High US inflation will delay rate cuts: Powell
The remarks represented a shift for Jerome Powell, who last month said the Fed was “not far” from gaining the confidence it needed to cut rates.
- Live
- Markets Live
ASX to slip as Powell warns on rates; US dollar surges
Powell says persistent inflation means rate cuts will be delayed. US dollar heads for best run in a year. IMF warns on protectionism. Follow here for more.
BHP tied to gas until 2053 as power need swells on electric fleet
Decarbonisation of Australia’s biggest export industry will require almost seven times more power and BHP wants gas to play a role until at least 2053.
- Updated
- Supermarket inquiry
Woolworths, Greens in fiery clash on profits
Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate, in a fiery Senate hearing that went off the rails on Tuesday.
- Live
- Need to Know
Chalmers ridicules McKim’s ‘confected’ supermarket outrage
The federal treasurer says the Greens are focused on TV grabs rather than consumers; Israeli strike kills senior Hezbollah commander; Nadal to clash with de Minaur.
Rinehart snares big stake in Lynas Rare Earths
The share raid has fuelled speculation that Australia’s richest person may emerge as a kingmaker in any rare earths mega-merger.
A rape, a cover-up narrative and a political firestorm
“Tonight, claims of rape, roadblocks to a police investigation, and a young woman forced to choose between her career and the pursuit of justice”. That is how Ten introduced its interview with Brittany Higgins.
- Drinks With Max Allen
- Food & drink
The godfather of Australian beer, Chuck Hahn, is not done yet
An insightful look at the week’s biggest tech stories, deals and trends delivered free to your inbox every Tuesday.
lehrmann verdict
- Analysis
- Legal industry
Bruce Lehrmann’s lawyer, Mark O’Brien, is on a losing streak
Losses in high-profile cases have experts wondering if Sydney’s client-friendly defamation culture is changing.
Higgins, Sharaz should settle with ‘vindicated’ Reynolds: Dutton
The opposition leader says Brittany Higgins and her fiancé David Sharaz should settle the senator’s defamation actions against them and issue a “full apology”.
- Opinion
- The AFR View
Forensic judgment proves rape, debunks political cover-up
Justice Lee’s factual pushback at some of the unthinking cultural warfare that has overwhelmed politics and media in recent times has performed a great service.
A rape, a cover-up narrative and a political firestorm
“Tonight, claims of rape, roadblocks to a police investigation, and a young woman forced to choose between her career and the pursuit of justice”. That is how Ten introduced its interview with Brittany Higgins.
‘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.
sydney shock
Attacks shake Sydney to the core
The NSW capital is reeling in the aftermath of the Bondi Junction massacre and a terror stabbing of a church minister in front of his congregation.
Leaders condemn terror attack, call for calm
Political and religious leaders have called for calm after a shock stabbing in a Sydney church has put some communities on edge for reprisals.
Muslims fear rise in Islamophobia as tensions run high after attack
There are fears in the Muslim community that law enforcement’s labelling of the stabbing of a bishop a terrorist attack will inflame Islamophobia.
Westfield, retailers at odds over pre-attack drills
Days after six people were fatally stabbed at a Westfield Bondi Junction, it has been revealed it did not perform drills on how to respond to such a threat.
Bondi attack shows lone-wolf threat changing: experts
Police forces need to beef up co-operation between units focused on domestic violence, hate crimes and fixated persons, criminologists say.
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Companies
- Analysis
- Supermarket inquiry
What is the true measure of a grocer’s profitability?
There’s solid ground to dismiss Nick McKim’s use of return on equity. But his audience is not wonky accountants – it’s disgruntled punters facing higher bills.
Jarden’s local investment bank turns profit after heavy cost cuts
Its co-chief executive, Aidan Allen, said the company had seen off deferred payments that had been a drag on profit since its inception almost four years ago.
Former Star CFO alleges the company tried to cook the books
Christina Katsibouba, who quit last month, told an NSW inquiry into the casino that her former boss did not want to be transparent about debt troubles.
EY cuts 148 jobs as consulting downturn deepens
The firm says the redundancies are needed to protect its financial position, and has told the affected staff they have a week to find a new internal role or leave.
Forrest met YAC leader in a park to conclude $1b dispute
Fortescue’s billionaire founder boss, Andrew Forrest, met Yindjibarndi Aboriginal Corporation leader Michael Woodley in a Perth park to resolve the legal dispute.
- Updated
- Supermarket inquiry
Woolworths, Greens in fiery clash on profits
Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate, in a fiery Senate hearing that went off the rails on Tuesday.
Melbourne, Brisbane should brace for bowser hit, retailers warn
Brent crude is up about 17 per cent since the start of the year, driven by supply concerns and escalating tension in the Middle East.
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Markets
Sticky inflation could cause sharemarket sell-off: IMF
The IMF’s warning came alongside new forecasts showing the Australian economy will grow at a historically slow pace this year.
What happened overnight?Powell confirmed a delay in rate cuts
If inflation pressures persisted in the US, the Federal Reserve could keep rates steady for “as long as needed,” Jerome Powell said.
LPE in River Capital’s cross-hairs after CEO sacking
The dismissed CEO of ASX-listed electricity company LPE supports Tuesday’s takeover bid by River Capital, which bought his shares.
- Opinion
- Chanticleer
Blackstone and BlackRock founders agree on investing’s next big thing
Some of the biggest names in global finance converged on Melbourne on Tuesday to kiss the ring of the super sector. One topic dominated.
$A hits five-month low as hopes of rate cut fade
The local currency fell to the lowest since November after surprisingly strong US retail sales data prompted traders to again taper rate cut bets for the world’s largest economy.
Opinion
Where Australia is getting it wrong on critical minerals
A new report argues that the government’s focus on domestic production and exports is failing to adequately help develop a secure network of supply chains with other countries.
Columnist
Attacks shake Sydney to the core
The NSW capital is reeling in the aftermath of the Bondi Junction massacre and a terror stabbing of a church minister in front of his congregation.
Senior writer
Forensic judgment proves rape, debunks political cover-up
Justice Lee’s factual pushback at some of the unthinking cultural warfare that has overwhelmed politics and media in recent times has performed a great service.
Editorial
Sustainable aviation fuel has been a talkfest for far too long
For a government that has flagged its commitment, there is surprisingly little policy. Australia still produces no SAF – and has no fully funded projects.
Senior reporter
Why bond markets are worried about a 1967-style ‘soft landing’
It’s rare for central banks to be able to pull off a “soft landing”, and even rarer for them to do so when official rates are below nominal economic growth.
Columnist
China stifles the debate it needs to have
What is the point of attending China’s most important public forum if foreign delegates are instructed before going on stage not to say anything negative about the economic outlook.
Asia watcher
Politics
Environment revamp on hold after WA alarm
The Albanese government has delayed indefinitely the overhaul of laws designed to protect the environment after lobbying from WA Premier Roger Cook.
Higgins, Sharaz should settle with ‘vindicated’ Reynolds: Dutton
The opposition leader says Brittany Higgins and her fiancé David Sharaz should settle the senator’s defamation actions against them and issue a “full apology”.
Albanese adds $585m to Australia-made drive
The prime minister is travelling to Queensland to announce two critical minerals projects as part of his Made in Australia push.
‘Two way street’: Umpire rules WFH push ignores face-to-face benefits
The Fair Work Commission has backed staff returning to the office for collaboration after dismissing a bank employee’s bid to work from home to care for his family.
‘Mind-blowing’ Tasmanian Devil tooth uncovered in WA’s Juukan Gorge
Local Aboriginal landowners had requested archaeological excavation of the area after it was destroyed by Rio Tinto blasting in May 2020.
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World
Horror fire engulfs Copenhagen’s historic stock exchange
Shocked passers-by raced to save artwork and treasures from the 400-year-old stock exchange building as its spire collapsed in flames.
- Analysis
- Israeli-Palestinian conflict
A US diplomatic victory of uncertain staying power
Joe Biden hoped the successful defence against Iran’s attack on Israel could give the major actors enough to claim victory and walk away. But Israel does not work that way.
China GDP grows faster than expected on fresh stimulus
The Chinese government is drawing on infrastructure work - a well-used playbook - to help lift the economy, as consumers remain wary of spending and businesses lack confidence to expand.
- Updated
- Courts
Trump’s criminal trial begins, but impartial jurors prove hard to find
The initial pool of prospective jurors dwindled rapidly. More than half of the first group of 96 were dismissed after indicating they could not be impartial.
Risk of wider conflict as Israel weighs its response to Iran
Facing pressure from all sides, Prime Minister Benjamin Netanyahu is reportedly looking for non-lethal options to retaliate against Tehran’s weekend missile fusillade.
Property
Westfield, retailers at odds over pre-attack drills
Days after six people were fatally stabbed at a Westfield Bondi Junction, it has been revealed it did not perform drills on how to respond to such a threat.
Toplace creditors vote to defer liquidation in hope of better return
Creditors of the collapsed developer founded by wanted fugitive Jean Nassif have voted for a scheme that may get them a better payout.
AI boom drives $174m data centre deal on 3.6pc yield
Macquarie Technology Group will acquire the Intellicentre Campus at Macquarie Park from Singapore’s Keppel DC REIT as it looks to lift data storage capacity.
- Exclusive
- Hotels
Gold Coast chicken farmers spend $45m on Brisbane hotel
The Singh family has bought the 179-room former Pacific Hotel in Spring Hill and converted it to a Mercure hotel to be operated by Accor.
Warehouse construction to surge again, but no oversupply fears
Warehouse completions fell by almost 1 million square metres last year, but the stabilisation of debt and construction costs will fuel a strong rebound.
Wealth
Mark escaped mortgage prison. Thousands more remain trapped
Brokers say “lowball” valuations are on the rise as home owners struggle to refinance.
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.
Technology
Apple exec’s secret to success: don’t take notes
In his first day of cross-examination, Apple Fellow Phil Schiller lays out its casual but obviously effective approach to decision-making.
- Opinion
- Digital Life
A router that will (eventually) make your home Wi-Fi fly
Can you save money and improve download speeds, both at the same time? With WiFi 7, we think you can.
AI to create 150,000 jobs, claim the academics who study it
A new economic analysis by a consortium of top Australian professors has found AI should add 150,000 jobs to the economy by 2030 and boost GDP by $200b a year.
Work & Careers
‘Two way street’: Umpire rules WFH push ignores face-to-face benefits
The Fair Work Commission has backed staff returning to the office for collaboration after dismissing a bank employee’s bid to work from home to care for his family.
Star chef Matt Moran reveals his dinner party secrets – and pet hates
At age 15, Matt Moran dropped out of school and learnt to cook. Along the way, he has learned how to run a business, manage people and stay sane.
Life & Luxury
The Joe Biden guide to dressing younger
When Donald Trump derides his rival as doddering Uncle Joe, he is missing a point any tailor would point out – there is getting old, and there is looking old.
Surfing’s GOAT, Kelly Slater, hangs up his wetsuit
While the 11-time world champion did not officially announce his retirement, Slater said he was heading into a new chapter of his life.
The business owner who outsourced her fashion choices
Michelle May, real estate principal, used to wear head-to-toe black. When she launched her own business, she was adamant she would be herself. In colour.
He’s blinded in one eye, but Salman Rushdie’s vision is undiminished
The author’s brush with death came more than 30 years after Iran’s ayatollah issued a fatwa calling for his killing over the ‘The Satanic Verses’.
Tasting Australia’s $795 debut train trip an instant sell-out
“I’ve come up with a menu that will work in a galley,” chef Asma Khan says of the coming journey. Here’s a taste of this and other events at next month’s culinary extravaganza.
