The Financial Review Wine Club is the home for seasoned collectors and wine enthusiasts.
House price growth to slow to 4pc as rates bite
The heat is coming out of last year’s surprise housing recovery, with the pace of price growth tipped to halve, held back by affordability constraints.
Wall St edges higher, jobs data challenges rate bets
Shares closed slightly up in New York amid a further diverging of views of when, and how fast, the Fed will cut rates this year.
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.
Biden says Trump is ‘obsessed with the past, not the future’
President Joe Biden warned that Donald Trump’s efforts to retake the White House in 2024 pose a grave threat to the nation.
- Investigation
- IPO
The cricket star, the drinks founder and a deal turned bitter
Entrepreneur Raj Beri hired former cricket captain Michael Clarke to help market his company. Now, Innovation Beverage Group, the company he founded, is seeking to list on the Nasdaq, and is trying to raise more money from investors.
- Opinion
- US politics
The NRA’s legacy will haunt America for years
The National Rifle Association is now indistinguishable from the Republican Party and thousands of Americans have paid with their lives for that reality.
How this ‘mercenary’ start-up scored $100m riding the Ozempic wave
Eucalyptus could have been a Millennial house of brands but instead it hitched its wagon to the breakout drug of 2023, triggering controversy and sales.
Want to know the latest in food, wine, or where to travel now? In your inbox every Saturday.
Chanticleer
EDITOR’S PICKS
weekend 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.
From Ricky Gervais to TikTok: why edgy comedy is back in style
Young people’s newfound love of old-school jokes could simply be a case of rebelling against the absurd overload of strictures imposed by their peers.
Australians are switching off from work. Some blame the WFH fight
Millions of Australians switched jobs during the Great Resignation. But growing evidence suggests that workplace unhappiness is rising. What’s going on?
You may soon never see a live animal in a film
Demand for non-human performers has fallen so much that animal trainers fear it is the end of the road for their ilk.
- Analysis
- AI
The big 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.
SMART INVESTOR
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.
How much better off you’ll be after July 1 tax cuts
High-income earners receive the most from the stage three tax cuts, but there’s a big discussion to be had around intergenerational equity, experts say.
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.
- 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.
How does your super compare to others on the same income?
If yours falls short, we outline what you can do to get on track.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
- Exclusive
- Rich List
How a Chinese billionaire’s cattle empire descended into chaos
“My view was that animals would die, employees would leave, the companies would be sued, and then more cattle would die.”
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Bond traders are resolute on 2024 Fed cuts as data whips yields
Swap contracts tied to Federal Reserve policymakers’ meeting dates are again pricing in almost six quarter-point cuts with the first set for March.
Zhongzhi, troubled Chinese shadow bank, files for bankruptcy
The downfall marks one of China’s biggest-ever bankruptcies, putting more stress on already fragile consumer and investor sentiment.
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.
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.
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.
Opinion
Time to cut through the planning nightmare
Housing is becoming a political headache, perhaps an intergenerational tragedy too. Yet there are things that are in the hands of politicians to change.
Editorial
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
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
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.
Albanese says Joyce meeting was about labour laws, not Qatar
“Just an absurdity,” the prime minister said of questions about whether he spoke about the foreign airline’s market access bid with the former Qantas boss.
- Exclusive
- Israeli-Palestinian conflict
Slim pickings for navy as it struggles to recruit
The navy has lost 500 sailors in two years, with one analyst saying it is mostly because “the navy is not doing things people join the navy to do”.
Lehrmann’s lawyers concede his evidence was ‘unsatisfactory’
But they also say that Brittany Higgins’ testimony was “fundamentally dishonest”, as silks fight over witness credibility in the Network 10 trial.
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.
SPONSORED
World
NY lifts penalties request in Trump’s civil fraud trial to $550m
In contrast, lawyers for Donald Trump argued that 10-plus weeks of testimony produced no evidence of fraudulent intentions or ill-gotten gains.
NRA boss LaPierre resigns days before start of corruption trial
Wayne LaPierre told board members that he would step down effective January 31 as the longtime chief of the National Rifle Association.
- Opinion
- Israeli-Palestinian conflict
America must face up to Israel’s extremism
Increasingly, it looks as if the United States is underwriting a war to remove Gazans from Gaza, writes Michelle Goldberg.
Top China diplomat warns of decoupling risk with US
Foreign Minister Wang Yi said China has “no intention to displace or lord over anyone, still less to seek hegemony”.
- Opinion
- US politics
If Trump is not an insurrectionist, what is he?
If Donald Trump has a political superpower, it’s that other people believe he has political superpowers, writes Jamelle Bouie.
Property
- 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.
House price growth to slow to 4pc as rates bite
The heat is coming out of last year’s surprise housing recovery, with the pace of price growth tipped to halve, held back by affordability constraints.
‘Quite unusual’ January could be good news for home buyers
There are more listings than usual for this time of year in the big capital cities as vendors try to sell before prices slow.
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.
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
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.
Australians are switching off from work. Some blame the WFH fight
Millions of Australians switched jobs during the Great Resignation. But growing evidence suggests that workplace unhappiness is rising. What’s going on?
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.
Aussie Thompson stages stunning fightback to upset Nadal
Jordan Thompson had to save three match points before pulling off a huge comeback against Rafael Nadal in a late-night battle.
Chinese rising star joins Aussie trio in final round of Open wildcards
Three locals have snapped up some of the last wildcards to the Australian Open ahead of four charity matches next week featuring Novak Djokovic and Naomi Osaka.
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.
