The Financial Review Wine Club is the home for seasoned collectors and wine enthusiasts.
Yes in my backyard: PM’s plea for housing density
Anthony Albanese said Parramatta Road, a key thoroughfare in his own electorate, was ripe for densification as he urged local governments to speed up approvals.
- Opinion
- Chanticleer
What to expect from house prices in 2024
Chanticleer road-tests economists’ house price forecasts with one of Australia’s top real estate agents.
- Exclusive
- Rich List
Inside the descent into chaos at a Chinese billionaire’s cattle empire
“My view was that animals would die, employees would leave, the companies would be sued, and then more cattle would die.”
New visa age limit ‘biased against women, barrier to highly skilled’
Students and academics say that tightening access to work visas for overseas student graduates will discriminate against women and PhD candidates.
- Live
- Markets Live
ASX posts worst start to year since 2007 as December rally cools
Australian shares fall 1.3 per cent in first week of 2024, weighed by tech stocks. Iron ore fall as gold miners bounce. Core Lithium shares dip as mining halted.
The top seven business trends for 2024
Here are the big themes we expect to make news across the corporate world in 2024 – in fashion, the workplace, media and professional services.
- Opinion
- Inflation
Volatility brings opportunity in bonds
Bond issuers’ nervousness about the acute macroeconomic and geopolitical risks has resulted in a flood of supply in the first week of 2024, writes Christopher Joye.
Want to know the latest in food, wine, or where to travel now? In your inbox every Saturday.
Chanticleer
EDITOR’S PICKS
SUMMER READING
- Opinion
- Foreign relations
America’s allies: with friends like these, who needs enemies?
The United States’ foreign entanglements have become numerous and knotty enough to make George Washington turn in his grave, writes Andreas Kluth.
- Analysis
- Russia-Ukraine war
Why the fates of Ukraine, Israel and Taiwan hang in the balance
It will seem obvious to future historians that by 2023, Pax Americana faced a well co-ordinated challenge from China, Russia, Iran and North Korea.
Elite chess players keep accusing each other of cheating
Top chess players cannot seem to stop getting into disputes about the integrity of the game.
- 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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Core Lithium stops mining as price plunge takes big toll
The Northern Territory’s only lithium producer will revert to processing stockpiled ore and suspend operations at its Grants open pit mine.
Rich Listers pile into lithium IPO that closed in 20 minutes
Lithium bull Chris Ellison and some of Australia’s richest families have piled into Kali Metals, a lithium hopeful due to start trading on the ASX on Monday.
Australia’s only solar panel maker plots $100m expansion plan
Tindo Solar has been manufacturing in South Australia since 2011. Now it wants to expand in a growing market dominated by cheap imports from China.
Stall at centre of alleged $15m Westpac fraud scheme faces ASIC action
Liquidator Stephen Mitchell said he would report the company director to ASIC for “investigation and possible prosecution”.
Transgrid strike action threatens renewables build-out
Industrial action starting on Friday may disrupt construction of the $2.3 billion EnergyConnect transmission line, a key part of the renewable energy build-out.
- Investigation
- Payments
Airwallex sought way around Hong Kong anti-money laundering rules
The chief executive of the payments giant, backed by Tencent, asked staff if it was possible to “remove” a requirement of customer vetting, messages show.
Fortescue, Woodside hydrogen hopes in doubt after US rule change
Billions of dollars of hydrogen projects by Australian companies including Woodside and Fortescue may be in doubt after the US proposed rule changes that could exclude them from its Inflation Reduction Act cash.
Companies in the News
Search companies
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Markets
Apple hit with second downgrade this week on iPhone worries
Piper Sandler & Co’s Harsh Kumar cut his Apple rating, citing a weak macro environment in China that will dampen demand for iPhones.
Wall Street still struggling to find its footing in new year
The Dow edged higher, while the S&P 500 slipped and the Nasdaq was lower. US December jobs data awaited. Apple sinks further on second downgrade this week.
German inflation jumps less than expected in boost for ECB
Consumer prices rose by an annual 3.8 per cent in December, up from 2.3 per cent a month earlier. For 2023, prices increased 6 per cent.
Trump’s White House race keeps markets guessing – and the Fed watching
The US central bank may cut rates more than expected this year as the former president nears re-election, at least one geopolitical research firm believes.
- Opinion
- Chanticleer
NAB sweet talks bond investors to reopen capital markets
The bank has kicked off the annual funding spree – and it feels like more deals are only a matter of days away.
Opinion
Australia’s prosperity is not iron-clad
Iron ore is the gift that keeps on giving to this country’s economy – but we are all taking it for granted.
Editorial
Volatility brings opportunity in bonds
Bond issuers’ nervousness about the acute macroeconomic and geopolitical risks has resulted in a flood of supply in the first week of 2024.
Columnist
Inflation dragon is back in its cave
Inflation is notoriously hard to predict. But three factors in particular suggest that it will be subdued.
Columnist
What I wish I’d known when I started university
With the new academic year around the corner, one writer reflects on bad higher-education choices.
Senior correspondent
Why Australia should be celebrating Taiwan’s free elections
Beijing has doubled down on subduing a society that has become a model for democracy in the Chinese-speaking world.
Geopolitical analyst
Victorian Premier Jacinta Allan needs her own story
After her first 100 days in office, Allan is yet to define herself as state leader. She needs a narrative, but faces formidable budget challenges.
BOSS Deputy editor
Politics
Qld subsidises Cairns flights in $5m pitch to lure back tourists
Premier Steven Miles says the city is ready for visitors again after the devastating cyclone, unveiling $5 million worth of discounted airfares and accommodation.
- Exclusive
- Victorian Parliament
Suburban Rail Loop to progress ‘regardless of federal funding’
Victorian Infrastructure Minister Danny Pearson says pausing construction on the $125 billion Suburban Rail Loop will only add to the project’s cost.
International student bubble bursts as visa crackdown bites
The government’s visa reform agenda appears to be having an impact on demand from international students even before most measures come into place.
Australian grape growers fear export hit from port dispute
Australian table grape growers are concerned that long-running industrial action at the country’s ports could delay thousands of tonnes of produce bound for Asia.
Iron ore price surge delivers Labor an $18b tax windfall
The surge in iron ore to $US145 per tonne bolsters the prospect of a second budget surplus, and comes as Labor plans another round of subsidies for voters.
SPONSORED
World
Blinken returns to Middle East amid fears of widening conflict
US concerns about Israel’s end game, and more immediate worries about attacks in the Red Sea, Lebanon, Iran and Iraq, mean the US secretary of state has a full agenda.
Islamic State takes responsibility for Iran suicide bombings
Some Iranian leaders initially appeared to blame Israel for the attack, though a preliminary US assessment pointed to IS militant group.
Epstein had enough info on Clinton and Trump to destroy 2016 election
Epstein’s younger brother, Mark, 69, has suggested his ties with powerful figures went further than have been disclosed.
‘I want to live’: Russian soldiers call hotline and defect to Ukraine
Hundreds of soldiers have handed themselves over to Kyiv after phoning a dedicated number.
- Analysis
- World elections
Biden and Trump make Capitol riot a political rallying cry
The duelling narratives reflect how an attack that disrupted the certification of the election is increasingly viewed differently along partisan lines.
Property
Australia’s love affair with expensive property set to heat up
House prices will rise this year as a property shortage outweighs higher mortgage costs, according to 30 economists surveyed by The Australian Financial Review.
- Exclusive
- Luxury property
Seafaring high-flyers offload Gold Coast super pad for $15.2m record
The Broadbeach Waters record has been reset following the sale of Malcolm Watkins and Peter Kerr’s riverside estate, Te Moana.
- Exclusive
- Luxury property
Former ASX exec Max Cunningham offers $9.5m ‘trophy terrace’
Once close quarters for the city’s working poor, terraces in Sydney’s eastern suburbs are now commanding around $10 million – for the right offering.
- Exclusive
- Luxury property
IFM Investors senior exec Kyle Mangini splashes into Noosa for $13.5m
The fund titan’s global infrastructure boss and his wife Amanda have emerged as the buyers of the Chris Clout-designed Sunshine Beach retreat Azure.
Housing targets at risk as building stalls at decade-low pace
The higher cost of materials, land and finance make it harder for developers to construct more homes profitably.
Wealth
Paying too much tax? Steps to take now before July 1 cuts
With bracket creep cutting household income, here are eight ways to benefit before the stage three changes.
Father left with just $4000 after trusted daughter nabs life savings
Banks are trying to clamp down on unlawful use of powers of attorney as state governments disagree on common standards. But there are ways to safeguard yourself.
Should I move my rental 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.
Technology
- Analysis
- AI
The AI conundrum: productivity booster or job killer?
One year on from the advent of generative AI system ChatGPT, big questions remain about the risks and rewards of embedding the cutting-edge technology in Australia.
Deepfakes will supercharge conspiracies in biggest election year ever
More than half the world’s population will have the chance to vote this year at a time when disinformation technology has become cheap and widespread.
Hiro Brands calls in administrators, 120 jobs on the line
The cosmetics and personal care group is backed by BRC Capital. KPMG said the majority of positions would go if the company could not be sold.
Work & Careers
New visa age limit ‘biased against women, barrier to highly skilled’
Students and academics say that tightening access to work visas for overseas student graduates will discriminate against women and PhD candidates.
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.
Life & Luxury
Artist Ann Thomson, 90, celebrated in her ‘butterfly moment’
The feisty Australian painter’s lifelong dedication to making art will be celebrated in Sydney on Saturday night.
Sayonara Santorini, Australian travellers look to Japan, Asia in 2024
Thousands of Australians descended on the Amalfi Coast last year, but many are expected to look elsewhere for a more affordable getaway this year.
Walking, riding, sailing to CEOs’ favourite holiday spots
Leading chief executives worked hard in 2023, but they also discovered some places off the beaten track to get away from it all.
The woman ready to name and shame equal-pay laggards
The Workplace Gender Equality Agency’s new powers will make business accountable over pay disparity, says Mary Wooldridge.
These are two of the most engaging films to start 2024
Nicolas Cage plays against type in a parable about the ephemeral nature of fame, while Adam Driver transforms into an Italian business titan for the second time.
