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- Opinion
- World markets
Regulators need to combat speculative attacks on banks
If the institution is fundamentally sound, its depositors and other creditors should not be unnecessarily paralysed by a fabricated crisis of confidence, writes Christopher Joye.
NSW Liberals fear revolt in key marginal seats
Liberal officials say that swings in some seats are within the margin of error, indicating the Coalition could still cling on to government.
Deutsche Bank drops, extending global banking tumult
A decision by Germany’s largest bank to repay some bonds early sparked a wider European rout. The German leader and the ECB boss urged calm.
Swiss authorities nuked Credit Suisse hybrids - are yours safe?
Hybrids are marketed as unique securities combining elements of stocks and bonds. But they are under fresh scrutiny amid a series of global banking crises.
- Opinion
- Indigenous Voice
We must talk about how the Voice will make a difference
There is no body through which Indigenous people can channel ideas at a federal level. The representations should come at the beginning, not the end.
- Exclusive
- National security
TikTok admits collecting location data
TikTok has walked back claims it does not collect GPS data and can, with user permission, collect precise locations in certain regions of the world outside the US.
- Opinion
- Chanticleer
Beware the risks in making super safer
Australia should be wary of going down the same regulatory road as the UK which made its pension system “safe” at the cost of efficiency and market-leading returns.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
WEEKEND READS
Xi Jinping recruits Putin in battle against the West
Xi Jinping’s overt display of flattery in Moscow this week underscores the Chinese leader’s need to keep his old ally close at a time when he wants to take on the West
Why white-collar workers are paying $799 to be punched in the face
Plenty of 30-somethings and 40-somethings dream of stepping into a ring to weave, slip and hopefully land a direct hit.
- Exclusive
- Cybersecurity
Revealed: how hackers used a tech giant to get inside Latitude Financial
In the aftermath of the biggest known cyberattack on Australia’s financial service sector, fingers are pointing at a US outsourcer, which was working for the company.
- Opinion
- Indigenous Voice
We are back to the beginning with the Voice
The wording of the referendum question takes us back to 2014 - and using political influence rather than litigation to achieve better outcomes.
- Opinion
- Big four
Where the banking crisis goes next
The speed with which the banking crisis has rolled out, and government support has rolled in, raises big questions for investors.
SMART INVESTOR
Swiss authorities nuked Credit Suisse hybrids - are yours safe?
Hybrids are marketed as unique securities combining elements of stocks and bonds. But they are under fresh scrutiny amid a series of global banking crises.
- Opinion
- Investment banking
Credit Suisse wipeout shows why blind diversification is dangerous
Aussie bank hybrids are showing resilience in the face of recent events, but investors are learning that the search for yield is a reach for risk.
- Opinion
- Super wars
Think new $3m super cap won’t affect you? Here’s how it could
Unintended consequences could include insurance payouts, non recourse property loans and even death benefits.
Why it is cheaper to rent a house than buy in more Australian suburbs
Shortages and soaring costs are transforming the nation’s property markets.
Rental shortfall forcing property investors to sell
More than one in four landlords are considering selling their investment properties and quitting the rental market.
Companies
- Analysis
- Hedge funds
Why the market is buying Hindenburg’s report (and selling Block)
The sharemarket chose to sell first, ask questions later, as Block shares sunk in response to a damaging report by a short seller.
Self-deleting email and dummy bids: Downer staffers probed by ICAC
Startling allegations of alleged corruption in NSW transport projects have raised fresh questions about Downer’s accounting and governance controls.
Estia shares surge to three-year high on $775 million takeover
The aged care provider told investors that Bain Capital had made an approach to the company earlier in the week.
Myer threatens to leave Adelaide CBD after pulling pin in Brisbane
The department store operator has launched legal action against its Singapore-based landlord, claiming Rundle Mall has not been properly maintained.
Hindenburg lands hefty blow in Block short attack
The short sellers allege that Cash App has facilitated fraud, sex trafficking and drug dealing, overinflates user numbers, and is overcharging retailers for Square.
F45 needs time to sort out financials before filing annual report
The new management of the fallen fitness company says it has to examine how it handled its internal finances throughout last year.
- Exclusive
- Cybersecurity
Revealed: how hackers used a tech giant to get inside Latitude Financial
In the aftermath of the biggest known cyberattack on Australia’s financial service sector, fingers are pointing at a US outsourcer, which was working for the company.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Wall Street reverses early losses to end higher, sentiment fragile
All three US benchmarks closed modestly positive. Utilities and real estate paced nine of the S&P 500’s industry sectors up.
Hedge funds seen targeting Deutsche Bank in ‘irrational’ slide
The German bank’s shares fell as much as 15 per cent before paring losses to end the day down 8.5 per cent in Frankfurt.
Tesla is losing a big force behind this year’s rally
Retail traders whose purchases have helped push the electric-vehicle maker’s stock up over 50 per cent in 2023 are pulling back.
- Opinion
- Wall Street
Price-to-earnings ratios a sobering stock price metric
Headline US market gauges like the S&P 500 Index are roughly flat since reports of bank collapses surfaced two weeks ago.
ASX falls 0.2pc; Estia Health surges 14pc
The S&P/ASX 200 dropped 0.2 per cent to 6955.2 on Friday. The financial sector was the worst performing sector. Block shares plunged after a short-seller report.
Opinion
Constant questions keep our banks and super safe
Australia’s financial system lives up to its goal of being unquestionably strong. But that depends on the questions continually being asked.
Editorial
Credit Suisse wipeout shows why blind diversification is dangerous
Aussie bank hybrids are showing resilience in the face of recent events, but investors are learning that the search for yield is a reach for risk.
Columnist
We must talk about how the Voice will make a difference
There is no body through which Indigenous people can channel ideas at a federal level. The representations should come at the beginning, not the end.
Columnist
‘We can’t count on anything’: Libs end campaign stretched thin
NSW Liberals are frustrated that, despite an exhaustive election platform with a swath of big promises, no single message has cut through.
National reporter
Win or lose, Perrottet has redefined Liberal leadership
Is the NSW Premier the future of the Liberal Party, the right’s version of woke, or another male opportunist?
Senior correspondent
The AUKUS debate needs clear reasoning, not hot air
There is a vacuum in public awareness of our strategic circumstances. In these times of no war and no peace, that needs to be fixed.
Geopolitical analyst
Politics
NSW Liberals fear revolt in key marginal seats
Liberal officials say that swings in some seats are within the margin of error, indicating the Coalition could still cling on to government.
- Opinion
- NSW Election
‘We can’t count on anything’: Libs end campaign stretched thin
NSW Liberals are frustrated that, despite an exhaustive election platform with a swath of big promises, no single message has cut through.
- Analysis
- Political leadership
This is not 1999 and that’s why the Voice has a chance
The factors that led to the defeat of the 1999 republic referendum are not in play this time.
Labor sharpens attacks on Dutton’s Voice ‘excuses’
Indigenous Australians Minister Linda Burney accused the opposition leader of looking for excuses instead of answers.
The older you get, the more you value super: industry survey
The older people get, the more they believe superannuation should be preserved for retriment and not used for such purposes as buying a house, industry research shows.
SPONSORED
World
King Charles postpones trip to France amid unrest
That Charles had chosen France as his first overseas destination as king had highlighted Britain’s desire to mend the relationship with its European neighbour.
Trump predicts ‘death and destruction’ if he’s indicted
In a post after midnight on Friday on his Truth Social platform, Trump asked how a former president could be charged with a crime.
Larry Summers urges US pledge to back deposits if banks fail
“There needs to be clarity on the situation regarding deposits,” the former US Treasury secretary said.
CEOs return to China for Xi’s Davos
After years of closed borders, Australian business leaders will return to China in force this weekend despite diplomatic tensions.
Xi Jinping recruits Putin in battle against the West
Xi Jinping’s overt display of flattery in Moscow this week underscores the Chinese leader’s need to keep his old ally close at a time when he wants to take on the West
Property
- Exclusive
- Renting
Landlords on top: the suburbs where rents have jumped as much as 36pc
Renters in inner Melbourne, Sydney’s Ku-ring-gai and Caboolture north of Brisbane are experiencing extremely large price rises.
Rich Lister property developer dead at 47
Jonathan Hallinan, the developer behind Melbourne’s distinctive Shadow Play skyscraper, has died at 47 after a battle with cancer.
Is the just-opened $335m Capella Sydney’s most beautiful hotel?
It’s been seven years in the making, now the old Education Department sandstone building off Bridge Street, near Circular Quay, has finally opened as a five-star hotel.
Why it is cheaper to rent a house than buy in more Australian suburbs
Shortages and soaring costs are transforming the nation’s property markets.
‘It’s fun’: John Gandel explains why big malls are winners
Billion-dollar turnovers at nine of the country’s top 10 malls is indicative of the sector’s rebound from the lockdown years and its resilience amid cost-of-living pressures, industry players say.
Wealth
Swiss authorities nuked Credit Suisse hybrids - are yours safe?
Hybrids are marketed as unique securities combining elements of stocks and bonds. But they are under fresh scrutiny amid a series of global banking crises.
- Opinion
- Flat Chat
The media is complicit in strata’s conspiracy of silence
Omission and exaggeration are all too common in the human interest stories that dominate coverage of complex strata issues.
- Opinion
- Super wars
Think new $3m super cap won’t affect you? Here’s how it could
Unintended consequences could include insurance payouts, non recourse property loans and even death benefits.
Technology
- Exclusive
- National security
TikTok admits collecting location data
TikTok has walked back claims it does not collect GPS data and can, with user permission, collect precise locations in certain regions of the world outside the US.
F45 needs time to sort out financials before filing annual report
The new management of the fallen fitness company says it has to examine how it handled its internal finances throughout last year.
Aussie YouTube crypto star caught up in FTX class action
Australian-based crypto influencer Tom Nash is caught up in a $US1 billion class action brought by a group of angry FTX investors.
Work & Careers
Union stops BHP labour hire deal ahead of ‘same job, same pay’
The mining union has narrowly defeated BHP’s bid to push through its in-house labour hire agreement for production workers.
The six rules of eating in the workplace
After Florida Governor Ron DeSantis was spotted eating chocolate mousse with his fingers (yes, fingers), perhaps we all need a refresher on office manners.
Life & Luxury
Block CFO Amrita Ahuja on keeping Jack Dorsey in check
A week before the Hindenburg report rattled Block and the markets, Amrita Ahuja talked about the challenges of the business and how she works with her boss.
Is the just-opened $335m Capella Sydney’s most beautiful hotel?
It’s been seven years in the making, now the old Education Department sandstone building off Bridge Street, near Circular Quay, has finally opened as a five-star hotel.
This ex-CBA banker didn’t sing for years. Now he’s a star
From bank worker to baritone, Michael Honeyman has had a career trajectory unlike most other music stars.
Those insulted by Paul Keating should watch this film
Veteran director Jerzy Skolimowski’s donkey tale “EO” offers a convincing demonstration of the power of the cinema to tell a story through mostly visual means.
Why white-collar workers are paying $799 to be punched in the face
Plenty of 30-somethings and 40-somethings dream of stepping into a ring to weave, slip and hopefully land a direct hit.
