Star shares surge after casino confirms Hard Rock interest
The company has “received inbound interest” from several parties even as it faces the loss of its lucrative Sydney gaming licence.
- Live
- Markets Live
ASX rises as miners jump; Nuix soars, Michael Hill slumps 20pc
Australian shares move within 50 points of record close. China leaves rates on hold. Copper and gold at record highs. Follow updates here.
- Opinion
- Chanticleer
The $64b question at the heart of Mike Henry’s biggest test
Key BHP investors including AFIC are supportive of the mining giant lifting its bid for Anglo American. But the question is: how much?
- Live
- Need to Know
Rescue teams arrive at site of ‘heat source’ linked to crashed chopper
Iranian media confirms Turkey’s discovery; Liberals call for Sean ‘Diddy’ Combs ban; Dutton accused of having ‘a vibe’, not policies. Follow updates live.
Loss-making companies are surging on the ASX, baffling analysts
Goldman Sachs is perplexed about the surge in unprofitable stocks, and says there are safer alternatives like retailers Lovisa and Cettire.
Helicopter carrying Iran’s hard-line president crashes
Rescuers are trying to find the helicopter on which President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian were travelling, state media reported.
Adamantem Capital doubles down on Environmental Opportunities Fund
Edge Zero, led by former Energy Australia boss Richard McIndoe, is on track to deliver $15 million to $20 million EBITDA in the 2025 financial year.
Star rallies | BHP CEO’s $64b question | Iran’s president missing
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.
Financial Review print and digital readership jumps
The Australian Financial Review has grown its print and digital readership for the year, while its News Corp rival The Australian went backwards.
- 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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Elders plunges to worst result in 10 years on wayward BOM forecast
Farmers sold livestock and cut orders for farm chemicals based on the weather bureau’s prediction of an El Nino hot and dry period, which did not eventuate.
Nuix shares jump after smashing guidance
The company is primed to beat its full-year forecast for fiscal 2024 after signing a multi-year contract with an undisclosed software customer.
- Exclusive
- Casinos
Hard Rock Cafe pitches Star rescue plan
The Florida entertainment giant is considering taking control of Star Entertainment with a proposal that would inject more capital into the struggling gaming group.
- Exclusive
- Insolvency
Doctors owed millions in collapse of service provider
The Melbourne-headquartered eReports allegedly failed to disclose $7.2 million owed to more than 400 specialists before calling in administrators.
- Analysis
- Mining
Inside Anglo American’s rushed break-up plan
Some of the most senior executives at Anglo American were caught off-guard by Duncan Wanblad’s spectacular break-up plan. Even the CEO himself.
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.
AusSuper sets sights on becoming a global force in critical minerals
Australia’s largest industry super fund will step up its investment in battery metal lithium as it seeks to grow its $12 billion critical minerals fund.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Australian investors snag Hong Kong bargains as share prices surge
Fund managers see opportunities, with Chinese authorities promising measures to stop a long-term outflow of money from one of Asia’s biggest sharemarkets.
- Exclusive
- Monday fundie
John Hempton laments return of meme machine Roaring Kitty
Before being hit by last week’s meme-stock rally triggered by an online stock promoter, Sydney hedge fund manager John Hempton was having a great year.
- 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¢.
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
Two massive things happened while we were watching the budget
Two big overseas developments will be much more crucial in determining our economic prosperity than last week’s budget. The first is Beijing finally taking steps to address the bursting of the country’s property bubble.
Columnist
Reports
The future of financial advice
This special report looks at options to make financial advice more accessible and affordable, including robo-advice.
Sponsored
by CommBankPolitics
- Exclusive
- Mining summit
Cook says magnetite will make WA the ‘California of Australia’
WA’s future in resources wasn’t just linked to battery minerals, but also to a different variety of iron ore largely overlooked by our mining industry: magnetite.
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.
- Exclusive
- University
Failure to rein in uni bosses led to problems of ‘excess’
Peter Coaldrake has been deeply involved in the university sector for five decades, the past four years as head regulator. And he is troubled by what is going on.
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.
SPONSORED
World
Helicopter crash could send shockwaves across Middle East
Iran has spent decades supporting armed groups in Lebanon, Syria, Iraq, Yemen and the Palestinian territories.
- Analysis
- Israeli-Palestinian conflict
Why wily Netanyahu will escape new crisis
Two members of Israel’s war cabinet have warned the prime minister to change course on the war in Gaza, but he is unlikely to flinch.
‘Executioner’: Iran’s president with a vice-like grip on power
Ebrahim Raisi has been seen as a possible successor to Ayatollah Ali Khamenei as supreme leader, the highest political and religious position in the Islamic republic.
- Opinion
- East Asia Forum
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.
Property
- 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.
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.
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
Super funds spend big ahead of advice reforms
As the legislation enabling them to give more financial advice languishes in Canberra, funds are moving ahead with plans to implement it anyway.
- Opinion
- Pathology
This routine health test is an investment opportunity
The share prices of pathology companies are below pre-pandemic levels and the world will need more blood tests.
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.
Technology
- Exclusive
- Mergers & acquisitions
Government-backed green tech firm goes broke, gets acquired for $5m
Scipher Technologies, an e-waste processor that the government invested $15 million in, has been bought for $5 million after it entered administration in March.
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.
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.
- Exclusive
- University
Failure to rein in uni bosses led to problems of ‘excess’
Peter Coaldrake has been deeply involved in the university sector for five decades, the past four years as head regulator. And he is troubled by what is going on.
Life & Luxury
A ski pass for seven resorts for $619? France trumps the US on price
Ski Méribel once, and you’ll be hooked on Les Trois Vallées – especially as the region is cheaper than most American resorts.
Where to find the best five-star luxury hotel deals
So you’ve splashed out on airfares, but you still have to book the accommodation for your next holiday. Here’s how to get the most bang from your remaining bucks.
How LVMH exhumed luxury rail with the Eastern & Oriental Express
The venerable company has returned with a renewed sense of purpose after a refresh and a rethink, but the focus is still on timeless elegance and luxuriously slow travel.
From Barbie to Warhol, the must-visit major cultural exhibitions
Toting a briefcase around the world’s financial capitals can be exhausting. Galleries and museums offer a sanctuary and stimulation for the business traveller.
‘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.
