Biden orders more strikes as US hits Houthi cruise missile
The US said it had targeted Iranian-backed armed groups for a third straight day, and destroyed an anti-ship missile fire by Houthi militia in Yemen.
RBA expected to soften tone on rate rises
Shares are set to start lower on Monday and oil prices could bounce ahead of a possible RBA policy pivot on Tuesday.
- Live
- Markets Live
ASX to slide, Argo profit down, Metcash in buying spree
Shares are poised to fall; RBA two-day meeting kicks off; Appen and Collins Foods with new CEOs; Argo profit slips 8.5pc; $A slumps to US65¢.
- Exclusive
- Disability
The Brit who predicted the NDIS disaster a decade ago
Dr Simon Duffy warned a decade ago that the design of the national disability insurance scheme created perverse incentives, leaving it flawed from day one.
- Updated
- Emissions
Labor puts carbon cap on new cars, industry revives ute fears
New utes and four-wheel drives could be phased or priced out of the market before there are genuine electric alternatives under Labor’s new rules, motoring groups warn.
- Live
- Need to Know
‘Not genuine reform’: Hume slams Labor’s tax cut changes
WATCH LIVE: NSW consulting inquiry hears from Scyne Advisory managing partner, board member; Labor’s move to change the stage three tax cuts is “a political response” to win favour from voters, Jane Hume says. Follow updates here.
- Exclusive
- Hayne fallout
Bank executive accountability rules delayed
A key change out of the Hayne royal commission was due to begin in March, but the final rules have been waiting for sign off from the government for months.
Breaking news on companies, politics and economics, in your inbox as it happens.
MONDAY MEDIA
Hoyts sale up in the air after Chinese businessman snaps up parent
The cinema chain’s chief executive, Damian Keogh, says a strike in Hollywood has had a material impact on the film slate this year and on box office takings.
Record labels accuse radio networks of ‘smear campaign’ in fees row
The claims are an escalation of a long-running dispute over how much artists and major labels are paid when their music is broadcast.
As billionaires vie for Paramount, a Network 10 sale looks more likely
What happens to Ten as David Ellison, media mogul Byron Allen and PE firm Apollo look at wresting control of Paramount from Shari Redstone?
The Chaser prepares for legal war against Britain’s ITV Studios
Far from being arrested for stunts, the media empire behind The Chaser is fighting against a quiz show that wants to use a similar name.
Disney takes $110m more from Australia, hikes streaming price by 28pc
It will cost more to have the same service on Disney+ from March. The global entertainment giant posted a nearly 30 per cent jump in profit in Australia.
RBA’s new era
The RBA starts a new era on Monday. Here’s how it will play out
The RBA board will break new ground this week, by meeting on a Monday, holding a press conference and releasing its full economic forecasts earlier than usual.
- Opinion
- Monetary policy
Bullock’s interest rate communication job just got harder
The disclosure of RBA board votes and public remarks by board members will make it more challenging for Michele Bullock to control the central bank’s message.
Sticky inflation will haunt the RBA, say top forecasters
Persistently high services inflation may derail market expectations of an interest rate cut as early as May, according to the best economist forecasts for 2024.
- Analysis
- Australian economy
Inflation burden to linger as mortgage relief hopes flicker to life
Labor has reset the economic debate with its blockbuster tax cuts, but will the relief last long enough that voters forget Albanese’s broken promise?
No rate cuts ‘any time soon’: McKibbin
The former RBA board member has rubbished predictions from economists that interest rates could be cut as early as May, saying borrowing costs may still need to rise.
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Companies
Lynas founder backs mooted rare earths mega-merger with MP Materials
Nick Curtis, now executive chairman of Northern Minerals, says he explored the possibility of a deal creating a critical minerals major more than a decade ago.
Wide gulf to cross before Woodside-Santos merger comes true
Investors can’t even agree on the merits of a deal, far less the thorny question of value, leaving an uphill task to sell any transaction to shareholders.
- Opinion
- Big four
The CBA share price premium is really getting out of hand
The bank’s inexplicable and self-perpetuating melt-up that veteran analysts unanimously agree defies the fundamentals is powering the broader index.
Loan competition among largest banks ‘diminishing’: Citi
Ahead of earning season, brokers say the major lenders, along with Macquarie, are consolidating their market share and growing faster than the broader sector.
Luxury brands ramp up VIP touches as they court big spenders
High-net-worth clients are increasingly being feted by brands keen to keep them happy – and spending – with private shopping, butlers and even tennis lessons.
PwC partner weighs defamation action over tax leaks allegation
A PwC partner the firm incorrectly publicly linked to its tax leaks scandal is planning to sue the firm for defamation after mediation talks failed.
Autobarn’s owner Bapcor spins its wheels with four CEOs in two years
Investment bank analysts are split on whether clients should be buying into the auto parts retailer and wholesaler. A new boss has his work cut out for him.
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Markets
Sell-off looms as strategists warn earnings set to disappoint
The ASX is trading at all-time high, yet investment banks are warning investors may get ahead of themselves this reporting season.
- Opinion
- Bonds
Expect a ‘verbal pivot’ from the RBA but no imminent rate cuts
A reduction in the cash rate some time this year is plausible, but there is still some distance to travel before arriving at any imperative decision.
Wild swings ahead for lithium as producers ‘play chicken’
A sharp correction in the battery metal price has triggered more cut backs in output and analysts say investors should brace for even more volatility.
Bigger IPOs earmarked for second half, says ASX
With the sharemarket trading at all-time highs and central banks preparing to cut rates, companies are getting ready to go public.
Parsing the US jobs data: ‘Head-scratching numbers’
The early read is that a March rate cut is “dead”, perhaps May too, after hiring unexpectedly shifted into a higher gear to start 2024.
Opinion
NDIS entitlement flawed from the start
The scheme has operated as a honey pot that has predictably attracted too many participants.
Editorial
What investors can learn from analysing R&D spending
High levels of R&D do not necessarily translate into increased returns on invested capital.
Contributor
The ACCC’s supermarket inquiry will only benefit Woolworths and Coles
The grocery giants have responded in an astute way – cutting meat prices. That could spell the end for the remaining independent butchers around the country.
Columnist
As billionaires vie for Paramount, a Network 10 sale looks more likely
What happens to Ten as David Ellison, media mogul Byron Allen and PE firm Apollo look at wresting control of Paramount from Shari Redstone?
Media and marketing reporter
Like Carter in 1980, America’s Iran options today are limited
The retaliatory strikes point to a toughening US position, with the Biden administration saying everything is on the table, but the reality is different.
Corporate advisor
The home-working revolution is harming young workers
Bosses who insist on a return to the office are demonised – but turning up is better for your career, especially if you are just starting out.
Contributor
Politics
PM fast-tracks debate over tax cut broken promise
Anthony Albanese has released the proposed law early so he can quickly legislate the backflip.
Supermarket review considers ramping up fines for code breaches
An assessment of Australia’s food and grocery regulations will consider increasing penalties on the supermarket giants for bad behaviour.
Albanese flags Gaza demilitarisation as protests hit Sydney, Melbourne
A route to a Palestinian state might involve Hamas giving up its weapons, Mr Albanese said.
Burke flags fines for bosses that breach ‘right to disconnect’ orders
Workplace Relations Minister Tony Burke says he’s willing to compromise with the Senate crossbench on facets of the government’s industrial relations reforms.
- Exclusive
- Gas
Wesfarmers raises alarm as WA warms to onshore gas backflip
Wesfarmers warned the West Australian government against bowing to mounting pressure to overturn an onshore gas export ban.
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World
Indonesia’s poll frontrunner has bad news for Australian nickel miners
Prabowo Subianto has vowed to continue the turbocharged industry development backed by Chinese investment that has flooded the world with cheap nickel.
Crumbling utilities bite as Putin stage manages re-election
The Russian leaders is in full campaign mode as Soviet pipes and freezing flats stoke discontent.
How this mother with IRA links plans to lead Northern Ireland
Sinn Féin said Michelle O’Neill will govern “for all” after she was sworn in as first minister on Saturday, the first time a nationalist has held the post.
- Analysis
- US election
Biden wins first primary as bond with black voters frays
The US president notched up an easy win to all but ensure his party’s nomination. But whether he has captured enough of the crucial black vote is unknown.
Chile’s fires sweep into urban areas killing scores
Firefighters are struggling to contain forest fires in the centre and south of the country caused by El Niño weather patterns.
Property
Auctions start 2024 with ‘an absolute cracker’ of a weekend for sales
The auction year is off to a strong start with almost three in four homes listed selling at the weekend, but experts say a wave of stock could temper the pace.
Former Palestinian refugee, now Rich Lister buys NT cattle station
The Shahin family’s $2 billion revenue-generating Peregrine Corporation has acquired its first broadacre farming property and entered the beef sector.
Vineyards on the market as succession plans wither
More listings are hitting the market as adult children leave the sector and business conditions get tougher.
Rate relief spurs rosy outlook for REITs
The outlook for the ASX-listed property stocks has turned decidedly bullish as the sector heads into its annual earnings season.
Foreign grip on London’s luxury homes tightens as UK buyers wait
Rising borrowing costs, economic uncertainty and the worst cost-of-living crisis in a generation have driven a slowdown in overall UK house sales.
Wealth
These buyers and sellers will be winners when rates start to fall
Get ahead of the game to make the most of opportunities before the rest of the market acts.
- Opinion
- Superannuation
Three ‘tricks’ to get $2m into your super in a year
Maximising contributions after selling a small business can add $2,062,500 to your retirement savings.
We can’t afford new tax on $3m super – should we transfer property?
Sometimes it’s worth accepting “the devil you know” when it comes to Division 296 tax management strategies.
Technology
- Exclusive
- Healthcare
Ozempic maker wants copycat products banned in Australia
The $600 billion drugmaker Novo Nordisk has become one of Europe’s largest companies off the success of its weight loss drug.
Cloudflare says Atlassian server briefly hacked in November
Internet-security company Cloudflare said one of its Atlassian servers was accessed over several days by what it believes that was a nation state attacker.
- Opinion
- Chanticleer
Why the magnificent seven aren’t equally magnificent
Profit results from five of the magnificent seven tech stocks have underscored their dominance. But there are differences in the outlooks and valuations investors must study.
Work & Careers
Aboriginal rights trailblazer Lowitja O’Donoghue dies
Aboriginal rights trailblazer Lowitja O’Donoghue, who played a pivotal role in native title laws and was the first Aboriginal person to address the UN, has died.
Office mandates offer no financial benefit and staff hate them: study
Return-to-office mandates upset workers and fail to significantly improve business performance, an analysis of S&P 500 firms has found.
Life & Luxury
- Driving With Tony Davis
- New car snapshot
Is this $110k+ version of Australia’s favourite Audi worth it?
The smoothness, the beautiful interior, the abundance of tech... The first hybrid variant of the mid-sized Q5 delivers, but here’s why you might want to wait.
12, 16, 24 or 36 hours: which fasting regime will work best for you?
Find the right fast to suit your lifestyle and what will be more achievable. So which tribe do you belong to?
How slick teamwork (and a silky rhythm) can overcome headwinds
The Asia-Pacific managing director of Coinbase has faced his share of challenges. Rowing has taught him resilience.
‘Taylor has topped it’: Swift trumps Aus Open, NYE in hotels gold rush
Accommodation bookings in Sydney and Melbourne have jumped on this time last year, even as room rates double.
Jill Dupleix reveals how to make Ho Jiak’s sweet and sour snapper
Junda Khoo left investment banking to build a restaurant group built on his love of spicy street food.
From the gallery
BOSS Financial Review
HR bosses reveal this year’s biggest people problems
- Euan Black, Patrick Durkin and Sally Patten
