Economists dispute Chalmers’ downbeat growth tone
Leading economists have dismissed Treasurer Jim Chalmers’ pessimistic assessment of the global economy, and say it should not be used to justify inflation-boosting spending.
- Updated
- Social media
Court grants injunction forcing X to take down terror video
The eSafety commissioner won an emergency injunction in the Federal Court late Monday to force Elon Musk’s X to remove videos globally of last week’s Sydney terrorist attack. But the order has limited application.
- Exclusive
- Gas
Big US pension funds, Aware want Richard Goyder off Woodside board
But AustralianSuper says it will back the businessman, even as it votes against the oil and gas giant’s climate plans, at a shareholder meeting on Wednesday.
Top fundies list reveals turnaround for ESG, mid-cap investors
Climate and sustainability strategies have been serial underperformers, but data for the first three months of the year indicates a big change.
China rebuff in PM’s Anzac Day PNG push
Stronger ties with Australia’s northern neighbour will help promote Pacific stability and freedom, the prime minister says.
Economists dispute Chalmers’ downbeat growth tone
Leading economists have dismissed Treasurer Jim Chalmers’ pessimistic assessment of the global economy, and say it should not be used to justify inflation-boosting spending.
Chevron vows to develop new WA gas fields
The federal government is considering wielding its “use it or lose it” powers on undeveloped fields held by major energy companies.
Breaking news on companies, politics and economics, in your inbox as it happens.
tuesday tech
Social media giants ‘no longer fear reputation risks’
Tech policy advocates say the era of tech companies complying with local regulations to protect their reputation is over.
- Analysis
- Tech Observed
How much has Canva made Blackbird’s partners? Hundreds of millions
Publicly disclosed share sales and industry estimates suggest the fund’s partners are deep in yacht money, and they deserve to be.
- Analysis
- Cyber warfare
Did one guy just stop a huge cyberattack?
A 38-year-old software engineer at Microsoft inadvertently found a backdoor hidden in a piece of software that was a possible prelude to a major cyberattack.
- Analysis
- Elon Musk
Two things could bring Elon Musk to heel on free speech
The billionaire has bowed to two things overseas: threats of jail for employees and wholesale throttling or blocking of X itself.
- Exclusive
- Start-ups
Kyrgios, Smith-backed fantasy football start-up valued at $0
The company has laid off staff and had a co-founder depart, but is hoping to grow with more humans in its AI-driven fantasy football product.
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Companies
This airline has a rewards seat to Europe every day in July
Qantas has a frequent flyer program competitor nagging at its heels, with Aussies signing up to Virgin Australia’s Velocity in droves.
Green fuels are not the future – they’re just about here
Porsche-backed HIF Global wants to build a plant in Tasmania. Others are eyeing Townsville. But they need the government to push customers their way.
Deutsche, Gemi battle to keep Jon Adgemis’ other lenders onside
Angas Securities said it had turned down two proposals from the bank, which is negotiating a $500 million refinance, and is trying to get its money back.
Star’s risk chief says fraud could happen again if culture not fixed
Scott Saunders, chief risk officer of Star Entertainment, said he’s never worked in an organisation that was under as much pressure.
Chevron vows to develop new WA gas fields
The federal government is considering wielding its “use it or lose it” powers on undeveloped fields held by major energy companies.
- Exclusive
- Gas
Big funds want Goyder off Woodside board
But AustralianSuper says it will back the businessman, even as it votes against the oil and gas giant’s climate plans, at a shareholder meeting on Wednesday.
- Analysis
- Tech Observed
How much has Canva made Blackbird’s partners? Hundreds of millions
Publicly disclosed share sales and industry estimates suggest the fund’s partners are deep in yacht money, and they deserve to be.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
‘Nothing has been spared’ as US dollar rips through Asia
The surprising strength of the US dollar this year has caused strategists to reduce their Aussie dollar forecasts, adding to the risk of sticky inflation.
‘Can’t rule out a further rate hike’: economists
Economists point to signs the economy is picking up, fuelling speculation that the Reserve Bank of Australia could lift the cash rate one more time.
VanEck expects ASX to hit 8300 by the end of 2024
The investment giant is betting on a comeback in real estate and retail stocks amid a more stable interest rate environment to help push the S&P/ASX 200 Index to eye-popping territory.
Health care and bank stocks buoy ASX; Star extends decline
Shares end higher after Israel-Iran tensions fail to escalate; Cettire slumps after news that hedge fund LHC exited its position; Star shares continue to fall. Follow here for more.
Top fundies list reveals turnaround for ESG, mid-cap investors
Climate and sustainability strategies have been serial underperformers, but data for the first three months of the year indicates a big change.
Opinion
Chalmers confronts Australia’s budget dilemma
Despite the global tensions and the national gamble on the “Future Made in Australia”, the treasurer is about to hand down another surplus next month, writes.
Columnist
US aid should arrive just in time to avert Ukraine’s defeat
Even more concerning than the growing size of the invading Russian forces is their increased competence.
Contributor
Chalmers’ puzzling budget strategy for year ahead
Ideally, the 2024 budget should be slightly contractionary or, at most, neutral to help the Reserve Bank deliver the difficult last mile of disinflation.
Editorial
Goyder’s fight at Woodside highlights question of shareholder voice
Activist battles largely take place between big asset managers and their proxy advisers. Is it time their retail investors got more of a say in what they do?
Corporate lawyer
Let’s not waste the green energy opportunity
The government’s industry policy is not some throwback to the Deakinite settlement. It’s quite the opposite.
Minister for Climate Change and Energy
History shows Australia needs a strong Productivity Commission
The Financial Review helped forge the political and intellectual opposition to the nation’s 20th-century industry protectionism, which was once a bipartisan article of Australian faith, akin to the fair go.
Editorial
Politics
China rebuff in PM’s Anzac Day PNG push
Stronger ties with Australia’s northern neighbour will help promote Pacific stability and freedom, the prime minister says.
Woolworths says forced store sales won’t lower prices
The nation’s largest grocery chain says the bill put forward by the Greens as a tool against the misuse of market power could even result in higher prices.
Labor will tax super savers twice under proposed ‘wealth tax’: Taylor
Double taxation was “a natural consequence” of Labor’s plan to tax unrealised gains under its proposed tax increase on super balances over $3 million, the shadow treasurer said.
Crossbenchers challenge Labor to limit negative gearing
Jacqui Lambie and David Pocock will push for curb tax concessions for investment properties, in a plan that could raise as much as $6 billion for new supply.
Why 3pc wage rises may become the new norm
New research from NAB forecasts productivity growth will remain at its lowest rate in more than 70 years, leading living standards to stagnate.
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World
Israel scaled back planned attack on Iran to avoid war
Israeli leaders originally discussed bombarding several military targets across Iran last week, including near the capital Tehran, in retaliation for the Iranian strike on April 13.
Chinese general uses naval gathering to restate hard line on Taiwan
‘We do not provoke trouble, but we will never flinch in face of provocation,’ said the vice chairman of the Communist Party’s Central Military Commission.
- Analysis
- Donald Trump
The Aussies behind Trump’s ‘catch and kill’ trial
Journalist Lachlan Cartwright thinks he is at the top of any list to be “sent to the gulag” if Donald Trump returns to the Oval Office in November, writes Matthew Cranston.
Netanyahu furious over US sanctions on army battalion
The US is reportedly planning to blacklist an Israeli military unit for alleged human rights abuses against Palestinians in the occupied West Bank.
Larry Fink, other top CEOs increase personal security
BlackRock has tripled its security spend for Larry Fink after a backlash over the company’s ESG investing stance – and it’s just one of many companies to do so.
Property
Woollahra’s Light Brigade Hotel for sale at $20m
The imposing pub at the top of Oxford Street is on the market for the first time in almost a decade, and following an extensive renovation.
- Exclusive
- Hotels
Mantra border hotel set to deliver a 15pc yield to wealthy investors
Investors in the fund that bought the Albury CBD hotel include Gabriel Jakob’s family office Hyper Capital and Malcolm Beville’s Willow FM.
Data centre giant AirTrunk strikes major Hong Kong renewables deal
The surge in energy demand by data centres, now turbo-charged by the emergence of AI, is straining the capacity of electricity grids around the world.
Buyer plays up strata cost fears before $2.47m apartment purchase
A local purchaser of a Gold Coast unit used the threat of an extra $25,000 special levy hanging over the property to try to put his rivals off.
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.
Wealth
The homeschooled billionaire who built a fortune before turning 40
Shaun Bonett was the country’s richest person under 40 in 2007. Now a billionaire, he shares his story, including a humiliating $25 million mistake.
Savers with $3m-plus super could pay double tax on earnings
Labor’s plan to increase the tax paid on earnings for super accounts with more than $3 million could sting savers twice, experts have suggested.
- Opinion
- Investing
Five ways to play the long-term AI theme on the ASX
There’s probably no Australian-listed company that’s not using AI in some way to become more efficient and improve margins. But who might the bigger beneficiaries be?
Technology
Social media giants ‘no longer fear reputation risks’
Tech policy advocates say the era of tech companies complying with local regulations to protect their reputation is over.
Got a small audience? This start-up could help you monetise it
Kindling is figuring out what AI tools can help podcasters and YouTubers “supercharge” their content, and find someone willing to pay for it.
- Exclusive
- Start-ups
Kyrgios, Smith-backed fantasy football start-up valued at $0
The company has laid off staff and had a co-founder depart, but is hoping to grow with more humans in its AI-driven fantasy football product.
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
Do ‘functional’ drinks really work? Here’s what the science says
Drinks promoted as offering mental or physical benefits beyond hydration are growing in popularity worldwide. Should they be?
What women want: more colour, bigger watches
Over 20 years, Helen Gregory has seen a lot of change in the watch industry. One of the biggest has been the arrival of women as collectors.
This exec chills out by listening to white noise below the waves
Data management software is all-consuming for Biza.io boss Stuart Low. He achieves inner peace when scuba diving with a multitude of marine life.
- Driving With Tony Davis
- Motoring
‘Love’ makes the difference to the new $410k Aston Martin Vantage
A string of smallish but important changes have transformed the coupe’s character, says design director Miles Nurnberger. Oh, and it’s faster, of course.
Being a mother really does age you, new study finds
Research by Columbia University in New York has shown that pregnancy takes such a toll on the body that it causes a woman to get older faster, internally.
