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

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    International students are in politicians’ firing line.

    Why universities are headed for a reckoning

    Half the students at Sydney and Melbourne universities are now from overseas. A decade ago, this figure was 25 per cent. But cuts are coming, and for some it’s a matter of survival.

    Bapcor was owned by private equity group Quadrant from 2011 to 2014 before listing on the ASX. It runs the Autobarn, Autopro and Burson brands.

    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.

     Korean investors paid $395 million for specialised facilities as part of the NDIS scheme. It was all a lie.

    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.

    Eraring set to benefit from high electricity prices

    Origin may not need to tap the $225 million compensation fund unveiled by the NSW government this week.

    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.

    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.

    International court has received $50m from taxpayers

    Australia is one of the biggest bankrollers of the International Criminal Court, which wants to arrest Israeli Prime Minister Benjamin Netanyahu.

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    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

    Lithium giant says Chinese partners should have access to tax credits

    IGO’s Ivan Vella says Chinese investors who pioneered Australian critical minerals processing have earned the right to be included in Labor’s incentives.

    The senate inquiry wants banks to pay more taxes to fund new ‘community bank branches’ in remote areas.

    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.

    Mark Swanepoel during his Super Rugby days.

    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.

    ‘Asleep at the wheel’: Appen shareholders vent frustrations

    Long-suffering shareholders of the data service company have delivered a 19 per cent vote against the company’s remuneration report at its AGM on Friday.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    The ASX 200 is set to open sharply lower.

    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.

    The rally in copper prices to record highs haven’t translated to a stronger Aussie dollar yet.

    Rally hits a wall on China growth and US inflation fears

    Worries about China and hotter-than-expected business activity in the United States hit markets on Friday as traders ramped up bets against the $A.

    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.

    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.

    Opinion

    AFR will not walk away from WA

    Political and business leaders in Western Australia say privately that Kerry Stokes has an unhealthy degree of media power in the state.

    Michael Stutchbury

    Editor-in-chief

    Michael Stutchbury

    Cutting migrant intake is a soft target and dead-end strategy

    Reducing migration will just exacerbate the housing shortages it is trying to fix. Higher education will be the collateral damage.

    The AFR View

    Editorial

    The AFR View

    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.

    Laura Tingle

    Columnist

    Laura Tingle

    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

    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

    Kiwis outplay Aussies in monetary policy game

    The New Zealand central bank has given its Australian equivalent a dancing lesson in political independence.

    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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    Politics

    The Electrical Trades Union says industry rates are needed to fix a shortfall of 32,000 electricains by 2030.

    Labor called to mandate industry pay for energy transition

    The Electrical Trades Union wants all federally funded renewable energy projects to mandate industry rates to stop a race to the bottom.

    The building of a port to support the development of a wind farm in Victoria clashed with the protection of Ramsar-listed wetlands.

    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.

    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.

    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.

    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.

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    World

    US Speaker of the House of Representatives Mike Johnson.

    Netanyahu to address US Congress soon: House speaker

    The Israeli prime minister will soon address the US Congress, according to Mike Johnson, amid the ongoing war between Israel and Hamas in the Gaza Strip.

    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.

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

    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.

    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.

    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.

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    Wealth

    AFR

    What to do if you are asset rich but cash poor

    Four strategies to help your assets and savings work harder as the cost of living grows.

    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?

    Technology

    Canva co-founders Cliff Obrecht, Melanie Perkins and Cameron Adams.

    ‘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.

    The most widely known victim of pornographic deepfake images is Taylor Swift.

    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 announced his bid for Twitter on Twitter, later to rename it X.

    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.

    Work & Careers

    Former Ord Minnett director David Wylie is suing to get his $110,000 bonus back.

    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.

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    Life & Luxury

    Effortless chic is “the look” for long-haul travel. But how to achieve it?

    What fashion insiders wear for a long-haul flight

    Flying can be stressful, but you don’t have to look like a white-hot mess. From a chic silk blazer to merino-wool leggings, here are some handy go-to labels.

    $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.

    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 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.

    From the gallery