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Today

A Russian hacker has been named as being responsible for the Medicare Private hack.

Deepfake images lure investors to bogus stock clubs

The ASX is among the latest to be exploited in frauds costing investors at least $25 million a week. Here’s how to spot a scam:

  • 40 mins ago
  • Duncan Hughes
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BHP’s $64b game; Chalmers slams ‘trick’ claim; Meme stock stupidity

Read everything that’s happened in the news so far today.

Perpetual’s signage being taken down in Sydney. last week

Perpetual’s shrunken shadow casts a pall over public sharemarket

The shrinking of the active fund manager raises more questions about the future of public markets in a world of private alternatives.

  • The AFR View
GameStop’s market capitalisation surged $US4 billion to $US9.3 billion ($14 billion) in a single session after Keith Gill’s cryptic social media post.

Meme stock stupidity is back at the dumbest possible time

The $6 billion jump in the value of crappy US retailer GameStop is a sign of pure speculative excess. 

  • James Thomson

ASX slips; lithium, nickel stocks jump, GUD rallies 12pc

Australian edge down in quiet session. Energy and real estate stocks fall. Budget at 7.30pm. US producer prices ahead. Follow updates here.

  • Updated
  • Timothy Moore, Joshua Peach, Sarah Jones, Alex Gluyas and Cecile Lefort
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Incorporating non-financial factors into long-term investment decision-making is good investing, not just ESG investing.

No, ESG funds have not had their day

Recalibration of ESG investing has been an excellent exercise in weeding out the greenwashers, bandwagon participants and naysayers. 

  • Amanda MacDonald

Yesterday

Australian shares are poised to start the week lower.

ASX closes flat, Fletcher, Lendlease drop 

Shares flat; Fletcher hit by weak housing market; Lendlease disputes ATO claims; Iress in security breach; ANZ investigated by ASIC. Follow updates here.

  • Updated
  • Timothy Moore, Cecile Lefort, Alex Gluyas, Sarah Jones and Joshua Peach

These 5 ETFs posted double-digit returns in April’s shock sell-off

The fall in global sharemarkets stopped the fast-growing ETF industry in its tracks in April, but proved profitable for several short-style strategies.

  • Updated
  • Joshua Peach
Jim Simons.

The five rules of Wall Street legend Jim Simons still ring true

The death of Jim Simons, the quant king hailed by many as the world’s greatest investor, is a reminder that greatness is rarely made by running with the pack.

  • Updated
  • James Thomson

Lendlease doubts $112m bill; Musk’s video win; Wall St legend’s truths

Read everything that’s happened in the news so far today.

Emma Fisher is not afraid to ‘lean into’ the markets fear.

Airlie’s Emma Fisher is making her next big bets

Mineral Resources and Reece have been career-defining picks. This year, she’s sold down CBA and is going large on one of the most shorted stocks on the ASX.

  • Sarah Jones

This Month

Markets are expecting restraint from the federal budget as the government tries to balance its response to the cost of living with the need to lower inflation.

Markets on edge ahead of budget cash splash

Australian shares are set to edge lower on Monday as they wait to assess the impact of federal budget spending on the central bank’s path to an interest rate cut.

  • Cecile Lefort
Bond manager Angus Coote says another rate hike would send Australia deeper into recession.

Forget the hawks, the RBA’s next rate move will be lower

In my over 20 years in financial markets, I’ve never seen such a wide dispersion of views on interest rates as we currently have in Australia – we are at a pivotal moment in monetary policy.

  • Angus Coote
The ASX is set to open up.

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.

  • Updated
  • Timothy Moore, Cecile Lefort, Joanne Tran, Sarah Jones and Joshua Peach
Graincorp was among a number of companies this week to warn on profit.

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.

  • Joshua Peach
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The biggest overall winner from the magnificent seven’s recent rally is Amazon founder Bezos, who netted about $US8.5 billion unloading stock over less than two weeks in February.

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.

  • Ben Stupples
ASX CEO Helen Lofthouse told staff earlier in the year she was making some “hard decisions” to prioritise the most “strategic and efficient” outcomes for the company.

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.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
The Kinetic Group owns bus and rail transport across the world.

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.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Officials met with more than 100 investors across five continents to sell its first green bond.

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.

  • Updated
  • Cecile Lefort
Maple-Brown Abbott’s Emma Pringle is bullish on Healius despite a shaky 12 months.

Why Rio Tinto is worth more than its $130 price tag

Maple-Brown Abbott’s Emma Pringle is betting the iron ore giant’s share price has more room to run. She’s also bullish on Healius despite a shaky 12 months.

  • Joanne Tran