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Federal government backs gas imports to southern states
The extra gas will need to be delivered from the northern states from a re-tooled national gas network or LNG import terminals.
- Updated
- WA budget
WA infrastructure spending goes ‘up another gear’
Premier Roger Cook has vowed to shift infrastructure spending “up another gear” as the state splashed billions on cost-of-living and housing, to absorb the record 95,000 people who moved west last year.
Shares smashed as optimistic shoppers prove no match for retail weakness
JB Hi-Fi and Baby Bunting were among stocks to slide amid disappointing earnings. But new Barrenjoey analysis suggests that the worst may have passed.
Stokes’ anti-AFR price hike could breach competition law: Samuel
Billionaire Kerry Stokes has faced political criticism - and calls for an ACCC investigation - for forcing The Australian Financial Review print edition out of his home state of WA.
Perpetual backer Soul Patts says board got a good price out of KKR
The investment company, which holds nearly 15 per cent of Perpetual, believes the trust and wealth businesses have been traded for more than it was ever willing to pay.
Let first home buyers drain super for property: Senate committee
First home buyers should be able to withdraw all their retirement savings to buy a house, a Coalition-dominated Senate committee has found.
Shares fall; Baby Bunting crashes, retailers dive, banks drop
Shares slip 1.1pc. Retail worries mount on multiple trading updates. CBA’s profit slips 5pc, consumer debts creep higher. Westfield lifts investment after Bondi attack. Follow here.
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Companies
- Updated
- Manufacturing
Orica says lower input costs offsetting fall in revenues
The commercial explosives maker has reported a 10 per cent increase in earnings, beating analyst estimates.
Westfield Bondi owner says shoppers are back after horror attack
Scentre chief executive Elliott Rusanow said the mall operator had increased security spending as it returned to a “different” normal after the fatal attack.
- Updated
- Earnings season
CBA profit falls to $2.4b but ‘momentum’ improves
Lower margins reduced profits at the country’s largest bank over the last three months, as higher interest rates saw late loan repayments rise.
PSC takeover delivers $350m payday for insurance broker
Analysts say Ardonagh’s offer of $2.3 billion for the Melbourne-based insurance broker represents an “attractive multiple” as chairman Paul Dwyer realises a huge windfall.
After losing a deal, Stokes’ newspaper pursued Forrest
The West Australian published dozens of critical articles about Fortescue’s founder after he refused to buy trucks from a related company.
AFR to stop printing in WA after Seven’s ‘abuse of power’
Nine has been forced to pull its print editions of The Australian Financial Review from Perth after Seven West Media demanded double the cost of printing.
- Exclusive
- Wage scandal
Accenture warned of ‘$40m back-pay risk’ for overtime
A former human resources executive claims she warned Accenture’s board it was at risk of having to pay up to $40 million to staff who worked excessive hours.
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Markets
Stock rally ‘too good to be true’, warn CIOs
Investment chiefs say the market looks too expensive given the uncertain economic backdrop and that there’s good reason to be cautious for the rest of this year.
Investors are set to pile into Australia’s first green bond
European fund managers are backing the federal government’s plans to shed its reputation as a coal polluter, with its $7 billion bond looking well oversubscribed.
Argentina launches 10,000-peso notes, worth $17, as inflation bites
The new note, worth five times more than the previous largest note, was introduced as Argentina’s annual inflation rate reached 287 per cent in March.
Why Rio Tinto is worth more than its $130 price tag
Maple-Brown Abbott’s Emma Pringle is betting the iron ore giant’s share price has more room to run. She’s also bullish on Healius despite a shaky 12 months.
Some fundies unconvinced the RBA’s done with rate increases
Fortlake Asset Management’s Christian Baylis has joined a small number of economists who expect rates to rise, not fall. He says inflation isn’t under control.
Opinion
No place for antisemitic incitement on campus
The protests that reduce the complex history of the Middle East to simplistic anti-Zionist slogans hardly align with universities’ founding institutional mission.
Editorial
Why Albanese is going all in on gas
The Labor government has infuriated climate activists by insisting that gas will play a crucial role in the energy transition for many decades to come. Big producers like Woodside will wait to see what that means.
Columnist
We will need new sources of gas
Australia is committed to reaching net zero emissions by 2050, and we will need gas to get there.
Resources Minister
Half-priced detergent every few weeks? Shoppers can smell a rat
Deep food and grocery discounts have become increasingly popular with consumers, but the cost is unfairly borne by suppliers, prompting calls for change.
Columnist
A responsible pre-election budget is a delicate balancing act
The treasurer must not stimulate the economy, but cannot ignore the fact that some Australians are bearing more than their share of the pain.
Budget expert
Why now is not the time for Palestinian statehood
We cannot just hope that Hamas will lay down its arms – it will never happen. Nor can we hope that an alternative Palestinian Authority will emerge. We need to demand it, as a pre-condition of any form of recognition.
Contributor
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
Australia’s defence chief rejects Chinese spying claims
In his first comments on dramatic helicopter near miss, General Angus Campbell said a Chinese pilot had acted unsafely and unprofessionally.
WA taps Albanese for $200m critical minerals hub
WA has earmarked land near where Alcoa is closing its alumina refinery and a BHP nickel refinery is hanging by a thread for a critical minerals processing hub it wants the Albanese government to co-fund.
- Exclusive
- Federal budget
The budget is already adding to inflation
The federal budget has injected $22 billion of new policy spending over two years, which economists say will cause higher interest rates than necessary and delay any rate cuts.
Let first home buyers drain super for property: Senate committee
First home buyers should be able to withdraw all their retirement savings to buy a house, a Coalition-dominated Senate committee has found.
The winners and losers in WA’s budget
Households and prospective home buyers are expected to benefit from new spending measures, while there is no additional funding for farmers, and still no changes to the state’s payroll tax system.
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World
Russia not looking for global power clash: Putin
Vladimir Putin now casts the war as part of a holy struggle with the West, which he says has forgotten the role played by the Soviet Union in defeating Nazi Germany.
Biden says US will not supply weapons for attack on Rafah
The US president’s ultimatum is aimed at trying to deter Israel’s planned operation in Gaza.
China’s exports return to growth in boost to shaky economy
China’s exports edged higher in dollar terms last month as Beijing pinned its hopes on a manufacturing-led revival to boost flagging growth.
- Analysis
- Electric vehicles
This is how China’s car dealers are driving the EV revolution
Chinese car dealers are ditching foreign brands slow to respond to the EV transition, while turning to homegrown makers that have been gobbling up market share.
- Analysis
- Inside China
China’s flood of cheap exports is about to get worse
EU leaders were this week the latest to scold China about overcapacity, but there are no quick fixes to its factory glut.
Property
Why $800,000 homes are in hot demand
Competitive pressure is building up in this segment of the market as investors and first-home buyers return in droves.
Goodman’s data centre push gathers speed
Occupancy across Goodman’s China portfolio was 93 per cent over the March quarter, compared with 98 per cent across its overall portfolio.
Government’s $91m tradie plan only ‘modest’ boost for home building
Australia’s target of 1.2 million new homes is a crisis of surging demand and a construction workforce facing its own demographic challenges.
Dutch pension fund giant puts $700m into Sydney build-to-rent start-up
Apt.Residential has won the backing of PGGM, which has committed $700m to the rollout of 2500 apartments.
- Exclusive
- Luxury property
Cotton On CFO lists Melbourne mansion with a contemporary twist
Cotton On CFO Michael Hardwick and his wife Diana have put their Melbourne mansion on the market guiding up to $13.75m after a major renovation.
Wealth
A smarter way to tax high super balances
The government has tried to keep things simple, but in doing so fairness has gone out the window.
Coalition to oppose ‘sophisticated investor’ test overhaul
Labor is grappling with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
We have $700,000 in super – can we buy investment property with it?
If you want to add a geared investment property to your retirement savings, here’s what you must think about.
Technology
Ex CSIRO boss would pick different ‘winners’ in $1b quantum push
Larry Marshall, former CEO of CSIRO, says taxpayer money should be targeted at points in the quantum computing supply chain, not the finished product.
- Exclusive
- Executive shake-up
New Uber bosses to see through gig economy transition
There will be new heads of both Uber and Uber Eats in Australia, ahead of gig economy rules that threaten to significantly raise its cost of doing business.
- Opinion
- Digital Life
Will Apple’s new iPad Pro finally replace your laptop?
Apple says its new M4 iPad Pros will have better AI, better performance and better battery life than laptops. But don’t throw away your laptop just yet.
Work & Careers
‘The gap below Cartier and Tiffany’: Michael Hill’s luxury play
ASX-listed jeweller Michael Hill has been undergoing a major rebranding exercise.
Melbourne shuns office return, Sydney coaxed by redundancy fears
New figures also show Canberra has the second-lowest office attendance rates as public service workers do not face the same scrutiny as Sydney’s private sector.
Life & Luxury
The 10 best private dining rooms in Australia
Whether it’s for a corporate event, a birthday, or just because, these venues take a lot of beating for excellent food, top wines and exclusive service.
How TikTok changed fashion
Trends in what people wear, whether hemlines, colours or the way they think about and shop for clothes, no longer begin with designers or even influencers.
Brisbane’s best restaurants for a business lunch
Where to go when you’ve got a deal to discuss, when you want to impress your top client or thank the team – as tested by our reviewers.
Where to dine for business in Canberra, Darwin, Hobart and Launceston
Where to go when you’ve got a deal to discuss, when you want to impress your top client or thank the team – as tested by our reviewers.
Could this gym’s new $60,820 membership really help you live longer?
US fitness chain Equinox’s latest offer includes high-touch exercise, nutrition and sleep coaching “based on members’ unique biodata” taken from blood tests.
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