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    Join business leaders and industry pioneers at this timely Financial Review summit on the latest in AI.

    Full coverage here

    Google Australia’s managing director Mel Silva says AI will touch every part of the economy.

    Big business braces for AI wave and plenty of uncertainty

    Executives are certain artificial intelligence will transform every part of the economy. They just want to “separate the hype … and the pragmatism”.

    Trade Minister Don Farrell and Resources Minister Madeleine King say the deal could help revive free trade talks.

    EU critical minerals deal a boost for ‘green premium’ nickel

    A new MoU between Australia and the European Union will smooth the way for investment in resources projects.

    The Pit Stop Sports Bar & BBQ Grill on the outskirts of Portland, Oregon.

    The biggest threat to Australia’s lotteries? This Oregon sports bar

    In an understated barbecue joint on the outskirts of Portland, lotto sales are booming – thanks to a secretive Northern Territory-registered wagering group.

    Cautious consumers to trigger more profit warnings

    Economists warned of more softness in consumer spending until tax cuts and government stimulus breathe new life into the economy amid a string of corporate profit warnings with more to come.

    Canva enterprise boss out after six months

    Former Google and Microsoft executive Javier Soltero was hired to lead the company’s enterprise efforts, which are key to its IPO plans.

    How Stockland is punting on a bit of Goodman Group magic

    Goodman Group is the gold-standard for creating value in Australian property, so it is interesting to see the likes of Stockland replicating its model.

    Why EV makers are set to turn on Donald Trump

    The former president has vowed to shred President Joe Biden’s electric vehicle policies, threatening “you won’t be able to sell those cars” if he is elected.

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    AFR AI SUMMIT

    AI could claim 30pc of executive jobs in two years

    As Commonwealth Bank CEO Matt Comyn keenly monitors the AI revolution, Adam Driussi of Quantium says more executives need to follow suit. 

    CBA CEO Matt Comyn addressed the AI Summit in Sydney on Tuesday.

    After Comyn’s AI trip, the CBA boss can compute impact on banking

    Comyn now knows AI will reshape the global technology industry, business landscape and geopolitics in profound ways yet to play out.

    Ed Husic has called for a reduction in the corporate tax rate.

    Husic calls for lower corporate taxes

    Industry Minister Ed Husic has called for a lowering of corporate tax, either via direct reduction in the rate or through an economy-wide investment allowance.

    Corporate tax reform needs to be on the table, says Husic

    This is an edited and abridged transcript of a speech followed by a question and answer session given by Minister for Industry and Science Ed Husic at The Australian Financial Review AI Summit. 

    Regulators keeping business in the dark on AI: Productivity Commission

    Weeks away from new regulations governing high-risk AI use, regulators still haven’t explained how existing laws apply, says one productivity commissioner.

    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

    Adrian Foo and Mike Sneesby have been friends for many years.

    Stan executive left Nine’s streaming business after workplace claims

    The departure followed complaints from multiple staff, and was months before another executive left the media group amid separate sexual harassment allegations.

    Selina Liang

    Consulting rookies: how to absorb the data deluge

    Selina Liang has spent much of her first 15 months at consulting firm Oliver Wyman learning how cope with the reams of information typical of new projects.

    Optus is still focused on rebuilding its trust with customers, according to Venter, after last November’s outage, which lasted nearly 16 hours, affected some 10 million people and led to the resignation of then-CEO Kelly Bayer Rosmarin.

    Optus raises monthly mobile plan prices by 5-6pc

    Optus has quietly raised prices of its cheapest and most popular monthly mobile phone plans for new customers above the rate of inflation, blaming higher costs.

    Westpac is also facing scrutiny from the prudential regulator over the actions of former RAMS franchisees

    Westpac’s RAMS faces ASIC, APRA blowtorch

    ASIC has been investigating the big four-owned group and its franchisees since at least September 2023.

    Canva enterprise boss out after six months

    Former Google and Microsoft executive Javier Soltero was hired to lead the company’s enterprise efforts, which are key to its IPO plans.

    Catalano taps Barrenjoey, ABL to push Southern Cross deal

    Media entrepreneur Antony Catalano wants Southern Cross Austereo to buy his and partner Alex Waislitz’s regional media business.

    Spending crunch spreads as Peter Warren Auto tumbles on profit warning

    Shares in the second-largest car dealership group on the ASX crashed to a record low as it warned of a margin squeeze amid cost-of-living pressures.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    Investors are returning to the Chinese sharemarket, buoyed by hope of a recovery in consumer demand.

    UBS bets big on China despite ‘challenging’ backdrop

    The investment bank believes China is a ‘bright spot’ in Asia, and warns that Indian equities are ‘priced too perfection’.

    ASX futures are pointing to a modestly positive start.

    Gold miners shine as shares trade sideways, Boss Energy sinks

    Shares fall. Retail sales lift 1.3pc on April 2023. Gold, silver, copper rise. Southern Cross considers ACM deal. Peter Warren downgrades. Playside lifts guidance. Follow here.

    Australians are facing an economic environment of rapidly rising interest rates.

    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.

    What happened overnight? Nasdaq futures rose to a record, bitcoin steady

    Australian shares are set to advance modestly at the open. UK, US markets were closed overnight. Lendlease, BHP and Healthscope in focus.

    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.

    Opinion

    The long wait for rate cuts may be just beginning

    Rate cuts that had been pencilled in for mid-year have been regularly pushed back. It’s fair to wonder whether they will instead be a feature of 2025.

    Daniel Moss

    Contributor

    Why tariffs won’t stop China’s dominance in EVs

    Chinese EVs are facing higher tariffs in Europe and the US, raising the likelihood of a broader trade war. Australia may be caught in the middle.

    Populism aside, questions hang over universities’ foreign student trade

    The political risk confronting universities’ lucrative international students trade raises questions about their business model and the benefits for higher education.

    The AFR View

    Editorial

    The AFR View

    Here are the facts about Australia’s nuclear submarine program

    It is not an alliance of mutual obligation. It is not a commitment to support the US in a conflict over Taiwan. It is a technology capability pact.

    Jennifer Parker

    Defence expert

    Jennifer Parker

    Why inflation will be back, sooner than you think

    Central banks cannot be as independent as we like to believe. And they would always rather avoid a recession than avoid inflation.

    Rising bond yields have investors on edge

    Rising bond yields are casting a cloud over the US equity market, as investors focus on the budgetary implications of the November presidential election.

    Karen Maley

    Columnist

    Karen Maley

    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
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    Politics

    Andrew Giles.

    Giles orders urgent review into criminal ‘migrants’

    Immigration Minister Andrew Giles says he is looking at freshly cancelling the visas of non-citizens who a tribunal has stopped from being deported.

    Simon Kennedy delivered his maiden speech on Tuesday night.

    Reform GST to abolish stamp duty: Liberal MP

    Newly elected Cook MP Simon Kennedy says states and territories should compete for housing and infrastructure funding.

    The Reserve Bank of Australia headquarters in Sydney is under renovation.

    RBA’s asbestos-ridden HQ shouldn’t be sold, MPs say

    The cost of renovating the RBA’s Martin Place headquarters has blown out fourfold to $1.1 billion, but forging ahead with the refurb is still the cheapest option.

    Human Rights Commission’s ‘silence deafening’ on antisemitism

    Former regulator Graeme Samuel has taken aim at the Human Rights Commissioner for her ‘deafening silence’ on the rise of antisemitism.

    APRA tightens Mercer’s super licence over risks, compliance failures

    The watchdog has forced Mercer Super to bring in external compliance experts after finding several breaches of its legal duties.

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    World

    German Chancellor Olaf Scholz and French President Emmanuel Macron.

    Macron, Scholz plan joint push to boost European air defence

    The initiative is one of several policy areas, including capital markets reform, that the two European leaders were scheduled to discuss.

     Villagers search through mud and rubble in Yambali village, in the Highlands of Papua New Guinea.

    Fears of second PNG landslide and disease outbreak

    The blanket of debris has become more unstable after rain and streams trapped between the rubble.

    ‘River to the Sea’ explained in one map and two charts

    The slogan is a kind of Rorschach test for people in the pro-Israel and pro-Palestine camps – and Canberra is struggling to bridge the gap.

    Israel’s ‘unbearable’ Rafah strike triggers global outrage

    Israel faced widespread international condemnation for the airstrike that killed dozens of Palestinians in a camp for displaced civilians in Rafah.

    Why EV makers are set to turn on Donald Trump

    The former president has vowed to shred President Joe Biden’s electric vehicle policies, threatening “you won’t be able to sell those cars” if he is elected.

    Property

    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.

    Boomers’ property wealth in ‘fire sales’ to pay UK inheritance tax

    Inheritance tax can run into hundreds of thousands of pounds. Their cash-poor descendants could be unable to afford their own inheritance.

    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.

    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.

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    Wealth

    Grant Petty, founder of Blackmagic Designs, cautions that AI is not new, and is currently at the top of a hype cycle.

    AI reshapes Rich Lister business but not their fortunes yet

    Rich Listers are using AI to overhaul graphic design, advance healthcare and improve cybersecurity, but few are investing personally.

    Why Shakespeare matters to Rich Lister Katie Page

    “We all quote Shakespeare all the time, whether we know it or not.” The Harvey Norman CEO – and Rich Lister – has a lifelong love for The Bard.

    ‘I spent four months in and out of hospital thanking my old boss for this advice’

    After a potentially life-threatening gallbladder condition, Jessica Brady has two goals: Listen to her body, and make sure young people are prepared for the worst.

    Technology

    This is how the Silicon Valley geeks could destroy Hollywood

    Sam Altman’s obsessive pursuit of Scarlett Johansson for his new chatbot has helped end an 18-month media honeymoon for AI companies.

    Microsoft CEO Satya Nadella.

    Microsoft CEO should be fired over cyber failure

    A cyber breach slammed by the US government for leaving customers exposed is down to a culture led by Satya Nadella of profit over security.

    • 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.

    Work & Careers

    The new merged Adelaide University will be reliant on growing numbers of international students, says David Lloyd

    Harsh migration cuts will stifle new mega-uni’s ambitions

    Adelaide University got its official tick of approval on Tuesday, but its plan to recruit 13,000 new students over eight years could suffer from migration cuts.

    Female graduates beat males on all fronts – except salary

    The gender pay gap is reducing – slowly – over time. But women who graduate at the same time as men can still expect to earn significantly less.

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    Life & Luxury

    A recent poll by market research firm Mintel found that 47 per cent of men aged between 18 and 34 in the UK had used a dating website or app in the year to December, compared with 25 per cent of women of the same age.

    Why young women are falling out of love with dating apps

    Gen Z is a priority for Tinder and Bumble but threats and unsolicited material from potential suitors often turn users off.

    Studies have found that running can

    What top brain experts do every day to avoid dementia

    Dementia is a journey into darkness that affects millions around the world. Here’s what four leading brain health experts do to try and protect themselves.

    The Volvo EX30 Ultra has arrived in Australia: it’s yours for $66,290 plus orc, though there are two other models to choose from too.

    Volvo’s new EX30 Ultra takes just 3.6 seconds to reach 100 km/h

    The fully electric city slicker is the brand’s fastest accelerating car ever, plus it’s roomy, quiet and friendly looking. What’s not to like?

    Robovacs finally come to grips with corners

    Having mastered the first stage of the robotic evolution, vacuum manufacturers have moved onto the next challenge.

    Interior sculptural detail in Luna House, the work of Leeton Pointon Architects.

    Building a home? These Melbourne beauties are an ode to concrete

    Make a street statement with this silky-smooth material. It may be costly to produce but its versatility and durability make it a joy to live with.

    From the gallery