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‘We’ll fight with our fingernails’: Netanyahu hits back at Biden
The Israeli prime minister said the country was prepared to stand alone if necessary if it attacks Rafah to further its destruction of Hamas.
- Live
- Markets Live
ASX to rise, QBE confirms outlook for 2024
Australian shares are set to open higher, boosted by further gains in New York. BoE boss stokes June rate cut hopes. Follow updates here.
Cabal of industry super funds, led by investors, weighed ASX takeover
The ASX is an essential piece of infrastructure, and has a quasi-monopoly position, a description that would fit Sydney Airport, for instance, which went private in a $23.6 billion takeover.
- Live
- Need to Know
Air Vanuatu placed into voluntary liquidation
Thousands stranded after state-owned carrier cancels flights; Labor goes to war with Meta; Wong undecided on UN Palestine vote. Follow updates live.
Business loan demand spikes, keeping inflation fears alive
CBA, the country’s largest lender, says a strong labour market is driving “robust” demand from companies, which could push up prices, economists warn.
Stormy Daniels accused of profiting off Trump sex claims
The former president’s lawyers are trying to undermine the porn actor’s credibility as the trial resumes in Manhattan.
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.
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review
- Analysis
- EU
Europe’s far right is becoming mainstream
Anti-immigration parties with fascist roots, and an unclear commitment to democracy, are emerging as Europe’s new leaders, the New York Times reports.
- Opinion
- USA
Campus protests may help Donald Trump win
History suggests the intellectual conformism sweeping university life could trigger a popular backlash that ends in conservative rule.
- 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.
- Analysis
- Banking products
Good banks today want to be seen as boring
Regional US financial institutions are promoting themselves as stodgy, stuffy and dull in response to industry failures.
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.
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Companies
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.
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.
Mining titan Evy Hambro says it’s time to buy, rather than build
One of the world’s most influential mining investors, BlackRock’s Evy Hambro, has signalled he is open to M&A as BHP hunts Anglo American.
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
- Retail
Half-priced detergent every few weeks? Shoppers can smell a rat
Deep food and grocery discounts have become increasingly popular with consumers, but the cost is unfairly borne by suppliers, prompting calls for change.
- 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.
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.
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Markets
Bank of England boss ‘optimistic’ that interest rate cuts are coming
The BoE left its benchmark unchanged at 5.25 per cent but the UK economy is looking ripe for a rate cut.
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.
What happened overnight? Wall Street extended its rally
Australian shares were set to edge higher as US equities lifted, helped in part by solid demand for the sale of 30-year government bonds.
Bezos, Zuckerberg lead magnificent seven insider stock sales
Almost a dozen executives and directors at the firms recently boosted their share sales, earning more than $242 million since late 2023.
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.
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
Half-priced detergent every few weeks? Shoppers can smell a rat
Deep food and grocery discounts have become increasingly popular with consumers, but the cost is unfairly borne by suppliers, prompting calls for change.
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
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
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
New gas projects receive support amid Labor unease
Resources Minister Madeleine King has backed the development of the Narrabri gas field in NSW, and the Queensland Labor government has given the green light to four new projects in the Bowen Basin.
Labor goes to war with Meta in far-reaching inquiry
Facebook boss Mark Zuckerberg and X owner Elon Musk could be called on to face federal parliament, as part of a new inquiry into social media algorithms.
Budget tips business investment to slow
The recovery in business investment is tipped to slow markedly in federal budget forecasts, as a cooling economy forces firms to reassess capital expenditure plans.
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.
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.
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World
- Exclusive
- Nuclear energy
Australia doesn’t need nukes: International Energy Agency boss
The global energy tsar says Australia should play to its strengths in renewables. But the net-zero champion also backs carbon capture, and the role of gas.
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.
- Opinion
- Legal industry
How the US Supreme Court became a political organisation
When judges make decisions that should be left to politicians, they undermine democracy.
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.
Property
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.
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.
Wealth
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.
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.
Technology
The $13.6 trillion question: how do we pay for the green transition?
The private sector will have to provide about 70 per cent of climate finance globally, and the heat is building on governments to deliver policies that do that.
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.
Work & Careers
- 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.
Why this executive uses generative AI every second hour
Microsoft says workers who use AI can be divided into four camps: sceptics, novices, explorers and power users, who get back more than 30 minutes a day in time saved.
Life & Luxury
Byron Bay’s Lane family open doors to luxury equine estate
The line between Tom and Emma Lane’s passions – luxury estates and horses – are exhilaratingly blurred at their latest lavish retreat, Copperstone.
How to host a business lunch
The lowdown on what to do – and what not to do – from three hosts who are legends in their own business lunch times.
Think you know this week’s news? Answer these 10 questions
Have you been paying attention this week? Test your knowledge across politics, business and world news.
- Opinion
- Mental health
Is it time to stop talking about mental illness?
I believe many young people are being encouraged to frame normal experiences as psychiatric conditions. There are even financial motivations.
This week’s pick of luxuries: foiling surfboards to fancy chandeliers
For the sporty type to the redecorator or wardrobe refresher, we have inspired suggestions for you.
