Atlassian plunges $10b as earnings blues continue
Shares in Australian software giant Atlassian have continued to plummet after Friday’s earnings announcement, but analysts think the stock will recover.
PM spoils for a fight on stage three tax cuts
The Coalition will move amendments to the Albanese government’s tax cuts legislation, but won’t die in a ditch to get them passed.
Death sentence for dissident rocks relations with Beijing
Efforts to stabilise Australia’s relationship with Beijing have suffered a serious setback after a Chinese court handed a suspended death sentence to Yang Hengjun.
PwC pays $10m to partners who moved to Scyne
The consulting giant paid 23 of the roughly 100 partners who went to the breakaway advisory firm the value of their partnership retirement payments.
Banking regulators confirm delay of executive accountability rules
ASIC and APRA say they will delay the enforcement of key parts of the regime, which came out of the Hayne royal commission, until July.
- Exclusive
- Gas
Strike chief lashes Wesfarmers as tensions build over WA gas
Strike Energy’s chief executive has criticised Wesfarmers for rallying against the WA government’s potential move to overturn an onshore gas export ban.
- Opinion
- Tech Observed
FTX investor losses show the dangers of giving control to exchanges
A single bitcoin is worth $US26,000 more today than when the exchange collapsed, but investors being “paid back” won’t see any of that upside.
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
- Updated
- Mining
Red 5’s $2.2b Silver Lake merger puts WA gold consolidation on ice
But the miner says it has an opportunity to entertain other offers if they come. It had been mooted as a target for Raleigh Finlayson’s Genesis Minerals.
Banking regulators confirm delay of executive accountability rules
ASIC and APRA say they will delay the enforcement of key parts of the regime, which came out of the Hayne royal commission, until July.
AACo did not question board about leak claims after insider plea
AACo’s 52 per cent owner, UK billionaire Joe Lewis, pleaded guilty to insider trading charges in the US last month. Claims of leaks mde to him have been denied.
- Opinion
- Chanticleer
How to spot the next M&A target
Pre-bid stakes will drive M&A activity this year. Today’s $2.2 billion gold merger was another reminder.
- Opinion
- Chanticleer
Scyne v EY: Allegro’s Adrian Loader just wedged the consulting sector
By separating itself from PwC, Scyne and its private equity backer Allegro have created a huge problem for rivals that don’t want to follow its example.
CEO exits stricken Appen after year of ‘great change’
The chief executive of struggling data services company Appen has resigned after 12 months. Ryan Kolln is elevated to the top job.
Planes are getting smaller. Will that send fares soaring?
The first A380 arrived in Sydney some 16 years ago. But the era of massive jets was short-lived. And that could crunch supply and create airport bottlenecks.
Companies in the News
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Markets
- Updated
- Interest rates
Hopes for rate cut dashed as RBA board meets
As RBA directors arrived at Martin Place, former official Paul Bloxham said interest rate cuts were a “distant prospect”, and traders pushed out their predictions.
Robust US jobs market may push RBA easing further out
Traders have pushed back their expectations for the timing of easing in the US and Australia following a stronger US jobs picture.
Rio, BHP drag ASX lower, Appen sinks to record low
Shares decline; RBA two-day meeting kicks off; Appen and Collins Foods with new CEOs; Argo profit slips 8.5pc; $A slumps to US65¢.
Lithium stocks leading short bets as earnings season kicks off
Despite another step down in the share prices of several lithium stocks during January, hedge funds are holding firm on bets the sector could sink further.
RBA expected to soften tone on rate rises amid Mid-East crisis
Shares are set to start lower on Monday and oil prices could bounce ahead of a possible RBA policy pivot on Tuesday.
Opinion
Labor’s vehicle emission shake-up is bigger than you think
The government’s plan to cut car pollution will have its share of loopholes, that will be exploited with gusto. But they could also bring benefits.
Motoring writer
China plays hardball with Canberra on Yang sentence
Beijing is sending a message to the Albanese government that it is not going to get everything it wants by handing an Australian citizen a suspended death sentence.
North Asia correspondent
NDIS entitlement flawed from the start
The scheme has operated as a honey pot that has predictably attracted too many participants.
Editorial
Why central bankers are right to push back on rate cuts
Trying to rig economic growth by slashing interest rates ignores the forces that really decide what levels rates will be.
Economist
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
Liberals don’t want real tax reform
Except for Malcolm Turnbull, Liberal leaders have always scuppered tax overhauls that did not suit the direct interests of them and their outriders.
Former Labor minister and economist
Politics
NSW to create youth agency as many young have ‘given up’ on a home
The announcement of a “youth voice” to represent Millennials and Gen Z came as a planning expert declared that Sydney no longer works for young people.
Government rejects stranded Bahijah’s live export bid
The federal government has given the green light to a second live export ship to travel through the tumultuous Red Sea.
Ben Roberts-Smith fronts court as 10-day appeal starts
The war veteran sat in court on Monday as his team of top-tier barristers attempted to overturn his landmark defamation loss over war crimes media reporting.
- 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.
- 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.
SPONSORED
World
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.
Senate unveils $182b bipartisan border security bill with Ukraine aid
In a deal that would mark the most significant changes in US immigration policy in decades, Senators earmarked $US60 billion for Ukraine effort.
Why Hong Kong is again stirring the interest of Australian companies
It’s not the same as the pre-pandemic, security lockdown era, but there is still “so much opportunity”, says the Australian Chamber of Commerce in Hong Kong boss.
Iranian sanctions-evasion operation in the heart of London
Two banks, Lloyds and Santander UK, provided accounts to an Iranian sanctioned petrochemicals company near Buckingham Palace
- Europe
- Climate policy
Parisians take aim at SUVs in latest green drive before Olympics
The French capital’s Socialist mayor says the time has come to break the trend to “cars that are always bigger, taller, wider”.
Property
Property prices could rise 10pc on lower rates, taxes
House prices and borrowing capacity could jump 10 per cent this year as a result of the combined effect of expected lower interest rates and income tax cuts.
St Hilliers’ construction business collapses into administration
The company told staff an injection of more than $32 million over two years had not been enough to keep the division going. Its development arm is unaffected.
MA Financial snaps up Sheraton in Melbourne’s Docklands for hotel fund
The Four Points by Sheraton Melbourne Docklands, which MA Financial will rebrand as a Vibe hotel, is the seed asset for a $1 billion accommodation fund.
Jon Adgemis pleads guilty to drink-driving in Sydney’s east
The KPMG dealmaker turned hospitality investor’s pub group is also looking for a $500 million refinancing deal.
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.
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
The Aussies hoping to make a fortune from Apple’s Vision Pro
The $11 billion ASX software giant Pro Medicus and a Melbourne start-up are among the businesses hoping to cash in on Apple’s new $5000 headset.
- Opinion
- Mergers & acquisitions
The online beauty stock that will be a takeover target this year
Doubts remain on whether Adore Beauty is really a scalable business, but a failed PE takeover bid late last year will not be the last we hear of a profitable buyout.
- 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.
Work & Careers
Lowitja O’Donoghue, ‘the greatest Aboriginal leader’
Indigenous trailblazer Lowitja O’Donoghue is being celebrated as a giant of modern Australia after her death at the weekend.
Qantas pilots to strike as airline pleads ‘intractable bargaining’
Qantas’ West Australian pilots will strike for 24 hours this week, threatening disruption to mines and regional flights as an 18-month dispute comes to a head.
Life & Luxury
What experts do every day for a longer, healthier life
The burgeoning field of longevity medicine is unearthing simple new approaches anyone could adopt.
Kylie Minogue wins first Grammy in 20 years
The Australian singer’s song has been described as a “hypnotic electro”-inspired dance pop.
- 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.
How to wear black without looking boring
Black is always in fashion, but it can run the risk of looking dull. Here’s how to fix that.
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?
From the gallery
BOSS Financial Review
HR bosses reveal this year’s biggest people problems
- Euan Black, Patrick Durkin and Sally Patten
