No quick fix for housing supply crisis
Incentives to speed up application processes will be on the table, but every state will reject rent caps.
‘Leave me alone’: Lang Hancock’s 1989 plea to daughter Gina Rinehart
Pilbara legend Lang Hancock pleaded with his daughter, Gina Rinehart, to stop a barrage of criticism over his business and romantic dealings, asking her to “leave me alone to live the rest of my life in peace”.
- Opinion
- Big four
Why the New Zealand housing market keeps Aussie bankers awake at night
The NZ home loan market is a worrying case study of how savagely bank lending margins get whittled away when demand for credit is weak, writes Karen Maley.
European gas surges 18pc amid LNG strike fears
Gas futures jumped amid fears that Woodside strikes could put as much as 10 per cent of global LNG exports at risk of interruption
RBA warns the jobs market may be about to sour
Soft wages figures have strengthened the prospect of a cash rate pause, as the RBA warns for the first time the labour market may be about to sour.
‘Let the market sort’ out nuclear, bankers urge Bowen
Deutsche Bank’s Phil O’Donaghoe said that if private capital wants to fund small nuclear reactors then the government should not stand in its way.
Allegro Funds set to appoint adviser for Team Global Express
A request for proposal was sent to investment banks earlier this month, asking them to pitch for a broad-ranging advisory role including defence strategies.
Breaking news on companies, politics and economics, in your inbox as it happens.
EARNINGS SEASON
- Updated
- Earnings season
CSL sheds pandemic chains as it chases plasma boost
Underlying net profit after tax and amortisation at constant currencies was up 20 per cent, showing a strong rebound from pandemic troubles.
Treasury Wine plans for China trade truce
Treasury Wines is ready to divert expensive Penfolds wines back into China if tariffs are removed, which may cause headaches for other markets.
Cochlear investors hear siren call of higher profits
The hearing device maker, which grew profits but saw a margin squeeze, is forecasting a boost this year.
NAB reports $1.9b quarterly profit and a surprise buyback
NAB’s $1.5 billion share buyback reflects the bank’s strength, analysts said, defying concerns about deteriorating credit quality and margin pressures.
Temple & Webster’s AI powers homewares sales
In early fiscal 2024, revenue is up 16 per cent, and AI-enhanced product descriptions have led to an increase in revenue per visit.
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Companies
CBA’s big bet on women’s sports pays off
The CommBank Matildas are reaching some of the biggest audiences in decades. A deliberate decision by the bank to pivot to women’s sport started in 2016.
Tesla rolls out new base Model S and X at lower prices
The US starting price of the Model S has dropped 25 per cent since the beginning of the year, while the Model X has come down 27 per cent.
- Exclusive
- Tax avoidance
‘Gobsmacked’: How identity theft led to Protego fraud
Will’s MyGov account was hijacked – he only found out when they took his income tax refund.
ResMed short sellers see an opportunity with the rise of Ozempic
The increasing popularity of anti-obesity medication could lower demand for sleep apnoea treatments – along with sugary drinks and alcohol, brokers say.
A shake-up is coming for this crucial mining code
More disclosures about native title are also being considered as part of a review of the rules, which underpin the credibility of pre-revenue resource plays.
Lithium explorer Azure says $900m SQM takeover offer not enough
Azure Minerals is so confident in the lithium exploration project that it knocked back a $900 million takeover offer from New York-listed SQM.
ASX-listed Russian coal miner fights sanctions, taps China
Tigers Realm Coal, partly owned by Russia’s state investment firm, said on Tuesday it has struck deals to supply coal with at least four Chinese clients.
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Markets
Investors least bearish on stocks since early 2022: BofA
Equities are poised to struggle through the rest of 2023 in part with cash levels at global fund managers at a 21-month low, according to a monthly survey.
The Fed’s interest-rate debate is shifting
Inflation pressures are easing, yet policymakers are still hesitant to declare victory and that is why rates may hold at current levels for some time.
Canada inflation accelerates to 3.3pc, outpacing the US
A modest easing in core inflation metrics, which filter out extreme price fluctuations, provided a silver lining for Canadian policymakers.
US retail sales top forecasts, showcasing consumer resilience
The value of retail purchases increased 0.7 per cent in July after upward revisions in the prior two months.
China rate cut unlikely to stop $A decline
Strategists warn that larger and more targeted stimulus will be needed to boost economic growth after Beijing released another batch of soft economic data.
Opinion
Australia is on the frontline in battle for rare earths
Australia is racing to bypass China in the hunt for the rare earths that are critical to the global economy and to national security. But the West is far behind.
Columnist
Why the New Zealand housing market keeps Aussie bankers awake at night
The NZ home loan market is a worrying case study of how savagely bank lending margins get whittled away when demand for credit is weak.
Columnist
Results boost hope for soft landing
This year’s corporate profit season seems to bear out the Reserve Bank’s hope of engineering a low-inflation soft landing amid the cost-of-living squeeze.
Editorial
New US China tech ban is not only about technology
Outbound capital heading east is the target of a White House executive order, along with expertise, as the US casts a wide net to protect national security.
Contributor
Matildas aren’t just inspiring young girls, but everybody
Our women soccer players have shown us what happens when a nation unites. It is much more fulfilling than the politicised, media-driven, divisive alternative.
Sports journalist
Why the big four could decide to sever their tax arms
Treasurer Jim Chalmers’ clever response to the PwC tax scandal has drastically increased the risks of being in the tax advice game in Australia.
Columnist
Reports
Supercharging your retirement
The latest Special Report in our Wealth series looks at strategies to make the most of retirement.
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No quick fix for housing supply crisis
Incentives to speed up application processes will be on the table, but every state will reject rent caps.
‘Don’t jinx it’: Premiers cool on Albanese’s Matildas holiday plan
Political squabbling over giving Australians the day off if the Matildas win the soccer World Cup is intensifying.
Deterrence cheaper than war, anti-AUKUS Labor members told
Defence Minister Richard Marles has sought to defuse party tensions over AUKUS ahead of this week’s ALP national conference.
Australia to fall well short of renewables target: analysis
The findings from international research firm Rystad Energy put the blame squarely on the lagging build-out of the transmission grid.
- Exclusive
- ALP
CFMEU to push Labor conference on engineered stone ban
CFMEU National Secretary Zach Smith said he would move to strengthen the party’s national platform to support ending the $600 million industry.
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World
China cuts rates as economic woes deepen
The surprise move comes as the latest data on retail sales and industrial production compound concerns about the slowing economy.
Trump charged over ‘scheme to overturn 2020 election’
The sweeping racketeering case is not only against the former president but some of his most prominent advisers, including former lawyer Rudy Giuliani.
Japan GDP beats forecasts as exports bounce back
While the headline GDP data provides some relief to policymakers seeking to balance economic growth with sustainable inflation, it masks underlying weakness in the household sector.
Saudi Arabia and UAE race to buy Nvidia chips to power AI ambitions
The Gulf states’ purchases of large numbers of Nvidia chips via state-owned groups come as the world’s leading tech companies rush to obtain the scarce chips for AI.
- Opinion
- Inside China
New US China tech ban is not only about technology
Outbound capital heading east is the target of a White House executive order, along with expertise, as the US casts a wide net to protect national security.
Property
The regional housing markets where prices are set to surge
Affordable regional housing within commuting distance to CBDs could see stronger price growth over the coming months, says CoreLogic.
Region CEO flags asset sales as higher interest rates hit mall values
Chief executive Anthony Mellowes does not expect further material asset writedowns as cap rates head towards 6 per cent.
Flexible work will survive despite gloomy signals from WeWork and Zoom
Work is now a thing we do, not a place we go. Offices play a role, but not the central one they’ve held for decades.
This trend could help ease the housing crisis - but the taxman says no
Changes to state and federal property taxes could free up under-used housing and ease rents at a time when vacancy rates are still close to record lows.
Redcap pub fund seeks $50m for two Mackay hotels
The $1.4 billion Redcape Hotel Group is selling assets to shore up its balance sheet after freezing redemptions earlier this year.
Wealth
Forget Nvidia and consider these ASX stocks instead
AI’s refashioning of office jobs and workplaces will be so broad it will throw up many unexpected winners.
- Opinion
- Investing
The three things you need to know about ‘soft-landing’ thesis
Given how resilient the global and local economies have been, negative developments may have a larger impact on investors than consumers.
- Opinion
- Agriculture
How to invest in agriculture without buying a farm
The portfolio thesis for investing in agriculture is compelling – this is how to gain exposure.
Technology
- Exclusive
- Australia's China challenge
Last ByteDance executive leaves TikTok Australia board
Two ByteDance executives have left the local board of TikTok in the past six months as the Chinese-owned company seeks to distance itself from its parent company.
- Exclusive
- AI
Atlassian says you should be told when you’re talking to an AI bot
Australia’s biggest enterprise software company also says the country should adopt a three-tiered approach to regulating AI, with harms ranked as red, amber or green.
AI being used for child sex abuse images in regulation-free zone
The eSafety Commissioner has outlined steps companies can take to make AI safer. But they are only recommendations.
Work & Careers
Will ChatGPT kill off the cover letter?
Recruiters and HR professionals are divided on whether AI will sound the death knell for a traditional part of job applications.
Chevron may bypass union as LNG strike decision looms
Chevron is preparing to bypass unions and put its offer to a direct staff vote as industrial action at three major LNG projects edges closer, unions say.
Life & Luxury
Late to Matildas mania? Good luck finding merch
Matildas merchandise has been flying off the rack, according to Nike, Big W, and Rebel Sports, as Australia faces England for a spot in the World Cup final.
Why Hamilton Island Race Week appeals to women sailors
The regatta’s day-racing format along with the camaraderie throughout the event are big drawcards for the growing number of women crewing in the race fleet.
Troye Sivan’s favourite art gallery may surprise you
For the Australian pop star, there’s nothing like a former Berlin nightclub that’s been transformed.
The Porsche Australians will go nuts for – if it’s ever made
The radical new Mission X concept sports car is primed to break records should it go into production.
These iconic $700k Bentleys are the last of a dying breed
The 12-cylinder behemoth may be a mechanical marvel, but it’s a relic of another era.
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Life & Leisure
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Why Hamilton Island Race Week appeals to women sailors
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