Keating gatecrashes PM’s ASEAN party
The former prime minister says Australia’s spy agencies are undermining efforts to stabilise ties with China, and warned Australia is out of step with ASEAN.
- Opinion
- Inside China
Rinse and repeat: no new ideas in Xi’s 2024 plan
Highly choreographed with few surprises, the annual meeting of China’s parliament has delivered a set of economic targets almost identical to last year despite rising challenges, writes Michael Smith.
- Live
- Need to Know
PwC global chairman told a ‘disappointed’ Stubbins she was being replaced
Former PwC Australia acting CEO Kristin Stubbins says she was ‘completely stunned’ by the extent of the tax leaks scandal; Former prime minister Paul Keating has lashed Penny Wong and security chiefs. Follow updates here.
- Opinion
- Chanticleer
How a little acquisition exposed Healius’ core and has heads rolling
Inbuilt system growth covered the cracks for years. Now there is nowhere to hide and its two-pronged pathology/radiology strategy will be consigned to history.
- Live
- Markets Live
ASX flat, Healius extends gains, lithium miners dive
Shares flat; Telix buys ARTMSs for $126m; Healius names Paul Anderson as CEO; bitcoin tops two-year peak; gold miners shine. Follow updates here.
Imports drop as households cut back on travel, cars and clothes
A sharp decline in overseas travel and a large fall in imports of consumer goods may have stopped the Australian economy from contracting in December.
Private health premiums to rise most in five years
Medibank, Bupa, HCF and NIB are among health insurers that will raise premiums the most, as nearly 15 million customers face an average increase of more than 3 per cent.
- Drinks With Max Allen
- Wine & spirits
The innovator defying ‘doom and gloom’ in a struggling wine region
Breaking news on companies, politics and economics, in your inbox as it happens.
Tuesday tech
‘Not helpful or accurate’: Tech CEOs hit out at gender pay gap data
The chief executives of two tech unicorns with the largest median gender pay gaps say the figures don’t accurately represent their workforce.
- 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.
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.
- Analysis
- The Breakdown
Black George Washington? Google shows pitfalls of ‘woke’ AI
Google’s chief executive, Sundar Pichai, apologised after his company’s AI tool inserted people of diverse backgrounds into requests for historical images.
- 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.
ASEAN SUMMIT
PM pledges $2b green energy 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.
Woodside, HSBC, Seek sign up to young professionals in Asia program
The companies are first to sign up to a placement program for professionals under 40 between ASEAN countries, as recommended by Nicholas Moore.
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.
- 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
- The AFR View
ASEAN summit signals Australia’s a trusted partner
Australia has a role to play in promoting “ASEAN centrality” in an open and stable region, and an interest in increasing trade and investment as our neighbours progress to a more prosperous future.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Healius CEO exits as strategic review speeds up
Maxine Jaquet is leaving Australia’s second-largest pathology company, with private equity players likely circling in what may be a break-up of the company.
‘Data not accurate’: Macquarie’s nickel veteran says rout ending
After a trip to China, Jim Lennon says the debilitating supply glut could be over a lot faster than most people think.
- Exclusive
- Investment banking
Macquarie lauded embattled Indian tech investment as its scandals grew
In two investor updates last year, the asset manager lauded the profitability of Byju’s even as other backers slashed the value of the embattled education platform.
Football Australia, Matildas coach blindsided by Kerr criminal charges
Sam Kerr, the captain of Australia’s women’s soccer team, is to face trial in England accused of the racially aggravated harassment of a police officer more than a year ago. She was charged six weeks ago, but Football Australia was left in the dark.
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.
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.
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.
Companies in the News
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Markets
Gold rush prompts investors to snap up ASX miners
A two-day rally in the price of gold has sent buyers back to ASX gold miners that have until now lagged a surge in the price of the precious metal.
Bitcoin jumps as options point to $US80,000
The token has surged around 60 per cent this year, outpacing traditional asset classes such as stocks by a wide margin.
- Exclusive
- IPO
ASX tech dream stalls as de-listings stack up
New data shows the number of Tech IPOs has slowed dramatically over the past two years, while de-listings have remained steady.
What happened overnight? Shares traded in a narrow range though Tesla tumbled
US stocks fluctuated as strategists see rising short-term risks from relentless rally. Apple slumps on EU fine, Nvidia and Super Micro leap. Gold eyes record.
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.
Opinion
What Beijing does next could hasten a global recession
China has encouraged what it terms the “new three” growth areas of electric vehicles, batteries and renewable energy. But this strategy poses two huge risks for global markets.
Columnist
It’s time to clean up the consulting sector once and for all
We cannot allow the pendulum to swing back to the unacceptable status quo where greed, deceit and conflict of interests are allowed to thrive.
Labor Senator
ASEAN summit signals Australia’s a trusted partner
Australia has a role to play in promoting “ASEAN centrality” in an open and stable region, and an interest in increasing trade and investment as our neighbours progress to a more prosperous future.
Editorial
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
Ukraine needs total Western support - and so does Israel
Both are fighting for Western civilisation - one against Russian imperialism, the other against Iranian-backed Islamism. And we should want both to win.
Contributor
In WA, a lesson in the tough reality of processing lithium
Albemarle’s emerging plant is a living example that reality is much harder than Australia’s rhetoric about more downstream processing in lithium hydroxide.
Columnist
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
Drumgold ‘delighted’ as judge finds inquiry biased
A court has found the inquiry by former judge Walter Sofronoff was infected by bias because of his contact with Janet Albrechtsen, a journalist from The Australian.
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.
Dry conditions to cost Australian farmers, with grim outlook for wine
Dry conditions and soft international grain prices have led to Australia’s agricultural output dropping by 15 per cent, hitting farm incomes.
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.
SPONSORED
World
China sets growth target of 5pc despite challenges
Premier Li Qiang announced the widely anticipated target as he delivered his first ‘work report’, or annual budget, outlining key policies and economic targets.
Supreme Court restores Trump to state ballots in major win
The decision is a victory for the former president in his bid for the White House, and comes a day before Super Tuesday when 15 states vote in primaries.
Apple fined $3b by EU for using app store to thwart competition
The penalty, announced by the bloc’s antitrust regulator, is the culmination of a five-year investigation set in motion by one of Apple’s biggest rivals, Spotify.
Nikki Haley wins her first Republican primary
Her victory at least temporarily halts Donald Trump’s sweep of the GOP voting contests, although he is likely to pick up several hundred more delegates this week.
Newly enlarged NATO starts drill in Finland, Norway and Sweden
With more than 4000 Finnish soldiers taking part, the Nordic Response 2024 represents the newcomer’s largest ever participation in a foreign exercise.
Property
Downsizers are selling homes at big discounts – to their kids
A nurse was struggling to find a first home, so her retired parents offered to sell her theirs at a heavy discount. Real estate agents say it’s a trend.
The suburbs where prices jumped more than $240k in three months
Improving housing sentiment has fuelled strong rebound in house and unit values in the major capital cities.
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.
Tax rise ‘last nail in the coffin’ for Victorian property investors
Melbourne property manager Carmen Littley says she has lost 52 investor clients since landowners were slugged in the most recent state budget.
Lendlease defends guidance shock
The beleaguered property giant says it could not have disclosed a change in its forward guidance any earlier than last month’s December half announcement.
Wealth
- Analysis
- Cars
The 20-year, multibillion inheritance feud dividing the Fiat dynasty
Gianni Agnelli’s daughter Margherita signed a document in 2004 that has spurred lawsuits and set her against her three eldest children.
- Opinion
- Superannuation
Super’s new dilemma: save yourself tax or reduce it for your kids
The question is whether to restructure in an attempt to reduce your tax bills or those of your future beneficiaries.
- Opinion
- Property investment
Seven ways to maximise returns on your investment property
Taking a bullish stance on rental pricing in the current market is justified, but the renter’s perspective should be acknowledged as well.
Technology
TikTok dragged into Albanese’s Facebook fight
The government has told the video social network with 8.5 million Australian users to strike deals with media companies for the value of their content on its site.
As Facebook turns 20, news is out, fun is in
Social media are more popular than ever, but social networks are dying.
- 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.
Work & Careers
- Opinion
- Gender equality
Wall Street’s women are not waiting around for promotion
Those with the chops to make it to senior management in banking may not want to sit around and wait their turn.
- 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.
Life & Luxury
Returning to live in London after 20 years. Here’s what I learnt
After two decades away, this journalist discovers a city that still has an undeniable buzz – yet in other ways it’s grinding to a halt.
With just a few tweaks, this e-bike would be perfect
It wouldn’t take much to make Merida’s eBig Tour 400 EQ a favourite, whether for commuting or mountain bike trails.
- 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.
