- 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
Tech and property drags ASX down over 1pc
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.
Strong earthquake hits Taiwan, chip plants evacuated
The quake toppled buildings, sparked tsunami warnings and forced major chipmakers to move staff out of production centres. Four people were reportedly killed.
- 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.
Commodity markets flash warning signal for stocks
The concurrent rally in oil and gold prices shows that geopolitical risks have returned to markets which is a “negative omen” for risk assets.
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.
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legal affairs
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.
- 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
Karoon plots path from oil junior to major through the Gulf of Mexico
The ASX-listed group spent $1.1 billion buying the interests last year. It plans to increase its spending in a bid to boost reserves by more than one third.
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.
Mighty Craft in last ditch sell-off to get debt burden under control
The ASX-listed group, which owns a big stake in Better Beer, has sold Mismatch Brewing and the 78 Degrees spirits business to a consortium of publicans.
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.
- Exclusive
- Private equity
Hillhouse Capital plots Australian outpost, snares ex-Blackstone exec
The private equity firm has about $63 billion in assets, but like many of its peers, the investor wants to expand throughout Asia.
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.
Companies in the News
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Markets
Commodity markets flash warning signal for stocks
The concurrent rally in oil and gold prices shows that geopolitical risks have returned to markets which is a “negative omen” for risk assets.
News-powered hedge fund raises $100m to trade on reporters’ scoops
Hunterbrook Capital places trades based on scoops uncovered by reporters at its affiliated newsroom, Hunterbrook Media, which is separated by a layer of compliance.
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.
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
Higher oil prices, inflation and debt give investors plenty of worries
There’s little wonder US bond yields are pushing higher, sending sharemarkets lower. The big question is whether this will turn into a full-blown correction.
Columnist
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
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.
- Live
- Need to Know
Keating praises Mostyn’s appointment
Paul Keating has welcomed corporate leader Sam Mostyn as Australia’s next governor-general; the peak small business body has warned about growing numbers of insolvencies. Here’s how the day unfolded.
- 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.
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World
Biden warns Xi on Pacific partners, trade and Middle East
The American and Chinese presidents spoke by phone for nearly two hours, discussing Beijing’s treatment of US allies, 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
- Exclusive
- Luxury property
Melbourne print boss offers ‘hardly lived in’ $28m Point Piper pad
Printing heavyweight Wayne Sidwell lists his Point Piper pied-à-terre asking $28m, while the Penn family seek a strong return on their Double Bay investment
The ‘next Justin Hemmes’ swoops on Bruce Gordon’s iconic Illawarra pub
Glenn Piper has acquired the iconic Scarborough Hotel from Rich Lister Bruce Gordon for $9.5 million.
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.
Wealth
Is it worth getting a Qantas home loan for the points?
It’s no good getting a ‘free’ one-way ticket to France but having no money to buy yourself a decent pain au chocolat.
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.
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
It took seven years before my career change paid off
Welcome to our new AFR series featuring professionals who have made a big career leap into the unknown.
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.
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.
Streeton, Campbell works promise hefty returns in $12m art sale
An Arthur Streeton painting bought for £7 has hopes of $1.5 million at the year’s first big sale.
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.
