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‘Rigged’: Trump hits out after being found guilty in hush money trial
Trump has been convicted of falsifying business records to cover up an affair. His sentencing is scheduled for July 11. Follow updates here.
Latest Posts
Ukraine gets $31m aid boost, but no coal
Trump can still vote for himself if he stays out of prison
Trump in handcuffs on cover of next week’s ‘New Yorker’
Manhattan DA refuses to say if he’ll request prison sentence for Trump
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- Exclusive
- Rich List
Australia’s wealthiest 200 now control $625b
Technology is back, resources rode a roller coaster and property growth returned, giving Australia’s Rich Listers an 11pc boost to their total fortune.
Brookfield lands Origin Plan B with $10b Neoen bid
The French utility’s pipeline makes it the largest owner of renewable energy in Australia, six months after Origin dismissed the Canadian investment group.
- Live
- Markets Live
ASX to climb; ANZ sells Malaysian bank stake, Wilsons bullish Telix
ASX futures higher; Louis Dreyfus extends bid deadline for Namoi; Australian bond yields push higher; copper, iron ore decline. Follow updates here.
They battled blokey workplaces. Now these 33 women enforce the rules
Energy regulator Clare Savage and competition chief Gina Cass-Gottlieb are among 33 women leading Australia’s regulatory bodies, once the domain of male enforcers.
- Opinion
- Canberra Observed
There won’t be a reshuffle until there is one
To move Immigration Minister Andrew Giles, a close factional ally of the Prime Minister and member of his praetorian guard, could cause more problems than it would solve, writes Phillip Coorey.
- Opinion
- Chanticleer
A Takeovers Panel application before a deal? It’s a jolt for Rio
You can bet Rio Tinto doesn’t like being pushed around by some pipsqueak fund managers, but there’s a lot riding on this bombshell move.
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rich list
The ASX business so good ‘you can’t put a sell on it’
Analysts say Pro Medicus is one of the world’s most expensive stocks, but also one of the best.
‘Biggest challenge by a mile’: why developers can’t build homes people can afford
Developers Tim Gurner, Sam Tarascio and Maha Sinnathamby have kept their places on this year’s Rich List amid a housing crisis. This is how they did it.
Rich Lister Terry Snow steps away from the cockpit
At 79, the Canberra property dynamo behind Canberra Airport is finally stepping down from active roles. His son Tom will now chair the airport board.
- Exclusive
- Rich List
More than half the 11 new Rich Listers are already billionaires
Two cryptocurrency giants, an under-the-radar mattress mogul, a former mechanic and an ex-NRL player are among 17 new and returning faces on this year’s Rich List.
- No. 176
- Rich List
Rich Lister Wes Maas’ three rules for business decisions
The former NRL player has built a billion-dollar company through hard work and diversification.
review
The man who would help Trump upend the global economy
As a potential US Treasury secretary, Robert Lighthizer has more than trade policy to revolutionise.
- Opinion
- Foreign relations
How higher US tariffs are helping China’s competitors
American tariffs on imports from China will redirect economic activity toward third-country suppliers considered allies.
Baby Boomers are loaded. Why are they so stingy?
Recent evidence has cast doubt on the notion that a spending splurge by those born between 1946 and 1964 is on the way.
The woman who could be Mexico’s next president
If Claudia Sheinbaum wins the presidential election on Sunday, she will be the country’s first female, and first Jewish, president.
The disease detectives trying to keep the world safe from bird flu
Frontline work in low-income countries is increasingly vital to a global system to detect viruses that jump between animals and humans, the way COVID-19 did.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Magistrate to decide if alleged Kidman insider trader faces trial
A magistrate will decide next week if Duncan Stewart will face a criminal trial for allegedly buying shares in lithium miner Kidman Resources with inside information.
BHP turns inward after $75b Anglo rebuff
BHP will take investors to see growth projects in Chile to assure them it does not need a big copper acquisition like its failed $75b bid for Anglo American.
- Exclusive
- Food & drink
Jon Adgemis strikes $400m refinancing deal to save pub empire
The former KPMG dealmaker will likely stay on as executive chairman of his Public Hospitality Group after reaching a deal with Deutsche Bank to avert collapse.
Legal action vowed against Rugby Australia after Melbourne Rebels axed
Troubled rugby union club Melbourne Rebels has been shut down after 14 seasons.
Nine Entertainment backs CEO, says TV newsroom needs culture rebuild
After a three-hour board meeting, Peter Costello co-signed a note to staff announcing a set of initiatives to improve the media giant’s workplace culture.
Chemist Warehouse-bound Sigma gets first strike on pay
The drug wholesaler, which is seeking to merge with Chemist Warehouse, will get news on the deal from the ACCC in mid-June.
‘Paying a pittance’: Australia Post wants banks to boost funding
Ahead of a Senate estimates hearing on Thursday night, Paul Graham says its banking service is heading towards a loss and contracts need to be redrawn.
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Markets
Cettire founder Dean Mintz backs his ‘best in class’ returns process
The luxury marketplace’s chief executive told a stockbrokers’ conference the company, which has divided investors, was spending more on customer service.
Markets increasingly expect next interest rate move will be up
Traders are increasingly confident the Reserve Bank will be forced to raise interest rates, particularly if a decision to lift minimum wages next week is above expectations.
The stocks fuelling Victor Smorgon’s 40pc returns
The Melbourne firm’s global fund has shot out of the blocks again this year thanks to record gold and copper prices. It’s also very bullish on one newly listed mining stock.
L1 Capital says banks pose risk to ASX, but it likes AGL
The Melbourne fund manager is warning that the dream run for retailers and the big banks will come to an end and weigh markets down.
GDP growth tipped to slump to 1.1pc, but don’t expect a rate cut
Economists expect GDP figures next week could show annual growth slumped to just 1.1 per cent in March, after consumer spending and home building went backwards.
Opinion
Why BHP’s pursuit of hot copper went cold
The red metal is the new black. A rebuffed BHP has gone back to the drawing board to plot its next move after Anglo American rejected its request for more time.
Columnist
Ageing Rich Listers approach wealth dispersal watershed
Forty-five of the 200 Rich List entries, holding about $140 billion in wealth, are aged over 80.
Editorial
There won’t be a reshuffle until there is one
To move Immigration Minister Andrew Giles, a close factional ally of the Prime Minister and member of his praetorian guard, could cause more problems than it would solve.
Political editor
Cutting company tax is not the only way to spur investment
Recognising the cost of equity in the tax system is the equitable, effective and productive way to achieve corporate tax reform.
Business has bigger worries than ESG
One explanation for the seeming decline in discussion about ESG is that it’s something that goes in and out of fashion according to economic conditions.
Columnist
Let business play a role fixing Australia’s affordable housing crisis
ASX-listed Aspen has found novel ways to combat the cost inflation plaguing the sector. It’s time to scale via M&A and create sustainable operators.
Contributor
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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- Exclusive
- Education
Migration cuts scaring off investors in student digs: industry
A shortfall will exist even if international student numbers drop to as low as 25 per cent of 2019 levels, according to Savills.
Treasury boss warns PM: ‘Enormous benefits’ from Chinese solar panels
Commenting on the government’s Future Made in Australia green industrial subsidies, Steven Kennedy says Australia ‘must not be distracted by ideas, frankly, over many decades, have been shown won’t work’.
Zelensky pushes Albanese over peace summit attendance
Volodymyr Zelensky has asked Anthony Albanese to help generate support for the June peace summit in Switzerland. Coal was not raised.
‘Johnny on the spot’: China ban ends at perfect time for beef farmers
Just two Australian beef exporters remained locked out of the Chinese market, the latest thawing in the long-running trade dispute between Beijing and Canberra.
- Exclusive
- Australia's China challenge
Future Fund sells stakes in Chinese firms linked to military, rights abuses
Australia’s sovereign wealth fund has sold out of a range of Chinese companies, including brewer Tsingtao and energy and tech firms.
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World
Australian among 14 convicted in Hong Kong’s biggest security case
A Hong Kong court has found the pro-democracy activists guilty in a national security case that has effectively wiped out the city’s political opposition.
Google to invest $3b in Malaysian data centre and cloud hub
The news follows Microsoft’s announcement that it would put $US2.2 billion into Malaysia’s new cloud and artificial intelligence infrastructure.
NZ government cuts taxes even as deficit widens
The tax cuts are almost identical to the pledge Prime Minister Christopher Luxon’s National Party campaigned on ahead of the October election.
WeWork’s no-drama new owner pitches turnaround
Low-profile software tycoon Anant Yardi sees “tremendous opportunity” in the co-working business after a turbulent bankruptcy.
Israel seizes control of Gaza border with Egypt, cutting off Hamas
Israel said it has secured control of Gaza’s southern border with Egypt and discovered numerous smuggling tunnels, in moves that raised tensions with its neighbour.
Property
Perth’s house prices to jump 21pc by 2025: NAB
The bank upgraded its house price expectations for Perth, Brisbane and Adelaide as values there accelerate.
Sluggish rate of new home approvals is bad news for renters, buyers
The dwindling pipeline of new builds revealed by the drop in permits is another blow to efforts by governments across the country to improve housing supply.
Baby Boomers are loving the ‘freedom’ of renter life
Typically, those who don’t own a home worry it might be detrimental to their financial future. However, more Baby Boomers are in favour of renting.
- Analysis
- Luxury property
What went wrong at Britain’s poshest retirement village?
High-end retirement homes aimed at wealthy Baby Boomers are popping up all over the UK. Investors now consider the senior living sector to be a profitable asset.
Interstate buyers drive $600k rise in new Gold Coast apartment prices
Interstate investors drove the average price of a Gold Coast apartment purchased off-the-plan to $1.73 million in the March quarter.
Wealth
- Opinion
- Portfolio management
The economy is turning and your investment portfolio needs attention
Residential mortgage-backed securities might be a good option in a weakening economy.
- Opinion
- Super Q&A
I’m a high earner about to encounter Division 293 tax. What can I do?
You may want to consider reducing your taxable income below $250,000 by claiming allowable deductions such as donations to charity.
- Opinion
- Shopping centres
Why shopping centres are a good investment prospect
Population growth, a robust employment market and rising incomes will stoke retail spending, and much of the extra money will end up in shopping centres.
Technology
ChatPwC v KPMG KymChat: Consultants race is on after ‘world’s biggest’ AI deal
The US and UK arms of consulting giant PwC have become the biggest direct corporate client of OpenAI, announcing a deal to use and resell the AI firm’s tools.
Tesla slams Glass Lewis after report on Musk mega pay deal
The electric vehicle maker has hit back at the proxy adviser and is urging investors to back Musk’s mega pay deal.
Companies ‘must take responsibility for not breaking laws with AI’
The competition and corporate regulators say businesses have all the information they need to experiment with AI, after being accused of providing a lack of guidance.
Work & Careers
What this CEO has learnt about spouting off ideas in meetings
Netwealth CEO Matt Heine is a self-proclaimed “ideas fountain,” but has learnt the trait doesn’t always work in the top job.
Olympian Grant Hackett’s rise from rock bottom to top 500 CEO
The three-time Olympic gold medallist has always been a long-term planner, and had his career mapped out well before his illustrious swimming career ended.
Life & Luxury
400 new recipes for one small ship? This is cruising for true foodies
New executive culinary director Alexis Quaretti is serving classical French cuisine, of course, but expect additional inventive menus from Oceania Cruises.
TikTok video about finance bros is a viral hit
A 19-second song poking fun at old stereotypes has becone a viral hit.
How to get 50,000 frequent flyer points and gold status
Air Canada is joining a string of carriers expanding in Australia, hoping to capture travellers fed up with being unable to use their frequent flier points.
When a marathon isn’t a big enough challenge
Running 42.2 kilometres continuously will always be impressive. But for a rising number of extreme exercisers, it is no more than a starting point.
Seven shows you don’t want to miss in June
From the original ‘Evita’ to Coppélia set in the Adelaide Hills, here’s our pick of the top performances and exhibitions around Australia.
