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.
- Live
- Markets Live
ASX to fall amid rising geopolitical tensions; oil up
Shares are poised to decline; fears that the Middle East conflict is about to break into region-wide war pushed up oil prices; US reporting season kicks off this week. Follow here for more.
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.
Labor support among voters resumes decline
The Albanese government has again lost its lead over the Coalition as voters mark it down over its handling of key issues.
- Live
- Need to Know
Israel draws up plans to attack Iran in response to drone strike
Israel has said it has drawn up plans to attack Iran in response to Saturday’s missile and drone strike’ Police are investigating if the Bondi attacker was targeting women. More updates here.
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.
- 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.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
BONDI JUNCTION ATTACKS
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.
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.
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.
- 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.
- 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
Borrowers agitating for better mortgage deals are saving $2000 a year
New data shows lenders are willing to slice an existing mortgage rate by 0.46 percentage points, on average, when a customer negotiates on price.
- Analysis
- Due diligence
Why this time might be different for serial underperformer Lendlease
A demerger is often the go-to solution for companies weighed down with an underperforming division. But it might not stack up for under-pressure Lendlease.
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.
Payment provider Findi lands licence for branded ATMs in India
Findi is backed by Wilson Asset Management and the Flannery family. The company expects to rebrand about 4000 ATMs which it already operates for the State Bank of India.
- 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 $1.9 billion bid, with one-off dividends attached.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Interest rates
The Fed is becoming less fussed about high inflation
The market continues to be wrong-footed on US rates. The question is whether the Fed Reserve has shifted its focus to supporting growth over fighting inflation.
LME bans new Russian metal, but braces for a flood of old stock
Some traders and producers have argued that exchange should ban all Russian material to avoid being overwhelmed by a flood of unwanted stock, which they say is depressing prices.
![Former US Fed chairman Ben Bernanke put it bluntly: “It’s important to have people in key areas [who] understand the details and can stand up to an MPC member and say: ‘no, you’re wrong’.”](http://web.archive.org./web/20240414215548/https://static.ffx.io/images/$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
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.
Editorial
Regional banks dying a slow death
The country’s smaller banks have a bleak future due to higher cost of funds, excessive capital requirements, costly technology upgrades and lack of scale. But will regulators do anything about it?
Contributor
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
Politics
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.
- Exclusive
- Tax reform
Former Labor minister calls for major tax shake-up
The nation “relies too much on personal income tax and corporate income tax” and “there are limits to the sustainability of that”, the OECD’s tax official and former Labor minister David Bradbury says.
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”.
Start-up’s plan to refreeze the Arctic
A new start-up is fighting climate change by thickening ice in the Arctic.
- 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.
SPONSORED
World
Biden pushes Israel to show restraint amid fears of widening conflict
The push to encourage Israel to show restraint mirrored ongoing American efforts to curtail Israel’s war against Hamas in Gaza, which is now in its seventh month, and to do more to protect civilian lives in the territory.
- 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.
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.
Property
- Exclusive
- Commercial real estate
Japan investment in Australian real estate hits $2b record
Japanese investors are tapping Australia’s population growth through commercial 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.
Wealth
- Opinion
- Investing
Where to shop for opportunities in the retail sector
Consumer spending may start to turn around from mid-year, throwing up opportunities in retail companies.
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.
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
New airline Bark bets big on $9000 flights for dogs
Pets are often flown to the wrong destinations or mishandled by airport staff. This private jet service, including “dog Champagne”, aims to solve that.
- Drinks With Max Allen
- Wine & spirits
Tasting Australia 2024: a drinker’s guide
A round-up of the best wine-related events at this year’s festival, from parties to tastings to masterclasses and more.
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.
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.
