Celebrate the companies that are making progress in tackling sustainability challenges.
AusSuper offers Origin capital after $20b takeover fails
AustralianSuper, which was instrumental in the rejection of a $20 billion takeover on Tuesday, offered to provide capital to help the country’s biggest electricity and gas supplier fund its transition.
Big super split on plan for automatic super pension
Australia’s biggest superannuation funds are split on whether customers should be automatically rolled into pension products once they reach retirement age.
Transurban deal hands priority to WestConnex over toll-free public
Some market analysts also believe the ASX-listed operator of the road, will have a separate, guaranteed right to two of the four lanes across the Anzac Bridge.
Lang Hancock behaved like his mining empire was ‘extension of himself’
Mining icon Lang Hancock thought he could do as he pleased with assets held by his company, but he breached his fiduciary duties, Gina Rinehart’s lawyers say.
- Exclusive
- Superannuation
Labor signals review of superannuation fund performance tests
Two industry sources said that among possible changes canvassed by the government would be a shift from a strict benchmark introduced by the Coalition.
Cost of living relief possible as economy softens: Chalmers
Treasurer Jim Chalmers has signalled another round of cost of living relief next year, as a string of newly released data showed the economy softened in September.
Business whacked by multinational tax crackdown
Treasurer Jim Chalmers has challenged the opposition to support Labor’s latest changes for big business, despite claims the consultation has been bungled.
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Companies
Woodside kicks off Scarborough seismic testing after approvals
The regulatory approvals stunned green groups and traditional owners and come as a Federal Court case against Santos relating to a separate gas project kicks off in Darwin.
Qantas risks regulator looking for ‘second bite of cherry’
The airline is sticking by its claims that passengers don’t book specific flights, just a promise to get from A to B.
Hedge funds ‘pretty brave’ to short Pilbara Minerals, says CEO
The chief executive of the market’s most shorted stock says hedge funds could get caught out by a swift reversal in the lithium price.
ARN to fight forced sale of Southern Cross stake
The owner of KIIS FM and Pure Gold radio network rejected a Takeovers Panel ruling it illegally bought shares in the rival.
Amazon snaps up rights to cricket World Cups until 2027
The deal means major tournaments including the T20 World Cups – previously aired by Foxtel, Nine and Seven West – will instead be consolidated at Prime Video.
ANZ argues plenty of competition in bid to reverse blocked deal
The bank’s lawyers told a tribunal that the ACCC made an error in blocking the deal, and changes to the lending sector had only boosted competition.
AACo made manager a whistleblower, then retrenched him a month later
Beef giant AACo maintains the job loss was simply due to a restructure. But a dispute has emerged about the timing.
Companies in the News
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Markets
Spot gold rises to record on dovish Fed remarks
After surging higher in early New York trading, the precious metal reversed to 2.5 per cent trade lower at 11am.
Bitcoin hits $US40,000 for first time since May 2022
Investors are increasingly convinced that the Federal Reserve is done with rate hikes as inflation cools, turning the focus to rate cuts next year.
$A hits four-month high as Fed rate cut in sight
Investors are growing more confident the US will cut rates next year, which could pave the way for the Reserve Bank to follow suit.
ASX rallies; energy stocks decline; BHP jumps
Shares advance at the closing bell; the proposed $20 billion buyout of Origin Energy by the Brookfield and EIG consortium was defeated; Metcash reports interim results; gold and bitcoin surge. Follow here for more.
How Regal is making money in small caps when others are failing
James Sioud is among the youngest portfolio managers in Australia. He works alongside Phil King and Todd Guyot in a fund that is more than beating the market.
Opinion
Australia Post’s mail modernisation
Plans for big changes prompt the question of why the government needs to own a postal service in this day and age.
Editorial
US targets China’s involvement in Australian critical minerals
New rules laid out by the Biden administration create competitive hurdles for nervous Australian companies and may lead to restructuring.
Columnist
COP28 pledges and realities
Whatever the outcome in Dubai, the world will end its reliance on fossil fuels not to a political timetable but only when reliable, affordable replacements are a reality.
Editorial
A permanent ceasefire would be just another temporary truce
Supporters of a genuine peace process should hope Israel can finish the job of protecting itself from Hamas as quickly as possible.
Editorial
Capacity scheme sounds grand, but it’s a political Band-Aid
Labor’s “two birds” political strategy had been to promise that a rapid build of massed renewables would deliver both cheaper energy and environmental salvation. But not any more.
Energy expert
Why CEOs must plan for a second Trump presidency
We are likely to see a harder-edged President Trump, without moderate advisers to talk him out of introducing tariffs or blaming China as growth slows.
Contributor
Reports
The Fast Lists 2023
The AFR Fast 100 and Fast Starters lists include a tech firm with its eye on the moon and consultants with 3500 per cent revenue growth.
Politics
Cost of living relief possible as economy softens: Chalmers
Treasurer Jim Chalmers has signalled another round of cost of living relief next year, as a string of newly released data showed the economy softened in September.
‘This time it’s different’ for notoriously unloved annuities
Australians in defined benefit schemes are increasingly choosing lifetime income streams over lump sums.
Business whacked by multinational tax crackdown
Treasurer Jim Chalmers has challenged the opposition to support Labor’s latest changes for big business, despite claims the consultation has been bungled.
Qantas risks regulator looking for ‘second bite of cherry’
The airline is sticking by its claims that passengers don’t book specific flights, just a promise to get from A to B.
Sub snub forgiven as Australia, France step up defence ties
Australian warships will gain access to French navy bases in the Pacific as the two countries put AUKUS tensions aside and counter Chinese influence.
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World
Israel orders more Gazans to flee, bombs areas where it sends them
Desperate Gazans in Khan Younis packed their belongings and headed towards Rafah, which itself was coming under Israeli fire.
Venezuelans vote to claim sovereignty over oil-rich chunk of Guyana
It remains unclear how President Nicolas Maduro will enforce the results. But Guyana considers the referendum a step towards annexation.
Energy chief warns Europe’s gas security ‘without margin or buffer’
RWE chief executive Markus Krebber said Europe needed to boost its capacity to import gas so it could cope with any unexpected outages on pipelines or import terminals.
Israel says ground forces operating across Gaza Strip
Israel said it had struck more than 400 targets over the weekend ‘including extensive aerial attacks’ and had also killed Hamas militants.
- Opinion
- Mining
How Argentina’s Javier Milei looks set to undercut Australian lithium
The president-elect’s country holds 21 per cent of the world’s proven reserves. It is today producing just 6 per cent of supply. This is about to change.
Property
Mirvac lures Optiver, tech unicorn into its offices despite weak market
From trading house Optiver to tech unicorn Advanced Navigation, large companies are upgrading offices to take advantage of a weak office market.
The eclectic houses of Australian suburbia
A new book showcases the range of architectural styles celebrated in the popular Instagram account, with many reflecting the playful character of Australia.
Hemmes’ $3b property empire outgrows nightlife roots
The billionaire has spent at least $900 million building a sprawling hospitality and residential empire. But there’s one business he is happy to leave in the shadows.
House sells for $235,000 more than expected after tenants removed
Agents say it is better to market an empty house, but owners don’t want to give up rental income – and renters don’t want to leave, either.
Man buys home for $2m more than guide, proposes on the spot
In a country obsessed with real estate, one Sydney buyer combined love and property with an $8.5 million auction offer and a ring.
Wealth
Rich Lister returns to his rock’n’roll roots with $180m US deal
The microphone mogul behind Rode has ambitions to be the world’s biggest provider of pro audio gear, most of it made in Australia.
- Exclusive
- Executive pay
Revealed: Australia’s 50 highest-paid CEOs in 2023
Despite topping the pay ranks, Macquarie Group’s Shemara Wikramanayake is just one of two women on the list.
- Opinion
- Investing
What Charlie Munger taught me about life, love and money
Munger compiled a list of 25 common cognitive biases that afflict us, and it makes for a handy guide of mistakes for investors to avoid, writes Jonathan Shapiro.
Technology
- Opinion
- Review
Where Microsoft’s Surface Laptop Studio 2 beats the new MacBook Pro
Microsoft’s latest laptop might not be as powerful as its high-performance Apple rival, but it does offer features and flexibility that Apple can’t match.
- Exclusive
- Funding
VC pitching platform helps founders find investors
It can be a nightmare for entrepreneurs to access backers for their start-ups, but some of the biggest investors in the industry are jumping on a new online marketplace.
- Exclusive
- Funding
Millions for Australian start-up using AI to change how we see
Arkeus, an ambitious Melbourne start-up that has secured early contracts with the Defence Department for its automated optical technology, has also caught investors’ eyes.
Work & Careers
University wage theft tops $159m: union tally
The majority of universities have now been involved in short-changing some 100,000 staff, with unions saying there is a crisis of accountability in the sector.
How Cathie Reid went from typing class to $550m
The Rich Lister originally wanted to be a typist. Instead, she became a pharmacist before she spotted a gap in the market and become an entrepreneur alongside husband Stuart Giles.
Life & Luxury
This is what happens when the ACO does Pussy Riot
ACO Underground, the electrified offshoot of Australia’s premier chamber orchestra, loosened the shackles in a Sydney basement on Sunday night.
Soho House is coming: here’s the type of member they have in mind
Markus Anderson is a master connector with friends in high places and is helping to bring the elite members-only club for creatives to Australia.
The Australian womenswear brand that’s making waves everywhere
Founded by sisters and based in Noosa, where its “secret store” is used as a testing ground, Matteau is the ultimate quiet achiever.
This exec comes up with answers while running barefoot
Ogilvy PR & Health boss Richard Bennett took up running to improve his fitness, but the mental health benefits surprised him.
Yours for just $7k: watch brands save best for last in 2023
From exciting updates to cool artist collaborations, luxury watch makers including Amin Strom, Blancpain and IWC continue to impress right up to the end of the year.
