What lies ahead for the economy and business, and how can we recover from the inflation shock.
Chalmers admits growth ambitions are too low
Business leaders welcomed the treasurer’s pitch to embrace what could be a “defining decade” but questioned government policies to fix weak productivity growth.
Wealthy Australians set to pay more for aged care
A long-awaited review has called for retirees to make rental contributions instead of large lump sum deposits to live in nursing homes; those receiving care at home are to pay more as well.
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.
Australia trapped in a ‘jail of short-term thinking’
New Business Council president Geoff Culbert says three-year government terms contribute to a crisis of short-term thinking that is dragging down the nation.
Albanese pledges $4b for Indigenous housing
Anthony Albanese and Indigenous Australians Minister Linda Burney will visit the NT on Tuesday to announce a major package for remote homes.
- Exclusive
- Tax disputes
Street Talk triggered $207m freeze order; family ‘flight risk’
The rich Taiwanese-Australian family behind the Nature’s Care brand lied to the tax office about their income, court documents allege.
Coalition will seek a social licence for nuclear: Dutton
Communities will be consulted and “incentivised” to adopt nuclear power, Opposition Leader Peter Dutton says.
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AFR BUSINESS SUMMIT
Coalition will seek a social licence for nuclear: Dutton
Communities will be consulted and “incentivised” to adopt nuclear power, Opposition Leader Peter Dutton says.
Australia trapped in a ‘jail of short-term thinking’
New Business Council president Geoff Culbert says three-year government terms contribute to a crisis of short-term thinking that is dragging down the nation.
Fortescue says hydrogen hopes rest on a halving of power prices
Fortescue Energy boss Mark Hutchinson says Australia must get clean power prices down to $US30 a megawatt hour if it wants green hydrogen projects to go ahead.
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.
Manufacturing wipeout a risk without right carbon border tax: Orica
CEO Sanjeev Gandhi has warned the future of manufacturing is under threat without carbon border taxes, while the cement sector is already suffering.
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.
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Companies
Cettire defends CEO’s $127m share sale ahead of stock slump
Dean Mintz offloaded the stake in the luxury retailer after questions were raised about the company’s customs duties. He remains the largest shareholder.
- Exclusive
- Tax disputes
Street Talk triggered $207m freeze order; family ‘flight risk’
The rich Taiwanese-Australian family behind the Nature’s Care brand lied to the tax office about their income, court documents allege.
BoQ backs Temenos amid claims software provider selling ‘vapourware’
Activist investor Hindenburg Research alleges the company has employed aggressive accounting practices and sold faulty products to local lenders.
Virgin set to follow Qantas in raising fares
Airlines are increasing airfares as domestic demand remains robust and both carriers chase margin growth.
ANZ’s private bank joins crowded race for country’s richest families
The local bank has penned a deal with a fixed-income manager to tailor a bond portfolio for its richest clients.
ASX in war of words with Magnis Energy as shares remain suspended
Once one of the most promising renewables plays with a market capitalisation of some $500 million, the company has been told to outline its sales contracts.
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.
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Markets
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.
- 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.
ASX tumbles most in a year as miners, banks sell off
Shares drops 1.8 per cent at the closing bell as investors take profits; iron ore slides in Singapore; Rex rallies afters partnership with Etihad. Follow updates here.
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
Australia must not accept a low-growth future
The unambitious Intergenerational Report must not become the benchmark for this country’s growth prospects. Bold structural reform is needed.
Editorial
Why women will swing the US election
Joe Biden’s State of the Union address was an attempt to recapture the 2022 midterm wave driven by women angry about reproductive rights.
Research Associate
Welcome to a new world driven by supply not demand
It will be harder for central banks to manage a global economy now shaped by supply side constraints. But it won’t all be negative either.
Investment strategist
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
WTO in the deep freeze as world walks away from growth
Last week’s failed meeting marks a formal sidelining of multilateral trade rules, at least until the world sits down and decides they were a good idea after all.
Trade expert
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
Chinese ambassador says tariff discussions ‘on the right track’
Xiao Qian said that the relationship between Beijing and Canberra had “stopped free-falling and stopped deteriorating” since their depths four years ago.
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.
Yang Hengjun not that sick, says Chinese ambassador
Hopes for the release of Yang Hengjun on medical grounds have been dampened after the Chinese ambassador said the democracy advocate was not as sick as claimed.
NSW urged to take 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.
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World
Iron ore woes deepen as China’s key meet disappoints
The key annual gathering of China’s parliament failed to cheer commodities bulls hoping for a jolt to demand in the world’s biggest market for raw materials.
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”.
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
- 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.
- Exclusive
- IPO
Aussie IVF guru plans Nasdaq listing
GenEmbryomics founder Nick Murphy invented a test to screen embryos for genetic disorders. He wants to go public in the US, where the company’s customers live.
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.
Work & Careers
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.
- Opinion
- Workplace culture
The misery of motormouths in meetings
The ability to interrupt yammering windbags who steal time is a sorely underrated skill.
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.
