Australia unleashes another $100m of military aid to Ukraine
Deputy Prime Minister Richard Marles visited Ukraine to unveil the package, including drones and air defence systems, which swings Australia behind fresh US and UK support.
- Live
- Need to Know
Ukrainian PM thanks Australia for $100m military aid
Ukraine has thanked Australia for an additional $100 million in military aid that brings the nation’s total military support for Ukraine’s fight against Russian aggression to $827 million. Follow updates here.
Chalmers confronts a diabolical budget conundrum
Just a few months ago, the Australian economy was shaping up perfectly for the Labor government and its treasurer. Then came this week’s inflation data.
Investors bet global central banks forced to delay rate cuts
Market expectations for loosening interest rates in Europe and the UK have been pushed back, as the US grapples with a hot economy.
- Investigation
- Shares
Broking bad: ASIC ‘threat’ fears about Morgans revealed
The corporate cop dealt with problems brewing at leading stockbroker Morgans for three years before a public crackdown. New documents detail the scale of its concern.
Woodside looks inward after climate gambit defeated
The oil and gas producer felt the force of big super and green investors when it took a transition plan to shareholders. Now it has no choice but to do better on emissions.
Trump to set interest rates himself under secret presidential plan
Donald Trump’s aides have drawn up secret plans to oust the chairman of the Federal Reserve and allow the president to set interest rates.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
Edition
AFR Magazine - May
See the inner workings of the Gold Dinner charity gala, find out which Australians gave away the most money last year and don’t miss out women’s watch special.
smart investor
A child won a share of her dad’s estate – despite planning to kill him
A 75 per cent success rate in contesting wills is encouraging more family members to sue for a bigger share. Here’s how to protect your final wishes.
- Opinion
- Inflation
You heard right – the RBA could raise rates again
The Reserve Bank of Australia will likely be forced to warn that it could raise rates again.
Why you’ll live longer than you think (and what it means for your wealth)
Very few people die at their age of life expectancy, giving rise to financial planning’s biggest conundrum: longevity risk.
I’m an expat with shares and property. What are my tax obligations?
One of the most common mistakes expats make is not adjusting their investment strategy to minimise tax, advisers say.
How will $3m super tax work when my balance goes all over the place?
You won’t get a refund if you’ve paid the tax and your fund later loses money. But you can carry forward the loss to offset gains in later years.
weekend reads
Why Ita Buttrose used to spy on ABC hosts’ Twitter posts
The former ABC chairwoman has strong views on lots of topics, but social media use by journalists is a particular bugbear.
- Analysis
- Gen Z
Stop complaining, Zoomers – you’re rich
People born between 1997 and 2012 should appreciate that Millennials and Baby Boomers were poorer at this stage in their lives.
In Israel, resignation that the killings are not over
A visit to Israel reveals a shattered society under no illusions about its much-criticised war against Hamas. Gideon Haigh reports.
‘No silver bullet’: Ukraine has weapons but still needs the troops
The $94 billion US aid package should stop Russia in its tracks, but it won’t be nearly enough to send Putin packing.
- Opinion
- Anzac Day
Why young people embrace the emotion of Anzac Day
It’s 109 years since Australian and New Zealand soldiers climbed the steep, craggy hills at Gallipoli, but the day still has a unique hold on the nation’s soul and imagination.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Anglo American rejects BHP’s $60b bid for copper supremacy
Anglo American investors were already cool on BHP’s offer as the race between global mining heavyweights for copper assets hots up.
CEO and former exec accused of undisclosed relationship
The board and chief executive are expected to be named in a soon-to-be-lodged legal claim by Harmers Workplace Lawyers, Super Retail said.
- Exclusive
- Food & drink
Jon Adgemis’ lender pushes to sell his Darlinghurst Hotel
Another lender does not want the sale to go ahead. The crisis highlights the rosy valuations of the indebted pub baron’s properties.
Aussie Broadband to call Barrenjoey, Luminis in Superloop court battle
Investment bankers and Superloop directors and executives will be subpoenaed as witnesses in a Federal Court trial as Aussie Broadband continues to fight its rival over a forced share sale.
Scott Farquhar to step down as Atlassian co-CEO
After more than two decades at the helm, the co-founder of the Nasdaq-listed software giant departs, leaving Mike Cannon-Brookes as sole charge.
Foxtel faces its streaming apocalypse
Once the country’s most profitable media group, Foxtel is losing subscribers and is facing a mega-sports rights bill. Will it make it through?
Seven settles with man it wrongly named as Bondi killer
Less than a week into the job, Seven West Media’s chief executive Jeff Howard has apologised to student Ben Cohen for the error by its flagship Sunrise show.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Market bets the RBA will raise rates by August
Traders are ascribing a more than 50 per cent chance the Reserve Bank will lift the cash rate as early as in August to stamp out inflation.
Activist Elliott builds $1b Anglo American stake
The hedge fund led by Paul Singer has built a billion dollar stake in BHP target Anglo American, placing it among its 10 biggest shareholders.
BHP’s bid for Anglo casts cloud over $9b mine
BHP’s takeover proposal of rival Anglo American is throwing uncertainty over the future for Anglo’s massive fertiliser mine in England.
Resources funds bounce back as commodity rally intensifies
Fund managers are betting on a fresh batch of copper, gold and oil producers to help lift their returns following a challenging period for commodity investors.
Wall Street lifts as Alphabet breaks $US2trn valuation
A rally in the tech megacaps gave US markets a boost while US economic data showed moderate inflation.
Opinion
The RBA is still threading the needle
The Reserve Bank’s next policy move is more likely to be a rate cut despite the evidence seen in the stronger than expected March inflation figures, says GFSM’s Stephen Miller.
Former advisor Paul Keating
Chalmers’ narrow budget path is now in peril
The sudden change in the interest rate outlook this week could be political dynamite for the Albanese government and the budget.
Editorial
You heard right – the RBA could raise rates again
The Reserve Bank of Australia will likely be forced to warn that it could raise rates again.
Columnist
Surge of violence tests policy tolerance of social media
The Coalition in particular has to ask tricky questions of when enough is enough on social media platforms.
Columnist
Australia’s embassy should move back to Kyiv
Most other big democracies have moved their diplomats back to the Ukrainian capital. Australia is a notable laggard.
Contributor
Why US housing remains the big obstacle to rate cuts in 2024
Investors’ hopes of rate cuts are waning, as problems in the US housing market look set to keep house price and rental inflation bubbling along.
Columnist
Politics
Government spending surge to fuel sticky inflation
Monthly spending figures show the federal budget bottom-line in the nine months to March was running $4.1 billion ahead of projections from December,
Police killings spur $161m national register of firearms
More than 35 years after it was first proposed, a national database will be established to track millions of firearms around the country.
US ban on non-competes will likely ‘embolden’ Labor
A blanket ban on non-compete clauses in the United States is likely to embolden the Albanese government to go hard on regulating post-employment restraints in Australia, some legal experts have predicted.
Start-ups, dentists drain retirement savings in ‘super scam’
The value of super withdrawn for dental treatments nationally jumped 373 per cent to $313 million from 2019 to 2023, and Labor has warned of a potential crackdown.
Chalmers cautions on calls for welfare cash splash
Releasing a new expert report, Treasurer Jim Chalmers cautions extra help for Australians doing it tough had to be weighed against other fiscal challenges.
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World
King Charles goes back to work after cancer treatment
Buckingham Palace announced that the monarch has recovered from cancer and will resume public-facing duties.
Top US judges sympathetic to Trump in historic immunity case
Conservative Supreme Court judges signalled support for the former president on his claims of protection from prosecution in a case likely to impact the US election.
Scotland in minority government after Green coalition collapses
The Scottish National Party will run the country as a minority government after its coalition with the Green party fell through over climate policy.
#MeToo setback: NY court overturns Harvey Weinstein rape conviction
The New York ruling reopens a painful chapter in America’s reckoning with sexual misconduct by powerful figures.
US secretly shipped new long-range missiles to Ukraine
Ukraine for the first time has used a longer-range version of weapons known as ATACMS, striking an airfield in Crimea and Russian troops in southeastern Ukraine.
Property
The conundrum behind Perth’s housing price surge
There’s plenty of demand and many projects approved, but sky-high construction costs have left developers asking for more government money.
Why this apartment owner ditched real estate agents
Morgyn Bostock chose not to use an agent when she sold her home - and would happily do so again.
Over-50s lifestyle boss asking $30m for Byron retreat
GemLife CEO Adrian Puljich and wife Jessica list Byron estate for $30m, while mental health advocate Hugh van Cuylenburg and Penny Moody buy in Bangalow.
‘Get out now’: empty stores haunt iconic Sydney shopping streets
Retailers on Paddington’s Oxford Street and Newtown’s King Street are feeling the pinch of high operating costs and declining consumer confidence.
- Exclusive
- Luxury property
Gutted penthouse in coveted Sydney block goes on sale for $10m
The unrenovated property in Potts Point’s landmark Manar building has DA-approved plans, while a lavish Paddington home inspired by Versailles is on sale again.
Wealth
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
Why you’ll live longer than you think (and what it means for your wealth)
Very few people die at their age of life expectancy, giving rise to financial planning’s biggest conundrum: longevity risk.
A child won a share of her dad’s estate – despite planning to kill him
A 75 per cent success rate in contesting wills is encouraging more family members to sue for a bigger share. Here’s how to protect your final wishes.
Technology
Alphabet surges past $3 trillion, announces first-ever dividend
Google’s parent company rose nearly 16 per cent after first-quarter earnings beat expectations and a $US70 billion stock buyback was approved.
- Exclusive
- Social media
TikTok Australia makes its first stand after US ban laws pass
The US congress passed a bill on Wednesday requiring TikTok to be sold within a year or be banned in the country.
‘Safe room for terrorists’: ASIO warns big tech on encryption
Federal spy and crime chiefs will demand access to social messaging systems that allow terrorists, violent extremists and child abusers to operate with impunity.
Work & Careers
Executive sues over HR gossip and surveillance
A senior executive is seeking damages over claims his employer’s human resources chief spread false gossip about him in the workplace and charged his direct report to spy on him.
Mass lay-offs at regional uni as international enrolments slump 90pc
Federation University in Victoria could be the canary in the coal mine as its international student enrolments dive.
Life & Luxury
Streeton stuns at $10m art auction
Arthur Streeton’s historic scene took top honours, but works by Bronwyn Oliver and Nicholas Harding were the big surprises.
Tesla Cybertruck spotted in Sydney
Tesla has launched a ‘tour down under’ of its Cybertruck with the first vehicle arriving in Australia.
How to train for a marathon no matter how fit you are
It might take you a year to prepare for, but even the complete novice can work their way up to do it. Here are some tips for where to start.
This new play shows how oligarchs helped Putin – but ended up losing
Peter Morgan’s new work follows Vladimir Putin’s rise to the presidency and the Russian high-fliers who mistakenly thought he’d be their puppet.
A simple recipe for baba ghanoush with a twist
A desire to dig deeper into Lebanese cuisine is redefining Gerard’s Bistro in Brisbane.
