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Cash splash as Boomers hit the jackpot
After decades of saving, older Australians are spending up. But the wave of cash is causing headaches for the inflation-fighting treasurer and RBA. Can the good times last?
- Updated
- Earnings season
Macquarie takes hit on green energy
The investment bank’s chairman Glenn Stevens has warned that fossil fuels, especially gas, will be required “for quite some time to come”.
Wall Street surges as jobs report shows hiring slowdown
Stocks are rising on Wall Street following a government report showing job growth rose modestly in April.
- Analysis
- Australian economy
‘Made in Australia’ risks higher interest rates and a poorer future
The old rules of economics still apply and the consequences of Albanese’s big gamble could be widely felt.
- Exclusive
- Tax avoidance
Tax office moves on administrators in ‘$180m tax fraud’
The administrators of a formwork company involved in what could be the country’s biggest tax fraud are facing court action for reducing an $11 million payroll tax debt to just $1.
Has Julie Bishop taken on an impossible task?
The military is losing ground in Myanmar. What follows could be a failed state – and Australia’s former foreign minister will be right in the thick of it.
Tories suffer historic losses in UK local elections as voters revolt
The Conservative have lost dozens of seats on local councils - a result that suggests the party faces one of its biggest-ever defeats in the upcoming general election.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
smart investor
Inside Australia’s most luxurious retirement pads
Rooftop pools, plush libraries and temperature-controlled wine cellars – welcome to deluxe retirement living.
Why this Sydney investor bought property in Brisbane
Investors from Sydney and Melbourne are increasingly looking further afield in the hunt for value. But how do you go about buying in an unfamiliar market?
- Opinion
- Inflation
Central bank independence is dead
Politicians are compromising central banks’ commitments to price stability targets, and the ensuing sticky inflation will require a much tougher cost of capital to extinguish.
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.
What every buyer needs to know about auction clearance rates
Auction clearance rates give some clues about when to buy or sell.
weekend reads
Inside the fight for smartphone-free childhoods
A rising number of parents around the world, who have become addicted to handheld devices themselves, want to ban under-16s from having them.
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.
‘I loved’ my old accounting job – surprise confession from opera star
Baritone Teddy Tahu Rhodes is nostalgic about his days working with spreadsheets before he quit the world of finance to fulfil his musical ambitions.
Menopause hormone therapy is OK after all, long-term study finds
Since a study in 2002 was called off, women have been reluctant to take hormones. But a new study has reassuring news for women under 60.
How to get a meeting with the UAE’s $2.3 trillion man
Deals with hard-to-reach decision maker Sheikh Tahnoon bin Zayed Al Nahyan are often built on years of relationships with one of his network of gatekeepers.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
How 777 Partners bad marriage doomed Bonza from the start
Documents pitched to investors prove Bonza could never succeed with the fleet it was leasing – a condition of its relationship with 777 Partners.
Forrest accuses US of sacrificing green dream to fossil fuel lobby
Fortescue founder Andrew Forrest unleashed on the US government over a threat to tax credits that underpin an $836 million green hydrogen project in Arizona.
Why TPG Telecom changed its mind on Optus
After the departure of former Optus boss Kelly Bayer Rosmarin, the rival telco groups decided to let “bygones be bygones”.
Macquarie goes after big four’s business lending lunch
The investment bank’s share of small business lending is only 1.7 per cent, but its $15.8 billion book grew by 22 per cent for the year and Macquarie wants more.
Bapcor shapes as takeover target after share price rout
Macquarie says the Autobarn owner is a target after the 24pc plunge in its share price. It had private equity owners more than a decade ago.
- Updated
- Earnings season
Macquarie takes hit on green energy
The investment bank’s chairman Glenn Stevens has warned that fossil fuels, especially gas, will be required “for quite some time to come”.
More congestion, more profit: ex-CEO slams Sydney interchange plan
Ex-NSW roads executives say the controversial Rozelle Interchange was designed to have more congestion to increase the value of WestConnex before it was sold.
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Markets
Economists call for tighter immigration to help RBA’s inflation war
Economists from some of the largest banks are urging the government to restrict migrant visas to help ease the housing crisis that is pushing rents and prices of goods higher.
- Opinion
- Currencies
The two big threats haunting global sharemarkets
Investors appear to have moved on from the news that US interest rates will be higher for longer, but analysts warn of two lurking dangers that risk puncturing their optimism.
Apple’s shares rally after return to sales growth forecast
The tech giant announced $US110 billion in share buybacks and raised the quarterly dividend by 4 per cent.
Father-son duo make $16.7b in 3000pc stock rebound
The shares of Phoenix-based online used-car dealer Carvana have surged from historic lows, but the company still faces challenges.
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.
Opinion
Make this the tipping point on domestic violence
A tighter judicial system, support for families forced to leave violent homes, long-term culture change, and more sophisticated use of data and prediction. Nothing can be left off the table in tackling terror at home.
Editorial
There is so much to be done on violence against women
Maintaining the momentum of this week’s announcements after decades of neglect is the biggest issue facing the anti-violence movement.
Columnist
Central bank independence is dead
Politicians are compromising central banks’ commitments to price stability targets, and the ensuing sticky inflation will require a much tougher cost of capital to extinguish, writes Christopher Joye.
Columnist
The two big threats haunting global sharemarkets
Investors appear to have moved on from the news that US interest rates will be higher for longer, but analysts warn of two lurking dangers that risk puncturing their optimism.
Columnist
Bonza’s grounding strands airline competition too
Had the government dealt with some of the highly public problems of aviation with more alacrity than it has, the failure of one small player would not have seemed such a blow.
Editorial
BHP is betting self-interest trumps politics on Anglo American
Convincing South Africa’s government its $60 billion takeover bid for the mining multinational is politically palatable is part of BHP’s challenge in a particularly complex deal.
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
Why Australia’s domestic violence problem is complicated
The hope is that targeted action, and policies to boost women’s economic security more broadly, can continue to deliver results.
Albanese vows to tackle antisemitism after crisis talks with rabbis
Jewish Australians should feel safe in the classroom and in their neighbourhoods, Prime Minister Anthony Albanese says.
PM blames DPP, bureaucrats for Perth couple bashing, detainee debacle
The Coalition has accused the government of duck-shoving accountability for its pledge to keep the community safe.
Australia to fall 300,000 homes short of Albanese’s target
The housing industry welcomes official recognition that the country will fall short of its goals, but warns demand for new homes is still underestimated.
Foreign students flood appeals tribunal to stay longer
Many student hopefuls who have had their visa application rejected are appealing the decision, often as a means to extend their stay.
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World
- Analysis
- Governance
Investors stirred as Japan’s companies turn focus to profit growth
The Japanese aren’t known for risk-taking, but fledgling signs in the corporate world show a huge shift could be under way as non-core businesses get spun off.
‘Twenty-five times salary’: Goldman scraps bonus cap for bankers
Goldman will allow star traders and deal makers to earn up to 25 times their salary. The bank is trying to make London more attractive to top bankers after Brexit.
Why anger is rising over Japan’s ‘dangerously’ weak yen
Ryohei Kim is furious at the Bank of Japan because of the record-low yen and the impact it is having on his beloved video games.
- Analysis
- US politics
A bystander to ’60s protests, Biden now becomes a target
The protests pose two political risks to Joe Biden. They could worsen his estrangement with the left and feed into a narrative that he has presided over disarray.
China’s supercarrier is about to launch. Only one nation can beat her
The Fujian, China’s newest, biggest and most powerful aircraft carrier, is about to go to sea. What does that mean for the balance of naval power?
Property
- 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.
Sydney couple down $700,000 trying to demolish old house
Ali and Amanda Hassan are fighting a long and costly battle with their council to convert a run-down dental surgery into a modern duplex.
Former treasurer Josh Frydenberg lists family home
Former treasurer Josh Frydenberg and his lawyer wife Amie have listed their family home in Melbourne’s Hawthorn.
$10b housing fund should be doubled, community providers say
The massive response to the federal government’s first tender to develop affordable and social rental housing shows more funding is needed, developers say.
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.
Wealth
Not just cruises: Boomers direct spending to kids and grandkids
Financial advisors report many over-65s are helping family members rather than splurging – though travel is a thing.
‘Larger than life’: packed memorial farewells Lang Walker
Friday’s two-hour public service for the property developer and Rich Lister, who died in January, was attended by a who’s who of Australian business and politics.
Inside Australia’s most luxurious retirement pads
Rooftop pools, plush libraries and temperature-controlled wine cellars – welcome to deluxe retirement living.
Technology
615,000 customers locked out of super accounts by Google fail
The super fund has blamed Google’s cloud computing services for the prolonged outage.
- Opinion
- Digital Life
Why Apple’s earnings call gives us hope for more exciting new devices
iPad and iPhone sales have dropped. But Tim Cook said something that could make us all want to upgrade, writes John Davidson.
‘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
Pioneering CEO reveals the truth about four-day work weeks
Workplace consultancy Inventium was the first company in Australia to adopt a shorter schedule, but three years later it is not on track to hit its targets.
How this musician landed a job in AI that didn’t exist a year ago
Welcome to our fortnightly AFR series featuring professionals who have made a big career leap into the unknown.
Life & Luxury
This week’s edit of lovely luxuries for Mother’s Day
From active mums to working mums and even sleep-deprived mums, we have inspired gift ideas for the maternal figure in your life right here.
‘I loved’ my old accounting job – surprise confession from opera star
Baritone Teddy Tahu Rhodes is nostalgic about his days working with spreadsheets before he quit the world of finance to fulfil his musical ambitions.
The nine things every man needs to know about prostate cancer now
Experts at the cutting edge of new research into the causes and treatments answer the questions you might be afraid to ask.
Inside the fight for smartphone-free childhoods
A rising number of parents around the world, who have become addicted to handheld devices themselves, want to ban under-16s from having them.
The best Mother’s Day gadget gifts – ranked by price
How much do I love you? Let me count the dollars. This year’s guide doubles as a handy reckoner, revealing how you feel about the matriarch in your life.
