Auction clearances bounce in fresh worry for RBA
Auction results show there’s little holding the market back. That will be on the RBA’s mind as it considers whether and when to move on rate cuts.
Strong US jobs data reinforces rate cut delay fears
Despite traders pushing out their bets of when easing will start, Wall Street ended higher. The Australian market is poised to rise 0.5 per cent on Monday.
- Opinion
- Israeli-Palestinian conflict
Albanese and Biden’s opportunism on aid deaths is contemptible
The confected outrage over the deaths of Australian Zomi Frankcom and her fellow Gaza aid workers goes way beyond the reaction to earlier wartime tragedies, writes Alexander Downer.
Japan poised to join AUKUS security pact
Japan is set to join the AUKUS military technology sharing pact alongside Australia, the US and UK in a major boost to alliance building in the face of China’s growing assertiveness.
Nine and Foxtel in battle for Tabcorp’s Sky Racing channels
Tabcorp has held discussions with both News Corp-owned Foxtel and Nine Entertainment about putting its Sky Racing on either Kayo or Stan.
Why one segment of the housing market is about to get even hotter
Uncertainty over the timing of the rate cut is driving more homeowners to downsize to reduce debt, which is adding competitive pressure to this segment of the housing market, according to experts.
CBA joins banks quietly increasing rates, fees
The big banks have all been slowly lifting their rates, while Commonwealth and Westpac have also increased annual fees.
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smart investor weekend
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.
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.
- Opinion
- SMSFs
What SMSFs need to know as ATO cracks down on illegal access to super
More than $630 million has been accessed illegally from SMSFs. Here’s what you need to know to stay on the right side of the law.
- Opinion
- Inflation
Next US inflation print could make or break 2024
Investors in aggressively long equities, real estate, junk bonds and private debt have been fervently punting on the likelihood of deep rate cuts this year to bail them out of a heavy procyclical slump.
Small caps are ripe for a comeback. Here’s how to pick winners
The life-changing capital gains on offer make the small-cap sector attractive to investors, but success stories are rare among the thousands of companies that bite the dust.
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Companies
High-profile analyst accuses CGI Glass Lewis of activism on Woodside
Saul Kavonic, of MST Marquee, said the influential proxy advisory group “appears to have lost objectivity and equity in its work”.
CBA joins banks quietly cutting interest-free days on credit cards
The big banks have all been slowly lifting their rates, while Commonwealth and Westpac have also increased annual fees.
- Exclusive
- Investment banking
Lendlease calls in banks as it mulls structural change
The global property developer is facing calls from its major shareholders to carve off its international division. Its advisers are now exploring its options.
Inside the battle for Armaguard and the future of cash
The high-stakes negotiations over the financial future for the cash transit monopoly reached a crescendo over Easter, and became clearer this week.
Police investigated sexual assault allegation against PwC employee
A woman is suing PwC Australia under workplace laws. Both parties agreed on Friday to attend mediation.
Santos pursues environmentalists that bankrolled Barossa gas protest
The gas producer wants four activist groups to hand over documents that could show who funded litigation against its offshore project north of Darwin.
Allan Gray will disregard proxy advice and back Goyder at Woodside
The investment firm is a big shareholder in the oil and gas giant. It is supporting its climate strategy in the face of opposition from environmentalists.
Companies in the News
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Markets
BlackRock dominates in Australia as billions flood into crypto ETFs
Brokers say the iShares product operated by BlackRock is the most popular among local investors, with inflows continuing despite volatile prices.
Wall St extends rally after stronger-than-expected jobs data
All three US benchmarks closed higher as traders opted to focus on the economy’s strength, rather than the fading probability of a June rate cut.
Why Wall Street banks have got it wrong on lithium
Sydney fund manager Ethical Partners says their own modelling shows the battery metal has moved “rapidly back” into balance after last year’s collapse, that will continue to support prices (and the sharemarket).
‘Unequivocal failure’: Activist fund tries to unseat Larry Fink
Bluebell Capital Partners is proposing to oust the BlackRock founder as chairman of the world’s largest asset manager.
BHP, Rio weigh on ASX shares; oil jumps, GQG gains on rising FUM
Shares pare losses. Middle East spooks investors. GQG lifts FUM. Ripple plans stablecoin launch. APM finds new suitor. Dow drops on Kashkari rates cloud.
Opinion
Israel must listen to its friends, not defy them
Israel has to show that it is better than the terrorists of Hamas. That means being accountable for its own behaviour.
Editorial
Australia must uphold international law, starting with Israel
We have been too quick to make excuses for Israel, and too slow to push the first principle of adherence to the law.
Columnist
Next US inflation print could make or break 2024
Investors in aggressively long equities, real estate, junk bonds and private debt have been fervently punting on the likelihood of deep rate cuts this year to bail them out of a heavy procyclical slump.
Columnist
Tax review to avoid an ‘intergenerational tragedy’
Incremental change is a waste of time. Ken Henry says someone has to grab this thing and get on with it.
Editorial
Are we on the brink of an Asian currency war?
As tensions over China’s push into high-tech manufacturing flare, analysts warn that it’s only a matter of time before China follows Japan’s lead in competitive currency devaluations.
Columnist
Reports of China’s demise are exaggerated
The popular theory of “peak China” is based on a misreading of data. And many of its problems are more cyclical than analysts are allowing for.
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
200 rescues as NSW floodwaters begin to subside
Queensland escaped forecast heavy storms on Sunday, but there are still dozens of warnings in place along rivers near Sydney.
Boat arrivals taken to Nauru after reaching mainland
A third boat has made it to mainland Australia in five months, adding to pressure on the Albanese government over border protection.
‘A mishmash’: backpackers not equal under Australian visa rules
Different regulations can apply to countries even from the same continent when it comes to language requirements.
‘Systemic failure’ from Israel to follow humanitarian law: Husic
NSW premier Chris Minns calls for per capita GST distribution; Birmingham calls on Israel to change targeting procedures; Gaza ceasefire talks set to resume tomorrow. Follow updates here.
Chinese investment in Australia slumps to record lows
Chinese M&A in Australia has crashed, particularly in mining as it shifts corporate firepower towards Belt and Road countries.
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World
Pro-Russia candidate wins Slovakia’s presidential election
Despite the presidency’s limited powers in Slovakia, the election was widely watched as a test of strength between political camps with starkly different views on Russia.
- Analysis
- Israeli-Palestinian conflict
How many ‘mistakes’ are Israeli forces making in Gaza?
Rights groups and aid workers say last week’s fatal strike on aid workers was hardly an anomaly.
- Analysis
- US election
The uneasy truce between Donald Trump and Fox News
Every media outlet in the world is grappling with how to cover Donald Trump, as his pronouncements become more stuffed with false claims. But the dilemma is most vexing for Fox News.
Zelensky warns of dwindling air defence missiles
Kyiv is grappling with a slowdown in military assistance from the West and in particular from the United States.
Trump seeks to outdo Biden fundraiser with glittering Palm Beach affair
The event, hosted by billionaire John Paulson, follows a concerted push by the Trump campaign to tackle a long-standing financial disparity with the president.
Property
Why one segment of the housing market is about to get even hotter
Uncertainty over the timing of the rate cut is driving more homeowners to downsize to reduce debt, which is adding competitive pressure to this segment of the housing market, according to experts.
- Exclusive
- Luxury property
Billionaire Smorgon family to sell family farm Benwerrin
The Toorak-based Smorgons have listed a long-held family farm complete with five-bedroom luxury residence.
- Exclusive
- Property development
The big plan to stop the Sydney exodus
The Minns government will push its zoning reforms, with or without councils’ blessing, as over 70,000 Sydney workers have left for more affordable pastures.
- Exclusive
- Luxury property
Wallabies great snaps up rural retreat in impulse buy
The former Wallabies captain and his wife, Julie, have emerged as the buyers of a luxury rural retreat in the NSW Central West town of Orange.
- Exclusive
- Luxury property
Eastern suburbs’ elite sell their trophy mansions
Investors Mutual CEO Damon Hambly and wife Philippa Haydon have listed their Bellevue Hill home for $23 million, while Sue Ingham is downsizing in Darling Point.
Wealth
Small caps are ripe for a comeback. Here’s how to pick winners
The life-changing capital gains on offer make the small-cap sector attractive to investors, but success stories are rare among the thousands of companies that bite the dust.
The questions real estate agents avoid (but buyers must ask)
Be aware of the many hidden costs associated with buying a new home.
- Opinion
- SMSFs
What SMSFs need to know as ATO cracks down on illegal access to super
More than $630 million has been accessed illegally from SMSFs. Here’s what you need to know to stay on the right side of the law.
Technology
Musk denies axing entry-level Tesla in pursuit of a robotaxi
The promise of a fully autonomous vehicle has long been key to Tesla’s lofty valuation, which has tumbled more than one third so far this calendar year.
Canva millionaires made as $US1.6b share sale completes
The design software giant has finalised the first tranche of a share sale it has signalled will reach $3.6 billion, with rich rewards for early staff and investors.
Uber and GoCatch stagger out for round two of court case
Nobody expected a clean fight when GoCatch called out Uber for huge damages, but startling details in the first week of the trial have left both sides wounded.
Work & Careers
Australians lead the world in business-leisure trips
Aussies are taking business trips nearly twice the length of the global average and Melbourne boss and golfer Jon Kerr is all for it.
Why this boss wants to help pay for childcare
In an Australian first, u&u Recruitment Partners will subsidise the costs of childcare up to ease the financial burden of returning to work.
Life & Luxury
Forget sex, drugs and rock’n’roll: kale and kombucha take over touring
Frontier Touring has a new-look team, but it’s not the only thing in the music biz that has changed.
As prostate cancer surges, Australia breaks new ground
As low and middle-income countries await a surge in prostate cancer, Australia is driving ahead with cutting-edge treatments and new ways of solving old problems.
How to make money being Paul Keating
Thank god for writing royalties, says Jonathan Biggins, who reckons politics is stuck on repeat and the new puritanism is hard to poke fun at.
Think you know this week’s news? Answer these 10 questions
Have you been paying attention this week? Test your knowledge across politics, business and world news.
The strange Chinese murder behind Netflix’s ‘3 Body Problem’
The billionaire with the film rights to the cult sci-fi novel was killed in a plot “as bizarre as a Hollywood blockbuster”.
