- Opinion
- Chanticleer
Nvidia and the trouble with bubbles
Nvidia’s staggering growth and surging share price is drawing comparisons to previous bubbles. How should investors approach this mania?
Billionaire MinRes founder slams critics over balance sheet
Chris Ellison has blasted his critics and talked up iron ore after moving to limit production from one of the world’s biggest lithium mines.
Indonesia bids to join club of rich liberal countries
Fresh from its election, Indonesia has formally applied to join the 38-country OECD. It’s a boost for the liberal West, but might mean tough domestic reforms.
Keating ‘on the money’ on super funds appointing directors
It is a “logical next step” for industry superannuation funds to seek roles on listed company boards, industry experts say, especially in the energy sector.
- Opinion
- Chanticleer
What we learnt from Regal, IGO, Lovisa and APA’s results
Regal is on the lookout for more managers, IGO Ltd does not want to air its dirty laundry, Lovisa blows shorts away and APA reminds us why gas is important.
- Live
- Markets Live
ASX flat; Qantas, Medibank sink, Lovisa surges
Fortescue shares climb. Pilbara Minerals, MinRes slash dividends. Lovisa grows sales. CSR flags takeover bid. Nvidia tops expectations, Nasdaq futures jump. Follow here.
- Opinion
- US election
The real reason Trump wants the White House again
The Republican frontrunner is hoping to cash in on the presidency to mend his business woes, writes Edward Luce.
Breaking news on companies, politics and economics, in your inbox as it happens.
EARNINGS SEASON
Tabcorp blames states for $732m write-down as shares crash
Shares fell more than 14 per cent on Thursday following the release of Tabcorp’s half-year results.
Nine CEO predicts gambling ads will be spared blanket ban
Mike Sneesby says the Albanese government is unlikely to block all online wagering advertising, which would be a $300m hit to TV networks.
Shares in Lovisa, Universal Store jump as dividends rise
The two retailers reported softer like-for-like sales but were bullish in their outlook, boosting returns for shareholders.
Politis cashes in as car sales boom boosts Eagers’ dividends
The country’s largest car dealership said it had a backlog of around 40,000 vehicles ordered by buyers, supporting revenues over the next 12 months.
Fortescue’s first-half profit soars 41pc
Strong iron ore prices have filled the iron ore mining giant’s coffers at a time when clean energy spending is about to rise.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
How David Di Pilla clinched the $8.8b Chemist Warehouse deal
He secured the deal every banker wanted when he found a way to bring the big pharmacy chain to the ASX.
CSR says take no action on $4.3b French buyout bid
Saint-Gobain’s offer is non-binding and indicative, but at $9 a share it is high enough to gain due diligence from CSR’s board.
- Analysis
- Mergers & acquisitions
The junior banks at the top of the big four wishlist
Could Judo Bank or Bank of Queensland be a target for National Australia Bank?
New Woolies CEO Amanda Bardwell’s first job in retail was at 14
An ex-managing director of the Dan Murphy’s liquor superstores is not surprised his former head of online operations is ascending to a much higher role.
Audacious V’landys outlines plan to turn NRL towards Britain, hotels
The NRL chairman has set his sights on expanding to England and turning the league into a major hotel operator – and handed his board a big pay rise
Qantas appoints Mullen to succeed Goyder
The chairman-elect has revived hopes the airline can win back the support of its staff and unions as he prepares to succeed Richard Goyder in the coveted role.
Orica doubles down on gold, eyes battery chemical companies
The company hopes the acquisition of US chemical company Cyanco will create an integrated sodium cyanide manufacturing and distribution network.
Companies in the News
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Markets
Japan’s sharemarket hits record high after 34-year wait
The milestone was powered by foreign investors who are encouraged by the corporate-governance changes and are piling into the country as China’s lure fades.
AI bulls cheer as Nvidia soars after ‘insane’ earnings
Shares in the chipmaker have soared 10 per cent in after hours trading after the chipmaker smashed earnings expectations in the January quarter.
Traders rethink rate path as Fed fears easing too early
The market is implying a total of three US rate cuts this year, down from four last week. The Reserve Bank is expected to start lowering rates in June.
Private equity payouts at major firms plummet
Five major alternative-asset managers delivered more than $55 billion from cashing out private equity bets last year, a 49 per cent drop since 2021.
What happened overnight? Wall Street lower as Nvidia results to test strength of rally
The S&P 500 turns late to edge up. Nvidia reports results after New York’s closing bell. TD sees Fed pivot to rate cuts in May.
Opinion
At 80, Keating keeps throwing down the gauntlet
Not everyone will agree with the former PM on AUKUS. Yet all should agree that a more independent security posture would not be sustainable if Australia continued to squander its opportunity of prosperity.
Editorial
The real reason Trump wants the White House again
The Republican frontrunner is hoping to cash in on the presidency to mend his business woes.
Columnist
Why it’s time for a new financial systems inquiry
It is obvious that the twin-peaks model of financial regulation has had its day. A recalibration is needed.
Contributor
Nickel miners exploit PM’s battery-making pipe dream
Instead of taxpayer bailouts, Australia would be better off letting workers from loss-making mines become home builders to help housing affordability.
Economics editor
Why economist Richard Holden is wrong on energy
Here is our response to Richard Holden’s common misrepresentations and distortions of our carbon solutions levy proposal.
Victorian blackouts cast misinformation over grid reliability
Electricity is so political that a technical fault was spun in erroneous directions by all sides of the renewables debate.
Energy expert
Reports
Top 100 Graduate Employers 2024
This series of articles explores the trends, insights and opportunities in the workplace for both graduates and employers.
Politics
Keep the power to overrule RBA, says former governor
Bernie Fraser urges Jim Chalmers to drop plans to scrap the treasurer’s ability to veto the central bank’s decisions – a power that has never been used.
Confidential big four billing rates accidentally released, again
The bidding prices of the cream of the professional advisory sector have been leaked again, and the federal finance department is in full damage control.
Keating ‘on the money’ on super funds appointing directors
It is a “logical next step” for industry superannuation funds to seek roles on listed company boards, industry experts say, especially in the energy sector.
Langton says Keating was ‘right’ on the Voice
The Indigenous leader said the former PM was right about the Voice being “a mistake from the start” and that a legislated body should have been established before a referendum.
- Exclusive
- Climate policy
Revealed: the challenge facing our top car brands
Almost half the nation’s 20 top-selling vehicle manufacturers will have to make “significant adjustments” if they are going to meet the new vehicle emission standards.
SPONSORED
World
US ports get $30b anti-China upgrade in warning to Australia
The Biden administration has acted to protect ports from Chinese cyber threats. Experts say Australia should consider doing the same.
Indonesia bids to join club of rich liberal countries
Fresh from its election, Indonesia has formally applied to join the 38-country OECD. It’s a boost for the liberal West, but might mean tough domestic reforms.
- Opinion
- US election
The real reason Trump wants the White House again
The Republican frontrunner is hoping to cash in on the presidency to mend his business woes.
- Opinion
- Russia-Ukraine war
Europe must stand on its own two feet on defence
Americans owe it to our European partners to be honest: we want allies, not client states, and our generosity in Ukraine is coming to an end.
- Analysis
- Flexible working
Rising job cuts send chill through remote work world
Staff email warnings and office perks didn’t work. But layoffs targeted at those who work from home, in a cooling job market, are changing the calculus.
Property
Even Sydney’s cheapest houses out of reach for first-home buyers
Aspiring house buyers in Sydney are now priced out even from the cheapest segment of the market after interest rates and home prices rose sharply last year, a new report shows.
‘I love Gold Coast property’: Clive Palmer on $28m beachfront buy
Billionaire mining magnate and former Gold Coast real estate agent Clive Palmer has reset the region’s residential record with a $28 million Mermaid Beach buy.
- Exclusive
- Luxury property
Chinese star to sell $18m landmark Point Piper unit
A luxury apartment owned by a Chinese singer Tian Zhen has joined the prestige market with an $18 million guide.
New sales inquiries up 20pc as rate expectations stabilise: Stockland
The developer and landlord has kept its earnings outlook unchanged even as residential earnings slumped in the six months to December.
Westfield owner Scentre beats guidance with 5.4pc lift in payout
Scentre’s leasing spreads, the difference in rents between old and new agreements, is expected to remain positive even as consumer spending slows.
Wealth
UBS eyes Australia’s richest family offices in latest wealth play
The Swiss wealth manager has welcomed 34 new advisers from Credit Suisse since absorbing its former rival, and its sights are firmly set on family offices.
- Opinion
- SMSFs
Proof that SMSFs outperform when markets tank
SMSFs beat regular funds by 4.1 percentage points in the 2021-22 financial year.
- Opinion
- Super Q&A
How to reduce tax on real estate profits in an SMSF
Carefully consider the tax implications of transferring real estate from an SMSF into your own name.
Technology
- Analysis
- The Breakdown
Nvidia proves it’s the weapons dealer for the AI age
Nvidia’s shares surged in extended trading after its latest results and its next quarter revenue outlook exceeded Wall Street’s already high expectations.
IBM changed history, and then couldn’t keep up with it
A new book, co-authored by the grandson of IBM’s mid-century CEO, sheds light on the unusual family dynamics that shaped the iconic corporation.
WiseTech returns to all-time high after profit beats forecasts
Freight software provider WiseTech has added $3 billion to its market cap after its first-half results beat expectations.
Work & Careers
How to avoid a car crash interview
Woolworths CEO Brad Banducci now has plenty of time to reflect on Monday night’s car crash interview. Here’s what other leaders can learn.
Graduates reap rewards from booming jobs market
Students who graduated in 2019 have benefited hugely from historically low unemployment rates and massive skill shortages across the economy.
Life & Luxury
How to fly to London, Europe and avoid Heathrow
If a stopover en route to London on a palm-fringed white-sand beach island sounds good – not to mention skiing Japan and France – consider these airline choices.
Joe Aston’s guide to surviving Heathrow and London
Landing in London? Our former Rear Window columnist explains what you need to know about the lounges, exiting the airport and where to go once you’re in town.
Five fad diets that won’t work
Instagram and TikTok are fuelling the rise of a new weight loss miracle cure seemingly every week. Here are five you can unfollow immediately.
What men under 50 must do at their next GP visit
If you are male and under 50, next time you see your GP, here’s why you should ask for a blood pressure assessment.
It’s too expensive to build ski lodges in Japan’s powder paradise
Prospects for developers to generate large profits at famed Japanese ski destination Niseko are dwindling as speculation from foreign investors sends land prices soaring.
