If your business is turning inspiration into innovation, it’s time to be recognised.
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.
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.
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.
- Exclusive
- Israeli-Palestinian conflict
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.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
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
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.
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.
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
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Markets
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.
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.
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.
Editor-in-chief
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.
Editorial
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
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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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.
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.
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World
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.
- 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.
- 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.
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
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.
- 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?
Technology
- 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.
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.
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
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.
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.
