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China is becoming more isolationist, data shows, despite improving ties with Australia.

The data that shows the truth about our China relationship

While Australia’s relations with China have warmed, key metrics show economic ties are at their lowest levels in more than five years and are unlikely to bounce back.

JPMorgan’s Jamie Dimon says investors are too obsessed with monthly inflation figures.

Jamie Dimon reveals three risks – and his leadership secret

We extracted the big lessons for investors and leaders from the JPMorgan CEO’s 27,000-word letter to shareholders.

Steven Marks and Hilton Brett, the co-chief executives of Guzman Y Gomez.

Guzman y Gomez lures new investors and hits $1.73b valuation

The Mexican-themed restaurant chain has four new heavyweight backers on its shareholder register after raising $135 million to support its growth.

Miners lift ASX; Ansell jumps 7pc; property falls

Mining giants BHP and Rio Tinto push ASX higher; SunRice to review NSW exports plan; oil prices fall; Ansell on track with biggest jump since 2022; iron ore rebounds. Follow updates here.

‘World’s best’ loyalty scheme battles points hoarders

Qantas frequent flyers are great at accumulating points – they always have been. But Qantas has to help them get better at spending the points to shore up its loyalty proposition.

Mayfair 101’s James Mawhinney arrested on dishonest conduct charges

The fund promoter appeared in a Melbourne court on Tuesday. His group of companies has already been fined $30 million for misleading and deceptive conduct.

Military veteran Johnston rises in Defence shake-up

Bedding down AUKUS and recruiting new personnel are key challenges for the new Defence chief amid warnings China will be ready to invade Taiwan by 2027.

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tuesday tech

Blackbird Ventures co-founder Rick Baker made the fund’s first investment in Canva 11 years ago.

Blackbird nets $800m payday from Canva share sale

“I hate selling even one Canva share … but it’s time for some of our earlier funds to take some profits off the table.”

Honey Insurance chief operating officer Angelo Azar, with CEO and founder Richard Joffe and chairman Peter Tonagh. The company can now plan to spend $108m of funding.

Sydney start-up lands blockbuster $108m US investment

After 305 meetings Honey has closed a huge series A funding round, but it had to head offshore to find the right investors.

Change your doorbell, change your life

Amazon’s latest battery-operated Ring doorbell has a new feature that can change the way you think about doorbells.

Start-up deals fall to six-year low as tech winter persists

Just 66 Australian companies raised funds from venture capital investors in the first quarter of this year, and total funding has dropped 45 per cent year-on-year.

Aussie MMA start-up quietly lists in the US after $9.9m raise

Manly-based Alta Group, which runs a mixed-martial-arts training platform, has debuted on the New York Stock Exchange after raising $US6.5 million.

Features include the ability to save articles, dark mode and real time notifications.

Get the latest business news on the go with the AFR’s new iOS app.

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Companies

The Papua LNG plant would be located on the same site as ExxonMobil’s PNG LNG facility near Port Moresby..

Santos’ $15b Papua LNG project hits further delay

The decision to build Papua New Guinea’s second LNG project has been pushed back again after bids from contractors made it uneconomic.

ACCC chairwoman Gina Cass-Gottlieb.

ACCC reviewing credit data deal as Experian pounces on illion

A $820m deal that would see consumer credit data controlled by a duopoly of foreign companies is being examined by the competition regulator.

DG Institute founder Dominique Grubisa.

Dominique Grubisa and DG Institute engaged in misleading conduct

The self-styled wealth and property guru runs seminars for students on how to protect their assets, but has been pursued by the consumer watchdog.

General Manager Costa Tsiolkas at Redbank Power Station in Warkworth, NSW.

Can one of our dirtiest coal plants reap a green bonanza?

Verdant Earth has lofty ambitions to turn the moribund Redbank into a major clean energy precinct using biomass. Environmentalists are still unhappy.

This Rich Lister sees a wave of distressed wine sales coming

The MD of Casella Family Brands, owner of Australia’s biggest-selling wine export brand Yellow Tail, says the under $10 per bottle segment is still shrinking.

Former Tattarang chief Andrew Hagger pops up in Adgemis’ corner

The one-time National Australia Bank executive has been assisting the businessman with his pub empire as it struggles to lock in a much-needed refinancing.

Proxy group at odds with itself over Woodside’s Richard Goyder

The sustainability arm of Institutional Shareholder Services is recommending against the re-election of the company’s chairman – contradicting its main analyst.

Companies in the News

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Markets

CSL Behring’s blood plasma business should underpin a rise in its share price.

Macquarie brokers say CSL shares will hit $500

Some of the biotechnology giant’s shareholders are sceptical about the investment bank’s call, which is detailed to clients in a 55-page note.

China’s president, Xi Jinping, in March. Authorities in Beijing set a five per cent growth target for the year.

China to miss lofty economic growth target without major stimulus

The Australian Financial Review’s survey of economists suggests growth as low as 4.2 per cent. But a reliance on iron ore will limit its effect on Australia.

The US sharemarket is the most expensive it has been in around two years.

Wall Street’s lofty profit expectations to test market rally

Investors will be questioning whether the US mega caps can continue to beat the punchy earnings forecasts set by analysts as US earnings season kicks off this week.

Why no one cares Trump’s soaring media stock is actually a dud

The more an asset price is disconnected from its fundamentals, the more potential it has to go “to the moon”.

What happened overnight? US Treasury yields reached year highs

Markets’ focus was firmly on interest rates before the release of key data this week as Wall Street’s biggest bull raised his year-end forecast by 900 points.

Opinion

Bond yields rise as investors brace for US-China trade war to escalate

As Yellen wraps up her China trip, it’s little wonder that US bond yields are rising and investors are bracing for the next salvo to be fired in the US-China trade war, writes Karen Maley.

Karen Maley

Columnist

Karen Maley

JAUKUS shows Australia is seeking security in Asia

Ironically, turning AUKUS into JAUKUS would move the pact closer to satisfying the national strategic interest test formulated by its chief Australian critic, Paul Keating.

The AFR View

Editorial

The AFR View

Why Japan is a good business partner for AUKUS

Beyond its technical capabilities, Tokyo’s strategic seriousness about the China threat is the biggest asset it will bring to the nuclear submarine pact.

John Lee

Foreign policy expert

John Lee

Why a billion-dollar bet on solar makes sense

The goal isn’t to compete with China immediately. It is to make the energy transition more resilient to external shocks.

Darren Miller

CEO of ARENA

Darren Miller

Political brawls sweep the supermarket aisles

Supermarkets are once again an appealing target for politicians wanting to demonstrate their good intentions on helping consumers with cost-of-living pressures.

Labor must fix housing crisis or share the House with Greens

Drastic action is necessary or the Green’s moral outrage over the cost of homes for young voters will keep Labor on the path to minority government.

Ed Cavanough

Think Tank CEO

Ed Cavanough
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Politics

The decision to part ways with John Simon comes after the RBA review identified significant shortcomings in the central bank’s research culture.

RBA pushes out research boss as Bullock overhauls operations

The decision by the RBA to part ways with John Simon comes after the RBA review identified significant shortcomings in the organisation’s research culture.

Former Treasury secretary Ken Henry.

Young workers penalised by outdated tax system: Henry

Ken Henry says the country’s broken tax system is threatening social cohesion; the NT extends its youth curfew in Alice Springs until the end of the school holidays. Here’s how the day unfolded.

Coles and Woolworths look set to be covered by a mandatory code of conduct.

Retail chain wars erupt over supermarkets code

Woolworths says new regulations governing supplier relationships should be expanded to cover rivals Amazon, Costco and Chemist Warehouse.

Insurers told to slash prices for households that reduce risks

Steps could include roof replacement, upgrading garage doors, boosting window protection, tying down sheds, and replacing flimsy hollow doors. 

Government poised to shake up spy, security chiefs

The Albanese government has the opportunity to reshape the leadership of the military and security agencies in coming months.

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World

Japan’s Prime Minister Fumio Kishida and his wife arrive in Washington to meet US President   Joe Biden.

AUKUS partners eye adding ‘like-minded’ Japan to counter China

The announcement from the AUKUS defence ministers came as Canada said it was considering joining the pact, signalling concern over threats from China.

Palestinians walk through a destroyed Khan Younis.

Israel’s war enters new phase, leaving a power vacuum in Gaza

Israeli troops have left southern Gaza and some Palestinians are returning to the area, where there was a sense of horror at the scope of destruction.

A total solar eclipse passed over North America on Monday (Tuesday AEDT).

Millions watch total solar eclipse across Americas

Experts called the eclipse “the most viewed astronomical event in history” as the moon blocked out the sun across North America.

Trump’s Fed chairman option opposes rate cuts this year

Kevin Hassett is a frontrunner to become Federal Reserve chairman if Donald Trump is elected. He says inflation remains sticky and isn’t being measured properly.

Israel pulls troops from southern Gaza, eyes Rafah assault

Israel has withdrawn its troops from Khan Younis in southern Gaza to prepare for operations in Rafah, Hamas’ last stronghold, despite international warnings.

Property

A more practical application of the act would save money, says Owners Corporation Network executive director Karen Stiles.

Strata reforms send bills soaring from just $5000 to $60,000

The NSW government made sweeping changes to prevent horrific development failures. Did it go too far?

Third.i founder Luke Berry

IR laws thwart Australia’s housing targets: builders

Labor’s union-friendly industrial relations laws will cause Australia to fall short of national housing targets for four of the next five years, industry claims.

Loans for new home builds are growing more slowly than for established homes.

Loans for new homes fall 2.1pc as mortgage demand picks up

While confidence among home buyers is growing, demand for loans for new home building is going the other way.

Scape closes third joint venture with $1b student housing fund

The private developer of purpose-built student accommodation has paired again with funding partners APG and Ivanhoe Cambridge to develop 3000 new rooms.

Showdown in the bar as ‘insane’ auction for luxury $4.8m home drags on

In a sellers’ market, the buyer of a newly built waterfront property had to meet a price the selling developer wanted – but she made him work for it.

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Wealth

The Pierro filly out of superstar racehorse Winx was offered for public auction on Monday.

History made as Winx foal becomes the most expensive filly in the world

Ingham’s family scion and Winx part-owner, Debbie Kepitis, outbid American thoroughbred tycoon, John Stewart, offering a staggering $10 million.

Wall Street workers don’t understand how to prepare for retirement

Higher interest rates mean people need less money to retire, so if anything, finance industry employees should have revised their estimates down, not up.

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.

Technology

W23 Australia boss Ingrid Maes

Woolworths partners with Tesco on $190m start-up investment fund

The global fund will be run from Sydney and counts retailer chains from Europe, Canada and South Africa among its investors.

Melbourne hosts Lime scooters, unlike Sydney where it has had to learn to operate bikes.

IPO hopeful Lime avoids share bike graveyard

The company says Sydney and Melbourne are among its most profitable cities as it eyes resurrecting its aborted plans to go public.

GoCatch founders Andrew Campbell and Ned Moorfield pictured in 2013, before they allegedly fell out over the company’s direction.

GoCatch was shedding passengers before UberX arrived, court told

Ned Moorfield, the co-founder of failed start-up GoCatch, has been grilled under cross-examination during the second week of a damages case against Uber.

Work & Careers

Umpire warns of higher consent standards as ‘groping’ sacking upheld

The Fair Work Commission has upheld Alcoa’s summary dismissal of a veteran employee for touching a female inappropriately as he squeezed past her.

Women of Influence share their tips for young female leaders today

Past winners of The Australian Financial Review’s long-standing and much-loved program give advice before it returns this year as Women in Leadership.

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Life & Luxury

Enter the Ford Mustang Mach-E Select: yours from $72,990 plus on-road costs.

Does Ford’s new Mustang Mach-E SUV live up to its name?

The all-electric newcomer faces stiff competition from Tesla’s Model Y. But maybe you want to stand out from the crowd.

At last, a gadget worthy of a bucket list

Imagine what you could do with a portable, 300-inch screen and Hisense’s new C1 projector.

The company behind Eroxon gel, which treats erectile dysfunction, is seeking approval for the product to be sold in Australia.

Why you think you’re more beautiful than you are after 50

Age goggles are one of nature’s kinder tricks, providing you accept that what you see in the mirror is not necessarily what others are experiencing.

John Alfred Tinniswood: “If you do too much of anything you’re going to suffer eventually.”

World’s oldest man says his longevity secret is an ‘unhealthy’ meal

But Englishman John Alfred Tinniswood, 111, also says a long life comes down to luck – and moderation.

Hardest Geezer Russ Cook running through Sahara Desert.

‘Hardest Geezer’ finishes 16,300km run across 16 countries in 352 days

Briton Russ Cook had hoped to jog the length of Africa in 240 days, the equivalent of more than a marathon every day. Sandstorms and robberies intervened.

From the gallery