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Today

China property concerns grow as another big developer is on the brink

Country Garden’s financial struggles confirm investors’ worst fears about the nation’s vast property market, which has resumed a downturn after a brief rebound.

  • 8 mins ago
  • Bloomberg News
Australia’s Katrina Gorry celebrates a goal during the penalty shootout.

Matildas aim for three out of three in England clash

The Matildas are the lowest ranked team left in the World Cup, but they can add to dominance over England in the Ashes and netball; residents return to devastated Maui; David Littleproud cool on regional Voice. Follow the latest here.

  • 1 hr ago
  • Andrew Hobbs
Philip Lowe’s has appeared at the parliamentary committee hearing for the last time the RBA governor.

10 of the best opinion reads from this week

From why the real pain is still to come for consulting’s big four to the generational divide exposed by CBA’s results. Here are ten thoughtful opinion pieces from the past week.

When markets price in the peak of Interest rates, expect asset prices to react.

Taking in the view from the peak (of rates), bonds are set to rally

Nature abhors inertia so if interest rates aren’t going up, the market will price them to go down and this has profound implications for asset prices.

  • Vimal Gor

Yesterday

England’s Alessia Russo celebrates scoring their second goal with Georgia Stanway and Ella Toone.

England to face Australia after beating Colombia

Alessia Russo fired England into the semi-finals against Australia after a 2-1 win against Colombia on Saturday.

  • Updated
  • George Clarke
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Australia celebrate their side’s victory in the penalty shoot out.

Matildas defeat France in epic penalty shootout

The Matildas are through to the Women’s World Cup semi-finals after defeating France 7-6 on penalties in the longest penalty shootout in the tournament’s history.

  • Updated
  • Anna Harrington
A new study has found that just 3967 steps a day reduced the risk of dying from any cause.

The 10,000 steps debate (and how many you should really do)

A new study suggests that our daily target could be considerably lower than previously thought.

  • Charlotte Lytton
A man walks through wildfire wreckage in Lahaina. Hawaii emergency management records show no indication that warning sirens sounded before people ran for their lives.

Maui wildfire death toll hits 80 as questions raised over warnings

The death toll from the fires has risen to 80 as officials try to determine how the inferno spread so rapidly through the historic resort town with little warning.

  • Marco Garcia and Mike Blake
At one point, Musk said Rome’s ancient Colosseum would host the fight, but Italy ruled that out.

Italy stands ready to host as Musk talks up Zuckerberg rumble

Italy’s Culture Minister Gennaro Sangiuliano says he has spoken to Elon Musk about hosting a “large charitable and historically evocative event”.

  • Reuters
Consulting firms caught promoting tax exploitation schemes will be fined up to $780 million, a 100-fold increase, under the Albanese government’s sweeping response to the PwC tax leaks scandal.

10 long reads for the weekend

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

The agreement applies to flights headed to each nation.

US, China agree to double weekly flights between countries: report

The US Transportation Department will increase the number of Chinese passenger flights allowed to fly to the US to 18 weekly round-trips on September 1.

  • Reuters
Sam Bankman-Fried had been under house arrest.

FTX founder jailed in New York for tampering with witnesses

District Judge Lewis A. Kaplan ordered Sam Bankman-Fried’s bail revoked after prosecutors said he’d tried to harass a key witness in his fraud case.

  • Larry Neumeister
Guinea’s Simandou mountains contain very high quality iron ore.

Rio Tinto strikes rail deal for Simandou iron ore mine in Guinea

Rio Tinto, Guinea and the Winning Consortium Simandou have agreed to develop 600 kilometres of rail lines needed to transport iron ore to a port.

  • Thomas Biesheuvel and Dylan Griffiths

Sunito v Sathio: inside the feud that killed the Crown Group empire

A fight between business partners of more than 25 years puts one of Australia’s largest private developers – one which had global ambitions – into liquidation.

  • Campbell Kwan
A boring machine digs tunnels for the the Sydney Metro West project.

There’s a better solution than simply cancelling big projects

Construction productivity is now lower than when CDs topped the charts. And the races to the bottom on price are not helping either.

  • Jon Davies
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Stocks were mixed in New York.

US stocks mixed as price data bolsters higher for longer case

The S&P 500 edged lower and the Nasdaq slid. July producer prices rose slightly faster than expected. $A slides below US65¢.

  • Timothy Moore
Trump continues to fundraise heavily off the criminal charges, with small online donors giving at a pace that dwarfs that of every other rival.

Trump threatened with cash crunch as legal bills mount

The famously tightfisted Donald Trump might eventually have to reach into his own pocket as his political committees burn through cash at a furious pace.

  • Shane Goldmacher and Maggie Haberman
The fires have destroyed a large part of Lahaina, Hawaii.

Grim search continues on Maui as death toll rises

The official death toll from the fires has reached 80 but rescuers had yet to move inside buildings in their search for other victims.

  • Mike Baker, Jenny Gross and Mike Ives
“The guy is up against the wall because he pissed off everyone at the company,” said Dick Bove, a veteran banking analyst, of Solomon.

Goldman’s CEO is stuck without a clear lifeline

David Solomon is increasingly the target of frustration as he struggles to steer the elite investment bank through a humbling stretch.

  • Rob Copeland
Merrick Garland, Hunter and Joe Biden.

Special counsel appointed in Hunter Biden inquiry

The appointment all but ensures that a years-long investigation into a wide array of conduct in Hunter Biden’s life will continue.

  • Glenn Thrush, Luke Broadwater and Michael S. Schmidt