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- Opinion
- Chanticleer
Why a ‘bemused’ Comyn is wary of banking’s new battleground
CBA’s chief executive started banging the drum on loss-making mortgages early last year. Now, the broader banking sector appears to be thinking along the same lines.
- Exclusive
- Federal budget
The budget is already adding to inflation
The federal budget has injected $22 billion of new policy spending over two years, which economists say will cause higher interest rates than necessary and delay any rate cuts.
- Opinion
- Chanticleer
‘Why would I invest a single cent in Australia?’ asks Orica boss
The explosives giant’s CEO, Sanjeev Gandhi, is getting a little tired of hearing about the Albanese government’s much hyped Future Made in Australia policy.
Stocks rally ‘too good to be true’, warn CIOs
Investment chiefs are warning the sharemarket is looking too expensive given the uncertain economic backdrop and say there’s good reason to remain cautious for the rest of this year.
- Live
- Markets Live
Shares fall; retailers dive, banks drop
Shares slip 1.1pc. Retail worries mount on multiple trading updates. CBA’s profit slips 5pc, consumer debts creep higher. Westfield lifts investment after Bondi attack. Follow here.
- Exclusive
- Wage scandal
Accenture warned of ‘$40m back-pay risk’ for overtime
A former human resources executive claims she warned Accenture’s board it was at risk of having to pay up to $40 million to staff who worked excessive hours.
- Live
- Need to Know
Kerry Stokes ‘cannot cop criticism’
Teal MP Zoe Daniel has accused billionaire Kerry Stokes of anti-democratic behaviour after Seven West Media doubled the cost of printing the AFR. Follow updates live.
CBA profit down; Accenture’s “backpay risk”; Biden says ‘no’ to munitions for Rafah assault
Get the latest business news on the go with the AFR’s new iOS app.
Companies
AFR to stop printing in WA after Seven’s ‘abuse of power’
Nine has been forced to pull its print editions of The Australian Financial Review from Perth after Seven West Media demanded double the cost of printing.
- Updated
- Earnings season
CBA profit falls to $2.4b, ‘momentum’ improves
Commonwealth Bank’s lower margins had reduced profits over the last three months as higher interest rates saw late loan repayments rise.
ASIC says JPMorgan missed dozens of suspicious commodities trades
The banking giant was fined after the corporate regulator found it failed to pick up the unusual orders which were likely intended to manipulate wheat prices.
Allen & Overy merger creates $5.3b firm in push for US clients
Local managing partner Jason Denisenko says the new-look firm will occupy the same space in the market, but will increasingly take on US firms with Australian arms.
‘Intense’ News Corp restructure to target premium content
A challenging ad market dragged down News Corp’s news publications, but CEO Robert Thomson said it had extended a lucrative commercial deal with Google.
Orica’s earnings bolstered by lower costs
The commercial explosives maker has reported a 10 per cent increase in earnings, beating analyst estimates.
Blackstone wants bigger Australia bet as brighter economy beckons
Jon Gray says the US private capital giant will look to increase its exposure to Australia ahead of what he expects will be an economic upswing.
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Markets
Some fundies unconvinced the RBA’s done with rate increases
Fortlake Asset Management’s Christian Baylis has joined a small number of economists who expect rates to rise, not fall. He says inflation isn’t under control.
What happened overnight? The S&P 500 finished little changed
Australian shares were set to open lower. Iron ore slid. The S&P 500 traded in a narrow range. Sweden cut its rate. The BoE was expected to hold.
European stocks rise to new record on solid earnings
European stocks have added 2.1 per cent already this month. Separately, the FTSE 100 hit a fresh record thanks to strong commodities.
Reddit’s bright first earnings report sends shares soaring
Its IPO was one of the biggest in the US this year – and its first earnings report shows that revenue increased 48 per cent.
Companies tap offshore money as IPO drought deepens
A dire environment for capital raising is seeing a rise in dual listing activity between Canada and Australia as companies look to raise more money overseas.
Opinion
No place for antisemitic incitement on campus
The protests that reduce the complex history of the Middle East to simplistic anti-Zionist slogans hardly align with universities’ founding institutional mission.
Editorial
We will need new sources of gas
Australia is committed to reaching net zero emissions by 2050, and we will need gas to get there.
Resources Minister
Why now is not the time for Palestinian statehood
We cannot just hope that Hamas will lay down its arms – it will never happen. Nor can we hope that an alternative Palestinian Authority will emerge. We need to demand it, as a pre-condition of any form of recognition.
Contributor
Albanese’s troubled critical minerals dream
The Albanese government has high hopes for much more downstream processing of critical minerals. But the numbers aren’t adding up. What can change that?
Columnist
Why Gaza is an endless gift for Vladimir Putin
Israel’s war on Hamas is a serious drain for Joe Biden as he heads towards the US presidential election.
Columnist
A rate rise was closer than you think
RBA insiders may be making the case for higher rates, as Michele Bullock walks the line between public opinion and the bank’s credibility.
Economist
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
Everything we know about the budget so far
Treasurer Jim Chalmers will hand down Labor’s third budget on May 14. Here’s what we know about the proposed spending measures.
Labor backs gas ‘to 2050 and beyond’
The government has shed its ambivalence towards gas and adopted a strategy that locks in its use for several more decades along with measures to promote carbon capture.
ASIC puts super funds on notice over $990m in advice fees
Superannuation customers are still being charged fees for no service six years on from the Hayne royal commission.
High Court rejects Crown immunity for sacred sites damage
The custodians of Kakadu National Park have won a test case in the High Court over a walking track at picturesque Gunlom Falls.
Transport costs up 10 per cent nationwide as petrol stokes inflation
The rising cost of diesel in the past three years has put a dent in Jesse Bradley’s removalist business based in Queensland.
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World
Biden to halt weapons shipments if Israel attacks Rafah
The US president’s ultimatum is aimed at trying to deter Israel’s planned operation in Gaza.
Biden fights back after Druckenmiller’s reckless spending lambast
Campaigning in a key state, Joe Biden defended his government’s massive government industry subsidies from critics including the billionaire investor.
- Analysis
- Inside China
China’s flood of cheap exports is about to get worse
EU leaders were this week the latest to scold China about overcapacity, but there are no quick fixes to its factory glut.
Big US companies are pulling back diversity policies
Facing a legal, social and political backlash, America’s diversity, equality and inclusion industry is starting to reassess and rebrand.
- Analysis
- Israeli-Palestinian conflict
Can the ICC actually arrest Benjamin Netanyahu?
The International Criminal Court is entitled to judge Israeli and Hamas officials, writes one of its former presidents.
Property
Why $800,000 homes are in hot demand
Competitive pressure is building up in this segment of the market as investors and first-home buyers return in droves.
Goodman’s data centre push gathers speed
Occupancy across Goodman’s China portfolio was 93 per cent over the March quarter, compared with 98 per cent across its overall portfolio.
Government’s $91m tradie plan only ‘modest’ boost for home building
Australia’s target of 1.2 million new homes is a crisis of surging demand and a construction workforce facing its own demographic challenges.
Dutch pension fund giant puts $700m into Sydney build-to-rent start-up
Apt.Residential has won the backing of PGGM, which has committed $700m to the rollout of 2500 apartments.
- Exclusive
- Luxury property
Cotton On CFO lists Melbourne mansion with a contemporary twist
Cotton On CFO Michael Hardwick and his wife Diana have put their Melbourne mansion on the market guiding up to $13.75m after a major renovation.
Wealth
A smarter way to tax high super balances
The government has tried to keep things simple, but in doing so fairness has gone out the window.
Coalition to oppose ‘sophisticated investor’ test overhaul
Labor is grappling with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
We have $700,000 in super – can we buy investment property with it?
If you want to add a geared investment property to your retirement savings, here’s what you must think about.
Technology
Ex CSIRO boss would pick different ‘winners’ in $1b quantum push
Larry Marshall, former CEO of CSIRO, says taxpayer money should be targeted at points in the quantum computing supply chain, not the finished product.
- Exclusive
- Executive shake-up
New Uber bosses to see through gig economy transition
There will be new heads of both Uber and Uber Eats in Australia, ahead of gig economy rules that threaten to significantly raise its cost of doing business.
- Opinion
- Digital Life
Will Apple’s new iPad Pro finally replace your laptop?
Apple says its new M4 iPad Pros will have better AI, better performance and better battery life than laptops. But don’t throw away your laptop just yet.
Work & Careers
‘The gap below Cartier and Tiffany’: Michael Hill’s luxury play
ASX-listed jeweller Michael Hill has been undergoing a major rebranding exercise.
Melbourne shuns office return, Sydney coaxed by redundancy fears
New figures also show Canberra has the second-lowest office attendance rates as public service workers do not face the same scrutiny as Sydney’s private sector.
Life & Luxury
The 10 best private dining rooms in Australia
Whether it’s for a corporate event, a birthday, or just because, these venues take a lot of beating for excellent food, top wines and exclusive service.
Brisbane’s best restaurants for a business lunch
Where to go when you’ve got a deal to discuss, when you want to impress your top client or thank the team – as tested by our reviewers.
Where to dine for business in Canberra, Darwin, Hobart and Launceston
Where to go when you’ve got a deal to discuss, when you want to impress your top client or thank the team – as tested by our reviewers.
Could this gym’s new $60,820 membership really help you live longer?
US fitness chain Equinox’s latest offer includes high-touch exercise, nutrition and sleep coaching “based on members’ unique biodata” taken from blood tests.
‘Kingdom of the Planet of the Apes’ and ‘Monster’ movie reviews
One is set to be a blockbuster, but the other is one of those critically acclaimed films that can expect to enjoy only a modest success at the box office.
From the gallery
BOSS Financial Review
‘The gap below Cartier and Tiffany’: Michael Hill’s luxury play
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- Patrick Durkin
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