If your business is turning inspiration into innovation, it’s time to be recognised.
OECD warns sticky inflation means rates higher for longer
The warning came as CEOs deliver upbeat assessment of the economy and financial markets push out expectations for rate cuts to May or June 2025, potentially after the next federal election.
ASX to lift; Traders now turn to key US jobs data
Australian shares are poised to rise as tech stocks drove higher ahead of Apple’s earnings. Traders are also gearing up for the US jobs report tonight.
Rich Listers sell their tech firm Envato for $375m
It was once valued over $1bn, but Rich Listers Cyan and Collis Ta’eed have sold Envato to New York-listed Shutterstock for $US245 million ($375.5 million) cash.
- Opinion
- Chanticleer
New NAB boss Andrew Irvine on trust, banker pay and client weddings
Andrew Irvine has inherited a solid strategy, but five weeks into the job he’s not afraid to weigh in on tough issues such as banker bonuses and regulatory creep.
- Opinion
- Mining
BHP is betting self-interest trumps politics on Anglo American
Convincing South Africa’s government its $60 billion takeover bid for the mining multinational is politically palatable is part of BHP’s challenge in a particularly complex deal.
It’s not what you do but who you are: gender pay gap myths busted
The gender pay gap is not explained by women’s career choices, or that they work part-time. They just get paid less than men, a new study has found.
Blackstone taps vast source of cash in $1.5trn credit push
Blackstone has been eagerly driving the expansion of the booming multi-trillion dollar private-debt markets. And it’s paying off.
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Companies
Wesfarmers flaunts its growth record, hopeful of lithium fortune
From hardware giant Bunnings and retailer Kmart, to the emerging lithium business and health unit, Mr Scott says Wesfarmers is well-placed amid a slower economic environment.
Tax Office investigating Lachlan Murdoch’s Nova radio assets
The parent of SmoothFM revealed it is under an ATO microscope, hauling in PwC for tax compliance services.
‘Consumers pulling back’: Bapcor in $500m wipeout
Shares in Bapcor, which runs 1100 stores under the Autobarn, Autopro and Burson banners, tumbled as much as 35 per cent after a hefty profit downgrade.
- Updated
- Earnings season
NAB clings to business banking prize as mortgage brokers bite
National Australia Bank’s first-half profit tumble underlined the toll intense mortgage competition is still claiming on margins.
Woolworths faces widening gulf with Coles in sales stakes
Brad Banducci, the departing chief executive of supermarket giant Woolworths, is losing the battle with arch-rival Coles as he prepares to bow out in September.
Rio Tinto chairman quiet on Anglo bid, eyes copper profits
Dominic Barton would not comment on whether the company was considering making a rival bid for Anglo American.
Bonza’s sister airline cuts 777 Partners, restructures debt
Flair Airlines finds new backers as Bonza edges closer to the brink.
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Markets
Markets cheer after Fed chief rules out rate increases
Traders have ramped up US rate cut bets this year after the Federal Reserve kept interest rates on hold, but the prospect of higher rates in Australia this year is still on the cards.
Blackstone taps vast source of cash in $1.5trn credit push
Blackstone has been eagerly driving the expansion of the booming multi-trillion dollar private-debt markets. And it’s paying off.
Markets push interest rate cuts beyond the next election
Investors think the first rate cut may not be until May 2025 or June 2025, complicating Labor’s re-election bid amid red-hot voter concern over cost of living.
NAB result boosts banks; Woolworths, Bapcor, Block sink
Shares rise. Sequoia Financial rebels demand CEO exit. NAB declares flat dividend. Woolworths says food prices largely flat, shares sink. Bapcor crashes. Fed says rate rise unlikely.
This fundie says Visa’s shares are a ‘jaw-dropping’ buy
Aoris Investment Management’s Alfred Tadros says investors have missed a trick on the US payments giant and explains why Microsoft is the only magnificent seven stock to own.
Opinion
Bonza’s grounding strands airline competition too
Had the government dealt with some of the highly public problems of aviation with more alacrity than it has, the failure of one small player would not have seemed such a blow.
Editorial
BHP is betting self-interest trumps politics on Anglo American
Convincing South Africa’s government its $60 billion takeover bid for the mining multinational is politically palatable is part of BHP’s challenge in a particularly complex deal.
Columnist
Chalmers’ ‘new growth model’ lacking on the supply side
Jim Chalmers is right to say that Australia cannot draw an “artificial distinction between our prosperity and our security”. It has been a theme of The Australian Financial Review’s since our 2022 Business Summit.
Editorial
Labor election plans start blowing smoke
Labor is banking on at least one rate cut before calling an election. That scenario is no longer guaranteed.
Political editor
The US presidential election is casting a long shadow over the Fed
Lingering inflation has caused hopes for US interest rate cuts to wither. That means the Federal Reserve risks becoming dragged into a divisive election.
Columnist
No safe spaces for Jewish students at universities
Vice chancellors say what’s happening on campuses here is a million miles away from what’s happening in the US. That’s a statement of wishful thinking – not reality.
Columnist
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
PM, Chalmers mull go-it-alone power price discounts
The Albanese government is considering a second round of power bill discounts, on top of $1000-per-household credits promised by the Queensland government.
- Exclusive
- Defence
Hanwha could face long wait for answer on Austal bid
The Albanese government is likely to prioritise picking a new frigate design over considering a foreign takeover bid for the Perth shipbuilder.
Blow to China’s bid to join trade pact
New Productivity Commission modelling has found there would be little economic benefit to Australia if China was admitted to the trans-Pacific free trade deal.
Housing focus as Pallas warns of horror Victorian budget
Economists warn that Victoria has no choice but to cut spending in next week’s budget, after slugging businesses and property investors last year.
Dutton calls on unis to shut down pro-Palestinian protests
Peter Dutton says vice chancellors are tolerating racist protests on their campuses and should shut the activists down.
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World
Philippines summons Beijing envoy in South China Sea flare-up
The Philippines has accused China of elevating tensions in the South China Sea after its coast guard used water cannon and damaged two vessels.
Peloton crashes to record low as CEO quits amid layoffs
The interactive exercise bike company was a pandemic superstar but is now struggling heavily and laying off 15 per cent of the workforce.
New Solomons PM still close to China, but more diplomatic
Despite being foreign minister for almost five years, Jeremiah Manele is unlikely to strictly follow the pro-China policy of his predecessor, according to some.
OECD upgrades global growth outlook as US outperforms
A faster-than-expected fall in inflation has set the stage for central banks to begin rate cuts in the second half of the year, boosting consumers’ incomes, according to the OECD.
- Analysis
- Managed funds
Berkshire after Buffett: Can his deputies step up?
Ted Weschler and Todd Combs stand to take over a $546 billion portfolio from the world’s best-known investor.
Property
$10 billion housing fund should be doubled, community providers say
The massive response to the federal government’s first tender to develop affordable and social rental housing shows more funding is needed, developers say.
Ransomware group claims attack on valuer HTW
In a post on the dark web, Black Suit says it has obtained 20 gigabytes of the valuation firm’s customer and transaction data.
A housing boom is coming – for the wealthy
Investors, downsizers and upgraders will drive the next wave of residential development. First home buyers will hardly get a look in.
Singapore’s offices await a new wave of tenants
An eight-year cycle in which the tech industry provided demand for working space is coming to an end. Landlords don’t know who their next tenants will be.
How this CFO landed on the perfect property to help her adult children
Kristen Kubank bought a townhouse to help her adult-aged children who have struggled to enter the property market despite having stable jobs.
Wealth
The pros and cons of buying property interstate
Investors from Sydney and Melbourne are increasingly looking further afield in the hunt for value. But how do you go about buying in an unfamiliar property market?
What every buyer needs to know about auction clearance rates
Auction clearance rates give some clues about when to buy or sell.
- Opinion
- Flat Chat
There’s more trouble coming for apartment owners. Here’s why
The Netstrata insurance scandal rocked the strata management industry in NSW but that’s just the beginning as an independent inquiry starts to dig deeper.
Technology
Don’t swat fruit flies – they’re smarter than you probably think
Researchers say many species, from insects to invertebrates, have consciousness. It turns out humans aren’t so special, after all.
Amazon posts strong cloud unit sales on rising AI demand
The e-commerce company’s operating income more than tripled as Amazon Web Services and adverts provided a boost.
‘Country mile ahead’: How PsiQuantum won a $1b investment
Chief scientist Cathy Foley said US-based PsiQuantum showed it was a “country mile” ahead of other Aussie companies in trying to build a world-first quantum computer.
Work & Careers
Legal grad pay tops $110k, but wage gap still stubborn
The gender pay gap in the legal industry remains “stubbornly and consistently high”, a survey has found.
- Exclusive
- Workplace
More Australians go above and beyond duty amid job fears
Discretionary effort has hit a four-year-high as workers try to protect themselves from being made redundant, according to global consultancy Gartner.
Life & Luxury
This week’s edit of lovely luxuries for Mother’s Day
From active mums to working mums and even sleep-deprived mums, we have inspired gift ideas for the maternal figure in your life right here.
The ex-financier and his father blowing fresh life into Murano glass
Christian and Maurizio Mussati started WonderGlass to make lighting – even furniture – in tandem with some of the world’s most exciting contemporary designers.
This CEO owns six bikes, and has his eye on another – worth $24k
Pointerra3D boss Ian Olson knows his family has good reason to lament the lack of space in the garage. But cycling is a big part of his life.
How did $1370 knickers become the world’s third-hottest fashion item?
Miu Miu’s unlikely nylon briefs are a highly coveted piece of clothing right now. A closer look at the brand’s strategies shows why that’s not so surprising.
British designer Zandra Rhodes pays homage to Australia
The woman who dressed Jackie Kennedy Onassis and Princess Diana is giving back to the country she fell for 53 years ago.
