If your business is turning inspiration into innovation, it’s time to be recognised.
Why we’re behind the world in building houses
The nation is building thousands fewer homes than other countries, with Victoria and NSW experiencing the longest development approval delays.
- Analysis
- UK election
‘Pick me, I’m duller’: the election pitch to win over UK voters
What Rishi Sunak and his opposite number, Labour’s Keir Starmer, will be selling over the next six weeks is the promise of sobriety and stability.
- Exclusive
- Start-ups
‘If you don’t like it, get a job at a bank’: Canva boss
The design software giant’s all-singing, all-dancing debut event in Los Angeles came with a host of new features – and rumblings of a cost to its tired staff.
- Opinion
- Interest rates
Kiwis outplay Aussies in monetary policy game
The New Zealand central bank has given its Australian equivalent a dancing lesson in political independence, writes Christopher Joye.
Ord Minnett sued for sacking ‘recklessly dishonest’ director
Broking director David Wylie was fired for allegedly making up that the Ord Minnett’s senior leadership expected him to sell his house to pay the firm’s ASIC penalty.
- Live
- Markets Live
Shares fall; bond yields rise, NAB, CBA lose ground
Traders sell shares as bond yields lift. Japan inflation cools. Strong US manufacturing data sinks Wall St, lifts USD. Macquarie lifts copper forecasts. Nvidia leaps 9.3pc. Follow here.
- Live
- Need to Know
China warplanes conduct second day of drills off Taiwan
Taiwan is tracking dozens of Chinese warplanes and navy vessels off its coast. Follow updates live.
Rally hits a wall | Canva’s Wall St plan | Four market worries
review
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.
- Opinion
- Global economy
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.
- 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.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Man behind $395m NDIS investment fraud gets 12 years in prison
The verdict brings to an end a criminal matter in which the former property developer used fake documentation to secure financing from Korean pension funds.
Di Pilla’s HMC buys Payton Capital in $5b private credit push
HMC has appointed the former head of Macquarie’s US principal finance business in New York to run the new strategy.
You’re no Afterpay: judge finds payday loans breach law
The findings against the lending scheme, which involved a former Super Rugby player, came despite claims of similarity to buy now, pay later operations.
Why Bendigo Bank shares are up sharply this month
Bendigo’s senior management briefed analysts and investors on a new four-year strategy, which includes a new lending platform and push into business lending.
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.
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.
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Markets
Market rally hits a wall on China growth and US inflation fears
Worries about China and hotter-than-expected business activity in the United States have ended a record-breaking rally in equities and commodities markets.
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.
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.
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”.
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,
Political editor
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
Kiwis outplay Aussies in monetary policy game
The New Zealand central bank has given its Australian equivalent a dancing lesson in political independence.
Columnist
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.
Economist
Who’s in more trouble: Israel or Iran?
Middle East conflict is making Iran’s clerical regime seem ever more fragile, and Israel’s sense of nationhood even stronger.
Contributor
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
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.
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.
- Exclusive
- Industrial relations
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.
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.
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World
China steps up war games around Taiwan to ‘seize power’
Beijing’s military released a video of missiles being launched at Taiwan from the ground, air and sea, which then slam into the island’s cities in balls of flame.
Harvard graduates walk out of ceremony in Palestine protest
Anger at the Ivy League university’s decision to bar seniors from a graduation ceremony over pro-Palestine demonstrations on campus boiled over.
US sues to break up Ticketmaster’s ‘suffocating’ monopoly
The antitrust lawsuit launched by the Justice Department alleges the group has used its dominance to exploit fans and performing artists and threatening its rivals.
Sunak stumbles on Rwanda migrant plan as campaign kicks off
The prime minister conceded he cannot introduce promised signature policies on deporting asylum seekers before the July 4 election, as campaigning got under way.
- 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, writes Jessica Sier.
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.
- Exclusive
- Luxury property
Rich Lister behind Lego movies buys $12m Byron digs
Animal Logic co-founder Zareh Nalbandian has paid $12 million for a Byron escape after selling his animation studio to streaming giant Netflix.
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.
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
Tech industry pushed to shut down market for sexual AI deepfakes
Joe Biden is pushing the tech industry and financial institutions to shut down a market of sexual images, many of celebrities, made with AI technology.
Elon Musk’s X accountable for hate speech posts in Australia: ruling
The Queensland Civil and Administrative Tribunal has rejected the platform formerly called Twitter’s argument that it should not be held responsible for anti-Muslim posts here because it is US-based.
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
Aussies aren’t all Bondi Beach fit, Ozempic’s new local exec has just realised
Novo Nordisk Oceania managing director Cem Ozenc mourns the fact Australia’s obesity challenge is lost amid the celebrity hype surrounding the medication.
‘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.
Life & Luxury
A pasta with flavour-bomb of XO that not many know about
Ellie Bouhadana, formerly head chef at Melbourne’s Hope St Radio, shares her secret sauce for pasta.
Think you know this week’s news? Answer these 10 questions
Have you been paying attention this week? Test your knowledge across politics, business and world news.
On your next cruise, try a magical night onshore 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.
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.
- Driving With Tony Davis
- Motoring
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.
