Rooftop solar subsidies stalling transition investment: Alinta CEO
Jeff Dimery also called for an honest debate about the costs of the energy transition and said consumers would inevitably have to pay more.
Wong’s Palestinian statehood call provokes backlash
Foreign Minister Penny Wong says a two-state solution is needed as a pathway to a lasting peace, and criticised the actions of both Israel and Hamas.
NAB’s new CEO shuffles leadership team, promotes rival
Rachel Slade, who was overlooked for the top job in favour of Andrew Irvine, will run the pre-eminent business banking division. Ana Marinkovic will run retail.
- Opinion
- Chanticleer
NAB’s new boss just managed to do what most CEOs can’t
Australian corporate history is riddled with examples of passed-over CEO candidates exiting. But NAB has just bucked the trend.
- Live
- Markets Live
Healthcare and miners buoy ASX; Ansell extends gains
Shares advance; RBNZ leaves cash rate unchanged; ASIC to appeal court ruling on Finder Earn; gold extends rally; Dubber CEO sacked. Follow updates here.
- Live
- Need to Know
Lambie to prop up Tasmanian Liberals
Jacqui Lambie’s party has struck a deal to keep the Rockliff government in power; Alinta Energy CEO Jeff Dimery says there are no more easy wins in the energy transition. Follow updates here.
New Seven expenses scandal as Spotlight boss enlists lawyer
Mark Llewellyn, executive producer of Seven’s flagship current affairs show, has tapped John Laxon for advice, as the network deals with new allegations of corporate wrongdoing.
- Drinks With Max Allen
- Non-alcoholic drinks
Australia wins big at World Alcohol-Free Awards
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merger reform
Chalmers’ merger crackdown to shake up M&A
The ACCC will be able to block serial acquisitions and those that entrench the market power of big players, but Jim Chalmers rejected a “presumptive ban” on mergers.
- Opinion
- Chanticleer
Chalmers’ merger reforms will change dealmaking
The treasurer’s sweeping reforms will transform how deals are done in Australia, but could change the way the economy develops.
- Opinion
- Mergers & acquisitions
Business relieved Gina Cass-Gottlieb didn’t win one key change
Jim Chalmers says a streamlined merger approvals process will deliver stronger, faster, simpler results. The ACCC gets more powers – just not as much as it wanted or business feared, writes Jennifer Hewett.
The three big changes to merger laws and why they matter
In Treasurer Jim Chalmers’ landmark merger law proposal there are two key changes that will shift how deals are done, and one crucial area he did not touch.
- Analysis
- Competition
Chalmers embarks on legacy-building merger reforms
How the treasurer’s merger reforms end up working in practice will be known in just a few years. Whether they achieve their economic objective will not be known for decades.
budget 2024
Henry demands billions for nature repair market
The economist wants a public fund to spur corporate involvement in “nature-positive” land protection.
Inflation still a budget concern: Albanese
The prime minister has further dampened the hopes of those looking for welfare increases and other budget handouts.
Small business lacks capital, the NRF thinks it has the answer
The new chief of the National Reconstruction Fund wants to use his $15 billion pot to encourage super funds and banks to invest in normally overlooked ventures.
Welfare boost unlikely as government strives for surplus
The government has all but ruled out further welfare increases, before receiving a pre-budget report from its advisory committee.
- Opinion
- Energy transition
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, writes ARENA chief executive Darren Miller.
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Companies
Dubber CEO sacked as company turns to emergency raising
Steve McGovern, the chief executive of Dubber Corp, has been dismissed by the company’s board following an internal investigation.
- Exclusive
- Investment banking
Macquarie shreds valuation of troubled Indian tech investment
The bank has marked down education platform Byju’s by 80 per cent after sustained investor pressure.
- Exclusive
- Rare earths
Gina Rinehart emerges as big investor in California rare earths giant
Disclosures by MP Minerals show the billionaire’s Hancock Prospecting owns some 5 per cent of the company, which had discussed merging with Lynas Rare Earths.
CBA raking in extra $1.7b by paying less interest than rivals
Amid regulatory scrutiny, banking analysts are shining a light on banks’ use of deposit pricing to manage margins when official interest rates start to fall.
- Updated
- Food
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.
Din Tai Fung fined $4m for ‘calculated scheme to rob employees’
Popular dumpling chain Din Tai Fung and two of its senior managers have been fined more than $4 million for a fraudulent scheme that underpaid the workforce and created fake pay records to conceal the truth.
ASX-listed Russian coal miner breached sanctions law: Federal Court
This is the first time a company has been found in breach of the Autonomous Sanctions Act following Russia’s invasion of Ukraine in 2022.
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Markets
Big four’s expensive shares send investors towards smaller rivals
With brokers warning the shares of CBA and its peers are too pricey, funds managers are increasingly looking to cheaper competitors like Judo Bank and MyState.
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.
What happened overnight? Gold hit a record; Fed’s Bostic predicted just one rate cut
US shares steadied and Treasury yields dropped from a more than four-month high in the last trading day before key US inflation data.
Macquarie tips CSL shares to 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.
Wall Street’s heady 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.
Opinion
We need a tough treasurer to talk us through tax reform
What really matters for future living standards is government policy going above and beyond mediocre minor changes.
Economics editor
What the gold and oil price rallies are telling us
While some investors are celebrating the surge in gold and oil prices, outperformance of US energy stocks has historically been a bad sign for the US sharemarket.
Columnist
Why Netanyahu must go
Parliamentary democracies that find themselves saddled with bad leaders in moments of national emergency do well when they get rid of those leaders.
Contributor
What comes after the China boom for Australia?
As China and other advanced economies suffer mutual disillusionment, Australia needs to figure out how it maintains its sweet spot in China’s economy.
Editorial
Screen addiction is a disease. Blame wealth
Smartphone addiction, culture wars and low birth rates are all byproducts of modern success that are difficult to fix.
Contributor
How making abortion a state issue could work for Trump
After winning favour with the evangelical right, the former president’s latest policy on abortion is all about appeasing Republican moderates, particularly the suburban women he has lost.
United States correspondent
Politics
First Japan, now Canada wants in on AUKUS
China says AUKUS plans to broaden participation in its military technology sharing agreement is “stoking bloc confrontation”.
The data that reveals the truth about Australia’s China ties
Although 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.
Bruce Lehrmann’s defamation trial judgment date set
Justice Michael Lee in the Federal Court will deliver his judgment in Bruce Lehrmann’s bombshell defamation case on Monday.
Two years to fix Defence: New military chief’s mission
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.
Henry demands billions for nature repair market
The economist wants a public fund to spur corporate involvement in “nature-positive” land protection.
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World
First Max, now Dreamliner. Boeing hit with new safety claims
An engineer whistle-blower says sections of the plane’s body are being assembled in a way that could weaken the aircraft. Boeing says there is no safety issue.
Biden blames Trump for ‘cruel’ abortion ruling in battleground state
Democrats quickly aimed to capitalise on the key election issue after an Arizona court ruling upholding an 1864 law that bans nearly all abortions.
‘It’s chaos’: Chinese EVs pile up at Europe’s ports
Executives say Chinese carmakers are not selling EVs in Europe as fast as they expected, turning ports into car parks.
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.
Everyone in Japan could have the same surname in 500 years
The Asian nation is the only country in the world that requires spouses to share the same last name.
Property
Housing developer Scape keeping builders afloat
Higher financing and construction costs are forcing builders’ clients to take on more cost risk, whether in student accommodation or office fit-outs.
Blackstone’s $15b apartment bet spurs sector-wide rally
BTIG analyst Michael Gorman said Blackstone’s decision “is likely to spur additional bullish sentiment for the group”.
Boston eyes commercial tax rise to counter office market dip
The city’s plan would favour home owners while potentially deepening the pain for commercial real estate during a nationwide slump in office demand.
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?
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.
Wealth
This increasingly popular divorce strategy can save money and tears
Jane Needham and Joe Darling wanted their divorce to be kind on their children and each other.
- Opinion
- Investing
Why investors shouldn’t buy assets just because they’re cheap
Underpriced opportunities are either the result of short-term dislocation or fundamental concerns. It’s important to know which of these forces are at play.
- Updated
- Business of sport
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.
Technology
Uber’s dominance in Australia intensifies as Ola exits
Corporate records show Ola’s Indian parent company spent $142 million on its Australian outpost.
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.
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.
Work & Careers
Why this CEO packs five days’ worth of work into four days
Lendlease Australia chief executive Dale Connor lives in Brisbane but spends his workweek in the property company’s Sydney office.
The five secrets of workplace success
There is no quick path to desk-based nirvana. But here are five insights about surviving at work.
Life & Luxury
This absurd boxing match shows how profitable sports media’s become
Why did a famous ex-baseball player get into a fight with a 21-year-old internet intern, and what does it say about popular culture?
- Drinks With Max Allen
- Non-alcoholic drinks
Australia wins big at World Alcohol-Free Awards
It seems there is no stopping the de-alc trend at home and abroad: the country was the third-biggest entrant this year, after the UK and France.
- Opinion
- Culture wars
JK Rowling is too rich and popular to silence on hate crime mania
The children’s author is irrepressible, which is why her opposition to free speech restrictions in Britain is so important.
This new nunsploitation film is a good omen
This is a cinephile’s movie, but it also delivers the thrills and suspense one expects from the horror genre.
A New York members’ club for the health-obsessed expands to Geneva
There’s a focus on health in the Swiss facility compared with that on stress in the Big Apple, but both have one target – the wealthy in global cities.
