Nationals rebuff net zero emissions truce
Deputy Nationals leader David Littleproud tried to offer an olive branch to the Liberals on net zero emissions by 2050, but MPs allied to Barnaby Joyce rejected the prospect of any deal.
China seen more as security threat than economic partner
A top foreign policy think tank’s annual poll shows China’s campaign of economic coercion has hardened Australians’ attitude against Beijing.
- Opinion
- Chanticleer
Investors the winners in Soul Patts’ $4b transformation
The marriage of two of the country’s oldest investment houses should lead to a step change in investment strategy and provide retail investors with access to assets only available to institutions.
One in 10 Australian adults are millionaires, says report
Credit Suisse expects the number of millionaires in Australia to increase by 70 per cent over the next five years on the back of a boom in asset prices.
Soul Patts boosts ‘firepower’ through $10.8b Milton mega-merger
A proposed merger between two of Australia’s oldest listed investment houses would provide ammunition to diversify capital across multiple asset classes.
Joyce’s backers question childcare boost
Coalition MPs aligned with Barnaby Joyce have questioned a $1.7 billion boost for childcare, arguing it discouraged mothers from staying home to care for their children.
Blundy piles into Best & Less; IPO 2.0 launched
Best & Less’ IPO is back – and this time the company has the backing of retail billionaire Brett Blundy.
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Companies
Former Oil Search boss Peter Botten says UBS ‘greedy’ on fees
The investment bank was singled out for criticism in much-anticipated evidence to PNG’s royal commission into the so-called ‘UBS loan scandal’.
ANZ warns union over July 1 super pay cut petition
Staff continue to vent frustration with ANZ’s decision to cut take-home pay on July 1, with one employee saying the move ‘does not pass the pub test at all’.
- Opinion
- Chanticleer
AustralianSuper shows power of mutuals
Australia’s capital markets were dominated by mutuals from the 1950s until the 1990s when they demutualised, a move that started a spiral into irrelevance.
Coonan knew of potential Crown tax rort but didn’t tell board
Crown Resorts executive chairman Helen Coonan kept her knowledge of the casino giant’s potential tax rort secret from her fellow directors, an inquiry heard.
BHP blasted by Indigenous elder amid WA impasse
Banjima elder Slim Parker says there must be a power of Indigenous veto on new projects in resources-rich Western Australia.
Rinehart hits mine roadblock in Canada
ASX-listed coal stocks with interests in Canada have paid a hefty price after an inquiry there found a Gina Rinehart-owned mine was not in the public interest.
FAR faces shareholder revolt
The oil explorer faces a potential push to spill the board after ignoring the demands of its major shareholders to return the proceeds from an asset sale and instead pursuing more drilling.
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Markets
Soul Patts boosts ‘firepower’ through $10.8b Milton mega-merger
A proposed merger between two of Australia’s oldest listed investment houses would provide ammunition to diversify capital across multiple asset classes.
PayPal chases Afterpay market share with QR codes
PayPal’s introduction of QR codes coincides with the launch of its buy now, pay later offering in Australia this month.
ASX rebounds in best session in three months
US Federal Reserve reassurances that an interest rate hike was still some time away helped the Australian sharemarket on Tuesday to its best session in more than three months.
Markets struggle to read the Fed on rates
Investors are struggling to predict just how central banks will respond to rising inflation, sparking wild swings in both equity and debt markets as they jump at shadows.
- Opinion
- IPO
Investment banking’s next headache
The SEC’s decision to liberalise the regulatory framework around direct listings presents an existential risk to the established model.
Opinion
Virus management, housing boom boosts NSW budget recovery
The strong performance of NSW’s public finances stand out. But the claim this was reforming budget is a stretch.
Editorial
AMP Capital digs in over community infrastructure fund
AMP Capital is putting on a brave face, but asset consultants say the damage caused by the defection of core members of its community infrastructure fund can’t be papered over.
Columnist
States charge ahead on electric vehicles
Electric vehicle sales are still a tiny part of the Australian car market but the rules of the roads are changing and the states are gazumping Canberra’s policy vacuum.
Columnist
How China broke the Asian model
Unlike Taiwan or South Korea, which turned from one-party states to democracies as they grew richer, China under Xi has entrenched the dominance of the Communist Party.
Columnist
Return of climate wars brings Barnaby back
Climate populist Barnaby Joyce’s rehabilitation leaves the Nationals with little room to play a constructive role in shaping Australia’s transition to the new energy economy in the best interests of regional Australians.
Editorial
Next election is Labor’s 1983 moment all over again
Rather than fighting battles already won over the minimum wage, the ALP must focus on how capital and labour can work together to improve productivity and lift living standards.
Contributor
Politics
Joyce must back his words with action: Rural women
Rural women inside and outside the Nationals have put Barnaby Joyce, the new deputy prime minister, on notice.
Joyce’s backers question childcare boost
Coalition MPs aligned with Barnaby Joyce have questioned a $1.7 billion boost for childcare, arguing it discouraged mothers from staying home to care for their children.
- Exclusive
- Travel
Top tourism bureaucrat says border closures destroy confidence
As tourism losses continue to mount, Tourism Australia’s boss has broken her usual silence on matters of politics and health.
Mask mandate expands as NSW cases double
Sydneysiders will have to wear masks at a range of indoor venues after the city recorded 10 new cases, including a mystery case in an eastern suburbs school.
No applause yet for super shake-up
The government’s plan to return $18 billion in fees to superannuation members will be applauded if successful, but critics say it bears little resemblance to the review that inspired it.
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World
- Analysis
- Coronavirus pandemic
Malaysia’s Anwar: Corruption has flourished with the virus
The veteran politician is once again prime minister in waiting with an election likely next year. But for now, his focus is the pandemic.
Garuda loses $3.3b, may axe final Australian route
Qantas stopped all flights to Indonesia last year, leaving Garuda’s Sydney route as the only direct commercial flight left between the two countries.
New Yorkers set post-pandemic course in mayoral primary
The slate of candidates is the city’s most diverse and could produce New York’s first female or Asian mayor. The city has had 109 male leaders and only one - David Dinkins - was black.
Myanmar anti-junta militia vow to take on army in a major city
A group claiming to be Mandalay’s new People’s Defence Force says its members responded after the army raided one of its bases.
- Opinion
- Coronavirus pandemic
Quick trip to Paris? That’ll be an extra $1000 and weeks of quarantine
When the Financial Review’s correspondent went to the French capital for work, it came with a heavy hit to his wallet, his patience and his right nostril.
Property
Fast-food, medical premises in hot demand at auction
A KFC restaurant in Forster on the NSW Mid North Coast sold on a yield of just 2.9 per cent, while all four medical premises sold on yields below 5 per cent.
Brisbane office market pops with another two CBD sales
The city’s CBD office market has recorded another two major sales to consolidate its status as Australia’s most active through the first six months of 2021.
Build it and they will come: Scape backs students digs projects
A global residential player, and the biggest in student accommodation in the Australian market, Scape has received development approval for four of its Sydney projects.
Rental affordability worsens as housing supply dwindles
More than half of the country’s detached housing markets and one in five unit markets are deemed unaffordable for tenants, who spend more than 30 per cent of their household income on rents.
Airtasker co-founder turbocharges Soho property portal
With the acquisition of homesales.com.au, Mr Lui says he his Soho app now has coverage of the residential market comparable to realestate.com.au and Domain.
Wealth
No applause yet for super shake-up
The government’s plan to return $18 billion in fees to superannuation members will be applauded if successful, but critics say it bears little resemblance to the review that inspired it.
- Opinion
- Cryptocurrencies
Investors still divided on whether crypto is investable asset
The usual criticism is that it’s impossible to value because there are no earnings or dividends to model, but gold and other commodities are no different.
- Opinion
- Quantitative easing
Where surging debt levels will lead developed economies
Will these bring increased interest rates? Or is Japan’s experience, which saw rising indebtedness accompanied by falling yields, the more likely outcome?
Technology
How a bunch of data nerds shamed government to release vaccine data
A group of community data and digital evangelists have been extracting most of the data the public reads and sees about COVID-19.
Quantum technology looms as security threat, fund warns
Staying ahead of cyber criminals and disruptions would require government investment in quantum technology and robotics, a Macquarie Technology Summit was told.
- Opinion
- Chanticleer
No ‘rules’: The secret to Musk’s success
In her interview with SpaceX’s chief operating officer, Macquarie chief Shemara Wikramanayake got to the secret of Elon Musk’s success.
Work & Careers
Foreign auditors, accountants, chefs to get priority visas
The Morrison government has more than doubled its priority occupations for skilled visas after lobbying from business.
Deloitte CEO sweeps aside old rules for ‘transparency’
Newly appointed Adam Powick is the first technology consultant to lead an accounting firm globally, and he is ready to break some industry rules.
Life & Luxury
The greatest bicycle journeys on the planet
A recently released book will have cyclists dreaming of reopened international borders and the chance to pedal some spectacular touring routes.
- Opinion
- Motoring
A flagship Lexus for a dwindling crowd
Despite its high levels of refinement and magnificent sound system, the brand’s halo limousine, the LS500 F Sport, feels dated next to its competition.
Who’s afraid of cruising? Record bookings and new ships say no one
The industry suffered catastrophic losses last year, but it’s determined to come back, cheered on by all those sea lovers buying world voyages.
New dawn for Indigenous tourism
If you’ve got an idea for an Indigenous tourism venture, greenlight it now. Australians suddenly can’t get enough: be it bush tucker walks, native-ingredient degustation dinners or a dot painting class.
This ski-loving CEO has a message for snowboarders
Lancemore Group’s Julian Clark can’t wait to hit the slopes, but hopes to avoid overly ambitious boarders sliding down a run and taking the good snow with them.
