Top industry leaders discuss how Australia can make the most of mining’s trillion-dollar opportunity.
- Exclusive
- Federal budget
BCA quits big-spending welfare advisory board
The Business Council, representing top 100 CEOs, has left the government’s Economic Inclusion Advisory Committee, arguing it put insufficient priority on workforce participation.
Lendlease chairman to step down at AGM
Michael Ullmer has bowed to investor pressure, confirming he will step down at the company’s shareholder meeting in November.
EY tax advice cost Billabong founder $50m
A Federal Court judge found there were no logical reasons for transactions undertaken by Gordon Merchant, other than to minimise his tax.
‘Hitler’s language’. Biden calls Trump ‘unhinged’ for ‘reich’ post
The US president has seized on a video posted to the Republican’s social media account that referred to a “unified reich” if Donald Trump won a second term.
- Live
- Need to Know
Dutton risking security in ‘mind-boggling’ mining tax cuts opposition: King
The Resources Minister has told the Financial Review Mining Summit that supporting the critical minerals industry is a matter of national security; Passengers arrive in Singapore after turbulence-hit flight. Live updates here.
- Live
- Markets Live
Shares rise; Telstra tumbles, Webjet jumps on demerger plan
Telstra loses 4pc. Lendlease chairman to depart. RBNZ rates decision ahead. Apple extends rally. Crypto jumps. Wilsons says buy Technology One. Follow here.
- Exclusive
- Pubs
Public Hospitality Group’s Jon Adgemis raided by tax authorities
The company, which owns a sprawling portfolio of pubs, has been attempting to refinance its significant loans with Deutsche Bank in a bid to avert collapse.
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Companies
- Exclusive
- Gaming & wagering
Brisbane developer at centre of Star’s Hard Rock mystery
The Florida-based entertainment giant said it had not authorised its name for use, despite Star telling investors it had received a proposal.
Mobile users face price rises as Telstra swings the axe
Customers could be hit with above-inflation price increases for mobile phone plans, as well as higher internet fees, as the telecommunications giant slashes costs.
Better slot access at Sydney might have saved Bonza, says regulator
The ACCC warns that regional travellers risk being left behind by the entrenched duopoly of Qantas and Virgin Australia.
Four executives exit Bunnings amid ‘reshaping’ of top management
Bunnings managing director Mike Schneider has overhauled his top management team, but he says it’s not part of a cost-cutting blitz.
Lenders move on Adgemis’ El Primo Sanchez bar
The move comes amid debt refinancing negotiations led by major lenders to the dealmaker’s hospitality empire.
Billionaire MinRes boss hits back at Dutton
Chris Ellison says tax credits to help build a critical minerals industry that will be around for decades are of high value to Australia, and the Coalition is on the wrong side of history.
Fintechs say they’ll be smashed by credit report rules
Plenti, MoneyMe, Harmoney and Wisr allege major banks are conspiring against them by restricting access to crucial credit file data they use to price loans.
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Markets
VGI founder Robert Luciano pulls millions from Regal-owned funds
The high-profile stock picker has sold stakes in the funds managed by Phil King after registering a new venture last month.
They were paid a fortune while their fund went broke
One of New York’s oldest hedge funds went bankrupt while outperforming the market. The reason: high salaries and bonuses.
Crypto lifted by ether’s biggest jump since 2022 on ETF hope
Social media is alive with speculation that the US regulator may be warming to the idea of an ether exchange-traded fund.
Trillion-dollar fund managers pile money into Asia, emerging markets
Schroders is bullish on European and Japanese equities, and Blackrock has gone overweight on emerging markets for the first time since 2020.
Macquarie says there is a 50pc chance of recession this year
The group’s economist Sophie Photios said the economy was like a “masquerade”, where immigration had masked it going backwards in per person terms.
Opinion
From euphoria to subsidies to kick-start the next great mining hopes
An Australian mining industry more used to being threatened by super-profit tax raids is being offered handouts to kick-start its way into the low carbon era.
Editorial
Gas industry hawks its carbon credentials
Barrow Island and its inhabitants of kangaroos, perentie lizards and rare native fauna is also home to the world’s largest dedicated carbon capture and storage project.
Columnist
Why you can’t argue the $300 energy rebate will lower inflation
Energy bill relief increases real disposable income and boosts aggregate demand. We can debate how far they push inflation, but not that the direction is up.
Economist
Arrest warrants huge blow for Israel and massive gamble by ICC
The question of how the US president responds to this, along with Congress, now becomes critical.
Columnist
Hamas’ defeat, helping Ukraine win, best for West
The sooner Israel defeats Hamas, the better. And also the sooner the US focuses attention on helping Ukraine win the war, the better.
Editorial
Why WA loves the critical minerals budget boost
Peter Dutton’s refusal to endorse Labor’s plan for production tax credits for critical minerals processing and green hydrogen won’t make him popular in must-win seats in Western Australia.
Columnist
Reports
The future of financial advice
This special report looks at options to make financial advice more accessible and affordable, including robo-advice.
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- Exclusive
- Mining Summit
King accuses ‘anti-WA’ Dutton of jeopardising national security
Federal Resources Minister Madeleine King also accuses the opposition leader of stoking class warfare by opposing the government’s production tax credits for miners.
Coalition to bring back tax and spending limits: Taylor
The Coalition will reintroduce speed limits on tax and spending, and implement reform to encourage investment and aspiration.
PM’s refusal to slap down international court ‘tarnishes’ Australia
Jewish groups and Peter Dutton say Anthony Albanese should join the US and condemn the International Criminal Court’s pursuit of Benjamin Netanyahu over war crimes.
Labor premiers leave Miles on his own with Dutton on immigration
Former treasurer Wayne Swan has accused Peter Dutton of “dog whistling on migration”.
Governments ‘should report cost blowouts just like companies do’
State governments should be held to the same reporting standards that ASX-listed companies when it comes to major projects, Marion Terrill says.
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World
56 Australians, eight injured aboard Singapore Airlines jet
The severe turbulence flung passengers and crew around the cabin and forced the plane to land in Bangkok, officials and the airline said.
Trump declines to take the witness stand in hush money trial
Jurors could begin deliberating as soon as next week to decide whether the former president is guilty of 34 felony counts of falsifying business records.
- Analysis
- Iran sanctions
How sanctions played havoc with Iran’s ageing helicopters
The US-made Bell 212 carrying the country’s president and foreign minister was almost 30 years old when it crashed into a mountainside.
First Aussies home from riot-hit New Caledonia after RAAF rescue
French authorities have given permission for evacuation flights to take off and land in Noumea.
PM’s refusal to slap down international court ‘tarnishes’ Australia
Jewish groups and Peter Dutton say Anthony Albanese should join the US and condemn the International Criminal Court’s pursuit of Benjamin Netanyahu over war crimes.
Property
- Exclusive
- Hotels
Collins Street tower to appeal to return-to-office ‘boltholers’
Developer Sterling Global believes corporate high-flyers commuting into town from regional locations on a more regular basis will want a CBD bolthole.
CBA to accept $10k deposits to speed up off-the-plan construction
Commonwealth Bank will allow $10,000 deposits to be viewed as 10 per cent deposits on certain projects to make it easier for developers to get construction financing.
Old guard of US beachfront revolts over first new luxury condos in decades
What’s at stake is a contest to unlock prime waterfront land for extravagant buildings for wealthy newcomers from the US Northeast, Midwest and California.
The top suburbs where home values have bounced out of decline
House prices in some top-end suburbs have bounced back from falls in the previous quarter as demand rises amid lack of stock.
Press ‘go’ on the $20b boom in renewables development
Renewables construction will hit $20 billion annually by 2026/27 as the country races towards ambitious carbon targets and coal-fired power stations close.
Wealth
I’m a risk-taker but he plays it safe. How do we invest as a couple?
Mismatched risk appetite is a common problem in relationships. How can couples get over this hurdle when investing together?
- Opinion
- Managed funds
More zeros than heroes in active funds management
Don’t be fooled by short-term performance data and carefully assess after-fee returns.
- Opinion
- Cash
Why holding too much cash can be harmful to your wealth
As a standalone asset class cash has long underperformed bonds, property, and shares.
Technology
Corporate regulation is not as bland as AI thinks: Longo
ASIC asked a generative AI program to summarise reams of documents as a test. The results were more boring than the originals.
Zip’s Larry Diamond returning to Sydney, says US mission accomplished
Diamond says he heeded warnings from James Gorman, setting Zip onto a profitable path in the US, where he expects BNPL to keep winning share off credit cards.
Scarlett Johansson takes on Sam Altman over ‘eerily’ similar AI voice
The Hollywood actor says she was “shocked” by the use of a voice “eerily similar” to her own in the latest worry for the ChatGPT maker.
Work & Careers
This lawyer left a major firm to work with robots in New York City
Sydney employment lawyer Jess Harvie quit her job at Corrs and gave herself three months to find work in the tech start-up sector in New York City. She hasn’t looked back.
They were paid a fortune while their fund went broke
One of New York’s oldest hedge funds went bankrupt while outperforming the market. The reason: high salaries and bonuses.
Life & Luxury
‘I’ll stay where she’s staying’: Insiders give their top Paris tips
It took some arm twisting, but these four leading Australian hoteliers have revealed where they love to bed down when in the city of light.
Replica Ozempic and Mounjaro will be banned by October
The ruling preserves the status quo of the drug market in a boon to big pharmaceutical firms and a blow to start-ups that are trying to disrupt the sector.
How this Australian went from ski bum to CEO of a Canadian ski resort
The much-loved Big White in British Columbia has been family owned for decades. Third-generation Peter Plimmer had to earn his stripes to take up the mantle.
Bollinger unveils big plans to boost wine tourism
The famous French champagne house will move into luxury oenotourism. You’ll even be able to stay in Madame Bollinger’s grand family house.
Location, location: Discover the most coveted hotel suites in Paris
They all have round-the-clock butlers, only the freshest of geraniums, and champagne on tap. Welcome to the city of love’s six-star offerings.
