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.
‘Payback’: Unpaid foreign developers blamed for huge clubs data breach
More than a million club patrons are caught up in a data breach of a hospitality IT provider by allegedly disaffected contractors in the Philippines.
- Analysis
- Managed funds
Berkshire after Buffett: Can his deputies step up?
Ted Weschler and Todd Combs stand to take over a $546 billion portfolio from the world’s best-known investor.
- Opinion
- Federal Reserve
The US election is casting a long shadow over the Fed
Lingering inflation has caused hopes for rate cuts to wither. That means the Federal Reserve risks becoming dragged into a divisive election, writes Karen Maley.
- Live
- Markets Live
NAB result boosts banks; Afterpay-owner Block sinks on investigation
Trade surplus lowest since 2020. NAB declares flat dividend. Woolworths says food prices largely flat, shares sink. Fed chairman says rate rise unlikely. Bitcoin sinks. Follow here.
‘Consumers pulling back’: Bapcor in $500m wipeout
Shares in Bapcor, which runs 1100 stores under the Autobarn, Autopro and Burson banners, tumbled as much as 35 per cent after a hefty profit downgrade.
- Live
- Need to Know
Pro-China candidate elected as Solomons PM
New Solomon Islands prime minister Jeremiah Manele will be a big change in style from his polarising predecessor, experts say; Pauline Hanson defends tweet as ‘not racist’.
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Companies
Rio Tinto chairman quiet on Anglo bid, eyes copper profits
Dominic Barton would not comment on whether the company was considering making a rival bid for Anglo American.
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.
Takeover battle for Namoi Cotton heats up with fresh bid
Singapore-based group Olam has moved to trump Louis Dreyfus’ latest takeover offer for the Australian business.
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.
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Markets
Markets cheer after Fed chief rules out rate increases
Traders have ramped up US rate cut bets this year after the Federal Reserve kept interest rates on hold, but the prospect of higher rates in Australia this year is still on the cards.
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
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
Minimise capability gap while waiting for the new fleet to surface
Ten years from now, Australia will have its most potent navy in decades. In the interim, it will have the least capable in more than 50 years.
Defence expert
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
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
‘The time is now’: Blinken puts pressure on Hamas, Israel
The US Secretary of State has urged Hamas to accept a proposed truce in Gaza. And he also expects more from Israel’s leaders.
- Opinion
- Monetary policy
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.
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.
Property
Ransomware group claims attack on valuer HTW
In a post on the dark web, Black Suit says it has obtained 20 gigabytes of the valuation firm’s customer and transaction data.
A housing boom is coming – for the wealthy
Investors, downsizers and upgraders will drive the next wave of residential development. First home buyers will hardly get a look in.
How this CFO landed on the perfect property to help her adult children
Kristen Kubank bought a townhouse to help her adult-aged children who have struggled to enter the property market despite having stable jobs.
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.
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 – they’re smarter than you probably think
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
- 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.
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.
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.
British designer Zandra Rhodes pays homage to Australia
The woman who dressed Jackie Kennedy Onassis and Princess Diana is giving back to the country she fell for 53 years ago.
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.
