Suncorp pushes big premium increase in bid to grow profit margins
The Brisbane-based group says it has not seen an impact on customer numbers from the increased prices.
- Opinion
- Chanticleer
What we learnt from Suncorp, TPG, Endeavour, Liberty Financial’s results
Suncorp’s pre-emptive strike against price-gouging claims, TPG still looking for regional solution, Liberty Financial’s borrowers remain solid and Endeavour’s big reveal.
Superloop rejects Aussie Broadband’s $466m takeover bid
Superloop investors have backed the broadband internet group’s decision to turn down a $466 million approach from rival upstart telco Aussie Broadband.
ASX edges up; TPG sinks 8pc; Alumina shares jump on takeover bid
Shares gain at the close; oil drops; TPG’s profit slumps; CSR enters into a trading halt; Alcoa in $3.3b bid for Alumina; Kogan brings back dividend but sales slips. Follow here for more.
Trump revival would not threaten US green subsidies: Forrest
Andrew Forrest believes America’s $600 billion green energy scheme, the Inflation Reduction Act, would survive a second Donald Trump presidency.
- Opinion
- Chanticleer
Billionaire Greg Goodman not scared to give the market what it wants
On M&A Monday, the deal that caught our eye was Goodman’s decision to set a listed fund free and try to make money as a shareholder.
Four ways the Ukraine war could end
The situation on the front is desperate and has prompted soul-searching among Ukrainians – and their Western allies – about how, if at all, the war can be brought to a close.
Breaking news on companies, politics and economics, in your inbox as it happens.
MONDAY MEDIA
The three billionaires backing Kerry Stokes’ new free newspaper
Dominant in Western Australia, Kerry Stokes wants more of the east coast audience. The Nightly has backing from mining, energy, betting and property giants.
Australian media’s $70m lifeline ends in months. Meta isn’t picking up
Australian newsrooms face a $70 million-a-year hole in operations if Meta walks away from news bargaining code deals that start to expire in three months.
PwC, Qantas journalism boosts Financial Review
Editor-in-chief Michael Stutchbury says there’s no evidence of news fatigue after a strong end to 2023 and record readership in January and February.
Barnaby Joyce to be diagnosed with a sleep disorder on live TV
The former Nationals leader has insomnia and sleep apnoea; plus: former Oz editor Chris Dore’s first target; Tabcorp open to its own free-to-air TV channel.
‘Scandalous’: free-to-air networks lash TV makers for demanding a cut
Whether TV network apps appear on new TVs is an “existential” threat to broadcasters, CEOs told senators. Tech giants are demanding to clip the ticket.
GENDER PAY GAP
- Exclusive
- Gender pay gap
Emma fuels jets for the overtime, but she’s a gender pay gap exception
Traditionally male-dominated industries such as energy and construction have wider gender pay gaps, CEOs admit ahead of the historic release of national gender pay gap data.
10 easy steps to massage your gender pay gap
The labour of solving a problem that is not caused by them, and directly disadvantages them, again falls to women.
- Opinion
- Gender pay gap
The time for empty promises on women’s pay is over
The release of gender pay gap data for individual companies this week has some limitations, but it will still be a historic moment that can be a force for good.
- Opinion
- Gender pay gap
Why directors need to tackle gender pay gaps
They cannot simply ignore the rear-view data or brush it off as another reporting or compliance obligation.
Hours, travel contribute to Bain’s 31pc gender pay gap
Bain, a consulting firm that heavily promotes itself as being an employer of choice for women, has a gender pay gap of 31 per cent, higher than the industry gap of 26 per cent.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Alcoa in $3.3b bid for Australian partner Alumina
The deal would bring a global portfolio of bauxite mines, alumina refineries and aluminium smelters under one roof.
EnergyAustralia lauds ‘marked improvement’ as losses narrow
The electricity retailing and generation giant’s Hong Kong parent, CLP Group, said the company was on “a path to recovery” after several years of major losses.
Westpac to sell RAMS Home Loans, 16 years after saving it from GFC
Morgan Stanley has been appointed to sell what was once an iconic mortgage brand, but is now a small network of around 40 Westpac franchisees.
Dan Murphy’s owner Endeavour off to slower start in second half
Trading at its bottle shops in January softened, pinning hopes on a February turnaround and an outsized performance from Endeavour’s pubs.
McGuigan owner Australian Vintage considers merger with Accolade
The ASX-listed group told investors it was in “exploratory discussions” with the Bain-controlled owner of the Hardys, Banrock Station and Petaluma brands.
CommSec MD Richard Burns quits, CBA exec James Fowle to takeover
The managing director of the country’s largest stockbroker, Commonwealth Bank’s CommSec platform, has told the company that he will resign at the end of June.
Kogan.com brings back dividends, shares jump 22pc
Investors cheer the dividend even as the online retailer said its interim revenue fell as households cut back on spending amid cost-of-living pressures.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Hedge funds sell Magnificent Seven in ‘frothy’ markets
Investors trimmed their positions in the US megacap stocks heading into the new year, while insiders have also been lowering their stakes.
Four ASX stocks up at least 50pc in the past three months
These ASX-listed companies have ridden months-long relief rallies to near-record highs, and some analysts think they may still have further to run.
- Opinion
- Chanticleer
The trade that shows Buffett’s still got it – and his big worry
Warren Buffett’s annual letter to shareholders reveals the details of the trade Charlie Munger called “awfully easy money”. But the Oracle of Omaha is worried about a key part of his empire.
This fundie says Domino’s Pizza is a better bet than the big four
Vertium Asset Management’s Jason Teh has an eye for companies in a turnaround phase – and his gaze is now firmly set on Domino’s and Fisher & Paykel Healthcare.
Buffett admits Berkshire’s days of ‘eye-popping’ gains are over
In his latest letter to shareholders, the legendary investor says there are only a handful of companies capable of moving the needle at Berkshire.
Opinion
The real reason Nikki Haley is still running
The former South Carolina governor is boosting her brand by standing alone against Donald Trump in the Republican Party, writes Edward Luce.
Columnist
University success starts with fixing school performance first
The Universities Accord social equity aspiration depends on students being ready to study at a higher level after year 12.
Editorial
As budget bonanza flows, fiscal caution is the first casualty
The rivers of resources gold coming into the government’s coffers are turning into most expensive marginal seat strategy in the nation’s history.
Economist
Keating’s strategic illusion dies hard
The former prime minister’s timid isolationism, leaving others to do the heavy lifting, has its roots deep in Labor’s history.
Historian
The universities accord is like one giant déjà vu
The report has big ambitions. So did the 2008 Bradley review. They are not too dissimilar in scope and intent.
Education editor
Keating’s quaint defence of Australia doesn’t grasp regional power politics
Labor has put aside two absurd features of the Keating era: a defence policy designed to deal with direct invasion and the diminution of our US alliance.
Columnist
Reports
Thriving in the AI era
This series looks at how businesses can not just survive the AI era but grasp the opportunity of it and thrive.
Sponsored
by SalesforcePolitics
Smaller minimum wage rise needed to fight inflation: business
The Australian Chamber of Commerce and Industry is preparing to argue for a smaller increase in the minimum wage than it was prepared to accept last year.
ATO probes top construction subbie over ‘$180m tax fraud’
The Tax Office is investigating a suspected 15-year scheme that could prove to be the biggest corporate tax fraud in history.
- Exclusive
- Inflation
Wage growth drives inflation, average pay tops $100k
Treasury analysis shows that decade high wages growth that has pushed the average fulltime pay above $100,000 is now the biggest driver of consumer price inflation.
AI auditors let the ATO find millions in unpaid tax and super
Natural language AI models have helped the ATO find hundreds of millions of liabilities and pinpoint organisations that may not be paying employees enough super.
Turnbull wins tender to develop hydroelectricity in NSW
A private company owned by former prime minister Malcolm Turnbull has won a NSW tender to develop hydro schemes in the Hunter Valley.
SPONSORED
World
Netanyahu defiant amid Ramadan attacks warning
Amid signs of progress toward a pause in the fighting, Prime Minister Benjamin Netanyahu said Israeli forces planned to keep pushing into Gaza.
Zelensky says 31,000 troops killed as counteroffensive looms
The tally that President Volodymyr Zelensky revealed differs sharply from that given by US officials, who have said the number is closer to 70,000.
Qatar bets big on LNG despite global price collapse
Doha is betting demand for liquefied natural gas will continue to grow in coming years as it embarks on a new multibillion-dollar project to expand exports.
Call to ban McKinsey from US government contracts for China work
Top Republicans have called for McKinsey to be banned from securing US federal contracts after a think tank led by the firm gave policy recommendations to Beijing.
Why this miner predicts Europe will demand green nickel
Nordic Nickel CEO Todd Ross says an upturn in the cycle is inevitable, and his Finland focus will pay off as the market splits into two markets.
Property
Super funds housing investment ‘not a subsidy’, IFM says
“When we invest in Australian companies that create jobs for Australians, no one says ’What are you doing investing in job-creating companies?” giant fund manager says.
Office values plunge as CBD market bottoms
Major CBD office towers are selling at 20 per cent discounts to their peak value, the best evidence yet that the correction in Australia’s office market is nearing the bottom.
![The deceased estate home with shed on a site comprising three separate titles at 7 Churchill Street in the Ipswich,] Queensland suburb of Churchill sold at auction for $1,050,000.](http://web.archive.org./web/20240226063048/https://static.ffx.io/images/$zoom_0.2303%2C$multiply_3%2C$ratio_1.777778%2C$width_1059%2C$x_211%2C$y_70/t_crop_custom/c_scale%2Cw_140%2Cq_88%2Cf_auto/39b81c2d0643e507235e8a3548ef8011ec64854f)
First home buyers don’t get a look-in as investors swoop
Rate-sensitive aspiring home owners hoped to buy one of three lots put up for sale by one vendor, but they didn’t even get to bid.
Australia needs $115b to fund new housing, Qualitas says
The pick-up in private funding puts pressure on the federal government to clarify rules around inclusion of affordable rental housing in new developments.
House prices rebound in global turning point
Across the 37 industrialised OECD countries, nominal house prices grew 2.1 per cent in the third quarter of 2023.
Wealth
‘Paradigm shift’: How to switch to spending in retirement
After decades spent saving, lean into the fear, plan obsessively and let go of the guilt, experts say.
Wealthy families are trying something new – ditching the secrecy
There’s a new breed of private investment vehicle for the super rich. And they’re less interested in managing money out of view than making more of it.
10 big ideas in the universities shake-up
From doubling the numbers of students to a ‘Robin Hood’ tax on rich institutions: Here are some of the biggest recommendations in the universities accord and what they mean.
Technology
Blackbird tours US hunting for Aussie deals abroad
Blackbird Ventures investment partners have picked up their search for the next Aussie-founded tech unicorns abroad, as bigger local deals dry up.
‘Make peace’: How Microsoft remade its ruthless corporate image
Can Microsoft, on many days the most valuable company in the world, and with a history of squeezing competitors, truly claim to be more evolved than most?
- Exclusive
- Tax disputes
Atlassian pays $92m tax bill after years of ATO talks
The software developer has struck a transfer pricing agreement with the Tax Office and has agreed to retain intellectual property in Australia that it will pay future tax on.
Work & Careers
- Opinion
- Workplace
The rising menace of absurd job titles
From “global general counsel” to “chief growth officer”, terrible epithets confuse and infuriate, but they are also increasing.
Hours, travel contribute to Bain’s 31pc gender pay gap
Bain, a consulting firm that heavily promotes itself as being an employer of choice for women, has a gender pay gap of 31 per cent, higher than the industry gap of 26 per cent.
Life & Luxury
The least amount of exercise you can get away with
What’s the solution if you don’t have time for exercise or find it boring?
- Opinion
- Digital Life
Why this new Samsung phone can help you be your best self
Samsung’s latest Galaxy S Ultra maintains its position as the most useful phone you can buy. So what if sometimes it gives you more than you bargained for?
- Drinks With Max Allen
- Wine & spirits
Wine history comes alive in this definitive magnum opus
For this author, Australia’s wine history is personal – so he wrote a lavishly illustrated, three-volume work on it that’s just come out in paperback.
Sales about to spike for gas-guzzling utes, hybrids under gun
Two big ASX-listed car dealership groups are worried about proposed emissions standards, as the FCAI warns most hybrid vehicles will be hit hard.
The truth about the new 30:30:30 diet
Viral diets have a nasty tendency to combine two of my least favourite things: deprivation and maths.
