Albanese’s moment to step up is now
As the public tunes out in the run-up to Christmas, Anthony Albanese’s challenge is to become a lot more visible. Can he raise his profile in time to win the election?
Big tech sinks US stocks as traders rush into havens
Wall Street plunged, although some late buying helped ease the fierceness of the sell-off. The Australian dollar and bitcoin were hit in the rush to the exits.
SA toughens COVID testing for arrivals from NSW, Victoria, ACT
SA Premier Steven Marshall says shutting borders to its eastern neighbours is a real possibility as part of an effort to keep the omicron variant at bay.
Labor’s climate plan goes hard on heavy polluters
The policy was in line with demands by peak employer and business groups, but nonetheless is set to become an election battleground.
- Opinion
- Chanticleer
Time to rethink Berkshire Hathaway
Charlie Munger’s rare appearance at the Australian version of the Sohn Hearts & Minds Investment Conference drew attention to the conservatism that could well be holding back the company’s performance.
Global omicron cases to rise, threat level unknown
The UK Health Security Agency’s latest risk assessment of omicron: double vaccination will not protect you; Christmas parties are being cancelled across London; snow forecast for Hawaii. How the day unfolded.
Fund managers target unloved tech shares
Fund managers are betting on overlooked tech stocks to power portfolios through a pandemic rally that has wrongfooted investment legend Charlie Munger and have shaken off concerns about excessive valuations, inflation and the new COVID-19 strain.
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weekend reads
In omicron, a global experiment in lockdown vs freedom
China is locked up, Europe and Japan are battening down, the US is agnostic, south-east Asia is cautious, but Britain is letting the Christmas parties roll.
What everyone wants to know about omicron
Despite an exponential rise in cases in South Africa, there’s some hope that the new variant could be the beginning of the end for COVID-19.
How Slack took over the office ... and why some bosses hate it
What makes the corporate productivity tool insidious is also what makes it appealing, and sometimes dangerous.
- Analysis
- Jobs
The real reason 4.4 million Americans are quitting their jobs
A childcare crisis created by a dysfunctional schooling system has a lot to do with a record number of job openings in the US.
- Opinion
- Performing arts
Do we need to talk about Madonna’s bum?
The singer has made a career of using her body to shock people, so it’s no surprise that the semi-nude images she posted last week have blown up the internet.
life & leisure
The AFR’s pick of desirable books for Christmas
These recently published tomes do double duty as reference books and coffee-table statement pieces. They also make excellent gifts.
Seven leaders reveal their never-fail Christmas gifts
From stocking fillers that never fail to good picks for hosts, helpers and your mother-in-law, seven leaders tell us what they’re getting everyone – themselves included.
Say it with Morse code: Secret messages are all the rage in jewellery
Over the past two years, and particularly during the last Sydney lockdown, requests for bespoke pieces with hidden meanings have skyrocketed, say jewellers.
Far from the big smoke, five craftsmen offer gifts to love for life
Why blow your hard-earned dollars on stuff that has rolled off a factory production line when you can spend it on heirloom-worthy beauties from the bush?
Wellness in the wilderness at Pumphouse Point retreat
Lake St Clair in Tasmania is the perfect setting for an antidote to the stresses of this year – and the excess of Christmas.
Podcast | How Australia’s top entrepreneurs built their fortunes and what they learnt along the way.
Companies
La Nina floods cause havoc for farmers
More than 70 per cent of farmers in NSW are yet to harvest their winter crops as flood waters move south from Queensland.
Plunging energy prices sink Vales Point power station
Power barons Trevor St Baker and Brian Flannery have slashed the value of the Vales Point power station after a 93 per cent fall in annual profits.
Fixing bank culture, systems a priority: Callaghan review
Australian Banking Association says a new banking code responds to Royal Commission, as well as digital banking take-up.
Moderna working ‘around the clock’ to fight omicron
The drugmaker’s co-founder, Robert Langer, told the Sohn Hearts & Minds conference the company will know in about a week how effective its COVID-19 vaccine is.
Without opposition, a2 Milk Company wins trademark rights
The branding was about a product that actually lacks an A1 protein.
Woolworths faces harder road in API tilt
The powerful Pharmacy Guild and the competition regulator are bigger roadblocks for the supermarket giant than for Wesfarmers in the takeover battle.
JustCo wins $1m payment from CPB after co-working dispute
CPB Contractors’ attempts to avoid paying money owed to JustCo after abandoning office space used for a tender bid have been given short shrift by the courts.
Companies in the News
Search companies
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Markets
All the picks from Sohn Hearts & Minds
Thirteen of the leading minds in funds management revealed their top stock picks for this year’s virtual Sohn Hearts and Minds event.
Fund managers target unloved tech shares
Spotify, Megaport, Coinbase were among the tech darlings favoured by fund managers at this year’s Sohn Hearts & Minds conference.
Omicron pulls ASX 0.5pc lower for the week
The Australian sharemarket eked out a gain on Friday as investors awaited news on omicron’s virulence. The benchmark index fell 0.5 per cent on the week.
Crypto, stocks ‘crazier than the dotcom era’
Legendary investor Charlie Munger says he wants to make money by selling things that are good for people as he backed China’s approach to speculative excess.
Sohn: Spotify, Megaport, Pinnacle picked; Munger says ban crypto
Moderna co-founder tells Sohn: “I think what you’ll see is that it may not be as effective against this variant as it is against the original, but that doesn’t mean it won’t be effective.” Follow the latest here.
Opinion
Labor turns to the market to fix climate
Labor’s plan to use the safeguard mechanism as a carbon price will cut the cost of decarbonising and open up the opportunities it brings.
Editorial
Labor offers a far more ambitious climate plan
The opposition is offering a much more ambitious climate plan than the Morrison government, with the sorts of tangible policies voters can easily grasp.
Columnist
Calm down! Pay rises aren’t nearly as hot as the markets think
While the inflation and wages data in the US implies that interest rates should be much higher, stocks and bonds don’t want to believe it, writes Christopher Joye.
Columnist
The Fed must now fix its inflation error
Coming clean on how the US Federal Reserve misjudged “transitory” inflation will go a long way towards restoring precious credibility.
Contributor
Labor’s path to victory at the election is narrow
Pundits poring over the electoral map daily all reach the same conclusion – the minimum net seven seats Labor must win to form government are not easily identifiable.
Political editor
A Christmas trip to Singapore. What could go wrong?
A new baby to celebrate. The Singapore travel bubble is open. All the plans are made. As usual, COVID has other ideas.
Columnist
Politics
BHP vaccine mandate unlawful, Fair Work rules
BHP’s requirement that Mount Arthur miners get the jab has been rejected, opening up other employer mandates to challenge if they fail to properly consult workers.
- Analysis
- Climate policy
Labor aims high but not too high on climate
Anthony Albanese is no longer a “small target” on climate. But he’s not a big one either.
When standards fail: Parliament behaving badly
Kate Jenkins’ landmark report on conduct in federal government workplaces has revealed a rotten culture fuelled by alcohol.
Lots of vaccines promised to the rest of the world but deliveries lag
Experts warn Australia needs to pick up the pace of donations of vaccines to developing countries as the threat of new strains emerges.
- Analysis
- Federal election
Politicians are banking on voters being numb to red ink
With debt set to sweep past $1 trillion, more spending on the cards and no sign of offsetting revenue measures, voters seeking fiscal discipline at next year’s election face limited options.
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World
South Africa’s daily cases almost quadruple in four days
The country recorded 16,055 infections in the last 24 hours and the positivity rate accelerated to 24.3 per cent of tests.
US economy adds 210,000 jobs in November, jobless rate falls to 4.2pc
While the US labour market missed expectations for November, there were upward revisions to each of the prior two months.
Singapore’s $20.6 billion maritime bet
While Australia’s ports wallow near the bottom of world rankings, the city-state is planning decades ahead to consolidate its position in global supply chains.
In omicron, a global experiment in lockdown vs freedom
China is locked up, Europe and Japan are battening down, the US is agnostic, south-east Asia is cautious, but Britain is letting the Christmas parties roll.
‘I didn’t pull the trigger’: Baldwin
Alec Baldwin said in his first interview since the gun he was holding on a film set killed the cinematographer that someone is responsible, but it is not him.
Property
This tennis star just sold his Melbourne home for $15m+
Australian ace Lleyton Hewitt and his TV celebrity wife have offloaded their Toorak home of five years for up to $16 million – but there’s one thing missing.
Trump could pocket $140m in deal for money-losing hotel
Donald Trump’s DC hotel posted millions in losses and was the subject of fierce ethical debate as the former US president mixed his personal business with government.
Super funds’ swelling capital fuels buy-out bias
The prospect of real estate investment trusts (REITs) becoming vulnerable to privatisation by cashed-up super funds dominated discussion at this week’s Financial Review Property Summit.
Investor loan growth strengthens case for more lending curbs
Despite a fifth straight month of decline in new home loan commitments, economists expect further macroprudential limits on credit growth.
GIC partnership takes SCA Property into wholesale funds management
Fresh direction for major convenience retail centre owner SCA Property, which opens up new funds management revenue stream.
Wealth
Dementia a looming ‘disaster’ for ageing SMSF trustees
Billions of dollars are potentially at risk because scheme members have failed to plan for incapacity.
Property funds’ mega returns face new challenges
Inflation, new pandemic fears and growing costs of meeting environmental standards could slow property fund performance.
Fundies stay the course despite omicron risk
The COVID-19 variant has done severe damage to markets just a week after it was discovered, but many fund managers say it could be an opportunity and not a risk.
Technology
Flower power: How the pandemic helped this brand blossom
Fast-growing brand LVLY is making hay while the COVID-19 sun shines for its flower delivery services.
How Slack took over the office ... and why some bosses hate it
What makes the corporate productivity tool insidious is also what makes it appealing, and sometimes dangerous.
Apple tells suppliers iPhone demand has slowed
The iPhone maker is still on track for a record holiday season, with analysts projecting a sales increase of 6 per cent to $166 billion.
Work & Careers
BHP vaccine mandate unlawful, Fair Work rules
BHP’s requirement that Mount Arthur miners get the jab has been rejected, opening up other employer mandates to challenge if they fail to properly consult workers.
- Exclusive
- The Ashes
Botham questions choice of Cummins as Aussie captain
The former English Test great says he is not convinced Cummins can lead the bowling attack and captain the team, ahead of the Ashes series starting in Brisbane.
Life & Luxury
Meet the couture collectors obsessed with Chanel
Mark Walsh and Leslie Chin have amassed a 10,000-piece collection and have loaned 32 of their most prized items to the NGV’s exhibition on the designer.
Why your gut instinct is probably wrong
Psychologist Steven Pinker wants to make people aware of their biases and fallacies in his new book and podcast.
Chen Wenling has his first solo show in Australia
The Chinese contemporary artist is best known for his ‘red men’, which have featured in Bondi’s Sculpture by the Sea. A new exhibition also showcases his paintings and calligraphy.
Impress with five of the best champagne magnums this season
When things begin to bounce back, corks start popping again. What better way to celebrate than to go large with a magnum?
30 top new luxury watches for any occasion
What better than a watch to mark a moment? Choose from opulent options, top timers, added sparkle, back to the office or mission ready.
