Households cut into mortgage repayments as family budgets tighten
Existing mortgages are blowing out amid broader pressure on household spending and little indication that the Reserve Bank will lower rates.
US adds far more jobs than expected
US employers added a vigorous 272,000 jobs in May, as the economy showed resilience that will prove a boost to President Joe Biden.
RBA won’t be influenced by Europe and Canada on rate cuts
“It is probably fair to say that there is some secret sauce here that it is worth being particularly protective of,” says deputy governor Andrew Hauser.
How Australia became the NBA’s biggest money-maker outside the US
NBA says Australia is the highest revenue-generating market for merchandise and its streaming service, NBA League Pass.
Guzman y Gomez beefs up IPO offer to $335m
The Mexican fast food chain’s largest shareholder, TDM Growth Partners, will further sell down its stake to make way for Capital Research Global Investors.
- Opinion
- Chanticleer
What Australia’s great contrarian is buying – and avoiding
Soaring household debt will have ripple effects for ASX investors, according to Schroders’ head of Australian equity, Martin Conlon.
- Opinion
- Insolvency
The zombie corporate apocalypse has arrived
Nothing is OK about the rate of delinquencies in Australia and overseas. And it is only going to get much worse as rates stay high, writes Christopher Joye.
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review
How Donald Trump was created by a reality TV show
The Apprentice was an American fraud that ballooned beyond its creators’ wildest imaginations, one of the producers of the show says.
Unions are at new heights of power. Now they just need to retain it
In the rocky world of industrial relations, the policy pendulum swings from one extreme to the other depending on who’s in power.
Long walk to treaty resumes in a fractured federation
The Albanese government has backed away from a promise to strike a treaty with Indigenous Australians. In a federal policy vacuum, some states are picking up the baton.
A win for democracy as Modi’s BJP is taken down a peg
The surprising result should put to bed claims that India’s democracy is under threat, says former high commissioner Barry O’Farrell.
Westpac’s chief economist Luci Ellis’ sliding doors moment
It is rare people can point to a single, pivotal, life-changing moment but two events, 30 years apart, have shaped her career.
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Companies
Fortunes to be made as the private credit boom is going public
Once a cottage industry, private credit is now attracting billions of dollars, reshaping the financial system and minting new fortunes.
How Australia became the NBA’s biggest money-maker outside the US
NBA says Australia is the highest revenue-generating market for merchandise and its streaming service, NBA League Pass.
Lovisa investors remain bullish despite high-profile CEO exit
But brokers have downgraded the Brett Blundy-controlled chain as the executive who oversaw rapid international expansion, Spaniard Victor Herrero, leaves.
Newlywed Rupert Murdoch cancels grand return to Australia
Long said to be Rupert Murdoch’s favourite newspaper, The Australian is turning 60 next month. He won’t be there to celebrate in person.
Nine board meets hours after Costello incident with journalist
Nine Entertainment’s board met on Friday morning to discuss an altercation between its chairman and a journalist the night before.
How the land rights game changed with Juukan Gorge
Since the destruction of Juukan Gorge by Rio Tinto in 2020, there is a higher bar for native title agreements and increased approval times.
Workplace dispute draws in Westpac CEO, five other senior executives
A series of senior executives have found themselves drawn into a legal dispute with the bank’s former institutional strategy boss, Julia Patterson.
Companies in the News
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Markets
- Updated
- Monetary policy
ECB’s inflation worries have traders fearing a rate cut go-slow
The European Central Bank dropped interest rates to 3.75 per cent after saying the inflation outlook had improved markedly. But, it was stickier than expected.
ASX caps best week of 2024 as ECB cuts, commodities gain
Benchmark rallies 2pc over the week. Life360 hits Nasdaq boards. GQG lifts FUM. IDP Education rebounds. ECB cuts rate.
Poll toll: election shocks stun investors from India to Mexico
After surprises in elections around the world, nervous traders are looking to the UK and US where pre-vote polling has also been unpredictable.
Economy still too strong despite recession talk
Economists say consumer resilience shows there is still excess demand in the economy after a post-COVID spending boom.
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.
Opinion
Silence is not golden when it comes to Defence
Defence’s culture of secrecy can sometimes cause more trouble than it’s worth. It became obvious again this week.
Foreign affairs, defence correspondent
Why cryptocurrencies are surging again
Crypto enthusiasts believe bitcoin could soon eclipse its previous record high of close to $US74,000 amid growing cheer about interest rate cuts and hopes of looser regulations.
Columnist
New age of war hangs over D-Day memories
If the democracies want to avoid the kind of sacrifices endured by the D-Day generation, then they need to show more resolve than they have.
Editorial
Greens a danger to Australian multiculturalism
If left or right is allowed to politicise multiculturalism for completely cynical reasons, then it starts to unravel.
Editorial
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
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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RBA won’t be influenced by Europe and Canada on rate cuts
“It is probably fair to say that there is some secret sauce here that it is worth being particularly protective of,” says deputy governor Andrew Hauser.
Dutton spruiks gas and nuclear to win back Victoria
Opposition Leader Peter Dutton has used a speech in Melbourne to spruik gas and nuclear energy while attacking the teals, Daniel Andrews – and Sydney University.
Giles junks Direction 99, seeks end to immigration saga
The opposition says the changes to Ministerial Directive 99 do not go far enough and is vowing tougher action if elected.
Queensland Labor’s infrastructure bill soars to $107b
Treasurer Cameron Dick has flagged cost blowouts amid increased infrastructure investments ahead of next week’s state budget.
The man who made ‘saintly’ judge lose his cool
A biography of Sir Gerard Brennan reveals the family man who will be remembered for his Mabo judgment.
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World
- Analysis
- International affairs
Biden warns of new war as D-Day remembered
This might be the last significant D-Day anniversary to involve living veterans. But it’s the first to be overshadowed by a European territorial war.
Scared of resigning? An agency can take care of that
Quitting agencies are springing up across Japan as workers say some companies try to bully employees into staying.
UK tech tycoon Lynch cleared of HP fraud charges in $16.5b deal
Entrepreneur Mike Lynch had been extradited to the United States to face a criminal trial over the sale to HP in 2011, ending a mammoth legal saga.
A win for democracy as Modi’s BJP is taken down a peg
The surprising result should put to bed claims that India’s democracy is under threat, says former high commissioner Barry O’Farrell.
‘We will not walk away’: Allies return to the D-Day beaches
As world leaders gathered in Normandy to commemorate the 80th anniversary of the D-Day landings, US President Joe Biden warned against surrendering to dictators.
Property
- Exclusive
- Luxury property
Blackstone chief spends $13m to move down Mosman hill
Craig Newman and his wife, Anna, have seized a chance on the tightly held Balmoral slopes.
- Exclusive
- Luxury property
Low-key investor buys entire floor of luxury Sydney tower for $39m
Property investor Qing Zhong has forked out almost $39 million for an entire floor of Lendlease’s One Sydney Harbour.
Laundys add Sydney’s Light Brigade Hotel to pub empire
Family patriarch Arthur Laundy says he knows the Light Brigade Hotel well, having ridden his scooter around it as child when his parents owned the nearby Woollahra Hotel.
- Exclusive
- Luxury property
Historic waterfront home sells for about $16m in Balmain record
A historic home fronting Sydney Harbour has sold for about $16 million in Balmain East, making it the most expensive waterfront ever sold on the Balmain peninsula.
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.
Wealth
Nine tips for creating a successful family dynasty
Most dreams of creating a family dynasty are dashed within decades but a solid succession plan can save money and grief.
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.
Technology
Life360 boss hails ‘Goldilocks’ share price as it debuts on Nasdaq
But shares in the San Francisco-based company, which makes the popular daily tracking app, closed flat overnight after raising $150 million with the listing.
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.
Work & Careers
Scared of resigning? An agency can take care of that
Quitting agencies are springing up across Japan as workers say some companies try to bully employees into staying.
Unions are at new heights of power. Now they just need to retain it
In the rocky world of industrial relations, the policy pendulum swings from one extreme to the other depending on who’s in power.
Life & Luxury
Better than the real thing? How beauty dupe culture took over
Social media and young people hungry for luxurious cosmetics have led to a boom in cheap versions of expensive products. Companies are cashing in on the trend.
Portrait of ‘reluctant sitter’ Tim Winton wins Archibald Prize
Sydney artist Laura Jones has won the $100,000 award for her painting of the writer, who says he looks like he has “the weight of the world on his shoulders”.
Think you know this week’s news? Answer these 10 questions
Have you been paying attention this week? Test your knowledge across politics, business and world news.
Westpac’s chief economist Luci Ellis’ sliding doors moment
It is rare people can point to a single, pivotal, life-changing moment but two events, 30 years apart, have shaped her career.
![Emma Lewisham: “Skincare often focuses on repair [but] we focus on prevention.”](http://web.archive.org./web/20240607145608/https://static.ffx.io/images/$zoom_0.2164%2C$multiply_3%2C$ratio_1.5%2C$width_756%2C$x_388%2C$y_231/t_crop_custom/c_scale%2Cw_220%2Cq_88%2Cf_auto/3d2228a75602e354c337026b856f4023a2ed8a19)
Emma Lewisham wants to fix your skin problems (and help the planet)
The founder of the eponymous skincare brand left the tech world to create sustainable solutions, rather than just more beauty products.
