Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
  • Advertisement
    AUDUSD0.6606
    -0.0012 (-0.19%)-0.19%
    SPI 2007,759.00
    -83.00 (-1.06%)-1.06%
    S&P/ASX 2007,811.80
    -36.30 (-0.46%)-0.46%
    All Ords8,083.10
    -35.20 (-0.43%)-0.43%
    NZX 504,470.83
    -18.27 (-0.41%)-0.41%
    Hang Seng18,868.71
    -326.89 (-1.70%)-1.70%
    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

    Put more on the table, Anglo investor to BHP

    Fund manager Ninety One, the target company’s seventh-largest shareholder, would like to see a deal, but says BHP isn’t there yet.

    The ASX 200 is set to open sharply lower.

    ASX to drop 1.1pc at open, Wall Street sinks as rate hopes fade

    Australian shares to fall. Strong US manufacturing data sinks stocks, yields, USD rise. Iron ore, oil, gold fall. Nvidia leaps 9.3pc. Follow here.

    Minters picks up seven partners in PwC raid

    MinterEllison is set to hire seven consulting partners from PwC in the largest single raid on the big four consulting firm since the tax leaks scandal.

    Canva, in the US, lifts the lid on its plan to win over Wall Street

    It has hit $US2.3 billion revenue, but growth among individual users is slowing, so Canva is relying on big customers to keep its financials in IPO-shape.

    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.

    Airline boss meets hospitalised Australian

    Australians are among those seriously injured after a Singaporean Airlines flight hit severe turbulence on a flight from London to Singapore. Follow updates live.

    Qld union’s 13pc pay rise may spoil energy relief

    One of the biggest first-year pay rises in the country could add 30 per cent to costs, as Labor rolls out $1300 in household energy relief ahead of the October state election.

    Advertisement

    review

    Anne Stevenson-Yang, third from the left, at the Academy of Building Design in Beijing in 1987.

    China’s curse is to raise hopes and dash them

    In her book “Wild Ride”, an American journalist details her life in China as it opened to the world, then regressed back to an oppressive, inward-looking regime.

    US Federal Reserve chairman Jerome Powell.

    Why the most widely predicted recession was a no-show

    US economists were misled by false signals, including a short banking crisis, an oil-price spike and resilient consumer spending.

    China shipments fell below analyst forecasts in October, but imports overshot estimates.

    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.

    From Lego to McKinsey, bureaucratic managers hurt companies

    Big business executives are allowing themselves to be used to deliver social benefits governments can’t.

    The truth behind the dead internet theory

    Up to half of all internet traffic could be driven by bots, where computer programs generate posts that are liked or reposted by other programs.

    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

    Anglo American’s Mogalakwena platinum mine in South Africa.

    BHP needs to put more on the table, says big Anglo investor

    Fund manager Ninety One, the target company’s seventh-largest shareholder, would like to see a deal, but says BHP isn’t there yet.

    Origin Energy’s Eraring power station.

    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.

    xxxxx

    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.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    James Gorman, chairman of Morgan Stanley.

    Gorman to step down as Morgan Stanley chairman at year-end

    The Australian-born James Gorman has announced he will step down after a 20-year run in which he transformed Morgan Stanley.

    “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.

    Wall Street.

    What happened overnight? Dow hit by Boeing, broad selling even as Nvidia soars

    May purchasing manager data bolsters the Fed’s higher rates for longer stance for now. Boeing drops. Nvidia leaps 9.3pc.

    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.

    Opinion

    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,

    Phillip Coorey

    Political editor

    Phillip Coorey

    ‘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.

    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.

    The AFR View

    Editorial

    The AFR View

    There’s a super-sized hole in the budget. Here’s why

    The forecast bounce in the tax take on superannuation will not happen because we’ve massively overdone the concessions that take from poorer and give to richer Australians.

    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

    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.

    Adrian Wooldridge

    Bloomberg columist

    Adrian Wooldridge

    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

    Treasurer Jim Chalmers.

    ‘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.

    The National Farmers’ Federation has warned proposals to cap migration will exacerbate agriculture’s workforce challenges and there are better ways to address the housing crisis.

    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.

    South Australia is the only state to exempt dentists operating in large medical centres.

    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.

    SPONSORED

    World

    James Gorman, chairman of Morgan Stanley.

    Gorman to step down as Morgan Stanley chairman at year-end

    The Australian-born James Gorman has announced he will step down after a 20-year run in which he transformed Morgan Stanley.

    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.

    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.

    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.

    Property

    The Queensland government is urging developers to build higher density homes.

    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.

    Mark Wizel in conversation with Coles property boss Fiona Mackenzie at the AICC lunch in Melbourne.

    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.

    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

    William Raduchel: “China is run by engineers. The US is run by political lawyers. If you’re on a rocket ship, you’d rather have the engineers running the rocket ship.”

    This tech exec survived the wild startup ’90s. Here’s what he’s learnt

    As senior exec at AOL and Sun, William Raduchel spent 60 years at the forefront of the tech revolution - and once dated Janet Yellen.

    Sukhinder Singh Cassidy has delivered on her rule of 40 goal.

    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. 

    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.

    Work & Careers

    Graeme Currie outside at Weston Park, where he served as head butler for a decade.

    The butler’s role has changed – and seasoned ones can make $190K a year

    Buttling has become a career that involves not only polishing silver and folding napkins but also lifestyle management.

    ‘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.

    Advertisement

    Life & Luxury

    Furiosa (Anya Taylor-Joy), right, with co-pilot Praetorian Jack (Tom Burke).

    Movie review: Furiosa – drives hard but takes too many wrong turns

    George Miller’s latest Mad Max film is bogged down by the gruesome particulars of his post-apocalyptic world – and Chris Hemsworth’s wooden acting.

    The Pagani Huayra Codalunga, or “longtail”. It’s yours for $20 million-plus, if you’re lucky enough to get one.

    What it’s like to drive an $11.5m hypercar in the hills of Emilia-Romagna

    It pays not to think of the cost of Pagani’s Huayra Codalunga when dodging mad Italian motorists on winding roads: it performs like a full-on race car.

    People who rely on voice notes are convinced they solve a problem. For the burned out, they’re a break from looking at screens.

    Why voice notes are having a moment

    They convey more nuance than text but they can be daunting to listen to if they’re too long.

    The Le Petit Chef dining experience is a must when on a Celebrity cruise.

    Is this the cutest restaurant on water? Sea foodies seem to think so

    An energetic and animated chef keeps fine dining lively on the ocean.

    The view over Portugal’s Douro River from Vinum Restaurant at Graham’s Port – an evening extravaganza courtesy of Viking Cruise Line.

    On your next cruise, try a magical night offshore you won’t forget

    Thanks to the growing popularity of cruising, luxury lines are coming up with ever-more exotic excursions on land – especially after sundown.

    From the gallery