ECB delivers landmark rate cut - but no hint of next steps
The European Central Bank dropped interest rates to 3.75 per cent after saying the inflation outlook had improved markedly.
‘We will not walk away’: Allies return to the D-Day beaches
As world leaders gathered in Normandy to commemorate the 80th anniversary of D-Day landings, US President Joe Biden warned against surrendering to dictators.
Greens metamorphosis goes well beyond normal politicking
The party these days bears only a passing resemblance to the political conservation movement started by Bob Brown that fought nobly against habitat destruction, writes Phillip Coorey.
- Analysis
- Industrial relations
The power brokers behind the scenes at ACTU Congress
ACTU leaders Sally McManus and Michele O’Neil led a successful congress but they are assisted by powerful union leaders on the left and the right.
Union push to raise teen pay by up to 42pc
The retail and fast food workers union says 18- and 19-year-olds can drink, vote and join the army so they should be paid the same as people aged 20 and older.
Dogs of the ASX in for a hard time
In case a softening economy, Nvidia rally and consumer pain didn’t make it hard enough to make money, attention has turned to tax loss selling. There are plenty of candidates this year.
- Opinion
- Interest rates
Why the RBA won’t copy Canada’s interest rate cut
The economic and interest rate cycle in Australia is quite different to our Canadian cousins, despite the similarity in the structure of the resources-rich, medium-sized economies, writes John Kehoe.
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review
To keep great store managers, Walmart is offering up to $800,000
The American retailer has begun offering bonuses twice managers’ base salaries to supervise huge stores and hundreds of staff.
- Analysis
- China’s Great Slowdown
Why won’t Xi Jinping fix China’s dreadful economy?
Explanations for Beijing’s refusal to work on deep-seated problems include denial, ignorance and ideology.
Can Lazard’s new CEO convince its bankers to play nice?
Economist Peter Orszag has brought star power to the faded French investment bank but many of its staff aren’t convinced.
The world’s oldest privately owned bank is unrepentantly nepotistic
C Hoare and Co has been run by the Hoare family for 12 generations, who cater for a select group of wealthy individuals.
The front where Ukraine is beating Russia
Thanks to US weapons, the region Russia called an “unsinkable aircraft carrier” is now entirely within range of Ukrainian forces.
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Companies
China-linked investor fails in hostile bid for Northern Minerals board
Wu Tao, who was ordered by the federal government to sell stock in Northern Minerals, fell short in his push to gain a seat on the strategic rare earths miner.
Clyde & Co slashes partner numbers as cuts deepen
Global law firm Clyde & Co has asked six partners in its Australian arm to leave, as it struggles to turn a profit from low-margin work.
New unit to replace outside consultants in NSW
NSW will follow the federal government in setting up an in-house consulting unit to reduce spending on the major firms.
Fortescue accuses former execs of green iron IP breach
Andrew Forrest’s company has launched legal action against two of the architects of its clean energy pivot over claims they copied a green iron technology.
SkyCity suspends dividends, cuts guidance as troubles mount
The operator of casinos in Adelaide and Auckland warned of delays in major projects and a “challenging economic environment”, sending shares tumbling.
Telix greenlights $300m Nasdaq listing in search for deep pockets
It is the second ASX-listed growth stock to flag intentions to list in New York, with Life360, the developer of family social media apps, to debut overnight.
Bonza’s administrators concede sale hopes dead, staff to go
The low-cost airline collapsed in late April. A confidential creditors’ meeting was told on Thursday that administrators may consider legal action instead.
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Markets
A biotech boom for the ASX? This fundie thinks so
SG Hiscock’s Rory Hunter thinks CSL could “absolutely” hit $500, says biotechs are ripe for M&A, and reveals a hidden gem flying under the market’s radar.
Canada first major central bank to cut rates ahead of ECB
The move comes ahead of a European Central Bank meeting on Thursday, which is also expected to reduce rates. The Fed is scheduled to meet next week.
Iron ore to plunge below $US100 into a bear market: Citi
The broker has cut its iron ore forecasts for the second time in the past month, as analysts turn increasingly pessimistic on Australia’s chief export.
- Opinion
- Chanticleer
Forget Wall Street’s deceiving new record, recession debate is back
The unstoppable Nvidia might be propelling Wall Street to new highs, but there’s a growing debate about whether US recession fears will revive the infamous “Fed put”.
- Opinion
- Bonds
Investors cheer as interest rate pain finally appears to be easing
Investors now expect the Federal Reserve will cut rates in September, amid growing signs economic activity is faltering. And that’s pushing markets higher.
Opinion
Why the RBA won’t copy Canada’s interest rate cut
The economic and interest rate cycle in Australia is quite different to our Canadian cousins, despite the similarity in the structure of the resources-rich, medium-sized economies.
Economics editor
The politics behind the bipartisan U-turn on international education
Slashing international student numbers will devastate the business models for universities and many other international education providers.
Columnist
Red tape driving shift from public markets to private equity
While the downward trajectory of listed company numbers is a global phenomenon, changes to governance principles have exacerbated this decline here.
Economist
Modi’s reform wave falls short of majority
To reach the growth levels of China in its industrialising heyday, he will need to bring his new coalition partners along on a new wave of reform.
Editorial
Greens metamorphosis goes well beyond normal politicking
The party these days bears only a passing resemblance to the political conservation movement started by Bob Brown that fought nobly against habitat destruction.
Political editor
Pharmacists lost 60-day battle, but won war with Chemist Warehouse
The most powerful lobby group in the nation has convinced Labor to stop its competitor from giving customers a $1 discount on medicines.
Contributor
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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Albanese shoots down Greens arms-to-Israel claim
The government has rebutted accusations by the Greens it was selling arms to Israel and was therefore ‘complicit in genocide’.
Greens ‘fanning flames of division’, says besieged Labor MP
Federal Labor MP Peter Khalil has accused the Greens of spreading disinformation and speaking at protests that resulted in hate speech and physical harassment.
Unpicking the war of words on weapons exports to Israel
The opaqueness of Australia’s arms control regime means what the country is actually sending to Israel is largely unknown.
Labor urged to fund native title groups, stop ‘divisive’ activists
The National Native Title Council wants Labor to provide base-level funding to native title groups and change the laws to stop NGO activists.
Vic gas backflip may be too little, too late: business, Libs
After Energy Minister Lily D’Ambrosio approved the state’s first new gas project in a decade, business was appreciative but underwhelmed.
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World
Allies back on beaches to commemorate D-Day
As world leaders gathered in Normandy to commemorate the 80th anniversary of D-Day landings, US President Joe Biden warned against surrendering to dictators.
US, Australia: China ‘aggressively recruiting’ our fighter pilots
The Five Eyes security intelligence partners have accused the People’s Liberation Army of using Western military talent to train its aviators.
US clears way for antitrust inquiries on Nvidia, Microsoft and OpenAI
The Justice Department will take the lead in investigating whether the behaviour of Nvidia, the biggest maker of AI chips, has violated antitrust laws.
- Analysis
- World elections
Modi must bow to India’s new kingmakers to retain power
Narendra Modi will need to compromise as he starts his third term as prime minister after failing to secure an outright majority at India’s general election.
Israel strike on UN Gaza school kills dozens: local officials
Israel’s military said it targeted a Hamas compound inside the school in the Gaza Strip, an attack local health officials said killed at least 30 people.
Property
Investors rush into housing at fastest rate in more than two years
Tight supply and rising yields – and expectations that will not change any time soon – are drawing investors back into the market.
Brisbane’s biggest penthouse could beat the city’s $20.5m record
The Riparian Plaza penthouse was bought off the plan for $7.37m in 2001 by John Pearce, soon after he pocketed $14m from the sale of Collection House shares.
Apartment sales boom – in the $1 million-plus price range
Soaring materials and financing costs are making most apartment projects unviable. But there’s a niche of the development market that is booming.
- Exclusive
- Luxury property
Shoe boss Daniel Agostinelli steps up his Toorak digs with $17.5m buy
The CEO of Accent Group and his wife have upgraded their Toorak base, among a flurry of sales in Melbourne’s priciest suburbs.
Great opportunity in hotels, but build-to-rent a ‘catchy title’: Pridham
Andrew Pridham says early in the recovery cycle is when you want to be buying alternative assets like accommodation and pubs, but returns are too low in build-to-rent.
Wealth
I have an older-style pension – has the government forgotten about us?
While legacy income streams were not addressed in the recent federal budget, there are steps you can take to make them easier to work with.
First home buyers have two weeks to score $12,000 tax break
Advisers say borrowers would be mad not to take advantage of the First Home Super Saver Scheme, but perceived complexity is turning them off.
The three types of people most likely to avoid high-end super tax
A new study shows a quarter of high-income earners tweak their finances to minimise the tax they pay on superannuation, and they are mostly self-employed, trust beneficiaries and women.
Technology
eSafety drops case against Musk’s X over bishop stabbing video
The online safety watchdog has abandoned its court case against X after suffering a legal setback.
Tough jail terms for deepfake porn peddlers under new laws
The creators and sharers of non-consensual sexually explicit material will face up to seven years’ jail under the new rules, which also put pressure on tech firms.
Medibank faces maximum $21.5 trillion fine in new cyber hack case
The privacy watchdog alleges the private health insurer failed to protect the details of 9.7 million customers, under a law that provides for a penalty of $2.2 million for each breach.
Work & Careers
- Analysis
- Industrial relations
The power brokers behind the scenes at ACTU Congress
ACTU leaders Sally McManus and Michele O’Neil led a successful congress but they are assisted by powerful union leaders on the left and the right.
- Exclusive
- Workplace
Domestic violence leave has been law for a year. Almost no one uses it
Employers are being urged to do more for victim survivors of domestic violence after a survey revealed new leave entitlements were hardly being used.
Life & Luxury
This robot knows how to corner
Roborock’s latest robot vacuum cleaner has an extension arm that sweeps 100 per cent into corners. Just don’t expect its mop to do the same
Great escapes: Solo kayaking along Bali’s northern coastline
The writer sets off on an odyssey through tranquil waters in a part of the world that will one day be reclaimed for an international airport.
How to dementia-proof your life in your 40s
Research shows that this decade plays a crucial role in predicting your future brain health – and nobody knows why.
Juggling your day job with a hobby after hours? This exec pulls it off
He’s a fan of actor Jack Nicholson but has to fit in his own passion for the stage with an executive role at a branding agency. How does he do it?
Queensland win Origin I after NSW’s Suaalii sent off
Queensland romped to their biggest ever win in Sydney and within one victory of a third straight series success in Sydney.
