- Opinion
- Chanticleer
Why Di Pilla’s fund sold down ahead of Chemist Warehouse ruling
It is usually worth following the money in merger deals, which makes trading in Sigma Healthcare interesting.
Mostyn named next governor-general
Prime Minister Anthony Albanese named the businesswoman and former AFL commissioner as King Charles’ next representative in Australia.
- Live
- Markets Live
ASX slumps over 1pc as property sells off; WiseTech down
Shares extend decline; gold resets record high; WiseTech’s Engelhard to retire from board; Westgold plunges over 10 per cent after latest quarterly production update. Follow updates here.
- Live
- Need to Know
Taiwan reports one dead, more than 50 injured after quake
One person has died in Taiwan after the strongest earthquake in 25 years rocked the island; the peak small business body has warned about growing numbers of insolvencies. Follow updates here.
Seven allegedly paid thousands for drugs, prostitutes for Lehrmann
In three explosive affidavits, a former Seven producer claims the network paid for housing, meals and drugs to score a tell-all interview with Bruce Lehrmann.
Albanese expresses ‘outrage’ to Netanyahu over aid worker’s death
Anthony Albanese has expressed Australian anger over the death of aid worker Zomi Frankcom in a telephone call with Benjamin Netanyahu.
- Opinion
- Global economy
Population decline will destroy the West as we know it
By 2100, the number of people worldwide will have peaked. The value of assets will drop and the incomes they generate will fall.
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legal affairs
- Analysis
- Defamation
Ten flips the Higgins narrative against Seven
Judge Michael Lee must decide if a man who may have lied to his lawyers, judges and the public has a reputation worthy of being protected.
- Analysis
- Lehrmann trial
Lehrmann judge to test ‘lipstick on a pig’
Justice Lee knows that if he leaves anything out there – even a late affidavit by an ex-staffer at Spotlight – that could be an asterisk over his judgment.
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?
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.
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.
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Companies
Christopher Pyne emerges as Hanwha’s man in Canberra
The Korean conglomerate has lobbed a $1 billion bid for ASX-listed Austal. The local shipbuilder has rejected the offer, saying it won’t be approved.
First coal power increase in seven years spotlights Eraring talks
A surge in coal generation in NSW during the March quarter has thrown a spotlight on negotiations between Origin Energy and the state government to postpone closing the nation’s largest power station.
Macquarie ready to part with 88pc of AirTrunk
Street Talk has obtained as much detail as any of the carefully vetted bidders currently signing the non-disclosure agreements.
- Exclusive
- Weight loss
Trish lost 25kg on replica Ozempic. She fears for patients like her
Patients like Trish Miller are afraid their weight loss will come to a halt as the regulator mulls a ban on replica anti-obesity drugs made by pharmacists.
- 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.
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.
Companies in the News
Search companies
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Markets
The era of big mining dividend paydays is coming to an end – for now
Morgan Stanley’s analysts have told clients that BHP will be particularly affected amid an iron ore price slump. Lithium miners will similar cut their payouts.
$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.
Tesla shares drop after sales fall short of estimates
The electric car maker handed over 386,810 vehicles in the first three months of 2024 for its first year-over-year sales drop since the early days of the COVID-19 pandemic.
What happened overnight? S&P 500 briefly trades below 5200 mark, yields rise again
The Dow ended down near 400 points. Tesla dropped amid concerns about EV demand. Oil rose on rising Mid East tensions. Gold reset its record high.
- 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”.
Opinion
The PM has made a silly billion-dollar bet on solar panels
The price of solar panels has plunged and overseas makers are going broke, making it even more puzzling why the government is making a $1 billion taxpayer bet.
Economics editor
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
We should be glad banks are speaking up
Australia’s big banks are at the coalface of the economy. Governments should be listening when they highlight the need for change.
Columnist
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
Why boards need their strategy captured on one page
Good governance is about strategy and judgment, not compliance and process. How do boards get those things to the fore?
Corporate leader
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
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
Albanese expresses ‘outrage’ to Netanyahu over aid worker’s death
Anthony Albanese has expressed Australian anger over the death of aid worker Zomi Frankcom in a telephone call with Benjamin Netanyahu.
- Exclusive
- Federal budget
Budget to fast-track investment approvals
Treasurer Jim Chalmers is close to finalising a package to get capital flowing for the stuttering energy transition and other Labor priority projects.
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.
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World
Biden warns Xi on Pacific partners, trade and Middle East
Joe Biden and Xi Jinping spoke by phone for nearly two hours, and discussed in part China’s treatment of US partners in the Pacific, including Australia.
NATO mulls $165b ‘Trump-proof’ military fund for Ukraine
The proposals would give the Western alliance a more direct role in co-ordinating the supply of arms, ammunition and equipment.
Biden vents ‘outrage’ over deadly Israeli strike on aid workers
The incident drew widespread condemnation and ratcheted up pressure on Israel to ease the disastrous humanitarian situation in Gaza after six months of war.
- Opinion
- Middle East tensions
Four reasons why Joe Biden can’t force a truce on Israel, or won’t
The United States has intervened in past Middle East wars, but for the current president, this one is different.
- Opinion
- Global economy
Why women don’t stick with economics
Economic models of anything are founded on the assumption of Homo economicus. No sensible woman looks at this model and recognises herself.
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.
How do you fix a massive lack of housing? Canada knows a few things
Toronto’s former chief planner says it took “cold hard cash” to get some cities to accept they would have to clear away restrictions to more development.
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.
Wealth
A new class system is emerging even within the world’s 1pc
The Forbes’ rich list has gained $US2 trillion as Taylor Swift and Sam Altman have become billionaires, but 14 people at the top belong in a new category.
- Opinion
- Global economy
Population decline will destroy the West as we know it
By 2100, the number of people worldwide will have peaked. The value of assets will drop and the incomes they generate will fall.
- 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.
Technology
- Opinion
- Electric vehicles
The big worry for car makers: what if the EV slowdown is not a blip?
If politicians cannot persuade consumers to buy EVs, will they tear up their net-zero pledges, or turn to other measures to drive sales?
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?
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.
Work & Careers
The CEO who loves breakfast so much, she had a brunch wedding
The boss of Advanced Cosmeceuticals Skin Group, Shaunte Mears-Watkins, is up by 5.30am at the latest, and has a well-honed routine to set her up for the day.
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.
Life & Luxury
The secret to streamlined packing
What to take? What to leave out? Packing for an overseas holiday can be fraught. So, from lists to laundry bags, these are the hacks we swear by.
Why ‘divorce rings’ are going viral
The trend of such jewellery, embraced primarily by women, is about breathing life into one’s marriage bands after a split.
From Branson to Nadal – big names are investing millions in Mallorca
Forget the parties and tacky tourism around Magaluf. Celebrities and luxury hotel chains are putting up brass plates across one of Spain’s favourite Balearic Islands.
Going to France for the Games? Here’s your restaurant guide
Three of France’s top chefs are designing the menus for the Athletes Village at the Olympics. But spectators can also win by visiting their buzzy, innovative restaurants.
- Driving With Tony Davis
- Motoring
Is Ferrari’s new supercar better as a convertible?
This droptop twin with a plug-in hybrid system follows hot on the tail of the “fun-to-drive” 296 GTB coupe.
