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RBA.

Why does the RBA even bother forecasting interest rates?

While Tuesday’s RBA move looks messy, forward guidance is one of the central bank’s most powerful tools in a world where interest rates are already at zero.

RBA’s new messaging has ‘bought it more time’

The RBA’s decision to scrap its forward guidance has given it more flexibility, economists say, and an ability to stay dovish in the face of a rowdy bond market.

Westpac says the matter is under “strict confidentiality orders”.

Mystery Westpac sacking not unfair

Westpac’s firing of a 63-year-old manager without telling her why has been upheld by the workplace tribunal in what could be a test case on procedural fairness.

RBA signals end of easy money

Interest rates will rise sooner than expected, but that isn’t reflected in equity markets that are yet to include the less bullish scenarios in the bond market.

PM puts carbon capture on menu in Glasgow

Scott Morrison met a dozen of Australia’s mining and clean energy executives on the sidelines of the COP26 summit to discuss emissions technologies.

Australian dollar eases after RBA fights back hawks

The Australian dollar fell back after the Reserve Bank warned hawkish markets that a cash rate increase in 2022 was unlikely.

Morrison leaves Macron looking like a sore loser

The French have seen only their interests, not their customer’s, right to the bitter end.

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Glasgow Summit

Indian Prime Minister Narendra Modi presents his national statement on day two of COP26.

India’s 2070 climate pledge divides opinion

Prime Minister Narendra Modi’s importance to the fate of COP26 meant that many seemed willing to give him the benefit of the doubt.

Just how clean can two billionaires really be?

Two of the world’s richest businessmen are furiously writing billion-dollar checks in their race to shape the climate future.

Britain’s Prince Charles, right, greets India’s Prime Minister Narendra Modi, ahead of their bilateral meeting, during the COP26 summit.

Climate promises ‘nothing but blah blah blah’ without action

Western leaders used the opening of the COP26 summit in Glasgow to try to salvage support for concerted global action on climate change.

Biden left bare in Glasgow after progressives’ bluff fails

Powerful US senator Joe Manchin didn’t blink when his Democrat colleagues tried to pressure him into voting for a bill with bigger climate change investments.

PM takes his technology sales pitch to the world

Scott Morrison believes technological advances will heal the climate policy divide between developed and developing nations.

start-ups

First AML co-founders Bion Behdin, Milan Cooper and Chris Caigou are looking at international expansion plans after raising capital.

Investors pile in as ex-strategy consultant banks $29m for start-up

Blackbird Ventures has led a $28.7m round in First AML, after using its software to make sure it doesn’t back companies that facilitate money laundering. 

Dan Fitzgerald, Managing Partner of ReGen Ventures says the business case for investing in climate-friendly technology companies now makes clear sense from every angle.

Byron Bay-based $50m climate tech fund seeks to save the world

A new VC fund run from Byron Bay by a former Macquarie investment banker and hedge fund manager will target a boom in ‘nature-based’ climate tech solutions.

Nick Benson, founder of Atelier, which helps bring a range of new product ideas to life.

Meet the former consultant turning influencers into entrepreneurs

Behind every great social media influencer is a man who knows how to make and source a kick ass niche product for them to on sell to their followers. 

Atlassian’s $4b rival plans Aussie assault after big money funding

ClickUp, a fast-growing rival of Australian software giant Atlassian, is poised to make an aggressive push into the Australian market after raising $US400m.

Shorter weeks and free travel aimed at stopping ‘great resignation’

Australian tech companies are becoming creative in their bid to source and retain talent, as a new report shows one in four Australians plans to soon quit their job.

Podcast | How Australia’s top entrepreneurs built their fortunes and what they learnt along the way.

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Companies

Year of the commercial ‘megadeal’ in full steam

While industrial transactions have dominated the year so far, office and retail assets – even big ones – are back in investors’ sights.

Matt Heine and his father Michael want to capture the benefits of scale.

Wealth platforms yet to crack mass market

A flurry of takeover activity among the insurgents in the wealth platform space shows a market reaching maturity, the declining relevance of established players and the enormous unmet demand in the mass market advice.

If you’re hoping to holiday in once-popular Bali, you will need a negative PCR test 72 hours before leaving Australia and take further tests once landed and four days afterwards

Travel insurance costs to rise nearly 10pc

Holidaymakers heading overseas should expect higher travel insurance bills and to pay for costly PCR tests.

A scene from Disney+’s The Mandalorian.

Disney+ beating out Amazon Prime in race to second place

The arrival of the Star brand in February is helping Disney+ inch ahead of rival Amazon Prime Video.

How Spanish Mission cost Macquarie its chance at Cup glory

The best mare in the country, Very Elleegant, proved herself to be the best stayer today when she ran down the heavily backed favourite Incentivise to win.

Barclays counts the cost of Epstein probe as CEO Staley departs

The abrupt exit of Barclays CEO Jes Staley in the wake of a regulatory probe into his past ties with Jeffrey Epstein shines a spotlight on the bank’s culture.

Betty’s Burgers sales jump as takeaway soars

Parent company Retail Zoo has opened new stores throughout the pandemic and plans more in Australia and overseas.

Companies in the News

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Markets

Shares curtailed their declines on Tuesday after Philip Lowe, governor of the Reserve Bank, indicated rates would rise quicker than previously anticipated.

RBA flip-flop weighs on shares in volatile session

Australian shares edged lower on Tuesday after the Reserve Bank scrapped its prior guidance and commodity prices weighed on materials companies.

Reserve Bank Governor Philip Lowe.

RBA edges closer to rate hike

Governor Philip Lowe has acknowledged underlying inflation had picked up quicker than expected and signalled rate rises could begin earlier than forecast.

Lowe: rates could rise in 2023 or 2024

RBA says rate hike “entirely plausible” in 2023, drops yield curve control on earlier-than-expected progress towards inflation, holds cash rate at 0.1pc.

Bond traders ramp up bets on ‘big shift’ in global monetary policy

Investors are increasingly testing central bankers’ insistence that elevated inflation will be fleeting.

Inflation expectations point to accelerating wages growth

Evidence of elevated inflation expectations highlights that wages growth is climbing, while consumer confidence rebounded to its highest level since July 2021.

Opinion

Great carbon transition must commit to leaving no one behind

The market sees carbon neutrality as a profitable opportunity. But the greatest costs will be borne by those least able to make the transition.

Pru Goward

Columnist

Pru Goward

Australia’s vaccine-led escape from the gilded cage has begun

NSW and Victoria are now showing how other states - including WA - can safely start to rejoin the world as soon as their vaccination rates catch up.

The AFR View

Editorial

The AFR View

Big bets are coming due for Westpac and the RBA

Peter King is yet to convince investors he has the right approach and Philip Lowe is struggling to make the market have faith in his 2024 timetable for rate rises.

Why Meta should have been Facebook’s name from the beginning

There’s a lot to joke about in Facebook’s laughable attempt to escape its reputation as the internet’s most toxic company.

John Davidson

Columnist

John Davidson

The road to net zero passes through nuclear power

Opposition to nuclear power is on par with unscientific anti-vax conspiracy theories, and just encourages reliance on coal.

Education establishment fails the curriculum reform test

Bureaucrats and academics stubbornly hang on to education practices and pet ideas that have no basis in evidence.

Glenn Fahey

Contributor

Glenn Fahey
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Politics

Gladys Berejiklian addresses the media outside the ICAC on Monday.

ICAC findings on Berejiklian unlikely until 2022

ICAC ruling expected in 2022; NSW brings forward freedoms for fully vaccinated people, but unvaccinated people will have to wait until December 15; Victoria’s cases drop below 1000. Follow updates here.

NSW Premier Dominic Perrottet is confident Sydney is in for a “strong summer”.

Health experts mixed on early freedoms for NSW

Medical experts have differing views on NSW’s plan to open up completely when 95 per cent of the population over 16 has been double vaccinated.

Fully vaxxed Sydneysiders will have more freedoms from November 8.

Dancing is back: what you can do in NSW from Monday

Fully vaccinated Sydneysiders will have most of their freedoms back from Monday, November 8 after the state government brought forward its reopening road map.

Macron has slurred all Australians: PM

An unapologetic Scott Morrison says Emmanuel Macron has slurred all Australians by calling him a liar.

‘I don’t like losing’: Macron ‘knew’ the subs contract was in peril

Relations between Australia and France have hit a new low after French President Emmanuel Macron branded Prime Minister Scott Morrison a liar.

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World

Employees gather to wait for their COVID-19 tests at the Shanghai Disney Resort in Shanghai.

US business chiefs warn of expat exodus from China

With no exit strategy articulated, and just as the rest of the world reopens, US business leaders have warned Beijing that it risks accelerating the outflow of foreigners from China.

Jes Staley, boss of Barclays.

Jes Staley exits abruptly as Barclays CEO amid Epstein probe

Staley’s surprise departure caps a tumultuous six years as boss of the British lender amid the shadow of the investigation into sex offender and socialite Jeffrey Epstein.

China has already begun vaccinating young children. South-east Asia is likely to begin soon.

Now for the kids: FDA kicks off rush to vaccinate under-12s

The sign-off on Pfizer is the first green light for a Western-developed vaccine to be used in children younger than 12.

Biden hails EU-US steel deal as chance to curb ‘dirty’ Chinese imports

Washington and Brussels have set aside a long-running dispute to aim for a global arrangement to encourage low-carbon production.

Kishida, a former foreign minister, will prioritise Australia ties

Japan’s new prime minister is expected to make Australia a foreign relations priority as he continues his predecessor’s work bolstering security alliances in the region.

Property

Desperate home buyers risk ending up with lemons

Home buyers are being warned they risk purchasing properties with hundreds of thousands of dollars of defects unless they do proper due diligence.

Dexus seeds first opportunity fund with $245m in investments

The newly-seeded fund will range across investments in value-add, development and credit plays, delivering typically higher returns that accompany greater risk.

Pelligra sees good development upside in the corner site.

$8m penthouse on cards for Adelaide apartment project

Melbourne-based Pelligra will redesign the failed project with a focus on high-end finishes to appeal to local downsizers and returning expats.

Build it and they will come: $1b office tower above Pitt Street metro

In a sign of confidence in the city’s office market, work will start on the 39-storey tower even before any leasing pre-commitments have been struck.

Winim Funds Management snaps up Lane Cove site for $25m

An amalgamated site in Sydney’s lower north shore has been sold to the business and property fund manager amid rising demand for development sites within premium locations.

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Wealth

A hydrogen-powered car in front of a hydrogen production plant electrolyser.

What to consider before investing in hydrogen

Pricing estimates, its place in the global energy mix and where to find opportunities should be on the checklist.

Healthcare cloud solutions to watch

How to invest in technology companies that help manage patient and healthcare outcomes.

Check the Young Rich Lister horoscope

Our resident astrologer examines Australia’s wealthiest Millennials by zodiac sign.

Technology

University of Melbourne student Finn Blake, 21, says Facebook has been heavily intertwined in his life in both positive and frustrating ways.

Facebook’s Meta morph not enough to please 20-somethings

Rebranding or not, young Australians who have been using Facebook since high school have mixed feelings about the social media giant.

Mina Radhakrishnan, CEO and co-founder of :Different, a property management tech start-up.

Shorter weeks and free travel aimed at stopping ‘great resignation’

Australian tech companies are becoming creative in their bid to source and retain talent, as a new report shows one in four Australians plans to soon quit their job.

Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta in an effort to encompass its virtual-reality vision for the future.

Why Facebook has become Meta

Critics see the move as a timely attempt by Mark Zuckerberg to distance the company from its latest wave of scandals, but he says the shift has been planned for months.

Work & Careers

Ansa Finance manager Joshua Fuoco is also facing charges for managing a company while banned by ASIC.

Toorak finance broker taken to court over suspected underpayments

The businessman was “an intentional participant” in the alleged underpayments of staff, who the workplace watchdog claims were paid below minimum wage.

Wharfies sacked for refusing COVID-19 jab

The maritime union will defend the jobs of almost two dozen wharfies who were fired for not getting vaccinated against COVID-19.

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Life & Luxury

Fashions fizzle but frills abound at Melbourne Cup

The throng of celebrities was missing and high fashion was a low-key affair this year, but the celebratory mood was unmistakable.

Eric Swift, vice president and managing director for Australia and New Zealand at ServiceNow, skiing in Niseko, Japan.

How skiing benefits this executive’s career, seriously

ServiceNow’s Eric Swift takes the same approach to planning and teamwork, whether he’s skiing back country or performing his executive role.

Shot of a young hiker enjoying the view of the ocean from a lookout while camping AFR

Travelling close to home is here to stay

Slow days connecting with the Australian landscape were not only a balm during the pandemic, they reinforced that we might not need so many overseas escapes.

Vince Corry, part of owner of Incentivise, says the public has adopted the horse as their own.

Inside Incentivise’s old-school tilt at Melbourne Cup glory

Incentivise has emerged from nowhere to be the shortest-priced Melbourne Cup favourite since Phar Lap.

Under fresh NSW rules, there is a 180-day limit on short-term rental properties in greater Sydney, the Ballina area, Newcastle, Dubbo and the Clarence and Bega Valleys,

Why finding a holiday stay in NSW will be twice as hard

Online accommodation platforms have suspended thousands of short-term rental listings following the launch of compulsory registration in NSW on November 1.

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