What lies ahead for the economy and business, and how can we recover from the inflation shock.
- Opinion
- Chanticleer
Goldilocks is dead, says BlackRock guru. Beware what comes next
Wei Li says the era of easy money and easy returns is over. Markets might be surging on rate cut hopes now, but what comes next will be much tougher to navigate.
Why inflation and rates are set to ‘rebound higher’
Expect interest rates to fall, but don’t expect them to stay there. That’s the big picture view of macroeconomic thinkers such as Wei Li and Peter Costello.
Chalmers’ RBA overhaul in jeopardy
Treasurer Jim Chalmers may need to secure the support of the Greens to legislate his overhaul of the RBA after rejecting the Coalition’s push for board continuity.
- Live
- Markets Live
ASX drops 1.7pc; Task jumps over 90pc; BHP down
All 11 sectors in the red; mining heavyweights track a lower iron ore price; US luxury wine slowdown a mini-worry for Treasury Wines; Rex rallies after inline partnership with Etihad. Follow updates here.
- Live
- Need to Know
China, SE Asia must reduce reliance on coal: O’Neill
Woodside CEO Meg O’Neill says coal-reliant economies should embrace gas to help lower global emissions. Follow updates here.
- Exclusive
- Mergers & acquisitions
Melbourne entrepreneurs’ $30m payday in Singapore buyout
The deal for 100 per cent of the shares in privately held Trade Indy closed last week, and all of its 28 full-time staff will move across to Singapore’s Sqreem.
Cranbrook to overhaul whistleblowing, child protection, bullying
Cranbrook School has written to its community with a raft of measures designed to restore trust in the school’s management and governance.
Breaking news on companies, politics and economics, in your inbox as it happens.
AFR BUSINESS SUMMIT
Why business leaders can’t cope with criticism
Chief executives who insist on hiring “yes people” soon forget how to present an argument in public, speechwriter and author Lucinda Holdforth claims.
Woodside urges swift vote on $2.4b PRRT changes
Jim Chalmers and Woodside have urged the Coalition to pass legislation for the $2.4 billion change to the PRRT. The opposition says it will not be rushed.
Chalmers pushes planning scheme amid torrent of new banking rules
The treasurer said the so-called regulatory grid would force regulators to consider the burden of changes on lenders, especially smaller and regional groups.
The Goldilocks era is over: BlackRock investment guru
BlackRock chief investment strategist Wei Li says the era of easy money and easy returns are over.
Chalmers to axe 500 tariffs, clears way for gas tax deal
The Albanese government will streamline environmental approvals for resource projects clearing the way for a PRRT deal and abolish 500 “nuisance” tariffs on imports from toothbrushes to tools.
monday media
This news start-up will lose half a million readers if Meta goes nuclear
The Daily Aus’ Sam Koslowski and Zara Seidler say they’ve spent three years building audiences outside of Meta’s platforms to prepare for moves to ban news.
How PwC helped Facebook argue its bill down in tax fight with ATO
The tech giant settled a long-running dispute with the tax office in 2017 for $31 million – here’s part of what PwC argued on Facebook’s behalf.
Antony Catalano wants to sell three of his biggest newspapers
The former Domain boss has discussed selling The Newcastle Herald, Illawarra Mercury and Canberra Times back to Nine.
Two halves of the Seven empire are at war over The Nightly
If the Anthony De Ceglie-led digital newspaper The Nightly falters, prepare for a long slow death. If it succeeds, Seven’s power shifts west.
- Exclusive
- Media & marketing
Onerous demands and threats: 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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Sydney family behind McDonald’s app worth more than $100m
A US-based rival has offered to buy ASX minnow Task Group, which was founded by Sydney’s Houden family in 2000.
- Analysis
- Enterprise IT
How Metcash’s $80m tech upgrade blew out by $200m
A plan to replace nine IT systems with one Microsoft platform is a case study in how not to manage a large-scale tech project.
Mortgage hardship jumps as economic risk comes into focus
The risk that under-pressure borrowers pose to the economy “warranted ongoing close attention”, says the regulatory group in charge of the financial system.
- Analysis
- Bulls & bears
Will this model keep working for fashion darling Cettire?
Share sales by the founder, opaque operations and a ballooning valuation: the luxury platform remains controversial with investors.
- Exclusive
- Aviation
Investors’ scepticism grows as Qantas management sells strategy
The airline’s chief executive, Vanessa Hudson, faces her most significant test since taking the top job as she leads discussions with shareholders and brokers.
- Exclusive
- Investment banking
Julius Baer investors lodge UK complaint over Macquarie fund
Five people who tipped in about $23 million into a Macquarie-led fund have asked a UK regulator to investigate the group’s investment in Indian company Byju’s.
Embattled Star caught in HWL Ebsworth breach
Hackers stole 2.5 million documents from HWL Ebsworth clients last April. Some of Star’s customers and employees were compromised.
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Markets
State debt costs to jump as banks squeeze money tap
NSW, Queensland and WA will have to sweeten their debt offerings to attract overseas money as local banks have fewer incentives to buy their bonds.
Pendal small caps sleuths reveal their next winners
After three years of keeping a low profile, investing duo Lewis Edgley and Patrick Teodorowski say they’ve been busy “kicking tires” and generating alpha.
- Opinion
- Investing
Lessons from BlackRock’s Australian quant king
BlackRock’s Australian-raised super-quant on why factors may explain almost everything there is to know about beating the market, writes Jonathan Shapiro.
Bull run to pause for a session after records tumble
Australian shares are expected to open weaker on Monday, after finishing at a record last week. The S&P/ASX 200 has broken intraday records six times this year.
- Opinion
- Sharemarket
Generative AI – deepfake or justified hype?
Fake images of Taylor Swift and Joe Biden have raised ethical questions but generative AI’s broader adoption opens up huge opportunities for ASX-listed companies.
Opinion
Metcash and Seek: Lessons from two contrasting IT projects
The learnings should be of interest to the broader economy, because badly handled IT projects – and there are too many to name – are a heavy drag on productivity.
Contributor
Investors find a fresh reason for jubilation
Investors have abandoned hopes of a volley of rate cuts this year, but they remain hopeful that strong US economic activity will boost corporate profits.
Columnist
Politics, business must focus on aspiration, growth and security
There has been no major enduring, productivity-enhancing economic reform since the Howard-Costello GST package more than two decades ago.
Editorial
Labor is modernising the economy
The Albanese government will make our economy more productive by easing compliance costs on business where we can, we will abolish hundreds of nuisance tariffs.
Federal treasurer
Kishida likely casualty in Japan’s political slush fund scandal
Japan’s prime minister is unlikely to survive beyond the end of his term as LDP leader in September.
Contributor
Joe Biden must rally voters around a rebounding economy
The octogenarian US president went for full relaunch at the State of the Union address, but he has yet to make his strongest card work for him.
Editorial
Reports
Women to Watch 2024
This article is part of the Women to Watch special report on the next generation of leaders, published on 8 March 2024.
Politics
NSW urged to take back control of road tolls
A report urges the NSW government to set road tolls by legislation to save motorists from some of the $123 billion they are forecast to pay in coming decades.
PM calls for aid access to Gaza, but no change yet on UNRWA freeze
As other countries resume funding, the Coalition is urging a cautious approach before lifting a freeze on $6m for key Palestinian refugee agency.
PM shows signs of recovery as Labor ‘stops the rot’
The prime minister’s personal standing has begun to recover, and he’s more trusted than Peter Dutton despite his tax cuts broken promise.
What voters really mean when they say the cost of living is hurting
Nearly three-quarters of voters say making their household budget stack up is the biggest issue occupying their mind.
Half of $195b toll hit on Sydney drivers will come from WestConnex
Excerpts of a review into NSW toll roads shows drivers will be slugged $195 billion by 2060, but major roads remain clogged at peak hour.
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World
Biden warns assault on Rafah a ‘red line’ as Ramadan starts
Despite the president’s tough talk, experts say no signs are emerging Benjamin Netanyahu will alter the Gaza conflict that is entering a new dangerous phase.
Top photo agencies kill ‘manipulated’ Princess Kate image
The palace faces questions over the authorised image that shows the Princess of Wales looking happy and healthy after her surgery earlier this year.
Biden gets no credit for strong US economy: poll
The latest FT-Michigan Ross survey shows the challenges facing the president as the re-election campaign gears up.
China shuns Tesla, Apple as US tensions rise
Delegates at the annual Communist Party meeting spurned iPhones for homegrown handsets, saying US company Apple was “not safe”.
- Analysis
- Putin's Russia
Russia’s economy once again defies the doomsayers
Data out this week is expected to confirm that Vladimir Putin has got inflation under control. That’s good timing ahead of Friday’s ‘election’.
Property
Pregnant first-home buyers pay $95,000 over reserve for 2-bed unit
A legal quirk reduced the competition for one young couple, who still fought hard for a ground-level unit they’ll move into – just before the birth of their child.
- Exclusive
- Industrial
Industrial property hits $300b and will surge ahead of offices
Once the ugly duckling of the commercial real estate, the value of prime industrial property is expected to surge above $400 billion over the next decade, leaving the office and retail sectors trailing in its wake.
Marrickville unit beats reserve by 22.5pc after luring in 20 bidders
The national clearance rate for auctions has firmed up to 72.8 per cent on preliminary numbers with buyer activity rising from population growth.
- Exclusive
- Luxury property
Rich Lister to sell South Yarra penthouse
Former Sonic Healthcare chairman Michael Boyd is offloading his luxury Melbourne bolthole, while Rokt co-founder Ben Voltz is selling his Toorak home ahead of Sydney move.
Berry estate may fetch $24m in second sale in 202 years
Historic Coolangatta Estate on the NSW South Coast includes a resort, award-winning vineyard and a popular wedding venue.
Wealth
These are the best countries for wealthy expats
The growing wealth gap in many western countries is pushing some to restrict tax and citizenship benefits aimed at expats. So where can they go to protect their assets?
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.
Technology
Former Young Rich Lister lands $12.5 million for second start-up
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
- Analysis
- Software
How Ian Narev copied CBA’s tech success at Seek
Seek’s recent tech upgrade is being talked about as an exemplar case study. Involving 1000 people including 350 engineers, the project came in on time and under budget.
- Analysis
- AI
AI is a threat to human dominance
For the first time, humans will have to deal with another highly intelligent species – and preserving our autonomy should be humanity’s chief objective.
Work & Careers
Jobseekers asking more questions about gender pay gap after WGEA data
The publication of large employers’ gender pay gaps has led to more questions from candidates about parental leave policies too.
Thodey to replace Hutchinson as Sydney University chancellor
With Sydney Uni deriving about half its revenue from foreign students, incoming chancellor David Thodey welcomes “a conversation” about effect on the broader community.
Life & Luxury
If you can get your hands on Fujifilm’s latest camera, do
There was very little wrong with the old Fujifilm X100V, other than it was so popular it was near-impossible to buy. The new X100VI has even fewer flaws, but still has that one.
- Opinion
- Digital Life
How to choose which MacBook Air to buy
There’s no question the new MacBook Air is the best laptop on the market for most people. The only question is, which size? Our tests reveal the answer.
The luxuries this artist loves – including a spray cleaner
Sydney-based artist Vicki Lee on embracing her colourful style and taming the mess.
Why the biggest celebrities in the world trust this photographer
New York-based artist Ryan McGinley has road-tripped with Brad Pitt, hung out with Kate Moss and got Troye Sivan to strip. Now he’s in Melbourne to explain what drives him.
Forget AI – these watches test the limits of human imagination
With only a few elements to play with, brands are taking inspiration from unusual sources to create genre-bending specimens.
