Albanese poised to break stage three tax cut promise
The Albanese government will gut the stage three tax cuts for high-income earners and help those on middle and low incomes, including people earning less than $45,000.
Documents reveal cat-and-mouse game in Chinese warship incident
Chinese warship Ningbo repeatedly ignored requests from HMAS Toowoomba before a sonar blast that injured Australian sailors, a previously unseen government note says.
Optus admits gross error on number of failed 000 calls during outage
Optus told a Senate hearing last year that 228 emergency calls failed during a national outage but now admits the true number was 10 times higher at 2697.
Nickel industry urges production credits, royalty help
The billionaire and Swiss mining major Glencore back government support to keep the nickel industry afloat as job losses mount.
- Analysis
- US election
How the New Hampshire primary differs from Iowa’s
Donald Trump is leading Nikki Haley by about 17 points in the New Hampshire polls, but a different voter base and process means the runner-up candidate is hanging on.
- Opinion
- Interest rates
Why the RBA won’t be cutting interest rates in a hurry
There is limited scope for the central bank to reduce borrowing costs in 2024 as it waits for evidence that inflation is returning to target, writes John Kehoe.
- Exclusive
- Russia-Ukraine war
Unwanted Aussie choppers ’1000 times safer than Soviet rubbish’
A former Ukrainian pilot now living in Melbourne has criticised the Albanese government’s decision not to supply Taipan choppers to Kyiv.
KPMG tries a Jedi mind trick | How Victoria’s rail loop was created with PwC | CPA Australia reeling
SUMMER READING
‘Active defence’: how Ukraine plans to survive 2024
After its summer counteroffensive ended in failure, Kyiv is shifting to a new strategy as it prepares itself for a third year of war.
Has skiing become too fast and too furious?
Many report the 2022-23 season in France was one of the worst yet. Not for conditions, but for people behaving recklessly on the slopes.
AI bots are everywhere now. These telltale words give them away
One major sign that the writer behind a given piece of content is not human is an error message. But can the tech giants fight back successfully?
Ukrainian tennis stars turn spotlight back on to war
Ukraine’s golden generation of female tennis players have two goals at Melbourne Park – win matches and remind the world their country is still being bombed.
- Opinion
- Energy
You switched the lights on. Traders made billions
A new breed of traders is upending Europe’s energy markets, mixing computer wizardry and meteorological acumen, and they’re making bank.
AUSTRALIAN OPEN
Why Kia spends $100m on the tennis
The Australian Open is a hotbed of branding and marketing during January as companies look to use it to kick off their year on top.
‘This is his home’: Djokovic one step closer to 11th Open championship
Novak Djokovic is still the man to beat at the Australian Open as he surpasses rivals - and Taylor Fritz.
Ukrainian tennis stars turn spotlight back on to war
Ukraine’s golden generation of female tennis players have two goals at Melbourne Park – win matches and remind the world their country is still being bombed.
Czech giant killer is expecting fireworks
Linda Noskova has put the tennis world on notice after knocking out top players in a blistering Australian Open run, while Daniil Medvedev is still alive.
‘I want to go to the movies’: Gauff, Djokovic waste no time
Supposed illness didn’t stop Novak Djokovic dismantling his opponent, while Coco Gauff joked about being in a hurry at the Australian Open.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Prices for Australian lithium have further to fall
The commodity price forecaster that spooked the big four banks out of a landmark lithium loan says Chinese miners will flourish and drive down lithium prices.
Fourth quarter equities rally boosts Future Fund returns
The Future Fund benefited from a strong fourth quarter for markets as assets swelled to $211.9 billion. But outgoing chairman Peter Costello is cautious.
- Exclusive
- Investment banking
New-look Greenhill eyes local expansion after Mizuho deal
The advisory firm has elevated two bankers to managing director level and wants more dealmakers, to win a greater share of the M&A market.
Malcolm Turnbull exits Fortescue boardroom
The former prime minister has stepped down from the board of a Fortescue subsidiary focused on hydrogen.
Judo shares leap, one day after being downgraded from buy to sell
The additional clarity on the 2024 targets has provided some relief to investors, who had watched the shares fall 30 per cent over 2023.
- Exclusive
- Executive shake-up
Qantas exec renewal advances with more exits
There is finally some movement in the departure lounge at Qantas: group executive for corporate affairs Andrew McGinnes is leaving the airline.
- Exclusive
- Business of sport
SmileStyler may have operated insolvent for 18 months
Administrators McGrathNicol said liquidators should consider an insolvent trading claim and potential breaches of director duties, subject to further investigations.
Companies in the News
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Markets
Markets still too bullish on interest rate cuts
Bond investors are cautioning that expectations of imminent rate cuts are a touch too aggressive, even after traders have dialled back their bets.
Healthcare stocks buoy ASX; IDP slumps; BHP up
Shares advance at the closing bell; IDP plunges after Canada limits visas; Karoon cuts output guidance; Bank of Japan holds pat on rates; iron ore higher. Follow for more updates.
Fourth quarter equities rally boosts Future Fund returns
The Future Fund benefited from a strong fourth quarter for markets as assets swelled to $211.9 billion. But outgoing chairman Peter Costello is cautious.
Cost relief needs to target poor or risk more inflation
Economists warn the federal government’s new cost-of-living package should be aimed only at the most vulnerable to keep the RBA on side.
Canva share sale booms as revenue races higher
Canva will raise over $1.5 billion in an upcoming sale of shares, with the company revealing that AI enthusiasm helped its revenue crack the $US2 billion mark.
Opinion
A political sugar hit is not a reform
Cost-of-living tweaks to taxation will do nothing to fix the deep flaws in the system.
Editorial
Why the RBA won’t be cutting interest rates in a hurry
There is limited scope for the central bank to reduce borrowing costs in 2024 as it waits for evidence that inflation is returning to target, writes John Kehoe.
Economics editor
Beware of the critical minerals trap
Australia relies too much on the next big thing in commodities, while penalising its huge conventional mining sector.
Corporate advisor
Australia can aspire to much greater things
Australia should be a bigger nation – in population, wealth, and influence. But a political culture with shrunken horizons holds it back.
Editorial
Is the ‘vibecession’ finally coming to an end?
Consumer sentiment has soared over the past two months, while expected inflation has plunged. Suddenly, Americans are sounding more positive about the economy.
Contributor
Labor needs to call out the cynical, posturing Greens
The Greens are increasingly shaping policy in Australia, but very little accountability is demanded on them by other parties.
Researcher
Politics
- Analysis
- Income tax
How much tax high earners are really paying
The Albanese government’s move to consider tweaking the stage three personal income tax cuts fuels speculation that relief for high earners could be trimmed.
The ‘lamington’: the other tax cut that could be making a comeback
A tax rebate that has been served up before could be back on the menu in Labor’s cost-of-living relief package.
- Exclusive
- Russia-Ukraine war
Unwanted Aussie choppers ’1000 times safer than Soviet rubbish’
A former Ukrainian pilot now living in Melbourne has criticised the Albanese government’s decision not to supply Taipan choppers to Kyiv.
Documents reveal cat-and-mouse game in Chinese warship incident
Chinese warship Ningbo repeatedly ignored requests from HMAS Toowoomba before a sonar blast that injured Australian sailors, a previously unseen government note says.
Morrison calls time on politics, sets up another byelection
The former prime minister – the first to complete a full term since John Howard – will quit next month after securing global advisory roles in defence.
SPONSORED
World
Israel loses 21 reservists in deadliest single attack on the army
The soldiers were preparing explosives to demolish two buildings in central Gaza on Monday when a militant fired a rocket-propelled grenade at a tank nearby.
Haley changes tune in last-ditch attempt to stop Trump
Nikki Haley sought to distance herself from Republican establishment ties, less than 24 hours out from the New Hampshire primary.
Israel proposes ‘two-month pause’ in Gaza fighting
The proposal to halt fighting in exchange for the release of all hostages comes as the Israeli government comes under intense pressure to end the war.
Australia backs latest US, UK strikes on Houthis
The allies targeted missile storage areas in a bid to slow the militant group’s assaults on cargo ships in the Red Sea that have upended global shipping.
- Analysis
- US election
How the New Hampshire primary differs from Iowa’s
Donald Trump is leading Nikki Haley by about 17 points in the New Hampshire polls, but a different voter base and process means the runner-up candidate is hanging on.
Property
Home builders face an extra cost burden this year
Housing sustainability reforms set to come into effect this year will pit short-term cost against longer-term gains.
- Exclusive
- Office
Emptying of secondary offices leads to highest vacancy rate since 1995
Sydney’s core precinct posted a slight recovery in office vacancy rates in the final three months of 2023, but that was offset by the number of leases not being renewed for the rest of the CBD.
The suburbs where premium houses gain $3m more than average homes
The top 5 per cent of the housing market by value increased faster than regular homes, boosted by their scarcity and strong demand, new figures show.
How a hot wellness trend is taking over in real estate
The real estate industry has picked up on the Blue Zone tag created to flag places with healthy lifestyles. But is it any more than a marketing tactic?
Sydney house prices to climb 16pc in three years
Expected interest rate cut this year, combined with growing shortage of stock would lift house prices across the country, according to Oxford Economics Australia.
Wealth
Can I use my super to invest in or start a business?
A reader with a defined benefit fund needs to weigh up her options extra carefully before giving up a very reliable source of income.
- Opinion
- Superannuation
These families will switch inheritance plans after new $3m super cap
The taxing of unrealised capital gains has become such a red-hot issue that many are looking at new strategies for intergenerational planning.
- Opinion
- Flat Chat
Three things you should know before buying your coastal retreat
Investing in apartments near the beach has a sustained appeal for a variety of reasons – but be aware, life is different out there.
Technology
- Analysis
- Cybersecurity
Why it matters that Australia unmasked the Medibank hacker
The government has shown it can track down the faceless crooks who hold businesses to ransom, while cleverly pressuring businesses not to pay out.
- Exclusive
- Business of sport
SmileStyler may have operated insolvent for 18 months
Administrators McGrathNicol said liquidators should consider an insolvent trading claim and potential breaches of director duties, subject to further investigations.
Investors to look for AI-powered gains during big tech earnings season
Enthusiasm for tech giants has accelerated thanks to hype around generative AI, systems that can spew out humanlike text, images and code within seconds.
Work & Careers
Working from home on mandatory office days ‘doesn’t justify the sack’
A sales representative has been awarded more than $26,000 in compensation after he was sacked for working from home on mandatory office attendance days.
This Aussie lawyer holidayed in Hong Kong and stayed for 25 years
Darren FitzGerald had intended to return to Australia to become a barrister. But he changed his mind after the buzz of working through the Asian financial crisis.
Life & Luxury
Join the AFR Wine club now
The Financial Review Wine Club is the home for seasoned collectors and wine enthusiasts.
Jill Dupleix’s guide to the hottest restaurant openings in 2024
Around the country, just debuted and soon-to-open venues are going bigger, louder and more playful.
You won’t find any Tim Tams at the Arnotts’ Byron Bay passion project
Angelica and Charlie Arnott were upset by the overdevelopment in the resort town, so they built a eco-luxury retreat out in the hills. Now you can stay there too.
‘It’s not over’: Joe Aston turns to writing a book on Qantas
The former Rear Window editor has signed a deal with Simon & Schuster to release a narrative non-fiction book by the end of this year.
He started exercising at 73, but at 93, he’s as fit as a 40-year-old
Four-time indoor rowing world champion Richard Morgan began a regular fitness routine only very late in life. His body offers lessons on ageing.
