- Exclusive
- Commercial property finance
Wylie urges Lendlease to fix ‘arrogant’ culture
In a letter to the property giant, Tanarra Capital made eight recommendations it said was needed “not just for future success, but for its survival”.
Dutton sets sights on Coles, Woolies ‘market domination’
The Opposition Leader has flagged action on property acquisitions and land banking as part of a new policy to boost competition.
- Analysis
- Political leadership
Sam Mostyn may face a constitutional crisis next year
Electoral and demographic trends could combine to force the new governor-general into a leading role in sorting out a post-election parliamentary deadlock.
‘Mission finally accomplished’: How Seven got its Lehrmann exclusive
After a four-month mission, thousands of dollars, and allegations of prostitutes and drugs, Seven finally secured a tell-all interview with Bruce Lehrmann.
Employers to share workers in first multi-employer deal
A landmark agreement will introduce ‘pooled labour’ for the first time - but opponents warn it risks reducing jobs growth and undermining competition.
- Opinion
- Chanticleer
You can bank on change at underperforming Lendlease
Boards hate it when big investors speak out about their strategy, but it usually sparks action.
- Opinion
- Energy transition
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, writes John Kehoe.
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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.
‘Not honourable, but lawful’: Uber justifies using spyware on rival
Uber’s lawyers said taking private data from its rival GoCatch was not like burglary, and compared its lawbreaking to publishers selling Lady Chatterley’s Lover.
- 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?
australia’s new governor-general
What to expect from the new governor-general, from those who know her
Praised for her integrity, empathy and roaring intellect, all those who have worked alongside Sam Mostyn, or seen her in action, expect great things when she starts her new role.
Sam Mostyn goes from boardroom to Yarralumla
Sam Mostyn has become the first significant business figure to be appointed to the role of governor-general, after a trailblazing career as a lawyer, director, AFL commissioner and equality activist.
- Opinion
- Political leadership
Albanese’s shrewd G-G choice won’t settle for cutting ribbons
Sam Mostyn is whip smart and is more than capable of using her role to bring attention to various causes as she sees them, in a non-confrontational manner.
‘I want to introduce myself’: Mostyn’s first speech as GG
Sam Mostyn, born in Canberra, rose from an army family to become a political and corporate power player. This is her story.
The new governor-general - in her own words
Sam Mostyn has been one of Australia’s most influential company directors for many years, shaping policies on gender, climate and First Nations issues.
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Companies
Transurban says it was not involved in Rozelle Interchange design
The tollroad operator has told a NSW inquiry into the congestion that the original design was published well before it acquired WestConnex.
- Opinion
- Investing
Caledonia’s $9b bet on Zillow hits an activist short seller wall
The hedge fund backed by some of Sydney’s wealthiest families says the real estate portal’s share price could triple by next year. Others think it will halve.
Leigh Clifford-backed consortium moves to takeover Melbourne Rebels
A group led by the former Qantas chairman is trying to move the rugby union team, which collapsed into administration this year, to the city’s western suburbs.
- Updated
- Oil
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 a third.
Massive cost blowout could scupper Regis’ NSW gold mine hopes
The development will now need more than $1 billion to come online, leaving brokers warning that it may never get off the ground. Regis shares fell 4 per cent.
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.
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.
Companies in the News
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Markets
ASX drops 1.3pc as property tumbles; Westgold plunges 15pc
Shares decline at the closing bell; gold resets record high; WiseTech’s Engelhard to retire from board; Westgold plunges over 10 per cent after latest quarterly production update.
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.
Opinion
Caledonia’s $9b bet on Zillow hits an activist short seller wall
The hedge fund backed by some of Sydney’s wealthiest families says the real estate portal’s share price could triple by next year. Others think it will halve.
Senior reporter
Albanese’s shrewd G-G choice won’t settle for cutting ribbons
Sam Mostyn is whip smart and is more than capable of using her role to bring attention to various causes as she sees them, in a non-confrontational manner.
Political editor
A first governor-general from the business world
Sam Mostyn’s instinctive promotion of progressive cultural policies will now be cloaked in a vice regal role that should remain above politics and controversy.
Editorial
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
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
Tax surge consuming up to 45pc of household income
Federal, state and local government tax revenue is expected to amount to a near-record 30 per cent of gross domestic product in 2023-24, according to the CIS.
Dance teachers and hairdressers threatened over non-competes: Leigh
Assistant minister for competition will consult on regulating non-compete clauses after finding young, low-paid workers are being threatened for switching jobs.
Childcare rebates could leap to $14b - but women still aren’t back at work
A key objective of the most recent changes to childcare subsidies was to encourage more women into the workforce, but so far they haven’t taken the bait.
Transurban says it was not involved in Rozelle Interchange design
The tollroad operator has told a NSW inquiry into the congestion that the original design was published well before it acquired WestConnex.
Teals warn Labor has ‘dropped the ball’ on small business
The independent MPs, expected to play a crucial role in next year’s federal election, also hit out at the Coalition for failing to support sensible changes.
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World
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 killed.
Japan, US to seek Australia’s help in bolstering Indo-Pacific defence
Japanese officials indicate Australia would have a role to play to bolster ties in the region and reduce the risk of confrontations between China and the Philippines.
Israel’s drone pilots ‘targeted aid convoy’ with guided missiles
According to Israeli security sources, drone pilots deliberately guided missiles down on to the three clearly marked humanitarian vehicles travelling below.
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.
How Tesla lost its grip on the EV market
Sales of the company’s electric cars dropped in the first three months of the year, even as other car makers sold more battery-powered vehicles.
Property
The ‘next Justin Hemmes’ swoops on Bruce Gordon’s iconic Illawarra pub
Glenn Piper’s decision to acquire the iconic Scarborough Hotel from Rich Lister Bruce Gordon for $9.5 million is a sign that pub deals are returning.
- Exclusive
- Luxury property
Billionaire pharma boss buys into South Yarra
Pharmaceuticals boss Dennis Bastas has taken the keys to a sleek house in Melbourne’s east for $10.5 million.
- 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
Fix tax and planning to speed build-to-rent projects: Greystar
The US giant has raised more than $1 billion to fund a pipeline of rental apartments, but tax and planning fixes would boost needed investment, it says.
Four key Melbourne suburbs haven’t built a major project in five years
Developers are warning that overhauling planning powers alone won’t be enough to fix the state’s chronic housing crisis.
Wealth
What if my late wife’s pension pushes my super above $3 million?
Reversionary pension law gives surviving spouses time to sort out their super.
Why picking ASX biotechs is mostly for the crazy brave
It’s a space with a reputation for rollercoaster returns and outlandish sales pitches, but some investors get lucky.
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.
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
Employers to share workers in first multi-employer deal
A landmark agreement will introduce ‘pooled labour’ for the first time - but opponents warn it risks reducing jobs growth and undermining competition.
Gender, age and ethnic diversity on smaller company boards plummets
There are more directors with an Anglo-Celtic background than seven years ago on the ASX 300, a new survey has found, and fewer women on ASX 200-300 boards.
Life & Luxury
Rizzo steals show in Grease The Musical
Step aside, Sandy - it was another Rydell High student who got the biggest response at Tuesday’s opening night of Grease The Musical in Sydney.
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.
