Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
  • Advertisement
    AUDUSD0.6641
    0.0019 (0.28%)0.28%
    SPI 2007,819.00
    1.00 (0.01%)0.01%
    S&P/ASX 2007,788.30
    60.70 (0.79%)0.79%
    All Ords8,058.60
    59.40 (0.74%)0.74%
    NZX 504,468.58
    -10.41 (-0.23%)-0.23%
    Hang Seng18,827.35
    218.41 (1.17%)1.17%
    Nikkei38,900.02
    253.91 (0.66%)0.66%
    View all

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

    Nominate now

    Lendlease chief executive Tony Lombardo has been forced into a strategic reckoning.

    The two forces driving Lendlease to tear itself apart

    For 66 years, Lendlease has been an icon of Australian business. But its global ambitions lie in tatters after a reckoning that’s been coming for decades.

    Stevens Construction undertook numerous projects for Woolworths including this $27m project at Crows Nest on Sydney’s Lower North Shore.

    Central Coast builder for Woolies and Singo collapses

    Stevens Construction built a number of supermarkets and malls for Woolworths and also completed residential projects for John Singleton.

    Profit downgrades are reminding investors that conditions are tricky.

    The indicator that has Macquarie fearing a ‘downgrade cluster’

    Confession season has been quiet this year, but that doesn’t mean investors shouldn’t be looking over their shoulders.

    Fifty cents for Qld trains, buses – but they’re still ‘old and slow’

    The Queensland Labor government’s slashing of public transport costs has been welcomed, but an advocacy warned of major network issues failing passengers.

    Australia among biggest losers if US-China trade war flares

    Australia would suffer a $30 billion income hit – the second-largest fall in the world – if tensions worsen and countries try to manufacture more at home, the OECD says.

    Nine to investigate television newsroom culture after Wick exit

    The media group’s leadership team held a crisis meeting last week to discuss the situation, and the company’s board is also expected to meet this week.

    RBA can still cut this year, says Fitch – traders aren’t so sure

    The ratings house view is increasingly at odds with traders, which have pushed pricing for the Reserve Bank’s first rate cut beyond June 2025.

    Advertisement

    MONDAY MEDIA

    Netflix shares have jumped by 45 per cent since May.

    Netflix shifts 92pc of $1.1b Australian revenue offshore

    The streaming giant behind Bridgerton, Stranger Things and Heartbreak High paid its overseas affiliates most of its Australian revenue in 2023.

    News Corp Australia’s headquarters in Surry Hills, Sydney. The company has been working on budget planning this month.

    Winners and losers emerge as News Corp’s major restructure takes shape

    Nicholas Gray appears to have prevailed over Edwina McCann, the influential editor-in-chief of Vogue Australia who had been elevated to be editorial director of News Prestige

    Striking the balance: Senators are furious about changes to Australia’s anti-siphoning laws. But sports administrators are wary.

    Labor’s controversial sports broadcast plans heading for Senate fracas

    The government’s proposal, which would allow big streamers like Netflix to bid against free, local platforms, is “un-Australian”, according to the Greens.

    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.

    Could US Ticketmaster case spell the end of extra fees?

    A Biden administration effort to rein in entertainment giant Live Nation might encourage ticketing competition in Australia.

    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

    Yuxiao’s Wu Tao (left) signing a co-operation agreement with the leaders of China Northern and Shenghe Resources.

    China-linked entity ousts WA rare earths boss

    Northern Minerals’ new executive chairman said the resignation of Nick Curtis created an “alignment” between shareholders and the board. 

    Lendlease seals truce with activists in radical reset

    The property giant expects its new strategy to free up $4.5 billion of capital and will sweeten the deal with a $500 million share buyback.

    The consortium claimed Hard Rock International was fully aware of its proposal.

    Star Entertainment suitor claims it kept Hard Rock in the loop

    Two firms – HDI-BB and Hotel Development International – confirmed on Monday that they approached Star in March with a turnaround strategy.

    Paul Anderson, who was CEO of Ten Network from 2015 to 2020, has hit the “sell” button on the Lumus Imaging business, which operates from 150 sites.

    Healius to sell $650m X-ray and ultrasound division after UBS review

    The struggling pathology company told investors it had engaged advisers to sell Lumus Imaging as it focuses on reinvigorating its core pathology business.

    Accolade Wines ends merger talks, Australian Vintage to raise capital

    Shares in the owner of McGuigan and Tempus Two wine brands have been suspended as debt levels rise to dangerous levels, with a potential back-door listing of Australia’s No.2 player, Accolade off the table for now.

    Optus loses appeal to keep Deloitte report on cyberattack secret

    The decision means information in a report commissioned by Optus into the causes of its 2022 cyberattack will be given to a class action law firm.

    Lendlease to end global ambitions and put $4b in assets on the market

    Lendlease will end all international property development and sell its overseas construction divisions, marking the biggest shake-up at one of Australia’s largest real estate groups in 20 years.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    The Australian dollar is up 2 per cent this month.

    $A bulls face disappointment on long road to pandemic high

    Traders hoping the Australian dollar will strengthen may be caught out as optimism over China’s rebound fades and the local economy falters.

    The ASX is poised to open higher.

    ASX climbs; Cettire, Lendlease shares jump

    Sharemarket rebounds from Friday’s slump. Cettire hits back at counterfeit allegations. Neuren Pharma rallies after trial results, Megaport chairman offloads more shares. Follow for more

    Gains in US tech stocks like Nvidia have propelled returns far ahead the ASX in the last 18 months.

    Fund abandons ASX mandate to jump on US tech rally

    Nathan Bell is upping his allocation to US stocks, saying the current price for some quality names on the ASX had reached “ridiculous” levels.

    Commodities on cusp of ‘super-bull’ rally after traders cash in

    Investors have taken profits following a powerful rally in copper and gold prices, but strategists believe the correction will be short-lived.

    Bond returns are back and Pimco is ‘excited’

    The $2.9 trillion fund manager is buying up Australian government bonds, among other things, betting that the Reserve Bank will need to cut rates less than the Fed. They are also wagering on the US housing market and consumer.

    Opinion

    Why Dutton risks losing WA sentiment

    Peter Dutton’s rejection of production tax credits for critical minerals processing is risking support in several must-win seats in Western Australia.

    ICC loses its moral bearings over Israel and Gaza

    An each-way bet on the ICC’s war crimes charges against Israel adds to the incoherence of Labor’s position amid a fraying of the social fabric of multicultural Australia.

    The AFR View

    Editorial

    The AFR View

    We must protect Australia’s free and open economy

    Australia prospered in an open postwar world economy. But a new generation has less faith in it.

    Craig Emerson

    Former Labor minister and economist

    Craig Emerson

    The humble email sign-off is not what it used to be

    It is not exactly clear when the sign-off turned into yet another tool in the arsenal of self-promotion deployed in so much of modern corporate life, but I do not see it fading any time soon.

    Pilita Clark

    Columnist

    Pilita Clark

    Failure to deliver green pipeline is keeping Eraring open

    The NSW government has left its green energy project pipeline languishing for years. Now it is charging a coal keeper tax instead.

    International students show our statecraft missing in action

    Educating the region’s high-flyers is a major source of soft power for Australia. But we are in danger of taking it for granted.

    Susannah Patton

    Foreign relations expert

    Susannah Patton

    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 CommBank
    Advertisement

    Politics

    Mount Scopus principal Dan Sztrajt said he had added extra security because students at his school felt unsafe.

    School graffiti attack builds heat on government over antisemitism

    The government could not say whether a graffiti attack on a Jewish school would be covered by proposed new hate laws.

    Opposition immigration spokesman Dan Tehan says the Coalition would prioritise skilled migration while reducing the overall migration intake.

    Foreign ‘power couples’ could head the queue under migration revamp

    Amid business fears migration cuts will worsen labour shortages, the Coalition wants foreign workers’ partners to have skills that contribute to the economy.

    Migrants who are young, skilled and prepared to move to regional areas should get priority in Australia’s migration test, business says

    Young, ready to go regional: the migrants business wants most

    Australia should prioritise full-time workers who have settled in locations with the biggest skills shortages, big four firm KPMG says.

    Australia among biggest losers if US-China trade war flares

    Australia would suffer a $30 billion income hit – the second-largest fall in the world – if tensions worsen and countries try to manufacture more at home, the OECD says.

    Wilkinson seeks $1.8m in costs for Lehrmann trial

    Ten has ‘limited’ chance of recouping costs; PNG landslide death toll estimated to be at least 670; Israeli airstrikes kill at least 35 in Rafah; Marles denies go-slow on Ukraine aid request. Follow updates here.

    SPONSORED

    World

    China’s industrial profits return to growth

    A global cyclical boom in technology products like chips as well as a push by the government to get firms to replace their old equipment supported the April upturn.

    Taiwan President Lai Ching-te, right, puts on a cowboy hat given by Representative Michael McCaul during a meeting in Taipei,

    US legislator tells Taiwan its weapons are coming

    The island nation has complained for two years of delays in deliveries of US weapons, as manufacturers supply Ukraine to support its defence against Russia.

    Villagers search through a landslide in Yambali, in the Highlands of Papua New Guinea.

    Papua New Guinea landslide toll revised up to 2000

    The unstable terrain, remote location and nearby tribal warfare are hampering relief efforts in PNG.

    China hails ‘new beginning’ with US-allied South Korea, Japan

    China, South Korea and Japan are trying to manage mutual distrust amid the rivalry between Beijing and Washington, and tensions over Taiwan.

    China’s online ‘Kim Kardashian’ banned for being too ostentatious

    The online disappearance last week of Wang Hongquanxing is part of the government’s latest campaign to maintain its dominance over China’s social media culture.

    Property

    More than two out of five property valuers are predicting house prices to increase by at least 5 per cent nationwide in the coming 12 months amid stock shortage, a CBRE survey shows.

    Perth, Brisbane and Adelaide apartments poised to outperform

    Fewer property valuers expect demand to rise in the next 12 months, but more are still predicting higher prices due to scarce supply.

    Barry Sternlicht’s $15b real estate fund limits withdrawals

    There’s trouble when an REIT fears it won’t have enough cash to pay investors back because the rate of withdrawals is higher than the amount of money coming in.

    Jacob Fong acquired 119 Charlotte Street on an initial yield of 7.5 per cent

    Former analyst pays $48m for Brisbane office tower

    Jacob Fong has taken a deep dive into the Brisbane office market and uncovered good buying opportunities in the city’s Midtown precinct.

    Co-working is moving to the suburbs

    With hybrid work the new norm, the industry is betting on sedate suburban and small-town locations where employees of big companies go to escape their homes. 

    Point Piper mansion sells on the quiet for $80m-plus

    Point Piper mansion Rockleigh has sold for over $80 million, clocking the highest price for a property so far this year.

    Advertisement

    Wealth

    Inside the great Rich List wealth transfer

    Control of vast business empires is passing to a new generation, forcing families to confront the hard questions around succession planning. Of the 200 richest Australians, 45 are over 80 and control $136.1 billion.

    How the Rich List is dodging real-life Succession dramas

    As some of its icons are farewelled, a new generation is taking the reins. So far, Australia’s business landscape has remained relatively stoush-free.

    Investors to be stung by $250m in new advice fees

    A tax office ruling will see investors pay 7.5 per cent more for advice obtained from super funds and platforms, despite government moves to cut advice costs.

    Technology

    • Exclusive
    • AI
    Bevan Slattery

    Rich Lister entrepreneur’s final start-up will build underwater robots

    Bevan Slattery is arguably Australia’s most successful tech entrepreneurs of the last 20 years. He thinks he has one more start-up in him, and has big plans for reviving coral reefs.

    Blackbird-backed deep tech start-up faces liquidation

    The Supreme Court of Victoria has ordered food waste recycler Bardee be wound up for unpaid bills, but it has already sold a large part of its assets.

    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.

    Work & Careers

    CFMEU NSW secretary Darren Greenfield (front) claimed the union had negotiated the deal with builders.

    CFMEU push to end workers’ returns under redundancy fund

    The NSW union branch is seeking to end workers getting thousands of dollars in returns a year and to send their contributions to a John Setka-backed Victorian fund.

    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.

    Advertisement

    Life & Luxury

    Different takes on transparency by Albus Lumen during Australian Fashion Week.

    Is it sheer madness to experiment with this trend?

    Often clothes are about coverage – but if Fashion Week styles are anything to go by, we’ll all be showing off a lot more.

    Five bespoke whiskies are based on the five foundations of taste – bitter, sour, salt, umami and sweet.

    If you love single malt, food and a good craic, try this $10k pairing

    An Australian chef with a two Michelin-starred restaurant in Dublin has collaborated with an Irish whiskey maker to create something exceptional and very exclusive.

    Why limiting your diet could be harming your brain

    Researchers have found that people who liked a variety of foods did better on cognitive tests than those with limited dietary preferences.

    Why pouring your own water might save your favourite restaurant

    Amid a stream of high-profile restaurant closures, leading industry figures have been forced to adopt minor service changes to control price increases.

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

    Could US Ticketmaster case spell the end of extra fees?

    A Biden administration effort to rein in entertainment giant Live Nation might encourage ticketing competition in Australia.

    From the gallery