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    Xi Jinping has a reason to be angry with Joe Biden, and that might signal that what Biden’s doing is the right path.

    The next Cold War is taking place in a chilled data centre

    Any doubt AI is now the most significant national security issue for the US and China was laid to rest this month.

    Defence Minister Richard Marles speaks during the 21st Shangri-La Dialogue summit in Singapore on Saturday.

    Australia has ‘security anxieties’ with China even as ties warm

    Deputy Prime Minister Richard Marles has called on Beijing to uphold the global rules-based order.

    Mike Cannon Brookes, Richard White and Nicola Forrest are among the Rich Listers tied to listed companies.

    How to invest like a Rich Lister and beat the market

    There are 37 listed stocks linked to Rich List members, and their ability to deliver above-market returns is impressive. 

    Why CBA’s AI future needs more reimagining

    A US trip left CBA chief executive Matt Comyn with questions to which he doesn’t have all the answers. It’s a common theme across the Australian business world.

    A felon in the White House should raise alarm

    Donald Trump’s criminal conviction may not be fatal in America’s upside-down politics. But to the rest of the world it will matter a lot.

    Rich Lister Charlie Shahin’s hopes for peace in Gaza

    Seven decades ago Charlie Shahin’s parents were forced out of Palestine. This weekend he is on the way back to the Middle East.

    On the front line of Australia’s foreign student surge

    International students are in the sights of both a government and opposition looking to win votes, writes Mark Mulligan.

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    Edition

    Financial Review Rich List 2024

    Tracking the fortunes of Australia’s richest people since 1983 | Australia’s 200 most wealthy and how they are handing over the keys to the kingdom

    WEEKEND READS

    Nine chief executive Mike Sneesby.

    Nine Entertainment executives begin review that could backfire on them

    An external review of Nine Entertainment’s TV business and an anonymous tip-line have the potential to reshape power atop Australia’s largest media company.

    Isaac Levido, the Conservative Party’s 2024 election campaign co-ordinator.

    The Aussie political guru on a UK mission impossible

    Tory campaign chief Isaac Levido will need every ounce of his battlefield wiles if he is to lift Rishi Sunak’s party out of the doldrums by July 4. Luckily, he has a plan.

    Anthony Albanese places great emphasis on a stable cabinet.

    Labor’s much-vaunted stability is showing signs of strain

    Anthony Albanese’s ministry has not changed since it was announced two years ago. But competitive tension is rising and the Future Made in Australia Act risks more fireworks.

    Things you can do with AI that are actually useful

    One of them could save you $1 million and a lifetime of misery.

    On the front line of Australia’s foreign student surge

    International students are in the sights of both a government and opposition looking to win votes. Who are these political pawns, and what is it like to teach them?

    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

    Riot police clash with pro-democracy protesters in Hong Kong in January 2020.

    Crosby Textor advised pro-Beijing HK officials

    The Australian political consultancy provided advice used by pro-Beijing officials in Hong Kong ahead of the start of national security laws that dramatically curtailed free speech.

    Robbie Cooke at his home in Brisbane this week.

    At Star, one man held all the cards

    Chief executive Robbie Cooke was determined to lead every important project at the troubled casino group, former executives say.

    The National Cyber Security Coordinator said the Australian Signals Directorate and the Australian Federal Police were also aware of the incident.

    Ticketek customers’ details ‘stolen’ in cyber incident

    Ticketek assured Australian account holders that passwords and credit card information were not compromised, Minister for Cyber Security Clare O’Neil said.

    An artist’s impression of the new facility in Perth, the deal for which puts to an end an acrimonious five years between Qantas and Perth Airport that delayed negotiations as they battled over aeronautical fees.

    Perth to be a Qantas hub under $3b peace deal

    The agreement with Perth Airport includes a new terminal and runway, and will help establish the western city as a major port for the airline.

    Nine Entertainment executives begin review that could backfire on them

    An external review of Nine Entertainment’s TV business and an anonymous tip-line have the potential to reshape power atop Australia’s largest media company.

    Anglo boss doesn’t want talks with BHP, or anyone else

    Duncan Wanblad hopes for space to “crack on” with his radical simplification strategy, and says more bidders for Anglo’s Queensland coal assets are coming forward.

    Fuel issue fixed after flight chaos but delays remain

    Chaos has erupted at Perth Airport as more than a dozen flights have been cancelled due to a significant fuel supply issue plaguing the site.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    Former RBA executive Jonathan Kearns says the central bank needs to get wages below 3.5 per cent.

    Economists read riot act to Fair Work on minimum wage

    The Fair Work Commission is expected to lift the minimum wage by 3.5 per cent to 4 per cent next week, but economists warn that anything more will add to inflation.

    Hedge fund manager Bill Ackman.

    Ackman to sell stake in Pershing Square ahead of planned IPO

    The hedge fund manager is said to be selling a 10 per cent stake of his firm in a funding round that values it at more than $US10 billion.

    Wall Street.

    Dow paces Wall St higher as early losses reversed

    A morning swoon proved to be a buying opportunity after the latest inflation data renewed hopes of a 2024 pivot to rate cuts.

    Commodities to set records after ‘violent price swings’

    Strategists have warned that traders should expect heightened volatility on commodity markets as the powerful rally in metals divides investors.

    Shares rise; Telix soars, Citi says buy BHP

    Shares add 0.7pc after three-day sell-off. Guzman y Gomez targets June IPO. Telix leaps on trial results. Pro Medicus, Lovisa hit record highs. Australian bond yields push higher. Follow here.

    Opinion

    A felon in the White House should raise alarm

    Donald Trump’s criminal conviction may not be fatal in America’s upside-down politics. But to the rest of the world it will matter a lot.

    The AFR View

    Editorial

    The AFR View

    On the front line of Australia’s foreign student surge

    International students are in the sights of both a government and opposition looking to win votes. Who are these political pawns, and what is it like to teach them?

    Mark Mulligan

    World editor

    Mark Mulligan

    Giles scandal shows we disdain bureaucracies until we need services

    Slashing the capabilities of government departments means that in the real world, dodgy characters escape scrutiny and genuine needs go unanswered.

    Laura Tingle

    Columnist

    Laura Tingle

    Trump’s court is now America’s polling booths

    A New York jury showed that no man is above the law. Their fellow Americans could over-rule that in November.

    Edward Luce

    Columnist

    Edward Luce

    Opportunities aplenty for yield buyers

    There is a rich array of opportunities available for investors searching for relatively safe and liquid yields.

    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.

    Phillip Coorey

    Political editor

    Phillip Coorey

    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

    Anthony Albanese and Chris Luxon in Sydney last year

    Albanese opens door for Giles’ exit amid NZ PM’s grave concerns’

    Anthony Albanese is making no commitment to keeping the embattled immigration minister as he weighs a winter reshuffle.

    Former president Donald Trump in court during the trial.

    Trump verdict reveals deep US divisions: Dutton

    Political leaders emphasised the strength of ties between Australia and the United States in the wake of the guilty verdict in Donald Trump’s election interference case.

    Emeritus Professor Rosalind Croucher, President, Australian Human Rights Commission, during a Senate estimates hearing at Parliament House in Canberra on Friday.

    ‘Toxic’: Human rights watchdog at war with itself over Gaza

    Race Discrimination commissioner Giridharan Sivaraman said he needed “context” before he would condemn the phrase “from the river to the sea”, in a fiery Senate committee hearing.

    ‘Gina effect’: Gallery got 25pc bump after Rinehart portrait gripe

    The fuss about an image of Gina Rinehart being included in a National Gallery exhibition did not register in the artist’s home community of Indulkana, the Senate has been told

    China will prosper if it helps stand against Russia: Marles

    The defence minister will tell the Shangri-La Dialogue in Singapore that Beijing is wrong if it thinks there is ‘indelible hostility’ towards China in the West.

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    World

    President Joe Biden speaks about the plan he hopes will lead to an end to the conflict.

    ‘Guilty on all 34 felony counts’: Biden’s major Trump strategy shift

    President Joe Biden has warned denouncing a New York jury’s guilty verdict against Donald Trump is “reckless,” “dangerous” and “irresponsible.”

    Former President Donald Trump speaks during a news conference at Trump Tower,  a day after being criminally convicted

    Trump claims ‘sick people’ are behind his prosecution

    The former president declared that he would appeal the landmark verdict, calling the trial a “scam” and the judge a “tyrant”.

    OpenAI CEO Sam Altman is also on the safety and security committee.

    Turmoil erupts inside OpenAI over safety fears

    Arguments over safety and Sam Altman’s leadership are spilling back into the public domain as the AI start-up is hit by resignations.

    Biden presents new Israel ceasefire plan

    The three-phase plan would progress from an initial ceasefire to a permanent end to hostilities and the release of all hostages.

    China’s army tests gun-toting robot dog

    The new military tech was made by a start-up with funding from major venture capital firms.

    Property

    Simon and Tah-nee Beard, the founders of Culture Kings, have stepped back from their executive positions.

    The Young Rich Listers set to smash Queensland property records

    Simon and Tah-nee Beard are seeking to smash the Queensland apartment sale record, listing their luxury penthouse for more than double what they paid.

    Looking to a brighter future for Lendlease: CEO Tony Lombardo this week.

    Why Lendlease is rebuilding after going big and going home

    The Australian builder, developer and investor promises major change. But questions remain unanswered by the activist target.

    Brett Wells, who waited 517 days for a DA from Woollahra Council.

    Brett Wells waited 517 days for a DA approval. Now he’s going to court

    The doctor is at war with Woollahra Council, which has a reputation as one of Sydney’s most anti-development municipalities.

    Live where the Kardashians stay in Bellevue Hill for $15k a night

    AFR Weekend takes a look inside Sydney’s secret world of prestige rentals, where A-listers and business heavyweights dig deep for temporary accommodation.

    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.

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    Wealth

    Mike Cannon Brookes, Richard White and Nicola Forrest are among the Rich Listers tied to listed companies.

    How to invest like a Rich Lister and beat the market

    There are 37 listed stocks linked to Rich List members, and their ability to deliver above-market returns is impressive. 

    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.

    How the rich use this tax strategy to get richer

    For many people, debt is a scary word. But debt can help build wealth so long as you’re careful about it.

    Technology

    CBA boss Matt Comyn has a flurry of ideas in his head about how AI will affect his industry and country.

    Why CBA’s AI future needs more reimagining

    A US trip left CBA chief executive Matt Comyn with questions to which he doesn’t have all the answers. It’s a common theme across the Australian business world.

    ESafety Commissioner Julie Inman Grant.

    Why age restrictions on social media ‘won’t happen overnight’

    Australia’s eSafety Commissioner says it is difficult to judge the correct age to ban kids from social media.

    OpenAI CEO Sam Altman is also on the safety and security committee.

    Turmoil erupts inside OpenAI over safety fears

    Arguments over safety and Sam Altman’s leadership are spilling back into the public domain as the AI start-up is hit by resignations.

    Work & Careers

    Australian Restaurant and Cafe Association (left to right) deputy chair Chris Lucas, CEO Wes Lambert and chair Neil Perry at their new headquarters in North Sydney.

    Neil Perry, top chefs combine and take on the old guard

    Heavy hitters including Luke Mangan and Merivale have joined a new association to help save the restaurant industry – and challenge a century-old lobby group.

    How Geoff Wilson assembled his investment dream team

    Philip Lowe, Jennifer Westacott, Mike Baird, David Paradice, Andrew Forrest and Solomon Lew are among the heavy-hitters who have joined Geoff Wilson’s charitable mission to raise money for kids.

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    Life & Luxury

    Comedian Nazeem Hussain.

    How this comedian built a career while working for PwC

    His bosses thought he’d just popped out for a moment, but he was actually working at the ABC.

    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?

    Demi Moore stars as Elisabeth Sparkle, an Oscar-winning actress whose second career as a televised exercise host comes to an abrupt end.

    Why Demi Moore’s gory new film is generating so much buzz

    The actress’s moving and brutal Cannes sensation, ‘The Substance’, ends her retreat from stardom and reveals her vulnerability after a challenging career.

    Although red meat is rich in iron, it’s also high in saturated fat.

    This is how much saturated fat you can ‘get away’ with eating

    A study shows that processes that occur in your heart and blood are the biggest driver in how our bodies use different fats as fuel.

    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.

    From the gallery