- Exclusive
- Venture capital
Investors ‘beating down the door’ to get into high-growth Aussie VCs
New figures show funds pouring into Aussie venture capital as local stars such as Blackbird Ventures ward off the challenge of global giants such as Sequoia Capital and Accel.
- Live
- Need to Know
Victoria records 1189 cases, NSW jumps to 804
Victoria has recorded 1189 COVID-19 cases and NSW has jumped up to 804 cases; The PM is in Melbourne to announce a deal with Moderna; WA will be sealed off from the rest of Australia until February 5; UK reports first death from omicron variant. Follow updates here.
- Live
- Markets Live
ASX to slide; COVID costs weigh on Woolworths’ earnings
Australian shares are poised to dip at the open; shares on Wall Street ended lower; bitcoin falls 7 per cent; iron ore prices move higher. Follow the latest here.
- Opinion
- Chanticleer
Why bosses face a minefield in the move to hybrid work
The shift to a different model of employment might be the biggest managerial challenge in generations. There will be real problems in this grand experiment.
Victoria wins race to make Moderna mRNA vaccine
Melbourne has beat out rival bids to become the home of messenger RNA vaccine technology in Australia, set to help protect against future pandemics
- Analysis
- Nuix investigation
How Macquarie (and ASIC) missed red flags on Nuix
ASIC’s role leading up to last year’s IPO debacle shows a cascading series of questionable calls by regulators.
- Exclusive
- Inflation
Australia won’t have a US-style inflation spike
Australian businesses need to plan for higher inflation but price spikes in America won’t be replicated in Australia, says EY.
Need to know: The biggest stories in business, markets and politics, and why they matter, in your inbox at 8pm.
’TIS THE SEASON
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.
- Opinion
- Review
12 tech Christmas gifts that are worth the wait
Running late with Christmas shopping? You’re not alone. The whole technology industry is running behind.
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.
The Aussie mansions renting out for $100,000+ a week over the summer
Australia’s super wealthy aren’t taking their chances overseas. Instead, some are dropping $110,000 a week for palatial holiday pads at home.
- Opinion
- Food & drink
14 Christmas gifts for wine and spirit lovers
Top options for under the Christmas tree include a $5750 whisky, gift packages curated by a Master of Wine, and a selection of boozy stocking fillers.
The Financial Review has provided the first draft of the history of Australian business, and the nation, over the past seven decades.
Companies
Small and medium business loan scheme extended but guarantee slashed
Federal Treasurer Josh Frydenberg says cutting the guarantee signals the economy is healthy, but others warn hardest-hit SMEs are unlikely to benefit.
Rio Tinto to cancel Mongolia’s $3.2b debt
The decision is part of a plan to push forward with expanding the giant Oyu Tolgoi copper project that’s been beset by years of disputes and delays.
AdBlue shortage sparks run on Supercheap Auto and Autobarn stores
The Supercheap Auto retail chain has imposed limits on how much customers can buy, while Autobarn expects to sell out in a week.
Australia’s top 60 CEOs support workplace flexibility
The country’s leading chief executives say the new way of working is here to stay and hybrid models will be commonplace next year.
Buy now, pay later moves in on SME loans
Cloudfloat has raised $30m to lift funding of SME buyers and suppliers with an instalment product, the business-to-business equivalent of buy now, pay later.
Crown Resorts mulls sale of “non-core” assets
Crown Resorts is confident it will open its Sydney casino early next year and has flagged that the scandal-riddled casino empire could divest “non-core” assets.
Client, employee demands push law firms towards net zero
Law firms are cashing in on the push to net zero while staff demand they improve their game on cutting emissions.
Companies in the News
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Markets
Morgan Stanley advises large-cap equity focus
The US Federal Reserve’s pivot to a more aggressive tapering schedule poses a larger risk for asset prices than most investors believe, Morgan Stanley said.
What happened in markets overnight
Australian shares are poised to open lower as global investors position for a faster taper by the US Federal Reserve. Bitcoin tumbles.
- Exclusive
- Cryptocurrencies
Mark Carnegie lists new crypto company in Singapore
The venture capitalist has partnered with billionaire F.F. Wong and moved to the city-state, which he feels is more receptive to fast-moving cryptocurrencies.
The part of the economy making woeful progress
Productivity grew at a paltry 0.2 per cent last financial year, continuing a decade-long deterioration.
Magellan falters, Life360 triples in mixed year for blue chips
The year’s best performers span tech and mining companies, while the laggards include financial stalwarts AMP and Magellan.
Opinion
Call for inquiry into media diversity is a political stunt
Waging a partisan vendetta against a news media organisation should not be part of the governing plan of the alternative government in the run-up to next year’s federal election.
Editorial
WA closed for Christmas
Mark McGowan is mainly hurting those WA families whose fully vaccinated loved ones in the eastern states will not be able to go home for Christmas again this year.
Editorial
Morrison’s new age of stagnation
Yes, the economy has rebounded -–but only to its pre-pandemic levels of unreformed mediocrity.
Columnist
State visit shows China, climate convergence with Australia’s forgotten friend
Australia has the opportunity to renew a trade partnership and establish a clean energy foundation for the deepened security ties between Canberra and Seoul.
Editorial
This is how big tech avoids full financial disclosure and scrutiny
An outdated set of regulations is making it much harder for regulators, investors, customers and citizens to really understand the individual market positions of the tech giants. That makes it impossible to protect markets – or democracy.
Contributor
Catch the energy superpower tide to defeat recovery headwinds
Committing to stronger action on the climate is an opportunity for Australia to put the years of stagnation behind it, and move into a new era of rising real incomes.
Contributor
Politics
Morrison stares down omicron: ‘It’s manageable’
Australia’s borders will open to foreign skilled workers and students on Wednesday, and travel bubbles with Japan and South Korea will begin.
‘I don’t pretend we got everything right’: PM
Scott Morrison has acknowledged mistakes were made during the pandemic but what ultimately mattered was that problems were overcome.
- Exclusive
- Inflation
Why Australia won’t have a US-style inflation spike
Australian businesses need to plan for higher inflation but price spikes in America won’t be replicated in Australia, says EY.
More tax refunds ‘reckless’, Treasurer warned
Extending the ‘temporary’ $8 billion low and middle-income tax offset for a fifth straight year would be detrimental, economists say.
Queensland warned to expect spike in cases as border reopens
Queensland Premier Annastacia Palaszczuk says the border reopening with NSW and Victoria is a ‘special time’, but health authorities warn there will be an increase in COVID-19 cases.
SPONSORED
World
Hope amid the rubble: Kentucky tornado death toll could fall
Up to 70 people at a candle factory had been believed dead, but that number could be revised down to 16 or fewer, a company spokesman said.
Taliban seek ties with US, other ex-foes
Afghan Foreign Minister Amir Khan Muttaqi said the country wants good relations with all countries and has no issue with the United States.
Business beats the China deep freeze with climate talks
Big business hopes talks with top Chinese executives on climate change on Monday herald a breakthrough in the diplomatic deep freeze.
Air freight costs soar to record high
Prices have nearly doubled on key air freight routes linking manufacturing hubs in China to consumers in the US and Europe over the past three months.
Biden’s oil reserves sale yet to inspire action from others
While the US has granted its first release of reserve oil, and intends to issue another sale notice for 18 million barrels this week, there’s been radio silence from the other participants.
Property
Sydney dominates Melbourne for the 20 most expensive postcodes
Australia’s 20 most expensive postcodes are in Sydney, with the eastern suburbs, northern beaches and the north shore ranking highest, Domain data shows.
PwC partner snaps up western Sydney pub for $26.5m
The sale of the Pub@Rivo to a consortium headed by PwC partner Andrew Wheeler takes total sales of Stanford family pubs to $160 million.
Upsizers win breathing time to wait out the market
A couple of renovators sold at the top and - thanks to a stroke of luck - can sit out rising prices and construction costs before they re-enter the market.
Goodman and Lendlease ‘uniquely placed’ to lead on sustainability
Goodman will apply what it has learnt from its leading sustainable projects in Europe to Australia, Asia and the US as looks to drive action on climate change.
Charter Hall pops after two earnings upgrades in two months
As funds under management balloon, Charter Hall’s performance fees rise ever higher, sending its operating earnings more than 70 per cent up on a year earlier.
Wealth
- Opinion
- Property market
Summer strategies for property market
Off-market transactions continue to offer opportunities for those in the know – particularly this season.
Australia has a handful of new billionaires and two aren’t even 40 yet
Cryptocurrencies, technology and human capital are fuelling the rising fortunes of Australian entrepreneurs.
- Opinion
- Aged care
Should you disclose finances when going into aged care?
Self-funded retirees may find it less complicated to skip the formalities, knowing they won’t have to pay a means-tested fee of more than $28,792 a year.
Technology
Start-ups battle big business as tech skills shortage threatens growth
Australia’s tech start-ups fear competition from big companies for scarce tech talent will stunt their potential, as mediocre local talent demands sky-high pay.
- Exclusive
- Data analysis
Portal offers new front door for your government data
A national portal to enable easy access to all the Commonwealth’s data assets is the centrepiece of a new national data strategy.
- Exclusive
- Venture capital
Blackbird’s $10b return makes it Australia’s biggest VC
It is Canva’s largest backer, but the venture capital fund has backed a host of Aussie start-up successes and has revealed it has turned $1.3b into far more.
Work & Careers
What drives this young lawyer to mentor others
Born and raised on Darumbal country in Queensland, Lenique Lawson knew she wanted to help people but didn’t settle on a career in law until later in high school.
Union warns Woodside LNG protesters ‘threatening jobs’
The Australian Workers Union has called on protesters against the $16 billion Scarborough gas project to back off, arguing the project is a key part of the net zero emissions future.
Life & Luxury
Why Sydney’s giant chimneys will be covered in steel ‘vines’
An urban artwork by Chris Fox aims to make infrastructure more than just functional. But there’s a risk that projects just end up as decoration.
The world’s most exciting new restaurants
From Singapore to Saudi Arabia and places in between, destination dining has never looked so tantalising.
Succession at Jan Logan jewellers rings the changes
The matriarch’s youngest child talks Chapter Next for the brand and why cinema in the 1970s is the inspiration behind his first collection.
The luxury cars about to be hit by Australia’s diesel shortfalls
The AdBlue supply problem is not confined to truckies. The Land Rover Discovery, Audi Q7 and a range of Mercedes models are among other vehicles affected.
This exec loves getting his hands dirty on weekends
Jameson Capital director Jonathan Webster has a full-on side hustle: he’s also a Wagyu beef farmer.
