- Analysis
- Political leadership
The battle for middle Australia: why Dunkley is a crucial test
Its closeness to the next federal election, the way it came about, and demographics mean the byelection is set to be the most important in years - and the most hard fought.
Meta refuses to pay for news, setting up war with publishers
Prime Minister Anthony Albanese blasted as “not the Australian way” Facebook owner Meta’s announcement it would stop paying news publishers.
The apartment trap: why a unit may no longer get you a house
The accepted wisdom that an apartment is a stepping stone to buying a house is being called into question as the gap between unit and house prices hits a record high.
ASX hits record high; Dubber says up to $26.6m missing, stock halted
Shares add 0.5pc. NAB’s McEwan to join BHP. Life360 hits 61.4m users. Govt names green bond banks. Wall St gains, bond yields ease on US inflation data. Bitcoin jumps. Follow here.
Mortgage stress rates hit fastest pace in at least two years
Some non-bank lenders say they are allocating more investor loans, where delinquencies are lower, into their residential mortgage-backed securities issues.
- Opinion
- Chanticleer
What it’s really like inside a fund manager’s morning meeting
Chanticleer was given a rare look inside the morning meeting of Yarra Capital Management’s equity team. Here are four big themes that emerged.
- Opinion
- Income tax
Talented people make nations pay for high taxes
The best and brightest minds globally are fleeing high-tax regimes for jurisdictions offering financial incentives, writes Christopher Joye.
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
- Updated
- Earnings season
Life360 shares surge almost 40pc as it unveils advertising strategy
The ASX-listed, San Francisco-based family tracking app provider reported higher revenues and said it would monetise its significant user base.
Platinum punished by big tech stocks, but cost controls push up shares
New chief executive Jeff Peters says all options are on the table to fix the battling group that has failed to match the returns of a surging market.
Buy now, pay later is pulling off the improbable – a comeback
Block and Zip valuations are rising as peak interest rates pass. Klarna is considering listing in the United States. Is the sector’s winter finally over?
Mortgage stress rates hit fastest pace in at least two years
Some non-bank lenders say they are allocating more investor loans, where delinquencies are lower, into their residential mortgage-backed securities issues.
- 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.
Australia Post CEO faces political backlash over closures
Chief executive Paul Graham warned that despite the first “green shoots” of last year’s postal shake-up, more branches needed to shut to avoid future losses.
- 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.
Companies in the News
Search companies
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Markets
ASX charts wildest ever earnings season as traders scramble
The sharemarket might have ended February largely where it began, but beneath the hood, short sellers and asset allocators were scrambling to shift money.
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.
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.
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
Dutton’s Dunkley plan is crime and utes, not cost of living
The opposition wants to talk about everything except the hip-pocket pain that voters are most exercised about.
Columnist
Talented people make nations pay for high taxes
The best and brightest minds globally are fleeing high-tax regimes for jurisdictions offering financial incentives.
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.
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.
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by Australian Retirement TrustPolitics
Rod Sims says Meta showing ‘disdain’ for parliament
The former ACCC chairman slams Meta’s decision not to strike new deals with Australian media; Labor Senator Linda White has died after a short illness. Here’s how the day unfolded.
PM backs spy chief’s refusal to name turncoat ex-MP
Anthony Albanese retains confidence in ASIO boss Mike Burgess, who is under pressure to reveal the identity of a former politician cultivated by foreign spies.
- 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.
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World
Israeli forces ‘fire on Gaza crowds’ in deadly aid stampede
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.
How immigration turned into a political nightmare for Biden
More than 9 million illegal immigrants have crossed the border since Biden took office. With polls showing more voters trust Trump on immigration, the president is under the hammer.
China home sales slide despite support from regulators
The property downturn remains a headwind for China’s economy, ratcheting up pressure on developers that are struggling to repay debts and complete projects.
Gates, Fink, Zuckerberg set to party with Asia’s richest man
The lavish pre-wedding celebrations for Mukesh Ambani’s son include chartered jets and a performance by Rihanna. Wall Street and Silicon Valley titans are coming.
Out of ideas in China: Xi tinkers as economy stagnates
Ideology will overshadow China’s economic realities at next week’s gathering which Xi Jinping will chair, even though the economy hasn’t bounced back since COVID and needs more help.
Property
- Exclusive
- Luxury property
Stock picker, horse breeder spend big on trophy homes
Perpetual’s Anthony Aboud and wife Aleesha have paid $18 million for a contemporary Woollahra home, not far from the new digs of Newgate Stud’s Henry and Louise Field.
‘The cost of doing business’: A building sector at boiling point
After a series of alleged large-scale tax fraud in the construction sector, subcontractors in the building industry fear they can no longer compete as firms underquote.
- Exclusive
- Luxury property
Royale treatment for interior designer’s $16m home
Tanya Johnston, the interior designer daughter of Royale Construction boss Peter, has listed her Hawthorn home in Melbourne’s east for about $16 million.
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.
Wealth
‘Investments of passion’: Why I spent $15,000 on wine in three years
Tim Baker was bitten by the wine bug in France.
- 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.
- 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
Did Apple just ditch its biggest ever Watch upgrade?
The world’s most popular watch manufacturer had been expected to make a huge overhaul to its Watch Ultra in 2024 or 2025.
‘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.
Work & Careers
Have we just laid out a plan to kill the traditional university?
The universities accord says that the number of university students needs to double by 2050. That raises the question of what we actually want from our universities.
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.
Life & Luxury
AFL inclusion boss says Paul Keating was wrong on the Voice
Eight years into her role, and still recovering from the amputation of her lower right leg last year, Tanya Hosch keeps pushing on in a job where there is no finish line.
Surrealist arm candy and Lululemon trainers: What to buy this week
Whether it’s fitness, glamour or time out you’re after, we have inspired suggestions for you.
Show-stoppers, lots of sparkle and green dials: what’s new in watches
The year’s timepiece trends are already coming into focus and signs are if it’s not green, it’s got to have sheen.
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.
Hitchcockian Iranian thriller works wonders within strictures
‘Subtraction’ is a thriller, a mystery, a low-level horror movie quite unlike anything else from this nation of talented filmmakers.
