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Lowy’s lament: ‘I know how insidious antisemitism can be’
Sir Frank Lowy experienced hatred against Jews first hand in Hitler’s Europe, and is shaken by what he now sees “leaking out of decent people” in Australia.
Greens demand $2m threshold for super wealth tax
The Greens have a new list of demands in exchange for their support on Labor’s new tax on high balance super accounts.
Inside Project Constantine, the plan to sell Perpetual
Soul Patts’ $3 billion offer for the asset manager set the stage for whirlwind negotiations and accelerated a sale that private equity firms had eyed for years.
Confession season kick-off fails to derail ASX run
Fund managers say this year’s Macquarie Australia Conference was among the least eventful in recent memory – and that may be a good sign for investors.
Bonza in talks with six buyers despite owing $100m and losing planes
Creditors of the collapsed budget airline were told that it owed more than $100 million to backers, customers and staff after going under late last month.
- Exclusive
- Interest rates
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.
- Live
- Markets Live
Energy pushes ASX higher, Life360 falters
Shares lift; Suncorp homeloans up; QBE premium increases help results; Helia in $100 million share buyback, Upbeat outlook for St Barbara. Follow updates here.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
review
- 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.
- 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.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Investors urge caution as Rio Tinto eyes BHP’s $60b 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.
- Updated
- Earnings season
Life360 reheats plans to target US investors with Nasdaq listing
The ASX-listed, San Francisco-based family-tracking app does not expect to raise more than $US100 million. It had considered a similar move in 2021.
BHP’s Anglo American bid clouds Rinehart-backed potash project
The miner had been in talks about selling a big stake in the fertiliser development amid a plunge in prices linked to higher exports from Russia and Belarus.
- Analysis
- The Breakdown
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.
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.
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.
- Updated
- AGM season
QBE pumps up Australian premiums, but squeeze slows
QBE revealed growth in all commercial markets at its AGM, including in Australia, where premiums increased by 11 per cent.
Companies in the News
Search companies
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Markets
Crypto miner spruiked 16pc returns for five years without a licence
A Gold Coast cryptocurrency miner was authorised to provide financial services for less than seven months despite operating for six years.
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.
Iron ore’s big China property problem isn’t going away
Pockets of strength in the Chinese steel market have boosted the raw material after a plunge below $US100 a tonne early last month but investors are cautious.
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.
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.
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
RBA’s credibility at risk as central banks confront interference
Alleging neutrality while considering lifting rates seems contradictory.
Columnist
GST and gas show a government that’s still out of tune
A huge GST handout to WA and a report that gives a free pass to the state’s gas industry show how far parochial toadying in the west will go.
Columnist
China’s grim pattern in South China Sea needs a collective response
A quiet tussle is going on over China’s ambitions to control all of its neighbouring seas. Affected countries need to unite before China miscalculates.
Defence expert
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
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
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
‘Unprecedented’ migration blamed for jump in WA spending
Treasurer says the state government had been forced to spend more on education, housing and healthcare after 95,000 people moved to WA last year.
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 says he would face persecution if he was sent back to Iran.
- Analysis
- Immigration
No more gaming the system, says High Court
The High Court has sent a clear message: those “manipulating the system” won’t be rewarded with a get-out-of-detention free card.
- Analysis
- Federal budget
The budget that could be make or break for Labor
Jim Chalmers is gearing up for his third and most important budget. If he spends too much and stokes inflation, he knows he’ll own the next rate increase.
Energy funding chopped under weight of Victoria’s debt
Experts say this week’s state budget shows the Victorian government has prioritised major transport projects over the energy transition.
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World
Japan’s energy giants applaud Australia’s ‘clear’ gas plan
Japanese energy giant Inpex said the Albanese government’s new gas strategy shows Australia’s role as a “reliable and trusted” partner.
‘We’ll fight with our fingernails’: Netanyahu hits back at Biden
The Israeli prime minister defiantly says the country is prepared to stand alone if necessary if it attacks Rafah to further its destruction of Hamas.
- Analysis
- US election
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 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.
- Analysis
- Renting
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.
Property
Simon and Catriona Mordant shoot for record with $16m trophy weekender
The Sydney power couple have listed their Clareville waterfront, which is expected to reset the suburb record.
- Exclusive
- Luxury property
Liberman family to sell $17m Toorak ‘treehouse’
A glass and steel modernist retreat designed by Robin Boyd has joined Toorak’s prestige market with a guide of $15.9 million to $17 million.
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.
- Analysis
- Renting
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.
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.
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
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.
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
Why so many top executives start in accounting, consulting
BOSS delves into the career paths of the senior executives at Australia’s 20 biggest companies to discover where they started – and the critical skills and experience they gained.
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?
Life & Luxury
This luxury spa in India costs $17k for five nights. Is it worth it?
We road-test celebrity magnet Ananda Spa in the Himalayas.
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.
The world’s wiliest climate warrior? It’s not who you think
International Energy Agency boss Fatih Birol, a lifelong bureaucrat with roots in the oil industry, has made the net zero transition a personal mission.
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.
- 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.
