Why being ‘sophisticated’ isn’t always smart for investors
More than 3 million Australians meet the so-called wholesale investor test, opening up a world of lucrative opportunities. But that freedom comes with a big catch.
- Exclusive
- Climate policy
Climate shift ‘with us or without us’: Scott Morrison
Climate change is as much about the global economy as the environment, and Australia will be left behind if it does not respond, the PM says.
- Opinion
- Chanticleer
How crypto start-up could let you trade Canva before its IPO
A new crypto start-up backed by Australia’s top-performing fund wants to let traders speculate on the likes of Canva, SpaceX and Stripe before they list.
One small step for climate change, one giant leap for the Coalition
After years of open warfare and fallen leaders, the prospect of a meaningful consensus on climate and coal is tantalisingly close.
British MP stabbed to death while meeting constituents
A 25-year-old was arrested, as politicians from all sides reeled in shock at another killing of an MP, five years after the murder of Jo Cox.
Open sesame! Lockdown world champion Daniel Andrews pivots
The Victorian Premier’s pivot to reopen the state marks a concerted shift and again underlines his uncanny sense of which way the political winds are blowing.
- Opinion
- Federal politics
The most abject failure of leadership in living memory
Prime ministers are supposed to make the case for change and then discipline their governments. Scott Morrison does not fulfil this most basic task, writes Laura Tingle.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
weekend reads
The new way to grow family offices
There are big changes in family offices. You can do more with less and increasingly, families want their wealth to do good and deliver returns.
The $US10 trillion man – how Larry Fink became king of Wall Street
BlackRock’s co-founder and CEO has created a business with unprecedented power. So what, exactly, did it take for him to get this far? A new book explains all.
Squid Game’s director reveals the secrets of the No.1 Netflix hit
Inspired by his life and childhood, Hwang Dong-hyuk’s creation initially couldn’t get even local funding – and took 10 years to finally make it to the screen.
Forget law and become a teacher, says the head of Newington College
Issues of school funding, choice and privilege are all up for discussion with Michael Parker, whose passion for philosophy led him to write a book about teaching ethics to kids.
Australia’s pandemic modellers are remodelling
‘I’d give us a credit so far, but I’d like a high distinction,’ says Professor Margaret Hellard, a deputy director of Melbourne’s Burnet Institute.
smart investor
- Opinion
- Superannuation
How a $40 overpayment can scupper $100,000 super strategy
Even a minor miscalculation of salary sacrifice or failure to lodge a tax return can unravel the best-laid plans. Here’s what you need to know.
Why being ‘sophisticated’ isn’t always smart for investors
More than 3 million Australians meet the so-called wholesale investor test, opening up a world of lucrative opportunities. But that freedom comes with a big catch.
Find your way through the bridging loan maze
Worried about being priced out of the market before your property sells? Here’s what you need to know about finances to tide you over.
- Opinion
- Flat Chat
How landlords are protected when levy bills land
While strata schemes can impose penalty interest on unpaid levies, a lack of cash in the kitty can have serious consequences when the building’s bills roll in.
When is salary sacrificing into super worth it?
Thanks to tax savings, someone on $110,000 a year could contribute an extra $16,000 a year while losing only $10,000 in disposable income.
Companies
Woodside, Santos bet on bulk to beat carbon threat
The determination of Australia’s two largest oil and gas producers to defy mounting opposition to the continued growth of fossil fuels and double down to become “mini-majors” in the sector could amount to their biggest ever gamble.
Dropping quarantine is useless without tourists, says Skroo Turner
Flight Centre Group CEO Graham “Skroo” Turner is outraged that are fully vaccinated international tourists are locked out of the NSW government’s “no quarantine” plan.
‘Critical’ gas power plant to return 12.3pc: Snowy
Snowy Hydro’s $600 million Hunter gas power plant will provide critical back-up for renewable energy and provide base-case returns of 12.3 per cent, according to modelling that debunks the views of critics.
The Star’s disclosure to market ‘pretty poor’
The Star Entertainment Group should have put its high roller program on ice and launched an internal review rather than aggressively pushing back against allegations of money laundering and infiltration by organised crime at its casinos, says Stephen Mayne.
- Opinion
- Chanticleer
Now the $17b AusNet battle can get really serious
The Takeovers Panel has forced AusNet to engage with APA Group’s bid for the company. The AusNet board won’t be too upset by that.
AusNet opens books to APA Group
The takeovers panel deemed the eight weeks of exclusive due diligence that AusNet granted its heavyweight Canadian suitor “anti-competitive.”
Qantas brings forward travel restart but airline frustration boils
Qantas will bring forward to November 1 plans to restart its Sydney-London and Sydney-Los Angeles flights.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Asia is open to fund coal, but at a cost
The best chance for Australian coal companies seeking vast amounts of debt is to turn to Asia or the US, but it will come at a dearer cost as the pool of capital allocated to fossil fuel is starting to shrink even in those markets.
Materials sector drives ASX to three-week high
Australian shares closed at a three-week high on Friday, with performances from the materials and tech sectors buoying the market.
Fundies realise riches from energy crisis they saw coming
Australia’s leading fund managers have made the most of the energy crisis, reaping the rewards of soaring gas, coal and oil prices.
SEC poised to allow first bitcoin futures ETF
The regulator was unlikely to block the products from starting to trade next week, said sources who asked not to be named.
Rio Tinto cuts iron ore guidance; Qantas, travel stocks lift
IAG sued by ASIC. Rio flags “difficult” quarter. Qantas in $802m land sale. Hub24, Netwealth climb again. Morgan Stanley hikes Macquarie valuation 37pc.
Opinion
The Coalition climate deal that now has to happen
Failure to agree on net zero by 2050 would leave the Prime Minister empty-handed in Glasgow and hollowed-out at home. This is the last best chance that must be taken.
Editorial
The most abject failure of leadership in living memory
Prime ministers are supposed to make the case for change and then discipline their governments. Scott Morrison does not fulfil this most basic task.
Columnist
Risk of conflict between China and US ‘at almost 50pc’
While lots of people talk about the risk of war without actually understanding the odds, new research sheds light on the probability of major power conflict.
Columnist
PM won’t entertain a ‘big Australia’ on cusp of net zero
Scott Morrison is not about to inflame the anti-immigration right while wrangling the Nationals to achieve the meaningful climate policy no Liberal leader has.
Political editor
Why Australia needs a security rebalance
The pandemic has blown up any idea that we can easily spot the future threats to Australia. So how do we prioritise our finite security resources?
Contributor
Morrison forced to fight the last war on climate change
Rebel Nationals are complicating Scott Morrison’s ability to sell a climate change policy that will keep the lights on, costs down and jobs and investment up just in time for Glasgow.
Columnist
Politics
Scott Morrison to attend Glasgow climate summit
Prime Minister Scott Morrison has ended weeks of uncertainty by committing to attend the COP26 climate summit.
There was no ‘freedom day’ for live music
A lean Christmas and an uncertain new year face Australia’s live music scene. The once $1 billion industry has been left crippled by the COVID-19 pandemic and border closures.
Exorcist trilogy may to move to US over Australian rebate rules
Pressure is building on the Morrison government over changes to tax offsets designed to support major film and TV productions in Australia
Victoria reopens for vaccinated interstate travellers
All vaccinated interstate travellers will be able to enter Victoria after the state abandoned border restrictions from next Wednesday.
MUA suspends Fremantle Port strikes ahead of federal intervention
The wharfies’ union halts three months of industrial action before a federal government push to terminate the strikes because they were damaging the WA economy.
SPONSORED
World
British MP stabbed to death while meeting constituents
A 25-year-old was arrested, as politicians from all sides reeled in shock at another killing of an MP, five years after the murder of Jo Cox.
Former Boeing chief test pilot indicted over 737 Max crashes
Prosecutors allege the former test pilot withheld critical information from regulators in an attempt to save Boeing money.
Why Italy is making every worker show a vaccine passport, every day
Prime Minister Mario Draghi has launched a bold and tricky experiment. But Italians, traumatised by last year’s COVID-19 nightmare, seem ready to comply.
China doubles down on zero-COVID strategy
As Australia and the rest of the world prepares to open its borders, China is becoming increasingly isolated as it ramps up construction of mass quarantine centres around the country.
Wanted: More flights, more travel deals, less red tape
NSW announced quarantine free international travel will start in November but the rest of the country has a long way to go to catch up.
Property
- Opinion
- Flat Chat
How landlords are protected when levy bills land
While strata schemes can impose penalty interest on unpaid levies, a lack of cash in the kitty can have serious consequences when the building’s bills roll in.
Sydney house prices to rise 27pc: Westpac
Westpac is expecting Sydney dwelling prices to rise by 27 per cent this year, 5 percentage points higher than its previous forecast as the lockdown failed to slow strong market momentum.
Sustainability wins for listed property trusts
Listed property players have polled well in the annual GRESB rankings, a globally recognised green rating system for the sector, as Australia prepares for the international climate summit in Glasgow next month.
Office demand strongest among expanding government departments
Government departments are growing and dominate interest in new, large leasing deals, according to one of Australia’s biggest landlords.
HomeCo ditches $1b healthcare fund as it bulks up new REIT instead
HomeCo will look to funnel investor equity into its listed healthcare REIT, rather than into an unlisted trust after acquiring another $200m of assets.
Wealth
Coming soon: How I Made It, episode 2
Coming on October 17. Julie-anne Sprague talks to Jane Lu, the fast fashion entrepreneur who built a $50 million fortune in 10 years. Sign up wherever you get your podcasts.
Why being ‘sophisticated’ isn’t always smart for investors
More than 3 million Australians meet the so-called wholesale investor test, opening up a world of lucrative opportunities. But that freedom comes with a big catch.
Find your way through the bridging loan maze
Worried about being priced out of the market before your property sells? Here’s what you need to know about finances to tide you over.
Technology
Microsoft shutting down LinkedIn app in China amid scrutiny
The company says it has faced a ‘significantly more challenging operating environment and greater compliance requirements in China’.
New Sydney factory to build malware-free computers
The first component-level computer manufacturing facility on Australian soil is set to commence building “clean” secure data-centre computers early next year in Sydney.
Citi’s top crypto picks in Web 3.0
Web 3.0 means people will own, control and monetise their data. Crypto will form a big part of that, says Citi.
Work & Careers
MUA stand-down helps save bumper WA crop
The three-month wharfies’ strike saw hundreds of imported agricultural machines stranded at sea as the condition of unpicked bumper crops deteriorated.
Sydney University slugged with another $2m wage theft claim
Several universities have been caught up in what is turning into a wage theft scandal across the sector.
Life & Luxury
- Opinion
- Performing arts
Is Adele’s Hollywood makeover the greatest ever?
With two Vogue covers, a property empire and a new album, the singer has had a radical A-list reinvention.
Gunfire Lullabies charts a journey from diplomat to novelist
Author Nore Hoogstad was posted to Indonesia at a dramatic moment in its history. Here she explains why she can’t write about her experiences in a memoir.
Here’s where you can meet Australian idols up close
Artist Ramesh Mario Nithiyendran’s vibrant “guardian” figures are unconventional and irreverent.
Zero to hero for Caulfield Cup favourite
Incentivise only won his first start six months ago. On Saturday, he’s favourite for the Caulfield Cup, with property guru Brae Sokolski cheering him home.
Icelandic thriller Lamb is more than just a woolly tale
Lamb avoids the shock-and-gore that has made the genre such a huge turn-off for anyone without a pronounced sadistic streak.
