Coalition to bring back tax and spending limits: Taylor
The Coalition will reintroduce speed limits on tax and spending, and implement reform to encourage investment and aspiration.
Replica Ozempic and Mounjaro will be banned by October
The ruling preserves the status quo of the drug market in a boon to big pharmaceutical firms and a blow to start-ups that are trying to disrupt the sector.
Labor premiers leave Miles on his own with Dutton on immigration
Former treasurer Wayne Swan has accused Peter Dutton of “dog whistling on migration”.
One dead, dozens injured as turbulence strikes Singapore Airlines jet
Strong turbulence forced the plane to make an emergency landing in Bangkok during a flight from London to Singapore.
- Exclusive
- Gaming & wagering
Brisbane developer at centre of Star’s Hard Rock mystery
The Florida-based entertainment giant said it had not authorised its name for use, despite Star telling investors it had received a proposal.
Zip’s Larry Diamond returning to Sydney, says US mission accomplished
Diamond says he heeded warnings from James Gorman, setting Zip onto a profitable path in the US, where he expects BNPL to keep winning share off credit cards.
Old guard of US beachfront revolts over first new luxury condos in decades
What’s at stake is a contest to unlock prime waterfront land for extravagant buildings for wealthy newcomers from the US Northeast, Midwest and California.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
tuesday tech
Corporate regulation is not as bland as AI thinks: Longo
ASIC asked a generative AI program to summarise reams of documents as a test. The results were more boring than the originals.
Scarlett Johansson takes on Sam Altman over ‘eerily’ similar AI voice
The Hollywood actor says she was “shocked” by the use of a voice “eerily similar” to her own in the latest worry for the ChatGPT maker.
Microsoft fights back against Apple with AI laptops
Microsoft says it now has laptops that can match Apple for battery life as well as performance. Plus, they have AI.
- Exclusive
- Venture capital
Big win for Square Peg as Nvidia buys AI start-up Deci
The Melbourne VC firm will soon be toasting a rich profit on its investment in an Israeli AI start-up, when it is acquired by chip titan Nvidia for $447 million.
How business websites will have to change for Google’s AI era
Enterprises hoping to attract the attention of the search engine’s Gemini platform will need short, punchy web pages, says a digital advertising expert.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Data centres may close Woodside’s hydrogen circle: O’Neill
Chief executive Meg O’Neill said data centres in Singapore – which the government has insisted must provide their own green power – could be an industry model.
Four executives exit Bunnings amid ‘reshaping’ of top management
Bunnings managing director Mike Schneider has overhauled his top management team, but he says it’s not part of a cost-cutting blitz.
Lenders move on Adgemis’ El Primo Sanchez bar
The move comes amid debt refinancing negotiations led by major lenders to the dealmaker’s hospitality empire.
Billionaire MinRes boss hits back at Dutton
Chris Ellison says tax credits to help build a critical minerals industry that will be around for decades are of high value to Australia, and the Coalition is on the wrong side of history.
- Exclusive
- Gaming & wagering
Brisbane developer at centre of Star’s Hard Rock mystery
The Florida-based entertainment giant said it had not authorised its name for use, despite Star telling investors it had received a proposal.
Four listed fintechs say they’ll be smashed by credit report rules
Plenti, MoneyMe, Harmoney and Wisr allege major banks are conspiring against them by restricting access to crucial credit file data they use to price loans.
Mobile users face price rises as Telstra swings the axe
Customers could be hit with above-inflation price increases for mobile phone plans, as well as higher internet fees, as the telecommunications giant slashes costs.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
VGI founder Robert Luciano pulls millions from Regal-owned funds
The high-profile stock picker has sold stakes in the funds managed by Phil King after registering a new venture last month.
Crypto lifted by ether’s biggest jump since 2022 on ETF hope
Social media is alive with speculation that the US regulator may be warming to the idea of an ether exchange-traded fund.
Macquarie says there is a 50pc chance of recession this year
The group’s economist Sophie Photios said the economy was like a “masquerade”, where immigration had masked it going backwards in per person terms.
Tesla shareholder group slams Elon Musk’s $84b pay package
A coalition of Tesla shareholders that hold a small portion of Tesla stock said Musk is distracted by his commitments to the five other companies he controls.
Trillion-dollar fund managers pile money into Asia, emerging markets
Schroders is bullish on European and Japanese equities, and Blackrock has gone overweight on emerging markets for the first time since 2020.
Opinion
From euphoria to subsidies to kick-start the next great mining hopes
An Australian mining industry more used to being threatened by super-profit tax raids is being offered handouts to kick-start its way into the low carbon era.
Editorial
Gas industry hawks its carbon credentials
Barrow Island and its inhabitants of kangaroos, perentie lizards and rare native fauna is also home to the world’s largest dedicated carbon capture and storage project.
Columnist
Why you can’t argue the $300 energy rebate will lower inflation
Energy bill relief increases real disposable income and boosts aggregate demand. We can debate how far they push inflation, but not that the direction is up.
Economist
Arrest warrants huge blow for Israel and massive gamble by ICC
The question of how the US president responds to this, along with Congress, now becomes critical.
Columnist
Hamas’ defeat, helping Ukraine win, best for West
The sooner Israel defeats Hamas, the better. And also the sooner the US focuses attention on helping Ukraine win the war, the better.
Editorial
Why WA loves the critical minerals budget boost
Peter Dutton’s refusal to endorse Labor’s plan for production tax credits for critical minerals processing and green hydrogen won’t make him popular in must-win seats in Western Australia.
Columnist
Reports
The future of financial advice
This special report looks at options to make financial advice more accessible and affordable, including robo-advice.
Sponsored
by CommBankPolitics
Labor premiers leave Miles on his own with Dutton on immigration
Former treasurer Wayne Swan has accused Peter Dutton of “dog whistling on migration”.
Governments ‘should report cost blowouts just like companies do’
State governments should be held to the same reporting standards that ASX-listed companies when it comes to major projects, Marion Terrill says.
Queensland heads for deficit as Labor readies election cash splash
A pre-election spending spree will result in Queensland’s forecast surplus swinging into a deficit of about $3 billion, Treasurer Cameron Dick says.
NDIS reforms can’t wait for a ‘magical unicorn day’: Shorten
Disability Minister Bill Shorten says premiers should stop using disabled people as a political football, after the states called for delays to NDIS reforms.
Queensland industries fear migration cut will worsen worker shortage
Slashing migration numbers risks compounding stretched workforces, Queensland industries warn.
SPONSORED
World
First Aussies home from riot-hit New Caledonia after RAAF rescue
French authorities have given permission for evacuation flights to take off and land in Noumea.
PM’s refusal to slap down international court ‘tarnishes’ Australia
Jewish groups and Peter Dutton say Anthony Albanese should join the US and condemn the International Criminal Court’s pursuit of Benjamin Netanyahu over war crimes.
- Opinion
- US election
Seven theories of why Biden is losing
The US president is running like he’s winning, which he isn’t. From his age to economic management, voters are turning off the Democrats’ nominee, writes Ezra Klein.
Iran moves to project stability after fatal air crash
The change in leadership comes during heightened tensions in the region and discontent in Iran, where many have called for an end to decades of repressive rule.
Political bombshell hits Israel’s leaders over Gaza war
The application by the ICC prosecutor for the arrest warrant for Benjamin Netanyahu is loaded with symbolic and practical implications.
Property
- Exclusive
- Hotels
Collins Street tower to appeal to return-to-office ‘boltholers’
Developer Sterling Global believes corporate high-flyers commuting into town from regional locations on a more regular basis will want a CBD bolthole.
Old guard of US beachfront revolts over first new luxury condos in decades
What’s at stake is a contest to unlock prime waterfront land for extravagant buildings for wealthy newcomers from the US Northeast, Midwest and California.
The top suburbs where home values have bounced out of decline
House prices in some top-end suburbs have bounced back from falls in the previous quarter as demand rises amid lack of stock.
Press ‘go’ on the $20b boom in renewables development
Renewables construction will hit $20 billion annually by 2026/27 as the country races towards ambitious carbon targets and coal-fired power stations close.
Accor readies Melbourne Airport hotel and co-working hub for take-off
The hotel offering of 464 rooms across two Accor brands – a Novotel and ibis Styles – will include a two-level co-working hub when it opens on July 1.
Wealth
- Opinion
- Managed funds
More zeros than heroes in active funds management
Don’t be fooled by short-term performance data and carefully assess after-fee returns.
- Opinion
- Cash
Why holding too much cash can be harmful to your wealth
As a standalone asset class cash has long underperformed bonds, property, and shares.
‘I lost my 95-year-old mother’s $1.6m life savings to scammers’
Great-grandmother Elaine Spring is ‘too frail’ to be told that the proceeds of the sale of the family home are gone.
Technology
Corporate regulation is not as bland as AI thinks: Longo
ASIC asked a generative AI program to summarise reams of documents as a test. The results were more boring than the originals.
Scarlett Johansson takes on Sam Altman over ‘eerily’ similar AI voice
The Hollywood actor says she was “shocked” by the use of a voice “eerily similar” to her own in the latest worry for the ChatGPT maker.
Microsoft fights back against Apple with AI laptops
Microsoft says it now has laptops that can match Apple for battery life as well as performance. Plus, they have AI.
Work & Careers
Academics seek pay for emails out of hours
A major union is using Labor’s new right to disconnect laws to scrap a “common practice” where casual academics do not get separately paid to be contacted outside of hours.
- Exclusive
- Insolvency
Doctors owed millions in collapse of service provider
The Melbourne-headquartered eReports allegedly failed to disclose $7.2 million owed to more than 400 specialists before calling in administrators.
Life & Luxury
Pirates, pampering, rum bars and more - the Caribbean has it all
The region has many drawcards in addition to its famous white-sand beaches and azure waters. Norwegian Cruise Line offers a tantalising taster.
How to quit the treadmill and travel for six months – yes really
We all crave time out from routine and life stress to discover a different, more peaceful world. Here’s how one Australian couple pulled off “the impossible”.
This week’s edit of lovely luxuries for travellers at heart
From seasoned adventurers to those just looking for a short break away from home, we have inspired suggestions for you.
How to lose yourself in the wild without getting lost
Having wireless communications with you when there’s no mobile reception isn’t just about making adventure travel more social. It’s safer, too.
What five common sweeteners are really doing to your body
New research has revived fears about whether sweeteners cause health problems.
