RBA won’t cut interest rates until 2025
Investors have delayed interest rate cut expectations to February next year – close to the federal election.
- Explainer
- Housing crisis
The five barriers to building 1.2m homes by 2029
The first major hurdle to building enough new homes across the country is that councils set their own approval targets and are under no obligation to meet them.
Meet the former refugee retiring at 50 thanks to gold’s surge
Tung Nguyen has invested heavily in gold and bitcoin via his SMSF.
Copper is back as investors cash in on the ‘reflation trade’
A new commodity upswing is under way, creating widespread opportunities for investors. But pundits warn that could also contribute to stickier inflation keeping rates higher for longer.
Super fund sued over customers’ unpaid penalties in ‘unique’ case
The claim that ESSSuper left customers more than $40 million out of pocket could prove a test case on how rigorously the $3.6 trillion industry is held accountable for meeting its trustee duties.
- Live
- Markets Live
ASX slips as gold, oil jump; Star Group, Domino’s slump
The Fed comments came as Wall Street banks predicted rates would not drop until December; Gold miners rally on price rise. Cettire slips despite strong sales. Follow the latest here.
- Opinion
- Chanticleer
Six ways ‘Mercedes’ mortgages could hurt Australia
A series of changes in the banking sector is making lenders take less risk. One veteran analyst says that has grim ramifications for investors and the nation.
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review
Havana Syndrome: Inside the mysterious attacks on CIA officers
New evidence points to unexplained health problems possibly caused by energy weapons wielded by Unit 29155 of the GRU, Russia’s military intelligence service.
- Opinion
- Government debt
Global debt can’t keep growing forever
Now ultra-low interest rates have ended, large-scale government borrowing looks unsustainable.
- Opinion
- Trump's America
Donald Trump has flipped the power relationship with Rupert Murdoch
The ex-president is so popular among viewers that Fox News will be compelled to promote him, despite a falling out with the network’s proprietor.
The rise of the home husband
Changes in the structure of work make it more likely wives will go to the office and men will work from their abode.
- Opinion
- Web culture
I used to love Gmail. Here’s why I just quit it
The once-revolutionary email service, which started 20 years ago, has become as cluttered as the rest of the internet.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Kerry Stokes’ Seven rains dividends to win over Boral
The independent directors of the cement group are now recommending shareholders accept the revamped $1.9 billion bid, with one-off dividends attached.
- Analysis
- Carbon challenge
Woodside treads impossibly fine line on climate demands
Whether new oil and gas projects can align with the Paris Agreement is central to the oil and gas producer’s stoush with activists and some proxy advisers.
Surge in Cettire sales fails to win over investors
The embattled online luxury retailer surprised the market with the early release of quarterly sales numbers, but they failed to stir the share price.
Star reveals more losses as it braces for public hearings
Star told investors it was losing large sums of money from customers visiting VIP areas, where trading is down.
- Exclusive
- Energy
HESTA sides with Woodside on 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.
- Updated
- Cloud
NextDC boss says nuclear should be on table as AI sucks up energy
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.
- 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.
Companies in the News
Search companies
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Markets
- Analysis
- Inflation
Why the war on US inflation is far from over
Rent hikes are playing an increasingly large role in American price rises. That’s a political headache that President Biden does not need heading to the election.
‘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.
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.
What happened overnight? Fed officials highlighted ‘need for patience’
Federal Reserve Bank of Boston President Susan Collins and New York Fed President John Williams said it might take more time to gain confidence to begin easing rates.
ECB leaves rates unchanged as central banks wrestle with cuts
The European Central Bank and the developed world’s other central banks are tilting toward undoing some of the sharp increases to interest rates as US inflation remains strong.
Opinion
Inflation shocks bond bandits
The spike in US inflation has caught equity and debt investors napping.
Columnist
Political point-scoring blinkers everyone’s approach to Gaza
Anthony Albanese is right to say the impact Australia can have on the behaviour of either side of the conflict is “limited”. But that has long ceased being the point.
Political editor
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
The case for comprehensive statecraft
Closer co-operation between government, business and civil society organisations would support more ‘whole-of-nation’ approaches to geopolitical competition.
Foreign policy expert
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
Politics
DPP drops Forrest’s fraudulent ads case against Facebook
The public prosecutor has closed Andrew Forrest’s bid to hold Meta to account over an alleged scam; extra NT police will patrol Alice Springs after the youth curfew ends on Tuesday. Here’s how the day unfolded.
- Exclusive
- International students
Plan to slug international students with big increase in visa fees
Sensitive about high migration numbers, the Albanese government is set to massively increase fees for student visa applications.
The ACCC’s poacher turned gamekeeper is reshaping the M&A landscape
When Treasurer Jim Chalmers this week unveiled the biggest overhaul of merger laws in 50-odd years, ACCC chairwoman Gina Cass-Gottlieb was cheering the loudest.
PM’s Made in Australia plan risks forever subsidies
The government’s hand-picked Productivity Commission chair says the Future Made in Australia Act risks creating a class of businesses reliant on subsidies.
More Queensland construction workers to get at least $200k a year
Civil contractors say the Queensland Labor government has “created a monster” with its civil project conditions that are lifting costs for everyone.
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World
Japan is finally waking up from its lost decades. Can it last?
The country is doing defence deals and its economy is powering up. But it has a fight on its hands to keep the momentum going given its structural challenges.
US vows ‘ironclad’ support for Japan, Philippines against China
President Joe Biden discussed security in the South China Sea with the leaders of Japan and the Philippines at the White House.
US sends top general to Israel as Iran strike fears rise
The visit of General Michael Kurilla, the US military commander in the Middle East, came as diplomats urged Iran to stand down to avert a wider war.
Australians battling early at the windswept Masters
Min Woo Lee faces a fight to make the halfway cut and big guns Cameron Smith, Jason Day, former champion Adam Scott and Cam Davis are all still on the course.
Ukraine’s army at breaking point after new Russian missile strikes
Ukraine is at its most fragile in more than two years of war, according to officials, as Russian missile attacks blow up Kyiv’s biggest power plant.
Property
- Exclusive
- Luxury property
Findex family behind $77m Toorak trophy home double deal
Findex co-founder Spiro Paule and his wife, Conny, have emerged as the mystery circa $40 million buyers of the grand Toorak estate of the late fund manager, David Hains.
Real estate tycoon sentenced to death in huge $19b fraud case
Truong My Lan started by selling perfume in a market but rose to become a billionaire real estate developer. Now she’s been sentenced to death in Vietnam’s biggest fraud case.
It’s NIMBY v YIMBY as Victoria’s housing crisis grows
A Melbourne council’s plan to increase “vibrancy” by prohibiting apartment developments unless they allow commercial space has been lashed by developers.
- Exclusive
- Retail property
Theatre king David Marriner sells Chanel building for $75m
Theatre impresario and developer David Marriner has sold the multistorey Chanel building in Melbourne for $75m to the fashion house’s billionaire owners.
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,
Wealth
Billion-dollar wealth hit afoot as BHP’s dividends fall
The big miner’s place in history and our retirement savings means nearly 70 per cent of Australians face a financial hit as it prepares to pay lower cash dividends.
- 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.
Technology
Apple set to overhaul entire Mac line with AI-focused M4 chips
The tech titan is harnessing the hunger for artificial intelligence to boost sluggish computer sales.
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.
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
Why AGL chairman Patricia McKenzie couldn’t get a job in a law firm
She almost didn’t take up legal studies in the first place, but didn’t expect to find job hunting so difficult.
Death of Baker McKenzie associate rocks law firm
NSW police attended Baker McKenzie’s Sydney office after the death by suicide of an associate, which has left colleagues devastated.
Life & Luxury
This week’s edits of lovely little luxuries: golf and go-to glitter
From statement golf accessories to a classic Chanel bag reimagined, we have inspired suggestions for you.
Board games are being simplified for the TikTok generation
Younger audiences, accustomed to scrolling through short videos, need fast-paced and easily digestible experiences.
Bottling your holiday is a growing business
A couple’s romantic idea to capture the scent of their luxurious family hotel in Positano has launched an international range of fragrances.
Sunak apologises to Adidas Samba wearers for ‘ruining’ their coolness
A video of British Prime Minister Rishi Sunak in the white trainers went viral on social media, sparking another uproar about his fashion choices.
This famous artist hates questions, and isn’t afraid to let you know
Celebrated Australian artist Dale Frank, whose 10-year survey has just opened at the National Art School in Sydney, will answer your questions. Begrudgingly.
