The Financial Review Wine Club is the home for seasoned collectors and wine enthusiasts.
Heat on PM over meeting with Joyce
The prime minister met the former Qantas chief executive in late 2022, just six weeks after the airline began urging the government to block Qatar from expanding its services into Australia.
ASX to slip, Wall Street extends new year sell-off
Australian shares were set to open lower, following further losses overseas. Potential for new S&P 500 record fades away. Bitcoin drops. $A sinks.
Surging iron ore price breathes new life into stranded mines
The commodity climbed for a third day on expectations that Beijing would bolster economic stimulus. Strategists expect to it remain at those levels for months.
Super balances grow almost 10pc thanks to tech rally
Australians’ retirement balances jumped almost 10 per cent in 2023, thanks largely to booming US technology shares, strong global equities, and rising cash returns.
Apple leads $550b tech sector rout in reversal of 2023 rally
While not writing off the Magnificent Seven, hurdles are rising for a repeat performance and at least some investors are repositioning.
- Opinion
- Chanticleer
China’s doing what it can to keep iron ore bears at bay
If this was supposed to be the year the iron ore price fell, it hasn’t started that way.
- Exclusive
- IPO
ASX battles to convince venture capital, founders to think local
The market operator expects favourable conditions for floats by May. But the bourse faces a difficult task in convincing some of the largest start-ups to list.
Breaking news on companies, politics and economics, in your inbox as it happens.
Chanticleer
EDITOR’S PICKS
SUMMER READING
- 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.
Books, podcasts and one game for dealmakers on holiday
Here are our favourite books and podcasts that will get you a little smarter about deals and the economy.
If ‘dry’ January sounds daunting, try ‘damp’ January instead
If you can’t commit to a full month of abstinence, take heart: You don’t have to go cold turkey to improve your relationship with alcohol.
- Opinion
- Social media
There’s only one thing worse than WhatsApp – and that’s a WhatsApp group
Instant messaging services have now made the very idea of just calling someone unacceptable.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
- Analysis
- Casinos
Star gets its house in order as others ponder its future
As any good negotiator will tell you, the best time to do a deal is right before the certainty has set in. In this case, the complete opposite is true.
Wind, solar farms give way to rooftop solar ‘juggernaut’
Wind and solar farms are losing more market share than coal power stations when the rooftop solar panels fire up and send prices to zero or below.
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.
Coal mine tumbles into administration amid boardroom upheaval
Administrators have come into a Queensland mine that just reopened, and with prices still above recent low levels.
This was supposed to be good, dry El Nino year for insurers
An El Nino year can mean a $2.8b difference in insurance claims compared to La Nina. And then cyclones and freak storms arrived last month.
Rich Lister Raphael Geminder poised to snare Pact
Kin Group has moved to an 85 per cent stake in the packaging group as a higher takeover bid gains traction.
Canva on cusp of $1.4b investor and staff share sale
The sale would let early backers and employees realise windfall gains without forcing the Sydney company to go public.
Companies in the News
Search companies
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Markets
OPEC’s crude oil output steady before start of new production cuts
The Organisation of Petroleum Exporting Countries pumped an average of 28.05 million barrels a day in December as it persevered with supply restraints.
Bitcoin reverses ahead of eagerly awaited ETF decision
The world’s largest token fell as much as 9.2 per cent to dip briefly below $US41,000 shortly after 7am in New York.
- Exclusive
- IPO
ASX battles to convince venture capital, founders to think local
The market operator expects favourable conditions for floats by May. But the bourse faces a difficult task in convincing some of the largest start-ups to list.
Stock sceptics say $9 trillion cash waiting on sidelines is a mirage
Expectations that the rally that ended 2023 will be supercharged by cash coming off the sidelines requires a big leap of faith, some say.
Heard it all before? Here are some left-field ideas for the year
Three of the country’s top money managers reveal the lurking ‘known unknowns’ that could affect global markets this year.
Opinion
Let’s not give away this growth card
Migration once again seems likely to keep Australia out of more serious economic trouble. That makes it all the more important to get housing right.
Editorial
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
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.
Economics professor
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
Politics
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.
Private equity crackdown to fight ‘tax avoidance free-for-all’
Foreign private equity funds bidding for local assets are being asked by Treasurer Jim Chalmers to agree to unprecedented tax disclosures and strict tax conditions.
Multinationals hit with 15pc minimum tax rate
Experts say Australia will reap almost none of the $326 billion extra global tax revenue expected to result from the deal, which will generate a significant compliance burden.
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.
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.
SPONSORED
World
Federal Reserve minutes cite ‘diminished’ inflation risks
While policymakers expressed concern about “overly restrictive” monetary policy, the minutes shed little light on when rate cuts might commence.
Iran says at least 103 killed at a ceremony honouring general
No one immediately claimed responsibility for what appeared to be the deadliest militant attack to target Iran since its 1979 Islamic Revolution.
‘No one is safe’: Killing of Hamas leader signals wider conflict
Saleh al-Arouri, 57, was the first senior Hamas political leader to be assassinated since Israel launched its offensive against the group three months ago.
Japan quake survivors face freezing rain, threat of landslides
Heavy rains were forecast in the quake-hit areas on Wednesday, raising fears of landslides, in what could further hinder efforts to free many more trapped under rubble.
Big four firms rethink governance after year of missteps and scandals
Auditors and regulators have been forced to consider ways to strengthen oversight and hold management to account after governance shortcomings were exposed in 2023.
Property
Suburbs where home values soared 20pc in 2023
The strong rebound in home prices last year rewarded some homeowners with more than 20 per cent capital gains.
- Exclusive
- Luxury property
$17.5m Lennox Head estate accelerates auto family’s trophy collection
The Autosports Group’s Pagent clan has set property records across NSW, paying hefty prices for luxury estates in Lennox Head and Sutton Forest.
Bank of mum and dad not enough for this couple
Young Adelaide pair Josh and Rebecca went over their home-buying budget by around $100,000, but believe the higher mortgage stress will pay dividends.
NYC’s financial district gets luxury apartments in office tower
New York mayor Eric Adams has been pushing for residential overhauls to address city’s severe housing shortage, especially where office vacancies have soared.
- 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.
Wealth
Can I move my Airbnb property into my super fund?
A reader with a sizeable property portfolio wonders about the tax and stamp duty ramifications of getting some of it into his SMSF.
- 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.
How to get good deal on an EV
Generous tax breaks are available for the purchase of electric vehicles.
Technology
Canva on cusp of $1.4b investor and staff share sale
The sale would let early backers and employees realise windfall gains without forcing the Sydney company to go public.
- Opinion
- Social media
There’s only one thing worse than WhatsApp – and that’s a WhatsApp group
Instant messaging services have now made the very idea of just calling someone unacceptable.
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.
Work & Careers
Why Wednesday afternoons are a meeting-free zone 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.
Nobel Prize winner cautions on rush into STEM
The economist says the rise of artificial intelligence may boost the need for more graduates with empathy and creativity, rather than science and maths skills.
Life & Luxury
Cummins’ golden summer continues with third five-wicket haul
Australia’s captain was again his country’s best as his 5-57 put the hosts on top in David Warner’s farewell Test.
Pliskova rallies to oust Osaka in Brisbane
Karolina Pliskova gave Naomi Osaka a reality check on her return to tournaments after taking time out, bundling the four-time Slam winner out in three sets.
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.
