BHP runs down the clock on $64b Anglo American dream
It is a week since Anglo American rejected an improved takeover bid from BHP, but as a deal deadline approaches, the target and its suitor are steadfast on their own terms.
Ex-Star CEO accuses board of being involved in regulator stoush
The barrister representing Robbie Cooke has told an inquiry the company’s directors “cannot escape” - they were part of the rift with the NSW casino authorities.
London court rules Assange can appeal US extradition
The Australian computer expert has spent the last five years in a British high-security prison after trying to fight an extradition on espionage charges.
JobSeeker, JobKeeper cut wealth inequality
Lower-income households benefited the most from early COVID government payments, but higher-income households had the greatest gains in the recovery.
Star suitor Hard Rock knows a thing or two about the mass market
If a deal proceeds, there’s every chance casinos in Sydney and Queensland will look very different. Just look at their guitar-shaped Florida palace.
- Analysis
- Mining
Inside Anglo American’s rushed break-up plan
Some of the most senior executives at Anglo American were caught off-guard by Duncan Wanblad’s spectacular break-up plan. Even the CEO himself.
Cap big super at 10pc of ASX companies: senator
The $3.6 trillion superannuation industry’s market power means it has the capacity to “squash retail investors like bugs” – and that shouldn’t be allowed, Andrew Bragg says.
Exclusive insights from the Street Talk team delivered to your inbox daily.
MONDAY MEDIA
- Analysis
- Start-ups
Growing pains: Tougher times put VC on a collision course with media
From rumblings of a boycott to senior technology investors complaining, Australia’s start-up and media industries aren’t as close as they used to be.
Financial Review print and digital readership jumps
The Australian Financial Review has grown its print and digital readership for the year, while its News Corp rival The Australian went backwards.
- Analysis
- Due diligence
ARN Media’s M&A record holds out for elusive win
After seven months, the dream of an ARN-Southern Cross combination fell apart. But if history is any guide, M&A has been a source of unease for ARN investors.
- Analysis
- AI
Google search is becoming Google answers. That is bad news for media
In a world where AI can browse the internet and paraphrase what it sees, users may find they never click on links again. That could be a big problem for publishers.
The researchers influencing billions in global marketing
The Ehrenberg-Bass Institute is sponsored by The Coca-Cola Company, McDonald’s, Mars, Nestlé and PepsiCo. Its findings guide global business decisions.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Ex-Star CEO accuses board of being involved in regulator stoush
The barrister representing Robbie Cooke has told an inquiry the company’s directors “cannot escape” - they were part of the rift with the NSW casino authorities.
- Opinion
- Chanticleer
Star bidders need to answer one big question
That the stricken Star would attract potential bidders is no surprise. But there’s one question buyers will struggle to answer.
Hard Rock knows a thing or two about the mass market
If a deal proceeds, there’s every chance casinos in Sydney and Queensland will look very different. Just look at their guitar-shaped Florida palace.
Bapcor shuts big warehouses for two weeks to stop inventory blowout
The owner of Autobarn, Burson and Autopro has told car parts suppliers it won’t be taking any deliveries in late June at three large distribution centres in Victoria, Queensland and WA.
BHP averts Pilbara industrial action as train drivers agree to deal
The company’s iron ore train drivers will receive $40,000 in bonus payments under a new workplace agreement that ends a decade of tensions.
Lithium miners plead ‘foreign entity’ case to US over China links
Lithium miners like Mineral Resources reckon it would be counter-intuitive for their Australian mines to be labelled ‘foreign entities of concern’ by the US.
Star shares surge after casino confirms Hard Rock interest
The company has “received inbound interest” from several parties even as it faces the loss of its lucrative Sydney gaming licence.
Companies in the News
Search companies
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Markets
Panicked traders position for mega-rally as metal prices hit record
Copper and gold prices surged to record highs on Monday morning as bullish investors piled in and bears were forced to cover short positions.
ASX record within striking distance as miners, energy stocks rally
Australian shares move within 35 points of record close. China leaves rates on hold. Copper and gold at record highs. Follow updates here.
Loss-making companies are surging on the ASX, baffling analysts
Goldman Sachs is perplexed about the surge in unprofitable stocks, and says there are safer alternatives like retailers Lovisa and Cettire.
Australian investors snag Hong Kong bargains as share prices surge
Fund managers see opportunities, with Chinese authorities promising measures to stop a long-term outflow of money from one of Asia’s biggest sharemarkets.
- Exclusive
- Monday fundie
John Hempton laments return of meme machine Roaring Kitty
Before being hit by last week’s meme-stock rally triggered by an online stock promoter, Sydney hedge fund manager John Hempton was having a great year.
Opinion
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
Budget and reply add up to a bad week for Australian prosperity
Both major parties are failing to meaningfully engage with the centrist growth agenda of incentive-sharpening policy reform and mostly disciplined macro policy that provided the foundation for Australia’s three decades of prosperity.
Editorial
Penny Wong must speak up on New Caledonia
It’s time for Australia’s foreign minister to act as the honest friend and tell France that they are mishandling their Pacific territory.
Commentator
We need to prepare in good times for the next big shock. These are the good times
We are a long way from even a balanced budget. If we are going to have a fiscal war chest for the next big shock, we need to prepare now.
Economist
Punters are not convinced by Labor’s budget
The budget had two main political aims: to help further with the cost of living; and, in doing so, buy a pre-election interest rate cut. The punters are not convinced it will achieve either, polling finds.
Political editor
Dutton’s migrant crackdown treats economy with disdain
In the populist pitch to bring down house prices, there is little recognition of the role of migrants in filling acute skills shortages across the economy.
Deputy editor - News
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 premier backs Dutton’s plan to slash immigration
Queensland’s Steven Miles claims credit for the federal opposition’s policy to cut overseas arrivals, saying the housing industry needs time to catch up.
Australia considers declaring Middle East no-go zones
ASIO and the Federal Police remain concerned about terrorism in Australia amid tensions in the Middle East.
Australia ready to help Solomons build a defence force: Marles
Deputy Prime Minister Richard Marles will meet Solomon Islands’ new leader Jeremiah Manele in Honiara on Tuesday.
Students arrested in Queensland as protest encampments defy orders
Pro-Palestine student protesters have been arrested in Queensland while others in Melbourne have defied orders to vacate an occupied building.
Iranian President Ebrahim Raisi is dead, says Iranian official
Official said helicopter was ‘completely burned’; Liberals call for Diddy ban; Dutton accused of having ‘a vibe’, not policies. Here’s how the day unfolded.
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World
- Opinion
- Iran
Raisi’s death deals blow to Iranian regime’s grand plan
Raisi was integral to Ayatollah Ali Khamenei’s plans to cement the influence of regime hardliners and ensure a smooth succession to the republic’s top post, writes Andrew England.
Foreign Minister another hardliner close to Revolutionary Guard
Hossein Amirabdollahian represented the hardline shift in Iran after the collapse of Tehran’s nuclear deal with world powers when Donald Trump unilaterally withdrew.
Joe Biden’s pollution rules throw up barrier to US natural gas projects
New air quality standards will require the Federal Energy Regulatory Commission to more closely examine the impact of LNG projects on the surrounding air quality.
‘Iran is broke’: How clerics crippled the Islamic Republic
Behind all of Iran’s posturing, there seems to be a backstop. The country cannot afford all-out war because its economy is on its knees.
Iran’s hardline president dies in helicopter crash
Officials have confirmed the deaths of President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian in a helicopter crash, state media reported.
Property
- Exclusive
- Retail property
UBS bets on co-working and bowling to fix troubled Melbourne mall
UBS has secured two big tenancies for St Collins Lane, an arcade in the Melbourne CBD that has been one of the city’s worst performing malls for years.
The battle for the streets of New York
The Big Apple’s streets are teetering between lively and unlivable. Now, the city is about to embark on the country’s first congestion-pricing plan.
- Exclusive
- Office
Why this $103m office on Sydney CBD fringe sold at no discount
Listed property fund manager Centuria has sold its Biomedical Building to Kurraba Group for $103 million.
Glebe bungalow leapfrogs guide by $1.2m as clearance rates soften
While competition for premium properties remains strong, on-the-fence buyers are stepping back as hopes of a looming rate cut fade.
- Exclusive
- Luxury property
Surgeon hopes to double suburb record with $18m waterfront castle
On Sydney’s Lower North Shore, a regal waterside property has joined the market guiding $18 million.
Wealth
10 investment tips to ride out the ‘new normal’
Given elevated interest rates and inflation are forecast to flow through financial year 2025, investors are eyeing stocks, property and gold to get ahead.
Super funds spend big ahead of advice reforms
As the legislation enabling them to give more financial advice languishes in Canberra, funds are moving ahead with plans to implement it anyway.
- Opinion
- Pathology
This routine health test is an investment opportunity
The share prices of pathology companies are below pre-pandemic levels and the world will need more blood tests.
Technology
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.
- Opinion
- Digital Life
Why the iPad Pro still hasn’t made itself useful enough
Apple’s latest tablet is undoubtedly one the greatest feats of computer hardware engineering ever. But what about its software?
- Exclusive
- Funding
NSW surgeons bet they can beat investment bankers with VC fund
Two surgeons behind a new $50 million venture capital fund based in Bowral, NSW, have launched a new venture capital fund.
Work & Careers
- Opinion
- Workplace culture
How much fun should you have at work?
Jokes at work need to be deployed with skill and care. Yet, the best are glorious and the working world would be a far better place if we had a great deal more of them.
Employers back worker ‘choice’ in right to disconnect battle
The Australian Chamber of Commerce and Industry has warned against strict rights to disconnect in awards, saying it could affect enthusiastic staff.
Life & Luxury
What five common sweeteners are really doing to your body
New research has revived fears about whether sweeteners cause health problems.
A ski pass for seven resorts for $619? France trumps the US on price
Ski Méribel once, and you’ll be hooked on Les Trois Vallées – especially as the region is cheaper than most American resorts.
Squeeze out the most value at these five-star luxury hotels
So you’ve splashed out on airfares, but you still have to book the accommodation for your next holiday. Here’s how to get the most bang from your remaining bucks.
How LVMH exhumed luxury rail with the Eastern & Oriental Express
The venerable company has returned with a renewed sense of purpose after a refresh and a rethink, but the focus is still on timeless elegance and luxuriously slow travel.
From Barbie to Warhol, the must-visit major cultural exhibitions
Toting a briefcase around the world’s financial capitals can be exhausting. Galleries and museums offer a sanctuary and stimulation for the business traveller.
