- Exclusive
- Australian economy
Weak consumer spending won’t stop price rises
Chief executives say tepid consumer spending on discretionary items such as sporting equipment and liquor won’t stop companies pushing through further price increases for internet plans, insurance and other staples.
- Live
- Markets Live
ASX hits record high; Life360 soars 30pc, Star shines
Shares add 0.1pc; Life360 hits 61.4m users, Star bounces, lithium miners rebound, Wall St gains, bond yields ease on US inflation data. Bitcoin tops $US61,000. Follow here.
- Opinion
- Chanticleer
What I learnt from 27 CEOS in 29 days
Profit season is like a magical mystery tour of the economy, revealing pain, profits and potential. Here’s what we learnt from speaking with 27 top CEOs.
- Live
- Need to Know
M6 tunnel workers evacuated after building partially collapses
The workers evacuated the site because of falling material linked to a sinkhole under a nearby building; Meta confirms it will not strike new deals with news companies. Follow updates here.
‘Don’t they get it?’: Putin warns West of nuclear war risk
Vladimir Putin has vowed to complete his invasion of Ukraine and says Russia could use nuclear weapons if the West sent in troops.
Greg Coffey in talks to create $20b hedge fund firm
The Australian executive’s moves to acquire emerging-markets focused Emso Asset Management comes as investment groups seek scale amid eroding margins.
Traders bet on June rate cut as US inflation slows
Investors raised bets the US Federal Reserve will kick off its first interest rate cut mid-year amid further evidence inflation in the world’s biggest economy is cooling.
Breaking news on companies, politics and economics, in your inbox as it happens.
Edition
AFR Magazine – innovation issue
How the $8.8b Chemist Warehouse deal was done | Crypto investor reveals his rare car collection | Why a Rolex is about to get easier to buy
review
The CIA’s secret mission to help Ukraine defeat Putin
Once seen as thoroughly compromised by Russia, Ukraine’s intelligence agencies have been turned by US spies into deadly weapons against the Kremlin.
- Opinion
- Psychology
Is your colleague a sociopath?
Also known as “dark triad” personalities, these manipulative narcissists are indifferent to people’s feelings.
- Analysis
- Byelection
The Dunkley byelection could make history
Byelections are important, but it’s mainly marketing with little policy content in the race for Dunkley.
- Exclusive
- Liberal Party
What Scott Morrison does next
Unable to find a job in Australia, the former prime minister has joined a large engineering company in Dubai. He is also working in venture capital.
In China a poor social score affects where you can sleep, dine or live
The social credit system is designed to be a huge network of control covering businesses and government agencies as well as individuals.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
BHP puts former NAB boss Ross McEwan into chairman race
The miner’s current chair, Ken MacKenzie, is in his seventh year in the position, with the company observing an informal policy of limiting terms to nine years.
- Updated
- Media & marketing
Southern Cross’ big shareholders in push to oust board and executives
Chairman Rob Murray has defended his side’s handling of a takeover offer from rival ARN Media, and says ARN is not sharing critical information.
PAC Capital name to be taken off funds, stay on building
Clayton Larcombe’s controversial funds management business is distancing itself from its own name following negative publicity.
Ramsay warns of hospital closures as costs blow out
The country’s largest private hospital group said at least 16 rival facilities had shut in the last year and called for more funding from health insurers.
Harvey Norman sales crunched but retailer bullish on outlook
Revenue in Australia has begun to rise as renovations and home building increases, the country’s largest whitegoods and furniture retailer said.
BlueScope considers tilt at South32 mines to pre-empt $2.5b sale
The move could reunite the Illawarra coal mining and steel assets that were once owned by BHP. South32 has agreed to sell the mines to an Indonesian group.
‘Radio silence, on hold for hours’: How insurers treat their watchdog
Justin Untersteiner helps run the Australian Financial Complaints Authority. But that didn’t stop him getting “radio silence for months” and being kept “generally on hold for 2½ hours” when he tried to claim.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Ray Dalio says magnificent seven are ‘fairly priced’
While some of Bridgewater’s readings look frothy, “we do not see bubbly conditions in aggregate”, the billionaire hedge fund founder said.
What happened overnight? Nasdaq Composite closes at record high as techs rally
US shares were mostly higher, paced by tech, after a key Fed inflation metric met expectations, bolstering rate pivot hopes.
Fed’s preferred inflation metric increases by most in a year
The core PCE data, on a six-month annualised basis, registered at 2.5 per cent in January, rebounding above the Fed’s 2 per cent target.
Regal assets climb as hedge funds take on ETFs
Retail investor interest in Australian hedge funds has dwindled to 10-year lows, as measured by assets, but Regal and Tribeca are seeing the opposite
Bitcoin soars to $A record ahead of supply crunch
“It’s a demand, demand, demand story,” the CEO of Digital X said of the world’s largest cryptocurrency, which broke through $96,000 in Australian dollar terms.
Opinion
Philippines partners Australia on peace, stability and success in Asia
President Marcos’s speech is in keeping with the tightening network of Asian nations who are keen to keep the US engaged and are suspicious of Beijing’s intentions.
Editorial
Voters tuned out by Voice harder to fix than first thought
Should Labor suffer a large swing against it, or worse in Dunkley, it will be a serious setback. Equally, Peter Dutton needs a win in Victoria.
Political editor
The world war for talent
As myopic states take more and more from their most successful citizens, others aspire to attract the best and brightest in a quest for intellectual edge.
Columnist
How Australia can avoid predictable ASEAN pitfalls
South-East Asia will happily talk to us about stability and trade, but ignore us if we are only interested in pushing values and rivalries.
Columnist
Three reasons the green energy transition will be non-inflationary
Renewable technologies will get cheaper, price spikes from retiring coal plants will be avoided and exposure to volatile fossil fuel markets will be reduced.
Dunkley byelection is about nothing but politics
A lot will be read into the implications of Saturday’s poll because it’s essentially a purely political horse race short on substantial policy ambition.
Editorial
Reports
Wealth: Turbocharging your retirement
This series of articles looks at the options for retirement income, the best asset mix heading into retirement, and what you need to know to retire overseas.
Sponsored
by Australian Retirement TrustPolitics
- Updated
- Foreign relations
‘We won’t yield’: Marcos’ extraordinary speech to parliament
Philippines President Ferdinand Marcos jnr used incredibly frank language for a South-East Asian leader not heard before in Australia’s parliament.
Chalmers flags pre-election budget pivot from inflation to growth
Treasurer Jim Chalmers has begun laying the groundwork for increased spending closer to the next federal election.
‘We’ve gone soft’: Labor old guard backs Keating
Chairman Tony Shepherd has backed Paul Keating’s sentiment that “we have gone soft” but billionaire Gerry Harvey says Keating is living in the past.
Australia can launch a new trade boom with China, Farrell says
The trade minister says that with feuds on wine and lobster exports potentially soon sorted, Australia could aim to stack on another $100 billion in trade.
- Exclusive
- Carbon challenge
Debelle rings alarm on green energy backlash
The former top RBA official says green energy critics wilfully ignore the need to replace rusting fossil fuel assets regardless of any carbon goals.
SPONSORED
World
100 dead in Gaza aid chaos, Israeli troops accused of firing on crowds
Health authorities said more than 100 Palestinians were shot dead as they waited for an aid delivery, but Israel said they were run over by aid trucks.
Biden calls Chinese EVs a national security threat
A Commerce Department investigation is the first of a range of policy responses to stop low-cost Chinese electric vehicles from flooding into the US.
‘Don’t they get it?’: Putin warns West of nuclear war risk
Vladimir Putin has vowed to complete his invasion of Ukraine and says Russia could use nuclear weapons if the West sent in troops.
New China spying law sparks foreign investor fears
The legal change, which could further limit access to information, is part of an increasingly hostile environment facing foreign businesses in the country.
Winklevoss twins’ crypto firm Gemini to return $1.7b to customers
Cryptocurrency exchange Gemini has agreed to return the money to customers of its defunct lending program as part of a settlement with authorities.
Property
House price growth gathers speed as sentiment improves
Home values re-accelerated in February bolstered by increasing optimism about potential interest rate cuts later this year amid falling inflation.
Cromwell pins hopes on $500m Polish malls sale to curb debt worries
The Brisbane property fund manager’s gearing level is close to 45 per cent, well past its target range, as devaluations hit its balance sheet.
How worried should you be about commercial real estate?
Strains are surfacing four years after the pandemic. Valuations take a long time to adjust to shifts in demand, mortgages can take years to mature.
Melbourne estate hits the market for $49m
More than a hectare of inner Melbourne is on offer, with the historic estate re-entering the market alongside a neighbouring property for $48.8 million.
$500m raising to turn unloved hotels, offices into rental housing
Fund manager and hotel developer Pro-Invest Group is in the midst of an equity raising to fund the development of 10 co-living apartment towers with 2000 units.
Wealth
- Exclusive
- Pubs
Jon Adgemis in financial dispute over his grandmother’s estate
The businessman’s Public Hospitality Group has been struggling with cash flow problems and is saddled with high debts.
‘Investments of passion’: Why I spent $15,000 on wine in three years
Tim Baker was bitten by the wine bug in France.
- Opinion
- Super Q&A
How much cash can my parents pump into superannuation?
This strategy could allow a couple to contribute $940,000 to super.
Technology
‘Keeps me up at night’: How Australia’s government sees hacker threat
Home affairs Minister Clare O’Neil has warned of a growing threat of cyber sabotage to Australian power, telecommunications, health and water infrastructure.
- Exclusive
- AI
Labor minister says AI may be ‘humanity’s last invention’
Andrew Leigh’s concerns about the threat to people from computers adds to momentum to introduce restrictions on artificial intelligence.
Former Blockchain Global director barred from leaving country
Liang “Allan” Guo is being investigated by the corporate regulator over claims that he used money from the collapsed cryptocurrency group to pay his mortgage.
Work & Careers
What one of Australia’s top bankers thinks about the pay gap
Jarden co-chief executive Sarah Rennie discusses taking the plunge on a start-up and why investment banking is becoming more female-friendly.
CFMEU and Hutchinson overturn $1.35m fines
The CFMEU has wiped out a $750,000 fine after the court held a builder kicking a non-union contractor off site was simply a commercial decision to avoid strikes.
Life & Luxury
Why death metal is feel-good music
Can some forms of music actually be bad you? That’s what Plato thought in 4th-century BC, and it has been a cause for moral panic ever since.
‘Landmark’ research links processed food with 32 ways to die
Experts say a review of the link between ultra-processed foods and health shows governments should step in with restrictions akin to those on tobacco.
This opera turns the orchestra pit into a lake
Robert Lepage’s production of Stravinsky’s “Nightingale” for Adelaide Festival throws the singers into the deep end, literally.
Deep-sea robot finds walking fish among 100 new species
The discovery off the coast of Chile has intensified calls to protect submarine mountains in international waters.
From TISM to Ben Elton, seven shows you must see in March
Your downtime won’t be a letdown with our guide to some of the best shows happening around the nation this month.
