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Supermarket break-up push ‘a wider economic risk’
Frustrated by political interference, business leaders want major parties to rule out a Greens bill this week to bust up Coles and Woolworths.
- Live
- Markets Live
ASX pushes back above 7800 as miners and energy stocks jump
ASX back near all-time high. ANZ says iron ore prices nearing a floor. McGrath rallies 25pc on buyout bid. Follow for more.
- Opinion
- Chanticleer
Macquarie’s new FOMO meter flashes red, points to these eight stocks
Macquarie’s new measure of investor sentiment should be a warning sign for those chasing this impressive rally.
- Exclusive
- Pubs
Debt-laden Adgemis mortgages mum’s and grandmother’s homes
The ex-KPMG dealmaker has denied the loans are related to the hospitality empire he is hoping to refinance.
McGrath backs buyout offer by Knight Frank, Bayleys
McGrath has entered into a scheme implementation deed with a consortium of Knight Frank and Bayleys that, if approved, will take it private.
Lambie demands integrity measures, rethink on Tassie AFL stadium
The minor party founder and federal senator says transparency and integrity issues will dominate as Tasmanian Premier Jeremy Rockliff tries to form government.
- Live
- Need to Know
Union leader arrested over pro-Palestinian port protest
The Sydney leader of the maritime union was arrested following a protest against an Israeli shipping company; the Australian Grand Prix F1 could become the largest in the world. Follow updates here.
Breaking news on companies, politics and economics, in your inbox as it happens.
GRAND PRIX
Sainz wins drama-filled F1 as Ferrari storm podium
Carlos Sainz won his first Australian Grand Prix after Max Verstappen suffered a dramatic car fire early in the race.
The bizoids learning to rev at the Grand Prix
Corporate types flocked bright and early to Albert Park’s Paddock Club, which by 2pm on Sunday was full to heaving for Melbourne’s Grand Prix.
Percat wins as Payne’s pain continues at Albert Park
Nick Percat has claimed his first Supercars win in four years in Melbourne as rookie Matt Payne’s nightmare weekend continued.
Ferrari upsets as who’s who flock to the Australian Grand Prix
Ferrari clinched first and second as a bevy of business leaders, billionaires and celebrities watched Australian rookie Oscar Piastri finish fourth.
Good luck finding a table: How F1 gave Melbourne its mojo back
Melbourne’s premium hotels and restaurants are near or at capacity this weekend ahead of the Australian Grand Prix, which is enjoying a boom as women and young people stream in.
monday media
Google’s secret meeting warns of AI threat to ad jobs
The tech giant hosted about 10 independent advertising agencies to underline that AI would start doing the more menial tasks automatically.
Trump Media merger wins investor approval
The deal clears a near-final hurdle for Trump Media & Technology Group and a potential windfall for the former president.
Disarm Meta’s nuclear option for news, indie publishers say
Should Facebook and Instagram be legally required to host news on their sites? A group of small and diverse news outlets believes so.
Bruce McWilliam, the man you never want in the other corner, retires
Billionaire Kerry Stokes’ corporate fixer and media executive is leaving the group. A sometimes divisive figure, he has advised the country’s most influential moguls.
Radio market overhaul as Southern Cross says it may accept ARN bid
The deal would merge the Hit and Triple M networks with the owner of the KIIS and Pure Gold stations in a major shakeup of the $700 million sector.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
WA’s ‘$1b’ TAB deal in strife as bookie dollars dry up
The WA racing industry wants a bookmaker to run its state-owned wagering operations but attempts to secure a deal have hit a major roadblock.
Backdoor listing for Accolade on the table in AusVintage deal
The largest shareholder in Australian Vintage, which owns the McGuigan and Tempus Two wine brands, says a Chemist Warehouse-style listing of Accolade makes sense.
Virgin set to ditch troubled Max 10 for smaller Boeing plane
Virgin Australia is sticking with plans to streamline its fleet, opting for smaller Max 8s over shifting to an Airbus equivalent, and with it, fewer seats.
Mining rock stars Beament and Finlayson face their reinvention tests
The divergent paths taken by Bill Beament and Raleigh Finlayson over the past two years sum up Australian mining’s green transition. Who’s on the right track?
- Opinion
- Chanticleer
The $5b whack: why it’s time to come clean to Star’s shareholders
As the sheriff runs Star executives out of town again, things are starting to look like a corporate assassination and the sort of battle investors cannot win.
CBA backs UK start-up improving screening for financial crime
Global Screening Services now counts CBA as a shareholder. It’s building standards for banks to check cross-border payments against sanctions lists.
- Exclusive
- Retail
CEO of Peter Lew’s fashion retailer Brandbank exits
After just nine months in the top at the multi-brand group, which includes Seed womenswear and kidswear and Allkinds skincare, veteran retailer Peter Halkett has left.
Companies in the News
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Markets
Small-cap funds hunt for ‘miniature seven’ to rival big tech
The Small Ordinaries is edging ahead of its large-cap rival, spurring hopes small caps can lure back the large investors. Here’s where the fund managers are investing.
- Opinion
- Shares
The market battle over secretive e-commerce play Cettire
There’s smart money on either side of the Cettire trade. But there remain unanswered questions about its closely guarded business model, writes Jonathan Shapiro.
Three reasons the tech bull run may be over
Peter Thiel, Jeff Bezos and Mark Zuckerberg are among bosses selling hundreds of millions of dollars in company shares in a sign that markets may be peaking.
Global sharemarket rally could push ASX 200 to new high
Hopes of rate cuts from major central banks in the first half of the year are continuing to buoy equity markets, making this week’s local inflation data pivotal for investor sentiment.
This hedge fund is backing bets Citadel and Millennium won’t touch
Multi-strategy hedge funds have swept the globe hoovering up talent into their highly levered investing style, but this New York-based fund can go where they can’t.
Opinion
A competitive Australia needs more than words
Treasurer Jim Chalmers is now asking the right questions about Australia’s future, even if he needs to find better answers.
Editorial
A British friend with important lessons for Australia
The UK is a good strategic partner for us. It is also a public policy laboratory for what works – and what does not.
Columnist
Stage three tax cuts haven’t blunted the impact of bracket creep
The top brackets will continue to inexorably sweep up a rising number of taxpayers with collateral damage to incentive and ambition.
It’s time to be honest about America’s commercial real estate hangover
Commercial real estate has tumbled into a debilitating pattern of “extend and pretend”: lenders have essentially rolled over troubled loans, hoping for a miraculous future Fed rescue.
Contributor
Penny Wong’s week of new foreign policy reality
The foreign minister is repairing relations with China while unsentimentally hedging against its military might. Eruptions from Paul Keating and Donald Trump are simply part of that reality.
Editorial
Green policy car crash complicates Labor’s election outlook
A series of competing and interlinked priorities are colliding in Labor’s Senate, where all eyes are turning to the next election.
Senior correspondent
Reports
AI’s brave new world
Artificial intelligence is being used by hackers to create ever more convincing fakes, but the technology is also giving our leading companies an edge.
Politics
Competitiveness alarm as Labor backs lift in wage floor
Another inflation-linked rise in minimum pay would ratchet the three-year increase to 18 per cent, sparking an investment warning from the Business Council.
Union leader charged over pro-Palestinian port protest
The Sydney leader of the maritime union is among 19 pro-Palestinian protestors who were arrested overnight following a rally against an Israeli shipping company.
New minimum tax laws could fast track reporting
Multinationals and some of Australia’s biggest businesses could be forced to beef up financial reporting if new a corporate minimum tax rate passes parliament before July 1.
Inside Australia’s turbocharged battle against hackers
Australian Signals Directorate boss Rachel Noble says the agency’s $5 billion threat-sharing partnership with Microsoft is a “force multiplier”.
These are the biggest fears for renewables investors
Finding the right blend of risk and return is the biggest headache for climate investors, a new survey shows.
SPONSORED
World
‘Tortured’ suspects appear in Moscow court as Russia mourns
Three of the four men were officially identified as citizens of Tajikistan, according to Russian media. They appeared in court badly bruised and disorientated.
US, Japan plan biggest upgrade to security pact in more than 60 years
Joe Biden and Fumio Kishida are to announce the move to counter China at a White House meeting next month.
Royals ‘enormously touched’ by support after cancer announcement
Kate’s statement via a video message, which was filmed at Windsor Castle, triggered an outpouring of support from well-wishers.
- Analysis
- Putin's Russia
‘I pretended to die’: Moscow attack survivors describe miraculous escapes
Russia’s worst terror attack in over a decade has brought a shudder across Europe, where memories of other music venues turned to slaughterhouses have resurfaced
China at ‘fork in the road’ on reforms to boost demand
IMF head Kristalina Georgieva says the world is heading for subdued growth.
Property
Booming suburbs where house prices surged more than 20pc in 12 months
House prices in hundreds of suburbs nationwide jumped more than 20 per cent in the past 12 months, despite three interest rate rises, surging cost of living and worsening affordability.
Property investors face ‘huge’ renovation bill to lower emissions
Property owners across Europe will need to invest vast sums in renovations to ensure their buildings are not emitting illegal levels of carbon dioxide.
House prices on the march as buyers get in before rate cuts
House prices are set for another strong rise this month as the busiest auction weekend of the year pointed to strong demand. But investors are getting out.
Where Australia’s top investment bankers live
Privacy, prestige and access to the best schools in Sydney mean these suburbs are where deal makers call home.
Tax uncertainty keeps build-to-rent investors away, developers say
A lack of clarity about new rules for offshore investors is slowing the development of much-needed housing.
Wealth
Tax cuts fail to beat inflation for high earners
Failure to recoup seven years of tax bracket creep under the stage three income tax cuts will leave high earners $6400 behind, new analysis shows.
What to do with a big inheritance
Around $10 billion worth of shares, cash and property is bequeathed every month in Australia. Experts weight in on how to manage a windfall.
How investors get risk wrong
Contrary to popular wisdom, more volatile stocks do not outperform.
Technology
One AI hacking tool has fallen. Others will rise to take its place
A baffling incident from Hong Kong, where a worker was fooled by deepfake colleagues into sending fraudsters $US25 million, shows the risks that companies are facing.
Keep AI on a tight leash or embed bias, experts say
AI’s potential to reinforce discrimination is one of its most worrying effects. New regulations aim to keep the powerful technology in check.
US accuses Apple of exploiting smartphone market
The iPhone maker is being accused of violating antitrust laws by blocking rivals from accessing hardware and software features on its popular devices.
Work & Careers
- Exclusive
- Private schools
Emails revealed as ousted Cranbrook head hires top silk
If Cranbrook governing council thought a quick resignation from headmaster Nicholas Sampson would bring about a swift end to its media agony, it was wrong.
- Opinion
- Investment banking
Why billable hours could fix investment banking’s gender pay gap
Investment banking has one of the country’s largest gender pay gaps. But why is it so different to law?
Life & Luxury
Ferrari upsets as who’s who flock to the Australian Grand Prix
Ferrari clinched first and second as a bevy of business leaders, billionaires and celebrities watched Australian rookie Oscar Piastri finish fourth.
- Driving With Tony Davis
- Motoring
Porsche brings its all-electric race car to Australia
Porsche has shown off its prototype electric race car, the GT4 e-Performance, as it rolls on with plans for a parallel Cup series.
How to spend 48 hours in Istanbul
With new flights starting and a free stopover included, it’s time to tick Türkiye’s biggest city off your bucket list.
Winx’s first foal is for sale. She’s expected to make history.
The birth was one of the toughest endurance tests for Australia’s champion mare Winx. Now her filly could break another record.
Yarra Valley winery unveils $7m refurb
Victoria’s Balgownie Estate has had a revamp after a major fire in 2020.
