- Updated
- Crime
Six killed in stabbing attack at Sydney’s Bondi Junction mall
Six people have been killed after a lone attacker went on a stabbing rampage inside a Westfield shopping centre in Sydney’s Bondi Junction.
Five females, one male killed in stabbing attack
Six people have died, and several others are in a critical condition after a stabbing attack at Bondi Junction Westfield in Sydney’s eastern suburbs. How the day unfolded.
Tragedy in Sydney: How the day unfolded in pictures
Police say a man moved through the shopping centre on Saturday afternoon and “engaged with about nine people” by stabbing them.
Qantas diverts Perth-London flights amid Middle East tensions
The airline’s direct service will be diverted via Singapore amid fears Iran is planning an imminent attack on Israel.
Why the RBA won’t cut rates until 2025
Investors have delayed interest rate cut expectations to February next year – close to the federal election.
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.
‘Destined for greatness’: Lehrmann judge tested his arm with former PM
All eyes will be on Justice Michael Lee – arguably the best-known judge in the land – when he hands down his judgment in the Bruce Lehrmann defamation case on Monday.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
weekend reads
- Explainer
- Housing crisis
The five barriers to building 1.2 million homes by 2029
Creative solutions are needed to hit the ambitious national target set out by the government to boost desperately needed supply and solve Australia’s housing crisis.
What every manager can learn from Boeing’s strife
The flight path is depressingly familiar as a succession of its leaders, in thrall to Jack Welch’s GE management teachings, dismantled a once-great plane maker.
The merger that is paying competition dividends
The new deal laws out this week suggest that bringing Gina Cass-Gottlieb into the ACCC led to a poacher-turned-gamekeeper story for the ages.
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.
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.
smart investor
What to buy if you can’t afford a house
The best investment bets are boutique unit complexes in blue-chip suburbs.
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
- Inflation
Inflation shocks bond bandits
The spike in US inflation has caught equity and debt investors napping, writes Christopher Joye.
- 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.
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.
Macquarie short-listed in $772m Indian road auction
The Australian bank is competing with a Canadian pension fund for the roads held in India’s Athaang Infrastructure.
- 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.
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.
‘Destined for greatness’: Lehrmann judge tested his arm with former PM
All eyes will be on Justice Michael Lee – arguably the best-known judge in the land – when he hands down his judgment in the Bruce Lehrmann defamation case on Monday.
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.
The damage done to Seven West Media from cocaine and prostitute claims
Weeks of headlines haven’t dampened advertiser appetite for Seven’s footy ads, media buyers say. But that is not strictly true for its reputation and its board.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
US stocks tumble as war fears send ‘fear gauge’ to six-month high
Equities had their worst day since January after a report that Israel was bracing for an attack by Iran on government targets. The VIX index jumped 16 per cent.
Oil jumps, Treasuries surge on fears Iran will attack Israel
Bond yields tumbled a and crude oil surged to a six-month-high following reports that Israel is bracing for a possible attack from Iran.
Dimon warns of ‘unsettling’ pressures on global markets
The CEO of JPMorgan sees a cascade of pressures including war, rising geopolitical tensions and inflation weighing over markets.
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.
ASX closes lower, as rate worries mount; Domino’s, Star fall
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.
Opinion
The week Australia travelled further down the dead-end policy road
At the least, the Treasurer should join with whoever can claim to be an economic rationalist in this government to yell stop, wrong way, go back.
Editorial
Albanese is setting the Labor Party up for failure
The prime minister’s Future Made in Australia plan is part of a shift to bigger government and higher taxes that will sap support for the government – eventually.
Senior correspondent
Inflation shocks bond bandits
The spike in US inflation has caught equity and debt investors napping.
Columnist
Wong and Dutton leave Arabic and Islamic Australians feeling abandoned
Both major parties are wildly out of step with the views of people they must woo if they want to win the next federal election.
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
Politics
Tax changes may make super the best place to stash cash
New analysis shows the changes will have the perverse effect of entrenching tax benefits for some of the country’s wealthiest, spurring calls for widespread tax reform.
- Exclusive
- Federal budget
PM’s Made in Australia green plan a ‘slippery slope’
Former Productivity Commission heads back Danielle Wood’s concerns that the government’s proposal needs clearly defined objectives and exit strategies.
Wong joins world calls for restraint from Iran
Foreign Minister Penny Wong has backed a US-led push urging Tehran not to attack Israel.
- Exclusive
- Industrial relations
CFMEU push to take control of the Labor Party
John Setka plans to use the militant union’s hundreds of delegates and members to boost its influence on internal ALP politics in Victorian and federal parliaments.
Australian COVID-19 deaths hit new lows
After eight successive waves of COVID-19 infections, national COVID fatalities have dropped to below single digits.
SPONSORED
World
US deploys military assets over ‘imminent’ threat of Iran attacking Israel
Officials said they had deployed “additional assets” to the region in light of threats by Tehran of a retaliatory air strike on Israel.
- Analysis
- Monetary policy
Hot inflation torpedoes Biden’s White House bid
Consumer prices are rising quickly at just the wrong time for the US president.
- 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.
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.
Property
Housing angst: 840 days and still waiting on a planning permit
Melbourne architect Michael Smith warns that lengthy council planning approvals can kill good projects at a time when more housing is desperately needed.
- Exclusive
- Luxury property
Gold bullion chief expands harbourside block with Vaucluse buy
Pallion COO Paul Cochineas has expanded his blue-chip Vaucluse foothold, paying $17.6m for a neighbour’s home.
- 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.
Wealth
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.
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.
Technology
- Exclusive
- Cybersecurity
Suncorp’s bank suffers breach, customer funds stolen
The bank said it had restricted a “small number” of accounts that had been accessed and returned money to affected customers.
Can AI help you get more laughs than The New Yorker’s cartoonists?
Researchers from the University of Sydney have measured whether AI can help beginners master the New Yorker Cartoon Caption Contest.
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.
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.
- Exclusive
- Industrial relations
CFMEU push to take control of the Labor Party
John Setka plans to use the militant union’s hundreds of delegates and members to boost its influence on internal ALP politics in Victorian and federal parliaments.
Life & Luxury
Aussies Davis, Smith raise hopes of elusive Masters triumph
Cam Davis has held his nerve to upstage his more-fancied Australian compatriots and surge into contention during the windswept Masters at Augusta National.
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.
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.
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.