The search is on for Australia’s next international business success stories.
- Opinion
- Chanticleer
Lithium sector is struggling to solve its big problem
Bullish new forecasts for lithium demand have coincided with setbacks to new supply projects. That’s good for prices, but not for the electric vehicle sector’s ambitions.
Lithium giant lifts forecasts by nearly 15pc on EV surge
Why it’s a bumpy road ahead for electric cars (in seven charts)
Aussie start-up bids for failed UK battery maker - and its $6.7b plan
This EV charger is taking on the world from Tennessee (and Brisbane)
Toyota spent 30 years at the top, but the game has changed
- Exclusive
- Venture capital
Tech giant cuts off Aussie VC arm amid redundancies
Salesforce has swung the axe on the local operation of its venture capital efforts, which has backed a raft of “unicorns” including GO1, Culture Amp and Airwallex.
- Exclusive
- AI
‘We’re not ready for it’: chief scientist warns on ChatGPT
Cathy Foley expects her office will be asked to respond quickly to the potential policy issues raised by the new wave of sophisticated generative AI chatbots.
- Live
- Markets Live
ASX dips; IAG, Suncorp hit by NZ floods
ASX subdued start; Lynas sales revenue increases; IAG, Suncorp assess NZ floods; OZ Minerals with record output; Metcash food CEO resigns, Bitcoin soars.
- Live
- Need to Know
Indigenous Voice will make Australia proud: PM
Anthony Albanese says referendum about whether Australia has the confidence “to acknowledge the fullness of our history”. Follow updates here.
RBA tipped to cut rates this year, in world-leading move
Living cost pressures will be so tough on consumers that the Reserve Bank could be the first central bank to cut interest rates, predicts Morningstar.
- Exclusive
- Regulation
ASIC chairman gave ‘abject’ apology for emotional outburst
Corporate watchdog boss Joe Longo was forced to apologise after berating a senior manager, triggering a Treasury review and escalation to Jim Chalmers.
Breaking news on companies, politics and economics, in your inbox as it happens.
THE NEW CAPITALISM
Chalmers plans ‘more taxes, red tape and spending’, Taylor says
The shadow treasurer says Jim Chalmers’ manifesto to remake capitalism is a throwback to the “chaos” of the Whitlam era, as others gave more positive reactions.
The left-wing economist influencing Jim Chalmers
Treasurer Jim Chalmers’ push to remake capitalism channels the ideas of progressive economist Mariana Mazzucato, who advocates government playing a leading role in investing in innovation in partnership with business.
My vision for a new values-based capitalism
Treasurer Jim Chalmers took time out over summer to pen a 6000-word essay for The Monthly on his vision for a new values-based capitalism. Here is an extract.
- Opinion
- Australian economy
Jim Chalmers joins the global backlash against free markets
Support for free market orthodoxy is waning, but companies will be hoping politicians take the Biden approach of subsidies, rather than the Albanese approach of dictating prices.
Chalmers’ new economic blueprint
Treasurer Jim Chalmers has unveiled his vision to revamp the market-based economic system, attacking “neoliberalism” and urging business to co-invest with government to deliver “values-based capitalism”.
Companies
- Exclusive
- Investment banking
Inside Citi’s most diverse class of investment banking interns
The intern intake is one of the “key battlefields” in the talent war, says Katrina Efthim, a managing director who runs the investment bank’s junior program.
Licorice maker struggles to find staff even with borders open
Even with backpackers able to return, Junee Licorice and Chocolate Factory is struggling to find enough staff to operate at full capacity.
- Opinion
- Chanticleer
Quibbling over Origin price could trigger a breakup
The company’s profit upgrade should largely help put to bed concerns about the “knockout” bid from Brookfield and EIG failing to hold. But not completely.
- Analysis
- Strategy consulting
To reach the top in consulting, talk climate, sell mining
Boston Consulting Group’s new managing partner, Grant McCabe, specialises in advising big mining companies while promoting climate change action.
- Analysis
- Hydrogen
Provaris reckons it can crack the hydrogen export challenge
Some experts question whether green hydrogen can be a big Aussie export industry. Provaris is hoping it can be done, but there are limits.
Big banks split on BNPL regulation plan
Submissions to Treasury on proposed regulation for buy now, pay later providers show diverging ideas about the best way forward.
Why the travel recovery is good news for telcos
Analysts say the sector will soon start to reap the benefits of growing travel and migration post-COVID-19.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Exclusive
- Regulation
ASIC chairman gave ‘abject’ apology for emotional outburst
Corporate watchdog boss Joe Longo was forced to apologise after berating a senior manager, triggering a Treasury review and escalation to Jim Chalmers.
ASX on a bumpy ride as central banks meet to slow rate rises
The world’s most-watched central banks are expected to slow down their pace of interest rate increases as the outlook for global growth slightly brightens.
How markets were looking before the open
Shares are set to open higher after further gains in New York. Meta, Alphabet and Apple report this week. The Federal Reserve rate decision comes early on Thursday morning.
RBA tipped to cut rates this year, in world-leading move
Living cost pressures will be so tough on consumers that the Reserve Bank could be the first central bank to cut interest rates, predicts Morningstar.
- Opinion
- Chanticleer
Why this sharemarket rally is painful for some
The stunning start to the year on equity markets isn’t great news for short sellers, investors who’ve missed the rally and central bankers led by Jerome Powell.
Opinion
Governments, central banks not equipped for the next recession
While the next downturn may take longer to hit, it is likely to take an unfamiliar shape, possibly not much deeper but more enduring, as stickier inflation forces central banks and government rescue teams to the sidelines.
Writer and investor
Chalmers’ new manifesto ignores all the lessons of Hawke and Keating
In the 1980s and early ’90s, a reforming Labor government revived Australian prosperity. The enduring principles are lost in the new Labor treasurer’s model of ‘values-based capitalism’.
Editorial
Jim Chalmers joins the global backlash against free markets
Support for free market orthodoxy is waning, but companies will be hoping politicians take the Biden approach of subsidies, rather than the Albanese approach of dictating prices.
Columnist
To reach the top in consulting, talk climate, sell mining
Boston Consulting Group’s new managing partner, Grant McCabe, specialises in advising big mining companies while promoting climate change action.
Senior correspondent
Our schools abound in underachievement. Here’s a potent fix
A typical high school year 9 now spans seven grade levels of learning. The cost for those who may never catch up is too great.
School expert
This is a terrible way to change Australia’s Constitution
A blank cheque to be filled in later by a Labor government and supposedly independent experts? This should be laughed out of the court of public opinion.
Professor of law
Politics
- Exclusive
- Regulation
Longo’s ASIC reset aims for faster enforcement
Corporate watchdog chairman Joe Longo is poised to reveal the largest shake-up of the ASIC in 15 years next month, in a move designed to streamline enforcement, cut bureaucracy and deliver faster decision-making.
PwC tax leak ‘once-in-a-lifetime’ chance for crackdown: former ATO exec
The man who led the Tax Office’s moves on multinational profit shifting says revelations about the leak will allow the ATO to “get rid of the drivers of tax planning”, as PwC tax clients find themselves targeted.
- Exclusive
- Performing arts
Streaming quotas tipped to force TV behind paywalls
Commercial TV networks are wary about a push to make streaming giants like Netflix compete for local productions.
Chalmers taps banks and super to fix social disadvantage
The Treasurer is working on plans to attract banks and superannuation funds to set up a social impact investing fund to tackle “entrenched disadvantage” in the May federal budget.
- Exclusive
- AUKUS
No blank cheque for defence: Marles
Two key upcoming defence reports, including the acquisition of nuclear submarines, will come with a hefty price tag but Richard Marles says the budget isn’t limitless.
SPONSORED
World
Adani Group says short seller’s report was ‘calculated attack on India’
The short seller’s challenge to the group has caused a frisson across India’s business community: the company has wide-ranging interests including oil and gas, ports, airports and mining.
Biden, McCarthy to meet on debt ceiling
Mr Biden will make the case that the House Speaker has a constitutional obligation to prevent a national default.
Sunak sacks Tory party chairman over tax affairs
The prime minister had initially stood by Nadhim Zahawi before ordering an independent adviser to investigate questions over his tax affairs.
Top US air force general predicts China conflict in 2025
A leaked memo from General Mike Minihan comes as tension remains high over Taiwan.
Pounded Adani pushes on with share offer, stares down critics
The repercussions from an explosive report by US short-seller Hindenburg Research into the Adani group have spilt over into Indian domestic politics.
Property
‘Realistic’ vendors rewarded as auction sales jump
The preliminary clearance rate bumped up to 68 per cent across the capital cities over the past week as auction numbers nearly tripled.
- Exclusive
- Rural property
Canadians strike record deal for Bundaberg macadamia orchards
PSP Investments has paid more than $100m to secure more than 1000ha of macadamia orchards and vacant land from industry pioneers, the Steinhardt family.
Paddy Handbury sells SA aggregation to local families for $33m
Rupert Murdoch’s nephew Paddy Handbury has sold his family’s long held Saltbush cropping and lambing aggregation in SA to five local farming businesses.
Surging rent means these CBDs are smashing Sydney and Melbourne
Office rents are surging in Perth and Brisbane, rising 6 per cent in the 2032 Olympic city in the December quarter, thanks partly to a robust resources sector.
Logos’ chickens home to roost at $250m Perth estate
Logos is riding the momentum at its 20-hectare industrial estate near Perth airport, pushing the button on a 19,000 sq m speculative build after separately signing up Inghams as a tenant.
Wealth
Fixed rate borrowers face ‘extra hit of almost $3000 a month’
Alarm bells are ringing for households on the edge of the mortgage rate cliff.
- Opinion
- Flat Chat
Why strata waterproof repairs may be costing you more
When the building commissioner came gunning for cowboys, some good guys were caught in the “not OK” corral.
Musk says he was sure Saudis wanted to take Tesla private
The billionaire testified that while he did not discuss a takeover price, the Saudi representatives made clear they would back a proposed buyout.
Technology
- Opinion
- Innovation
The six reasons Australia must change to save its future economy
The country is plummeting in the global rankings of innovative nations and risks becoming a low-paid, services economy unless it reconsiders investment in deep tech.
- Exclusive
- Funding
Patience pays off for wholesale food marketplace
FoodByUs has closed a $12 million Series B funding round after a year of pitching to investors.
Intel shares slammed after one of its grimmest forecasts ever
Semiconductor and computer processor stocks ended last week down sharply, with KLA Corp and Intel pointing to a poor outlook for computer sales.
Work & Careers
Chinese students told to return overseas immediately
Authorities in Beijing have given Chinese students just a couple of weeks to pack up, get a visa and return to their overseas university or their degree won’t be recognised.
- Exclusive
- Industrial relations
Wharfies union refused to pay $2.2m damages order for strikes
Stevedore Qube has accused the maritime union of using a $15 million underpayment claim as “industrial leverage” to counter court-ordered damages for unlawful strikes.
Life & Luxury
‘King of Melbourne Park’ Djokovic lands 10th Open title
In a rematch of the 2021 French Open decider, Novak Djokovic swept to victory at Rod Laver Arena and reclaimed the world number one ranking.
Life-changing win for wildcard doubles heroes
Aussie duo Rinky Hijikata and Jason Kubler played their wildcard to perfection and won’t be “living off the smell of an oily rag” this season.
One of these movies is a triumph - the other a train wreck
Tar is a study of the corruptions of fame and power, the world of classical music and the rise of cancel culture. Babylon is an embarrassment on a grand scale.
How I came to terms with being a Singaporean Aussie
This young author wrote a book to help teenagers navigate the problems of being pulled apart by two cultures.
24-year-old Sabalenka wins Australian Open
Aryna Sabalenka won her first Grand Slam title by coming back to beat Elena Rybakina 4-6, 6-3, 6-4 in the Australian Open women’s final Saturday.
