- Opinion
- Chanticleer
KPMG and Microsoft’s AI deal is an $18b taste of what’s to come
The new partnership to roll out artificial intelligence tools for audit, tax and advisory projects raises questions about the future of work and regulation.
- Live
- Need to Know
‘Fewer people getting into trouble’: ANZ boss on mortgage holders
WATCH LIVE: Major bank CEOs front a parliamentary hearing; ANZ chief executive Shayne Elliott says the bank is yet to see widespread signs of distress among borrowers. Follow updates here.
‘No longer required’: Greg Norman sacked in LIV golf deal
Saudi Arabia has also agreed to invest more than $1.5 billion if the new golf tie-up goes ahead, US Congress has been told in testimony to a subcommittee.
Zelensky goes rock star, as Albo bats away the sledging
The Ukrainian president stage-managed a rare public appearance in Vilnius to maximise pressure on the less Insta-adept NATO leaders.
- Live
- Markets Live
ASX rises; KMD shares plunge over 9pc; Incitec Pivot rallies
Shares open higher; energy stocks paced gains in New York; RBA’s Philip Lowe to speak in the afternoon; RBNZ cash rate decision; US CPI on agenda. Follow updates here.
‘Targeted’ Russian ex-submarine commander shot dead on morning run
The military officer, who was reportedly tracked on his Strava app, appeared on a Ukrainian blacklist of alleged war criminals.
Elon Musk’s Tesla to sell electricity to British households
It is thought that the service would sell power to UK households and buy back stored energy at times of peak demand, challenging the existing big providers.
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Companies
EY, Deloitte, KPMG force out dozens for bullying, harassment
Big four consulting firms Deloitte, EY and KPMG have collectively forced out three dozen personnel over the past two years for misconduct, including at least 14 partners.
Rio hunts in the outback for lithium
Rio Tinto chief executive Jakob Stausholm has made no secret of the miner’s desire to increase exposure to the battery material.
AUSTRAC reluctance to haul people into witness stand a ‘moral hazard’
The nation’s financial crimes agency is in danger of being a “soft touch”, Justice Lee of the Federal Court has warned.
Gas code has only delayed new supply: producers
Some gas projects have been delayed by over 12 months, while much of gas marketing to customers has yet to resume.
Pilots say Qantas should pay to bypass them
The airline and its staff are locked in a Federal Court battle over training and outside hires for long-haul flights.
Athena lines up stealth capital raising, delaying valuation questions
The home lender has been buffeted by intense competition from major lenders, and is now in the midst of securing $20 million in additional funding.
KPMG releases its custom ChatGPT tool to clients
Clients will be able to piggyback off KPMG’s work to experiment with the firm’s AI-powered chatbot in their own IT environments.
Companies in the News
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Markets
Saudi wealth fund reports $16.5b investment loss for 2022
The PIF is in the midst of a global investment spree after it was transformed from a domestically-focused holding company into a sovereign fund in 2016.
Here’s what happened in markets overnight
Australian shares are set to open up. Energy stocks paced all 11 S&P 500 industry sectors higher on bets global supply will ease. US CPI awaited.
Investors yank money from equities on recession fears
A net $2.8 billion was pulled from managed funds in the second quarter amid concerns about a global recession, the most in at least four years.
Bond payouts match stocks for first time in over a decade
There has been a historic convergence of Australian short-term bond yields and sharemarket dividend payouts, which hint at an ongoing shift by investors into fixed income.
Megaport rockets 34pc on higher earnings, lower cash burn
It has been a significant turn around for the company this year. It has been among a number of local firms benefiting from interest in artificial intelligence.
Opinion
At last, urgent change for education seems possible
Will there finally be progress improving teacher training to ensure quality becomes the standard in Australia not reliant on the dedication of individual teachers?
Columnist
NATO expansion reverberates from Kyiv to Canberra
An end to centuries of Swedish neutrality, and a NATO that keeps counsel with Australia, shows the authoritarians have changed things in more than just Ukraine.
Editorial
Store solar that sells for cents on power poles near you
The missing clean energy link is distributed, low voltage storage located by the roadside or on a utility pole right next to rooftop solar generation.
Yellen’s going to China is no sign of thaw in US-China relations
The fact Yellen saw two top officials who have the ear of Xi Jinping could mean the building blocks of a new relationship will gradually interlock.
International Editor
Why the US still dominates NATO
Finance and politics mean that US caution over Ukrainian membership of the alliance will prevail.
Columnist
PM should focus on helping Ukraine, not self-obsessed defence deals
It’s right that both Australia and Germany rearm to counter the Beijing-Moscow partnership. But how can we not focus the same energy on helping Ukraine?
Contributor
Reports
Growth Nation - State of retail
A pulse check on the health of retail as consumers grapple with rising interest rates and cost of living pressure and how business is adapting.
Sponsored
by AccenturePolitics
Cabinet meeting ‘soon’ on Lowe as Chalmers consults opposition
Treasurer Jim Chalmers says he has consulted shadow treasurer Angus Taylor about the looming announcement on RBA governor Philip Lowe’s future.
Labor hints at further cost-of-living respite
Jim Chalmers says the $20b surplus, built on the back of a tax windfall, has not been at the expense of the needy.
Ben Roberts-Smith appeals major defamation loss
The Victoria Cross winner has lodged a notice of appeal after Justice Anthony Besanko found Roberts-Smith broke the rules of war and disgraced his country.
Albanese presses Macron to allow EU trade deal
Anthony Albanese will prevail upon Emmanuel Macron overnight on Tuesday to stop blocking a conclusion of a free trade agreement with the EU.
These could be Philip Lowe’s last words as RBA boss
Reserve Bank governor Philip Lowe will outline the board’s response to the sweeping set of reforms contained in the RBA review on Wednesday.
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World
NATO rebukes China for cosying up to Russia
The leaders’ summit communique warns that Beijing is “harming alliance security”, putting the Indo-Pacific more firmly on the trans-Atlantic radar.
Zelensky fumes after NATO waffles on Ukraine’s membership bid
The 31-member military alliance did not offer a clear pathway into the tent for Ukraine, but tried to soften the blow with fresh pledges of heavy weaponry.
What happens in Indo-Pacific matters to Europe, says NATO boss
The PM will upgrade Australia’s ties with NATO at the leaders’ summit as the security alliance grapples with the twin challenges posed by China and Russia.
Microsoft cleared to buy Activision in US as UK pauses fight
“We’re grateful to the court in San Francisco for this quick and thorough decision,” Microsoft president Brad Smith said.
‘Reliable brothers’: China, Solomon Islands boost ties
Solomon Islands Prime Minister Manasseh Sogavare has signed nine deals with China during his visit to Beijing this week.
Property
The European fund with a $200m bet on Australian housing
Non-bank lender MaxCap has taken $200 million mandate from a European pension fund for a new trust that is three-quarters focused on residential development.
NSW premier, rental tsar rule out rent caps
The largest state wants to make renting fairer for tenants but also says the long-term goal has to be to increase supply of housing.
Property listings lift as agents see ‘out of season’ interest
Sydney house price rebound could slow in coming months amid signs new listings are ramping up, as buyer sentiment weakens.
Sydney developer Jean Nassif’s Toplace in administration
Many apartment projects could be affected by the collapse of the building arm of Toplace, the development company founded by Jean Nassif.
Urban Property taps state planners for $600m Parramatta build-to-rent
The family-owned development platform is looking to NSW’s state significant development process to fast track a mixed use project.
Wealth
What investors are getting wrong about gold
Years of global uncertainty have supported the precious metal, but rich lister connotations means regular punters may be missing out on returns.
Telethon backed by Stokes halves grants to kids institute
The Kerry-backed charity has become a fundraising powerhouse, fuelled by donations from corporates and government, but not everything goes to its namesake institute.
- Opinion
- Flat Chat
Tenants’ champion targets bad landlords
NSW Rental Commissioner Trina Jones has no-fault evictions and pet bans in her sights.
Technology
- Opinion
- Review
Why Motorola’s new Razr is its best foldable flip phone yet
At last, here’s a model with a bright, 3.6-inch external display that supports widgets and – ta da! – also runs most Android apps.
There’s no substitute for Chinese drones (and that’s a problem)
US unmanned aircraft pilots in fields ranging from search and rescue to scientific research are painfully aware they lack alternatives to China’s products.
Meta says China experimenting with Facebook influence tactics
Meta says China-based operations are trying to co-opt journalists, NGOs and work through PR groups on Facebook.
Work & Careers
Fears Qld’s extra pay for union reps could go national
Builders are concerned that Queensland’s requirements that union delegates be paid more on state projects could be adopted at a federal level.
Public sector agrees to uncapped WFH days
The Commonwealth public service has agreed generous work from home rights, with no caps on WFH days and a bias towards approving requests.
Life & Luxury
The hottest trend in dining? Eating with people you don’t know
Sign up now if you’re single, bored with fancy restaurants perhaps, or you’d prefer to share your life story while sharing supper with strangers.
It was a failure at birth. Now it’s New York’s hottest new hotel
A Beaux-Arts building once known as “a shrine to capitalism” has been born again in a part of the city that’s undergone its own renewal.
Why you can never remember people’s names
You’re not alone when it comes to forgetting people moments after you’ve met them – “face blindness” is a real thing.
Electro-pop pioneers Kraftwerk announce new Australia tour
The group co-founded by Ralf Hütter in 1970 promises audiences cutting-edge visuals alongside genre-creating music.
In a Paris filled with unease, the couture shows carried on
Despite the recent unrest, Fashion Week dazzled as usual. “It’s important not to let things stop you from living,” said a Jean Paul Gaultier client.
