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    Iranian president Ebrahim Raisi (left) and foreign minister Hossein Amirabdollahian. They were in a helictoper that has crashed in moun mountainous.

    Iran’s president feared dead as crashed helicopter found

    Rescuers have found the crashed helicopter carrying President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian, state media reported.

    Star’s Sydney casino in Pyrmont is in the spotlight as Adam Bell, SC, considers whether the company should be given its gaming licence back.

    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.

    Iran’s President Ebrahim Raisi.

    Iranian president’s helicopter ‘completely burned in crash’: official

    Iranian state TV says ‘no sign of life’ at crash site; Liberals call for Diddy ban; Dutton accused of having ‘a vibe’, not policies. Follow updates 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.

    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?

    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.

    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.

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    MONDAY MEDIA

    Rick Baker, co-founding partner at Blackbird Ventures, laid out his issues with media coverage of the tech sector.

    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.

    Across print and digital, the Financial Review had 3.5 million readers in March.

    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.

    The duo have signed a $200 million deal to stay on the air together for another 10 years.

    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.

    Features include the ability to save articles, dark mode and real time notifications.

    Get the latest business news on the go with the AFR’s new iOS app.

    Find out more

    Companies

    Farmers sold off livestock in a rush on the BOM forecast of an El Nino event.

    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.

    Results at Nuix under Jonathan Rubinsztein are improving, the company told the market.

    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.

    Hard Rock operates dozens of venues around the world, including several large casinos such as The Mirage in Las Vegas.

    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.

    The ATO also has outstanding debts with eReports.

    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.

    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

    Pedestrians in Hong Kong’s Tsim Sha Tsui. Consumer and technology groups listed in the city are trading at a big discount, some fund managers say.

    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.

    Bronte Capital co-founder and chief investment officer John Hempton in his Bondi Junction office. About half the books on his bookshelf recount frauds.

    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.

    Tribeca’s Jun Bei Liu.

    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.

    The AFR View

    Editorial

    The AFR View

    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.

    Phillip Coorey

    Political editor

    Phillip Coorey

    Penny Wong must speak up on New Caledonia

    It’s time for Australia’s foreign minister to act as the honest friend and tell France that they are mishandling their Pacific territory.

    Hamish McDonald

    Commentator

    Hamish McDonald

    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.

    Jessica Gardner

    Deputy editor - News

    Jessica Gardner

    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.

    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.

    Matthew Warren

    Energy expert

    Matthew Warren

    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 CommBank
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    Politics

    WA Premier Roger Cook.

    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.

    Anthony Albanese’s rating a preferred prime minister fell 2 points to 45 per cent while Peter Dutton’s was up a point to 39 per cent.

    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.

    Peter Coaldrake says university governing bodies need to be tougher on their vice-chancellors.

    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

    Taiwan’s new President Lai Ching-te, centre, Vice President Hsiao Bi-khim, right, and former president Tsai Ing-wen wave during Lai’s inauguration ceremonies in Taipei.

    Taiwan’s new president likely to bolster island’s US ties

    Lai Ching-te will build on his predecessor’s efforts to strengthen ties with the US, which is bound by its own laws to provide the island with the means to defend itself.

    Iranians walk past a mural of the late Ayatollah Khomeini at an anti-Israel gathering in Tehran.

    Helicopter crash could send shockwaves across Middle East

    Iran has spent decades supporting armed groups in Lebanon, Syria, Iraq, Yemen and the Palestinian territories.

    Prime Minister Benjamin Netanyahu, Defence Minister Yoav Galant and Cabinet Minister Benny Gantz at a news conference.

    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.

    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.

    Property

    The Biomedical Building has sold $103 million, which was no discount to its book value.

    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.

    Premium properties are being hotly contested in Sydney’s inner west.

    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.

    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.

    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.

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    Wealth

    Australian Retirement Trust’s head of retirement Kathy Vincent and head of advice Anne Fuchs are overseeing significant staffing and technological changes as they prepare for new laws to take force.

    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.

    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

    Sircel CEO Anthony Karam, says the acquisition of Scipher will leave his company in a dominant position in the local e-waste recycling market.

    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 were taken as part of the hack, but they cannot be used to prove someone’s identity.

    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

    ACCI says “flexibility and choice” must be core to the right to disconnect.

    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.

    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.

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    Life & Luxury

    What five common sweeteners are really doing to your body

    New research has revived fears about whether sweeteners cause health problems.

    Les Trois Vallées in the Savoie region of France has almost 600 kilometres of skiable terrain.

    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.

    Capella Tufu Bay in Hainan has 190 spacious rooms.

    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.

    The Eastern & Oriental Express passes through the landscapes of Malaysia.

    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.

    1984 Peaches ’N Cream Barbie. Barbie, the Design Museum, London.

    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.

    From the gallery