- Opinion
- Chanticleer
Why Nuix will find trust hard to rebuild
Nuix says it will improve its transparency and governance. But its messy revenue model may make it hard for the company to set and meet financial targets.
- Live
- Markets Live
ASX adds 0.6pc; VGI Partners’ Luciano defends LIC; Nuix up
Australian stocks close higher; Nuix chief executive takes “full responsibility” for business after share slide; Sales boost helps James Hardie to grow profits; Warren Buffett reduces financials stakes.
Rise in global inflation is temporary: RBA
The Reserve Bank says the most important source of uncertainty for the domestic outlook is the path for household consumption.
Nuix apologises for failings, shares rebound
Nuix committed to reviewing its internal governance and communicating better with shareholders, with its chairman saying it was unprepared for listed life.
- Opinion
- Chanticleer
‘Ponzi, Ponzi, Ponzi’: crypto’s dumb joke says plenty
The ‘endorsement’ of a minor crypto coin by a US internet celebrity highlights how parts of this sector have become a little more than a pump-and-dump game.
- Live
- Need to Know
ACTU warns employers can cut pay to fund super boost
ACTU boss Sally McManus says employers will be able dig into workers’ salaries to pay for July’s mandatory super increase. Follow updates here.
WA’s worsening labour shortage hits gold miner
St Barbara says labour and skill shortages are partly to blame for a big production downgrade at it operations in WA.
Companies
Crown’s ‘belligerence’ slowed China inquiry: regulator
The Victorian gaming regulator has slammed Crown for being “unnecessarily belligerent” and slowing its inquiry into the arrests of the casino giant’s staff in China.
Juukan traditional owners ‘committed’ to rebuilding Rio relations
A year after destruction of Juukan Gorge, traditional owners say evidence to an inquiry exacerbated their hurt but they are committed to working with Rio Tinto.
James Hardie warns of build-up in inflation pressure
The building products group will have to wear up to $193m in extra costs but says housing construction is booming.
Imugene pens global patent licensing deal with LA-based research centre
ASX-listed immuno-oncology company has entered a deal with City of Hope for a novel cancer therapy targeting solid tumours that would otherwise be tough to treat.
Woodside faces $77m hit to exit stalled Canadian LNG project
Acting chief executive Meg O’Neill said the decision would allow Woodside to focus on the successful delivery of higher value projects in Australia and Senegal.
Big supermarkets sign pact to end plastic packaging waste
Nearly 60 organisations in Australia, New Zealand and the Pacific have signed the deal to make all plastic packaging reusable, recyclable or compostable by 2025.
- Exclusive
- Skills shortage
Tech salaries surge as companies battle rigid visa laws
Seek data reveals that salaries for tech jobs that are tough to recruit for both locally and offshore are surging, while others are declining.
Markets
Racing commodity prices beginning to look ‘stretched’
After enjoying their strongest 12-month rally in almost 50 years, commodities including iron ore and copper are showing signs their valuations aren’t sustainable.
VGI’s Luciano defends returns, touts restructure
Robert Luciano says the fund’s stable capital structure will give it an advantage as markets hit turbulence.
- Opinion
- Monetary policy
The RBA is flying blind on inflation
It is misleading and dangerous for the central bank to say interest rates will stay low until 2024. There is no certainty when inflation will rise in a world disrupted by COVID-19.
Silicon Valley’s Inflection.com pitches Aussie funds for IPO
Global background screening software company Inflection.com is considering a listing on the Australian Securities Exchange that could value it at as much as $450 million.
Elon Musk blows up Wall Street’s case for bitcoin
About a quarter of bitcoin’s value has been wiped away in the span of a week, in part thanks to headspinning tweets from Elon Musk.
Opinion
Netanyahu’s master plan for Israel and Palestine has failed
If he clings to power it would show the Israeli PM remains a master political tactician but the upsurge of violence has undermined his claim to be a statesman.
Columnist
Labor’s wage hypocrisy
If boosting wages is as easy as borrowing and spending, then why isn’t the labour movement up in arms about Victorian Labor’s ‘austerity’ budget?
Editorial
Where have all the Liberal Party ‘Dries’ gone?
Is the internal contest of ideas inside a more tribalised Liberal Party no longer about Wet versus Dry economics, and really about culture war social issues?
Editorial
Who to blame for the plastic peril?
A handful of companies and their investors could make all the difference to a world that’s awash in plastic waste.
Contributor
Refining hubs primed for greener future
Ampol’s Lytton site in Brisbane and Viva’s Geelong venture look to have secured an opportunity to move with the times.
Senior resources writer
The big disconnect: My telco trauma
Moving house translates into a telco ordeal, courtesy of Telstra and NBN Co. No end in sight. How is this still happening?
Columnist
Politics
PM criticises Virgin boss over ‘deadly’ border opening call
Scott Morrison says Jayne Hrdlicka’s comments are “insensitive” and international travel will only resume when safe to do so.
Frydenberg hits back at claims budget isn’t a ‘Liberal’ one
Treasurer Josh Frydenberg dismissed criticisms he delivered a Labor-style budget and said the government is examining how travel restrictions could be eased.
- Opinion
- Platinum Year
China confrontation: what were we thinking?
Australia’s policy U-turn on China came in response to the intelligence community identifying alarming Chinese objectives to corrupt our political system, writes Max Suich in part two of a three-part series.
PM pounces on Labor tax grab
Such increases are the last thing the economy needs now, because they would ‘unquestionably’ slow the recovery, says Scott Morrison.
Reverse mortgages to ‘unlock’ $500b in home equity for retirees
The government will shake up its reverse mortgage product so more retirees can fund their post-work lifestyles while remaining in their home.
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World
UK government split over Australia trade deal
Boris Johnson’s cabinet is worried about political fallout and backlash from agriculture sector if UK grants tariff-free access to farming produce.
Indian variant hits Britain’s unvaccinated
Prime Minister Boris Johnson is pressured over his plans for lockdown easing, as the south Asian COVID-19 strain hospitalises those who haven’t been jabbed.
Biden expresses support for ceasefire in Netanyahu call
US President Joe Biden expressed support for a ceasefire between Israel and Gaza’s militant Hamas rulers, but stopped short of demanding an immediate stop to airstrikes.
Israel brushes off call to delay trade talks over Gaza violence
Israel’s top diplomat says Palestinian group Hamas bears the burden for civilian casualties in Gaza.
Indonesia leads regional condemnation of Israel
The world’s biggest Muslim nation has never wavered in its support for the Palestinians.
Property
Developers count on downsizer rush from federal budget
The government’s move to make it easier to put a housing windfall tax-free into super will benefit wealthier home owners over less wealthy ones.
Charter Hall spends big on $780 million commercial portfolio
Charter Hall has bought big again with its latest $780 million property portfolio acquisition, taking its spending this financial year to $7 billion.
Macquarie Bank’s top earner buys $40m trophy home
Agents say Nick O’Kane’s purchase of Sydney’s most expensive house sold this year comes as buyers battle it out for a dwindling number of prestige homes.
Steven Mnuchin sells Manhattan pad after 21pc price cut
The former Treasury Secretary under US President Donald Trump reduced the $US32.5 million figure on the storied Park Ave co-op as buyers now prefer new condos.
Victoria’s property tax hit ‘will drive out’ big business
The turbo-charged land tax is among a suite of property stings included in Victoria’s budget, and commercial property owners say the timing couldn’t be worse.
Wealth
- Opinion
- Big four
How the big four stack up
Dividends are now at levels far more sustainable than pre-coronavirus levels, reconfirming the banks as a long-term investment for income-seeking investors.
Reverse mortgages to ‘unlock’ $500b in home equity for retirees
The government will shake up its reverse mortgage product so more retirees can fund their post-work lifestyles while remaining in their home.
Early super withdrawals cost $4.7 billion in lost returns
The left-leaning McKell Institute says people who withdrew their superannuation missed out on an “investment windfall” from the stock market recovery.
Technology
- Exclusive
- Phones
Why Holcim is ditching computers for phones
With phones getting more powerful with every passing year, concrete giant Holcim is phasing out laptops and desktop PCs, for almost all of its staff.
- Opinion
- Tech crackdown
Market questions critical for curbing big tech’s abuse of power
Last week’s €100 million fine for Google’s abuse of power in the automobile market throws into stark relief a big question facing big tech: just what is a market?
- Opinion
- Venture capital
Maggie Beer spent half the company value to get on e-commerce train
Acquiring Hampers and Gifts Australia lets Maggie Beer Holdings double down on e-commerce while broadening its product base. So why was the price a mere 4.4 times earnings?
Work & Careers
‘Not taboo to ask’: employers sign up to family-friendly push
Australia’s largest employers are signing up to be certified as “Family Friendly Workplaces” as offices adjust to the post-pandemic world.
Why was Edith Cowan University pushing its brand at the FA Cup?
Small Perth-based Edith Cowan University’s brand was eyeballed by a global audience of millions during the FA Cup final. The question is why.
Life & Luxury
Jeweller shares the love with a Pretty Woman collection
When the French house Fred agreed to make a diamond and ruby necklace for a risqué romcom starring Julia Roberts, it had no inkling of what a hit it would be.
Melbourne puts on the ritz with 80 Collins Street
The city’s new $1.5 billion precinct is a buzzy collection of offices, luxury shopping, restaurants, cafes, bars and a boutique hotel. Here are nine gems.
How a top kitesurfer invented the electric Fliteboard
A windless day inspired record-breaking kitesurfer David Trewern to create a company that has been capturing the imagination of watersport enthusiasts.
Richard Clapton wants 70-year-olds back on the streets
The ‘Girls On The Avenue’ hitmaker hopes a new album of hippie-era covers will remind his generation of their ideals.
A swag of snags – where Aussie English came from
The convict author of Australia’s very first dictionary would be delighted to know many “flash” terms from his day still linger on in our everyday lexicon.
