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- Need to Know
Ten wins defamation case as judge finds Lehrmann raped Higgins
Justice Michael Lee has found Network Ten and Lisa Wilkinson were telling the truth in their report. More updates here.
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Defamation laws still too restrictive: Ten
Spotlight producer leaves Seven
Wilkinson hopes decision gives strength to women
‘Unmitigated disaster’ for Lehrmann: Ten
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- Breaking
- Lehrmann trial
Bruce Lehrmann raped Brittany Higgins, loses defamation case: judge
In more than two hours in court on Monday, Justice Michael Lee found Bruce Lehrmann sexually assaulted his former colleague in a Parliament House office in 2019.
Student Cheng Yixuan phoned fiance minutes before Bondi stabbing
Premier Chris Minns will establish an $18 million inquiry into Joel Cauchi’s killing spree as a Chinese woman was identified as the sixth fatality in the attack.
Forrests’ $10b philanthropic foundation to cut 100 jobs
Andrew and Nicola Forrest’s Minderoo Foundation will shed about a third of its workforce in an overhaul aimed at making better use of its iron ore endowment.
- Live
- Markets Live
ASX declines; Karoon rallies; Star, NextDC drop
Shares decline; fears that the Middle East conflict is about to break into region-wide war lead to choppy oil prices; Star shares drop as second public inquiry kicks off. Follow here for more.
- Breaking
- Casinos
Star executives monitored regulator’s schedule and plotted to sue him
A NSW inquiry into whether the company’s Sydney casino can continue to operate began on Monday. The casino was found unsuitable to hold a licence two years ago.
Markets brace for Israel retaliation; risk of oil hitting $US100
Markets traded cautiously on Monday after Iran’s attack on Israel, as traders weighed the consequences of escalating tension in the Middle East and a possible spike in petrol prices.
An insightful look at the week’s biggest tech stories, deals and trends delivered free to your inbox every Tuesday.
BONDI JUNCTION ATTACKS
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.
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.
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.
‘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.
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.
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Companies
Brokers split on Cettire despite surge in sales this year
Two of the four investment bank analysts following the luxury clothing marketplace have lowered their share price forecasts this year after an update last week.
Australian coal miner to sell Russian mines, port in fire sale
Tigers Realm Coal inked the $49 million deal after the Federal Court found it had breached sanctions put in place after Vladimir Putin’s Ukraine invasion.
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.
Companies in the News
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Markets
- Exclusive
- Venture capital
Made in Australia ‘over-due’ as Sydney VC forms $US150m fund in Singapore
Sydney-based VC fund Investible has secured Indonesia’s biggest bank as an investor, its CEO says Australia has ground to make up on regional peers.
The biggest market risk you’re probably not thinking about
Insight Investment’s Francesca Fornasari says investors cannot ignore currency markets, especially Australians who are sending billions of dollars overseas.
How markets were looking before the ASX opening bell
The S&P/ASX 200 and the Australian dollar were 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.
$2 trades: Superhero opens a new front in the broker fee war
Street Talk can reveal the online share trading platform will on Monday announce the most significant changes to its pricing since its launch in 2020.
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.
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
Arrests as protests over Gaza war disrupt major cities
Arrests have been made as train stations, ports and parts of Australia’s biggest cities are blockaded by widespread protests against the war in Gaza.
Labor resumes decline, marked down on key issues
The Albanese government has again lost its lead over the Coalition as voters mark it down over its handling of key issues.
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”.
SPONSORED
World
Biden pushes Israel to show restraint amid fears of widening conflict
The US has highlighted its role in helping Israel thwart Iran’s aerial attack as Joe Biden convened G7 leaders in an effort to coordinate a global rebuke of Tehran.
- 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
Welcome to Sydney, where a garage can set you back $500,000
The buyer of this neighbourhood space doesn’t have an electric vehicle. But enough people already do to make it an asset worth having.
- 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.
Wealth
Nine of the best games to play to supercharge your investing
What if you could learn everything you need to know about investing by playing a few board games? Here are nine that will give you a head start.
- 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.
Technology
- Exclusive
- Consulting
Consulting giant builds $300m Aussie cyber group with acquisitions
Following a string of acquisitions, Fujitsu has created a 300-strong team of cyber professionals to take on IBM, Accenture and CyberCX in Australia and New Zealand.
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.
Work & Careers
Male mentors drove Mostyn’s career, but she influenced them too
The next governor-general is best known as an advocate for professional women. She also had influential male mentors.
- Opinion
- AI
ChatGPT essay cheats are a menace to us all
Some universities are increasing face-to-face assessments to discourage AI cheating. Academics should be encouraged to expose the problem, not deterred from fixing it.
Life & Luxury
Scheffler wins second US Masters with commanding display
Much more than shed his tag as a one-major wonder, Scheffler’s third victory of the year has placed him in Tiger Woods-like company.
New airline Bark bets big on $9278 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.
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.
