Underwhelmed voters fear budget will lift rates
Almost 40 per cent of voters think last week’s big-spending federal budget increases the chances of another interest rate rise, and just one quarter believe they will be better off, the latest poll shows.
Tax reform needed to break Australia’s economic inertia: think tank
The Blueprint Institute says the Australian economy is in a state of inertia and needs ambitious tax reform, calling for more focus on consumption, land and resources.
- Opinion
- Inside China
Two massive things happened while we were watching the budget
While most of us were watching Treasurer Jim Chalmers’ third budget, two huge developments took place overseas that will be much more crucial in determining our future economic prosperity, writes Karen Maley.
Aware Super wants a new chairman at Lendlease, fast
Lendlease’s biggest investor has called for an external candidate to replace Michael Ullmer, and urgently steer the embattled developer’s turnaround.
Victorian Labor votes to oppose Future Gas Strategy
The state branch of the party chastised the strategy at its annual conference, labelling it “incompatible” with Australia’s emissions reduction targets and international obligations.
Meet the former Deloitte consultant taking on Allegra Spender
“There’s no doubt it is going to be a challenge,” says Roanne Knox. It’s a sentiment echoed by party insiders who think Wentworth will be the most difficult of all teal seats to win back.
ASX eyes record high as rate cut hopes fuel euphoria for shares
Australian shares are set to advance after the Dow Jones crossed the historic 40,000 level on Friday with Nvidia’s earnings this week destined to test the rally.
The daily habit of successful people. Now on WhatsApp Channels.
MONDAY MEDIA
- Analysis
- Start-ups
Growing pains: Tougher times put VC on a collision course with media
From rumblings of a boycott to senior technology investors complaining, Australia’s start-up and media industries aren’t as close as they used to be.
- Analysis
- Due diligence
ARN Media’s M&A record holds out for elusive win
After seven months, the dream of an ARN-Southern Cross combination fell apart. But if history is any guide, M&A has been a source of unease for ARN investors.
- Analysis
- AI
Google search is becoming Google answers. That is bad news for media
In a world where AI can browse the internet and paraphrase what it sees, users may find they never click on links again. That could be a big problem for publishers.
The researchers influencing billions in global marketing
The Ehrenberg-Bass Institute is sponsored by The Coca-Cola Company, McDonald’s, Mars, Nestlé and PepsiCo. Its findings guide global business decisions.
- Opinion
- Workplace
Baidu’s PR boss was fired for being a workplace tiger mum
When the of head of public relations for China’s Google was fired over blunt remarks about staff, managers everywhere lost an honest voice.
SPECIAL REPORT: WEALTH ADVICE
How this Millennial plans to retire at 35
Saving hard and opting out of the consumer lifestyle has helped these people retire decades before their parents did.
Why I’ve got more in my super than when I retired 11 years ago
Choosing the right financial adviser can help set strategies, achieve goals and protect wealth. Here’s how to find the right one – and how much you should pay.
I’m a Zillennial. Is financial advice worth it for me?
At $4700, many young Australians would think twice about taking on a financial adviser. But are there instances when it’s worth it?
‘I thought I had dementia’: How menopause crimps income and super
Menopause costs women as much as $60,000 in retirement savings, according to ASFA.
Australian ETF winners had returns as high as 153pc
US megacap tech stocks and cryptocurrencies proved profitable investments in the last year, according to the latest top-performing ETF data – alongside some other surprise standouts.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Aware Super wants a new chairman at Lendlease, fast
Lendlease’s biggest investor has called for an external candidate to replace Michael Ullmer, and urgently steer the embattled developer’s turnaround.
Sanjeev Gupta’s InfraBuild accuses Chinese rivals of bending rules
The British industrialist’s Australian steel business wants regulators to curb Chinese suppliers of steel mesh used here in residential concrete foundations.
Lenders creating ‘unnecessary barriers’ for struggling customers: ASIC
With living costs high, ASIC chairman Joe Longo has issued a stern report on bank hardship policies. ABA chief Anna Bligh says processes are being improved.
Rio makes safety change after double-impact derailment
Iron ore giant Rio Tinto reopened the rail line damaged in a train crash as the Mining and Energy Union seeks to highlight a pattern of alleged safety failures.
- Exclusive
- Tourism
On Hamilton, a family dynasty bets there’s more money in islands
After showing potential buyers around last year, Sandy Oatley and his family are instead developing a new resort as they double down on the island.
SkyCity agrees to $67m penalty as licence decision looms
The case was based on allegations the company allowed high-risk patrons to gamble more than $4 billion in dirty cash through its casino.
Westpac brings back time sheets for salaried staff up to $140k
Time recording for high-earners is becoming the new norm in the finance sector as firms guard against underpayments from excessive overtime. But some white-collar workers “hate it”.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Sharemarket
These stocks are primed for ‘tectonic-sized’ tailwinds
The magnificent seven are not the only way to play artificial intelligence, there’s money to be made in storage, energy and software on the ASX too, writes Jun Bei Liu.
Ex-Soros star Scott Bessent jockeys with John Paulson to run Trump’s Treasury
While Ken Griffin and other mega donors are focusing on Trump’s vice presidential pick, those on Wall Street are angling for a different spot in a second Trump administration.
S&P 500 hovers near record high
US equities gave up early gains to close mostly modestly higher. Copper, nickel and silver surge. Gold, oil also rally. $A touches US67¢.
Nvidia bulls are selling – here’s what one fundie is buying instead
The AI market darling is reporting earnings next week, following a jaw-dropping share price run in the last 18 months.
BlackRock’s Rieder says rate cut would tame US inflation
High interest rates are generating more income from fixed-income investments for well-heeled Americans, the firm’s chief investment officer says.
Opinion
Budget and reply add up to a bad week for Australian prosperity
Both major parties are failing to meaningfully engage with the centrist growth agenda of incentive-sharpening policy reform and mostly disciplined macro policy that provided the foundation for Australia’s three decades of prosperity.
Editorial
Punters are not convinced by Labor’s budget
The budget had two main political aims: to help further with the cost of living; and, in doing so, buy a pre-election interest rate cut. The punters are not convinced it will achieve either, polling finds.
Political editor
Dutton’s migrant crackdown treats economy with disdain
In the populist pitch to bring down house prices, there is little recognition of the role of migrants in filling acute skills shortages across the economy.
Deputy editor - News
Made in Australia is just copying US and China protectionism
Anthony Albanese has replicated the economic strategies of Donald Trump, Joe Biden and Xi Jinping. The small mercy so far is no increased tariffs on imports.
Columnist
Keeping Eraring open is about engineering not morality
The imminent decision around when to close Australia’s biggest coal-fired power station is a watershed moment between an ideological approach to climate change and the laws of physics.
Energy expert
Gentrified mental health has undermined access for the seriously ill
The high costs and limitations of access are unquestionably privileging the privileged.
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
Meet the former Deloitte consultant taking on Allegra Spender
“There’s no doubt it is going to be a challenge,” says Roanne Knox. It’s a sentiment echoed by party insiders who think Wentworth will be the most difficult of all teal seats to win back.
Victorian Labor votes to oppose Future Gas Strategy
The state branch of the party chastised the strategy at its annual conference, labelling it “incompatible” with Australia’s emissions reduction targets and international obligations.
Defence Force ‘ready to fly’ to New Caledonia
Australia is working with French authorities to ensure a quick exit for people seeking to flee strife-torn New Caledonia as soon as the Pacific island nation’s airport is reopened.
Dutton’s immigration cuts would cost ‘billions’: Chalmers
Peter Dutton’s plan to slash immigration to free up housing and ease population pressures would cost billions, Treasurer Jim Chalmers has warned, accusing the opposition of plucking numbers “out of the air”.
- Exclusive
- Industrial relations
Call to change bargaining laws as Sephora ‘sidesteps’ union
The retail union is pushing the government to change bargaining laws to stop employers from secretly sidelining unions to push through deals behind their back.
SPONSORED
World
- Opinion
- China relations
The US-China trade war has helped polarise ASEAN
Regardless of their alignment or dependence on one side or the other, South-East Asian states need to stay focused on their common regional interests.
High Court might rule on Assange extradition
Two judges at the High Court in London are set to rule on whether the court is satisfied by US assurances that Julian Assange, 52, would not face the death penalty.
Gantz tells Netanyahu: come up with a war plan in three weeks
A popular centrist member of Israel’s three-member war cabinet threatens to resign if the government doesn’t adopt a new plan in three weeks for war in Gaza.
Trump pledges to be gun owners’ most ardent ally
The former president accepted the endorsement of the National Rifle Association, claiming that the right to bear arms was “under siege” by the Biden administration.
Biden’s Atlanta trip highlights duel with Trump for black voters
While overwhelming support from black voters was key to Joe Biden’s 2020 victory, there’s concern among his supporters that Donald Trump is making inroads.
Property
Glebe bungalow leapfrogs guide by $1.2m as clearance rates soften
While competition for premium properties remains strong, on-the-fence buyers are stepping back as hopes of a looming rate cut fade.
- Exclusive
- Luxury property
Surgeon hopes to double suburb record with $18m waterfront castle
On Sydney’s Lower North Shore, a regal waterside property has joined the market guiding $18 million.
- Exclusive
- Commercial real estate
Mall war: Kevin Seymour accuses Dexus of anticompetitive conduct
The Rich Lister is accusing Dexus of acting anti-competitively for blocking his proposed Brisbane precinct to protect its own retail asset down the road.
- Exclusive
- Office
Why this $103m office on Sydney CBD fringe sold at no discount
Listed property fund manager Centuria has sold its Biomedical Building to Kurraba Group for $103 million.
Wagga sheep farm of Fraser-era minister Wal Fife listed for $30m
The 2000 hectares Gundary was owned by the late politician until his death in 2017. Mr Fife served in the NSW and federal parliaments for over 35 years.
Wealth
The $150b club: Record number of super rich
The combined net worth of the world’s super-rich club is up 13 per cent this year to $3.3 trillion, according to the Bloomberg Billionaires Index.
‘Window of opportunity’ for graduates to score debt reprieve
An accounting quirk means some graduates can escape the brunt of indexation, but only if they act fast.
- Opinion
- Superannuation
Labor’s ‘double taxation’ in super may not be as steep as you think
A 30 per cent tax rate is unlikely to ever apply to the entirety of annual earnings for people with balances above $3 million.
Technology
Medicare numbers, prescription information taken in MediSecure hack
The government has reassured Australians that no documents need to be replaced as a result of the hack on the little-known technology company.
Online music platform Melodie banks $1m funding
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
Children glued to their phones at meal time face obesity risk
Experts say letting youngsters scroll social media, watch videos or eat in front of the TV is “dangerous” and may be fuelling a growing obesity epidemic.
Work & Careers
Employers back worker ‘choice’ in right to disconnect battle
The Australian Chamber of Commerce and Industry has warned against strict rights to disconnect in awards, saying it could affect enthusiastic staff.
Countries wooing corporate digital nomads hope to make them stay
More countries have introduced a form of digital nomad visa since the pandemic increased demand from employees to “work from anywhere”.
Life & Luxury
‘We don’t know the truth’, says senior CIA officer
Beth Sanner was Donald Trump’s daily intelligence briefer for two years. Few people know the boundaries between secrecy and democracy so well.
Sizzling Schauffele grabs early PGA Championship lead
Not even the two hottest golfers on the planet, world number one Scottie Scheffler and number two Rory McIlroy, could muster a challenge to Xander Schauffele.
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.
This week’s lovely luxuries: chi-chi coffee to divine dog blankets
Plenty to savour here, from stylish kitchen essentials to gifts for friends – furry ones included.
Men paid $760 to lose weight in ‘Game of Stones’ health scheme
A trial of a dieting program in which participants potentially lose money has been so successful that it will be rolled out nationally.