversized navy suits and MAGA red caps, the former president’s personal brand is a crucial part of his accessible appeal.
Why women stop telling lies when they get older
Cosmetic surgery, diet drugs, bad parenting… Some things are better left unsaid – until it’s too late to matter any more.
