- Updated
- Supermarket inquiry
Woolworths, Greens in fiery clash on profits
Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate, in a fiery Senate hearing that went off the rails on Tuesday.
Leaders condemn terror attack, call for calm
Political and religious leaders have called for calm after a shock stabbing in a Sydney church has put some communities on edge for reprisals.
Former Star CFO alleges the company tried to cook the books
Christina Katsibouba, who quit last month, told an NSW inquiry into the casino that her former boss did not want to be transparent about debt troubles.
Muslims fear rise in Islamophobia as tensions run high after attack
There are fears in the Muslim community that law enforcement’s labelling of the stabbing of a bishop a terrorist attack will inflame Islamophobia.
Westfield, retailers at odds over pre-attack drills
Days after six people were fatally stabbed at a Westfield Bondi Junction, it has been revealed it did not perform drills on how to respond to such a threat.
Environment revamp on hold after WA alarm
The Albanese government has delayed indefinitely the overhaul of laws designed to protect the environment after lobbying from WA Premier Roger Cook.
A rape, a cover-up narrative and a political firestorm
“Tonight, claims of rape, roadblocks to a police investigation, and a young woman forced to choose between her career and the pursuit of justice”. That is how Ten introduced its interview with Brittany Higgins.
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Companies
- Updated
- Supermarket inquiry
Woolworths, Greens in fiery clash on profits
Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate, in a fiery Senate hearing that went off the rails on Tuesday.
- Opinion
- Chanticleer
The Senate cage match that saw Woolies CEO threatened with jail
Brad Banducci and Greens senator Nick McKim played a brutal game of verbal tennis over Woolworths’ profitability.
- Opinion
- Chanticleer
Blackstone and BlackRock founders agree on investing’s next big thing
Some of the biggest names in global finance converged on Melbourne on Tuesday to kiss the ring of the super sector. One topic dominated.
LPE in River Capital’s cross-hairs after CEO sacking
The dismissed CEO of ASX-listed electricity company LPE supports Tuesday’s takeover bid by River Capital, which bought his shares.
Goyder pleads for support for Woodside’s climate plan
The vote on Woodside’s climate action plan goes to the heart of its credibility as a legacy fossil fuel company committed to transition to net-zero emissions.
Rio and BHP’s massive US copper mine faces religious freedom challenge
Resolution Copper would be the largest development of its kind. Native American groups opposed to it have found new financiers for legal action against it.
- Updated
- Casinos
Star plotted to oust regulator, failed to check high-risk clients
Star Entertainment’s chairman and former chief executive privately schemed to wage war on the casino regulator and considered engaging shareholders in a class action against a NSW government-appointed manager.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
$A hits five-month low as hopes of rate cut fade
The local currency fell to the lowest since November after surprisingly strong US retail sales data prompted traders to again taper rate cut bets for the world’s largest economy.
ASX drops 1.8pc; banks, miners hit
Shares drop; Woolworths CEO threatened with jail at hearing; Macmahon buys Decmil; Imugene sells US facility; Suncorp, Vicinity seek funds; $A slumps. Follow updates here.
Big investors avoid ‘too hard basket’ Fortescue – and miss major rally
The Andrew Forrest-chaired group is one of the ASX’s best performers, but remains the least loved among brokers and the top Australian equities fund managers.
RBA might be forced to cut rates before US Fed
Experts say the Reserve Bank is still on track to cut rates this year but sticky US inflation might force the powerful Federal Reserve to delay until at least Christmas.
What happened overnight? A shock jump in US spending weakened the case for rate cuts
Much stronger than expected retail sales in the US diminished the likelihood of interest rate cuts. The threat of Israeli retaliation boosted gold to a near-record.
Opinion
Attacks shake Sydney to the core
The NSW capital is reeling in the aftermath of the Bondi Junction massacre and a terror stabbing of a church minister in front of his congregation.
Senior writer
Forensic judgment proves rape, debunks political cover-up
Justice Lee’s factual pushback at some of the unthinking cultural warfare that has overwhelmed politics and media in recent times has performed a great service.
Editorial
Sustainable aviation fuel has been a talkfest for far too long
For a government that has flagged its commitment, there is surprisingly little policy. Australia still produces no SAF – and has no fully funded projects.
Senior reporter
Why bond markets are worried about a 1967-style ‘soft landing’
It’s rare for central banks to be able to pull off a “soft landing”, and even rarer for them to do so when official rates are below nominal economic growth.
Columnist
China stifles the debate it needs to have
What is the point of attending China’s most important public forum if foreign delegates are instructed before going on stage not to say anything negative about the economic outlook.
Asia watcher
The dangers in using the wrong policy tools for the jobs
There are tangible costs and collateral damage when governments use the wrong instruments for the task at hand.
Economics professor
Politics
Leaders condemn terror attack, call for calm
Political and religious leaders have called for calm after a shock stabbing in a Sydney church has put some communities on edge for reprisals.
- Analysis
- Supermarket wars
Business may well wonder what is going on in Canberra?
It took 15 minutes for The Greens’ Nick McKim to threaten outgoing Woolworths boss Brad Banducci with six months’ prison and $5 million in fines on Tuesday.
- Exclusive
- Industrial relations
Workers could get rights to double their holidays
Unions and employers are close to agreement on introducing a right for workers to take twice their annual leave on half pay.
- Exclusive
- Federal budget
PM’s Made in Australia plan a risk to taxpayers: former RBA boss
Bernie Fraser, the only person to serve as both RBA governor and Treasury secretary, has warned governments have a poor record of picking winners.
- Opinion
- Foreign relations
Iran’s attack opens up a new world of risk
Iran’s drone and missile strike against Israel didn’t do much damage, but the potential response is unsettling the White House as well as global markets.
SPONSORED
World
China GDP grows faster than expected on fresh stimulus
The Chinese government is drawing on infrastructure work - a well-used playbook - to help lift the economy, as consumers remain wary of spending and businesses lack confidence to expand.
- Updated
- Courts
Trump’s criminal trial begins, but impartial jurors prove hard to find
The initial pool of prospective jurors dwindled rapidly. More than half of the first group of 96 were dismissed after indicating they could not be impartial.
Risk of wider conflict as Israel weighs its response to Iran
Facing pressure from all sides, Prime Minister Benjamin Netanyahu is reportedly looking for non-lethal options to retaliate against Tehran’s weekend missile fusillade.
He’s blinded in one eye, but Salman Rushdie’s vision is undiminished
The author’s brush with death came more than 30 years after Iran’s ayatollah issued a fatwa calling for his killing over the ‘The Satanic Verses’.
Tesla to slash more than 14,000 jobs
Slowing demand for electric cars has led Elon Musk’s company to announce it will sack 10 per cent of its workforce globally.
Property
AI boom drives $174m data centre deal on 3.6pc yield
Macquarie Technology Group will acquire the Intellicentre Campus at Macquarie Park from Singapore’s Keppel DC REIT as it looks to lift data storage capacity.
- Exclusive
- Hotels
Gold Coast chicken farmers spend $45m on Brisbane hotel
The Singh family has bought the 179-room former Pacific Hotel in Spring Hill and converted it to a Mercure hotel to be operated by Accor.
Warehouse construction to surge again, but no oversupply fears
Warehouse completions fell by almost 1 million square metres last year, but the stabilisation of debt and construction costs will fuel a strong rebound.
Welcome to Sydney, where a garage can set you back $500,000
The buyer of this neighbourhood space doesn’t have an electric vehicle. But enough people already do to make it an asset worth having.
America’s most expensive housing market births an unexpected rebel
A Fox News host and adviser to ex-British prime minister David Cameron is on a mission to tame the costs that make home ownership akin to a luxury good.
Wealth
Nine of the best games to play to supercharge your investing
What if you could learn everything you need to know about investing by playing a few board games? Here are nine that will give you a head start.
- Opinion
- Investing
Where to shop for opportunities in the retail sector
Consumer spending may start to turn around from mid-year, throwing up opportunities in retail companies.
Super fund sued over customers’ unpaid penalties in ‘unique’ case
The claim that ESSSuper left customers more than $40 million out of pocket could prove a test case on how rigorously the $3.6 trillion industry is held accountable for meeting its trustee duties.
Technology
Apple exec’s secret to success: don’t take notes
In his first day of cross-examination, Apple Fellow Phil Schiller lays out its casual but obviously effective approach to decision-making.
- Opinion
- Digital Life
A router that will (eventually) make your home Wi-Fi fly
Can you save money and improve download speeds, both at the same time? With WiFi 7, we think you can.
AI to create 150,000 jobs, claim the academics who study it
A new economic analysis by a consortium of top Australian professors has found AI should add 150,000 jobs to the economy by 2030 and boost GDP by $200b a year.
Work & Careers
Star chef Matt Moran reveals his dinner party secrets – and pet hates
At age 15, Matt Moran dropped out of school and learnt to cook. Along the way, he has learned how to run a business, manage people and stay sane.
EY cuts 148 jobs as consulting downturn deepens
The firm says the redundancies are needed to protect its financial position, and has told the affected staff they have a week to find a new internal role or leave.
Life & Luxury
Everything you need to know about using ‘anti-ageing’ retinol
The vitamin A derivative that’s so clever it treats acne and the signs of old age has its share of critics as well as devout followers, including Nicole Kidman.
Tasting Australia’s $795 debut train trip an instant sell-out
“I’ve come up with a menu that will work in a galley,” chef Asma Khan says of the coming journey. Here’s a taste of this and other events at next month’s culinary extravaganza.
Does everything still look better in black and white?
Kobo’s first foray into colour e-book readers would be perfect if it wasn’t for one, small flaw.
Over 50 and lonely? Here are six ways to fix that
Loneliness isn’t always apparent from the outside. It’s an invisible cloak that eats away at your wellbeing without anyone knowing. That can make it deadly.
Middle-aged? Male? Heed the 2pc rule
Throw out your T-shirts and remember to befriend your barber. Oh, and sharpen up your image a little bit more every year past the age of 45.
