- Updated
- GDP
Australia faces another year of weak GDP growth
Weak economic conditions will squeeze company profits, push up unemployment and potentially send the budget into deficit, economists have warned.
ASX to rise, Powell keeps rate hopes alive
Australian shares are set to open higher. Wall Street rebounds. Nvidia resets record high. Bitcoin steadies above $US67,000.
Nikki Haley suspends her campaign, fails to endorse Trump
The decision came after the former governor was soundly defeated across the country on Super Tuesday.
Labor to pay super on paid parental leave
From July 1, 2025, new parents will have 12 per cent superannuation paid on the 20 weeks of government-funded paid parental leave.
Tories try to staunch Britain’s ever-growing tax take
Trailing Labour in polls and facing an election soon, PM Rishi Sunak tries to woo the battlers with tax cuts, but squeezes UK residents with offshore income.
‘I don’t own five houses, I own five debts’: Vic investors sell up
The rise in Victorian land taxes, council fees and interest rates is forcing many investors to turn to Queensland and WA, which they say offer far better returns.
ASEAN pulls punches on China, Russia, Taiwan
South East Asian leaders watered down strident criticisms of China, omitted any reference to Taiwan, and stripped out a demand for Russia to withdraw from Ukraine in their final statement.
Breaking news on companies, politics and economics, in your inbox as it happens.
women to watch
Meet the Women to Watch in 2024 in five key sectors
To mark International Women’s Day, The Australian Financial Review has nominated emerging Women to Watch across five key sectors – and asked them for their advice and how they made it.
- Opinion
- Women to watch
This is how to win the productivity prize
If a country used only half its factories it would waste a lot of its productive potential. The same is true if we tap into only half of society’s brainpower.
Not ‘one of the boys’: Fundies with a different leadership style
Up-and-coming and leading fund managers share their journeys through the wealth sector and impart their best lessons.
Positive influence: Saving the planet is a big drawcard
Men outnumber women three to one in the energy sector, but the desire to make a difference as the planet warms is drawing many women to jobs in sustainability.
‘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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
- Exclusive
- Mergers & acquisitions
AusSuper vindicated by Origin valuation in wake of bid’s collapse
After sparring on Brookfield’s bid, AusSuper’s CEO backs Origin’s leadership but will not rule out a tilt for a board seat in future.
- Breaking
- Big four
CBA to close Bankwest branch network in all-digital push
Commonwealth Bank will shut 45 Bankwest branches and convert another 15 to the mainstream CBA brand.
Rinehart blames Hancock pay gap on ‘helping women’ into mining
A 22 per cent gender pay gap at Hancock, versus a 15 per cent for all miners, is the temporary result of getting more women into the industry, Gina Rinehart says.
New Insignia CEO promises profit improvement
Scott Hartley admitted that investors will want to see proof of greater efficiencies and cost savings before they embrace the struggling wealth company again.
32nd storey deemed ‘flood risk’ in insurance farce
A Melbourne apartment 120m above street level, with no ground storage, was denied contents cover because of a “heightened flood risk”.
- Updated
- Fashion retail
Private equity-backed swimwear group Tigerlily collapses
For the second time in four years, the company founded by Jodhi Meares has gone under. Its owner, Crescent Capital, tried to sell the retailer last year.
- Investigation
- Retail
We spent $1300 shopping at Cettire. Here’s what happened
It’s the buzziest stock on the ASX, thanks to “eye-watering” sales and wide margins. Customer reviews aren’t all so glowing. What’s behind the success?
Companies in the News
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Markets
Fed’s Powell still expects rate cuts in 2024
A rate pivot is hinged on the economy evolving “broadly as expected”, and if inflation continues to slow towards the central bank’s 2 per cent target.
Cettire struggles to convince sceptical markets as shares fall 14pc
The luxury retailer – in an investor call and statement – said it had a direct arrangement to pay duties after questions were raised about its practices.
Markets wobble as China’s growth target fails to impress
The widely expected 5 per cent growth goal has halted a month-long rally in Asian equities as investors’ hopes of stronger market measures were dashed.
Crypto mania and speculation drive bitcoin higher
The speculative frenzy in digital currencies has doubled the value of some memecoins as retail traders bet on blockchain’s future use.
Lithium, nickel bear market ‘far from over’: Goldman
The broker now sees lithium prices crashing a further 25 per cent, and nickel slumping 15 per cent over the next 12 months.
Opinion
ASEAN summit a worthwhile investment of Australia’s soft power
But the optics of forging stronger links with the nations of South-East Asia were undercut by the unprecedented and unedifying intervention by Paul Keating.
Editorial
The economy is weak, but it’s not all doom and gloom
Beneath the talk of a “per capita recession” and mortgage stress, there are pockets of resilience and cause for optimism.
Economics editor
Why WA thinks it’s so special
The December GDP figures underline why West Australians feel their contribution to the nation is underappreciated rather than overpaid.
Columnist
Why it’s time to end single-sex schooling
All forms of segregation have been systematically rooted out of society except the gender divide in our most elite schools.
Columnist
Bitcoin mania is in full swing – with no end in sight
The cryptocurrency was trading at just $US16,000 at the depths of a crisis brought on by the FTX collapse. It set a fresh high early on Wednesday morning, writes Karen Maley.
Columnist
Shaky China is not a long-term bet for investors
The world’s second-largest economy faces a clear and present danger of falling into the middle-income trap.
Global financial commentator
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
Albanese’s car emissions scheme raises concerns for Thai PM
A US expert who worked closely with GM on emissions says the Australian scheme is the most “aggressive” in the world and some fine-tuning is required.
Keating slammed by Labor, Libs over Wong, ASIO attack
Treasurer Jim Chalmers, who considers Paul Keating a mentor, says the ex-PM is wrong about Penny Wong and spy boss Mike Burgess.
‘I don’t own five houses, I own five debts’: Vic investors sell up
The rise in Victorian land taxes, council fees and interest rates is forcing many investors to turn to Queensland and WA, which they say offer far better returns.
- Updated
- GDP
Australia faces another year of weak GDP growth
Weak economic conditions will squeeze company profits, push up unemployment and potentially send the budget into deficit, economists have warned.
Sofronoff findings against me ‘tainted’: Drumgold
Former ACT director of public prosecutions Shane Drumgold wants the record corrected after his legal victory over the Sofronoff inquiry.
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World
Russian missile hits close to Zelensky, Greek premier
“These people don’t care, they have either gone insane or they don’t control what their terroristic army is doing,” Zelensky said about the Russian military.
- Updated
- US election
Super Tuesday blitz sets up Trump, Biden rematch
Polls suggests Americans would prefer to see two new, younger candidates, but Trump and Biden have sailed through the primary selection process with rare ease.
- Analysis
- ASEAN
Sense of urgency as Australia finds its true international identity
There is a meaning to be extracted from the ASEAN summit for Australia’s international identity.
- Analysis
- US election
Not even Democrats could save Nikki Haley from Trump
Some Democrats voted for Republican candidate Nikki Haley in a failed and last-ditch bid to halt Donald Trump’s domination of Super Tuesday’s primary contest.
Ukraine hits Russia’s Black Sea fleet with high-tech drones
Ukraine is focusing on developing and deploying lethal, advanced sea drones against Russian warships in a new chapter of the war.
Property
- Exclusive
- Build-to-rent
Rich List family fires up $3b build-to-rent program
Plans to build and own large-scale rental housing by the Tarascios’ Salta Properties are coming to fruition just as the housing crisis bites.
- Exclusive
- Luxury property
Kaftan queen buys Barrenjoey partner’s Bondi mansion
The Australian fashion designer said her new Federation house Gnal Loa on Bondi’s biggest landholding “just felt right”.
Sydney, Perth and Adelaide housing markets tipped to outperform
Valuers are predicting house prices to increase nationwide over the next 12 months, led by Sydney, Perth and Adelaide.
House-and-land sales dive as investors sell up
Developer Nigel Satterley says Victorians selling second homes or investment properties to escape new state taxes is subduing demand for new houses.
- Exclusive
- Property investment
Soaring rents put 800,000 tenants at risk of being displaced
Vulnerable renters face the prospect of being displaced from their current suburbs by wealthier tenants as rents soar to new peaks, a new report shows.
Wealth
It’s divorce season. This is what to do about money
The end of summer holidays and return to work is a peak period for couples to reassess their marriage. Here are 10 financial and tax issues to keep in mind.
- Opinion
- Ageing
Aged care providers publish what they spend on food, care and wages
The new tool is designed to hold aged care providers to account for how they manage their budgets. But it’s only as good as the data provided.
How do I protect my elderly mother from scammers?
The trick to discussing scams is to avoid pointing the finger or suggesting your mother is naive.
Technology
Amazon books losses on $6b Aussie sales as retail and cloud boom
The US tech giant’s local online retail and cloud computing businesses are both printing money, with 20 per cent year-on-year growth, but it is still booking losses, newly published accounts show.
The ‘crucial’ factor for tech leaders to get ahead
A mentor can help future female leaders by acting as a sounding board and passing on skills and coaching.
Facebook, Instagram back online after global outage
A more than two-hour outage was caused by a technical issue and affected hundreds of thousands of users globally.
Work & Careers
How the AFL’s introverted CEO will win over NSW and Queensland
The lawyer, former AFL general counsel and self-described “introverted” new CEO of the AFL Andrew Dillon has launched an audacious plan to drive the game further into the rugby heartland of New South Wales and Queensland.
Hemmes’ Merivale to pay out $18m in underpayment class action
The billion-dollar hospitality empire has settled a massive underpayment class action without admissions, but almost half that amount will go to lawyers.
Life & Luxury
- Driving With Tony Davis
- New car snapshot
Mercedes-Benz’s GLC300 is a classy family car. But is it exciting?
The Mercedes-Benz GLC300 is a worthy update of its luxury medium-sized SUV. Here’s why it’s a dependable choice while waiting for the next EV.
AFL season could permanently launch outside of Victoria
New AFL chief executive Andrew Dillon says the interstate push is already a success but not everybody’s happy with the move.
- Opinion
- Highflyer
I just flew from Istanbul with Turkish Airlines. Here’s what I learnt.
Fares from Melbourne to Istanbul come with free nights in five- and four-star hotels.
Illicit drugs bought online often adulterated, study warns
Researchers say the high rate of adulteration of drugs sold online highlights the urgent need for more local pill testing facilities.
Menzies Indigenous collection goes for knockdown prices
Paintings from Rodney Menzies’ estate sold at big discounts to previous prices as buyers prove hard to please in early season art sales.
From the gallery
BOSS Financial Review
How the AFL’s introverted CEO will win over NSW and Queensland
- 35 mins ago
- Patrick Durkin
Life & Leisure
Mercedes-Benz’s GLC300 is a classy family car. But is it exciting?
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Rich List
Rinehart blames Hancock pay gap on ‘helping women’ into mining
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