Australia Decides
Full election results- Opinion
- Foreign relations
Albanese’s political skills should serve him well in foreign affairs
Less than a week ago, Anthony Albanese was shaking hands with warehouse workers. Now he’s appearing on the world stage at the Quad meeting - and he looks pretty comfortable there, writes Phillip Coorey.
Quad leaders unite to condemn Russia in warning to China
Australia, the United States, Japan and India sent their strongest signal so far that a Ukraine-style invasion in Asia will not be tolerated
Drop the trade bans and we’ll talk, Albanese tells China
China should dump its tariffs on Australian exports if it is serious about mending relations with Canberra, Anthony Albanese has suggested.
Barnett ‘right on’ Scarborough tanking Labor’s 2030 goal, says Bandt
Adam Bandt indicated that opening new gas and coal investments like WA’s Scarborough, the NT’s Beetaloo and Santo’s NSW project are red lines for the Greens.
- Opinion
- Chanticleer
The ACCC just handed the new Comms Minister a gift
The regulator has blindsided NBN Co by rejecting its proposed aggressive price increases for wholesale broadband, opening the way for a reset of its economics.
Oaktree Capital works up Xpansiv funding proposal
The US alternatives giant is understood to be the mystery firm stalking Australian IPO candidate Xpansiv.
Star’s O’Neill briefed select investors, ‘hoped’ it helped share price
John O’Neill also told the inquiry Star’s board approved two allegedly misleading ASX statements because it was under ‘stress’ to comment as ‘there had been a lot of negative publicity [and] the share price was under pressure’.
What the heads of PWC, EY, KPMG and Deloitte really think of Labor’s plan to cut back on consultants.
Companies
Surging gas prices raise fears of energy crisis
A doubling in wholesale gas prices after electricity prices that have risen five-fold have triggered fears of an energy price crisis similar to Europe’s and warnings the new government will fall short of targeted price reductions.
Cimic to name Pedro Vicente as next CEO
Australia’s biggest construction group will appoint another Spaniard as its next chief executive officer.
Home building faces a ‘shallow’ 20 per cent decline
Even as higher rates and affordability cut demand for houses, the boom will level out above previous troughs, an industry group says in its latest forecasts.
ASIC wants brokers to avoid pitfalls of overly complex advice laws
The ASIC chairman also told a Stockbrokers and Investment Advisers Association event the regulator would crack down to enforce new product design and distribution duties.
- Opinion
- Chanticleer
The ASX’s new ‘infrastructure’ giant is also a takeover target
History says The Lottery Corporation will be attractive to the big private capital players who love infrastructure-like businesses.
Tougher casino laws in Victoria designed to ‘hold Crown to account’
The state government has responded to the findings of the bombshell royal commission last year into the practices of the casino operator.
AGL demands correction from Cannon-Brookes
AGL’s chairman has formally written to Mike Cannon-Brookes asking him to correct a false statement and to cease making misleading assertions about the demerger.
Companies in the News
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Markets
ASX drops 0.3pc, dragged lower by tech shares
The S&P/ASX 200 Index fell 0.3 per cent to 7128.8 points. Tabcorp fell more than 80 per cent after completing a demerger. Nufarm shares dropped 14.6 per cent.
Virtus twist coming as shares cross at $8.15, BGH to increase bid
A big day for Melbourne buyout firm BGH Capital looks like it could be about to get even bigger.
- Opinion
- Inflation
Are we heading for stagflation?
When people hear “stagflation”, most think of the late 1970s and early ’80s, but there’s no evidence that we’re facing anything comparable now, writes Paul Krugman.
- Exclusive
- Hedge funds
Second VGI breakaway firm to launch as Regal deal nears
Long-term VGI Partners fixture Robert Poiner is launching a new firm after leaving his former shop last year.
Iron ore poised for second-half bounce
Chinese steel demand is expected to recover as lockdowns ease and stimulus becomes more effective in the September quarter.
Opinion
Albanese stands tall in the Quad
Anthony Albanese couldn’t have hoped for a better opening to his prime ministership as he met fellow world leaders in the Quad.
Columnist
Albanese ticks all the boxes at Quad but China remains a challenge
The PM got an early taste of the competing pressures he faces in framing Australian China policy. As Beijing extends another olive branch, Washington toughens up.
Historian
Climate policy must not be blown off course once again
Both political and economic integrity demand that Labor sticks to its climate mandate. But the government must start detailing how it will get there.
Editorial
The Liberal Party lost by standing for nothing
Rather than pander to a loud and privileged elite in teal seats, the Liberal Party must start asking itself what it believes in and seeking support for policies that reflect those beliefs.
Columnist
This teal independent wants tax reform
The Labor government needs to come up with a package of reforms and a clear time frame to address the twin challenges of productivity and sustainability.
Contributor
Climate, housing, social policies will define Labor’s success
Anthony Albanese has a mandate to change the country – Australia needs more than another do-nothing government that shirks major reform.
Columnist
Politics
Dutton and Ley on track to lead Liberals
Former home affairs minister Karen Andrews has ruled herself out of the race to become deputy Liberal leader, endorsing former environment minister Sussan Ley.
Pitt supports Joyce as leadership contenders grow
Nationals deputy leader David Littleproud is talking to colleagues about a possible bid to replace Barnaby Joyce, as a possible party room fight looms.
Ley is ‘top contender’ for Liberal deputy job
Karen Andrews has tapped out of the Liberal deputy race, saying Ley is the favourite to take the spot; PM said Australia’s stance on Taiwan has not changed; Albanese also confirms Australia will host next year’s Quad talks. Follow updates here.
Albanese commits to ‘more resilient Indo-Pacific region’
Anthony Albanese has assured Indo-Pacific leaders of Australia’s commitment towards the region’s top security dialogue, and listed climate change as the main economic and security threat to the region’s island states.
Chalmers sees no quick fix to economic challenges
‘No government can click their fingers and all of a sudden, make a trillion dollars of debt disappear,’ says the new treasurer.
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World
Japan’s PM flags closer co-operation with Australia in the Pacific
Fumio Kishida says he wants to deepen security ties with the new Albanese government but has no plans to join AUKUS.
UK budget deficit smaller than feared but stagflation menaces
The deficit has fallen sharply since the height of the pandemic, but soaring inflation and the growing risk of recession are casting a shadow.
SEC prepares to crack down on misleading ESG investment claims
The US regulator is preparing rules to specify disclosures to be made by investment funds that use terms such as ESG, sustainable or low-carbon.
The refinery standing between Germany and a Russian oil embargo
A Russian-owned refinery, linked to a Soviet-era pipeline, is a reminder of Germany’s past and a stumbling block to efforts to cut off Russian oil.
- Opinion
- Trade wars
Globalised Asia is uneasy with trade sanctions
Asian states are generally loath to alienate a major power, especially a major commodity exporter. Those that depend on Russian imports worry about the effects of shortages and price increases at home.
Property
Home building faces a ‘shallow’ 20 per cent decline
Even as higher rates and affordability cut demand for houses, the boom will level out above previous troughs, an industry group says in its latest forecasts.
Creating an experience key to Sydney CBD future, says planning boss
Head planner sees potential long-term benefits from pandemic lockdowns as the city’s central business district starts to bounce back.
$500m Melbourne shopping plaza redevelopment gets go ahead
Developer Time & Place’s redevelopment of the Northcote Plaza shopping centre will include over 600 apartments across four towers.
He used to work for the Pratts. Now he’s a fellow billionaire
It took patience, a passion for property and a lot of petrol-pumping for Melbourne entrepreneur Nick Andrianakos to rise to the Financial Review Rich List.
Vicinity’s $700m plan to add office, apartment towers to mall
The Box Hill project is just one of a series of development initiatives across its 60-mall portfolio as Vicinity looks to exploit its well-located swathes of suburban real estate.
Wealth
- Opinion
- Australian recession
When it comes to risk of a global recession, ‘3’ is the magic number
Just as 3 per cent is a critical growth threshold, there are also three critical risks on the horizon in the US, Europe and China.
- Opinion
- Sharemarket
Dangerous to buy the dip on growth stocks
Over the last decade growth stocks have quickly bounced back after a setback. But what might be different this time is the outlook for inflation.
- Opinion
- Investing
Market uncertainty a good prompt to review your investment strategy
Selling can lock in losses, particularly if the money is not reinvested until the market has recovered and confidence returns.
Technology
Start-up valuations under pressure, good VCs still have dry powder
Start-up valuations are under pressure amid a public market tech sell-off, but a panel of venture capitalists has argued the turbulent public markets pose an opportunity for those investors who didn’t succumb to the market FOMO.
Airbnb gives up on China in shift to outbound travel
The San Francisco-based company will stop offering rental homes and experiences in the country which is continuing its aggressive COVID-zero approach.
- Exclusive
- Funding
Farquhar’s Skip Capital leads $20m start-up raise
The Atlassian co-founder’s investment fund has backed critical infrastructure digital twin Neara as demand surges after a number of worsening natural disasters.
Work & Careers
Unions erect barriers to business calls for immigration ramp-up
The income threshold for temporary skilled visa workers, frozen at $53,900 for almost a decade under the Coalition, is set to be a key battleground in the upcoming jobs summit.
Labor must stop price gouging on childcare: Jay Weatherill
Labor’s childcare policy is a force for economic good, but it must ensure providers don’t gouge parents with higher fees.
Life & Luxury
What drives up your cholesterol really?
Researchers say you should avoid boiled or plunger coffee because it raises your levels more than other kinds. But should blame the biscuit instead?
How to master the pushup
Pushups are an almost universally known exercise, but getting the most out of them requires good technique. Here’s what you need to know.
Australian research offers clues as to why some babies die of SIDS
Scientists in Sydney have found that some babies at risk of sudden infant death syndrome, or SIDS, have low levels of an enzyme, paving the way for the possibility of a screening test.
Can Citroën win you over with this ‘mash-up’ car?
It’s not too dear, it has nice design touches, and promises a magic carpet ride. So, what’s not to like about the Citroen C4 Shine?
ACO Underground returns with rock, pop and shock at posh venue
The Australian Chamber Orchestra’s creative wild child will be let loose once more on June 4, this time at the band’s sleek new digs in Walsh Bay.
