Peter Costello resigns as Nine Entertainment chairman
The former federal treasurer’s position had been in the air after a run-in with a reporter at Canberra Airport last week.
Businesswomen, pandemic premiers lead King’s Birthday gongs
Ex-KPMG chairwoman Alison Kithcen, Australian Payments Plus’ Lynn Kraus and UniSuper director Nicolette Rubinsztein are among high-profile women recognised in the King’s Birthday honours.
- Opinion
- Climate policy
Dutton’s climate gamble carries domestic and global risks
Peter Dutton’s climate switch will do nothing whatsoever to help win back the teal seats which he needs to form government, writes Phillip Coorey.
British TV presenter Michael Mosley found dead on Greek island
British TV presenter and healthy living advocate Michael Mosley has been found dead in a rocky area on the Greek island of Symi, just metres away from his destination, local mayors told Reuters on Sunday.
For many Israelis, freeing of hostages was a reason to celebrate
Jubilant crowds gathered spontaneously, cheering, singing and waving Israeli flags outside the homes of the four freed hostages.
- Exclusive
- Investment banking
ANZ’s suspected market manipulation could have cost taxpayers $80m
As part of its investigation, regulators have interviewed executives and traders about unusually large profits from a $14 billion transaction in April last year.
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.
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Weekend Reads
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.
The creative force who persuaded Malala to appear in a comedy show
The creator of “We Are Lady Parts’, a show about an all-girl punk band, wants people to see Muslim women as more than trauma victims.
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.
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.
smart investor
$100,000 may be the new norm for city home deposits
With a standard 20 per cent deposit, Australians need to have saved a median of $100,000 to enter the property market in capital cities.
Why the proposed new $3m super tax is simpler than you think
But the devil is in the detail, so the potential for complexity lies in how the “proportion” and “earnings” amounts are worked out.
- 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.
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.
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.
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Companies
- Exclusive
- Investment banking
ANZ’s suspected market manipulation could have cost taxpayers $80m
As part of its investigation, regulators have interviewed executives and traders about unusually large profits from a $14 billion transaction in April last year.
Selling Sunrise: Inside Qantas’ 22-hour ultra-long-haul flight
Can Qantas boss Vanessa Hudson pull off her predecessor’s dream of non-stop travel between Sydney, Melbourne and London? Getting this right will be key.
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.
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.
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.
Bernie Brookes’ retail business emerges from administration
The ex-Myer boss owns Colette and The Daily Edited. Just two months ago, his business was tipped into voluntary administration, but has emerged a much smaller group.
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.
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Markets
Strong US jobs growth dashes hopes of interest rate cut
Wall Street stocks ended slightly lower after stronger-than-expected US jobs data prompted traders to slash bets on an interest rate cut in September.
US adds far more jobs than expected in sign of economic health
US employers added a vigorous 272,000 jobs in May, as the economy showed resilience that will prove a boost to President Joe Biden.
- 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.
Opinion
ANZ has a lot at stake as ASIC crawls over its bond trading activities
The rumblings in the market are that the investigation is making those on all levels of the bank uneasy. If it isn’t, it really should be, writes Jonathan Shapiro.
Senior reporter
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
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
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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by LDVPolitics
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.
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.
Revealed: The shady industry taking a holiday on the NDIS
Unregistered disability service providers are marketing holidays worth up to $20,000 that the taxpayer ends up funding, exposing a fundamental weakness in the NDIS.
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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.
These banks hold the most money in Singapore’s $3.4b scandal
The last of those arrested for their involvement in Singapore’s biggest laundering case have pleaded guilty, paving the way for the next steps in the scandal.
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.
Danish prime minister attacked, man arrested
Mette Frederiksen was assaulted by a man in Kultorvet public square in the centre of the Danish capital Copenhagen, local media reported.
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.
Property
The buyers jumping into Australia’s housing market
Even with 16 straight months of gains and repeated records for house prices, buyers appear willing to take their chances. The question is why.
- 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.
- 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.
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.
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
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.
- 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.
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
The Aussies fuelling a travel boom that’s defying the cost crunch
Interest rates and inflation are up, but hundreds of thousands of Australians are still managing to holiday abroad this year – sometimes helped by mum and dad.
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.
Life & Luxury
Can’t find the boat you want? For $2.3m, Sam will help you build it
Property development isn’t always a 9 to 5 job, Sam Beck says, so he created a hobby business custom-building multimillion-dollar catamarans.
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.
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.
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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.
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.
