‘Dangerous’ policy mix threatens rate cuts
Higher US inflation has economists warning interest rates may need to go higher to offset a “dangerous” cocktail of tax cuts and green industrial subsidies.
- Exclusive
- Energy
HESTA sides with Woodside Energy on chairman Richard Goyder’s future
But the outspoken superannuation fund, which has criticised the company for not doing enough on emissions reduction, will vote against its climate strategy.
- Opinion
- Chanticleer
Meet the Aussie who will be crucial to KKR’s $1.5trn ambition
KKR has set out some big goals, including more than quadrupling earnings and lifting assets five-fold. A little-known Australian executive will be vital to hitting the targets.
Workers rush back to their desks as job fears grow
Rising job security fears have driven average office utilisation in Australia to its highest level since the pandemic, new data suggests.
- Opinion
- Australian economy
Albanese makes manufacturing his future
Labor wants to promote a future made in Australia. He knows it will have political appeal. What about the economics, asks Jennifer Hewett.
Shares pare losses; miners, energy gains, rates rise on US inflation
Property, tech stocks fall as investors push first US rate cut to November. Macquarie says buy Whitehaven. NextDC eyes $1.3b capital raising. Avita cuts guidance. Follow here.
Fix planning laws to improve supermarket competition, says Aldi boss
The German discount supermarket says state and local zoning laws are stopping its network of 600 outlets growing to areas like Tasmania.
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Companies
- Updated
- Cloud
NextDC goes high-performance with $1.3b raise for data centres
The country’s largest listed developer and operator of data centres is raising $1.3 billion to expand its operations amid a boom in demand for computing power.
Support for Santos chairman overwhelms environmental activist push
The company has been working on major LNG projects, making it a target for climate campaigners. But it has had limited investor backlash to those plans.
Weekend vote, no notice: HWLE invalidly dismissed partner, court finds
Equity partner Greg Lewis was given no notice of a weekend vote to expel him from the HWL Ebsworth partnership, in breach of the firm’s partnership agreement.
HMC Capital doubles down and increases stake in embattled Lendlease
David Di Pilla’s investment firm has increased its holdings in the construction giant a week after backing its management team.
Betr shakes off News Corp past and joins ASX in merger with BlueBet
Matthew Tripp, the veteran bookmaker, and his co-investors will become the controlling shareholders of the combined group amid broader industry consolidation.
MinterEllison practice head poached by rival
Climate lawyer Sarah Barker has joined advisory outfit Pollination Group, as the climate and sustainability advice sector continues to grow.
- Exclusive
- Food & drink
Publican Jon Adgemis’ luxury yacht not safe from creditors
Lenders tipped a company which owns the vessel into receivership last month – before handing it back. He is attempting to refinance his sprawling hotel empire.
Companies in the News
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Markets
The eight stocks most loved by Australia’s best fund managers
Despite the headwinds, CSL is still loved by the top stock pickers. CBA and BHP are also widely held – but not as widely as expected.
Why Paradice is backing Seven Group’s bid for Boral
Mid-cap investor Jovana Gagic says Kerry Stokes’ conglomerate has a good track record in buying controlling stakes, and reveals why she’s bullish on Orica and Pro Medicus.
Shock US inflation ends chance of RBA rate cuts this year
The $A and bonds were sent into a tailspin after hot CPI data prompted traders to price out the chance of some rate relief from the Reserve Bank in 2024.
Regal’s Phil King shorts Tesla and Apple
The star stockpicker says there’s long and short opportunities in the Magnificent Seven, and his fund is playing both sides.
Markets cut rate cut bets as US inflation rises to 3.5pc
Stubborn inflation driven by fuel and rent has raised concerns of a resurgence in consumer prices and slashed expectations the Fed Reserve will start cutting rates in June.
Opinion
Albanese makes manufacturing his future
Labor wants to promote a future made in Australia. He knows it will have political appeal. What about the economics?
Columnist
Fed’s plans for three rate cuts this year thrown into disarray
The big question is whether the central bank can cut interest rates at all this year given the stubbornness of inflation – something it had tried to brush off.
Columnist
Trump’s Republicans are now Putin’s puppets
Republicans have a stark choice before the US presidential election: help Ukraine’s Volodymyr Zelensky or pay fealty to Donald Trump.
Columnist
Supermarket payback: How to overcome suppliers’ fear of complaining
The interim review of the Food and Grocery Code of Conduct tries to overcome suppliers’ fear of retribution from major retailers, but it may not go far enough.
Columnist
Forrest v Facebook’s impunity and audacity
World-first litigation sees Australia again become ‘ground zero’ for a showdown between public interest regulation and one of big tech’s worst online offenders.
Tech executive
Labor gives the ACCC the merger revolution it wanted
The only real bright spot for business is that the government has rejected the regulator’s initial call for the test for approval to reverse the onus of proof.
Regulation lawyer
Politics
Wong’s Palestine call was weeks in the making
Penny Wong spoke with numerous foreign ministers ahead of her speech on the Middle East.
Last thing Australia needs ‘is another car industry’, warns MCA boss
Labor should lay off “steering” business, invest in R&D and work with, rather than against, trade partners, says Minerals Council CEO Tania Constable.
More than 50,000 taxpayers are ghosting the ATO
Many have Tax Office debts of more than $100,000 that are older than 90 days, and they collectively owe about $15 billion. But they aren’t returning its calls.
Albanese to visit the Kokoda Track for Anzac Day
The prime minister and his PNG counterpart James Marape are expected to attend a dawn service at Isurava on April 25.
Protection is the ‘new competition’ as PM outlines new agenda
Anthony Albanese will declare the free market can no longer be relied upon and Australia needs “sharper elbows” to safeguard sovereignty and the national interest.
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World
- Analysis
- Fumio Kishida
US and Japan build new Asia-Pacific defence ‘latticework’
With an eye to both China and a possible Trump presidency, Joe Biden and Fumio Kishida are writing another chapter in America’s Asian alliance architecture.
AUKUS moving too fast on Japan: top Republican
A high-ranking Republican senator said Japan should not be included in AUKUS until Australia gets approval to receive secret technology under the agreement.
Boris Johnson: ‘You can’t make America great again if Ukraine falls to Putin’
The former UK PM urged Republicans in Congress to unite against Russia to maintain America’s status as the world’s pre-eminent superpower.
Olympics turns pro with $77,000 cash for track gold
World Athletics has set aside $US2.4 million to pay track and field gold medallists in Paris this year, as Olympic amateurism continues to fade away.
US warns Iran to abandon ‘plans for imminent missile strike’ on Israel
President Joe Biden said his commitment to Israel’s security was “ironclad” and that Washington would do “all we can” to protect it from an attack by Tehran.
Property
A different kind of property crash hits Dublin as Big Tech cuts
In the Irish Capital’s North Docks district, new buildings are falling into bankruptcy protection after US tech firms scaled back space and borrowing costs rose,
New housing starts sink to 11-year low; target behind by over a third
The latest figures show Australia’s largely market-driven system of housing development is falling further behind in meeting the country’s needs.
- Exclusive
- Luxury property
Mornington moves: Silbery to farewell ‘Portsea playground’
Health and pet care entrepreneur Craig Silbery has listed his Portsea escape, while Melbourne’s Biddick family snap up a second clifftop estate.
Six or nine storeys? NSW planning reforms leave industry guessing
Developers and architects are urging the Minns government to clarify how high they can build in rezoned land around 31 metro and rail stations.
- Opinion
- Gender pay gap
How to fix construction’s female problem
The gender pay gap in construction is entirely not surprising when the female participation in the industry is so low. Here are five strategies to fix it.
Wealth
- Opinion
- Aged care
Time to force wealthy retirees to tap super to pay for aged care
There is no good reason why today’s workers should fund aged care for older Australians who have accumulated generous superannuation savings.
- Opinion
- Super Q&A
Will borrowing to buy property in an SMSF affect my credit rating?
Some banks are happy to ignore loans in SMSFs, others will require detailed information about how you plan to service the loan.
What to do in your 20s, 30s and 40s to build wealth
Avoid ‘lifestyle creep’, establish good saving habits and pay down debt to get ahead.
Technology
Speed of development making it hard for firms to invest wisely in AI
Whether assessing safety, performance or efficiency, the groups tasked with stress-testing AI systems are rushing to keep up with the state of the art.
- Opinion
- Web culture
With 1 million unread messages, I quit Gmail
The once-revolutionary email service, which started 20 years ago, has become as cluttered as the rest of the internet.
Merger shake-up threatens to ‘kill off the start-up sector’
Tech leaders have warned that proposed merger laws will kill deals before they close, starving the sector of the capital it needs to continue to grow.
Work & Careers
New uni course gets executives match fit for net zero
The micro-credential course starting in May will fast track understanding of how to navigate carbon accounting, reporting and reduction strategies.
MinterEllison practice head poached by rival
Climate lawyer Sarah Barker has joined advisory outfit Pollination Group, as the climate and sustainability advice sector continues to grow.
Life & Luxury
Caffeinated coffee just became the drink of losers
When Weihong Zhang won this year’s US Brewers’ Cup it was the first time in the competition’s 20-year history that a decaffeinated beverage had taken the title.
Bula billionaires! Welcome to Fiji’s most expensive island
For $9000 a night, it’s little wonder Oprah Winfrey and George Clooney check in to Como Laucala Island resort – because too much luxury is never enough.
- Driving With Tony Davis
- Motoring
Why this $4m Bentley is the last of its kind
For $4 million-plus, you can own a piece of history: the limited-edition Bature W12 coupe. As to what might come next, read on.
Shriver is selling books, and losing friends, opposing Western guilt
Lionel Shriver, the fearless author of We Need to Talk About Kevin, discusses male disadvantage, hate speech laws and why universities are damaging themselves.
The TV show that got Americans hooked on Japanese success is back
The 1980 miniseries Shōgun is credited with making Japan’s history and even sushi popular in the West. Now, a remake is driving renewed interest in the country.
