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Federal government backs gas imports to southern states
The extra gas will need to be delivered from the northern states from a retooled national gas network or LNG import terminals.
- Opinion
- Canberra Observed
Budget week is time for Dutton to roll a few Jaffas down the aisle
In the same week Peter Dutton went in to bat for the Koalas, Labor flew the flag for gas, writes Phillip Coorey.
- Updated
- WA budget
WA infrastructure spending goes ‘up another gear’
Premier Roger Cook has vowed to shift infrastructure spending “up another gear” as the state splashed billions on cost-of-living and housing, to absorb the record 95,000 people who moved west last year.
ASIC finds super funds still charging fees for no service
Super funds are obliged to ensure members are only charged for financial advice they actually receive but not all are doing so.
Macquarie readies sale of $450m-a-year Kinetic; seeks 10x multiple
Kinetic recently ruled off a $1.6 billion refinancing which Macquarie reckons puts it in a position to accelerate the decarbonisation of its fleet.
Behind the PM’s $3b ‘bailout’ of Victoria’s most expensive road
Experts blame a $10 billion blowout for the North East Link on CFMEU disruptions, a failed tender process and crazy design decisions to pander to community groups.
- Opinion
- Chanticleer
What we learnt as CEOs meet capital markets kings, queens
It’s been three days of watching CEOs pitch to fund managers and hearing their off-record feedback at Macquarie’s annual conference. Both sides are more upbeat.
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Companies
- Updated
- Manufacturing
Orica says lower input costs offsetting fall in revenues
The commercial explosives maker has reported a 10 per cent increase in earnings, beating analyst estimates.
Stokes’ anti-AFR price rise could breach competition law: Samuel
Billionaire Kerry Stokes has faced political criticism – and calls for an ACCC investigation – for forcing The Australian Financial Review print edition out of his home state of WA.
Perpetual backer Soul Patts says board got a good price out of KKR
The investment company, which holds nearly 15 per cent of Perpetual, believes the trust and wealth businesses have been traded for more than it was ever willing to pay.
- Opinion
- Chanticleer
CBA shows this is not your parents’ slowdown
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.
Westfield Bondi owner says shoppers are back after horror attack
Scentre chief executive Elliott Rusanow said the mall operator had increased security spending as it returned to a “different” normal after the fatal attack.
- Updated
- Earnings season
CBA profit falls to $2.4b but ‘momentum’ improves
Lower margins reduced profits at the country’s largest bank over the last three months, as higher interest rates saw late loan repayments rise.
PSC takeover delivers $350m payday for insurance broker
Analysts say Ardonagh’s offer of $2.3 billion for the Melbourne-based insurance broker represents an “attractive multiple” as chairman Paul Dwyer realises a huge windfall.
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Markets
Shares smashed as optimistic shoppers prove no match for retail weakness
JB Hi-Fi and Baby Bunting were among stocks to slide amid disappointing earnings. But new Barrenjoey analysis suggests that the worst may have passed.
Shares fall; Baby Bunting crashes, 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.
New Bridgewater chief ‘rewires’ world’s largest hedge fund
Nir Bar Dea says he had overhauled the firm after just a year in charge, in a bid to restore investment performance and mark a break from founder Ray Dalio.
Stock rally ‘too good to be true’, warn CIOs
Investment chiefs say the market looks too expensive given the uncertain economic backdrop and that there’s good reason to be cautious for the rest of this year.
Investors are set to pile into Australia’s first green bond
European fund managers are backing the federal government’s plans to shed its reputation as a coal polluter, with its $7 billion bond looking well oversubscribed.
Opinion
Budget week is time for Dutton to roll a few Jaffas down the aisle
In the same week Peter Dutton went in to bat for the koalas, Labor flew the flag for gas.
Political editor
Sad halting of the press in WA
The Australian Financial Review has built a publishing model based on premium digital subscriptions. But it is still sad that from May 22, no one in Western Australia will be able to read a hard copy version.
Editorial
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
Labor locks gas firmly into energy transition
The Future Gas Strategy reaffirms a strong role for gas, but despite the title it is light on ideas to get there.
Editorial
Why Albanese is going all in on gas
The Labor government has infuriated climate activists by insisting that gas will play a crucial role in the energy transition for many decades to come. Big producers like Woodside will wait to see what that means.
Columnist
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
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
Behind the PM’s $3b ‘bailout’ of Victoria’s most expensive road
Experts blame a $10 billion blowout for the North East Link on CFMEU disruptions, a failed tender process and crazy design decisions to pander to community groups.
Australia’s defence chief rejects Chinese spying claims
In his first comments on dramatic helicopter near miss, General Angus Campbell said a Chinese pilot had acted unsafely and unprofessionally.
WA taps Albanese for $200m critical minerals hub
WA has earmarked land near where Alcoa is closing its alumina refinery and a BHP nickel refinery is hanging by a thread for a critical minerals processing hub it wants the Albanese government to co-fund.
- 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.
Let first home buyers drain super for property: Senate committee
First home buyers should be able to withdraw all their retirement savings to buy a house, a Coalition-dominated Senate committee has found.
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World
Russia not looking for global power clash: Putin
Vladimir Putin now casts the war as part of a holy struggle with the West, which he says has forgotten the role played by the Soviet Union in defeating Nazi Germany.
‘Show leadership’: Palestinian plea ahead of key UN vote
The Albanese government is being lobbied heavily over whether to support a symbolic vote upgrading Palestine to full membership of the UN.
Biden says US will not supply weapons for attack on Rafah
The US president’s ultimatum is aimed at trying to deter Israel’s planned operation in Gaza.
China’s exports return to growth in boost to shaky economy
China’s exports edged higher in dollar terms last month as Beijing pinned its hopes on a manufacturing-led revival to boost flagging growth.
- Analysis
- Electric vehicles
This is how China’s car dealers are driving the EV revolution
Chinese car dealers are ditching foreign brands slow to respond to the EV transition, while turning to homegrown makers that have been gobbling up market share.
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.
How TikTok changed fashion
Trends in what people wear, whether hemlines, colours or the way they think about and shop for clothes, no longer begin with designers or even influencers.
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.
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BOSS Financial Review
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