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Investors in Raphael Lamm Mark Landau’s L 1 Capital’s listed fund may be in line for a decent distribution.

Multibillion-dollar LIC cash bonanza set to be unleashed

The $54 billion listed investment fund sector is set to deliver a multibillion-dollar cash bonanza to investors due to strong returns and increased pressure to narrow trading discounts.

ASX to rise; AUSTRAC investigates NAB, Crown, SkyCity

Australian shares are poised to reset their record high; Calvary increases offer for Japara; BGH Capital bids for Hansen Technologies. Follow the latest here.

The Fearless Girl Statue in Federation Square dons a face mask.

New exposure sites in Melbourne

Another 15 exposure sites added in Melbourne including a train line; business demands end to Melbourne lockdown; a new royal baby; Trump wants $10 trillion from China for COVID-19. Follow updates here.

Qantas seeks further info after reports of criminal infiltration

The airline has written to four criminal intelligence agencies following a “disturbing” report which alleges organised crime figures have infiltrated the national carrier.

AUSTRAC shifts NAB case to enforcement phase

AUSTRAC’s multi-year dealings with NAB over issues with its compliance anti-money laundering and counter-terrorism laws has entered a new phase.

G7 tax deal pressures 30pc company rate

Business has urged the Morrison government to make cuts after the world’s biggest developed economies agreed to a global minimum corporate rate of 15 per cent.

No banks, no miners, no worries for BlackRock duo

Charlie Lanchester and Madeleine Beaumont’s five-year-old fund is up 46.5 per cent in the past year, and they reckon there’s plenty more to come.

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BOOM ON THE LAND

Corn is harvested on a farm near Nowra, NSW.

Why investors are beating a path to the agricultural sector

A record in agricultural production is forecast for this year, just shy of $66 billion. It’s a combination of bumper harvests and, even more so, strong prices.

Big money goes nuts for almond orchards and other farmland assets

From cattle stations to almond orchards and timber plantations, institutional capital is ready to invest.

The 10.1ha Casuarina Estate at 1023 Pokolbin Road, NSW, sold for $3.9 million.

All cashed up with nowhere to go, wealthy buyers target rural trophies

Across the country, the pandemic has prompted a run on trophy homes and properties in regional areas by well-heeled city dwellers.

Wine companies face biggest battle after China hit

Barley growers are doing a solid job diversifying away from China but it’s a tougher ask for wineries with $1.3b vanishing.

The ebbs and flows of the water market explained

Water is a big, complex market in Australia and, like in other sectors, the price responds to the imperatives of supply and demand.

Companies

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A new dawn for Australia’s potash pioneers

Australia’s first sulphate of potash mine will start production this week and five local mines could be producing the specialty fertiliser inside four years.

Ivvy co-founder Lauren Hall wants to blaze a trail for future female tech CEOs.

Waislitz, Gandel buy into female-led tech company Ivvy

Lauren Hall, CEO of venue management software company Ivvy, plans to list the company on the ASX within a year, hoping to blaze a trail for female founders.

Nuix CEO Rod Vawdrey brought to market one of the most successful floats of 2020, only for it to come crashing down in 2021.

‘Foolish or just plain stupid’: Nuix bunkers down as siege continues

Despite trading more than 50 per cent below its issue price and issuing another downgrade last week, Nuix has not been engaging one-on-one with its investors.

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BHP to overtake Rio in premium iron ore

Close to $10 billion worth of new mines will boost the amount of iron ore leaving Australia in premium lump form and BHP could overtake Rio as the biggest producer.

Multibillion-dollar LIC cash bonanza set to be unleashed

The $54 billion listed investment fund sector is set to deliver a multibillion-dollar cash bonanza to investors due to strong returns and increased pressure to narrow trading discounts.

Ben Roberts-Smith v Nine puts us all in the box

It has been described as the biggest defamation action in Australia’s history. But the consequences are far more wide reaching and profound than defamation.

CBA non-union deal faces rejection threat

Commonwealth Bank has been accused of overselling its landmark non-union agreement to staff and explaining the detail in the same small font it uses for its credit card terms.

Companies in the News

Commonwealth Bank

cba$102.520
 1.29%

Rio Tinto

rio$124.620
 -1.88%

ANZ Bank

anz$29.200
 1.49%

Macquarie Group

mqg$154.000
 1.02%

BHP Group

bhp$48.750
 -1.69%

Updated: Jun 4, 2021 – 4.38pm. Data is 20 mins delayed.

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View stories and data from an ASX listed company

Markets

Ultra-low bond yields indicate that bond market investors are prepared to take on the central banks over the likelihood of them achieving their inflation targets.

When will investors realise central banks are serious this time?

Ultra-low bond yields indicate bond market investors are prepared to take on the institutions over the likelihood of them achieving their inflation targets.

Williamson likes being contrarian.

Hunting for value with a contrarian mindset

Wentworth Williamson’s James Williamson doesn’t like following the consensus and loves to hunt out the companies forgotten by the rest of the market.

US stocks rallied into their weekend.

How markets were looking before the bell

Australian shares are set to open higher after the S&P 500 hit a record. The $A has rebounded, oil has extended its rally and the US 10-year yield has plunged.

Tyro’s tilt at rebuilding terminal trust

The failed ‘handshake’ that brought down a significant proportion of Tyro’s terminals added insult to injury for many of its customers.

Investors prepare to lose central bank support

The Reserve Bank of Australia could be the next to taper, a move that could benefit the bank and miner-dominated local sharemarket.

Opinion

Pell contempt case shows courts must adapt to digital age

If the courts just continuing to punish the owners of the printing presses, their frustrations with modern communications technology will just undermine the administration of justice.

The AFR View

Editorial

The AFR View

Strategist saw through foreign policy myths in era of change

The late Neville Meaney’s warning not to let cultural loyalties cloud the pursuit of national interest remains of vital importance to determining Australia’s role in the world.

James Curran

Columnist

James Curran

Rooftop solar is a populist Frankenstein

The bright idea of turning roofs into mini-power stations has become a monster destabilising the grid.

Matthew Warren

Contributor

Matthew Warren

Too much disclosure is not in super members’ interests

The portfolio holdings disclosure required of superannuation funds under Your Future, Your Super is well intended, but poorly designed.

Grant Wilson

Contributor

Grant Wilson

Proxy advisers should play by the same market rules

The self-proclaimed champions of corporate accountability need to be held to the standards of conduct and performance that apply to other actors in the financial sector.

Angus Armour

Contributor

Angus Armour

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.

Laura Tingle

Columnist

Laura Tingle
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Politics

Ben Roberts-Smith launched defamation action against The Age and The Sydney Morning Herald in 2018.

Ben Roberts-Smith v Nine puts us all in the box

It has been described as the biggest defamation action in Australia’s history. But the consequences are far more wide reaching and profound than defamation.

Global bankers warn Australian investors on carbon risk

The world’s biggest central banks risk creating a ‘dog’s breakfast’ of global climate disclosure rules unless Canberra engages more aggressively with the rest of the world, say investors.

Acting Victorian Premier James Merlino said any lockdown decision would be driven by health advice.

Business demands end to Vic lockdown and ‘doomsday’ prophesies

Business groups are demanding an immediate exit strategy for Victoria’s 14-day lockdown after only a handful of new coronavirus cases on Sunday.

Setka’s allies attack CFMEU long-time leader

In an extraordinary intervention, union bosses have publicly attacked former CFMEU national secretary Michael O’Connor and called for him to get the boot in internal elections.

NSW needs to build 1.7 million extra homes

NSW will need to build an extra 1.7 million homes over the next 40 years to cope with new population and economic growth.

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World

Though Robert Stephan Cohen has a reputation for being “mean” and a “killer”, he said people would be surprised by how fair he tries to be.

Melinda Gates’ lawyer reveals what he advises not to do in a divorce

Helping her split from Microsoft co-founder Bill Gates is Robert Stephan Cohen, who has decades of experience advising high-net-worth and celebrity clients.

Anthony Fauci: “I had to sometimes contradict what [Trump] said because what he said was not correct.”

Fauci under siege over lab leak theory

“America’s doctor” is facing calls to resign and criticism from the right over his insistence that the pandemic probably has its roots in wild animals, rather than a Chinese lab.

Israeli protesters hold signs and chant slogans during a demonstration against Benjamin Netanyahu. Security services are more worried about extreme political violence.

Israel security warns of violence as Netanyahu faces ouster

Some right-wing groups are angry at Naftali Bennett, head of a small ultra-nationalist party who is slated to replace the prime minister in a power-sharing pact.

China’s declining birthrate won’t hurt its growth

Demographics have already stopped contributing to China’s economic growth. The labour force has been declining since 2012 and is now 40 million fewer than a decade ago.

Ireland confident G7 tax deal won’t dent multinational investment

Finance minister Paschal Donohoe said companies such as Apple had been in Ireland for decades and were among its largest employers.

Property

Industrial landlords, property investors face land tax hike in NSW

The red hot industrial and residential property markets will come at a cost for owners in NSW as increased official land values will trigger land tax rises.

David Williams on his vast farm in the Macedon Ranges.

Kidder Williams boss adds Tassie farm to rural empire

David Williams has acquired 718 hectares of Derwent River-fronting farmland near Hobart that has potential for viticulture, tourism and residential subdivision.

Equiem CEO Gabrielle McMillan.

Tenant portal Equiem gets Lincoln Property Company investment

The large US office owner and manager sees the Australia-founded tenant portal as a key part of its return-to-office push.

Tiverton to reap rewards of regeneration at Picardy

Acquired for $27 million four years ago, the 10,000-hectare Queensland run could fetch as much as $60 million after its conversion to cropping under Tiverton’s strategy.

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.

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Wealth

Low-power common area lighting on motion sensor switches can save a mountain of cash and carbon.

Green means go for well-run unit blocks

How investing in sustainability can make perfect sense for your property portfolio.

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

Humans are still the weakest link in cyber-security.

PwC-backed start-up helps tackle biggest cyber risk – you

Most cyber attacks still involve human error. PwC hopes its tie-up with a US start-up can tackle the problem in real time. 

Split Payments is the world's first open banking, real-time settlement payments platform.

Direct debit shake-up builds pressure on credit card giants

Mid-way through next year, the real-time payments network NPP will switch on PayTo, upending how businesses request recurring debit payments.

Actors Ashton Kutcher and Demi Moore invested in Zaarly in its early days.

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.

Work & Careers

Charles Sturt University is facing unprecedented financial pressures.

Charles Sturt University under scrutiny from regulator

The beleaguered Charles Sturt University was given unprecedented dispensation from publishing its annual report, sparking speculation the institution’s finances and operations are in crisis.

Why it’s ‘Roll Over Beethoven’ for unis to cover costs

Universities around the world are in trouble and have a more insidious chronic ailment to deal with, often known as Baumol’s cost disease.

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Life & Luxury

From left: Beare Park, Non+, St Agni, Auteur.

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.

Peter Wegner’s portrait of Guy Warren has won the Archibald Prize.

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.

Fassbinder’s Lola (1981) is a luridly-coloured remake of Josef von Sternberg’s The Blue Angel (1930), with Barbara Sukowa in the Marlene Dietrich role.

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.

Olsen with his 2005 Archibald Prize-winning Self-portrait Janus-faced.

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.

William Bustard’s 1943 portrait of police tracker Tippo Powder.

Archie 100 paints alternative portrait of the Archibald Prize

A new exhibition argues the most interesting Archibald Prize entries weren’t always the winners.

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From the gallery