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

    Nominate now

    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.

    Federal Treasurer Jim Chalmers: A future treasurer will have to look beyond comparisons with the opposition.

    Someone will have to bite the bullet and just 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, writes Laura Tingle.

    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.

    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.

    Bird flu on the march, experts warn

    More than 400,000 chickens were slaughtered in Victoria this week and experts say Australia will be lucky to avoid the more virulent version of avian flu.

    Top UN court orders Israel to stop Rafah operation

    Israel is unlikely to comply with the order from the International Court of Justice, but the ruling adds more pressure to Prime Minister Benjamin Netanyahu.

    Ray Dalio joins billionaires snapping up historic Singapore houses

    The Bridgewater Associates founder’s family office has bought two heritage ‘shophouse’ properties for about $28.6 million

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    review

    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.

    Legoland Malaysia in 2013: In the 1990s, the Lego Group diversified into clothes, watches, publications, TV and theme parks.

    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.

    Supersized profits: how McDonald’s beat the health-food movement

    The 2004 movie ‘Super Size Me’ lead to a backlash against McDonald’s. Twenty years on, the stock is up almost 1000 per cent.

    smart investor

    There are 635,000 rich Australians, representing around 2.5 per cent of the total population.

    There are 635,000 rich Australians. Are you one of them?

    Once, being a millionaire made you wealthy. But the goal posts have shifted, and a two-storey house with in-ground pool doesn’t really cut it any more.

    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.

    Adrian Orr, governor of the Reserve Bank of New Zealand.

    Kiwis outplay Aussies in monetary policy game

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

    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.

    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?

    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

    Bendigo Bank has a new marketing campaign painting it as a big bank, but more attentive to customers.

    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.

    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.

    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.

    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.

    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.

    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.

    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.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    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.

    David Di Pilla says the growth opportunity in private credit is “too big to ignore”.

    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.

    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.

    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.

    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

    The republican crown needs a new head: who will step up?

    The Australian Republican Movement throne need not be empty for long considering this shining array of talent.

    Rowan Dean

    Satirist

    Rowan Dean

    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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      by CommBank
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    Politics

    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.

    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.

    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

    Germany’s export-driven economy would have much to lose from an escalation of trade tensions and its Finance Minister Christian Lindner told reporters that “trade wars are all about losing, you can’t win them”.

    European G7 ministers warn over China trade war risks

    Finance ministers from Germany, France and hosts Italy all called for a common front against China’s growing export strength.

    An Israeli soldier directs a tank near the border with the southern part of the Gaza Strip.

    Top UN court orders Israel to stop Rafah operation

    Israel is unlikely to comply with the order from the International Court of Justice, but the ruling adds more pressure to Prime Minister Benjamin Netanyahu.

    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.

    International court has received $50m from Australian taxpayers

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

    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.

    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.

    Melissa and Steve Rosich.

    Racing heavyweight lists $5.3m penthouse with three terraces

    Steve Rosich, who resigned as CEO of the Victorian Racing Club, is selling his Toorak penthouse, while former David Jones CEO Mark McInnes has completed his mansion upgrade nearby.

    Australia ranks 23rd out of 33 developed countries for the number of dwellings per 1000 people, according to figures from the OECD.

    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.

    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.

    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.

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    Wealth

    Being the trustee of your own fund does not put you above the law.

    ‘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?

    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.

    Technology

    Appen chief executive Ryan Kolln.

    ‘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.

    American chatbots: oversexed, overhyped and over here

    In just two weeks, Microsoft, OpenAI and Google have each previewed AI chatbots that critics say are as dangerous as they are impressive.

    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.

    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.

    Handpicked Wines boss William Dong with Sydney Symphony Orchestra members Alexandra Osborne  and Tim Nankervis at the Handpicked Cellar Door in Chippendale, Sydney.

    Six ways to stay entertained for those staying home this winter

    Not everyone is travelling abroad for the northern hemisphere summer. Cosy up in Australia on a rail trip with Journey Beyond, or indulge at The Victoria & Albert Guesthouse in the Blue Mountains.

    A cruise around Antarctica provides time to soak up the beauty – and the ethereal silence.

    How my cynicism gave way to tears of relief in Antarctica

    It seems the Great White Continent has the power to “break open” even the toughest corporate warrior.

    Reese Witherspoon’s entry into the book business started with her frustration over the film industry’s skimpy representation of women on screen.

    How Reese Witherspoon built a multimillion-dollar empire on books

    The businesswoman’s book club may not make money from sales, but it offers an opportunity to option stories that can be turned into TV shows by her production company.

    $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.

    From the gallery