AusNet joins deal frenzy for infrastructure assets
Canadian giant Brookfield has made a $9.6 billion bid for power grid owner AusNet Services in the latest international swoop on Australian infrastructure.
Victoria to close down construction industry after wild protests
A mob of protesting construction workers has abused and attacked CFMEU boss John Setka over government vaccine mandates, smashing up the union headquarters.
- Opinion
- Chanticleer
Australia’s infrastructure assets are a no-brainer for predators
As long as interest rates remain low, the world’s largest investors will seek to privatise the last remaining producers of reliable cash flow.
- Live
- Need to Know
Pfizer says a lower dose of its vaccine is safe for kids
A smaller dose of the Pfizer vaccine - one-third the amount given to adults and teens - triggered a robust immune response in 5 to 11-year-olds. Follow updates here.
Barnaby mentions the war as France pledges not to scuttle FTA
Barnaby Joyce says Australia does not need to prove its affinity to France because it had done so in the two world wars.
- Exclusive
- Specialist investments
Forum conduct questioned before Westpac deals
Two financiers were caught up in arrangements that were quickly severed after due diligence before the Bill Papas-founded firm began dealing with Westpac.
- Opinion
- Inside China
What happens when Beijing’s housing bubble bursts?
Evergrande’s financial woes are raising fears China could soon witness the bursting of its massive house price bubble, which will deal a hefty blow to economic growth.
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start-ups
Airwallex cracks $5b valuation with $275m raise
The Australian payments ‘unicorn’ has almost doubled its valuation on paper on the last six months, after closing a funding round led by a US-based hedge fund.
- Exclusive
- Funding
Selling a company as easy as posting an eBay listing
Melbourne-based company Flippa, which runs an online marketplace for people to buy and sell online businesses, has raised $15 million in a round led by Sydney-based venture firm OneVentures.
- Opinion
- Venture capital
Canva’s dominance of local start-up industry laid bare
Canva is now responsible for virtually all the profits achieved by local start-up investors and is worth more than the combined value of every other locally backed Australian start-up.
- Exclusive
- Crowdfunding
Raising capital? Aussie crowdfunding surges 125pc
Fintech companies, alcohol brands, and innovative food products fare best at raising money online to boost their businesses, according to a new report on Australia’s equity crowdfunding industry.
- Exclusive
- Drones
AI and drones to monitor power lines in NSW tech trial
In NSW, a trial by Sydney start-up Unleash Live is underway that could convince authorities to allow drones to automatically patrol infrastructure.
Companies
Investors pick up pace in residential housing market
People’s Choice Credit Union CEO Steve Laidlaw says there’s no cooling in sight in property markets.
Woolworths-backed plastic recycling disrupter in $30m raise
Samsara’s technology uses enzymes to break down plastic bottles to a powder able to be used again, in an endless recycling loop.
Gates raises $US1b for race to scale clean tech
The Catalyst projects aim to show that clean technology can be cost-competitive at scale and eliminate the “green premium” over conventional standards.
ACCC laments ‘bad’ Transurban ‘monopoly’
Competition watchdog boss Rod Sims says full ownership of WestConnex will entrench the toll road operator’s ‘monopoly’, forcing taxpayers and motorists to pay the price.
- Opinion
- Chanticleer
How Transurban’s CEO built a $75b toll road giant
Scott Charlton says the WestConnex deal is ‘the combination of a deliberate and focused effort over the last five years’.
UK bosses fear energy price ‘catastrophe’
Wafer-thin gas reserves have left the British economy almost uniquely vulnerable to an extreme global supply squeeze.
Banks, fintechs back broader anti-money laundering regime
The banks say they have had to shoulder the burden for too long and further delays could hurt Australia’s international standing and access to capital.
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Markets
Crisis, what crisis? UK govt stares down surging gas prices
Britain’s energy minister says there’s no question of the lights going out, and vows to redouble a push towards renewable alternatives.
Spiralling iron ore miners drag ASX to 2.1pc loss
Another sharp fall in iron ore prices sent the major miners tumbling on Monday as markets anxiously prepare for a string of central bank meetings this week.
- Analysis
- Sharemarket
Will Evergrande be China’s Lehman Brothers moment?
Will the demise of Evergrande cause more damage than policymakers can handle? Macro experts don’t think so.
Cadence Capital bets new LIC on controversial miner
A jump in value for shares in deep-sea miner The Metals Company triggers spin-off portfolio.
ASX slumps 2.1pc; iron ore futures dive 10pc
Australian shares ended at a three-month low; iron ore tumbles further; Transurban confirms WestConnex acquisition with $4.2b raising; AusNet receives $2.50 a share bid from Brookfield Asset Management. Follow the latest here.
Opinion
NSW government got a great price for WestConnex but motorists will pay
The NSW government is thrilled with the $11.1 billion sale of 49 per cent of WestConnex to toll road giant Transurban. But motorists are paying high prices for the result.
Columnist
Snubbing China on trade is a strategic mistake
There was a big opportunity to re-engage with China and strategically rebalance. Instead, Trade Minister Dan Tehan fumbled the moment.
Contributor
Can Porter stay in politics without disclosing donors?
It was unviable for Christian Porter’s supporters to think they could pay his legal bills and preserve their anonymity without further damaging his now ended ministerial career.
Editorial
We must re-open as Big Australia, not Fortress Australia
Australia needs to get back to its confident and intrepid old self, and leave small-mindedness behind with the closed borders.
Contributor
How Australia can inject speed into its submarine plan
The peak threats from China are likely to come sooner rather than later. But there are also ways of giving the submarine project a head start.
Contributor
Australia’s debt options are drying up
Political parties have no real plans to grow, tax, or cut their way out of debt. They need to get out their micro-reform textbooks.
Columnist
Politics
- Analysis
- Coronavirus pandemic
Victorian modelling of COVID-19 deaths ‘too pessimistic’
The Burnet modelling that underpins the Victorian reopening road map suggests fatality rates much higher than are being seen in the real world.
Record low rates highlight limits of monetary policy
Monetary policy is having less of an influence on prices than in the past, according to the Bank of International Settlements.
AFR readers back RBA’s record and GST reform
Readers largely agreed with an OECD recommendation to broaden the GST base, though many did not think its rate should also be increased.
Film and TV industry oppose tax change
Changes to a tax offset for post-production and visual effects will hurt local productions, the industry says.
No reason Porter can’t return to the ministry, says Joyce
Christian Porter should be able to return to the frontbench, even if he never discloses who helped pay his legal bills, the Deputy Prime Minister believes.
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World
We don’t agree with the French: White House on AUKUS
US President Joe Biden and France’s Emmanuel Macron are set to speak via video conference on Tuesday.
Defence elders look to smooth AUKUS tensions with Indonesia
While the Morrison government scrambles to mend fences with ASEAN, a long-established network of defence leaders has also swung into gear.
- Opinion
- Germany
Germany’s economic challenges will outlive Merkel
Over-dependence on exports and over-tight fiscal policy may not change regardless of who emerges as Germany’s next chancellor.
UK will be ‘hard-headed’ in defending interests, says new minister
Liz Truss said the AUKUS pact showed Britain’s commitment to security and stability in the Indo-Pacific region.
Biden seeks call with Macron to calm the waters
The call between the two leaders would be aimed at reducing tensions after days of hurt feelings in France and growing exasperation in Washington.
Property
Too Ezy: Quintessential invests in the Adelaide story
The fund manager believes Adelaide’s ranking as one of the most liveable cities, its superfast internet, and a reputation for high-tech work spell good news for office property.
Australian hotel recovery to match US, UK once restrictions end
Australian hotels had occupancy rates half those achieved by their counterparts in the US and UK, but an end to restrictions will change that.
Lendlease partners with Morgan Stanley in logistics deal
The 50/50 joint venture will take over five leased industrial facilities and three development sites across Queensland, NSW, Victoria and South Australia.
Charter Hall buys into reopening trade with $1.7b pubs deal
Busy fund manager Charter Hall, backed by industry fund Hostplus, has struck a $1.7 billion deal to buy out the country’s biggest listed pubs landlord, ALE Property Group.
The Sydney influx is changing one Illawarra town
Housing sales in Shellharbour ran on private treaty until the arrival of competitive COVID-19 refugees shook things up. Vendors are now making the most of it.
Wealth
- Opinion
- Aged care
How to get government money for aged care
Steps to take when someone in your family can no longer care for themselves.
- Opinion
- SMSFs
How to invest in property with friends
The new SMSF rules make it possible for a group of people or business partners to pool financial resources and buy investment real estate.
Housing choices fuel affordability conundrum: RBA
More Australians will have to move further out of city centres unless Australia embraces high-density living.
Technology
Vertical farm outfit seeks $10m as it breaks new ground in Queensland
Vertical farming business Stacked Farms is looking to expand in a world increasingly affected by climate change.
‘Not a part-time role’: tech sector urges greater focus after Porter quits
Members of Australia’s tech sector say they are worried Angus Taylor has too much on his plate to take on the crucial innovation portfolio after recent neglect.
- Explainer
- Cryptocurrencies
Why are crypto buyers clamouring for ‘Ethereum killers’ like Cardano?
Explainer: Money is flooding into the likes of Cardano, Polkadot and Solana, but what are they, and how do you tell the difference between these latest crypto crazes?
Work & Careers
Victoria to close down construction industry after wild protests
A mob of protesting construction workers has abused and attacked CFMEU boss John Setka over government vaccine mandates, smashing up the union headquarters.
Pandemic hastens the decline in enterprise bargaining
The latest data shows wage growth stagnating and private sector coverage falling to a three-year low.
Life & Luxury
Whisky maker launches sneakers at $1650 a pair
With only 23 sets on offer, you’ll need to be quick if you want a dram of distiller Glenfiddich’s first Australian fashion drop.
Streaming triumphs as Netflix, Apple dominate awards
At long last, the streaming platforms were triumphant at the Emmys, with Netflix and AppleTV+ taking major awards.
Founder finds her power in bodybuilding
After reaching a plateau at the gym, Inventium organisational psychologist Amantha Imber discovered a personal trainer who specialised in female weightlifting.
- Opinion
- Millennials
Millennial pet worship is not twee, it’s tragic
Using a dog to replace dreams of having children, a career or just some friends is a lot of pressure to put on a beagle.
The Emmys: Who will win vs who should win
If you somehow weren’t aware of all the buzz around Ted Lasso already, you will be when the Emmys air Sunday night (Monday AEST).
