Join the debate around the future of ESG in today’s business and financial markets.
Future Made in Australia is ‘not tax reform’, says PC boss
Productivity Commission boss Danielle Wood also said cutting company tax would make the economy more competitive, putting her at odds with Treasurer Jim Chalmers.
Climate targets ‘challenged’ as energy transition stumbles
Business leaders say the Albanese government will struggle to meet its goals with the energy transition, which is proving much more costly and difficult than anticipated.
- Opinion
- ESG Summit
In the ESG debate, this is what’s really torching shareholder value
For all the talk about the “E” in “ESG”, what gets CEOs sacked and costs investors money are old-fashioned social licence and governance issues.
Rare earths miner hacked after Chinese investors ordered out
A ransomware group has posted CEO emails and sensitive commercial data from miner Northern Minerals on the dark web after Chinese investors were ordered to sell.
- Exclusive
- Healthcare
GenesisCare’s valuation shrinks to less than $500m after bankruptcy
Once a global cancer services giant, the company’s new owners are buying back shares from local backers for just $0.000186 as the business is restructured.
Labor launches review into native title ‘inequality and unfairness’
The review will look into the limitations on native title land being used for economic development and how to support consensus among traditional owner groups.
Profit growth drops amid household spending crunch
Over the past year, profits fell across the manufacturing, wholesale and transport sectors, and barely grew in the consumer-facing retail and hospitality industries.
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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
AFR ESG SUMMIT
Climate targets ‘challenged’ as energy transition stumbles
Business leaders say the Albanese government will struggle to meet its goals with the energy transition, which is proving much more costly and difficult than anticipated.
Security and affordability over net zero: energy giant Jemena
Rising geopolitical risks should prompt a rethink of Australia’s energy priorities so reliability of supply and affordability rank above the net zero transition.
- Opinion
- ESG Summit
In the ESG debate, this is what’s really torching shareholder value
For all the talk about the “E” in “ESG”, what gets CEOs sacked and costs investors money are old-fashioned social licence and governance issues, writes Anthony Macdonald.
Keep food scraps onshore for future aircraft fuel: industry
Singapore is quickly developing the capacity to convert waste into aviation fuel.
- Opinion
- ESG Summit
The biomethane route to cutting emissions
Renewables such as solar and wind get most of the policy attention, but businesses are experimenting with other low-carbon fuels, writes Jennifer Hewett.
mabo legacy
- Exclusive
- Indigenous justice
Give native title trust fund billions to the Future Fund: Pearson
Cape York Indigenous leader Noel Pearson says existing structures often involve opaque discretionary trusts that either lock up money too tightly or suffer from the funds being squandered and not invested wisely.
Labor launches review into native title ‘inequality and unfairness’
The review will look into the limitations on native title land being used for economic development and how to support consensus among traditional owner groups.
- Explainer
- Indigenous justice
What can Indigenous groups do with native title?
Unlike native title rights in other countries, the Mabo decision provided only a limited bundle of rights that must be tied back to a group’s traditional laws and customs. Here’s how it works.
- Exclusive
- Indigenous justice
‘Disgraceful’ government neglect costs Indigenous funds $1b
Two big government funds set up to benefit Indigenous people without native title rights were shackled for decades by the investment equivalent of stuffing money under a mattress.
How the High Court ‘stunned’ Eddie Mabo’s lawyers and saved the case
Three decades later, members of Mabo case’s legal team reflect on the moment that turned their approach to the historic land rights case.
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Companies
News Corp on edge as redundancies roll out after major restructure
The publishing giant’s state-based tabloid editors have been the winners in the latest internal overhaul despite their readership records.
- Opinion
- Chanticleer
Meet Australia’s new mortgage prisoners
New data from Morgan Stanley suggests high house prices, difficulty getting loans and depleted savings mean more households are stuck in their current home.
- Exclusive
- Healthcare
GenesisCare’s valuation shrinks to less than $500m after bankruptcy
Once a global cancer services giant, the company’s new owners are buying back shares from local backers for just $0.000186 as the business is restructured.
Boost for Afterpay as Block drops plans for Cash App in Australia
Afterpay Plus will make buy now, pay later more ubiquitous, says Nick Molnar, in his first public comments on the growth strategy in Australia post-acquisition.
ASIC says it is probing three lenders for credit breaches
The admission comes just weeks after the corporate regulator accused lenders of creating “unnecessary barriers” that hindered under-pressure customers.
Godfreys creditors wiped out after plans to sell retailer collapse
The company’s administrator, PwC, says it has succumbed to fierce price competition, souring consumer sentiment and a flawed strategy of buying out franchisees.
Rio Tinto to invest $215m in giant iron ore microwave
Microwaves aren’t just for reheating food in the kitchen – they could help solve the carbon footprint problem of the iron ore industry.
Companies in the News
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Markets
ASX slips as BHP, Woodside lose ground
Shares slip on weak oil, iron ore prices; AFT expands in the US; Life360 launches US IPO; Lovisa extends losses; New chairman at Crown.
GameStop frenzy returns after Keith Gill’s Reddit return
The meme stock soared on Wall Street after a Reddit post appeared to reveal a $173.6 million position in the video-game retailer.
RBA rate rise still expected even after ‘balanced’ wage review
Bond traders are still anticipating the Reserve Bank may lift the cash rate to tame inflation, even as the Fair Work Commission kept the minimum wage increase below 4 per cent.
What happened overnight? Nvidia leapt still higher, helping turn S&P 500 positive
While US factory data missed, bond yields fell on hopes that the economy will slow enough soon enough to pave the way for a rate cut. Nvidia and Apple advance on Microsoft on AI bets.
Investors pull money from tech in ‘next phase’ of the AI trade
Hedge funds have trimmed exposure to the Magnificent Seven and increased holdings in the utilities and healthcare stocks as the AI rally broadens to other pockets of the sharemarket
Opinion
Fair Work decision gives Labor another chance to run its wages fib
The former government never embarked on a deliberate strategy to suppress wages. But you wouldn’t know it.
Political editor
The biomethane route to cutting emissions
Renewables such as solar and wind get most of the policy attention, but businesses are experimenting with other low-carbon fuels.
Columnist
ESG idealism runs into hard realities of execution
The end of cheap money to invest, the cost of living crisis, and energy price shock have dramatically changed the order of priority for customers, governments and investors.
Editorial
In the ESG debate, this is what’s really torching shareholder value
For all the talk about the “E” in “ESG”, what gets CEOs sacked and costs investors money are old-fashioned social licence and governance issues.
Columnist
The GameStop flurry masks the market’s underlying angst
Investors are worried that the Federal Reserve is now overly preoccupied with reducing inflation, and could be missing signs that the US economy is weakening, writes Karen Maley.
Columnist
Migration is our ‘special sauce’, so let’s be rational about it
We should be honest about failed housing policy, thoughtful about changing the international student mix, and not shunt blame onto migrants.
Member for Wentworth
Reports
Driving an electric future
This Insights Report looks at the benefits and remaining hurdles of broadscale EV adoption from a business and consumer perspective.
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Labor scrambles to end confusion on foreign military recruits
The government has scrambled to clarify that foreigners eligible to join the Defence Force will be limited to just a few countries.
- Updated
- Disability
‘Too late to prosecute’: Fraud rife among NDIS managers
The integrity chief for the NDIS says nine out of 10 plan managers surveyed showed “significant indicators of fraud” including using scheme money for drugs and alcohol.
Gender pay cases loom large over budget
The federal government may have to boost funding to the National Disability Insurance Scheme to cover off potential wage increases flagged by the minimum wage decision.
- Exclusive
- White collar crime
ASIC lawsuit reveals up to $2.8m axed from audit oversight
For the first time ASIC has candidly admitted the extent of changes that led to its annual report card on the big four accounting firms’ audit quality being scrapped.
- Analysis
- Monetary policy
The heated phone calls that landed Andrew Hauser at the RBA
The new RBA deputy can still hear the panicked voices of British financial market participants on the telephone in October 2022, hours after the then-prime minister Liz Truss released her fateful mini-budget.
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World
Indian shares tank as Modi fails to secure landslide
The NSE Nifty 50 Index tumbled as much as 8.5 per cent in Mumbai as early counts showed Mr Modi’s BJP and its allies with a slimmer majority than predicted.
Trio of big Tory donors drop campaign funding
A private poll by the donors showed Labour was on track for a “Tony Blair-style landslide”, according to two people familiar with its results.
Nigel Farage puts another nail in UK Tories’ coffin
His move to stand in a winnable seat for the populist Reform Party comes as fresh opinion polls show Rishi Sunak’s Conservatives on course for an historic loss.
Four more hostages dead, piling pressure on Netanyahu
Anger is mounting from all sides in Israel against Prime Minister Benjamin Netanyahu over the US proposed ceasefire deal.
Biden to get power to seal US border in tough immigration move
A surge in border crossings from Mexico has become a potent political issue for the president and rival Donald Trump ahead of the November 5 election.
Property
Billions in CBD office tower sales to test valuations
The slew of assets being offered off-market comes as listed property giants gain confidence that the office sector disruption is finally bottoming out.
Rich Listers look to sell Gold Coast waterfront tavern
The billionaire Roche family are selling the large-format Harrigan’s tavern within their Calypso Bay waterfront estate as they focus on their NSW assets.
HAFF housing fund applications top 50,000 in first round
The government revealed demand for funding under the affordable and social housing program surged.
Vicinity’s $96m exit at Pilbara mall opens door for syndicator
For Vicinity, the sale is the latest in a run of exits from smaller assets as it looks to drive an ambitious development program at its top malls.
Migration behind Queensland house price surge: experts
Brisbane has overtaken Melbourne as the second-most expensive city to buy a house and Queensland is now the ‘epicentre’ of the housing crisis, an academic says
Wealth
- Opinion
- First-home buyers
Why Gen Z’s share portfolios should be free of capital gains tax
There’s little prospect of housing affordability improving, so the portfolios of young savers should get the same tax-free treatment as the family home.
- Opinion
- EOFY
Five things for SMSFs to do before June 30
Think of it as the world’s most boring, but incredibly profitable, game with the Tax Office.
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.
Technology
- Opinion
- AI
Key workers left as invisible bystanders to the AI revolution
A hype-driven, tech-led approach to AI adoption will harm workers, disappoint investors and damage the economy, we must listen and learn from workers at the coalface.
- Opinion
- Digital Life
Nice headphones, Sonos. Shame about the app
Sonos has overhauled its app to add headphones to its legendary multi-room audio system. It shouldn’t have.
- Exclusive
- Venture capital
VC firms lured to Qld by government funding
Early Tritium investors who sold out of the Brisbane-based company close to the peak of its valuation are among four VC firms to receive government backing.
Work & Careers
Consulting firms soften partner intakes despite rise in exits
The latest partner promotions and appointments at EY, Deloitte and PwC reflect the major downturn in advisory work.
- Exclusive
- Workplace
Gen AI tools for lawyers ‘hallucinate’ up to one in three times
Generative artificial intelligence tools designed for the legal industry make up false or misleading information up to one in three times, a study has found.
Life & Luxury
How to choose the right electric vehicle for you
With more and more people making the switch to an EV, and more brands on offer, what are the key considerations for drivers?
Gorry, Foord named in Matildas Olympics squad
Coach Tony Gustavsson named his 18-strong Matilda’s Olympic squad in Sydney on Tuesday. Injured Foord and Gorry are selected in the team.
- Driving With Tony Davis
- Motoring
More than 20 hybrid-powered Hypercars are set to battle it out at Le Mans
The stakes couldn’t be higher for this ultra-competitive class at next weekend’s race: “If you win Le Mans, all the people around the world know it,” says Ferrari’s endurance boss, Antonello Coletta.
How to sleep better according to your style
Scientists have discovered people fall into four distinct sleep groups, each of which has an impact on our overall health.
- Driving With Tony Davis
- Motoring
How do you win the 24 Hour of Le Mans?
The 24 Hour of Le Mans is the Olympics of motor racing, says 1998’s winner, who admits “you don’t really care” about risk when there are so many other things to think about.
