Bonuses, overtime drive 19pc gender pay gap
The median pay gap at businesses with 100-plus employees has been revealed for the first time and professional services and banks recorded some of the worst disparities.
Investment banking boys’ club gender pay gaps near 50pc
The biggest gender pay gaps in Australian workplaces are not found on construction sites or down mines but behind trading screens in state-of-the-art office towers.
Family of accused in alleged $180m tax fraud boasts $40m in property
The alleged “controlling mind” of what could be the country’s biggest tax fraud splashed cash on a luxury four-bedroom penthouse boasting Sydney harbour views.
French group Saint-Gobain wins over CSR board in $4.3b takeover
The CSR board is backing the $9 per share offer from the French group, which said it would explore options for CSR’s 25 per cent stake in the Tomago aluminium smelter.
- Opinion
- Chanticleer
CSR’s patient rebuild leads to a French revolution
Julie Coates restructured the company’s operations and rebuilt its supply chain. The lift in margins those moves created helped seal a big takeover deal.
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.
- Opinion
- Chanticleer
‘Betraying the bush’: Andrew Forrest lashes green energy go-slow
The billionaire appears to sense momentum around climate policy is being eroded by the cost-of-living crisis and some good old-fashioned wedge politics.
- Driving With Tony Davis
- Motoring
Who’s who on the grid for this year’s F1 season
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
Corrs lags top law firms on gender pay gap
Firms with a higher proportion of women partners tended to have a smaller median pay gap among staff, new data from WGEA shows.
Full list: the gender pay gaps at Australia’s top 250 companies
The Australian Financial Review has dug through calculations of pay disparity at more than 5000 companies to zero in on the ASX200 and the largest private firms.
Oil, gas giants claim highest pay gaps in resources industry
More men working offshore and at remote mines in roles that attract away-from-home allowances and higher pay, fuel the mining industry’s highest pay gaps.
IPO hopeful Rokt has largest gender pay gap of tech unicorns
Male-dominated software engineering and sales teams have worsened the pay divide across the local technology sector.
- 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.
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.
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.
Tamboran records better-than-expected fracking results at Beetaloo
The latest well drilled in the basin has proved the resource is commercial, with initial gas supplies targeted for NT buyers in early 2026, the company said.
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.
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Markets
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.
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.
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.
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
Reality check for critical minerals, and for Canberra
Australia’s critical minerals ambitions have hit the ground as prices collapse. As nickel and lithium miners head to Canberra seeking help, the Albanese government is trying to figure out what, if anything, it should do.
Columnist
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
Gender pay transparency without action is diagnosis without treatment
The gender pay gap is built on complex social and economic bedrock. The time has come for a clear, strategic plan detailing how businesses intend to end the disparity.
Dorothy Hisgrove is KPMG's national managing partner – people and inclusion
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
The political failure of Bidenomics
Joe Biden has delivered in spades for ordinary American workers. But it is not enough to get past the gulf that separates them from educated Democrat elites.
Contributor
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
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.
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by SalesforcePolitics
Coalition selling false hope with nuclear power ‘bulldust’: Forrest
The Fortescue chief says advocating nuclear power is a ploy by the fossil fuel industry to delay for decades the required shift to clean energy.
Berejiklian’s relationship with MP ‘not a conflict of interest’
Lawyers representing former NSW premier Gladys Berejiklian argue she never acted out of a desire to advance her relationship as she appeals an ICAC corruption finding.
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.
Scramble to set up camp ahead of extreme fire danger
The Wimmera region is slated to have catastrophic fire danger on Wednesday, while extreme fire danger is predicted for five of Victoria’s nine weather districts.
Silos, sugarcoating and second guesses: Insiders on Defence’s problems
Defence officials are inclined to put a positive spin on issues at odds with reality, according to defence insiders.
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World
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.
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.
- Opinion
- Entrepreneur
Japan’s new entrepreneurs could save its economy
Today, talented young adults are more willing to risk leaving a big company, and good firms are more willing to make mid-career hires.
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.
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.
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.
![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 $1,050,000.](http://web.archive.org./web/20240226131930/https://static.ffx.io/images/$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.
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.
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
Atlassian paid $284m tax before ATO deal
Over the past six years Atlassian’s Australian entity paid $283.8 million of tax locally before reaching an agreement to pay more tax.
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?
Work & Careers
Diversity advocates McKinsey, BCG, Bain land pay gaps over 30pc
Strategy firms that advise clients to increase the diversity of their workforces and leadership teams have gender pay gaps that are up to double the national gap.
- Exclusive
- University
Unis that would pay the most – and the least – under ‘envy tax’ plan
Just six of the country’s 41 universities would bankroll half of the annual contributions to the higher education future fund proposed in the Albanese government’s universities accord.
Life & Luxury
New player in market set to spark fare wars to Europe
Turkish Airlines will start flying direct into Melbourne (via Singapore) two weeks sooner than previously announced - igniting consumer hopes of better prices.
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?
Why are men still expected to wear ties?
Once considered a necessity, ties are being cast off in favour of a more casual workplace. But can you really get away with ditching them?
- 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.
- Driving With Tony Davis
- Motoring
Who’s who on the grid for this year’s F1 season
The 2024 Formula 1 season will be the busiest ever. Here’s our guide to the teams and drivers – and their chances of success.
