Sanctions loom for Russia as Europe pushed closer to war
The United States, its European allies and Australia are poised to impose tough sanctions against Russia after President Vladimir Putin sent troops into eastern Ukraine.
- Opinion
- South China Sea
Australia’s China relationship enters dangerous new territory
The latest incident involving lasers used against an Australian spy plane has become a politically charged focal point for growing hostility between Canberra and Beijing.
- Opinion
- Energy transition
Why Scott Morrison is wrong on AGL
There is no reasonable case on power price and supply grounds for any veto of the Brookfield/Grok Ventures takeover bid by the Morrison government, writes Kerry Schott.
- Opinion
- Iron ore
Beijing targets iron ore price with its latest intervention
Beijing is now extending its market intervention beyond the tech sector, and looking at ways to control soaring prices, particularly in the crucial iron ore market.
Unions fear mass job losses if AGL takeover closes coal by 2030
Atlassian billionaire Mike Cannon-Brookes said 10,000 jobs would be created by spending $20 billion on new renewable projects, but only 600 would be ongoing.
Takeover bid ‘not credible’, ‘too simplistic’: AGL CEO
‘Someone’s got to pay’ if the energy giant’s coal power plants shut in 2030, says chief executive Graeme Hunt, warning of the impact on consumers.
- Exclusive
- Super wars
Super funds eye corporate credit amid ‘overwhelming’ inflows
Former prime minister Paul Keating says funds need to change their investment strategies, including lending more to corporates and participating in IPOs.
Why boutique accounting firms have the edge when it comes to attracting staff. In your inbox every Wednesday.
Energy transition
- Opinion
- Chanticleer
AGL boss calls bid a distraction he can’t ignore
Graeme Hunt isn’t impressed with the bid from Brookfield and Mike Cannon-Brookes. But he may still face a fight to win investors over on his demerger plan.
- Opinion
- Energy transition
Is the AGL dream team the PM’s climate saviour?
The bid to decarbonise Australia’s power giant could allow the government to let the market carry the transition risk and show the climate independents that private enterprise has it covered.
‘No precedent’: AGL deal would kill Keating’s energy reforms
The potential $5 billion buyout of AGL is shaping up as an “unprecedented” test case for the ACCC, according to experts.
Cannon-Brookes’ AGL bid faces Morrison veto
Mike Cannon-Brookes has hit back at the Morrison government, saying a faster switch from coal to renewables would cut power prices and not destabilise the grid.
- Opinion
- Energy transition
Cannon-Brookes has economics on his side in AGL bid
The government is apprehensive about more early closures of coal-fired power stations, but it will be the economics, not politics that determines the timing.
ukraine crisis
What’s at stake for the global economy if Russia invades Ukraine
An outright attack by Russian troops could cause dizzying spikes in energy and food prices, fuel inflation fears and spook investors.
US slams Russian peacekeepers in Ukraine as ‘nonsense’
The deployment of what Russia called a peacekeeping operation in eastern Ukraine is “nonsense”, the United States told the UN Security Council on Monday.
Putin moves troops into breakaway Ukraine regions
Russia begins a ‘peacekeeping’ operation after recognising the independence of Ukraine’s breakaway eastern regions. The UK and EU say it’s time for sanctions.
PM warns of ‘terrible consequences’ after Russian troops enter Ukraine
Scott Morrison says Vladimir Putin’s claim troops are peacekeepers is “nonsense” and promises to hit Russia with globally co-ordinated sanctions.
- Analysis
- Ukraine crisis
Where will Putin draw the line?
If the Russian President stops at the current line of control, he gets a lever over Ukraine’s future. If he pushes into Ukraine-controlled Donbas, he sets dominoes falling.
Companies
Cochlear spends big on inventory to avoid supply chain crunch
Cochlear boss Dig Howitt says spending big on raw materials and semiconductors gives the hearing implant maker a fighting chance in global supply chain battles.
Stokes says new ‘paradigm’ is good for Seven as profit jumps
Ryan Stokes says Seven Group is leveraged to higher inflation amid booming demand and supply constraints, saying he’s never “seen a dynamic like this”.
Coles boss: higher oil prices, lack of migration to push up inflation
Steven Cain says its home brands will grow further as consumers seek value amid rising household costs.
Noumi to pay $860k in local legal costs of its supplier
The group formerly known as Freedom Foods will pay the Australian legal costs of its supplier Blue Diamond Growers to settle a long-running dispute.
ABC’s login plan to stem viewer exodus fuels privacy fears
The ABC’s iview service is mandating sign-ins using ABC accounts to stem the tide of younger audiences abandoning free-to-air television for digital services.
Alumina warns freight costs to remain high for 2022
Alumina said net profit after tax during the 2021 year totalled $US187.6 million ($260.7 million), up from the $US146.6 million it reported a year earlier.
No-shows, fewer crashes: AMA’s wild COVID ride
Australia’s biggest smash repairer AMA has just suffered its lowest six-month workload since the pandemic struck two years ago, helping trigger a $48 million loss.
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Markets
ASX retreats 1pc as Russia’s threats rattle shares, boost oil
The S&P/ASX 200 Index closed 72.3 points, or 1 per cent, lower at 7161.3 as Nanosonics fell 13.1 per cent to $4.1, and Cochlear firmed 9 per cent to $207.37.
- Opinion
- Iron ore
Beijing targets iron ore price with its latest intervention
Beijing is now extending its market intervention beyond the tech sector, and looking at ways to control soaring prices, particularly in the crucial iron ore market.
Why this US fund manager is bullish on Taiwan chipmaker
GMO, the fund manager made famous by bear Jeremy Grantham, is optimistic about Taiwan semiconductor giant TSMC.
Global economy in for another tumultuous ride
An outright attack by Russian troops could cause dizzying spikes in energy and food prices, fuel inflation fears and spook investors.
Ukraine rattles shares; Nanosonics, Zip Co, Sezzle dive
Shares fall 1.4pc, US futures plummet. Tech sector drops 4pc. Cochlear, Costa, Hub24 up on results. Coles pays flat dividend. Oil, gold up, bonds fall. Follow the latest here.
Opinion
The first blood of ‘great power’ politics
Political theorists have talked of the return of great-power realpolitik for some time. Now the Russian President has gone to the brink, and maybe beyond.
Editorial
Why Scott Morrison is wrong on AGL
There is no reasonable case on power price and supply grounds for any veto of the Brookfield/Grok Ventures takeover bid by the Morrison government.
Contributor
Putin reveals Russia’s naked aggression
New economic sanctions against Russia won’t be enough to persuade Putin to alter his deadly course of redrawing the map of European security and borders.
Columnist
Australia’s China relationship enters dangerous new territory
The latest incident involving lasers used against an Australian spy plane has become a politically charged focal point for growing hostility between Canberra and Beijing.
North Asia correspondent
Media Watch misses the Adore Beauty storylines
Media Watch’s confused critique missed the fact that there was more than one storyline to Adore Beauty covered by The Australian Financial Review.
Editorial
National security needs unity, not partisanship, in a world on the brink
The national interest demands a security debate based on vision, not viciousness and claims of disloyalty.
Contributor
Politics
Unions fear mass job losses if AGL takeover closes coal by 2030
Atlassian billionaire Mike Cannon-Brookes said 10,000 jobs would be created by spending $20 billion on new renewable projects, but only 600 would be ongoing.
Nationals flag billions more in project promises after net zero deal
The Nationals anticipate promising billions more on regional infrastructure and telecommunications projects between now and the federal election.
‘No precedent’: AGL deal would kill Keating’s energy reforms
The potential $5 billion buyout of AGL is shaping up as an “unprecedented” test case for the ACCC, according to experts.
Chinese navy reckless and unprofessional: Morrison
The Defence Department has essentially accused China of breaching international law and lying about it.
- Analysis
- Superannuation
Super’s private credit push comes with challenges
The superannuation sector is finally ready to step up as a major lender to the economy. But can they do it on their own?
SPONSORED
World
- Analysis
- Ukraine crisis
Where will Putin draw the line?
If the Russian President stops at the current line of control, he gets a lever over Ukraine’s future. If he pushes into Ukraine-controlled Donbas, he sets dominoes falling.
What’s at stake for the global economy if Russia invades Ukraine
An outright attack by Russian troops could cause dizzying spikes in energy and food prices, fuel inflation fears and spook investors.
- Opinion
- South China Sea
Australia’s China relationship enters dangerous new territory
The latest incident involving lasers used against an Australian spy plane has become a politically charged focal point for growing hostility between Canberra and Beijing.
EU leaves Australia behind with new Myanmar sanctions
By targeting a key oil and gas enterprise, the bloc could succeed in limiting the military’s use of foreign currency.
US slams Russian peacekeepers in Ukraine as ‘nonsense’
The deployment of what Russia called a peacekeeping operation in eastern Ukraine is “nonsense”, the United States told the UN Security Council on Monday.
Property
Sydney house prices record slight fall
The rolling 28-day change in the CoreLogic daily index shows Sydney prices slipped into negative territory on February 19 – the first time in 16 months.
- Exclusive
- Proptech
Own now, pay later: FrontYa launches new property ownership model
First there was rent-to-own, now there’s a new co-investment property partnership model pitched at people struggling to save for a home loan deposit.
Rain, hail or shine, investors bidding hard for commercial property
There was plenty of competition for a range of commercial property assets that went to auction in Sydney.
Rental supply set to shrink as landlords sell up
Available rentals are set to fall to critical levels across 320 suburbs as investors sell up.
Melbourne vegetable farmers cash in as developer ID Land bulks up
The 59-hectare site about 60 kilometres from the centre of Melbourne is expected to yield around 1,200 housing lots after rezoning.
Wealth
- Opinion
- Investing
Investments to avoid in 2022
Rising rates make the “boring” profits of companies such as Amcor, Ampol and Transurban look more attractive than tech companies promising “blue sky” cash flow in 20 years.
- Opinion
- Sharemarket
Time to look beyond US to Europe and Japan
With the case for S&P500 domination no longer clear-cut, macro factors favour European and Japanese equities.
Super balances could get a boost from $5000 baby bonus
The top-up would significantly reduce the gender gap in super balances, says the Association of Superannuation Funds of Australia.
Technology
Atlassian founder-backed Zoomo zips up $28m raise
Early Lyft and Beyond Meat investor Collaborative Fund, Mitsubishi and SG Fleet have tipped into a top-up raise for e-bike start-up Zoomo.
- Exclusive
- Skills shortage
From wedding planner to cloud engineer
NAB will bring in more than 500 new tech interns this year from a variety of backgrounds as it tackles a growing list of digital projects.
- Opinion
- Billionaires
New book on PayPal recalls Elon Musk and Peter Thiel’s wild early days
Ambitions and emotions run hot in ‘The Founders’, Jimmy Soni’s intensely magnetic story of how an ensemble of entrepreneurs launched the online payment giant.
Work & Careers
Neil Balnaves, extraordinary trailbazer and benefactor, dies at 77
The philanthropist and former television executive is being remembered for his role in shaping independent production in Australia.
Execs are switching jobs even more than their subordinates
Executive search firms are reporting increased levels of job switching in the C-suite as companies revamp leadership teams to drive transformation and growth.
Life & Luxury
Flying cars in the outback show the next wave of electric transport
There’s a growing shift to electricity to provide what was formerly a high-octane thrill. Here’s what that means for you.
After work, Deliveroo Australia’s CEO swaps bikes for bees
After receiving a one-day beekeeping course for his birthday, Ed McManus was buzzing. Now, his honey is in high demand.
Greg Norman has failed horribly again. Here’s why.
The most famous choker in Australian sporting history has fallen short again. This time with his plan to tear down golf’s PGA tour with $US20 million purses.
Can MDMA save a marriage?
For some couples on the brink of divorce, taking the illegal psychedelic drug was a last resort – but it ended up being the only thing that worked.
Sidney Nolan, Emily Kame Kngwarreye, come out of the blue
Get in quick: A selling exhibition of works by some of Australia’s most acclaimed artists is set to surprise when it opens in Melbourne next month.
