- Updated
- Health insurance
Private hospitals sound alarm as premiums rise
More than a dozen private hospitals have closed since last year, with NIB boss Mark Fitzgibbon warning of a structural change in the provision of medical care.
- Updated
- Foreign relations
Singapore backs AUKUS subs as Keating rocks summit
Singapore has backed the Albanese government over the AUKUS deal, undercutting former prime minister Paul Keating’s claim Australia was at odds with the region.
Release the international report on tax leaks: former PwC boss
Ex-PwC Australia acting CEO Kristin Stubbins has piled pressure on the firm’s global leaders to provide details of foreign partners involved in the tax leaks scandal.
A victory of sorts for Drumgold in case that put ‘bias’ to the test
The former DPP won’t be getting his old job back, and has failed to overturn seven findings of ‘serious misconduct’. But the main game of his challenge was bias.
Judge slams Chinese state-owned funds trying to seize Nature’s Care
In the NSW Supreme Court, James Stevenson became almost visibly angry after the two funds refused to accept they should be subject to his ruling.
- Opinion
- ASEAN
Trust Paul Keating to interrupt ASEAN’s polite summit rhetoric
Labor is confident it can sell greater engagement and business investment with South-East Asia, no matter what the former prime minister thinks of its approach to China, writes Jennifer Hewett.
‘A difficult place for me’: Higgins back in WA for Reynolds mediation
Brittany Higgins and her former boss Linda Reynolds have come face-to-face in a Perth courtroom.
Breaking news on companies, politics and economics, in your inbox as it happens.
Tuesday tech
- 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.
‘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.
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.
ASEAN SUMMIT
New measures will help business assess sovereign risk in SE Asia: PM
Anthony Albanese says it is no longer a “one size fits all” approach to investing in a region, parts of which have a history of political volatility and corruption.
Taylor Swift is now a trade dispute
Disharmony within South-East Asia over a sweetheart deal for Taylor Swift to perform in Singapore has provided a sideshow to ASEAN summit.
- Analysis
- ASEAN
South-East Asia signals it won’t be picked off by China
A tick of approval from one of Asia’s most respected statesmen for AUKUS was just one positive sign from the 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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
ACCC admits defeat on ANZ’s $4.9b takeover of Suncorp’s bank
The competition watchdog says it will not appeal a decision to unblock the deal after a tribunal found it would “not lead” to major changes in the market.
Release the international report on tax leaks: ex PwC boss
Ex-PwC Australia acting CEO Kristin Stubbins has piled pressure on the firm’s global leaders to provide details of foreign partners involved in the tax leaks scandal.
- Opinion
- Chanticleer
China’s big growth target won’t solve its six big problems
China’s GDP growth target for 2024 is probably unrealistic, but it’s the lack of concrete stimulus plans that should worry investors and economists.
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 end in a break-up of the company.
Virgin Australia records higher revenues, warns of headwinds ahead
The airline’s chief executive, Jayne Hrdlicka, did not provide additional detail about why was leaving the company later this year.
‘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.
Companies in the News
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Markets
Investors more optimistic on nickel after last year’s rout
Fund managers and strategists think the price of nickel has bottomed with Macquarie’s veteran metals expert making a major change to his forecasts.
ASX closes down; Healius, gold rally
Shares ease; Telix buys ARTMS for $126m; Healius names Paul Anderson as CEO; gold and bitcoin eye record highs; Virgin posts $2.8b revenues. Follow updates here.
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.
Opinion
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.
North Asia correspondent
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
Why the dismal state of US politics is fuelling the AI boom
With political gridlock in Washington the norm, the sharemarket is betting that Nvidia is less likely to face anti-monopoly regulation.
Columnist
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
The lights will stay on in NSW when Eraring is turned off
If the planned renewables and firming pipeline is delivered, the electricity grid will keep on passing tests like last Thursday’s extreme temperatures.
Energy advisors
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
Dutton changes gear on nuclear plans, PM dismissive
Opposition Leader Peter Dutton’s proposal for large nuclear power plants differs to the original plan, which would involve using small modular reactors.
- Updated
- Health insurance
Private hospitals sound alarm as premiums rise
More than a dozen private hospitals have closed since last year, with NIB boss Mark Fitzgibbon warning of a structural change in the provision of medical care.
‘A difficult place for me’: Higgins back in WA for Reynolds mediation
Brittany Higgins and her former boss Linda Reynolds have come face-to-face in a Perth courtroom.
A victory of sorts for Drumgold in case that put ‘bias’ to the test
The former DPP won’t be getting his old job back, and has failed to overturn seven findings of ‘serious misconduct’. But the main game of his challenge was bias.
Imports drop as households cut back
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.
SPONSORED
World
Prabowo vows smooth transition, pushes privatisation
Indonesia’s putative president said he believed economic growth could reach 8 per cent annually within the next four or five years.
China drops ‘peaceful reunification’ reference to Taiwan
China officially adopted tougher language against Taiwan as it released the budget figures as it stepped up defence spending.
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.
Biden’s Democrats battle for most ‘anti-Trump’ title
Contenders for a US Senate seat in California are divided on Israel and also seek to paint themselves as the most anti-Trump candidate.
‘Doesn’t pay his bills’: Former Twitter executives sue Musk for $197m
Twitter’s former CEO Parag Agrawal and other executives say the billionaire made up reasons to fire them to avoid paying severance.
Property
Perth buyer takes developer to court to enforce sales contract
Paul Scanlan is suing Yolk Property Group to honour an off-the-plan contract to purchase a townhouse in North Fremantle, after it was cancelled in 2022.
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.
Blackstone’s $90b property fund hits milestone as investor nerves calm
The giant real estate fund for wealthy individuals is finally letting customers draw money without any constraints after more than a year.
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.
Wealth
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.
- 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.
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
- Opinion
- Digital Life
Apple’s best MacBook (our favourite laptop) just got better
Apple has just upgraded its MacBook Air with new faster processors and some niche improvements that some users will appreciate.
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.
