G7 delivers for Morrison on China
Scott Morrison’s trip to Britain for the G7 appears to have paid off after the summit pledged to tackle China’s market-distorting economic practices and its authoritarian actions in Hong Kong and Xinjiang.
- Exclusive
- Funding
Ex-investment banker scores $11m after quitting to start a tech firm
Asher Freilich abandoned his Citi career to finish his medical training, but while doing so, started his own telehealth business, which is now in the money.
Andrew Forrest’s $100b Congo power play
Australia’s richest man has committed Fortescue to the world’s biggest hydro power project in the Congo, as part of his ambition to diversify the miner into a global force in green energy and hydrogen.
Biden welcomes new Israeli government as Netanyahu ousted
In a statement that did not mention Israel’s longest-serving leader, Benjamin Netanyahu, US president Joe Biden welcomed Naftali Bennett’s new government.
Free trade deal with Britain goes down to the wire
‘The clock is running out,’ says Trade Minister Dan Tehan, as Prime Minister Scott Morrison declares Australia wants ‘the right deal, not any deal’.
- Opinion
- China relations
The West has its limits with China
What was critical at the G7 summit was the message it sent out that the liberal democracies – the West– have finally been stirred into action by a belligerent and hostile China, writes Alexander Downer.
PEXA appoints retail brokers for IPO
Morgans, Ord Minnett and Wilsons will start selling the company’s shares to retail brokers after being mandated for its float.
Want to know about the biggest deals before they happen? Get Street Talk in your inbox every night.
Companies
Macquarie beats billionaires to clinch Italian tollway deal
The bank has seen off a pair of activist billionaires to grab a stake in the European country’s biggest toll road network in a $14.6 billion win.
Casino group’s bad week: The heat intensifies
It was Crown’s casual approach to the welfare of chronic gamblers that drew some of the most damaging admissions of the inquiry so far.
Nine ways to profit from inflation guessing game
Whether you’re a wealth accumulator or a retiree, there are opportunities to grow and protect your portfolio.
- Opinion
- Chanticleer
How one simple idea helped Australia map its biodiversity
Australia is leading the world in the measurement of its natural capital thanks to a brilliant idea hatched by a group of scientists more than 13 years ago.
The ASX kicked out this 10-bagger crypto unicorn
The Australian Securities Exchange has been vocal about its unease with all things crypto. But as more and more money is made, local investors want to know why they keep missing out.
Oil producers clash over $1b disposal bill
Offshore oil and gas producers are fighting among themselves over who should pay for an offshore clean-up bill of up to $1 billion that poses a serious threat to the industry’s reputation.
The next big squeeze facing manufacturing
Supply chain disruptions both help and hurt Australian manufacturing. But Rich Lister Gerry Ryan says solving the sector’s skills shortage is vital to its growth.
Companies in the News
National Australia Bank
Crown Resorts
Nine Entertainment
Updated: Jun 11, 2021 – 4.38pm. Data is 20 mins delayed.
Search companies
View stories and data from an ASX listed company
Markets
- Investigation
- Retail
Cettire shares soar despite working in a ‘cloud of mystery’
Shares in online luxury fashion retailer Cettire have surged almost six-fold since its December IPO, but questions have been raised about its long term prospects.
TikTok’s nine most popular investing tips, rated by financial experts
The hashtag ‘#investing’ has amassed more than 2.8 billion views on the video app as young people flock to it to learn (or be misguided) about the sharemarket.
US stocks rise to record with focus turning to Federal Reserve
The S&P 500 edged 0.2 per cent higher to end its week, closing at a record for a second consecutive session. Eight of its 11 industry group’s finished higher.
Steel’s massive rally hits all parts of the global economy
Demand is so frenzied that US mills have stopped taking orders from customers in recent weeks, one steel executive said.
Tech leads ASX to record high
The Australian sharemarket closed at a record high on Friday, extending its strong run of form, as Victoria exited its two-week lockdown.
Opinion
PM looks to Howard’s 2001 victory for an election strategy
With predictions of a worsening election climate looming, pundits predict Scott Morrison will call an election in 2021 and base his strategy on John Howard’s 2001 campaign.
Columnist
Australia is in the right company for the times
The world’s leading democracies that make up the G7 know that they must defend their order from authoritarian challengers. It is appropriate that Australia is standing with them.
Editorial
Morrison is up for post-G7 crusade
In the Trump era, Scott Morrison shunned binary views of China. But his language now is right on board with Joe Biden.
Columnist
Back in China after 15 months, Chairman Mao gives way to QR codes
Former Australian Ambassador to China Geoff Raby returns to find a country that is cashed up, run by smartphones and more anxious than when he left.
Columnist
Wisdom of Solomon (and Mark) delivers Premier’s profit jump
Experience and planning have helped Solomon Lew and Mark McInnes dodge the COVID-related challenges that have hurt other retailers.
Columnist
How Frydenberg saved borrowers from a rate rise
Make no mistake, Treasurer Josh Frydenberg has pulled off a minor miracle saving Australia’s prized AAA credit rating, which has helped borrowers avoid the equivalent of half a 25-basis-point interest rate hike, writes Christopher Joye.
Columnist
Politics
Australia winning friends and influencing people on world stage
Australia is looking for like-minded countries wherever it can to help stand up to China.
Age cut-off on AstraZeneca jab could be increased after second death
Experts say doctors are getting better at identifying and treating rare but fatal blood clots.
Treasurer calls for ‘creative’ COVID-19 response to prevent lockdowns
Josh Frydenberg says he is ‘very concerned’ about the damage caused to Victoria’s economy and mental health from four lockdowns.
- Exclusive
- Government debt
Frydenberg to use generational report to lift migration, tackle costs
Delayed a year ago by the pandemic, Treasury’s five-yearly intergenerational report could be used by the government to tackle surging health and disability costs.
Victoria reports no new cases on first day of eased restrictions
The nation heaved a sigh of relief as Australia reported no new community cases on Friday, after a Victorian couple caused alarm by travelling through NSW to Queensland.
SPONSORED
World
Morrison pivots climate strategy towards tech deals
Prime Minister Scott Morrison is trying to strike bilateral agreements to build momentum behind his fossil fuel-centred approach to cutting emissions.
Ticket to space with Jeff Bezos sells for $36m
An unnamed passenger will pay more than $9 million for each minute of zero gravity in the Blue Origin capsule.
Danish soccer star collapses mid-match
Denmark midfielder Christian Eriksen suffered a medical emergency on the pitch during a match against Finland and was rushed to hospital.
Morrison powers up the Anglosphere to face China threat
Prime Minister Scott Morrison has used the G7 leaders’ summit to join a three-way meeting with US President Joe Biden and British Prime Minister Boris Johnson.
G7 leaders gird for future pandemics, but take flak over vaccines
Boris Johnson floats plan to beat virus outbreaks in 100 days, but critics zero in on the need for even more vaccines for poorer countries.
Property
Buy now, pay later plan for downsizers purchasing off the plan
Empty nesters are being targeted with a finance scheme that postpones any payments until settlement.
Macquarie seals Vitalharvest takeover after Roc outmuscled
Macquarie has won the battle for Vitalharvest, but its victory came at a significant premium - units in the fruit orchard trust rose 33 per cent during the bidding war with Roc.
Adelaide’s oldest theatre, newest casino top SA architecture awards
Designs that breathed new life into the city’s longest-running arts venue and the peaceful interior of a new casino bar stood out this year.
Grollo family sells Footscray office building to Centuria for $224m
Melbourne’s Grollo family has exited an investment it has held since 2014, selling to Centuria Capital Group for $224 million.
The Sydney house expected to smash its suburb record
One of Maroubra’s largest properties, which has been listed for expressions of interest, is expected to obliterate the area’s $14 million high.
Wealth
- Opinion
- Investing
Beware going with the flow in environmental investments
Investors need to carefully consider the options because, unlike the tech theme, high-profile winners are less obvious.
Nine ways to profit from inflation guessing game
Whether you’re a wealth accumulator or a retiree, there are opportunities to grow and protect your portfolio.
How this Gen Z grew his family property portfolio to $100m
Sydneysider Wahib Wehbe fell into property investing when his father passed away. Now, he’s looking to expand his family’s investments interstate.
Technology
‘No basis’ for $5.2m industrial relations ruling, TechOne tells court
The software company and its vocal founder Adrian Di Marco are calling for a retrial of an employment law case that has them on the hook for $5.2 million in damages.
MessageMedia sale caps off $10.2b week of Aussie tech deals
MessageMedia’s $1.7 billion acquisition by Sinch is the third-largest ever for an Australian tech company, coming behind KKR’s purchase of MYOB and A Cloud Guru being snapped up by US company Pluralsight last week.
NSW entangled in battle of the parking apps
A battle for control of the lucrative parking app market is at the centre of a major stoush between the NSW government and the $4.5 billion industry.
Work & Careers
Staff shortages threaten ‘excellent’ ski season
The ski season is due to kick off on Saturday, but there are still more than 100 unfilled jobs at Victoria’s Mount Buller resort.
Another five PwC strategy consultants head to EY
EY has again raided PwC’s strategy arm for consultants, hiring another five Sydney-based advisers to join the two partners poached earlier this year.
Life & Luxury
Jude Turner expands her Spicers Retreats empire
The pandemic has battered the Flight Centre business of husband Graham Turner, but business is booming for the Spicers Retreats boss.
How a world-beating pianist was remade in Australia
Alexander Gavrylyuk began a transformation on a Sydney operating table in 2002 into one of the concert hall’s most sought-after, emotionally engaged musicians.
Geoffrey Edelsten found dead at 78 in Melbourne apartment
The controversial businessman was known for his colourful exploits and ownership of the Sydney Swans AFL team.
Is there a market for Harper’s Bazaar 2.0?
After the big players closed magazines, niche and independent publishers are resurrecting titles, banking on readers’ desire for quality and a unique perspective.
If you get a six-pack, you’ll be honouring history
The cultural obsession with ripped abs has a long backstory, and thanks to social media, it’s only set to grow.
