- Opinion
- Chanticleer
The funds management shakeout is on - is it about to get worse?
First Sentier’s David Allen gave up the game when announcing what was probably the biggest ever strategy closure in Australian funds management earlier this week.
- Updated
- Mining
BHP lobs takeover bid for $56b Anglo American
The mining giant has been evaluating the possibility of a bid for the London-listed group, where shares have fallen 12 per cent over the past year.
- Opinion
- Window Shopping
Woolies and Coles dealt some hard lessons on social licence
Building social licence is a significant opportunity for retailers but as the travails of the two big supermarket chains show, it can be easily damaged, writes Sue Mitchell.
Pro-China Solomon Islands PM fails to win majority
Manasseh Sogavare has failed to win a majority in parliamentary elections, setting the stage for coalition negotiations.
Melbourne Rebels may have traded insolvent: PwC
The rugby union club’s administrator, PwC, recommends it be rescued rather than liquidated to ensure creditors and staff receive the most money possible.
- Opinion
- Electric vehicles
How China plans to win the global EV war
The US and European governments are increasingly alarmed at the potential for China’s EV ambitions to put their own car manufacturers at risk, writes Jennifer Hewett.
Israel moves to evacuate Rafah, builds tent city
The southern city crammed with more than 1 million displaced Gazans is also the stronghold for Hamas’ remaining forces.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
Big reads
- Investigation
- Food & drink
Jon Adgemis’ high-wire act is coming unstuck
The former KPMG dealmaker burst onto the hospitality sector after buying up a string of venues. Huge debts and angry lenders are threatening to push it over.
Can the NRL’s worst team finally turn itself around?
To say the Wests Tigers have underperformed over the past two decades would be an understatement. Shane Richardson has a plan to change the team’s fortunes.
Can Pollination really become the next ‘green’ Macquarie?
The fledgling investment bank has lofty ambitions and a high-profile roster of executives. But it also has plenty of competition for climate dollars.
- Investigation
- Gaming & wagering
Laurence Escalante is living large off controversial gambling billions
At 42, he is one of the country’s youngest billionaires. But Virtual Gaming Worlds investors hoping for a big payday are increasingly concerned it may not come.
Golf ranges are booming on weekdays. Welcome to the WFH economy
Most office workers now spend some of their week working from home. Remote working is changing the way we live and do business.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
DP World profit tumbles 34pc after wharfie strikes
The stevedores giant’s annual profits have slid following the dispute over new wage agreements and after container volumes fell, the company’s accounts show.
- Opinion
- Climate policy
Voting down Woodside’s climate plan a shareholder activism milestone
This week’s insurrection against an out-of-touch board says the clock is ticking for other directors who meld denialism and dereliction of fiduciary duty, Tim Buckley and Annemarie Jonson.
- Updated
- Gaming & wagering
Former Star CEO says he felt ‘under assault’ from casino regulator
Robbie Cooke left last month after NSW officials made it clear they did not think he was moving fast enough to fix governance and cultural issues at the group.
Woodside climate plan sunk but Goyder survives
The proxy battle pitched Australia’s largest gas producer against activists that argue its path could tip the balance towards more dangerous climate change.
Inquiry puts blame on regulator, RBA for ASX failure
ASIC and the Reserve Bank should conduct more thorough audits to avoid a repeat of the bungled CHESS replacement project.
Nick Scali mounts UK push, realising long-held dream
The Australian furniture retailer flagged an equity raising to fund deal and further invest in its new British business.
Lynas boss leaves door ajar for rare earths mega-merger
Lynas boss Amanda Lacaze says there may be a time when big rare earths makes sense and confirms she is a great admirer of Gina Rinehart and her commitment to mining.
Companies in the News
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Markets
- Updated
- Social media
Meta’s plans to spend billions on AI unsettle investors
Shareholders are preparing to wipe around $US200 billion ($308 billion) of the social media giant’s value, despite better than expected earnings this year.
Investors pile into miners as commodity rally heats up
Surging copper, gold and oil prices are fuelling a rotation into mining stocks as analysts scramble to adjust their profit forecasts for the sector.
Reluctant traders protect themselves from market mayhem
The mounting uncertainty in markets have traders buying put options that pay off if stocks keep tumbling.
Meta’s $554b rally to coincide with AI expectations
The Facebook parent has been the best-performer in the sector this year by far amid a surge in profitability. But there’s a catch.
Traders speculate RBA’s next move could be up
The Australian dollar jumped and bonds sold off after inflation beat forecasts, prompting traders to abandon almost every basis point of easing in this year’s cash rate profile.
Opinion
‘Decolonising’ Anzac Day’s revival
The day offers a welcome counterpoint in an age of fragmenting identity politics in which it is becoming more difficult to find agreement about Australia’s national identity.
Editorial
Are the magnificent seven at risk of having their wings clipped?
Perhaps investors are finally losing patience with the hundreds of billions of dollars being ploughed into artificial intelligence as the world’s leading tech companies vie for supremacy.
Columnist
How China plans to win the global EV war
The US and European governments are increasingly alarmed at the potential for China’s EV ambitions to put their own car manufacturers at risk.
Columnist
Negative gearing is not a rort or a tax concession
Negative gearing is said to single-handedly be responsible for Australia’s housing crisis. But it is a principled, fair and efficient feature of any tax system.
Economist
Pezzullo takes first step to redemption
The former Home Affairs secretary admitted his mistakes and accepted his disgrace, and knows he will not be working with the Commonwealth for some time.
Government editor
What it means to be (visibly) Jewish in the Ivy League
Behaviour that would be scandalous if aimed at other minorities is treated as understandable or even commendable when directed at Jews.
Contributor
Politics
Five boys charged following Sydney terrorist attack
Five children have been charged in connection with the stabbing of an Orthodox Christian bishop at a western Sydney church.
PM pays tribute to ‘great artery of suffering’ on the Kokoda Track
After two days climbing through Papua New Guinea’s mountains, Anthony Albanese and James Marape marked the dawn service at the Isurava battlefield memorial.
Budget reality check for Chalmers after high home-grown inflation
“Unrelenting” domestic price pressures boosted consumer inflation in the first three months of 2024, while Treasurer Jim Chalmers would not be drawn on whether the May budget would add to demand.
Musk courts top Sydney silk for eSafety fight
Elon Musk’s X is preparing for courtroom battle with the government over its take down order related to the Sydney church stabbing while NSW police make further arrests related to the attack.
- Exclusive
- Social media
TikTok Australia makes its first stand after US ban laws pass
The US congress passed a bill on Wednesday requiring TikTok to be sold within a year or be banned in the country.
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World
Hostage begs for release from ‘hell’ in new Hamas video
The Israeli-American man seized by Hamas militants in the October 7 attack also says some 70 hostages have now been killed in Israel’s bombing campaign.
US secretly shipped new long-range missiles to Ukraine
Ukraine for the first time has used a longer-range version of weapons known as ATACMS, striking an airfield in Crimea and Russian troops in southeastern Ukraine.
Pro-China Solomon Islands PM fails to win majority
Manasseh Sogavare has failed to win a majority in parliamentary elections, setting the stage for coalition negotiations.
McKinsey faces US criminal probe over opioids work: sources
McKinsey & Co is under criminal investigation in the United States over allegations it played a key role in fuelling the opioid epidemic.
FTC sued a day after banning non-compete agreements for workers
The US Chamber of Commerce lawsuit alleges the Federal Trade Commission lacks the power to adopt sweeping rules such as the ban on so-called non-compete agreements.
Property
Shadow of Bob Day clouds building sector as Collier Homes fails again
The former Family First senator’s WA building company, acquired out of liquidation in 2016, has once again gone under.
What the new land value boss thinks will happen to property prices
Sally Dale’s appointment comes at a critical juncture for both the residential and commercial markets in Australia’s most populous state.
Median house prices in Brisbane and Adelaide to hit $1m by December
House price growth momentum has slowed across the capital cities, but is still expected to hit new records this year according to Domain.
The Barbie effect: Mattel expands into mega shed
DHL has relocated its Mattel warehouse to a site 20 per cent bigger as the toy maker looks to cater for rising demand for its products after the hit movie.
The Melbourne shopping hotspot that became a ‘ghost town’
Businesses on Bridge Road in Richmond, which has a whopping 15.5 per cent vacancy rate, fear an insolvency snowball effect.
Wealth
A child won a share of her dad’s estate – despite planning to kill him
A 75 per cent success rate in contesting wills is encouraging more family members to sue for a bigger share. Here’s how to protect your final wishes.
- Opinion
- SMSFs
The rule book on investing in cars, wine or diamonds
Because they’re classified as collectable or personal use assets, strict rules apply to their acquisition, storage, insurance and use if held by an SMSF.
- Analysis
- Gen Z
Stop complaining, Zoomers – you’re rich
People born between 1997 and 2012 should appreciate that Millennials and Baby Boomers were poorer at this stage in their lives.
Technology
- Exclusive
- Social media
TikTok Australia makes its first stand after US ban laws pass
The US congress passed a bill on Wednesday requiring TikTok to be sold within a year or be banned in the country.
‘Safe room for terrorists’: ASIO warns big tech on encryption
Federal spy and crime chiefs will demand access to social messaging systems that allow terrorists, violent extremists and child abusers to operate with impunity.
Scammers are taking over the world
A seedy layer beneath our regular lives is cluttered with bogus messages, spam callers and phishing attempts.
Work & Careers
Highest-paid CFOs revealed
The country’s top CFOs continue to enjoy a “breakout period” on pay and remain in the box seat as the country’s next CEOs.
FTC sued a day after banning non-compete agreements for workers
The US Chamber of Commerce lawsuit alleges the Federal Trade Commission lacks the power to adopt sweeping rules such as the ban on so-called non-compete agreements.
Life & Luxury
These are seven top candidates for the next ‘it’ watch
Collaborations with haute couture designers, a few tricks and a touch of green are all it takes to make the list.
This might be the most explosive tennis movie ever made
Challengers packs a punch with breathless action while Ryusuke Hamaguchi’s Evil Does Not Exist builds slowly and silently.
Retirement made me feel invisible – so I became a male model
A newfound career after my work life ended has given me purpose and made me feel good about myself. It’s nothing like I would have imagined.
For the full zen, stay at an ancient temple in Japan
Our writer bypasses the hotels and ryokans to spend a night as a guest of Buddhist monks. He didn’t anticipate the wooden stick, though.
The rich love anti-ageing stem cell therapy, but does it really work?
The procedure is becoming a favourite for Hollywood A-listers and actors such as John Cleese. It is still under-researched, however – and could be dangerous.
