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China sends warships, jets to ‘punish’ Taiwan
Chinese fighter jets have carried live missiles and warships encircled Taiwan in a show of force to “punish” the self-ruled democracy’s new president.
No time for ‘denial and delay’: PM starts second-term pitch
Anthony Albanese will use his second anniversary in office to urge voters to stick with Labor for another term, rather than vote for the Coalition and return to the era of conflict fatigue.
‘Super-sized hole’ in budget as Treasury revises tax take
Treasury has cut $11 billion from its four-year estimates of revenue from superannuation taxes, as “overly large tax concessions” keep benefiting the richest retirees.
- Analysis
- UK election
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.
Fears Eraring subsidies will need to be extended
Keeping the country’s biggest coal-fired power station open until 2027 has raised questions about whether it will be needed to keep the lights on into the 2030s.
- Opinion
- Canberra Observed
Both sides are pushing buttons on migration. But one is being more subtle
Migration long ago became a lazy method, adopted by both sides of politics, to generate growth in the absence of any reform or productivity agenda, writes Phillip Coorey.
New tax hit could push up cost of your dentist visit
Patients accessing dental services in large medical clinics around the country face possible price hikes from new payroll tax liabilities being imposed by state governments.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
review
- Analysis
- Australian economy
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.
- Opinion
- Leadership lessons
From Lego to McKinsey, bureaucratic managers hurt companies
Big business executives are allowing themselves to be used to deliver social benefits governments can’t deliver.
Supersized profits: how McDonald’s beat the health-food movement
The 2004 movie ‘Super Size Me’ lead to a backlash against McDonald’s. Twenty years on, the stock is up almost 1000 per cent.
- Opinion
- US election
Seven theories of why Biden is losing
The US president is running like he’s winning, which he isn’t. From his age to economic management, voters are turning off the Democrats’ nominee.
How one of the world’s oldest hedge funds went bankrupt
Weiss Multi-Strategy Advisers, one of New York’s oldest hedge funds, went bankrupt while outperforming the market. The reason: high salaries and bonuses.
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Companies
Fears Eraring subsidies will need to be extended
Keeping the country’s biggest coal-fired power station open until 2027 has raised questions about whether it will be needed to keep the lights on into the 2030s.
BHP sticks to its guns as Anglo’s resistance softens
BHP says it has “made progress” on assuaging Anglo American directors’ concerns about the substance of its $75 billion takeover bid. BHP now has until May 29 to lob a binding offer.
Bank users face extra $370m in fees to keep rural branches open
The costings come as a Senate probe into the impact of branch closures on regional communities prepares to report on Friday.
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.
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.
Coles property boss says building woes could force up grocery prices
Coles property boss Fiona Mackenzie says not being able to deliver new supermarkets as planned could force up the prices of grocery items.
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
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.
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”.
Virgin Money shareholders back $5.5b Nationwide takeover
Britain’s sixth-biggest bank, which is half-owned by Australian shareholders, will now exit the ASX and London Stock Exchange.
Ausbil is using this underrated stock to play the AI boom
Nicholas Condoleon talks AI, explains why he is avoiding Westpac and BHP, and reveals his stock picks to capitalise on the run in gold and copper prices.
- Analysis
- AI
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.
Opinion
What will fill the Tory-shaped hole in British politics?
Just as in Anthony Albanese’s blue-collar rhetoric, Brexit has pushed Keir Starmer’s Labour away from Tony Blair’s post-class modernisation and globalism.
Editorial
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.
Editorial
Both sides are pushing buttons on migration, one is being more subtle
Migration long ago became a lazy method, adopted by both sides of politics, to generate growth in the absence of any reform or productivity agenda,
Political editor
There is no Blair-mania about UK Labour leader Keir Starmer
The Conservative government – now on its fifth prime minister since 2010 – has been a pointless charade for months now. What exactly a Labour government will mean is much less clear.
Bloomberg columist
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 corporate governance experts but has the full support of Solomon Lew.
Columnist
Why NSW still needs coal-fired power
The total disarray of energy transition plans is compounded by the failure of NSW and Victoria to allow any further development of gas fields.
Columnist
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 CommBankPolitics
‘Super-sized hole’ in budget as Treasury revises tax take
Treasury has cut $11 billion from its four-year estimates of revenue from superannuation taxes, as “overly large tax concessions” keep benefiting the richest retirees.
Labor and Coalition warned against ‘quick fix’ immigration cuts
The Coalition will have to cut visa places for health, education, aged care and tourism sectors as part of efforts to slash overseas arrivals.
New tax hit could push up cost of your dentist visit
Patients accessing dental services in large medical clinics around the country face possible price hikes from new payroll tax liabilities being imposed by state governments.
Dutton’s plan to let international students work more could backfire
Experts say Peter Dutton’s promise to allow overseas students to work 30 hours a week would trigger a fresh wave of visa abuse.
Fears Eraring subsidies will need to be extended
Keeping the country’s biggest coal-fired power station open until 2027 has raised questions about whether it will be needed to keep the lights on into the 2030s.
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World
- Analysis
- China relations
More China ‘punishment’, but Taiwanese have seen it all before
In the streets of Taipei, people appeared sanguine as they went about their daily lives, but then the Taiwanese are used to looming threats from their gigantic neighbour.
Trump taps Texas oil tycoons in bid to close the cash gap with Biden
The former president, whose campaigning has been restricted by his criminal trial in New York, has attended fundraisers in Houston and Dallas.
- Analysis
- UK election
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.
- Opinion
- UK 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 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.
Property
- Exclusive
- South-east Queensland
Miles gives in to councils with $350m bid to fast-track housing
The Queensland premier will unveil a new fund to fast-track housing development in urban areas across the state, incentivising developers to transform industrial zones and low-density suburbs.
Coles property boss says building woes could force up grocery prices
Coles property boss Fiona Mackenzie says not being able to deliver new supermarkets as planned could force up the prices of grocery items.
Home buyers pay up to 53pc more for a ‘green’ home
Properties with eco-friendly attributes such as solar and double glazing are selling faster for more, according to Domain.
Property fund manager’s stock pops as it says goodbye to Europe
In a transformational deal, long struggling Cromwell has sold out of its European exposures, sending its stock surging as investors welcomed the move.
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.
Wealth
- Opinion
- Superannuation
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.
- Opinion
- Superannuation
‘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
- Opinion
- Chanticleer
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.
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.
Work & Careers
‘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.
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.
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.
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.
A Michelin-star chef and pickleball - after 184 years, Cunard pivots
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.