‘Wealth tax’, funding overhaul proposed in university shake-up
A major review of higher education has recommended a return to demand-driven funding to get more poor students into university; a $10 billion infrastructure fund; an independent tertiary education commission; and bonuses paid based on graduation.
Why it’s a dangerous time to make a big profit in Australia
Where once a strong result would be cause for celebration, today chief executives must walk a minefield of customer outrage, political indignation and investor agitation.
Six years in a leaky boat: the plan to fix an ailing navy
Defence is betting that smaller ‘drone’ ships and plenty of missiles will be enough in a fast-changing world of remote-controlled warfare.
Nikki Haley’s do-or-die battle in South Carolina
The presidential hopeful is not giving up her battle with Donald Trump for the Republican nomination, but the outcome of her home-state primary may force her to.
‘Stick to your guns’: inside the fall of a Young Rich List waste king
An afternoon coffee and a desperate string of WhatsApp messages helped seal the fate of Daniel Tartak and deliver a $30 million fine to waste giant Bingo.
Nick Molnar backs Block’s bid to reshape US banking
The billionaire Afterpay co-founder Nick Molnar tells AFR Weekend he’s been working with Jack Dorsey on Cash App, and they’re ready to tackle US banks.
In Ukraine, ruthless Putin smells weakness
Two years into the war and fending off Russia is getting much harder for an army with an average age in the 40s. It needs help.
Breaking news on companies, politics and economics, in your inbox as it happens.
Series
Highflyer launch issue
Discover what the 1 per cent get up the front of the plane | The best airlines to fly to the US and Europe | How to pack like a flight attendant
SMART INVESTOR
- Opinion
- Bonds
Macquarie secures record demand for bonds
Investors are retreating from illiquid assets in favour of high-yielding bank bonds.
We’ve spent $40,000 on IVF. I want to continue, but my partner wants to stop
No one’s doing fertility treatment because they want it, says psychologist Narelle Dickinson, so make time for compassionate conversations and be honest.
How high earners can claw back lost stage three tax cuts
Experts explain how to reclaim lost stage three tax cuts via extra superannuation contributions.
- 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.
- Opinion
- SMSFs
Proof that SMSFs outperform when markets tank
SMSFs beat regular funds by 4.1 percentage points in the 2021-22 financial year.
WEEKEND READS
- Analysis
- Income tax
Divorce, trusts and negative gearing: the price of high taxes
High tax-paying families are increasingly exploring extreme strategies – including divorce – to make it easier to qualify for subsidies and benefits, writes John Kehoe.
The women who could be Trump’s vice president
There are five key Republican women in line to run with the former president. Most of them fully embrace his political views.
- Exclusive
- Cars
Meet Oscar Piastri, the calmest driver in Formula 1
On the eve of his second F1 season driving for McLaren, the 22-year-old Melburnian talks about luck, fear and “being good at chilling out”.
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.
Medibank shares fall on disappointing policy growth guidance
Citi analyst Nigel Pittaway said the result was a “slight disappointment” as growth rates moderate across private health.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Philip Crawford is on a one-man crusade against Star Entertainment
Depending on who is asked, the corporate lawyer turned casino regulator is either keeping the bastards honest – or hounding them out of business.
Nvidia’s AI-fuelled rocket ship draws acclaim and doubters
The explosive growth of Nvidia dates back to a Steve Jobs-like visionary decision but investors are betting on how long its dominance of the AI market can last.
Optus outage cost $61m parent Singtel reveals
Optus’ national phone and internet outage in late 2023 and currency fluctuations have been blamed for falling profits at the telecommunications group.
Japan raises bet on Scarborough LNG to $3.5b
The latest deal by JERA means Woodside has now locked in four powerful Japanese investors as partners for its controversial $16.5 billion gas project.
Brambles signals golden times over as CHEP rivals step up
CEO Graham Chipchase says an unwind of pallet hoarding by retailers has occurred faster than expected, as rivals move to pick off some of its business.
Lithium aspirant Vulcan hopeful of $825m European loan
The financial backing of a public agency could help create a level playing field for European lithium with its US and Chinese rivals, Vulcan’s boss says.
Inside Snowy 2.0: getting a $12b mega-project back on track
The Florence tunnel boring machine will need to pick up the pace to 12-15 metres a day to stay on target as the scheme pursues Australia’s renewables dream.
Companies in the News
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Markets
‘Complacent’ iron ore market vulnerable to lithium-style crash
Iron ore prices are not factoring in a wave of new supply, leaving the commodity vulnerable to the same collapse that smashed battery metals, Yarra warns.
Nvidia reaches $US2 trillion mark, S&P 500 tops 5100
US shares ended mixed after a choppy session which saw early gains fade. Goldman, Capital Economics now see June, not May, as start for rate cuts.
AI boom lifts shares; Afterpay-owner Block, Aussie Broadband jump
AI boom lifts tech stocks. NAB calls inflation to rise in January. Block, Aussie Broadband, Jumbo Interactive shares jump. Nvidia surges 16pc, tops Amazon, Alphabet valuations. Follow here.
Nvidia surges 16.4pc, sparking global AI-inspired rally
On Wall Street, the S&P 500 and tech-heavy Nasdaq Index both closed at record highs.
UBS elevates two local bankers to global MD class
The Swiss bank promoted Greg Peirce to co-head of APAC global banking, while capital markets veteran Paul Neumann and David Rabinowitz got MD gongs.
Opinion
The sad reality is that Ukraine is outgunned and outmanned
Strategic analysts were adamant either that Ukraine would fall or Russia would buckle. Two years later, neither has happened.
International editor
As Ukraine’s stocks fall, stakes get higher
Two years after Vladimir Putin’s brutal invasion began, it’s not just about whether Ukraine can avoid defeat but whether Europe can defend itself
Editorial
What’s Plan B if America never goes back to normal?
Paul Keating has once again asked whether the US alliance shapes Australia’s view of the world more than it should.
International relations expert
Nickel crashes green superpower picture of El Dorado
Whatever the government comes up with to shore up the WA nickel industry, it will be a sobering day when Australia’s golden goose needs a subsidy to stay competitive.
Political editor
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
Bold navy plan needs backing with hard cash
Australia reaped a resources bonanza from China’s rise as the workshop to the world. Now some of that needs to be redirected as a national security insurance premium.
Editorial
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
4WDs to be phased out quicker than utes under clean car plan
Heavy diesel four-wheel drives face a quicker path to extinction than utes under the government’s new vehicle emissions standards.
Woolworths price-gouging claims overblown: retail investor group
The Australian Shareholders’ Association defended outgoing chief executive Brad Banducci and the company’s pricing model.
‘We’re not the Soviet Union’: PM rules out breaking up Coles, Woolies
The supermarket giants look set to face fines and civil action under competition watchdog recommendations, but Anthony Albanese rules out divestiture.
Labor hyper-bowl misses the mark in Dunkley dust-up
Liberal candidate for Dunkley Nathan Conroy has come under fire for saying he ran a multimillion-dollar company at the age of 24. It was a bowls club.
- Exclusive
- Business of sport
Australia in the box seat to host the 2026 women’s Asian Cup
With money flowing into women’s soccer, registrations up and the Matildas on a roll, it would be the icing on the cake.
SPONSORED
World
US imposes major new sanctions on Russia after Navalny’s death
The Biden administration is targeting Russia’s financial sector and military-industrial complex in a broad effort to degrade the Kremlin’s war machine.
Netanyahu pushes for indefinite military control over Gaza
Prime Minister Benjamin Netanyahu’s most detailed postwar vision would likely accelerate a clash between Israel and a growing number of its foreign partners.
First private spacecraft lands on the moon
A successful touchdown by Intuitive Machines’ lunar lander heralds a more commercial era for space exploration.
‘Missile stockpiles’: Houthis set for new phase in Red Sea attacks
The Iran-backed group has dug tunnels and trenches into cliffs overlooking the Red Sea as it prepares for a lengthy confrontation targeted at the United States.
Australia’s fund managers use new tactics to support Ukraine
The public are still supportive, but as the war enters a third year, new tactics are needed to ward off the risk of donor fatigue or political distraction.
Property
- Exclusive
- Luxury property
Point Piper family to sell $65m harbour-view mansion
Retail Apparel Group co-founder Stephen Leibowitz and his wife Pam have listed their Wolseley Road home of two decades before a Double Bay move.
- Exclusive
- Working from home
AirTrunk’s new HQ and the secret to keeping staff
AirTrunk has opened its new global headquarters without an office mandate, confident its company culture – and workplace design – will be persuasive enough.
Lifestyle Communities to raise $275m for ‘land lease’ model
An emerging housing option, land lease communities are typically aimed at budget retirees. Residents buy a pre-fabricated home from the housing estate operator then pay a ground rent for their site.
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.
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.
How high earners can claw back lost stage three tax cuts
Experts explain how to reclaim lost stage three tax cuts via extra superannuation contributions.
The amount of low-tax money you can put into super is about to jump
Workers will be able to pump more money taxed at low rates into superannuation after strong wages growth triggered the first increase in contribution limits in three years.
Technology
Former Aquamamma CEO says investors should have read fine print
Emma Gibson, the wellness start-up’s co-founder and a former Rich Lister, says backers should have known she had not verified the figures she was pitching.
- 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.
Nvidia’s AI-fuelled rocket ship draws acclaim and doubters
The explosive growth of Nvidia dates back to a Steve Jobs-like visionary decision but investors are betting on how long its dominance of the AI market can last.
Work & Careers
WFH ban uncaring but ‘not unreasonable’: ruling
The Fair Work Commission has rejected that a pregnant manager was forced to resign because her boss refused to let her work from home one day a week.
The group saying no to uni: white, male, and would rather be a tradie
The Albanese government wants to get more kids into universities, but a new study on apprentices shows there is a clear cohort with no interest in a degree.
Life & Luxury
Here’s how to lie flat for less on your next international flight
More frequent flyers are opting for business class on low-cost airlines – slashing their flight costs while enjoying a premium service.
This booze-free spritz is one of Max Allen’s top summer drinks
Brands are no longer trying to recreate the real thing with less alcohol. The newest no-lo options have flavours all of their own.
When in Kyoto, here’s how to avoid the tourist hordes
There are pockets of pure serenity to be found in Japan’s ancient capital, starting with a stay at this recently opened five-star hotel.
Why Broadway’s glut is good for musicals
This year, more than half of Broadway’s annual output of shows will open in March or April. Critic Jesse Green welcomes the rush – sort of.
Spoil yourself: This week’s edit of lovely little luxuries
In need of a pick-me-up? Check out this eclectic but beguiling range of new goodies to buy.
