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Tense Taiwan status quo as voters defy China
Taiwan’s voters have elected the presidential candidate most despised by Beijing, but he will govern with a minority, which means China will ramp up efforts to influence local affairs.
Analysis | Don’t rock the boat: Canberra’s message to Taipei and Beijing
AFR View | Taiwan defies China, yet keeps the status quo
Opinion | Taiwan’s new leader faces a hostile China with a minority parliament
Opinion | Should investors worry about Taiwan’s election result?
Opinion | Taiwan’s vote is a crack in the new axis of autocracy
- Live
- Markets Live
ASX to edge up, jobs data tops data agenda
Shares are poised for a modest gain to start the week with Wall Street closed; Bitcoin consolidates; US bank earnings roll out. Follow more updates here.
Wong to meet victims of Hamas and Israeli settlers
Foreign Minister Penny Wong will meet with Palestinian victims of Israeli settler violence as part of a Middle East mission to push Australia’s position “for a pathway out of conflict”.
Citi’s local business insulated from jobs axe as bonus season nears
Wealth and fixed-income teams expect better pay than last year, but a global glut in deals meant that Australian teams fell victim to a shallower bonus pool.
- Live
- Need to Know
Iowa farmers stung by Trump’s trade war eye Haley
Trump’s trade policies sway voters in the Iowa caucus; Penny Wong to tour the Middle East; Frederik and Mary become king and queen of Denmark. Follow updates here.
Should investors worry about Taiwan’s election result?
Many analysts believe that Beijing is too preoccupied with China’s own economic woes to contemplate using military force to bring Taiwan to heel. But is that too optimistic, asks Karen Maley.
This hedge fund backs ‘spicy shorts’ other firms won’t touch
Chris Prunty and Josh Clark reveal the lessons learnt since launching QVG’s long-short fund five years ago, and why they recently reduced their Core Lithium short.
Exclusive insights from the Street Talk team delivered to your inbox daily.
Chanticleer
EDITOR’S PICKS
SUMMER READING
- Analysis
- Israeli-Palestinian conflict
The regional war no one wanted is here. How wide will it get?
With the US-led attacks in Yemen, there is no longer a question of whether the Israel-Hamas war will escalate into a wider conflict.
- Analysis
- Israeli-Palestinian conflict
Accused of genocide, Israelis see reversal of reality
To Israelis, the charge levelled in the world’s top court is a perversion of history. But for Palestinians, it creates a fleeting sense of justice.
Want to be healthy over 60? This man has all the answers
Fundamentally, living a longer and happier life is available to anybody willing to break a sweat, says the former cancer surgeon turned bestselling author Peter Attia.
- Opinion
- US election
What makes Nikki Haley tougher than the rest
She grew up in the only Indian American family in a small working-class South Carolina town.
- Opinion
- AI
Decisions, decisions ... you might not have to make them any more
You already outsource life’s choices to algorithms. Now the rise of AI promises to make your existence even easier, but are you ready to let go?
AUSTRALIAN OPEN
The decision that changed the Australian Open’s fortunes
The Australian Open is offering the world’s best tennis players a record amount of money this year. There’s one reason, in particular, why it can do this.
Sinner enjoys improved serve, but won’t mention Djokovic’s name yet
Rising stars Jannik Sinner and Leylah Fernandez have marched into the second round of the Australian Open, but a Queensland qualifier’s dream was cut short.
Demand for Melbourne hotel rooms ‘off the scale’ as Open kicks off
Hotels are booking out across Melbourne after the launch of the Australian Open, despite the tournament missing top names such as Nick Kyrgios and Rafael Nadal.
Craig Tiley’s plan to save tennis from the Saudis
The CEO marking 10 years at Tennis Australia is targeting a record crowd of a million people this year and a billion dollars in revenue within five years.
De Minaur to play Raonic in Australian Open first round
The leading local has avoided potential showdowns with the world’s top four until at least the quarter-finals, but faces a treacherous path to get that far.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Merged Woodside and Santos LNG output could slide as projects stall
Approval delays would extend a dip in production and complicate due diligence on a mooted $80 billion deal that would create a global oil and gas giant.
The most unfortunate fortune Australia will ever make
When a mudslide killed 270 Brazilians in 2019, the impact on iron ore markets was supposed to be temporary. Five years on, the tragedy still enriches Australia.
Qantas locked in new legal battle with US workforce
Engineers at Los Angeles International Airport have filed a class action against Qantas, alleging underpayment of wages and other violations of California labour laws.
Lithium’s M&A frenzy is the wildcard ahead of confession season
Lower lithium and nickel prices clearly present an impairment indicator for company directors to consider. But big takeover bids could save the day.
CBA, NAB to disappoint investors as lending costs surge: Citi
The investment bank’s brokers say investors have put “the cart before the horse” after bank share prices lifted on the possibility of rate cuts this year.
Suncorp hopes for a silver lining amid storm clouds and bank headache
Despite some bearish setbacks, could the insurance-banking group still have bullish prospects? Analysts are hoping the poor weather doesn’t hurt so bad.
The one change airlines claim will cut airport cancellations 75pc
The two government agencies responsible for air safety and airport operations seem to be passing the buck on simple changes that could improve on-time performance.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
The government helped dairy farmers – and created another problem
The gap between the local farm gate price and that in New Zealand is now so wide there has been a rise in cheaper imports, hurting Australian producers.
How markets were looking before the ASX opening bell
The benchmark S&P/ASX 200 Index was set to rise 0.1 per cent, or 5 points, from Friday’s 7498.3 points close.
Oil tops $US80 as strikes against Houthis raise Middle East risks
Global benchmark brent rose as much as 4.3 per cent, briefly topping $US80 a barrel, as investors feared an escalation of hostilities.
JPMorgan posts record net interest income
JPMorgan Chase & Co closed out the most profitable year in US banking history and forecast that it may reset its income record in 2024.
US producer prices unexpectedly fall; goods deflation under way
The producer price index for final demand dipped 0.1pc last month and November’s data was revised to show the PPI falling 0.1pc instead of being unchanged.
Opinion
Taiwan’s new leader faces a hostile China with a minority parliament
William Lai Ching-te has led his party to an unprecedented third successive term, but his victory celebrations will be short-lived.
North Asia correspondent
Taiwan defies China, yet keeps the status quo
A China-sceptic president with a weakened majority may be the best formula for keeping the ambiguity that is Taiwan’s best defence against Beijing’s suspicions.
Editorial
Should investors worry about Taiwan’s election result?
Many analysts believe that Beijing is too preoccupied with China’s own economic woes to contemplate using military force to bring Taiwan to heel. But is that too optimistic?
Columnist
Taiwan’s vote is a crack in the new axis of autocracy
Jiang Zemin told me that liberal democracy is not for China’s people. Taiwan has once again shown this to be nonsense.
Columnist
Why stage three tax cuts could complicate RBA rate cuts
Objections to stage three tax cuts on grounds of its size and fairness no longer stand up, but the Reserve Bank must carefully monitor their impact on inflation.
Economist
Don’t rock the boat: Canberra’s message to Taipei and Beijing
Canberra has a big investment in preserving the status quo.
International editor
Politics
PM should ‘pick the phone up’ to fix ports dispute: Dutton
Peter Dutton said with “hundreds of ships lining up offshore” it was within the prime minister’s power to “pick up the phone” to union leaders and get the issue sorted out.
The one change airlines claim will cut airport cancellations 75pc
The two government agencies responsible for air safety and airport operations seem to be passing the buck on simple changes that could improve on-time performance.
Libs pick local mayor for ‘high stakes’ Dunkley byelection
Frankston mayor Nathan Conroy has been chosen to run in the crucial seat, but admits he faces a tough ask given Labor’s 6.3 per cent margin.
Houthis vow strong response after new US strike
President Biden reiterates the US policy of strategic ambiguity on Taiwan; Gaza offensive continues nearing 100 days of war; French, German tensions threaten EU’s Red Sea response. Follow updates here.
Stage three tax cuts will have a ‘negligible’ effect on inflation
New research from JPMorgan has hosed down one of the key criticisms of the controversial tax cuts, which come into effect on July 1.
SPONSORED
World
Iowa farmers stung by Trump’s trade war eye Haley
Trump’s tariff-heavy trade policies are less popular than many people think, and already swaying voters in the upcoming Iowa caucus.
Australia’s business elite turns its back on Davos
No government minister and barely any big-ticket CEOs: either Australians don’t want to interrupt their summer, or the World Economic Forum is losing its cachet.
Germany invokes the Holocaust in defence of Israel
Germany has emerged as one of Israel’s most vehement supporters after South Africa brought a charge of genocide.
Haley overtakes DeSantis in Iowa before first test against Trump
Nikki Haley and Ron DeSantis both hope to place a strong second as the Republican nominating contest kicks off.
What is the genocide case against Israel in the world court?
South Africa alleges that Israel is violating international law by committing and failing to prevent genocidal acts.
Property
Fifth-generation McWilliam rebuilds winemaking legacy in Hunter Valley
David McWilliam says the new brand will focus on premium wines, a market the old company failed to capture.
Unsold units, office conversions qualify for 40,000-home tender
Funding unlocked for the federal government’s push to boost social and affordable housing stock could be used to repurpose existing structures.
- Exclusive
- Commercial real estate
Mirvac office fund declines 14.5pc as headwinds hit wholesale sector
While office assets continue their drawn-out decline in value, dark clouds are also sitting heavy over the golden child of industrial property.
Why 2024 could reset Australia’s most expensive home
Chinese buyers seeking beach houses, a penthouse that could top $140 million, and an off-the-plan boutique boom: what to expect from luxury property this year.
Weaker home loans point to slower price growth in 2024
House prices grew last year even as borrowing costs picked up, but affordability constraints are likely to kick in this year, economists say.
Wealth
Investors ‘flying blind’ over climate lawsuit risks
Polluting companies could be liable for trillions in damages from climate cases, but investors and regulators are overlooking the risks, academics warn.
- Opinion
- Superannuation
Time for a rethink if Chalmers wants super to help build nation
Performance tests clipped the wings of super funds and stymied investment. Ahead of another government review, it might be time for a change.
Eight smart ways to reset your finances and boost your wealth
This is an ideal time to review personal and family finances, set new goals and take the first steps to refresh your strategy.
Technology
Amazon’s Twitch axes a third of its staff as tech cuts enter new year
Australian staff at the platform, which features live-streams of people playing games, were also let go. Its local rival, Kick, has been hiring popular gamers.
Hertz to sell 20,000 EVs in shift back to petrol-powered cars
The move comes due to weak demand and high repair costs for its battery-powered options.
The gadgets you didn’t know you needed
The hit reviews of the past, from coffee machines to smartwatches and most things between.
Work & Careers
Why having ‘a mistake budget’ could unlock your hidden potential
“If you hit all your goals this year, it means you’re aiming too low,” says organisational psychologist and best-selling author Adam Grant.
Nine CEOs reveal their favourite productivity hacks
Removing social media apps, reducing the length of meetings, listening to podcasts at faster speeds, and ChatGPT are among the tools chief executives use to get more out of their day.
Life & Luxury
The food stars serving ace after ace at the 2024 Australian Open
It’s not just about the game... Spanish restaurateur Abel Lusa joins the culinary lineup this year with his Cambio de Tercio pop-up.
Unwind in style at andBeyond’s new Punakha River Lodge in Bhutan
A tented suite set amidst lush scenery provides every creature comfort during a pilgrimage to find spiritual solace.
Craig Tiley’s plan to save tennis from the Saudis
The CEO marking 10 years at Tennis Australia is targeting a record crowd of a million people this year and a billion dollars in revenue within five years.
Three wellness hacks of the wealthy, and how to copy them on the cheap
Executives are installing home saunas and ice baths, to chase peak performance. But when it comes to proven benefits, experts say you can achieve them for less.
How to wear it – the total wardrobe edit
Your one-stop personal shopper is here in the form of our top-rating fashion advice columns of the past year.
