- Breaking
- Aviation
Bonza in voluntary administration after flight chaos
Passengers have been left stranded across the country as the discount airline weighs “the ongoing viability of the business”.
Investors trim rate rise bets as retail sales growth hits two-and-a-half year low
Annual growth in retail sales has fallen to its lowest level since the pandemic as cash-strapped households tighten their belts.
- Opinion
- Chanticleer
How Chemist Warehouse can get its deal past the ACCC
Divestments may be needed to get the Chemist Warehouse/Sigma deal over the line, but they don’t look too strenuous.
- Live
- Markets Live
ASX closes up; worst day for Worley since 2021
Shares firm; retail sales disappoint; $A slips; Sidara sale sinks Worley; BHP confirms $38b settlement; Origin gas revenue falls; Coles sales up. Follow updates here.
Rein in states’ spending to help RBA, Chalmers told
Governments are on track to loosen their budgets by $50 billion in the middle of an inflation crisis and rising interest rates.
- Opinion
- Chanticleer
Coles has a bit of a booze problem
While Coles’ supermarket sales are holding up well, a shock drop in its liquor division tells a story about the growing pain of interest rates.
KPMG increases working capital borrowings by almost $300m
KPMG increased its borrowings by almost $300 million over the past two financial years but booked revenue growth of more than $500 million.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
tuesday tech
Labor’s bold $1b bet on Aussie quantum start-up
Australia will invest $940 million in Silicon Valley start-up PsiQuantum in a major bet that it will build the world’s first commercially useful quantum computer.
- Exclusive
- Start-ups
Aussie tech pushes into China, Taiwan despite geopolitical risks
Canva co-founder Cliff Obrecht has warned start-ups China should not be their first market but says it has massive rewards for companies that can make it there.
- Opinion
- Quantum Computing
A bold quantum leap to cross the ‘valley of death’
Historically, Australia sprints out ahead of the global pack during the research phase, but fails to commercialise innovations. That’s why the utility-scale quantum computer announcement represents such refreshing bet, writes Amit Singh.
- Exclusive
- Electric vehicles
Controversial SPAC listing hobbled Tritium
The charging company’s leaders were preparing for a potential collapse before Christmas as it failed to get state government cash.
- Exclusive
- Venture capital
VCs are banking on Canva staff cash, but they’re buying houses instead
While most staff say they plan to put the money towards real estate, an investing program just for Canva staff already has the interest of more than 100 people.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Coles wants suppliers’ help in cutting prices as shoppers seek deals
The supermarket chain’s sales rose 5.1 per cent in the third quarter but liquor sales fell as consumers cut spending by looking for cheaper alcohol options.
IGO says criticism unfair after talk of ‘incredibly opportunistic’ deal
West Australian lithium and nickel miner stands by its ties with Chinese partner Tianqi after the latter ordered a huge shipment this week at a “favourable” price.
Bapcor CEO-elect quits two days before taking job
Paul Dumbrell has pulled out of taking the top job as investors brace for a profit downgrade and one of the founders lashes out at the board.
BHP’s rivals for Anglo American set to emerge
The UK-listed miner has rejected an approach from BHP, but other major miners including Rio Tinto could announce a competing bid.
Firstmac hackers claim tax file numbers
The Brisbane-based lender has warned customers that tax file numbers and dates of birth have been stolen.
Scyne finalises appointments, KPMG partner heads to Star
PwC spin-off Scyne Advisory has appointed a permanent managing partner and will finalise its CEO in the second half of this year.
ASIC sues Magnis Energy over ‘parlous’ battery factory
The regulator is suing Magnis Energy and chairman Frank Poullas in Federal Court for misleading investors over the “parlous state” of its battery factory.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
CBA tips one rate cut this year as retail sales ease fears of a rise
Last week’s hot inflation data reignited the prospect of further rate increases, but Tuesday’s weak retail sales numbers have traders walking back those expectations.
Why now is the time for Aussies to book a flight to Tokyo
The Australian dollar hit a near-decade high against its Japanese counterpart. But history shows such gains could quickly reverse.
RBA’s next move will still be a rate cut, say investors
Market pundits argue that interest rates are still going down, not up, because inflation is declining, albeit at a slower pace than many had expected.
What happened overnight? Wall Street picked up with Fed in focus
Australian shares were set to open flat after US stocks rose as traders looked ahead to the US Federal Reserve’s rates decision meeting this week.
Stocks trade for 390 minutes a day. But only the final 10 might matter
Assets in passive equity funds have surged to more than $US11.5 trillion in the US alone - pushing more of trading to the closing minutes of the equities session.
Opinion
Labor green lights toxic bully-boys of the CFMEU
The political protection racket the modern ALP is running for the toxic behaviour of the CFMEU, which would be condemned in any other setting, is disgraceful.
Editorial
Why Australia can’t build enough new homes
The nation’s housing ambitions are way off target. That means the price of new homes and rentals will continue to climb, compounded by still high immigration numbers.
Columnist
Are we about to witness a rerun of the Asian financial crisis?
Investors are becoming increasingly alarmed as the buoyant US economy and high US interest rates risk triggering renewed instability throughout the Asian region, writes Karen Maley.
Columnist
Magic debt thinking collides with inflation and higher rates
Since the GFC, economists have suggested that using debt to finance government spending is a free lunch. But the tide has turned in the past two years.
Columnist
Battered from all sides, China needs new solutions
Mindful of the inspiration deficit that ultimately brought the East Asian growth miracle crashing down, Chinese policymakers must seize the moment.
Asia watcher
Israel has a fateful choice to make: Rafah or Riyadh?
If Israel ends up with an indefinite occupation of both Gaza and the West Bank, it would be a toxic military, economic and moral overstretch that would delight Iran.
Contributor
Politics
Kean questions need for Eraring bailout
It will be the “NSW government”, not the renewables sector, that faces the music if sluggish wind, solar and transmission rollout leads to blackouts.
White-collar crime goes unpoliced due to lack of funds: ASIC boss
“We would welcome additional funding and … there are matters we would like to run now we don’t,” ASIC chairman Joe Longo told a Senate committee.
Albanese tries to shift blame on alleged attack by freed detainee
Labor is under fresh pressure over its management of immigration detainees set free by the High Court after the alleged bashing of a Perth grandmother.
ATO told scam victim he owed $46k tax refund sent to fraudster
The victim of the scam was told he had to repay the money paid out to someone who had stolen his identity online.
Government baulks at hard caps on foreign student numbers
The Albanese government is shying away from a Canadian-style hard cap on foreign student numbers and will opt for more nuanced measures to control migration.
SPONSORED
World
China’s factory activity slows, denting recovery
China’s factory activity expanded for a second consecutive month in April, but at a slower pace, suggesting its vast manufacturing sector might have lost steam.
Private equity vs billionaires: Fight for Ten owner claims first scalp
Bob Bakish has stepped down as CEO of Paramount Global, the owner of Network Ten. With an ownership battle raging abroad, its Australian managers must watch on.
Columbia suspends pro-Palestinian protesters after talks stall
The university said days of negotiations between student organisers and academic leaders had failed to persuade demonstrators to remove the protest camp.
‘Maybe this time it will work’: Israel softens stance on Gaza deal
Benjamin Netanyahu’s government has accepted the latest proposal from mediators that increases the chance of a deal with Hamas.
Solomon Islands PM steps down after elections
Prime Minister Manasseh Sogavare formed close ties with China during his terms in power and said he had been vilified for it.
Property
Lendlease needs ‘wholesale change’ now: Allan Gray boss
Allan Gray boss Simon Mawhinney says change that would restore shareholder confidence in the property developer should come immediately.
Stockland says interest rates key to further market improvement
The country’s largest listed diversified developer said sales picked up in the March quarter, but lower borrowing costs were needed for the housing market to pick up.
WeWork cuts new restructuring deal that spurns Adam Neumann
If approved, a restructuring deal will allow the fallen co-working giant exit bankruptcy with less debt and a leaner, less expensive lease portfolio.
Property investors spooked by renewed talk of rates rise
Having recently returned to the housing market in droves – outpacing owner-occupiers – investors could face a potential slowdown in capital gains.
- Exclusive
- Industrial
Batteries to power up warehouse pipeline as big as 40 MCGs
Dexus’ program to install batteries in all its new warehouses will cut its tenants’ energy bills by almost $100,000 a year and reduce their carbon emissions.
Wealth
I lost $2.5m of my super to scammers
Five victims outline how their funds were taken by sophisticated impersonation fraudsters and why they feel abandoned by their banks.
Why it’s worth selling your investment property before you retire
Making the most of higher superannuation caps can boost your retirement coffers just when you need it the most.
Why more Australians are choosing semi-retirement
Fusing the parts of work you still enjoy with hobbies, travel and passion projects is the dream for many. Here’s how to make a go of it
Technology
- Opinion
- Digital Life
You’ll forget you’re even wearing these earbuds
The OpenFit earbuds by Shokz might not look the best, but they certainly feel the best of any earbuds we’ve ever reviewed.
Snapchat going backwards in Australia
Elon Musk’s takeover crushed Twitter, but Snap is still a fraction of the size of the dominant Meta-Google online advertising machine.
The Meta-morphosis of Mark Zuckerberg
The robotic nerd depicted in The Social Network has turned into the kinder, more accessible face of Silicon Valley. What’s going on?
Work & Careers
- Opinion
- Workplace
Singapore’s burnout rate shows the price of success
Singaporeans enjoy some of the highest living standards in Asia. But all of this has come at a price. It is also one of the most stressed-out societies.
Pro-Palestinian protesters are peaceful here, say university bosses
A series of encampments are popping up on campuses as students take up the pro-Palestinian cause. But it’s very different from what’s happening in the US.
Life & Luxury
2024’s best protein supplements help with exercise and ageing
They’re not just for gym junkies – emerging research suggests they may hold benefits for mid-lifers and older adults, as your requirements increase with age.
Spotify’s CEO launches body scans to prolong life
The company that billionaire Daniel Ek founded, Neko Health, opened in Stockholm last year, and it is about to open in London.
The best Mother’s Day gadget gifts – ranked by price
How much do I love you? Let me count the dollars. This year’s guide doubles as a handy reckoner, revealing how you feel about the matriarch in your life.
- Opinion
- Trump's America
Why Donald Trump is a style icon
With his dowdy, oversized navy suits and MAGA red caps, the former president’s personal brand is a crucial part of his accessible appeal.
Why women stop telling lies when they get older
Cosmetic surgery, diet drugs, bad parenting… Some things are better left unsaid – until it’s too late to matter any more.
