Visa rejections hit record as overseas students top 700,000
There were 713,000 international students living in Australia in February, but a corner has been turned as visa rejections pile up.
Ten wins bid to reopen Lehrmann case
Former Liberal staffer Bruce Lehrmann allegedly leaked thousands of pages of confidential documents to Seven, then lied about it under oath, a court has heard.
Macquarie, PSP ready to part with 88pc of AirTrunk; DD kicks off next week
Street Talk has obtained as much detail as any of the carefully vetted bidders currently signing the non-disclosure agreements.
Sydney Airport earnings more than double to $1.2 billion
Australia’s biggest airport, now privately owned by big global infrastructure funds, is benefiting from the resurgence in flying in Australia and around the world.
Rents rise 11pc in Victoria as investors flee: NAB
Victorian property investment declined last year while advertised rents increased by 11 per cent, according to new data from NAB.
‘Tsunami’ of headwinds faces builders as collapses surge by a third
The latest official figures point to a 32 per cent increase in insolvencies across the sector this financial year.
‘We’ll stay off your backs’ Dutton tells business leaders
Peter Dutton has promised business leaders cheaper energy prices and less government interference under the Coalition.
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legal affairs
Oil Search investigation found executives ‘felt belittled’ by MD
Part of the report was read out in court, with former chief financial officer-designate Ayten Saridas suing the company for alleged bullying and harassment.
- Analysis
- Lehrmann trial
Lehrmann judge to test ‘lipstick on a pig’
Is it any surprise that the Lerhmann defamation trial will go into overtime?
Uber admits to illegal activity at launch in Australia
A Melbourne trial to judge if Uber unfairly scuttled a rival’s business has begun with the ridesharing giant admitting it operated illegally in Australia a decade ago.
Fortnite billionaire admits he loved, deceived Apple
When you get one of the world’s richest and most popular computer nerds into the witness stand for sworn testimony, what’s the first question you want to ask them?
Retired judges demand $3m super tax exemption
Extending the tax increase to judicial pensions could endanger the courts’ independence and drain talent from the bench, judges warned Treasury.
tuesday tech
- Exclusive
- Start-ups
How Macquarie’s $46m investment in an Aussie tech firm turned into $1
Macquarie Capital poured $46m into Plutora, but sold its stake for a dollar, and administrators have met to try to figure out what is left in its operations.
- Analysis
- The Breakdown
‘AI honeymoon is over’, Canva co-founder declares
Just two years after the last technology bubble burst, investors shouldn’t mistake AI tools that look like magic for a business model that is.
Uber’s ‘espionage plot’ to ‘crush’ Packer-backed rival GoCatch
Well before the ride-sharing giant dominated, it had a big local rival. This week, Victorian courts will hear explosive claims of how it killed the competition.
- Exclusive
- Cloud
Google ‘ghosts’ Aussie staff on promotions as cloud boss quits
The boss of Google’s local cloud division has resigned, with employees saying it has scaled back promotions as it struggles to compete with Amazon and Microsoft.
- Opinion
- Digital Life
Big house? This new security camera can reach into every corner
Swann’s new MaxRanger4K AI-based security camera system uses a new type of WiFi with a range of hundreds of metres, if not thousands.
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Companies
- Updated
- Defence
South Korea’s Hanwha a ‘credible buyer’ for shipbuilder Austal
The ASX-listed group has rejected a bid from the defence and aerospace conglomerate after warning it would probably fail to gain required government approvals.
- Analysis
- Lehrmann trial
Lehrmann judge to test ‘lipstick on a pig’
Is it any surprise that the Lerhmann defamation trial will go into overtime?
Cettire shares slide 16pc on Bell Potter downgrade
The company’s house broker said the luxury marketplace would continue to outperform peers, but it would be harder for it to generate high growth.
- Exclusive
- Cash economy
Banks ramp up plans for cash disruption after Armaguard deal fails
One option being considered is for smaller cash couriers to step in if the monopoly money transport business owned by Lindsay Fox collapsed.
Sydney Airport earnings more than double to $1.2 billion
Australia’s biggest airport, now privately owned by big global infrastructure funds, is benefiting from the resurgence in flying in Australia and around the world.
Origin Energy suitor EIG nabs stakes in three major LNG projects
The private equity group, partly owned by Saudi Aramco, has made three investments in ventures run by Woodside, Chevron and Shell and will open a local office.
Oil Search investigation found executives ‘felt belittled’ by MD
Part of the report was read out in court, with former chief financial officer-designate Ayten Saridas suing the company for alleged bullying and harassment.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
$A hit as strong US data dents rate cut hopes
The local currency is back below US65¢ after traders pushed back the likely timing of the first rate cut by the Federal Reserve and the Reserve Bank of Australia this year.
- Opinion
- Interest rates
Investors fear Fed will abandon three rate cuts this year
The sell-off in US bond markets suggests investors are anxious that stubborn US inflation will force the Fed to opt for “one and done”.
ASX retreats from record high; gold miners rally, Mesoblast soars 70pc
Shares end in the red after resetting record high. Cettire and Orora sink. The Reserve Bank of Australia softens language in latest meeting. Iron ore rebounds after Monday’s rout.
Inflation set to ease, but it will be bumpy: survey
While higher prices are forecast to ease, economists warn that should inflation reignite, the RBA will stand pat on rate cuts at least for this year.
RBA will struggle to cut rates this year: survey
The RBA is expected to be the last major central bank to start cutting interest rates and economists predict the cash rate will remain on hold at least until November.
Opinion
As NATO turns 75, Ukraine war remains a test of wills with a tyrant
Supporters of Ukraine must act quickly, lest the 75th anniversary of the key Western alliance instead marks a collapse of will and capacity in Ukraine.
Editorial
Reserve Bank ponders the market plumbing
The Reserve Bank board is repurposing the financial system as its cheap pandemic funding is flushed out. It’s doing it as financial markets are only too happy to splash the cash.
Senior reporter
Investors fear Fed will abandon three rate cuts this year
The sell-off in US bond markets suggests investors are anxious that stubborn US inflation will force the Fed to opt for “one and done”.
Columnist
Can Australia compete in the new post-inflation world?
The “new neutral” medium-term interest rate will make global competition for capital far more intense. The country needs to get ready for that.
Economics professor
Putin waiting for Washington to collapse if Trump wins
The Russian leader sees an opportunity to re-establish a sphere of influence in Europe if Donald Trump is re-elected US president.
Columnist
Solar fantasy gives industry policy a bad name
Australia does not have a great record at industry policy. Creating a bucket of government money for solar panels in the midst of a global subsidy war looks even less likely to work.
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
Population surge and smaller households fuelling home prices: RBA
The resilience of the housing market recovery could make the RBA reluctant to deliver cuts to the cash rate later this year, according to economists.
‘We’ll stay off your backs’ Dutton tells business leaders
Peter Dutton has promised business leaders cheaper energy prices and less government interference under the Coalition.
Bet ‘significant’ public money on renewables stakes: Combet
The incoming chair of the nation’s sprawling $212 billion Future Fund says it’s time to return to public investment in green energy.
Ramsay Foundation splashed $7m on failed Voice campaign
Rich Listers, major charitable foundations and big corporates spent millions on last year’s Indigenous referendum.
NSW clubs ‘acutely aware’ of money laundering laws
Lobby group ClubsNSW said its members had recently met with the financial crime watchdog to ensure they were complying with anti-money laundering laws.
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World
‘Full accountability’: PM seeks answers over Aussie aid worker death
Anthony Albanese says the death of 43-year-old Zomi Frankcom due to an Israeli airstrike in the Gaza Strip was “beyond any reasonable circumstances”.
Police say 12yo child carries out school shooting in Finland
Finnish police say a 12-year-old shot and killed a classmate and seriously wounded two others in a suburb of Helsinki, shocking the nation.
US and UK sign landmark agreement on testing safety of AI
The deal represents the first bilateral arrangement on AI safety in the world and comes as governments push for greater regulation.
US pushes Israel to halt Rafah invasion in ceasefire talks
The US-Israel talks focused on the potential operation in the southern Gaza city that has exposed one of the deepest rifts between the two allies.
Trapped vessels start moving out of Baltimore after bridge collapse
The city’s shipping channel has been blocked since a loaded container ship lost power and collided with a support column of the Francis Scott Key Bridge a week ago.
Property
The four Perth suburbs delivering 25pc-plus returns for investors
While eight of the top 10 performing suburbs for house price growth in Perth lie across the city’s south, four have climbed more than 25 per cent in a year.
Rents rise 11pc in Victoria as investors flee: NAB
Victorian property investment declined last year while advertised rents increased by 11 per cent, according to new data from NAB.
Record-breaking house prices make early rate cuts ‘less likely’
Home values nationwide hit new peaks in March, boosted by strong gains in the more affordable markets, but rising prices could also delay rate cuts.
‘It’s OK to rent’, developer tells Canadians priced out of homes
With high rates of homeownership, renting in Canada has traditionally been a transitory state. As home prices and borrowing costs have jumped, that is changing.
Six Sydney suburbs haven’t built a major project in years
Some of the suburbs earmarked for aggressive development haven’t had a single major unit project in five years. The NSW government wants to change that.
Wealth
- Opinion
- Property investment
The right apartment still a good stepping stone to wealth
The price difference between houses and apartments has reached record levels, but units are still an important stepping stone on the property ownership journey.
- Opinion
- Trusts
Why estranged family members might still have a claim on trust money
A decision in the Victorian courts found that trustee must engage in bona fide inquiries about potential beneficiaries.
The mystery of the mansion and the $2.7b bitcoin haul
What were two Chinese women doing in a rented mansion in London with an astronomical amount of cryptocurrency?
Technology
Uber admits to illegal activity at launch in Australia
A Melbourne trial to judge if Uber unfairly scuttled a rival’s business has begun with the ridesharing giant admitting it operated illegally in Australia a decade ago.
US and UK sign landmark agreement on testing safety of AI
The deal represents the first bilateral arrangement on AI safety in the world and comes as governments push for greater regulation.
- Opinion
- Digital Life
One control panel for all your home devices is still a lot to ask
So far, Amazon’s new Echo Hub is the best at controlling smart devices around the home. Nevertheless, the smart device industry remains fundamentally broken.
Work & Careers
Visa rejections hit record as overseas students top 700,000
There were 713,000 international students living in Australia in February, but a corner has been turned as visa rejections pile up.
Union delegates should get free iPads from bosses: CFMEU
Employers are protesting against a push for union delegate minimum rights including an iPad, a phone, filing cabinet and private lockable area.
Life & Luxury
The Danish city that is definitely worth the side trip
Aarhus embraces its Viking identity via myriad museums, great restaurants, and even a strange clown pub.
‘Eating out in France is a lottery you’re likely to lose’
On a trip to see family in a country known for its culinary excellence, a former Financial Review restaurant critic finds both delights and disappointments.
Can Netflix’s billionaire founder Reed Hastings disrupt skiing?
Can the new owner of Utah’s Powder Mountain transform the ski industry the way he did entertainment, even as he learns the ski business on the fly?
No cruise? No problem. We got a bonus week in Rome
The disappointment of a cancelled cruise is replaced by the joy of an unexpected luxury stay in the Eternal City.
Can you have kids AND nice furniture?
Is it best to put off owning something you’d enjoy, or keep a beloved heirloom locked away until some later, safer date? I decided to ask the experts.
