What lies ahead for the economy and business, and how can we recover from the inflation shock.
- Opinion
- Chanticleer
Dimon on risk, ‘nerve-wracking’ US election
Markets and central banks appear certain a soft landing is coming, but Jamie Dimon is more cautious. He sees a world of risk, including from a US election he believes will be a “circus”.
Dutton supports Albanese on four-year terms
Peter Dutton said he was prepared to discuss with the prime minister the introduction of four-year terms for federal parliament.
- Live
- Markets Live
ASX rises, Southern Cross Gold leaps 21pc
Shares gain; Philip Lowe joins Future Generation board; WAM and QV Equities merge; Adairs chairman exits; Air NZ pauses Chicago route; Iron ore tumbles. Bitcoin tops $US72,000. Follow updates here.
Putin sacks navy chief for humiliating Black Sea losses
The Russian president has fired Nikolai Evmenov, replacing him with the commander of the Northern Fleet.
- Live
- Need to Know
Cost of living ‘top of mind’ for Coles: Weckert
Coles chief executive Leah Weckert says supermarkets are facing more scrutiny because of the greater regularity with which customers confront price rises. Follow updates here.
Philip Lowe lands gig in funds management
The former RBA governor will succeed ex-NSW premier Mike Baird as chairman of Geoff Wilson’s Future Generation Australia charitable investment vehicle.
Healius brings in UBS as it reviews strategy, considers asset sales
The company replaced its chief executive, Maxine Jacquet, earlier this month after just 12 months. It runs some 2000 pathology centres and 100 laboratories.
Breaking news on companies, politics and economics, in your inbox as it happens.
AFR BUSINESS SUMMIT
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.
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.
- Opinion
- Chanticleer
Why Shemara Wikramanayake is bullish (and you should be too)
Australia has the natural advantages and economic backdrop to outrun tepid growth forecasts, but top CEOs say we must make the right decisions and the right investments. Here’s how to do it.
- Exclusive
- Business Summit
HESTA pushes for climate-friendly directors at Woodside
The industry super giant is the first to move on what Paul Keating says will be a trend of funds using market power to seek influence on issues like energy transition.
Tuesday Tech
- Exclusive
- Start-ups
Joe and Vinay got a $1.5b Atlassian exit. They have lessons for founders
When Loom’s CEO first met Atlassian’s Scott Farquhar he wasn’t interested in selling, but four years later Atlassian bought his company at a $790m discount to it’s 2021 valuation.
Google in negotiations to strike new media deals
Unlike at Facebook, Melanie Silva says Google is renegotiating deals to pay local news companies, but pushed back on paying for content used to train AI models.
- Exclusive
- Funding
Senior staff exodus as high-value Sydney start-up struggles to scale
Dovetail, one of Australia’s most richly backed start-ups has suffered an exodus of crucial senior staff, as it struggles to keep customers and grow.
- 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.
- 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.
Get the latest business news on the go with the AFR’s new iOS app.
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.
Pokie rivals in bitter court dispute over dragon games
Aristocrat claims it has lost revenue and market share to its rival, which allegedly copied one of its top games. Light & Wonder described the lawsuit as baseless.
- 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.
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.
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.
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.
Virgin set to follow Qantas in raising fares
Airlines are increasing airfares as domestic demand remains robust and both carriers chase margin growth.
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Markets
Investors revisit ‘widow-maker’ trade ahead of Japan’s rate pivot
Fixed income managers are shorting government bonds amid growing speculation that Japan’s central bank will finally exit negative rates as soon as next week.
Magnificent Seven falter as strategists warn of risks to AI rally
Signs that the gains in artificial intelligence darlings like Nvidia have hit a speed bump are adding to concern of the risks lurking beneath the surge in the sharemarket.
- Opinion
- Cryptocurrencies
Bitcoin fanatics are rightly feeling vindicated
The most popular cryptocurrency is starting to look like more than a passing fad.
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.
‘This bull market has legs’: BofA’s Subramanian
There’s no comparison between the S&P 500 and three historical bubbles: tulips in 1637, technology stocks in 2000 and US housing in 2007.
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
Biden just prolonged the private equity jam
The dearth of deals has left buyout funds sitting on 28,000 unsold companies worth a record $US3.2 trillion ($4.8 trillion).
Columnist
The case for a nuclear-powered Australia
Australians will have a clear choice at the next election between Labor’s reckless “renewables only” policy, or the Coalition’s diverse mix of complementary technologies.
Opposition leader
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
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
Letting first home buyers tap their super could drive up house prices
Experts have warned that any proposal to let first home buyers access their super needs to be coupled with significant efforts to boost housing supply.
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.
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.
SPONSORED
World
Biden unveils big tax rises for rich, business in $11 trillion budget
The budget offers a stark contrast with Donald Trump’s economic plans ahead of November’s presidential election.
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.
Property
- Exclusive
- Tax avoidance
Couple who enjoyed $14m Sydney mansion accused of tax-dodging scheme
A husband and wife associated with a formwork subcontractor, and who once owned a $14 million trophy home, are facing claims they scammed the ATO of millions.
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.
Wealth
- Opinion
- Renewables
Green energy stocks have been belted. What comes next?
Dismissing the sector’s long-term potential based solely on short-term underperformance would be a mistake, writes James Wright.
- Opinion
- Inflation
Rates should start dropping within a year even if inflation is sticky
Sticky inflation will potentially keep rates at between 2.5 per cent and 3.5 per cent.
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?
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
Spurned, slighted, rejected: Oscar snubs critics will never get over
There are some movies and artists that memorably – and some would say outrageously – got the brush off from the academy.
A sneak peek inside Ginza’s new street-level luxe lodgings
The Edition’s second offering in the Japanese capital offers a more intimate alternative to the city’s high-rise hotels.
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.
‘Balletcore’ fashion takes centre stage – and not just for women
This season, designers are taking their cues from the stage and injecting collections with hyperfeminine looks that wouldn’t be out of place at the barre.
- 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.
