Chalmers warns of ‘fraught and fragile’ outlook
Returning from Washington, the treasurer warned of a precarious global outlook, citing slower growth forecasts for China, Britain and Japan in the May budget.
ASX to bounce as Middle East stand-off appears to ease
The rise would go some way to walking back the worst week in six months, but attention is back on crucial inflation data that will point the way on rates.
Property price rebound is ‘remarkably resilient’
Across the nation, the housing rebound is proving resilient despite higher borrowing costs, and a panel of 10 experts tips median gains of 5 per cent nationally.
One of Cettire’s most prominent backers has sold out entirely
LHC Capital was talking up the ASX-listed luxury retail platform’s prospects a few months ago. Now it has told investors it has sold out.
Limits of social media laws highlighted by Musk’s mockery
The billionaire X owner’s mocking of demands that footage of the Sydney church stabbing be taken down has highlighted how ineffective Australia’s laws are, experts said.
Cautious buyers drag down Sydney auction clearance rate
Strong auction results are becoming rare in Sydney as more buyers are reluctant to stretch their limits, agents say.
Widow claims dodgy NAB advice voided $400,000 in life insurance cover
The case revives a central issue raised during the financial services royal commission – vertical integration of banking and financial advice.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
MEDIA & MARKETING
TV networks have lost 83pc of young viewers to TikTok, YouTube
The Seven, Nine and Ten networks are trying to convince the government to protect their role in airing sport for free, as global competitors lure away viewers.
- Analysis
- Lehrmann trial
What Bruce Lehrmann could do next
Bruce Lehrmann has 28 days to appeal, but he needs to find the lawyers and the money first.
Ex-Seven producer demands compensation, apology from Seven
Taylor Auerbach, who helped secure Bruce Lehrmann for an exclusive Spotlight interview, says he has been proven right by the Federal Court’s decision on Monday.
- Exclusive
- Publishing
News Corp drafts in PwC as it deals with Meta cash hole
News Corp has tapped PwC Australia to help with its biggest restructure of the last decade as it seeks to deal with Meta ripping tens of millions of dollars out of the Australian news market.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Fortescue slams Biden administration’s green hydrogen tax rules
The Andrew Forrest-chaired iron ore major has ambitious plans to become a force in renewable energy. But proposed US rules would stifle growth, it warns.
Bankers try on a new alternative asset class – surfing
The risk is high, but Urbnsurf – now backed by Nomura and a special situations lender – is trying to prove wave parks can be serious business.
Inside the rise and fall of EV player Tritium
Brisbane fast-charger company Tritium listed on the Nasdaq with a $2 billion valuation in 2022, but it didn’t take long for things to go awry.
- Exclusive
- Private banking
Goldman eyes local banking licence to grow ultrarich lending business
The Wall Street investment banking giant has made no secret of its desire to expand its private wealth division. There are limits on what it can do.
Widow claims dodgy NAB advice voided $400,000 in life insurance cover
The case revives a central issue raised during the financial services royal commission – vertical integration of banking and financial advice.
- Analysis
- Monetary policy
How government debt could blow up the global financial system
As Western governments shy away from debt reduction and structural reform, investors must reassess their view of “safe” assets.
Booming AI demand threatens electricity supply
Regulators are scrambling to factor the explosive growth of data centres into demand projections as one network warns of a 250 per cent surge in power needs.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Investing
The S&P 500 keeps defying the equity bears – here’s why
A pessimistic outlook hasn’t stopped a serious rally in the past year, but it may have further to run.
Commodity traders bet on big data and AI
Firms that traditionally relied on political connections, handshakes and logistical skill to move natural resources to willing buyers are increasingly focused on how to apply AI.
Dow recovers as Iran plays down strike; techs plunge
Global stocks recovered from the shock of the strike on Iran but a plunge in the “magnificent seven” tech stocks weighed on the Nasdaq.
Next bitcoin halving is different for this one reason
The fourth bitcoin halving is imminent, but it’s already looking very different from previous cycles.
Commodity markets perplexed why gold keeps going up
The precious metal’s decoupling from the traditional drivers of prices has analysts divided on its outlook.
Opinion
Appeasing Iran has proven weak and provocative
If Tehran’s power can be contained and then reduced, the Middle East will be a much more peaceful place.
Columnist
A hot tip for CEOs – reputation counts for everything
Woolworths, Qantas and AMP are among once-loved brands that have faced customer ire. Now they’ve added reputation metrics to executive pay calculations.
Infrastructure reporter
Future made in Australia critics show old orthodoxies die hard
The existential climate challenge is Australia’s opportunity to reverse the policy settings that hollowed out manufacturing.
Emeritus Professor
Hearings shouldn’t be McCarthy-like blood sport
The Greens’ cheapening of the purpose of parliament’s power to compel witnesses to appear is too galling for Australian business to remain silent.
A traumatic week, and a need for calmer politics
Murder in Bondi Junction and terrorism in western Sydney have come to a country already demoralised by a cost-of-living crisis. Time for politicians and other opinion formers to put the hyperbole away.
Editorial
America’s Superman foreign policy flies again
The hard realism of Asian allies about America’s direction must jostle with the return of uncompromising American unilateralism.
International editor
Politics
NSW set to lose its AAA credit ratings: Mookhey
The NSW Treasurer has blamed a $12 billion budget hit on the GST carve-up, as he conceded the state would be stripped of its top-tier ratings.
Higgins must accept there was no cover-up: Reynolds
Senator Linda Reynolds will proceed with her defamation lawsuit unless Brittany Higgins and David Sharaz accept Federal Court findings there was no cover-up of rape.
WA tells energy giants to ‘use it or lose it’ on gas fields
Companies such as Chevron and Santos with “pending” applications to retain licences for undeveloped gas fields could feel pressure from Canberra to get moving.
Can you job-share a seat in parliament? These two women want to try
Lucy Bradlow and Bronwen Bock want voters to elect them together to represent the inner-Melbourne electorate of Higgins.
Limits of social media laws highlighted by Musk’s mockery
The billionaire X owner’s mocking of demands that footage of the Sydney church stabbing be taken down has highlighted how ineffective Australia’s laws are, experts said.
SPONSORED
World
US can send fresh weapons to Ukraine ‘within days’
The Pentagon had already moved stockpiles of the most-needed arms closer to Ukraine’s borders before the passage of a crucial foreign aid bill in the US House.
Relief in Ukraine as US House approves $95b in aid
The vote marks a victory for Republican defence hawks against the more isolationist wing of the party led by Donald Trump.
Israeli strikes on southern Rafah kill 13, mostly children
Israel has carried out near-daily air raids on Rafah, where more than half of Gaza’s population of 2.3 million has sought refuge from fighting elsewhere.
More than 14 Palestinians killed as violence flares in West Bank
Israeli forces began an extended raid in the Nur Shams area, near the flashpoint Palestinian city of Tulkarm and were still exchanging fire with armed fighters well into Saturday.
Israel’s strike on Iran shows it can evade Tehran’s air defences
The strike damaged a defensive battery near Natanz, a city in central Iran that is crucial to the country’s nuclear weapons program.
Property
Cautious buyers drag down Sydney auction clearance rate
Strong auction results are becoming rare in Sydney as more buyers are reluctant to stretch their limits, agents say.
Fred Hollows Foundation co-founder lists NT wilderness gem
John Cooper, who set up the charity with the eye surgeon in 1989, bought the former Mt Bundy Station south of Darwin for just $505,000.
- Exclusive
- Property development
Acuity Development has $300m plan for Yarra Valley aerodrome and farm
The developer, which sources both projects and investors, has grand plans for the Yarra Valley’s only sealed airstrip and neighbouring farm.
David Droga plans new home for Tamarama headland site
The owners and designer Luigi Rosselli aim to create a house on the landmark Sydney site that better reflects its location and the environment.
My strange journey into the doomsday bunkers of the super-rich
The first season of Amazon’s ‘Fallout’ has captured the reality of some of the places that I had actually visited in “meatspace”.
Wealth
- Opinion
- Investing
The curse of market concentration is spreading
Concentration risk has tended to be predominantly confined to the Australian market but as investors diversify overseas, they face a similar problem in the United States.
- Opinion
- SMSFs
New superannuation tax may hit venture capital
SMSFs will shy away from investing in start-ups for fear of being slugged with big tax bills on unrealised gains.
- Opinion
- Super Q&A
How do I calculate my tax-free super pension limit?
The transfer balance cap has increased twice since its inception to reach $1.9 million. Calculating how to stay within it can be tricky.
Technology
How Spotify beat the artist boycotts
Taylor Swift, Neil Young, Joni Mitchell and Thom Yorke have all pulled their music from the streaming giant. Eventually, all of them gave up.
OpenAI’s model all but matches doctors in assessing eye problems
Ophthalmology has been a big focus of efforts to put AI to clinical use and fix obstacles to take-up, such as the tendency of models to ‘hallucinate’ by creating fictitious data.
How Amazon wasted a decade trying to reinvent the supermarket
The online shopping behemoth simply failed to make the technology cheaper than a conventional store.
Work & Careers
Can you job-share a seat in parliament? These two women want to try
Lucy Bradlow and Bronwen Bock want voters to elect them together to represent the inner-Melbourne electorate of Higgins.
CFMEU let off the hook by watchdog for ‘most serious’ threats: judge
A Federal Circuit Court judgment raises questions about the Fair Work Ombudsman’s appetite to enforce workplace laws on construction sites since Labor took power.
Life & Luxury
Meet the doctors whose virtual ED is easing the load on hospitals
In outer Melbourne, a virtual emergency department has offered 250,000 patients treatment and created a model to help keep ageing Baby Boomers out of hospital.
Indigenous artist wins top prize at Venice Biennale
Indigenous artist Archie Moore has won the Venice Biennale’s Golden Lion, becoming the first Australian to take the top gong.
Priciest global cruise arrives in Sydney
Cruising is back in vogue, particularly on super-luxury options such as the Scenic Eclipse II, which boasts two helicopters and a submarine.
This former tennis champ is chasing unicorns and dancing pantless
Dylan Alcott has a dizzying list of achievements from 15 tennis Grand Slams to being Australian of the Year. Now, he’s chasing start-ups and performing with Jason Donovan.
Why this exec wants to ride with Elon Musk in WA
Cash Converters boss Sam Budiselik loves cycling, but only in his home state. He’s also a fan of the world’s third-richest man.
