Team Australia’s rallying cry for faster, safer reopening
States must abandon their fixation with zero daily cases of coronavirus or the country will be left behind economically, say business and political leaders.
Gupta fights to secure $6b lifeline
Sanjeev Gupta’s GFG Alliance is trying to get short-term funding from Greensill’s administrators, Grant Thornton, so it can manage its way through the crisis.
Meet the three new women set to join the Rich List
The owners of retail brands Decjuba, Mecca and Culture Kings are poised to join the Financial Review Rich List in May.
PayPal to tackle Afterpay amid share rout
Afterpay shares are almost 60 per cent off their peak a month ago, as sentiment around buy now, pay later turns savagely amid rising competition.
OECD ups Australia’s growth to 4.5pc
Josh Frydenberg has welcomed the latest OECD economic snapshot, which shows stronger than expected growth in the Australian economy.
BlackRock did nothing on Rio Tinto
BlackRock gave Rio Tinto the cover to disregard the deep alarm of Australian investors.
Work from home should spark rethink of city planning: Albanese
The traditional hub and spoke model of Australian cites could be on the way out, the Federal Opposition Leader says.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
FINANCIAL REVIEW BUSINESS SUMMIT
Work from home should spark rethink of city planning: Albanese
The traditional hub and spoke model of Australian cites could be on the way out, the Federal Opposition Leader says.
- Opinion
- Chanticleer
Despite global volatility, we now have a COVID-19 blueprint
The rollout of COVID-19 vaccines is giving NSW Premier Gladys Berejiklian and Qantas chief executive Alan Joyce the confidence to put forward a plan for keeping the borders open.
‘The office is not dead’: CEOs sceptical about working from home
The pandemic has not killed the office and the CBD will be back at almost full capacity by next year, corporate leaders say.
Investors on cheap money ‘morphine’ risk asset bubbles
Central banks and governments must start considering exit strategies from record fiscal and monetary stimulus that has rapidly raised the risk of asset price bubbles and ‘market accidents’ which could trigger the next financial crisis.
What business leaders learnt from the pandemic
Top CEOs and leadership experts had to scramble to keep up with the changes wreaked by the pandemic. Here’s what they’re doing differently.
THE SURE THING PODCAST
- Opinion
- The Sure Thing
How white-collar criminals sleep easy at night
A researcher who has spent the past decade in prisons across the US and Australia says there are four main ways white-collar criminals justify their actions.
- Exclusive
- The Sure Thing
Insider trader paid for $2.4m Block apartment with 25-minute trade
Lukas Kamay paid $2.375 million for an apartment from TV show The Block with a single trade that took just 25 minutes, while taunting police as they struggled to catch him.
Listen now: The Sure Thing episode 3
In one trade, Lukas Kamay took out more than $450 million of exposure to the Australian dollar and the police had no idea how to catch Kamay and his accomplice, Christopher Hill. New episodes every Monday 6am.
- Exclusive
- The Sure Thing
ABS insider trader was ‘susceptible to blackmail’
Chris Hill failed an Australian government psychological evaluation before he began passing confidential information to his university friend, Lukas Kamay.
Revealed: the raid that set off Australia’s biggest insider-trading case
Fifteen officers, two sniffer dogs and a locked bedroom door. It was May 9, 2014, and Christopher Hill was just about to find out exactly what his partner-in-crime had been up to.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
Companies
Gupta rushes to stop fallout from Greensill collapse
In an ironic twist, GFG Alliance’s Australian operations, employing 6500 people, are in a better operating position than when they went bust in 2016.
- Exclusive
- Super wars
APRA probes Maritime Super-Hostplus deal
APRA is probing the $61 billion superannuation pooling arrangement between two industry super funds to determine if the deal is in members’ best interests.
Loyalty broken by pay cuts pushes big four staff to industry
Aggressive hiring of in-house risk and compliance workers by the banks is adding another element to the growing staffing problems at the big four consulting firms.
Decommissioning body to help ease $52b headache
The new Centre of Decommissioning Australia will look to cut the cost of disposing of offshore platforms and rigs.
- Opinion
- Chanticleer
Nicholas Moore’s sanguine inflation message
There are two good reasons why Nicholas Moore believes inflation may be some way off.
- Opinion
- Chanticleer
Skittish market fears Greensill contagion
The spectacular gyrations in IAG’s share price on Tuesday underscore fears about contagion from Greensill’s collapse, even if it looks relatively quarantined.
Up to 15pc of frozen home loans to tip into arrears
The shake-out of problematic loans will become more visible in the second half of this year, ratings agency S&P Global says.
Markets
Deliveroo pedalling fast to market
Deliveroo has unveiled plans to capitalise on the strong investor appetite for online food delivery services with a London sharemarket debut.
Temasek backs Aussie impact firm with $US500m investment
The backing for Australian-led LeapFrog appears to be the largest ever for an impact investing fund.
- Opinion
- Chanticleer
Skittish market fears Greensill contagion
The spectacular gyrations in IAG’s share price on Tuesday underscore fears about contagion from Greensill’s collapse, even if it looks relatively quarantined.
Nowhere to hide from market’s growth traps
The prospect of higher inflation has reduced the appeal of shares in loss-making tech companies that have attracted juicy valuations, Emma Fisher says.
ASX rises 0.5pc but tech takes a beating
Stocks closed firmer on Tuesday but tech took a beating, with growth stocks again under the pump and elevated bond yields showing no sign of easing.
Opinion
Team Australia’s comeback mustn’t stall now
The worry at The Australian Financial Review Business Summit was that the next phase of Team Australia’s comeback against the pandemic is in danger of stalling if shutdowns and border closures return.
Editorial
Australia pushes through economic ‘pickle’ with China
The strength of the iron ore market and domestic recovery have insulated the Australian economy from the deterioration in our relationship with China. How sustainable is that?
Columnist
Oil’s wild ride unlikely to end soon
The past year has proved a wild ride for the oil industry, with the price of “black gold” briefly dipping into negative territory, before rebounding to pre-pandemic levels.
Columnist
Australia’s dilemma is getting out of the gilded cage
To reopen the international borders once the vaccine rollout is complete, the political narrative and public expectations about zero cases must change.
Contributor
Smith Family partnership promotes genuine opportunity
Through our new partnership with The Smith Family, The Australian Financial Review will – in a hands-on way – live our purpose of promoting genuine opportunity and widespread prosperity.
Editorial
How Garnaut’s ‘Reset’ got it wrong
Ross Garnaut is wrong to fault the Reserve Bank for not cutting rates during the ‘Dog Days’ of 2013-2019. The real culprit was elsewhere.
Contributor
Politics
Interest-free COVID loans for SMEs
The loans will be targeted at small and medium enterprises that are operating in challenged industries, such as hospitality and international tourism, as they’re weaned off the $100 billion JobKeeper subsidy.
‘Politically and morally weak’: AFR readers slam PM’s Porter response
Fifty-one per cent of more than 450 readers disapproved of Scott Morrison’s response in the latest Financial Review reader poll, while 42 per cent gave it the tick of approval.
Government warned on watering-down of continuous disclosure laws
The government wants to relax stock market continuous disclosure rules, making it harder for disgruntled shareholders and class action lawyers to launch civil actions.
Health Minister Greg Hunt in hospital for suspected infection
Health Minister Greg Hunt is the third minister to suffer a health-related ailment in recent weeks.
Big Australia vital to protect the home front: Rudd
Former prime minister Kevin Rudd says Australia faces five “mega-challenges” in the future that need to be tackled or else end up a second-rate country.
SPONSORED
World
Biden faces challenge from surge of migrants at the Mexican border
The problem for the administration is both the number of children crossing the border and what to do with them once they are in custody.
Japan to ban foreign spectators from Tokyo Olympics: report
The Kyodo news agency says the Japanese government has decided not to allow overseas visitors to attend the games amid fears over contagious mutant strains of COVID-19.
- Opinion
- Global economy
Will stagnation follow the Biden boom?
There’s a growing consensus among economists that the US economy spent most of the decade after the 2008 financial crisis producing less and employing fewer people than it should have.
Sanctions reimposed on Israeli billionaire granted relief under Trump
Dan Gertler secured access to mining rights for decades through what the Treasury Department during the Trump administration called a series of corrupt deals.
Thailand jails more protest leaders until trial for royal insults
Protesters had broken traditional taboos by criticising King Maha Vajiralongkorn, risking prosecution under a strict lese majeste law.
Property
Andrew Forrest’s daughter buys $1.8m Sydney penthouse
Actor Sophia Forrest, 26, baulked at the price of a Surry Hills terrace and has instead opted to move into the gentrified suburb of Waterloo.
Up to 15pc of frozen home loans to tip into arrears
The shake-out of problematic loans will become more visible in the second half of this year, ratings agency S&P Global says.
Why Penrith is the new Parramatta
A slew of new projects is set to transform this far west Sydney city from a commuter suburb to a destination in its own right.
Holiday parks rebound after horror year
Holiday park revenue was $92 million higher over the Christmas period while bookings over the Easter long weekend are 332 per cent up on a year ago.
Irongate lifts logistics exposure with Grays warehouse deal
Irongate acquired the Brisbane warehouse of auction house Grays from Sherrin Racing founder Michael Sherrin on a yield of 5.3 per cent.
Wealth
Five booze stocks to sip during the recovery
Alcohol-related companies are rallying as investors bet on easing global COVID-19 restrictions, takeovers and a resumption of the craft-beer boom.
- Opinion
- Gender pay gap
Better career choices key to narrowing gender pay gap
With the pandemic lengthening the time frame to financial gender equality, it’s time at school level to highlight the money implications of job pathways.
- Opinion
- Investing
Three key climate change investment themes
Opportunities include overlooked parts of the world, winners in carbon-intensive industries and a new lease of life for venture and early-stage capital.
Technology
- Updated
- Cyber protection
Cyber agency confirms Aussie firms hit by Microsoft hack
The bugs allowed hackers to gain access to email accounts and to install malicious software that could allow them to get back into a target’s servers at another time – a process known as web-shelling.
- Exclusive
- Regulation
Salesforce boss warns of ‘trust crisis’ facing tech and government
Regulations are out of step with the digital world in which we now live, Salesforce Australia chief executive Pip Marlow says.
Thousands of Aussie businesses hit by Microsoft security flaws
Australian businesses were the fourth largest group affected by vulnerabilities in Microsoft servers after China launched a cyber attack.
Work & Careers
- Exclusive
- Research
We don’t turn enough research into money spinners: Universities head
University researchers are the ‘beating heart’ of the COVID-19 economic recovery but they need business and government to do their bit, says Professor Deborah Terry.
The accidental businesswoman worth $271m
The tourism industry is still struggling in the pandemic but Queensland entrepreneur Jude Turner is among the sector’s few ‘good news’ stories, quietly building an eco-holiday business that now employs 300 people.
Life & Luxury
- Analysis
- Royal family
Meghan and Harry misunderstood royal power
The young couple looked for support from the royal family, not realising that the institution was going to protect itself first.
Why The Rock rethought his energy drink after getting COVID-19
Megawatt actor and entrepreneur Dwayne ‘The Rock’ Johnson discusses his formula for entering a sector that is expected to reach $86 billion by 2025.
Wide open spaces: al fresco events are the new way to travel
As life returns to some sort of normal, Australia’s diverse regions and their spectacular outdoor events are a draw for travellers still unable to go overseas.
Cinema’s Hollywood ending may have to wait
Hollywood films are struggling to recover from the pandemic’s economic effects, particularly in China, the world’s biggest movie market.
For this Rich Lister, hanging around has been a game-changer
Nick Bell says that aside from improving his flexibility and core strength, aerial gymnastics has lifted his mental game.
