Israel repels Iran’s drone, missile attack
Israel vowed victory against its enemies on Sunday after thwarting Iran’s unprecedented drone and missile attack on Israeli soil that threatened to push the Middle East into a regional war and upend global markets.
- Analysis
- Israeli-Palestinian conflict
Iran’s attack was massive. What will Netanyahu do next?
The Israeli prime minister may be prepared to tolerate Iran’s attack, rather than retaliate, given Israel had plenty of time to intercept almost all of them.
Police to probe if Bondi killer targeted women
Police are investigating if Joel Cauchi was targeting women when he murdered six people during a nightmarish stabbing spree in Sydney.
Treasurer hints at investment allowance tax breaks
Jim Chalmers has flagged a type of business investment allowance to drive capital towards green energy and advanced manufacturing projects.
Labor push to delay aged care pay rise over worker shortage fears
The Albanese government has warned a large pay jump could fuel labour shortages and risk its budget strategy of cost of living relief without added inflation.
Jon Adgemis races for rescue deal in talks with Deutsche Bank
Bain Capital formally walked away from a $500 million-plus refinancing of his empire last weekend.
ASX to fall as spectre of Mid-East war weighs on shares, $A
The S&P/ASX 200 and the Australian dollar are poised to drop on Monday on worries that Iran’s first direct attack on Israel could trigger the regional war investors have been afraid of.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
BONDI JUNCTION ATTACKS
Cop who stopped Bondi killer praised as ‘best in this state’
The hero police officer who shot the Bondi Junction knife attacker Joel Cauchi has been praised for her courage, but it’s not the first time she’s been commended.
Details emerge about Bondi killer Joel Cauchi
Bondi killer flagged an interest in guns, frequented strip clubs and made repeated attempts to meet people in the weeks leading up to Saturday’s rampage.
- Opinion
- Mental health
Drugs and mental illness a fatal mix
It is not uncommon for mental health patients to fall off the radar of authorities. But the dangers explode when sufferers come into contact with illegal drugs.
How strangers frantically tried to save each other in Bondi
Onlookers recount the nightmarish scenes at a Sydney shopping centre as a man killed six people including Ashlee Good, Jade Young, Dawn Singleton and Faraz Tahir.
- Opinion
- The AFR View
Bondi Junction tragedy brings out the best
The carnage at Bondi Junction Plaza may have lessons for mental health management. But it was also a violent exception that proves the rule of a harmonious society.
MEDIA & MARKETING
Digital publishers fear Meta is already preparing for news ban
Online publishers say they’re now considered “news media” to Meta, much to their horror; Bruce McWilliam pushes back against photo claims.
Media fury as Albanese government flirts with $400m fast food ad ban
The television industry and large advertisers have slammed a study on restricting ads for “unhealthy food”.
- Exclusive
- Media & marketing
News Corp plots major shake-up as Meta money ends, Google deal nears
News Corp Australia executive chairman Michael Miller has proposed tightening the company into three core units, finding at least $15 million in savings.
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.
‘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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Rio turns to Mars exploration tech in search for next big discovery
Rio Tinto has not disclosed a major mineral discovery since finding a copper-gold deposit in WA in late 2017, but is hoping to turn that around using technology from NASA.
TPG, iiNet email accounts bounce to Philippines, Norway
Users of TPG Telecom and iiNet email have to deal with a call centre and a parent company in the northern hemisphere after their accounts were handed over to The Messaging Company.
- Opinion
- Investigation
James Mawhinney’s surveillance game of cat and mouse
While the Financial Review was following James Mawhinney’s investment schemes, it turns out he was trying to follow us, writes Jonathan Shapiro.
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 $772m Indian road auction
The Australian bank is competing with a Canadian pension fund for the roads held in India’s Athaang Infrastructure.
- Analysis
- Carbon challenge
Woodside treads impossibly fine line on climate demands
Whether new oil and gas projects can align with the Paris Agreement is central to the oil and gas producer’s stoush with activists and some proxy advisers.
Star reveals more losses as it braces for public hearings
Star told investors it was losing large sums of money from customers visiting VIP areas, where trading is down.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Interest rates
The Fed is becoming less fussed about high inflation
The market continues to be wrong-footed on US rates. The question is whether the Fed Reserve has shifted its focus to supporting growth over fighting inflation.
LME bans new Russian metal, but braces for a flood of old stock
Some traders and producers have argued that exchange should ban all Russian material to avoid being overwhelmed by a flood of unwanted stock, which they say is depressing prices.
![Former US Fed chairman Ben Bernanke put it bluntly: “It’s important to have people in key areas [who] understand the details and can stand up to an MPC member and say: ‘no, you’re wrong’.”](http://web.archive.org./web/20240414171310/https://static.ffx.io/images/$zoom_0.5298%2C$multiply_2%2C$ratio_1.777778%2C$width_1059%2C$x_0%2C$y_0/t_crop_custom/c_scale%2Cw_140%2Cq_88%2Cf_auto/6d2b85096d048e8b0a522ef5285874bd81e934a7)
How ‘flamethrowers’ and creaking IT burnt the Bank of England
For more than three decades, the BoE has used fan charts to visualise the uncertainty surrounding its forecasts. As Ben Bernanke pointed out, most people have no idea what they mean.
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 and crude oil surged to a six-month-high following reports that Israel is bracing for a possible attack from Iran.
Opinion
James Mawhinney’s surveillance game of cat and mouse
While the Financial Review was following James Mawhinney’s investment schemes, it turns out he was trying to follow us.
Senior reporter
Iran is now caught up in a mess of its own making
The Tehran regime’s use of proxy forces has left it boxed into a regional fight that it does not really want.
Corporate advisor
Turning 60 feels like 40 in Japan’s certain age crisis
Japan’s ageing population means you’re still young at 60. That’s great if you’ve just celebrated that birthday. For the country, it’s a problem.
Contributor
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
Politics
Business leaders blast pro-Palestine protests aimed at hurting economy
Victorian Chamber of Commerce and Industry says pro-Palestine protests aimed at causing maximum economic damage are “un-Australian and disrespectful”.
- Updated
- Crime
Police name stabber who killed six at Sydney’s Bondi Junction mall
Police have identified the man who killed six people in a stabbing rampage inside Westfield shopping centre in Sydney’s Bondi Junction. Dawn Singleton, a daughter of businessman John Singleton, and Ash Good have been named as two victims.
Tragedy in Sydney: How the Bondi attack unfolded in pictures
Police say a man moved through the shopping centre on Saturday afternoon and “engaged with about nine people” by stabbing them.
‘I just saw this empty pram’: How strangers frantically tried to save mother
A new mother was forced to throw her bleeding baby into a stranger’s arms as she tried to escape a rampaging knife man who murdered her and five others on Saturday.
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.
SPONSORED
World
A look at Iran’s military capabilities as it threatens Israel
The Iranian armed forces are among the largest in the Middle East, with at least 580,000 active-duty personnel and about 200,000 trained reserves. Here’s a look at Iran’s military and its capabilities.
Ukraine’s top commander says front has ‘significantly worsened’
Ukraine’s outmanned and outgunned army is struggling to halt a multipronged and intensifying Russian offensive.
Red tape warning despite booming Japan-Australia deals
Japanese investment in Australia is rising, but a new report shows data is mixed, and Australia is warned about policy uncertainty and delays in approving deals.
Trump to make history with sordid ‘zombie’ trial
A previously stalled probe over alleged pay-offs to a porn star has led to the first criminal trial against a former US president that starts this week.
US, Israel shoot down ‘nearly all’ Iranian drones, missiles
Joe Biden vows “ironclad commitment” to Israel, convenes G7 meeting; Albanese joins condemnation of Iran; UN Security Council to hold urgent meeting. Follow live.
Property
Queensland’s Emerick family lists Mulgowie portfolio for $200m
The Mulgowie Farming Company, Australia’s largest grower of sweet corn and green beans, has come up for sale for the first time in its history.
Budget-conscious holidaymakers drive big rise in caravan park revenue
New figures from accountants and adviser BDO show a 12 per cent rise in the average revenue of holiday and caravan parks this summer.
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.
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
How soon will machines outsmart us? Biggest brains in AI can’t agree
Elon Musk’s prediction that artificial intelligence will surpass human experts by 2025 sets him apart from rivals at OpenAI, Google and Meta.
- 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.
Work & Careers
Sam Mostyn promoted women’s careers, but men made hers
The next governor-general is best known as an advocate for professional women. But to build a business career, she was forced to rely on male patrons.
Labor push to delay aged care pay rise over worker shortage fears
The Albanese government has warned a large pay jump could fuel labour shortages and risk its budget strategy of cost of living relief without added inflation.
Life & Luxury
Tiger Woods melts down as Scheffler takes Masters lead
Tiger Woods shot his worst round in a major championship in the third round of the Masters, while Rory McIlroy also failed to step up at Augusta.
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.
