The Financial Review Wine Club is the home for seasoned collectors and wine enthusiasts.
Inflation risk to RBA interest rate cut bets
As political battle lines are drawn over the cost of living, Treasurer Jim Chalmers will trumpet higher wages, even as real incomes continue to decline.
Super fund CIOs go defensive amid fears rates stay high
Investment chiefs who collectively manage more than $1.5 trillion in retirement savings are ramping up their exposure to unlisted assets, private credit and cash.
Bankers bet on ASX rally as floats hit 30-year low
Australian floats raised just $US677 million in 2023, lower than the $US746 million the year before. Advisers are hope bullish investors will turn the tide.
- Opinion
- Company mergers
Chemist Warehouse blows up pharmacy regulation
The listing of Chemist Warehouse on the ASX is the final nail in the coffin for laws designed to keep pharmacies in the hands of small business owners.
- Exclusive
- Foreign relations
‘Airbus Albo’ ready for takeoff in 2024
The PM faces a heavy schedule of overseas visits in the second half of the year – one per month – just as the political heat returns to electioneering.
‘No need to be defensive about gas’: NSW Energy Minister
NSW Energy Minister Penny Sharpe say gas will continue to play a critical role firming up a grid increasingly dependent on intermittent renewables.
Gippsland wind projects shortlist takes shape, with wrinkles
Several investors will have to sort out overlaps in their proposals off Victoria, one of the world’s most promising regions, and reapply for licences.
Breaking news on companies, politics and economics, in your inbox as it happens.
Chanticleer
EDITOR’S PICKS
SUMMER READING
He was ready to die, but not to surrender
How a Ukrainian soldier escaped from the embattled Azovstal steel complex in Mariupol and sneaked 1200 kilometres to home territory.
Inside the world of the billionaire Birkenstock brothers
Birkenstock has achieved the impossible over the past decade and migrated from being the podiatrist’s shoe of choice to a front-row catwalk favourite.
This AI subculture’s motto is: go, go, go
The eccentric pro-tech movement known as Effective Accelerationism wants to unshackle powerful AI, and party along the way.
- Opinion
- Pop culture
Is this the endgame for the age of heroes?
Who wants to watch 30 films and 10 TV series to engage with a franchise that continues to spread itself too thin at the expense of quality filmmaking?
- 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.
SUMMER INVESTING
- Opinion
- Portfolio diversification
The best five assets to buy in 2024, and three to dump
With inflation remaining high and markets fluctuating wildly, active investors stand to gain the most.
- Opinion
- Chanticleer
Top investors name 11 long-term stock picks
Healthcare, digitisation and resources are the big themes that dominate the list of stock picks from top fund managers.
These nine micro-cap stocks are tipped to surge in 2024
Stock pickers say an unusual set of circumstances presents a great opportunity for brave investors to buy cheap companies with strong outlooks.
- Opinion
- World markets
Our predictions for the year ahead
Financial Review writers share their predictions for the new year, from the odds of a second Trump presidency; the chances for peace in Gaza; and how many times the RBA will cut interest rates in 2024.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Five ways to get Australia’s waste problem under control
We produce masses of rubbish but fare poorly in waste recycling and recovery compared to other countries. An abundance of land and a lack of policy has made us lazy.
Bank margins in focus as COVID-19 funding due date looms
Big banks are racing to price new bond deals next week ahead of a June 30 due date to repay billions in ultra-low cost funding.
Gippsland wind projects shortlist takes shape, with wrinkles
Several investors will have to sort out overlaps in their proposals off Victoria, one of the world’s most promising regions, and reapply for licences.
Australia’s biggest bus business orders strategic review; $4b valuation tipped
Kinetic’s owners, OPTrust and Foresight Group, have been auditioning investment banks for a strategic review of the $4 billion bus operator.
Koala narrows losses but faces big debt call within months
Revenue growth is stalling at the company best known for its boxed mattresses.
- 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.
- 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.”
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
‘Idiosyncratic headwinds’ to cap returns at 7-9pc say super fund CIOs
A raft of elections around the world will also challenge investors, say asset managers as they focus on stable and resilient earnings amid market volatility.
ASX to open flat as traders pare RBA rate cut bets
Australian shares are set for a muted start on Monday after strong US job data suggests interest rates will stay higher for longer.
- Analysis
- Short-selling
Short sellers crowd lithium companies to start year
But some of the country’s biggest hedge funds are saying conditions are still tough to make money betting against stocks.
- Opinion
- Sharemarket
Get ready for a robust upswing in the sharemarket
Consensus once again tells us to take a cautious approach to equities, but we believe investors should be positioning for a much stronger year ahead, writes June Bei Liu.
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.
Opinion
There is plenty the West can do for Ukraine
Ukraine’s defence is not a futile stalemate. It’s as important as ever that Vladimir Putin cannot dominate the negotiating table.
Editorial
How Albanese can rebuild from here
The Labor government ran into headwinds during 2023. But is the political breeze about to shift in its direction.
Former Labor minister and economist
History’s judgment still awaits John Howard on Iraq
Even when released, the cabinet documents relating to the 2003 Iraq war will not reveal the impulses that drove John Howard into a disastrous commitment.
International editor
America is on the mend. But do the voters believe it?
The resilience of the US economy and society during and after the pandemic has been remarkable. But so is the pessimism of ordinary people.
Contributor
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
Politics
China rare earth bans put heat on Australia to respond
“Over-reliance on one supplier of any one good or technology puts you in a vulnerable position, and that’s what we want to change,” says the resources minister.
Push to end $56,000, 135-week paperwork ordeal for foreign doctors
‘Demoralising, frustrating, time-consuming’, say scathing foreign health workers of Australian visa rules as a new push to simplify red tape kicks into gear.
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.
- 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”.
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.
SPONSORED
World
Blinken meets with leaders to ‘prevent the conflict from spreading’
US Secretary of State Antony Blinken met Sunday with Arab partners to press for their help in tamping down fears that Israel’s war against Hamas in Gaza could spread.
China sanctions five US defence companies over sales to Taiwan
The sanctions will freeze any property the companies have in China and prohibit organisations and individuals in China from doing business with them.
Trump downplays Capitol siege, says border crisis real ‘insurrection’
The former president continued to claim that countries had been emptying jails and mental institutions to fuel a record number of migrant crossings.
Deaths mount as envoys vie to stop Gaza war’s spread
US Secretary of State Antony Blinken and the European Union’s top diplomat, Josep Borrell, were on separate trips to the region to try to quell spillover.
Grounding of Boeing 737s latest blow to business for aviation giant
The future of the aircraft model has been called into question again after the fuselage of a new 737 Max 9 flown by Alaska Airlines blew out at 16,000 feet.
Property
Palm Beach to Coles Bay: 2024’s best holiday homes on offer
Whether actively searching (or summer holiday dreaming) we have unearthed the best luxury holiday homes on the prestige market in 2024 – so far.
Cashed-up Boomer downsizers go upmarket in Brisbane
The interest rate cycle strongly favours asset-rich, downsizers who have minimal exposure to higher borrowing costs and plenty of equity in the family home.
Billionaires Island draws super rich to secluded Dubai enclave
Dubai’s property market recently broke a decade-long record for home sales as the local government relaxed visa laws and introduced permits for jobseekers.
- 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.
Wealth
The free budgeting tool financial advisers swear by
Don’t spend more than 1pc of your income without sleeping on it, set realistic goals and be prepared to falter – here’s how to take control of your money.
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.
Technology
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.
- 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.
Work & Careers
Job hunters no longer calling the shots in a softening labour market
The balance of power is gradually shifting back to employers after jobseekers enjoyed a “candidate’s market” for about two years.
As office workers make their return, so does the lowly cubicle
Cubicles, like scrunchies, are back, spurred by demand from employers and employees alike.
Life & Luxury
Nadal to skip Australian Open due to injury
Rafael Nadal has withdrawn from the Australian Open after suffering a small muscle tear at the Brisbane International last week.
Queensland rain no barrier to the ‘event that gets the year started’
Magic Millions might just be the only place on earth where Hollywood stars and former rugby league players share a meal and a glass of champagne.
Australia victorious in Warner’s last Test
David Warner signed off from Test cricket with a brisk 57, as Australia claimed a 3-0 series sweep at the SCG
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.
