If your business is turning inspiration into innovation, it’s time to be recognised.
Why the latest AI bots are as dangerous as they are impressive
In just two weeks, Microsoft, OpenAI and Google have each previewed AI chatbots that critics say are as dangerous as they are impressive.
Why Australia is falling 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.
How South Korea’s giant pension funds fell prey to $395m NDIS housing scam
The elaborate fraud succeeded by making grand claims, name-dropping Australia’s biggest property players, and was only discovered by chance.
- 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.
- Live
- Markets Live
Shares fall; bond yields rise, NAB, CBA lose ground
Wall St sell-off rattles local capital markets, bond yields lift. Japan inflation cools. Macquarie lifts copper forecasts. Nvidia leaps 9.3pc. Follow here.
- Opinion
- UK election
UK Conservatives on course for the worst result in 100 years
Calling the election is more about saving Tory furniture than victory. And Rishi Sunak wants to call it quits before he breaks records he doesn’t want to hold, writes Michael Turner.
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
Tanarra pushes for change at Bapcor after $100m buy-up
Bapcor, which runs 1100 outlets selling car parts under the Autobarn, Autopro and Burson brands, is in Tanarra Capital’s sights.
Raise bank levy and force AusPost deals, branch closure probe says
The government should build a new publicly owned bank to service regional towns and increase the major bank levy, a Senate inquiry has found.
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 breached 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.
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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
Someone will have to bite the bullet and raise taxes
It’s delusional to think that we can find large new areas to spend money on without the overall cost of government going up. But whoever raises taxes first will have an advantage.
Columnist
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
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.
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Offshore wind plan in ‘Labor limbo’ as Port of Hastings stalls
The state opposition claims Victoria’s offshore wind policy is in “disarray” after Energy Minister Lily D’Ambrosio could not guarantee a key terminal would proceed.
‘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.
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World
- 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.
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.
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
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.
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.
Life & Luxury
$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.
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.
