If your business is turning inspiration into innovation, it’s time to be recognised.
PE firm behind Bonza, Melbourne Victory calls in insolvency experts
The private equity firm called in advisers overnight to assist with “operational challenges”. It is a major shareholder in the A-League club and budget airline.
Labor to spend $11.3b on social housing
The new package to be detailed in the budget aims to enable states and territories to combat homelessness and repair social housing.
Australia votes in favour of Palestinian statehood at UN
The renewed push for full Palestinian membership comes as the war in Gaza has put the more than 75-year-old Israeli-Palestinian conflict at centre stage.
- 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.
- Analysis
- Earnings season
Can the banks fight their way out of the commodity trap?
It’s hard to see how the banks can meaningfully increase profit margins unless the trend towards mortgage brokers reverses.
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.
- Exclusive
- Antisemitism
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.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
weekend reads
- Exclusive
- Tax avoidance
Lendlease hit with $112m tax bill over retirement business
The property group has been hit with an initial $112 million bill from the Tax Office, in a dispute that could ultimately cost it more than $300 million.
- 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.
The history of the two-state solution (in six maps)
The world is still searching for a path to peaceful co-existence by Israelis and Palestinians.
This tree symbolises how Victoria became a financial basket case
After 300 years of withstanding the elements, the River Red Gum in Bulleen forced the North East Link to be redesigned as the cost of the project blows out by billions of dollars.
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.
smart investor
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?
- Opinion
- Interest rates
RBA’s credibility at risk as central banks confront interference
Alleging neutrality while considering lifting rates seems contradictory.
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.
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.
- Opinion
- Flat Chat
Building commissioner’s parting warning for property developers
David Chandler’s legacy includes an army of inspectors able to identify the developers most likely to produce suspect buildings.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Lex Greensill alleges his UK pursuers were protecting David Cameron
The fallen Aussie financier alleges that media leaks by the Insolvency Service, which is seeking to ban him as a company director, were politically motivated.
CBA victory shows tide is turning on shareholder claims
The decision is more proof that shareholder claims are no longer a lay-down misere, lawyers say.
Women’s basketball chases investors for $20m-plus slam dunk
The WNBL is for sale. It’s attracted interest from Aussie rich-listers to offshore funds.
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.
Ten and Wilkinson win order for Lehrmann to pay up
Justice Michael Lee ordered Bruce Lehrmann to pay most of Network Ten and Lisa Wilkinson’s court costs – but had strong words for Ten’s conduct.
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.
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.
Companies in the News
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Markets
Michele Bullock’s run of good news may be about to end
RBA governor Michele Bullock has proven a better communicator than her predecessor Philip Lowe. But her real test may still be yet to come.
Dow Jones, S&P 500 edge higher
US equities ended the week with a modest advance, though the megacap techs were mixed and the Nasdaq edged down.
Jim Simons, ‘quant king’ at Renaissance Technologies, dies at 86
The mathematician-investor created what many in finance consider the world’s greatest moneymaking machine at his secretive firm.
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.
Fed’s Logan says still too early to think about rate cuts
Lorie Logan, the president of the Dallas Fed, flagged uncertainties over how restrictive monetary policy is.
Opinion
Australia wants more than the Lucky Country can deliver
Successive terms of trade booms – the envy of other nations – have allowed Australian governments to splurge. But now it seems that even that is not enough.
Editorial
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
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.
Legal 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
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
- Opinion
- Federal budget
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.
- 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.
Trade partners applaud gas certainty; trouble brews for Labor at home
Gas, not wishful thinking, is needed to get to net zero, says Anthony Albanese.
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.
Australia considers voting yes on Palestine’s UN bid
Penny Wong says abstaining is a common diplomatic practice, amid pressure to admit Palestine as a United Nations member.
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World
US plans to impose major new tariffs on Chinese EVs
Tariffs on electric vehicles could quadruple to 100 per cent when the Biden administration details its plans next week.
More people flee Rafah as fears rise of full-scale invasion
Israeli troops continued to exchange fire with Palestinian fighters near Rafah on Friday, according to both the Israeli military and Hamas.
Ukraine rushes reinforcements to counter Kharkiv regional push
Russian military bloggers said the assault could mark the start of an attempt to carve out a “buffer zone” sought by President Vladimir Putin.
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.
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.
Property
- 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.
- Exclusive
- Luxury property
AI pioneers pay $12.45m for harbourside penthouse
Appen founders Chris and Julie Vonwiller have joined a trend of “discerning down-sizers” seeking large apartments.
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.
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.
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
15 minutes to get around X’s stabbing video ban, court hears
Lawyers for the social network argued that they had complied with a government take-down notice, which they said was invalid, by blocking footage in Australia.
- 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.
- Opinion
- Tech Observed
Apple ad fail shows why we fear AI
Apple has apologised for an ad for its new iPads that was so tone-deaf that the creative types, who normally love the company, had an existential fright.
Work & Careers
CFMEU in ‘open defiance’ of the law: judges
Federal Court judges said the CFMEU “simply regards itself as free to disobey the law” and 25 years of fines have done nothing to stop it.
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.
Life & Luxury
When business comes to dine: Fin Dining & Wine launches at Bennelong
The Financial Review’s first restaurant guide features 50 of the best business lunches across Australia, helmed by Jill Dupleix with wine tips from Max Allen.
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.
