The search is on for Australia’s most sustainable companies.
Xi: China-Australia ties deserve to be cherished
Australia and China buried the hatchet with a historic meeting between Anthony Albanese and President Xi Jinping on Tuesday night.
Sanjeev Gupta strikes deal to refinance nearly $5b in Greensill debt
After months of tense negotiations, the British billionaire has cemented an in-principle agreement for a hefty debt restructuring linked to the collapsed Greensill empire.
- Analysis
- China relations
It may not be a full China reset, but it’s a promising start
Anthony Albanese’s meeting with Xi Jinping is about putting a floor under the relationship. The ultimate test will be how many storeys will be built on top, writes Phillip Coorey.
- Opinion
- Chanticleer
AGL’s mammoth task has only just begun
The energy giant needs to find two things: a new chief executive, and $20 billion in capital to pay for achieving net-zero emissions.
Carbon trading on a tear as corporates place bets ahead of review
The surge in activity suggests growing business and investor confidence in ACCUs ahead of next month’s Chubb Review outcome.
Trump dealt another blow as key ally loses midterm race
The closely fought governor’s race in Arizona – a battleground state – was one of the most significant in the midterm elections.
- Updated
- Energy
AGL board must work as one, warns McKenzie
AGL chairwoman Patricia McKenzie said the four new Grok-nominated directors needed to get behind the company’s climate action plan which was also endorsed at the annual general meeting.
Australia’s two most influential corporate columnists, Tony Boyd and James Thomson, unpack the most important stories in business, markets and politics.
Companies
- Updated
- Energy
AGL board must work as one, warns McKenzie
AGL chairwoman Patricia McKenzie said the four new Grok-nominated directors needed to get behind the company’s climate action plan which was also endorsed at the annual general meeting.
Tiwi Islanders not ‘relevant persons’ for drilling approval: Santos
The oil giant made the claim as part of a legal bid to resurrect regulatory approval for its plans for new drilling in the Barossa gas field.
- Updated
- Earnings season
Economy resilient as cost pressures mount: CBA
CBA boss Matt Comyn said rising energy, wage costs and supply chains are top concerns for business to be discussed with Treasurer Jim Chalmers at a meeting of bank CEOs next week.
Incitec buys time as demerger plan splits investors
IPL boss Jeanne Johns is confident investors will back her plan to break up the fertiliser and explosives company, but dissenting voices remain.
FC Capital, Big Review TV’s financier sued by liquidator
The liquidators of Big Review TV, the collapsed online video play, are pursuing FC Capital and its CEO, after its role in the sharemarket scandal.
CBA boss Matt Comyn says he’s ‘shocked’ by FTX collapse
The spectacular failure of the FTX exchange will trigger a regulatory reckoning for the entire crypto sector, CommBank’s CEO said.
Sales surge for Xtek, makers of the ‘Ferrari’ of body armour
Xtek’s share price has tripled in nine months, as demand for body armour and ballistic helmets climbs in troublespots around the world.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
‘Brace for impact’: Higher rates are yet to hit stocks
Morgan Stanley has warned that Australian shares face a challenging six months as the lagged effects of the RBA’s monetary tightening hits company earnings.
Warwick McKibbin says Reserve Bank should abandon inflation targeting
Professor Warwick McKibbin argued inflation targeting is unsuitable for a new world of supply shocks induced by climate change, at a UBS conference on Tuesday.
ASX closes flat; lithium stocks tumble; Life360 rebounds
Mike Cannon-Brookes’ Grok wins four seats on AGL’s board. RBA to save forward guidance only for emergencies. Chinese stocks extended a sharp November rebound. Japan’s economy unexpectedly shrinks. Follow for updates.
Fed officials say more work to do means higher rates ahead
US Federal Reserve officials reminded investors that more work needed to be done to tame inflation, dashing hopes for a slower pace of policy tightening.
Energy prices are soaring, so why are taxpayers helping out new solar?
The surge in energy prices is little help to new renewable projects, prompting the Clean Energy Finance Corp to step back in with support for solar and wind.
Opinion
Xi-Albo dialogue a thaw, not a normalising of relations
The episode demonstrates that it is always wrong and counterproductive to weaponise mutual trade for political reasons.
Editorial
There are bigger shocks to come for AGL
Mike Cannon-Brookes got his wish for a revamped board but that’s only the start of the decarbonisation challenge ahead for shareholders and for the entire energy market.
Columnist
RBA confesses to mistake on 2024 interest rate rise tip
Philip Lowe has conceded the obvious lesson that using a crystal ball to prognosticate on interest rates beyond the immediate future was a bad idea.
Economics editor
Defining the purpose of superannuation is not that simple
The industry’s best argument for continuing generosity in the tax settings on super is one that it doesn’t make: that Australia needs savings.
Economist
Spine is the secret to DeSantis’ success
The Florida governor has shown conservatives that being a principled advocate for common sense in the face of woke culture is a recipe for electoral success rather than political suicide.
Columnist and former senator
Nuclear power a non-issue for the rest of the world at COP27
One of the most striking things for an Australian at Sharm El Sheikh is how uncontroversial atomic power is as part of clean-energy baseload mix.
Federal MP
Politics
Industries hope end is near for China’s trade sanctions
Winemakers, grain growers and lobster fishers want to get back into the lucrative Chinese market after two years of bans and tariffs cost them billions.
COVID-19 wave to ‘peak soon and drop quickly’
The nation’s top doctor says the latest wave is near its peak and cases should drop sharply soon after, despite a near-50 per cent increase in infections.
Victorian teal how-to-vote cards rejected
Teal candidates are set to take legal action against the Victorian Electoral Commission after their how-to-vote cards were rejected.
- Exclusive
- Victorian election
Former Vic auditor attacks Andrews’ privatisation claims
The man who audited Victoria’s debt-laden finances during the 1990s says Victorian Premier Daniel Andrews’ claim privatisation of the SEC failed is “complete bullshit”.
AFR readers back government controls on gas prices
Almost two in three readers of The Australian Financial Review believe the government should intervene and push down gas and coal prices temporarily.
SPONSORED
World
Inside the $60m Bahamas penthouse where FTX was run
Sam Bankman-Fried and his team lived and worked in the waterfront apartment that is now for sale. Helpfully, it included a garage for the failed crypto king’s Corolla.
- Opinion
- US midterm elections
Democrats will have to balance rhetoric and reality post-midterms
Appealing to both domestic labour and foreign allies will be tougher for US politicians now that Republicans control the House.
Legal fight over Musk’s ‘largest ever’ $84b Tesla pay deal
Unhappy investors say the package for the world’s wealthiest man is the largest “in human history”.
- Exclusive
- Renewables
Forrest’s hydro plan beaten by China and Japanese interests
A massive generation project in Indonesia is set to break ground next month, but Fortescue is not involved despite signing an MOU.
Trump dealt another blow as key ally loses midterm race
The closely fought governor’s race in Arizona – a battleground state – was one of the most significant in the midterm elections.
Property
How Lighthouse, St George make affordable housing stack up
Lighthouse Infrastructure has doubled its commitment in affordable housing, taking it to $120 million, in a deal with St George Community Housing.
Who’s buying the Melbourne revival story on a 1pc yield
The sale of seven properties on a street corner is an example of private players convinced there is a bright future for one of the country’s most battered CBDs.
Commercial work picks up as home building retreats
The latest six-monthly forecasts from Australia’s peak construction forecaster show a ‘surprising resilience’ from two sectors emerging from the pandemic.
Singapore’s Frasers Property steers through choppy times
Riding high in Frasers’ commercial pipeline is the $3 billion Central Place Sydney project it is developing with Dexus.
Seachanger quits ‘boring’ Noosa, goes back to Melbourne
Southern staters have long migrated north to Queensland and the pandemic increased that. But not all stay – and leaving can be profitable.
Wealth
From Play School with love: $20m bequest backs young scientists
Jennie Mackenzie loved children and life. Before her death last October, she bequeathed $20 million to the University of Sydney.
Bezos to give away most of his $184b fortune
The Amazon founder’s announcement came just hours before reports the company plans to cut about 10,000 jobs.
- Opinion
- Inheritance
How to get your tax bill lower when inheriting super
You may have a very close relationship with someone who wants to leave you their retirement savings, but the ATO has the final say.
Technology
- Exclusive
- Start-ups
These KPMG alumni bet you’ll work from a tiny cube
Soundproof booths, designed for workers caught between home and the office, are being rolled out in airports, train stations and shopping centres.
Whispir cuts 30pc of staff, shares surge 40pc
The sold-off tech stock is looking to save millions of dollars from job cuts, accelerating its path to cashflow breakeven by 2023.
KKR’s Alludo scores Nitro board backing for $500m offer
The Nitro has thrown its weight behind KKR-owned Canadian software company Alludo’s $2 per share offer, despite some investors still believing it undervalues the company.
Work & Careers
The three sectors planning the biggest pay rises in 2023
Technology, mining and life sciences companies are planning to hand down the highest median pay rises in 2023, a new survey has revealed.
Expert lends support to crossbench push to split IR bill
A prominent industrial relations expert says the government should withdraw its most contentious multi-employer bargaining law and rework it.
Life & Luxury
Exactly what to wear to your office Christmas party
The annual work bash can be a minefield where manners are concerned. Luckily, your outfit is easily arranged.
Hunting for black truffles in an underground universe
There’s nothing more luxurious than staying at a trufflerie with your own chef, while connecting with the people who grew your food and made your wine.
This CEO rides to work in Sydney – but his eye is on the Himalayas
We Are Unity boss Ben Bars is looking forward to cruising on some of the highest roads in the world.
Opera Australia takes a stab at a new ending for Carmen
Opera on the Harbour will move to Cockatoo Island in 2023. As for the heroine’s fate, the director has no intention of “reinforcing bad thinking”.
‘So expensive’: Business trims the long lunch as costs soar
Melbourne investment banker and self-confessed expert long luncher David Williams has a novel way of gauging inflation and the cost of living.
