The COVID-19 outbreak Australia had to have
With Melbourne in lockdown, the renewed risk of infections is driving faster take-up of vaccines across the country and helping shake complacency.
How to invest at a record high
We’ve come to an important juncture for investors, but fund managers have very different views on the outlook for the economy and markets - and on the best way to invest.
Stocks to deliver the best year in a decade
The tub-thumping rally in Australian shares has prompted equity analysts to ramp up their forecasts for the year.
The Harris Farm brothers are looking to turbocharge growth
After years of knocking back offers, Angus, Luke and Tristan Harris are looking for a capital injection to double their stores across the country.
PM calls in military to speed up vaccine rollout
Scott Morrison has enlisted a general to take command of the vaccine rollout, saying he wants a similar unrelenting approach as was taken to stopping the boats.
- Opinion
- Federal politics
A government that isn’t really in control of anything
The past two weeks of Parliament are not consistent with the Morrison government’s strategy of winning an election based on its excellent management of the pandemic.
Melbourne outbreak takes a dangerous turn
New research suggests the appearance of the delta variant in Melbourne could result in a doubling of hospitalisation rates.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
Companies
Rio’s Indigenous trailblazer accuses green groups of exploitation
Former WA treasurer Ben Wyatt has blasted conservationists and activist investor groups he says are trying to exploit Aboriginal culture for their own agendas.
Oil and gas set to deliver profitable last gasp
Rapidly escalating ESG concerns are among factors that have rapidly shrunk capital available for oil investment worldwide, pointing to higher prices as demand continues.
Crown spent $2.5b on marketing, $1.9m on problem gamblers
Responsible gambling is a central issue in the royal commission looking into Crown’s suitability to hold Victoria’s sole casino licence.
Taxpayers prop up Genex Power’s pumped hydro project
Genex Power’s Kidston pumped hydro project is loved by the clean energy sector, but it’s been taxpayers dollars that have helped it across the line.
Directors’ club whacks proxy ‘oligopoly’
The Australian Institute of Company Directors hits out at the ‘high market concentration’ of proxy advisers but knocks back Treasury’s proposal to ban ACSI.
The secret stoushes of a machinist-turned-millionaire
Mining chairman Craig Ransley has made millions and fought off criminal charges. But one little-known fight saw his own board hire PwC to investigate.
The Reject Shop stores hit by CBD exodus
The Reject Shop has only a minimal e-commerce offering but CEO Andre Reich says it is bringing a younger demographic.
Companies in the News
Commonwealth Bank
Macquarie Group
National Australia Bank
Updated: Jun 4, 2021 – 4.38pm. Data is 20 mins delayed.
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Markets
Australia’s economy overtakes Brazil, nears Russia’s
Australia’s economy is now larger than Brazil’s and could overtake Russia after surging iron ore prices helped lift the nominal national output of goods and services to a six-year high.
Stocks to deliver the best year in a decade
The tub-thumping rally in Australian shares has prompted equity analysts to ramp up their forecasts for the year.
‘Don’t be spooked by Biden ban,’ fundies tell local China investors
Australian fund managers have warned their investors to maintain exposure to the world’s second-largest equities market, after the US government expanded its blacklist of Chinese companies.
ASX finishes week at record high
The Australian sharemarket rose to a record high this week, supported by a surge from the local energy sector, shrugging off concerns over Victoria’s extended lockdown.
Australian dollar drops as greenback gets green light
Stronger than expected US economic data bolstered the currency and knocked the wind out of commodity currencies including the Aussie.
Opinion
A government that isn’t really in control of anything
The past two weeks of Parliament are not consistent with the Morrison government’s strategy of winning an election based on its excellent management of the pandemic.
Columnist
In Canberra, Daniel Andrews’ government is now a protected species
Scott Morrison’s refusal to criticise Victoria reflects his discipline as a political leader and strategy for winning the federal election, Aaron Patrick writes.
Senior correspondent
Frustration builds as Melbourne kept in the dark
Melbourne’s lockdown muscle memory has kicked in quickly this time around, but there’s a growing sense of frustration about what the city is trying to achieve.
Columnist
History shows energy transition is for the good
Australia needs to reframe the whole debate about heading into a low-carbon future from culture warfare to something rational and positive.
Editorial
RBA’s ‘flexible’ QE may be coming
When the RBA unveils its highly anticipated monetary policy decision next month, governor Philip Lowe may be wise to give himself flexibility.
Economics editor
Funding offer hands lockdown control back to the feds
In a wonderful piece of passive-aggressive politics, the Commonwealth has gained an element of control over the states it has long been seeking.
Political editor
Politics
- Analysis
- Australian economy
Why this economic recovery is different
Incredibly, during the COVID-19 recession, household incomes rose and business profits increased, leaving consumers and companies well placed to drive the next phase of the economic recovery, writes John Kehoe.
Melbourne outbreak takes a dangerous turn with mystery mutant cases
New research suggests the appearance of the delta variant in Melbourne could result in a doubling of hospitalisation rates.
Higgins rape report reveals 38 new allegations against MPs
A report sparked by Brittany Higgins’ rape allegations has found a culture of “minimising, normalising and keeping quiet” bad behaviour at Parliament.
‘Get back to the office’: PM
Business leaders say Victoria’s return to lockdown could stall momentum to get employees back to their pre-pandemic workplaces.
‘Deeply offensive’: Morrison slams ABC over conspiracy theory link
In the latest fight between the government and the broadcaster, the ABC boss insists the story about the QAnon conspiracy theory has not been pulled or blocked.
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World
Japan’s Olympic race ramps up as first Aussie athletes arrive
Australian softballers were the first athletes to land in Japan for the Tokyo Games, but their preparation is anything but typical.
Lessons for Australia from Asia’s COVID-19 horror show
Singapore has learnt how to hold the line but its close neighbour Malaysia is getting crushed.
ASEAN fiddles while Myanmar burns
ASEAN members can’t agree on the next step as aid agencies warn Myanmar’s health system is on the verge of collapse.
Fauci calls on China to release medical records of Wuhan lab workers
The US infectious disease expert says the records could help resolve the debate over the origins of the virus that has killed more than 3.5 million people worldwide.
Netanyahu attacks ‘dangerous’ coalition in fight for political life
Israeli Prime Minister Benjamin Netanyahu scorned as ‘dangerous’ a cross-partisan coalition cobbled together by his rivals to unseat him.
Property
Investors extend lead over first home buyers
Investment borrowing levels are not back to the highs that last prompted macroprudential action, but economists say regulators are watching closely.
First look inside the Badgerys Creek airport terminal
Brookfield-owned Multiplex has won the plum job of building a passenger terminal at the new Western Sydney International Airport.
Ex-banker buys $9m house next door for Sydney compound
David Di Pilla, who is chairman of ASX-listed property investment group Home Consortium, has purchased his neighbour’s property in Bellevue Hill.
Hong Kong parking spot sells for record $1.7m
The sale at the luxury Mount Nicholson residential project overlooking the city shows buyers’ confidence is returning to the prestige homes market.
- Breaking
- Commercial real estate
Australian Unity rejects $2.7b bid for healthcare fund
Australian Unity called the Canadian suitor’s efforts to highlight the increases in its offers ‘meaningless’.
Wealth
- Opinion
- Flat Chat
Green means go for well-run unit blocks
How investing in sustainability can make perfect sense for your property portfolio.
- Opinion
- Sharemarket
Barclays has further to go in post-pandemic revival
Further reserves releases will lift profits and allow the prospect of higher capital returns from dividends and share repurchases.
How to stop a property seller from tricking you into paying more
Just because you’ve signed the paperwork doesn’t mean the deal is sealed.
Technology
- Opinion
- Mergers & acquisitions
How Airtasker ended up buying a movie star-backed former tech darling
Zaarly was once a genuine tech darling, a marketplace that caught the attention of big name investors and Hollywood stars. In May Airtasker bought it for just $3.4 million.
Twitter chooses Australia to try out new paid service
The social media platform wants users to pay $4.49 a month to access special features and perks.
Optus Sport secures FIFA 2023 Women’s World Cup
The telco will stream all 64 World Cup matches live and wants to partner with a free-to-air network to co-broadcast all Matildas matches.
Work & Careers
School closures come at a high price for children
Closing Victoria’s schools is not a zero-sum activity, with the negative impacts likely to flow on to academic performance and psychological health.
KPMG appoints new partner as Sayers partner departs
Sayers Group partner Nikhil de Silva has moved to Amazon Web Services, while Kathleen Conner has joined KPMG as a Sydney-based partner.
Life & Luxury
The message from Fashion Week: get up, get dressed, go out
It’s time to get dressed up again – big, bold fashion is in again.
Portrait of previous winner takes out Archibald Prize
Peter Wegner has won the $100,000 portraiture prize with a subject born in the same year it was first awarded.
German Film Festival swings from dark intensity to romance
For fans of German cinema it will be no surprise there are few laughs to be had from the 30 films in this year’s selection, but there are rewards to be had.
John Olsen’s vision blazes brightly in new exhibition
Works not seen in public for decades will be on show at a major exhibition by the 93-year-old artist.
Archie 100 paints alternative portrait of the Archibald Prize
A new exhibition argues the most interesting Archibald Prize entries weren’t always the winners.
