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- Updated
- Interest rates
RBA keeps rate rise in reserve
A sharper-than-expected fall in inflation may lead the RBA to cut rates sooner than expected, as it shifts to a more neutral stance on the monetary policy outlook.
ASX to rise, Dow paces gains on Wall Street
Australian shares are poised to open higher. US markets await Fed economic projections. Oil, iron ore advance. Bitcoin extends slide.
Frantic emails show underwriters’ shock at Greensill Group exposure
The documents, filed in the Federal Court, also reveal Australian regulators were warned nine months before the fast-finance business imploded.
Why a glass box in Sydney’s CBD is sending sports nerds wild
It’s got a reputation for being an “old man’s sport”, but squash is having a moment in the sun – and in Sydney’s Martin Place.
Judge led through ‘sideloading’ Fortnite – and finds it all too hard
Justice Jonathan Beach hadn’t even got to the scary stuff yet, when he said he would have already given up trying to install an app on an Android phone without using Google’s Play Store.
Long Magnificent Seven still the most crowded trade
Global fund managers are the most optimistic they have been on growth expectations, cash levels and equity allocation since January 2022, Bank of America said.
NAB, Virgin Money prevail in British lawsuit
National Australia Bank and its former UK unit, Virgin-owned Clydesdale, have fended off what could have become a potentially costly class action.
- Driving With Tony Davis
- Motoring
‘This is how I do it’: Oscar Piastri takes us on a hot lap of Albert Park
- Drinks With Max Allen
- Winemakers
This is one of the best wines I’ve tried all year
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Edition
Fin Magazine - autumn 2024
Read about an artist’s intriguing sanctuary, Lotus’ latest electric sedan, New York’s coolest new hotel and more inside Fin Magazine’s first issue of 2024.
rba decision
- Opinion
- Interest rates
Bullock pivots on interest rates in last-mile inflation run
Ever so gently, the RBA board has dialled back its outlook for interest rates, but governor Michele Bullock remains alert to the bumpy ride ahead.
RBA to watch for ‘spillover’ from aged care pay rise
Michele Bullock will be alert to the effects from the “very worthy” 14 per cent wage increase but says this is unlikely to shift forecasts for inflation.
- Opinion
- Chanticleer
The next big question investors must ask about the RBA
Interest rates will fall. But we’re not going back to the days of super low rates – and that poses a fascinating question for the Australian economy.
What the cash rate means for REITs
While further property write-downs may come in June, there may be little more beyond that as the outlook for interest rates turns favourable, says Citi.
- Opinion
- RBA
Michele Bullock is right to move cautiously on interest rate cuts
There are reasons to suspect that domestic inflationary pressures, from income tax cuts to wage pressures, could prove even more stubborn than in the US.
PROFESSIONAL SERVICES
Shock death of CEO stuns HWL Ebsworth
Australia’s largest legal partnership is facing a succession crisis after Juan Martinez, its managing partner for 26 years, died on Monday of a suspected heart attack, aged 64.
Deloitte restructure ‘year in the making’
Deloitte Australia CEO Adam Powick says a global restructure will strip out duplicated roles and make it easier to respond to client needs.
Why this strategy consulting firm avoids cutting staff during a downturn
Strategy consulting firms have to bide their time during recessions until clients have exhausted ways of quickly cutting costs, says a veteran of the field.
Competition law guns line up for Epic case
Neil Young, KC, will charge over $25,000 a day for his services in the court fight between Epic Games, Apple and Google. He’s just one of the top silks involved in the 16-week case.
Gavin MacLaren and the Corrs objectors
There was internal dissent to Corrs CEO Gavin MacLaren’s mega-contract extension. Some came from within its own employment ranks.
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Companies
Boral independent directors say Stokes’ bid undervalues group
Boral’s minority shareholders were urged to reject Seven’s bid, based on an independent expert finding the shares are worth up to $7.13. Ryan Stokes disagrees.
NAB, Virgin Money prevail in British lawsuit
National Australia Bank and its former UK unit, Virgin-owned Clydesdale, have fended off what could have become a potentially costly class action.
Ban Coles, Woolworths from making suppliers pay for marketing: Bellamy
The Bellamy’s Organic founder helped lead the fourth-largest baby formula producer in Australia. He says the supermarkets can make or break brands.
Rio bows to investor pressure on green-steel spending
Big investors led by Fidelity and the Australian Council of Superannuation Investors have twisted its arm regarding disclosures.
Aussie Broadband alleges Superloop sell order ‘oppressive’
Aussie Broadband has taken rival internet broadband provider Superloop to court, claiming an order by the smaller company to slash its stake could cost it $3.7 million.
- Updated
- Retail
Cettire overhauls duties and returns policy
The company will no longer disclose what customs charges are owed on goods at its online luxury marketplace, and has streamlined other customer features.
- Exclusive
- Investment banking
Rugby Australia’s Pip Marlow joins Bank of America board
The former Microsoft and Salesforce boss has become an adviser to the US investment bank’s local business, joining Megan Clark and Kevin Skelton.
Companies in the News
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Markets
Wall St’s average 2023 bonus slips to $270,300
The 2 per cent decline from 2022 reflects a more conservative approach to paying bonuses and an increase in the number of people working in the industry.
BofA’s strategists at odds over presence of ‘euphoria’ in stocks
The bank’s head of US equity and quantitative strategy disagrees with the firm’s chief investment strategist on the outlook for the S&P 500.
Bank of Japan scraps negative rates in historic policy shift
One of the world’s largest economies has finally joined the rest of the world’s central banks in taking steps to tackle inflation.
Rate cut hopes grow after RBA softens rhetoric
Australian bond yields and the $A retreated after investors seized on subtle changes to the Reserve Bank’s monetary statement, declaring a subtle “dovish” shift.
- Exclusive
- Investment banking
Rugby Australia’s Pip Marlow joins Bank of America board
The former Microsoft and Salesforce boss has become an adviser to the US investment bank’s local business, joining Megan Clark and Kevin Skelton.
Opinion
Bullock’s nagging fear for ‘the last mile’
The governor’s failure to give firm guidance on interest rates in her press conference reflects genuine uncertainty about the end of the inflation fight.
Editorial
Power prices to fall but interest rates on indefinite hold
The government is relieved that energy prices will go down a little from July, but the timing of interest rate cuts is far less certain.
Columnist
Bullock pivots on interest rates in last-mile inflation run
Ever so gently, the RBA board has dialled back its outlook for interest rates, but governor Michele Bullock remains alert to the bumpy ride ahead.
Economics editor
Michele Bullock is right to move cautiously on interest rate cuts
There are reasons to suspect that domestic inflationary pressures, from income tax cuts to wage pressures, could prove even more stubborn than in the US.
Columnist
Greens’ farming ‘crisis point’ is rubbish
The Greens are using farmers as allies of convenience to pursue their left-wing populist campaign against the supposed price and profit gouging of Coles and Woolworths.
Editorial
Senate a sticking point for four-year terms
The conundrum that must be squarely faced is 1988’s defeated take-it-or-leave-it constitutional amendment that rolled in a shorter term for the upper house.
Professor Emerita
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
Labor bungling tax reform consultations: big business
Corporate leaders say Labor’s changes to tax rules covering thin capitalisation are effectively retrospective, ahead of legislation being introduced to parliament as soon as this week.
Ban Coles, Woolworths from making suppliers pay for marketing: Bellamy
The Bellamy’s Organic founder helped lead the fourth-largest baby formula producer in Australia. He says the supermarkets can make or break brands.
Fresh from GST windfall, WA hands out payments of $250 per child
The WA government will hand out $100 million to families of school-aged children as part of a cost-of-living package, with no rules on how the cash is spent.
Coalition won’t be ‘Labor lite’ on fuel standards: Dutton
The Coalition will never support Labor’s fuel efficiency standards regardless of how many concessions are made.
Business chiefs to plead for predictability from Beijing
Chinese Foreign Minister Wang Yi will hold a lunch with CEOs and think-tank chiefs as part of his visit to Australia.
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World
Biden warns Netanyahu: Rafah attack a ‘mistake’
The Israeli prime minister has agreed to send a delegation to Washington to discuss an alternative plan for Gaza.
Mike Lynch depicted as both scam artist and visionary in HP trial
The contrasting portraits of Mr Lynch, 58, emerged at the start of a criminal trial revolving around HP’s 2011 acquisition of British software maker Autonomy.
- Opinion
- Israeli-Palestinian conflict
Biden must show Netanyahu who’s in charge
The US president must apply far more pressure on Israel’s prime minister to pull back on his military attacks in Gaza that have left thousands of civilians dead.
China accuses Evergrande of ‘shocking’ $119b fraud
The allegations mark the latest blow for founder Hui Ka Yan, once among Asia’s richest tycoons, who oversaw an empire that spanned real estate to electric vehicles.
How Nationwide’s bet on Virgin Money risks backfiring
Bulking up by buying Virgin Money would potentially allow Nationwide to capitalise on Labour’s reforms should the party form the next British government.
Property
Visas for tradies, planning reforms crucial to lifting housing supply
Developers have called for the fast-tracking of visas for skilled construction workers among a raft of measures needed to tackle the housing supply crisis
Rate pause to lure home buyers back
An extended rate pause could lure home buyers back into the market, but it could fuel a rise in distressed sales.
Why the Paris Olympics will be a modest showcase of wood architecture
Every host city tries to use the Olympics to power a transformative project. Paris 2024 wants to make sustainability, not monumental construction, its legacy.
What the cash rate means for REITs
While further property write-downs may come in June, there may be little more beyond that as the outlook for interest rates turns favourable, says Citi.
Lang Park to host Brisbane 2032 ceremonies after review rejected
Lang Park will be the site of opening and closing ceremonies while the old venue for the 1982 Commonwealth Games will be upgraded to host athletics.
Wealth
CEO tells how he almost transferred $25m to scammers
Scammers use LinkedIn to find wealthy individuals and C-Suite executives before pouncing when they are at their most vulnerable, like after an overseas trip.
- Opinion
- Commercial real estate
‘Narrow window’ to snap up commercial property bargains
With institutional capital still watching on the sidelines, smaller investors have the chance to pick up quality assets at discounts as high as 30 per cent.
How this billionaire is making his staff rich
The recent surge in WiseTech’s share price means Richard White isn’t the only one making money. Staff are sitting on a $320 million fortune.
Technology
Judge led through ‘sideloading’ Fortnite – and finds it all too hard
Justice Jonathan Beach hadn’t even got to the scary stuff yet, when he said he would have already given up trying to install an app on an Android phone without using Google’s Play Store.
- Analysis
- AI
Cheat sheet: what Nvidia has launched, and why so many people care
Everyone knows that Nvidia is the most important company in the AI world right now, but what did it actually release on Tuesday, and what does it do?
Nvidia unveils ‘super chip’ in push to extend AI dominance
Chief executive Jensen Huang claimed the company’s new Blackwell chips are substantially more powerful than its already market-leading ones.
Work & Careers
- Exclusive
- Workplace
Hundreds of Bupa workers trial nine-day fortnight
Private health insurer Bupa has joined the growing ranks of white-collar employers experimenting with a nine-day fortnight.
- Opinion
- Workplace culture
Drug use at work isn’t biohacking. It’s workaholism
Even if anecdote-driven reports oversell the problem, it’s clear that the “just say no” and “this is your brain on drugs” eras are a relic of the past.
Life & Luxury
The Nike exec who literally jumped hurdles to climb the career ladder
After sleeping in a horse float and training for eventing, Sandra Hore finds horse riding provides plenty of lessons about life and business.
Intermittent fasting may pose risks to your heart
A surprising new study has found that some intermittent fasters are more likely to die of heart disease.
- Drinks With Max Allen
- Winemakers
This is one of the best wines I’ve tried all year
The latest vintage of Dalwhinnie’s Eagle shiraz has landed – and it’s easily the best young Eagle I can remember tasting.
Dior brings men back into the fold with a reimagined classic watch
Resurrecting a previous model is hardly unusual in the watch world, but success is never guaranteed.
How this manufacturer made it to the runways of Paris and New York
Melbourne Textile Knitting’s Stephen Morris-Moody has always been a dyed-in-the-wool fan of yarn. Now he’s taken his work to Calvin Klein and Ralph Lauren.
From the gallery
The Australian Financial Review Magazine
The Nike exec who literally jumped hurdles to climb the career ladder
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BOSS Financial Review
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- 2 mins ago
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