PM pledges $2b green energy investment fund for SE Asia
The federal government will establish a $2 billion finance facility to help fund green energy and infrastructure investment in South-East Asia, to tap into spiralling demand for renewable power.
- Exclusive
- Political lobbying
Meta flew in top reputation fixer ahead of news bombshell
The tech giants have amassed an army of lobbyists to deal with fights on news and tax. These are the fixers pounding Canberra’s corridors of power.
- Opinion
- Chanticleer
Downer’s stoush with KPMG a big test for corporate Australia
Cosy relationships between big four audit firms and directors have greased corporate Australia’s wheels for decades. Now they are coming under pressure.
- Analysis
- Israeli-Palestinian conflict
Why Biden must get even tougher with Netanyahu
The US president should use the UN Security Council to create facts in international law, forcing Israel to scale back its campaign in Gaza and its settlement of the West Bank.
Scyne goes to court to stop partner working at Downer EDI
The PwC spin-off has made a legal bid to stop former partner Connie Heaney moving to services contractor Downer EDI.
Mortgage wars yet to stop CBA shares from marching ahead
Commonwealth Bank hits a new high on the ASX even as 15 analysts covering the stock rate it a “sell” and say it is the most overvalued big bank on the exchange.
- Analysis
- ASEAN
The first day of this summit exposes the gulf at ASEAN
The first day of the ASEAN-Australia summit offered a classic illustration of the existing gulf in regional diplomatic cultures and approaches, writes James Curran.
Breaking news on companies, politics and economics, in your inbox as it happens.
MONDAY MEDIA
- Exclusive
- Media & marketing
Inside Facebook’s secret media deals
Confidential until now, details of two agreements struck by Meta for news provide a glimpse into what the social media giant gained for its funding.
- Opinion
- Media bargaining code
The time has come for parliament to fire its cannon – at Meta
The owner of Facebook is an unavoidable partner for many businesses. Our response to their refusal to pay for news will be watched closely around the world, writes Michael Miller.
Labor moves to force Meta news payments
The Facebook owner’s decision to stop paying Australian publishers would cost about $70 million a year and end dozens of jobs once existing contracts expire this year.
Kylie Minogue, Jimmy Barnes’ record label wants more money from radio
Mushroom Group pays $14 million a year to promote Aussie artists, but that is steadily falling as streaming and social media change the music industry.
The Australian considers moving with The Times in new radio play
A proposal to expand The Australian’s daily podcast The Front is going upstairs at News Corp; Barrenjoey’s two-sided Southern Cross deals.
ASEAN SUMMIT
- Analysis
- ASEAN
The first day of this summit exposes the gulf at ASEAN
The first day of the ASEAN-Australia summit offered a classic illustration of the existing gulf in regional diplomatic cultures and approaches.
- Opinion
- East Asia Forum
ASEAN must anchor regional security through co-operation
Australia needs ASEAN leaders now, more than ever, to be an effective anchor for security in the region.
Albanese, South-East Asian leaders to tiptoe around China
The desire to issue a unanimous statement means regional splits over Beijing need to be papered over. ASEAN will be the biggest gathering of leaders in Australia for six years.
- Exclusive
- Foreign relations
PM seeks closer ties with Vietnam as hedge against China
Australia is poised to join a small group of countries holding the highest level of diplomatic ties with Vietnam as Anthony Albanese looks to build connections as a hedge against China.
- Exclusive
- Foreign relations
Australia in peril unless it seizes South-East Asia future: business
Australia invests more in New Zealand than it does in South-East Asia. That needs to change.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Downer EDI sues KPMG for failing to detect accounting irregularities
The contractor has sought to blame its auditor for the scandal, which wiped some $500 million from its valuation, forcing the firm to quit as auditor.
- Opinion
- Chanticleer
Why rising house prices make RBA rate cuts less likely
The latest data from the housing market says supply remains weak, and prices are rising again. That will probably give the RBA a headache.
Genex shares surge as Japanese utilities giant lobs bid
Scott Farquhar’s Skip Capital and a partner walked away from a lower bid for the Queensland renewables developer 14 months ago but remain its biggest shareholder.
Qantas’ sunrise dream faces cheaper ultra long-haul competitor
Turkish Airlines is pursuing a different strategy to take Australians direct to Europe, which is likely to be much cheaper than Qantas’ long-haul project.
Crypto casino Stake.com denies trademark claims
A cryptocurrency gambling company with the same name as a share trading platform says it rebranded the F1 team it sponsors at the Melbourne Grand Prix to avoid confusion.
Lynas not standing still after mega-merger stalls
Lynas boss Amanda Lacaze missed out on a tie-up with a New York-listed rival aimed at challenging China’s dominance. What next for the rare earths player?
Swiss bank accuses Macquarie of distorting valuations for higher fees
Julius Baer said the local giant was refusing to answer questions about how education platform Byju’s was performing. Others cut their valuation by 98 per cent.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
‘Substantial’ risk to GDP growth as firms destock
A surprise fall in inventories could shave 1 percentage point off GDP growth and raises the possibility the economy contracted in December for the first time since the pandemic downturn.
VanEck’s bid for ASX bitcoin ETF boosted by record interest
The investment manager wants to launch a local bitcoin exchange-traded fund, and is waiting on approval from the corporate watchdog.
ASX slips from all-time high; gold miners, real estate stocks rally
Australian shares end lower as GDP worries mount. Downer brings KPMG into class action dispute. Energy stocks on the rise. Nikkei 225 tops 40,000.
Super funds put money back to work, fuelling ASX rally
BHP, CSL and QBE were among the most popular stocks held by super funds last year, while Fortescue was by far the most unloved.
Rate cut bets ramp up as traders price US slowdown
Weaker than expected US manufacturing data has reinforced bets that the Federal Reserve rate could cut rates as early as May.
Opinion
Rebooting farm productivity will help achieve climate goals
Delivering sustainability outcomes is paramount for farmers, but more work needs to be done to understand the challenges in the sector as costs rise faster than revenues.
Head of ABARES
Dunkley sets up Labor’s 2025 win
While the Liberals look down rabbit holes like crime and refugees, Labor plans to claim vindication on economic policy.
Former Labor minister and economist
If we don’t take advantage of ASEAN’s rewards, others will step in
Australia’s trade and investment with its giant Asian political and economic neighbour is seriously underdone. Where should we start to change things?
Economist
Dunkley shows Liberals can win Teal seats
Defeat for Liberals in the byelection offers “blue shoots” in seats that turned teal if they focus on the economy.
Dunkley exposes further shift away from major parties
With the core demographics exposed and projected nationally, the byelection points to a narrow majority for Labor in 2025.
Election analyst
It’s a mistake to think about ASEAN in binary terms
It is unrealistic to think the outcome of this week’s summit will be the next step in Australia building a broader network of Asian allies against China.
International editor
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
Australia, Malaysia seek to defuse tensions on Israel-Hamas
The two countries agree there should be an immediate humanitarian ceasefire and the release of all remaining Israeli hostages being held in Gaza.
- Exclusive
- Political leadership
Tas Libs, Labor ‘sniffing around’ Lambie in search for majority
The outspoken senator is fielding a team of 12 candidates at the Tasmanian election. They are on track to secure one-in-every-10 votes.
It’s the economy, Peter: What Dutton should take from Dunkley
Open hostility towards Scott Morrison in Victoria has been replaced with begrudging respect for Peter Dutton, MPs involved in the Dunkley campaign say.
Investigation into Supreme Court judge dropped
The Judicial Commission of Victoria says it has dismissed a complaint by state prosecutor Kerri Judd into Justice Lex Lasry because the judge has retired.
- Exclusive
- Byelection
Dutton talks up hopes to win back teal seats
Opposition Leader Peter Dutton says strong swings back to the Liberal Party in Dunkley booths that were at risk of going teal are a “great encouragement”.
SPONSORED
World
Xi to resist pressure to step up stimulus
This week’s National People’s Congress is expected to focus instead on the longer-term goal of turning China into an advanced manufacturing superpower.
Israel ‘boycotts’ Gaza ceasefire talks over hostage list
Washington has insisted the ceasefire deal is close. But the warring sides have given little sign in public of backing away from previous demands.
- Analysis
- Israeli-Palestinian conflict
Why Biden must get even tougher with Netanyahu
The US president should use the UN Security Council to create facts in international law, forcing Israel to scale back its campaign in Gaza and its settlement of the West Bank.
How Country Garden plays into China’s property mess
When China moved in 2020 to reduce the risk of a housing bubble, it set off a cash crunch for developers that was worsened by pandemic lockdowns.
Trump has momentum heading in to pivotal week in US election campaign
After sweeping three primary contests, the former president is expected to dominate on Super Tuesday, when more than a dozen US states hold primary contests.
Property
New house pipeline drops to weakest in almost 12 years
Australia’s new housing cycle is reaching a trough, but this doesn’t mean a fast pick-up anytime soon.
Chinese buyer outbids locals by $1m for luxury Gold Coast home
A FIRB buyer paid $7.7 million for a newly built Miami-style mansion in Mermaid Waters – over $1 million more than any local offered for it.
‘Buyers are flighty at the moment’: Caution softens clearance rate
Bidders are competing for high-quality homes, but a lack of bids for lower-priced properties is pulling the national clearance rate lower.
- Exclusive
- Property development
Satterley buys AustralianSuper’s Kingswood Golf Course site for $220m
Rich List developer Nigel Satterley has beaten listed property giant Mirvac and others to acquire Melbourne’s Kingswood Golf Course site in the biggest land deal of the year.
- Exclusive
- Build-to-rent
Sentinel adds 240-unit Adelaide project to BTR pipeline
Momentum is picking up, one development at a time, in the housing type that could reshape the country’s housing market.
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
- Exclusive
- Funding
Tech founders ‘delusional’ about falling company valuations
Seasoned investors have warned that entrepreneurs are delusional after a new study found most were confident of raising capital this year at higher valuations.
As Facebook turns 20, news is out, fun is in
Social media are more popular than ever, but social networks are dying.
Customers may hate supermarket anti-theft tech, but investors don’t
Coles share price rise is partly due to its ability to take advantage of tech like artificial intelligence to stop thieves and appeal to more shoppers.
Work & Careers
- Exclusive
- Trade unions
Christy Cain follows John Setka out the door at CFMEU
The militant union head is stepping down as part of a change of the guard that could result in the construction division leading the broader union.
‘The best revenge is living well’: How to deal with sexism
From making room at the bar to encouraging ‘Space Ladies’, female lawyers and consultants are advancing in male-dominated fields.
Life & Luxury
- Opinion
- Digital Life
We don’t believe it. A smart home device that actually works?
Every six months or so, we perform in-depth experiments to see if smart home devices are still as bad as ever. This time, we got a different answer than usual.
This play about the Lehman Brothers disaster is three hours long. It’s riveting
Masterfully acted and brilliantly staged, The Lehman Trilogy is as much the story of capitalist America as it is of the doomed bank.
‘A Mars bar in a yellow skin’: the truth about bananas
Is the popular fruit really such a health saviour? Here are the pros and cons of making bananas one of your five a day.
‘We don’t do curry’: this chef wants to change our idea of Indian food
Is progressive Indian food anything like the stereotype? What actually is Filipino cuisine? All will be revealed at the Melbourne Food and Wine Festival.
- Driving With Tony Davis
- Motoring
BYD’s fast new EV sedan is hot on Tesla’s tail
The Chinese makers of the BYD Seal Performance Sedan are so proud of its acceleration they’ve put a badge on the boot boasting of the rate. But this fast EV has other surprises, too.
