Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
  • Advertisement
    AUDUSD0.6624
    0.0005 (0.08%)0.08%
    SPI 2007,842.00
    -28.00 (-0.36%)-0.36%
    S&P/ASX 2007,811.80
    -36.30 (-0.46%)-0.46%
    All Ords8,083.10
    -35.20 (-0.43%)-0.43%
    NZX 504,489.10
    29.35 (0.66%)0.66%
    Hang Seng18,888.20
    -307.40 (-1.60%)-1.60%
    Nikkei39,103.22
    486.12 (1.26%)1.26%
    View all

    If your business is turning inspiration into innovation, it’s time to be recognised.

    Nominate now

    BHP chairman Ken MacKenzie has overseen an era of dynamic dealmaking.

    BHP sticks to its guns as Anglo American’s resistance softens

    The mining giant says it has “made progress” on assuaging Anglo American’s concerns and is adamant there will be no further change to the value nor the structure of its final offer.

    Bullying allegation at Corrs prompts regulator to get involved

    SafeWork is “making inquiries” into a complaint at the law firm and has requested access to documents, but Corrs says the regulator has no plans to investigate further.

    “The next industrial revolution has begun,” Nvidia’s CEO Jensen Huang said on Thursday.

    Investors bet that Nvidia will leave Magnificent Seven rivals behind

    Another stunning result from the US chipmaker has prompted calls that Nvidia is on its way to becoming the largest company on the planet, leaving the other tech giants in its wake.

    Why Olivia Wirth’s top Myer role is a governance fail

    Myer’s decision to appoint Olivia Wirth as executive chair and CEO has stunned experts but has the full support of Solomon Lew, writes Sue Mitchell.

    The ASX tech giant surging without jumping on gen AI bandwagon

    ASX companies are scrambling to show they too have a generative artificial intelligence halo. But one of our hottest tech stocks is being far more measured. 

    ASX slips as metals rout hits miners; Xero rallies, Nufarm sinks

    Australian shares end lower after US Fed minutes. $A lower. BHP’s shares drop 3 per cent. Gold miners fall. Follow updates here.

    NSW to pay Origin up to $225m a year to keep Eraring open

    Origin will pay the government a fifth of any operating profits up to a maximum of $40 million a year should the plant operate at a profit during the extension period.

    Advertisement

    AFR MINING SUMMIT

    Nicole Duncan, former NickelSearch MD, said smaller miners needed to ride out a rough period with cost cuts.

    Junior miners in ‘survival mode’ put consolidation on back burner

    It is a tale of two worlds in mining as the smaller players cut costs while large miners like BHP eye more acquisitions to grow copper stocks.

    Major lithium miners push for a more reliable spot price

    MinRes and Pilbara Minerals say a trading exchange would reduce volatility and make the battery commodity more attractive to commercial bank financing.

    Sanjiv Manchanda at the Summit.

    Hancock exec says Cook’s California dream may mean higher emissions

    Magnetite projects fit perfectly into Australia’s green future but are hamstrung by insufficient power, water and regulatory fatigue, Sanjiv Manchanda said.

    Lithium giant says China will remain pivotal to local mining projects

    Local miners are torn between their dominant customer and investor over two decades, and the lure of subsidies from the US, Australia’s biggest defence ally.

    King says BHP prioritised shareholder returns over nickel jobs

    The miner has said it will decide whether to close its nickel business by August. The resources minister says there has been a decade of underinvestment.

    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

    ANZ pushes to reverse fine for $2.5b cap raising blunder

    The Federal Court ultimately levelled a $900,000 fine against the financial institution for not informing investors about the shortfall.

    Chief executive Sukhinder Singh Cassidy said the results showed Xero was “doing what we said we’d do”.

    Xero shares surge after profits beat expectations

    Accounting software player Xero beat profit expectations following chief executive Sukhinder Singh Cassidy’s year of “foundational change”.

    Nufarm managing director Greg Hunt.

    Nufarm boss says he wants even playing field, not handouts

    Nufarm chief executive Greg Hunt says other nations treat grain production as a critical industry.

    Anglo knocks back new $73.9b offer from BHP

    BHP and Anglo American are a step closer to a deal after Anglo granted its Australian suitor seven extra days to make an improved offer.

    Optus sued by regulator for breaches in 2022 cyberattack

    The communications regulator has filed a lawsuit in the Federal Court claiming Optus did not protect customers’ information before it was struck by a cyberattack.

    No more ‘go-away’ money as companies take class actions to court

    Corporate Australia will no longer pay “go-away” money to avoid shareholder class actions after plaintiff firms lost five major cases in a row, a trend lawyers said would encourage more boards to fight cases in the courts.

    Blow for Bain and Accolade Wines as growers reject grape deal

    The wine group says the contract has been handicapping it for years in an oversupplied market, as investors in smaller player Australian Vintage brace for bad news.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    • Analysis
    • AI
    Nvidia chief executive Jensen Huang keeps delighting the market.

    Nvidia’s share price is about to plummet, but it’s all part of the plan

    Nvidia boss Jensen Huang knows this is his moment, and he’s capitalising on surging demand for his AI chips and his white-hot shares.

    US Federal Reserve chair Jerome Powell.

    Fed officials rally around ‘higher-for-longer’ rates

    Policymakers noted disappointing readings on inflation over the first quarter, according to the minutes from their April 30-May 1 meeting.

    Wall Street.

    What happened overnight? Fed policymakers spook investors, Nvidia results boost AI outlook

    US equities closed lower, though off their session lows, after the latest Fed minutes pointed to higher rates for still longer. Nvidia reported solid results after New York’s closing bell.

    Morgan Stanley turns more bullish on ASX – here’s how it’s positioned

    The broker has upped its target for the Australian market by another 10 per cent and says with rates staying high for longer, it’s time to rethink bank stocks.

    Traders wrong-footed after RBNZ shocks with rate rise talk

    New Zealand’s central bank kept the cash rate steady at a 15-year high of 5.5 per cent as expected on Wednesday, but surprised the market by pushing out the likely timing of some rate relief.

    Opinion

    The cold war for Australia’s critical minerals future

    Despite signalling Labor’s support for aligning with the US on economic security, Madeleine King is likely to want to keep the Chinese investment spigot open.

    The AFR View

    Editorial

    The AFR View

    Critical mineral miners chase China’s tail

    The sector has welcomed the 10 per cent production tax credits but the big question is where the additional investment to fund growth will come from.

    Bill Shorten’s NDIS spending claims can’t be trusted

    A lack of respect for taxpayers explains the NDIS blowout. Perhaps it’s because almost half of adults pay no net income tax.

    John Kehoe

    Economics editor

    John Kehoe

    Why Webjet wants to let the Ferrari out of the garage

    Breaking up is usually hard to do – but fed-up investors are mad for it. Webjet is jumping on the bandwagon.

    Chanticleer

    Columnist

    Chanticleer

    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.

    The AFR View

    Editorial

    The AFR View

    Why China is reluctant to help consumers spend more

    China’s rulers see cautionary tales in consumer-driven American capitalism. They aspire to build a manufacturing superpower rather than a rich consumer society.

    Yanmei Xie

    Contributor

    Reports

    The future of financial advice

    This special report looks at options to make financial advice more accessible and affordable, including robo-advice, as well as tips for the new financial year.

    Sponsored

      by CommBank
    Advertisement

    Politics

    Opposition Leader Peter Dutton.

    Dutton vows to cut mining approval times, open gas fields

    Federal opposition leader Peter Dutton is in Perth to win back support from the WA mining industry, promising to cut approval times for new projects.

    Unis brace for foreign student cuts of up to 95pc

    Both sides of politics say the reductions are needed to relieve housing pressure and both plans would deliver a huge shock to the $48b industry.

    Origin Energy’s Eraring power station.

    NSW to pay Origin up to $225m a year to keep Eraring open

    Origin will pay the government a fifth of any operating profits up to a maximum of $40 million a year should the plant operate at a profit during the extension period.

    Long-term growth is more vulnerable than it looks

    The rise of anti-science movements pose the greatest economic threats since the industrial revolution, writes a former deputy RBA governor, writes Guy Debelle.

    ‘Please keep going’: Brother’s plea as students end Melbourne protest

    The brother of a slain Palestinian man at the centre of the Melbourne University encampment said the protesters’ “work mean the world to me”.

    SPONSORED

    World

    Drenched Sunak’s gamble to avoid electoral drowning

    On the steps of Downing Street, a rain-soaked Sunak was drowned out by Tony Blair’s victory anthem. It was hard to see past these harbingers of imminent defeat.

    Prime Minister Rishi Sunak, outside 10 Downing Street, announces the July 4 date for the UK general election.

    There is no Blair-mania about UK Labour leader Keir Starmer

    The Conservative government has been a pointless charade for months now. What exactly a Labour government will mean is much less clear.

    PwC is facing a crisis in China as partners brace for penalties over its audit of collapsed property developer Evergrande.

    PwC braces for China crisis and a hefty fine

    PwC’s role in approving accounts for troubled property developer Evergrande has led to infighting at the big four firm as clients reconsider their relationship.

    Macron urges calm in high-stakes New Caledonia visit

    The French president has met political and business leaders in an attempt to ease tensions following days of deadly unrest over electoral reforms.

    British PM Sunak sets July 4 election date

    The election has come much sooner than expected, even though the ruling Conservative Party faces a potential landslide loss.

    Property

    Robert Attallah, who runs Coombs Shoe Service.

    Cobbler counts the cost of fewer feet as CBD economies lose $4.3b

    Cities are getting 370,000 fewer office worker visits every day compared to pre-pandemic, which has led to CBD-based businesses struggling to make ends meet.

    All penthouses in Orchard Piper’s Toorak Village have been sold to locals.

    Locals ‘you would know’ spend $23m on off-the-plan Toorak penthouses

    The sale of the two sub-penthouses in Orchard Piper’s Toorak Village project achieved record rates of $38,000 per square metre.

    How pension funds turned UK student accommodation into a cash cow

    Unlike the shared houses of old, student accommodation is fast becoming the domain of luxury. Underpinning this sea change is a wave of institutional investment.

    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.

    Advertisement

    Wealth

    After June 30 unused contribution limits from the 2019 financial year will expire.

    How to claim a $157,000 tax deduction while turbocharging super

    Anybody who can make extra concessional contributions of this magnitude should seriously consider doing so.

    ‘It’s my money’ attitude leading to illegal super withdrawals

    Early release of super is only supposed to allowed as a last resort. So why are so many people being approved to use it for dental work?

    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?

    Technology

    NIB chief executive Mark Fitzgibbon said tighter regulation was a better approach than an outright ban.

    Replica Ozempic ban could deny thousands ‘life-changing medication’

    Healthcare start-ups say the ban is a step too far and risks leaving tens of thousands of Australians without the medications they need.

    Australian Open champ backs Melbourne composting start-up

    The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.

    ASIC Chairman Joe Longo says Australia’s regulatory framework is inadequate for the emerging AI era.

    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.

    Work & Careers

    Tottenham Hotspur coach Ange Postecoglou, right, and former Socceroos captain Mile Jedinak thanks fans at the MCG on Wednesday night.

    ‘There is no work-life balance’ for Ange Postecoglou

    How does the Tottenham manager balance the Premier League with being a father and husband? He doesn’t.

    What the state of your desk says about your work

    Whether you have a Jane Austen or Bill Gates type ordered desk or a Steve Jobs or Albert Einstein messy desk, might explain the way you think and work.

    Advertisement

    Life & Luxury

    How belly fat can predict our future - and longevity

    We need to be less obsessed with our outward appearance and treat our inner self with the respect it needs and deserves.

    Morning might not be the perfect time to work out.

    Why you might want to skip the morning workout

    A new study appears to show that people who exercise in the evening are 28 per cent less likely to die than morning fitness people. But experts are still divided.

    Charles Hughes, who partook in the Hawaiian Ride for Youth cycling event in March.

    How this geologist got hooked on cycling later in life

    “Join a club!” enthuses Delta Lithium’s Charles Hughes. Then, practise a lot before undertaking an 800-kilometre charity ride.

    The Queen Anne’s inaugural sailing was on May 3, a seven-day round trip from its home port in Southampton.

    Pickleball court breaks the mold of the stuffy luxury liner

    Queen Anne is a litany of firsts for Cunard, including its first designated outdoor yoga space, along with mini golf, a pickleball court and an archery area.

    At $74,760 per runner, is this the world’s most expensive marathon?

    You have to watch out for ice cracks and polar bears, and many run in life vests. But so far, 534 people have completed this mind-boggling race.

    From the gallery