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The impasse between Jim Chalmers and Angus Taylor means the new RBA interest rate setting board will not be up and running by its planned start date of July 1.

RBA board split in doubt as Libs dig in

The impasse between Jim Chalmers and Angus Taylor means the new RBA interest rate setting board will not be up and running by its planned start date of July 1.

Departures lounge: Perpetual chairman Tony D’Aloisio and chief executive Rob Adams.

There’s a bigger story behind Perpetual’s sad break-up

The break-up of Perpetual is a story of mismanagement, but it also speaks to the structural changes sweeping across Australia’s financial sector.

For this Rich Lister, does the reality live up to the hype?

Property mogul and entrepreneur Shaun Bonett has a fortune of more than $2 billion, according to the Rich List. Those valuations might not live up to the hype.

Tesla slashes jobs in Australian charging team

The company’s global cuts have come to Australia, with staff laid off and at least one charger location cancelled.

Immigration system is stronger after High Court decision: Giles

Iranian man’s unlawful detention claim dismissed; Air Vanuatu enters liquidation; Wong undecided on UN Palestine vote. Follow updates live.

ASX gains; Life360, Suncorp slump

Shares lift; Suncorp homeloans up; QBE premium increases help results; Helia in $100 million share buyback, Upbeat outlook for St Barbara. Follow updates here.

Investors urge caution as Rio Tinto eyes BHP’s $40b Anglo bid

Rio Tinto should not challenge BHP for control of Anglo American, and should instead target smaller lithium and copper producers, a major investor says.

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  • Analysis
  • EU
Europe’s far right is becoming mainstream.

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.

Former US president Donald Trump enters the Manhattan Criminal Court this week.

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.

Benjamin Netanyahu at a ceremony marking Holocaust Remembrance Day at Yad Vashem, the World Holocaust Remembrance Centre, in Jerusalem on Monday.

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.

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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Get the latest business news on the go with the AFR’s new iOS app.

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Companies

Seven West Media chairman Kerry Stokes.

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.

De Grey Mining says its Hemi project is on track to become one of Australia’s biggest gold mines.

Gold Road’s takeover grip on $2.3b De Grey loosens

Gold Road’s grip on Australia’s best undeveloped gold mine will loosen after it bought only a portion of its rights in De Grey to keep alive a rival deal.

QBE chief executive Andrew Horton (left) and chairman Mike Wilkins.

QBE pumps up Aussie premiums but squeeze slows

At the insurer’s AGM on Friday it revealed growth in all commercial markets, including in Australia where premiums went up by 11 per cent, the lowest in 12 months.

CBA and its rivals have reported strong demand for credit from businesses, a sign of strength in the economy.

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.

Mining titan Evy Hambro says it’s better 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.

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.

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

The Bank of England is hoping for a rosier economic picture.

Bank of England boss ‘optimistic’ 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.

The elevation of Nir Bar Dea, 42, to CEO marked the end of a 12-year transition away from Ray Dalio.

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.

Wall Street.

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.

Phillip Coorey

Political editor

Phillip Coorey

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.

The AFR View

Editorial

The AFR View

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.

The AFR View

Editorial

The AFR View

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.

Sue Mitchell

Columnist

Sue Mitchell

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.

Madeleine King

Resources Minister

Madeleine King

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.

The AFR View

Editorial

The AFR View

Reports

BOSS Best Places to Work

The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.

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Politics

Minister for Immigration Andrew Giles.

High Court hands Labor rare win on immigration detention

Immigration Minister Andrew Giles welcomed the ruling in the case of the man known as ASF17, who said he would face persecution for being bisexual if he was sent back to Iran.

The 300-year-old River Red Gum in Bulleen wins Victoria's tree of the Year in 2019.

The tree that symbolises how Victoria became a financial basket case

The 300-year-old River Red Gum, named Victoria’s 2019 tree of the year, is a symbol of everything that is wonderful, but possibly wrong, about the state of Victoria.

International Energy Agency executive director Fatih Birol.

Australia doesn’t need nukes: International Energy Agency boss

Global energy tsar Fatih Birol says Australia should play to its strengths in renewables, and there should be less emotion and politics in energy discussions.

Military tensions flare on the road to stability with China

A near miss between a Chinese fighter jet and Australian helicopter show that friction remains despite improvement in ties between Beijing and Canberra.

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.

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World

‘We’ll fight with our fingernails’: Netanyahu hits back at Biden

The Israeli prime minister defiantly said the country was prepared to stand alone if necessary if it attacks Rafah to further its destruction of Hamas.

Former President Donald Trump walks to the courtroom following a break in his trial at Manhattan criminal court on Thursday.

Trump’s long week in court as election looms

Stormy Daniels’ allegations of a sexual encounter with Trump set the courtroom alight this week. How they play into his election chances is unclear.

Trump’s ownership of nearly 60 per cent of the company has made the listing a symbol of the presumptive Republican nominee’s ability to capture the attention of individual traders.

Trump asked oil CEOs for $1.5b donations in exchange for favours

The former president demanded $US1 billion in donations to get re-elected and offered to overturn environmental rules and policies to help the oil industry.

Why Australia’s long-suffering renters are not alone

Rents are soaring not only in Australia but also in the US, UK and Canada, preventing inflation from declining closer to central banks’ targeted levels.

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.

Property

Scentre CEO Elliott Rusanow.

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.

Apartments for rent in the West Village neighbourhood of New York.

Why Australia’s long-suffering renters are not alone

Rents are soaring not only in Australia but also in the US, UK and Canada, preventing inflation from declining closer to central banks’ targeted levels.

Low and medium density housing in Sydney.

NSW, developers at loggerheads over infrastructure contributions

Scrapping two new developer levies in NSW would clear the way for at least 50,000 extra homes over five years, according to the property industry.

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.

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Wealth

ASIC’s Simone Constant says super funds found evidence of fees being charged but no service delivered.

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

Farmers’ software start-up raises $11m with profitability promise

The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.

Why everyone’s mad at Apple’s new iPad ad

Apple’s crushing of human creativity has sparked backlash, but its new iPad Pro ad has also inspired some surprising video responses.

While all countries will need to cut greenhouse gas emissions if the world is to limit global warming, many of the poorest are struggling with ever-stretched budgets.

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.

Work & Careers

Emma Lo Russo with her children Eliza and Jack.

Love or money? What to tell kids about career choice

Do you tell them to do what they love or urge them to become a doctor, accountant or a lawyer because it will provide financial security?

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.

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Life & Luxury

Cult tailor Patrick Johnson opens stupendous new Sydney showroom

Ballroom blitz: A grand building, and a touch of dirty pink, has resulted in a suitably spiffy new CBD space.

“Thanks to Dr Google, everybody thinks they’ve got ADHD,” says the ADHD Foundation’s Christopher Ouizeman.

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.

Demi Moore at the Met Gala on Monday.

Why women should stop cutting their hair short in midlife

At Monday night’s Met Gala in New York, the already long-haired Demi Moore, 61, fabulously threw out the midlife beauty rulebook. Here’s how you can do it, too.

The colour of Copperstone’s exterior render is a nod to the local volcanic soil.

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.

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.

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