Labor, Liberals target marginal seats in ‘desperately close’ poll
Victorian voters in marginal seats peppered with text messages; Daniel Andrews rules out a crossbench deal if Labor forms minority government; Labor Party president Wayne Swan warns result will be “desperately close”. Follow updates here.
Key Posts
Liberals’ Jess Wilson competes against teal independent Sophie Torney for Kew
The battle for Box Hill and Ringwood
Text messages target Matthew Guy as the Liberals’ Cuts Guy
Federal MP Monique Ryan backs teal candidate in Kew
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Government considers changes to BOOT test
The Albanese government is considering further changes to its industrial relations bill to fix a loophole that could allow employers to cut new hires’ pay below the minimum.
Economy in the grip of a global commodity ‘super squeeze’
HSBC Australian chief economist Paul Bloxham echoed Reserve Bank of Australia governor Philip Lowe’s warning this week of higher and more volatile energy prices ahead.
- Analysis
- Victorian election
Daniel Andrews’ crown slips just as election day looms
The parallels with Jeff Kennett’s 1999 VIctorian state election are eerie, and the Premier will have to fight hard for another “Danslide” this time round.
Apple hit by China woes, Nasdaq ends lower
China’s COVID case surge dented Apple, which paced Wall Street to a mixed close in a short post-Thanksgiving Day session.
- Opinion
- Chanticleer
Momentum has shifted in Australia’s financial pecking order
Efforts by Treasurer Jim Chalmers to encourage investment in social housing also shone a light on the split between the big banks and big super funds.
Eight things we learned about FTX this week
This week, the FTX story began splintering off further into its various weird tangents.
This week the Chanticleer podcast looks at Vicinity’s sexual harassment scandal, what Guy Debelle’s departure says about Andrew Forrest, and what happened to Chook’s crypto investments.
Vicinity’s harassment scandal, Forrest’s exec problem, Qantas gouging
victorian election
Andrews backlash makes Victoria poll ‘desperately close’
Daniel Andrews’ Labor Party and Matthew Guy’s Liberals remain neck and neck in target seats including Pakenham, Sunbury, Melton as Wayne Swan warned of a ‘desperately close’ result.
Labor costings don’t include ‘a single cent’ for $125b rail loop
Both Labor and Liberal have had difficulty explaining their election costings document amid billions being spent by both sides.
- Opinion
- Victorian election
How much paint will Dan Andrews lose?
The takeout from focus group polling is that the Victorian premier is expected to win – which leaves plenty of scope for voters to send a message, writes Graham Young.
Love has the son of a Liberal premier pounding the pavement for Labor
Private equity kingpin Ben Gray, the son of a former Tasmanian Liberal premier, never expected to find himself campaigning on behalf of a Labor candidate.
- Opinion
- Victorian election
Labor has delivered for all Victorians: treasurer
Jobs are surging in the state because the Andrews government developed and stuck to a recovery plan through the pandemic.
weekend reads
Why this ANZ veteran says Australia is seen as ‘suboptimal’ in Asia
A former executive at the bank, Vishnu Shahaney, says Americans can teach Australians a thing or two about how to do the business two-step in the region.
Threat or opportunity: Taiwan’s China dilemma
The residents of a sleepy group of Taiwanese islands are conflicted about how closely they want to connect with their mammoth neighbour in a fraught political world.
Fifty worst cases in 10 days: how the Family Court fixed itself
The court was dealing with entrenched conflicts lasting up to six years. Then judges were flown in with a mission to sort them out.
How Lloyd Austin marched to the top
The US secretary of defence’s career in the military has taken him to some tough places, but the people who know him say he never lost his sense of humour.
Tony Whitlam: Gough was ‘pissed off’ by Dismissal slur
Gough Whitlam’s son opens up for the first time about his father’s reaction to being dismissed, and Labor’s 1972 election victory.
Companies
Santos secures more approvals on Narrabri gas
The clearances came through before a crucial meeting between NSW Premier Dominic Perrottet and Santos CEO Kevin Gallagher that has added impetus to the project.
Nearmap’s $1b deal comes down to the wire
Thoma Bravo’s bid for the aerial imaging technology company has narrowly been approved by shareholders, with more than 78 per cent of votes in favour.
Eight things we learned about FTX this week
This week, the FTX story began splintering off further into its various weird tangents.
Crispin Murray: Pendal’s reluctant rockstar
For Perpetual’s dealmaking chief executive Rob Adams to have any chance of winning over Pendal, one man had to be courted more than anyone else.
‘Unacceptable risk’: Court rejects Palmer coal mine over emissions
The Queensland Land Court has recommended the state government reject Clive Palmer’s proposal for a mega-coal mine in Central Queensland.
Rinehart warns of ‘heat or eat’ choices as energy costs surge
Australia’s richest person has warned the nation’s pensioners and others on low incomes will be forced to make difficult decisions as electricity costs rise.
ANZ to boost oil and gas funding
ANZ doubles down on oil and gas, increasing target from $50 billion to make sure big emitters have capital to transition.
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Markets
ASX gains, CBA posts 52-week high
Bank stocks have become a refuge for investors seeking defensive earnings and strong yields in the rising interest rate environment.
Australian, New Zealand dollars on track for big recoveries
The US Fed’s signal of slower rate rises has eased the pressure on its peers, boosting the Australian dollar after the biggest rout in four years.
EML powers on chairman outing, takeover hopes; CBA hits 52-week high
Australian shares close up 0.2 per cent, lithium stocks fall, City Chic dives. Perpetual hit by ASIC stop orders. Blackmores chair exits. Credit Suisse to raise $6.3b. ANZ says RBA won’t cut until late 2024. Follow for updates.
How FTX’s collapse hurt the do-gooders that backed the firm
Effective altruism was a key selling point for the failed crypto exchange. Now it must reassess its future without donations from Sam Bankman-Fried.
Buy, hold, sell: Five stocks to arm portfolios against future falls
Firetrail Investment’s Blake Henricks and Blackmore Capital’s Marcus Bogdan analyse three defensive darlings and name their top defensive pick to arm investors’ portfolios against any future falls to come.
Opinion
Labor’s fraying ties with business an ominous sign
The relationship between Labor and business has hit a string of potholes. It’s a sign of a government not yet focused on what really counts.
Editorial
Calm and steady wins the race for Labor – so far
Sitting weeks were something the Morrison government endured. In stark contrast, the Albanese government has jam-packed each session with an agenda of bills, writes Phillip Coorey.
Political editor
Morrison’s multiple ministries fated to remain a mystery
It’s now even harder to fathom why Scott Morrison thought this was a good idea. But the tactical gift to Labor is clear enough.
Columnist
Interest rate shock just around the corner
Many borrowers who took out ultra-cheap home loans will soon face mortgage rates that are 40 per cent more than the maximum their lender thought they could service.
Columnist
Another twist in Australia’s erratic march to renewable energy
Is a taxpayer subsidy to keep AGL’s Torrens Island B gas power station running really the transition Mike Cannon-Brookes had in mind?
Columnist
Climate policy is now a much fairer COP
The crucial step at COP27 of making advanced countries pay for climate damage to emerging economies gives them an important incentive to curb their emissions.
Climate expert
Politics
Returns on social housing too small because of red tape: NAB CEO
Treasurer Jim Chalmers hosted about 20 of the nation’s most powerful finance executives for a closed-door meeting to rally support for the Housing Accord.
Kenneth Hayne on why there is ‘virtue’ in Voice proposal’s simplicity
The simplicity of the wording of proposed Voice to Parliament constitutional amendment is its “very great virtue”, says former High Court judge Kenneth Hayne.
Bell report reveals Morrison’s ‘cult of secrecy’ and sixth portfolio bid
Anthony Albanese hasn’t ruled out a parliamentary censure of Scott Morrison over his predecessor’s multiple ministries.
‘Unacceptable risk’: Court rejects Palmer coal mine over emissions
The Queensland Land Court has recommended the state government reject Clive Palmer’s proposal for a mega-coal mine in Central Queensland.
Albanese dispels talk of souring relations with business
Labor has business bristling on several policy fronts but Anthony Albanese says he still enjoys “terrific” relations with the corporate sector.
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World
US bans Huawei, ZTE Telecom equipment on data-security risk
The decision extends a years-long effort to limit the reach of Chinese telecommunications companies into US networks.
- Analysis
- World elections
New PM Anwar takes on Malaysia’s racial demons
After decades in the wilderness, Anwar Ibrahim has been appointed prime minister, leading a centralist government. But pro-Malay forces are already circling, ready to attack.
Spain approves windfall tax on banks and energy groups
Parliament gave the go-ahead for the impost despite the opposition of international institutions.
How Lloyd Austin marched to the top
The US secretary of defence’s career in the military has taken him to some tough places, but the people who know him say he never lost his sense of humour.
Taiwan’s opposition pins election hopes on rising star
Taiwan’s KMT party has recruited the son of former nationalist general Chiang Kai-shek to reinvent itself for local elections.
Property
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- Luxury property
What it’s like to live on a stunning $50m Sydney beachside block
Lang Syne owner Dimity Griffiths reveals the story of life in one of Australia’s best locations – and why she’s selling after 63 years.
Home builder Simonds asks shareholders for $25.5m
The troubled builder’s second-largest shareholder, Newcastle-based NXT Building Group, has already said it won’t stump up more cash.
‘Smashing it’: Hotel owners set for summer boom as bookings surge
Mohan Du, who owns three Melbourne hotels including two Marriotts, said his hotels were fully booked over the peak holiday period.
How Australia became a blueprint for a $78b Canadian fund
Ivanhoé Cambridge’s investments in Australia have been placed in expectation of a changed world, a strategy now being vindicated, its CEO says.
Roberts Co paid just $1 for Probuild
The building contractor’s NSW revenue sank 44 per cent just as the chance came along for it to buy failed builder Probuild’s projects in Victoria.
Wealth
How one family accidentally ‘fell’ into effective altruism
When Kate Tapping and her family decided to get serious about charitable giving, they wanted their efforts to have the greatest impact.
Why you shouldn’t get carried away with the shares rebound
Equities are likely to test fresh lows in the next few months, prompting some strategists to reduce risk in their portfolios by rotating into defensive stocks.
How to invest in Australia’s ‘four speed’ economy
There are opportunities in looking beyond “averages” and exploring the different dynamics at play across the country.
Technology
The tech boom is over, for some
Rising inflation and surging interest rates have seen markets tank, with many of the biggest losers being the mega-cap tech firms.
Nearmap’s $1b deal comes down to the wire
Thoma Bravo’s bid for the aerial imaging technology company has narrowly been approved by shareholders, with more than 78 per cent of votes in favour.
Reward ethical hackers with ‘bug bounty’, companies urged
Australia’s top cyber spies want companies to reward ethical hackers who find flaws in their web defences under a “bug bounty”.
Work & Careers
What other schools can learn from the Cranbrook saga
The past few months of drama at the elite Sydney private school has thrown the shortcomings of its governance model into sharp relief.
This CEO was too scared to ask Tiger about his lovelife
“There’s nothing like a belly to belly sell.” The new James Hardie boss first sold power tools from the back of a yellow pick-up truck.
Life & Luxury
Carmen on Cockatoo Island review: spectacle amid the seagulls
This Carmen shakes up the traditional format, but retains plenty for the purists and the tourists.
ANZ veteran says Australia is seen as ‘suboptimal’ in Asia
A former executive at the bank, Vishnu Shahaney, says Americans can teach Australians a thing or two about how to do the business two-step in the region.
Here’s what happened in the World Cup overnight
Brazil wowed Serbia; Switzerland scored a touchy goal against Cameroon; South Korea fought Uruguay; and Portugal’s Cristiano Ronaldo made history against Ghana.
How Jaguar’s race cars will turbocharge its luxury EVs future
When electric vehicles become the most common cars on the road, Jaguar believes Formula E will overtake F1 as the world’s most ‘relevant’ motorsport competition.
How Tom Jones helped Rob Brydon’s music career
His fellow Welshman and elder proved helpful because the celebrated comedian, mimic and panel show host will also be singing at upcoming Australian concerts.
