The Financial Review Wine Club is the home for seasoned collectors and wine enthusiasts.
- Opinion
- Chanticleer
Dan Murphy’s owner Endeavour finds a fragile peace
Australia’s corporate stoush of 2023 has ended with a Goldilocks solution, but the test of the truce will be the company’s operating performance.
- Live
- Markets Live
ASX drops, Suncorp weather claims on track with projections
Shares declined in tech sell-off; Endeavour board shake-up; Infratil’s CDC affirms guidance; Gold Road hit by labour shortages. Follow updates here.
Cybersecurity the top headache for bosses as concerns over WFH fade
An annual survey by KPMG of 319 executives found that 43 per cent rated cybersecurity as their main worry, moving it up from third place last year.
PM vows full release of 2003 Iraq war cabinet documents
“Australians do deserve to know the basis upon which the decision was made to send Australia to war,” the prime minister says.
- Opinion
- Monetary policy
This is not America: rates are not coming down in 2024
There are no grounds for the cash rate to fall here in 2024. The Albanese government’s big job will be selling that reality to voters, writes Richard Holden.
Endeavour loses chairman in reshuffle aimed at placating investors
The changes follow months of animosity between the alcohol retailing and hotels group and its largest shareholder, billionaire publican Bruce Mathieson.
- Exclusive
- World elections
Taiwan warns of ‘disturbing’ election interference by China
Taiwan’s chief representative in Australia, Douglas Hsu, says China has ramped up efforts to influence the island’s January 13 election.
Breaking news on companies, politics and economics, in your inbox as it happens.
Chanticleer
EDITOR’S PICKS
SUMMER READING
Why party drinking hits midlifers so hard – and how to recover quicker
It can take 72 hours for brain and body to return to equilibrium. But the good news is there are ways of recovering faster.
What’s next for Ozempic?
Scientists are exploring whether the new diabetes and weight-loss drugs could also treat addiction, kidney disease and more.
10 ways to support your mental health in 2024
We’re paying more attention to our inner lives. Fortunately, there are a number of things that everyone can do to nourish their mental health.
Tesla blamed drivers for failures of parts it long knew were defective
Tens of thousands of customers told Tesla about a host of part failures. It blamed vehicle ‘abuse’, but documents show it had tracked chronic ‘flaws’ for years.
How these top CEOs stay fit and healthy
From a returned ballerina, to a marathon-running CEO and an executive yogi, nine leaders tell the BOSS team about their daily routines.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Commonwealth Bank cedes ground in battle for home loans
While it is growing the loan book again, the country’s largest lender is doing so at a far slower rate than competitors and losing market share as a result.
Air traffic control ‘staff breaks’ cause flight chaos, airline anger
Airspace in the busy route between Brisbane and Sydney was abruptly left without air traffic services twice on Tuesday, causing a raft of cancellations.
- Exclusive
- Rich List
How some Rich Listers doubled their fortune in 2023 while others fell
The boom in IT stocks burnished the fortunes of Australia’s top tech entrepreneurs, while the crypto millionaires made a comeback.
Tesla blamed drivers for failures of parts it long knew were defective
Tens of thousands of customers told Tesla about a host of part failures. It blamed vehicle ‘abuse’, but documents show it had tracked chronic ‘flaws’ for years.
Industrial action at ports ‘bigger problem’ than Red Sea attacks
Ongoing industrial action at Australian ports poses a much bigger problem for consumers than Houthi rebels in the Red Sea, experts say.
- Exclusive
- Property development
Buckeridge family to relaunch sale of West Australian builder BGC
The company recorded a $63 million loss for the last financial year, according to new accounts. Construction costs had jumped 50 per cent in two years, it said.
Why 2024 will be the year of the big battery
This year is set to be the first in which the capacity of new big batteries starting construction in Australia exceeds the combined capacity of new wind and solar farms.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Chanticleer
Get out of the way, the market’s bulls are running
The market is so strong that fund managers are interrupting their holidays to throw cash at it. But this rally is about the macroeconomy.
Apple triggers broad tech sell-off to start Wall St’s new year
Hit by a downgrade, shares in the iPhone maker tumbled. The selling hit both large and smaller cap tech stocks, and was expected after a stellar 2023 rally in the sector.
Surging ASX creating overvaluation risks, some strategists worry
ASX records are expected to tumble, but the highest sharemarket will come at the expense of increased volatility, according to fund managers and strategists.
Bond yields rise as global rate-cut bets ease
A volatile start to the New Year saw yields leap higher, then steady, as traders tempered earlier more aggressive bets on interest rates.
Cheap China stocks lure investors who see slump as rock bottom
Almost a third of 417 respondents to Bloomberg’s latest Markets Live Pulse survey say they will increase their China investments over the next 12 months.
Opinion
Trump and Xi’s mutual march of trade folly
Donald Trump would erect a 10 per cent tariff wall on everything if he returns to the White House. That sets up a clash with an equally myopic Beijing.
Editorial
Five big tests for small businesses in 2024
Cash flow, new IR rules, and the threat of cybercrime are making life for small enterprises even more precarious.
Small business advocate
Australia should deploy to the Red Sea – but for the right reasons
The economic arguments for protecting trade from modern-day marauders such as the Houthis are far more compelling than loyalty to the US alliance.
Columnist
After a stellar 2023, is time up for the Magnificent Seven?
The giant technology stocks – from Apple to Tesla – drove US markets sharply higher last year. But are they beginning to lose their lustre?
Columnist
Labor must hush the leadership chat
The government should respond to narrowing polls by taking the economic reform debate up to the opposition.
Researcher
Cowardice and populism must not mark politics in 2024
This will be an election year in all but name. Anthony Albanese has to finally live up to the economic reform challenges
Editorial
Politics
Private equity tax plans in Chalmers’ sights
American, Canadian, European and Asian private equity funds and their advisers are being forced to accept a new set of tax conditions when bidding for assets.
Government suppliers to face sweeping new ethical rules
A new ethical code of conduct for suppliers will require federal tenderers to manage conflicts and vouch for the integrity of their subcontractors.
‘We turn everything on we can’: households cash in on solar boom
On Sunday, Melbourne man Mark Campbell was paid to charge his Tesla and use his dishwasher and clothes dryer as bumper rooftop solar generation sent power prices below zero.
ADF to help with clean-up as floods keep rescuers busy
Fifty ADF personnel will head to the Gold Coast, Scenic Rim and Logan from Thursday to help with recovery as storms and heavy rain batter southeast Queensland.
Mathias Cormann did ‘some work’ for ex-PwC boss Luke Sayers
The new revelations follow Luke Sayers admitting that his new firm Sayers Group granted Cormann some shares before he took the OECD job.
SPONSORED
World
Tough rules for US green hydrogen incentives open door for Australia
The Biden administration’s proposed regulations for accessing tax credits are worrying some developers, but are likely to keep more investment local.
- Updated
- Aviation
Miracle escape from burning plane after runway collision in Tokyo
A Japan Airlines plane carrying 379 people landed at Tokyo airport and burst into flames after a collision that left five dead on a Coast Guard plane.
Top Hamas leader killed in Beirut blast
An explosion in Beirut on Tuesday killed Saleh Arouri, a leader with the Palestinian terrorist group Hamas, and three others.
Who is Saleh Arouri, the senior Hamas leader killed in Beirut?
The chief of Hamas’ West Bank operations, Saleh Arouri, was killed in an explosion, the militant organisation says, blaming a “Zionist raid”.
Israel pulls back some troops, but threats to Palestinians remain
The military says it is withdrawing some soldiers from Gaza, but its forces continue to pound the enclave, according to residents.
Property
- Opinion
- Property development
Victorian land vendors face significant risk from new contract laws
Land owners are prohibited from entering into some sale of land contracts with provisions for the purchaser to pay land tax or windfall gains tax. There are significant financial risks for vendors and advisers who unwittingly get it wrong.
The building spree that reshaped Manhattan’s skyline? It’s over.
The heart of New York is entering its most significant office construction drought in decades. The next wave of towers may not open until at least the early 2030s.
US office owners face $170b wall of debt repayments
Commercial mortgage rates have nearly doubled in 10 years, while the performance of many buildings has sunk, raising the prospect of heavy losses for investors.
Property values surged 8.1pc in 2023
The rise in home values was a sharp turnaround from the 5 per cent drop the previous year and defied forecasts of double-digit declines, data from CoreLogic shows.
- Exclusive
- Construction
Non-bank lending worth $74b, could double in five years
Non-bank lenders could account for almost a quarter of the commercial real estate debt market by 2028, Foresight Analytics says.
Wealth
- Opinion
- Superannuation
This super catch-up contribution can help you avoid a big tax bill
It’s one of about eight key retirement saving opportunities – but don’t leave it to June 30.
- Opinion
- Investing
Four banks went bust this year and I made money betting against all of them
There are few economic ailments for which the cure is not a healthy dose of scepticism, writes Argonaut Capital founder Barry Norris.
- Opinion
- Investing
Five adjustments for a better performing portfolio in 2024
The No 1 task for investors embarking on a new year portfolio reset should be to check their allocation to Aussie bonds.
Technology
Fidelity’s X stake fell 72pc in value since Musk buy
The investment firm has again cut the value of its stake in the platform, formerly Twitter, amid a particularly tumultuous time at the social media company.
Hacked testimony could be released after Victoria stares down ransom demand
Cybercriminals breached Victoria’s courts late last year, gaining access to a system that holds recordings of hearings the media may be barred from covering.
- Opinion
- AI
Media and tech war over generative AI reaches new level
News groups risk surrendering their audience to AI companies. They could also see the value of their brands diluted if ChatGPT and its like become the new oracles.
Work & Careers
- Exclusive
- Chanticleer CEO poll
The 53 risks top CEOs say you’re not paying enough attention to
From the ageing population to housing, healthcare and cybersecurity, there’s plenty keeping our top bosses awake at night.
Women outnumber men at all but two Aussie universities
A lack of other post-school study options, and the rise of qualifications in female dominated fields, mean women are dominant on almost every campus.
Life & Luxury
Why Wednesday afternoons are meeting-free for this exec
Westpac digital strategy head and BOSS Young Executive Jessica Hallett says Wednesday afternoons are her time to read and carry out tasks to empower her team.
Books and podcasts for dealmakers
Here are our favourite books and podcasts that will get you a little smarter about deals and the economy.
The TV shows these CEOs couldn’t stop streaming in 2023
The Bear, Beckham, Beef and a gay coming of age series were among business leaders’ favourite streaming shows of 2023.
- Opinion
- Diet
Worrying about your post-festive BMI? You may not need to
Body mass index is saddled with scientific and historical baggage – and may not be that useful a measurement of health outcomes, anyway.
10 ways to support your mental health in 2024
We’re paying more attention to our inner lives. Fortunately, there are a number of things that everyone can do to nourish their mental health.
