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- 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.
- Live
- Markets Live
ASX re-takes 7800 as Fortescue rallies, tech and real estate jump
ASX back near all-time high. ANZ says iron ore prices nearing a floor. McGrath rallies 25pc on buyout bid. Follow for more.
- 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.
Round-two underway for Perpetual breakup; bids land
The process has switched into the second round, although sell-side advisers are still only soliciting non-binding proposals.
‘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.
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.
- Live
- Need to Know
Business calls for 2pc increase to minimum wage
Andrew McKellar warns against increasing the minimum wage in line with inflation; Peter Dutton congratulates Tim Wilson for winning preselection for the seat of Goldstein. Follow updates here.
Breaking news on companies, politics and economics, in your inbox as it happens.
GRAND PRIX
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.
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.
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.
Scene of Lehrmann Thai massage snafu uncomfortably close for Murdochs
Rupert Murdoch’s eldest daughter Prudence MacLeod has been trying to buy a new home in Sydney; Southern Cross Austereo’s bankers ask for a stay of execution.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
McGrath backs buyout after ‘challenging ride’ on ASX
McGrath founder John McGrath concedes the company’s decision to go public has been tough and returning to private hands was the best outcome.
Big banks take four weeks to hand over a mortgage
The ACCC’s push to shrink the time it takes to discharge a mortgage from one big bank to another has failed to yield any gains for borrowers.
Childcare giant G8’s $46m ‘no admission’ settlement
Even with insurance, shareholders will still take a hefty hit after the board decided to settle for “commercial” reasons.
Perseus prevails in $270m bidding war over Tanzanian gold project
After seven months, the board of OreCorp has flipped its support and recommended shareholders back the takeover over a bid from Canada’s Silvercorp Metals.
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.
PwC appoints ex-Stockland exec as new chief people officer
PwC Australia hires Stockland’s Karen Lonergan as the big four firm continues to push through reforms to its operations following the tax leaks scandal.
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.
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.
- Exclusive
- Managed funds
Platypus appoints fund manager Jelena Stevanovic as CEO
The Sydney-based investor has been promoted to chief executive, where she hopes to grow the $5 billion money manager’s client base.
‘Sell the rally’: Citi turns bearish on lithium
Citi has joined Goldman Sachs in calling for a correction in lithium prices, suggesting that it’s time for traders to take profits following the recent rally.
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.
- 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.
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
Australia can’t muddle through Trump 2.0 – we need to plan now
A re-elected Donald Trump will be better prepared to reshape America’s place in the world. Australia and its allies must be ready too.
Asia expert
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
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
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.
- Exclusive
- ATO
The day a 34-year-old Sydneysider got a $116m tax bill
The Tax Office’s pursuit of a wealthy Taiwanese-Sydney family illustrates how investigations that take years can suddenly accelerate.
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.
Audit uncovers skipped tests, backfilled data on road project
Subcontractors helping to build roads have been faking tests, in one case backfilling data after layers of the road were laid down.
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.
SPONSORED
World
US, Japan plan biggest security upgrade 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.
Moscow attack exposes Putin’s weakness
After the concert attack, Vladimir Putin ignored a claim of responsibility by the Islamic State, tried to implicate Ukraine and mischaracterised a US warning.
High-flying Hong Kong bankers become a lost generation
Out of work or facing deep salary cuts, some fear that this is not even rock bottom as US-China geopolitical tensions fracture capital markets.
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
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.
Real estate investors turn to lawyers after ‘huge’ CO2 shock
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
CSIRO backs its long-term VC bet despite nil returns
The CSIRO’s VC fund has not returned a dollar to public coffers despite receiving $175m from taxpayers over seven years, but insists it is on track.
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.
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.
