Haley backs AUKUS subs deal to counter China
Donald Trump’s close rival for the Republican president has backed the AUKUS agreement and the sale of submarines to Australia.
- Live
- Markets Live
ASX to drop; Nick Scali tops profit guidance; RBA decision pending
Shares are set to open lower as bond yields surge; Wall Street falls; Nick Scali declares fully franked interim dividend of 35¢; Magellan books FUM at $36b; RBA policy decision at 2:30pm AEDT. Follow updates here.
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.
- Live
- Need to Know
Albanese hopes King Charles visit will still go ahead
The King was slated to visit Australia as part of his trip to the region in October; Jacinta Allan urges the RBA to cut interest rates. Follow updates here.
King Charles diagnosed with cancer
The King will receive “regular treatment” and suspend his public engagements, the Palace says in a brief statement.
- Opinion
- Governance
Elon Musk pay ruling will have venture capital firms worried
It’s hard to justify a judge interfering in a commercial bargain, even if it turns out to be more advantageous to one side than the other, writes Karen Maley.
Fraser Short’s Sydney Collective ‘likely’ traded insolvent
But the one-timer owner of some of Sydney’s best-known pubs has told administrators of the collapsed group that he “denies liability” for any insolvent trading.
Breaking news on companies, politics and economics, in your inbox as it happens.
tuesday tech
- Exclusive
- Funding
Tech wreck: Aussie start-up funding plummets two thirds from peak
Away from the headline grabbers such as Canva, Australia’s tech start-up sector suffered a huge drop in investment last year, a new report shows.
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.
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.
- 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.
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
Aquamamma founder admits investors remain out of pocket
But Robert Bates, in court filings, said shareholder agreements contained no specific timeframes for repayment. He is being pursued by six former backers.
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.
Power tariffs may not drop as much as hoped
Cash-strapped households can expect only a modest fall in electricity tariffs from July 1, analysts are warning.
- Updated
- Mining
Red 5’s $2.2b 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.
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.
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.
What this small fintech deal says about data sharing
Few have heard of Fat Zebra and Adatree. But the acquisition points to emerging data rights, as screen scraping teeters and Apple enters open banking in the UK.
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Search companies
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Markets
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.
What happened overnight: Bond yields rise as traders see rates higher for a bit longer
The yield on the US 10-year note leapt back above 4.10 per cent. The Dow is pacing losses in New York after McDonald’s sales miss. Tesla drops anew. Nvidia extends year-to-date rally.
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.
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
Elon Musk pay ruling will have venture capital firms worried
It’s hard to justify a judge interfering in a commercial bargain, even if it turns out to be more advantageous to one side than the other.
Columnist
Why is Defence so little involved in the great defence debate?
In times of global tension, the public needs to understand the purpose of defence, and its costs. But that is hampered by a habit of public risk aversion among the defence leadership.
Naval expert
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
The fight over car emissions is only just starting
Chris Bowen says the new fuel emissions standards will make driving cheaper and give consumers more choice. Car companies disagree.
Columnist
Will new RBA era clarify or confuse monetary message?
Two key questions must be answered in the new era in Australian central banking that started this week.
Editorial
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
Politics
‘Appalling’ death sentence rocks China relations
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.
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.
Why ute drivers worry about Labor’s emissions plan
Power blackouts in Kalgoorlie and surrounds in mid-January did little to advance the cause of electric vehicles in rural settings.
Moneymakers or wildlife killers? Communities at odds over renewables
Many farmers say they can coexist with renewable energy projects but some in rural and coastal communities are ramping up their opposition.
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.
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World
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.
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.
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
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.
Fraser Short’s Sydney Collective ‘likely’ traded insolvent
But the one-timer owner of some of Sydney’s best-known pubs has told administrators of the collapsed group that he “denies liability” for any insolvent trading.
Data centre giant Equinix signs on for $3b wind farm
The mega power purchase agreement between Equinix and TagEnergy will supply enough energy to the grid to cover the Equinix’s 17 facilities around Australia by the end of the decade.
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.
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.
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
- Funding
Tech wreck: Aussie start-up funding plummets two thirds from peak
Away from the headline grabbers such as Canva, Australia’s tech start-up sector suffered a huge drop in investment last year, a new report shows.
- 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
The rate of teens finishing year 12 is falling
The federal government is increasingly picking up the bill for schools as states and territories fail to meet funding agreements.
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.
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
