Aged care workers win pay rises of up to 14pc, fuelling inflation fears
More than 300,000 aged care workers have won large pay rises that are expected to increase wage pressures on other sectors and cost the budget billions.
Fresh wave of immigration detainee releases expected
The Albanese government is bracing for a fresh wave of High Court cases – and rulings – against the powers to hold people in immigration detention indefinitely.
‘Mathematically challenged’: States’ spat over GST gets personal
Even states such as Victoria and Queensland that would probably benefit from NSW’s push to distribute GST on a per-person basis say the proposal is unfair.
- Opinion
- Chanticleer
Tabcorp’s woes go much further than CEO scandal
The ugly departure of Tabcorp’s CEO leaves his successor with myriad problems, from the end of the pandemic punting boom to a potential advertising ban and cultural issues.
The Langham takes on giant developer in $2.4b Sydney Harbour stoush
Langham Sydney says a major Sydney CBD development by Chinese-backed Aqualand will block its harbour views and send its guests looking for other accommodation.
When it comes to how we pay, Apple is coming for the big banks
Commonwealth Bank boss Matt Comyn says policymakers need to be alert to the dangers of ceding important industries to global tech platforms without scrutiny.
How the least divided place in America feels about Trump’s return
In the land of billionaires, of all political stripes, the only downside will be the traffic jams.
Breaking news on companies, politics and economics, in your inbox as it happens.
WEEKEND READS
$50,000 to join a golf club? Members are coming in droves
Not only are the top clubs extremely expensive, they’re also extremely secretive. And in high demand.
This is what it’s like to live in North Korea’s firing line
Kim Jong-un, now on a war footing, has been emboldened by its closer relations with Russia and China. That’s a problem for South Korea’s Yeonpyeong Island.
The wealthy are in the crosshairs for ever-rising aged care costs
Richer Australians will pay more for aged care under a long-awaited government review released this week. Is this the start of a new trend?
- Opinion
- Lunch with the AFR
‘Asian countries feel their time has come’: why the West must adapt
The best-selling historian Peter Frankopan says that the rise of Asia and rising global temperatures will force the West to rethink its future and its history.
The rise and rise of crazy rich Indians
Wealth managers on the subcontinent expect the number of dollar millionaires to expand by 15-20 per cent a year.
smart investor
Superannuation funds have quietly started paying retirement ‘bonuses’
Super funds are paying out millions of dollars in retirement “bonuses”. But what are they, and does your fund offer one?
- Opinion
- Inflation
Inflation risks unravelling the rally
While the “everything” rally has excited risk junkies, inflation might spoil the party again, writes Christopher Joye.
The ‘better way’ to build wealth than property investing
Speculating on residential real estate is a national sport but Koda Capital financial adviser Sebastian Ferrando sticks his neck out to argue that it’s a wealth trap.
- Opinion
- Budgeting
The seven mind tricks brands use to keep you spending
Brands use sophisticated tactics to encourage you to spend more.
- Opinion
- Life insurance
There are good reasons to have insurance in an SMSF
An SMSF is allowed to claim a tax deduction for insurance premiums.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Woodside rebuffs activist push against chairman on climate
The board said it “strongly disagrees” with activist shareholder groups seeking to block Richard Goyder’s re-election and to reject the remuneration report.
Tabcorp boss allegedly suggested sexual favour for regulatory win
Adam Rytenskild resigned from the wagering group on Thursday, but said he did not recall making the comment, which was directed at a Victorian official.
Gupta’s Australian steel business helps prop up global empire
InfraBuild made loans to other parts of the Sanjeev Gupta empire, even though its own profits slumped 75 per cent and it began paying a crippling 14.5 per cent rate on new debt financing.
ASX quizzes Westpac on persistent CEO exit speculation
The approach was informal, and came after the bank’s new chairman, Steven Gregg, met with analysts and investors. Westpac downplayed the suggestions.
- Exclusive
- Private equity
Zimmermann’s PE owners to open Australian office
Advent International has set its sights on its first local office, a move that comes as more buyout shops increase their Asian exposure toward Australia.
ARN ups its offer in ‘frustrating’ Southern Cross Austereo takeover
The company that owns the KIIS and Pure Gold radio brands has spent five months trying to buy its rival. It just increased its bid.
Nine’s news chief steps down after month-long absence
Darren Wick had led the broadcaster’s news division for 13 years. He told his staff on Friday that he would not retire but instead take a “very long break”.
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Markets
Sticky inflation stops bull run in its tracks ahead of rate call
Surprisingly strong price increases in the US startled local markets, quickly wiping the rally that drove benchmark S&P/ASX 200 to a record high last week.
Australian Craig Wright did not invent bitcoin, UK judge rules
In a surprise snap verdict, an English judge said Wright was not bitcoin creator Satoshi Nakamoto, potentially ending almost a decade of fevered speculation.
What happened overnight? US price data bolstered the case for higher for longer rates
Shares ended lower in New York, though they pared losses late. Tesla extended its slide, Nvidia fell too. US producer prices were sharply higher than expected.
- Opinion
- Chanticleer
The two tectonic shifts in markets that will decide the next decade
Are we headed for a world of higher rates, lower growth and more volatility, or will AI unleash a deflationary wave?
US retail sales miss expectations; producer prices accelerate
The duelling data provide the Federal Reserve with more reason to delay the start of a pivot to interest rate cuts.
Opinion
GST system is paying for lost principles
The GST formula was meant to take the politics out of the system. Now we should be asking if the incentives were wrong in the first place.
Editorial
Why Australia faces hard choices and hard work to grow
From decarbonisation to digital transformation to new geopolitical risks, there are a lot of potential speed bumps ahead. And no guarantee of success.
Columnist
There are plenty of reasons why inflation just won’t come down
Consumers, it appears, are used to paying higher prices, especially when finances are in relatively good shape. Some fear that means rates won’t come down.
Columnist
TikTok made me write this – and it’s time for it to go
TikTok’s influence on young Australians goes beyond free speech and into sinister realms of undue influence.
Columnist
Rock star economists are prophets with nothing to say
This week’s sharpest economic analysis came not from left-leaning economists on tour in Australia, but from BlackRock global strategist Wei Li at The Australian Financial Review Business Summit.
Editorial
Dutton’s nuclear push could take on political life of its own
The zero-emissions power source adds up on some fronts, but there’s still a whiff of crazy about the whole push.
Political editor
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
Keating pressed Chalmers on Origin-Brookfield deal ‘scam’
Secret Treasury documents reveal former PM Paul Keating pressed the treasurer to reject Canadian private equity giant Brookfield’s $20 billion Origin tilt.
‘Mathematically challenged’: States’ spat over GST gets personal
Even states such as Victoria and Queensland that would probably benefit from NSW’s push to distribute GST on a per-person basis say the proposal is unfair.
Australia ends freeze on $6m for Palestinian aid agency UNRWA
Australia joins Canada, Sweden and the European Union in restoring funding for the organisation after at least 12 countries froze payments in January.
Greens claim farmers are in crisis. The data doesn’t back it up
The fruit and vegetable sector is expected to be bolstered by strong production growth over coming years despite the Greens claims that Australian farming is at “crisis point”.
NSW push to ditch GST formula
NSW Premier Chris Minns wants to tear up the nearly 50-year-old system of distributing federal tax money between states after claiming to be dudded in the latest GST carve up.
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World
Why the US-China economic split is widening
As the ‘decoupling’ of the two giant economies gathers pace, the fallout will both help and hurt Australia.
How Blundstone quietly conquered Britain
A decade ago only Aussies in London wore Blunnies. Now they’re ubiquitous, and are a lifestyle choice as much as a work boot. Appealing to women was key to success.
This is what it’s like to live in North Korea’s firing line
Kim Jong-un, now on a war footing, has been emboldened by its closer relations with Russia and China. That’s a problem for South Korea’s Yeonpyeong Island.
South Korea sends scandal-hit ambassador to Australia
The arrival of South Korea’s former defence minister in Canberra this week has made headlines in Seoul, where the opposition accused him of fleeing the country.
‘Lost his way’: Top US Democrat Schumer calls for Netanyahu to go
US Senate Majority Leader Chuck Schumer harshly criticised Prime Minister Benjamin Netanyahu and called for new elections in Israel.
Property
- Exclusive
- Luxury property
‘Kaftan Queen’ Camilla Franks farewells eclectic home in Sydney’s east
The fashion designer’s Woollahra home is about to hit Sydney’s prestige market as she prepares for her Bondi return.
- Exclusive
- Luxury property
Toorak estate of late David Hains sells for $40m
The Toorak home of late Melbourne billionaire David Hains has sold for about $39 million after a year-long campaign.
How cool is your office? Come inside Amazon’s Collins Street HQ
While the WFH debate rages on – office mandates versus work from where ever – a new swing factor has emerged: how comfy and convivial is your office?
The suburbs where apartment prices are accelerating
Apartment prices have rebounded sharply in the past three months in what could be an early sign of a recovery in the sector.
- Exclusive
- Property development
Tim Gurner prepares for housing rebound with latest luxury offering
Tim Gurner has submitted plans for an $800m luxury apartment project on Melbourne’s St Kilda Road and says a rate cut will fuel a quick housing rebound.
Wealth
Superannuation funds have quietly started paying retirement ‘bonuses’
Super funds are paying out millions of dollars in retirement “bonuses”. But what are they, and does your fund offer one?
- Opinion
- Budgeting
The seven mind tricks brands use to keep you spending
Brands use sophisticated tactics to encourage you to spend more.
The ‘better way’ to build wealth than property investing
Speculating on residential real estate is a national sport but Koda Capital financial adviser Sebastian Ferrando sticks his neck out to argue that it’s a wealth trap.
Technology
- Exclusive
- Cryptocurrencies
ATO papers allege claimed Bitcoin ‘creator’ doctored documents
Self-claimed bitcoin inventor Craig Wright allegedly made than $3 million in false R&D tax claims for his technology companies before leaving Australia in 2015.
ASIC loses crypto case against Finder
Finder and co-founder Fred Schebesta say it won’t reinstate the Finder Earn cryptocurrency offering despite the corporate regulator losing its court claim that it was a financial product.
Meta claims it gives news publishers $115m in free traffic every year
The company behind Facebook, WhatsApp and Instagram said that it did not steal content from publishers but provided them with free clicks – valued at 5¢ each.
Work & Careers
Why staff are job hunting more than ever before
The high cost of living has generated rising employee fears about job security and prompted record numbers of people to consider changing jobs, new data shows.
‘Covert’ sex harassment rife at WA mines
The mining industry has a long way to go to stamp out systemic harassment of women, a study has found.
Life & Luxury
Why this producer of Aussie musicals makes his sets in Britain
Tax rebates on up to 40 per cent of production costs incurred in the UK are driving investors away from backing Australian show-makers, the live performance industry claims.
- Opinion
- Lunch with the AFR
‘Asian countries feel their time has come’: why the West must adapt
The best-selling historian Peter Frankopan says that the rise of Asia and rising global temperatures will force the West to rethink its future and its history.
Bougie bubbles, lo-fi lovers: inside a next-gen wine show
Max Allen translates a Melbourne hipster drinks event for his generation.
This week’s edits of lovely little luxuries: winter boots to beach art
Beautiful Millwoods boots that age gracefully and hand-painted tiles for the home, we have inspired suggestions for you.
A bucket-worthy holiday destination for the person who has everything
It’s been 50 years since Bhutan opened to foreign travellers. Now the Himalayan kingdom is adding to its catalogue of luxury resorts.
