- Opinion
- Chanticleer
Costello departure won’t end questions hanging over Nine
The media giant’s cultural crisis is far from over, but CEO Mike Sneesby and new chairman Catherine West have a long list of strategic questions to reckon with.
‘An insult’: Andrews reignites fight over plaudits for politicians
There are calls for former Victorian leader Daniel Andrews to be stripped of the nation’s top honour.
- Opinion
- Energy transition
Libs won’t pretend Labor’s 2030 targets are on track
The claim the Coalition is pulling out of the Paris Agreement is a lie. But we won’t be shy in holding the government to account, writes Ted O’Brien.
ASX to slump as hot US job market cools chance of rate cuts
Global stocks pulled back after employment figures came in well above expectations. In Australia, traders now say there is a 30 per cent chance of a rate cut.
Why pokies giant Aristocrat is doing a U-turn on computer games
Aristocrat Leisure went big into developing non-gambling computer games less than a decade ago. Now it is considering an exit, in full.
Lion to close pioneering craft brewery with beer staying out of favour
A string of independent craft brewers have already collapsed. Now Lion and its major rival, Asahi, are feeling the impact of higher costs and fewer drinkers.
- Opinion
- East Asia Forum
Modi faces skills shortage in India superpower vision
Prime Minister Narendra Modi must adopt a paradigm shift in development to accelerate India’s growth, writes Rojan Joshi.
Far-right surges in EU elections | 2000 education jobs lost already | Questions still hang over Nine
BIG READS
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.
- Exclusive
- Tax avoidance
‘Poacher turned gamekeeper’: The tax commissioner’s secret money trail
Before he was tax commissioner, Chris Jordan was involved in a transfer from a mystery company in the Isle of Man and a casino junket venture that turned out to be a Ponzi scheme.
- Analysis
- Australian economy
The NDIS is a taxpayer sinkhole. Is it an economy killer too?
The uncontrolled growth in the NDIS is contributing to Australia’s inflation and productivity problem, economists and business operators say.
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.
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
Consultants costing NSW twice as much as public servants: report
The government report also found the big four consulting firms were “increasingly doing generalist work” for the NSW public sector.
The rare bright spot in a difficult consulting market
The Australian arm of Alvarez & Marsal has expanded to 54 managing directors and 300 staff since its launch and is now generating “tens of millions” in local revenue.
Bill targeting Chinese imports could smash Cettire’s US sales
Barrenjoey analysts have told clients the so-called Amercas Act could force up prices on the luxury marketplace, making customer retention much more difficult.
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.
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.
- 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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Markets
Ellerston Capital snaps up IDP Education stake, hoping for rebound
The boutique fund manager’s Chris Kourtis told clients that the immigration restrictions weighing on the share price had created an “attractive entry point”.
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.
Opinion
Australia’s cost-of-living crisis has reached a critical juncture
Without policies to raise productivity, fiscal spending will increase inflation and require higher interest rates or higher inflation if interest rates do not respond, Warwick McKibbin.
Contributor
Money to be made anticipating the next central bank pivot
After a period of synchronised monetary policy among developed markets, 2024 presents a new phase of divergence, writes Arian Neiron.
Contributor
Recessions are nasty and shouldn’t be engineered to tame inflation
Talk of a need to increase the cash rate is misguided – especially so when the main culprits behind the 3.6 per cent inflation rate are identified.
Former Labor minister and economist
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
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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AFR readers back Dutton’s assessment of climate targets
Almost 70 per cent of readers believe Australia is unlikely to meet its “aggressive” emissions reductions targets.
2000 jobs lost in foreign education sector the ‘tip of the iceberg’
The Albanese government’s migration cuts have triggered staff cutbacks at colleges and recruitment firms, and at least one university has imposed a hiring freeze.
Dutton worse than Morrison on climate change, says PM
Anthony Albanese has accused the opposition of putting Australia’s international reputation at risk by abandoning the 2030 net-zero targets.
Businesswomen, pandemic premiers lead King’s Birthday gongs
Ex-KPMG chairwoman Alison Kitchen, Australian Payments Plus’ Lynn Kraus and UniSuper director Nicolette Rubinsztein are among high-profile women recognised in the King’s Birthday honours.
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.
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World
An insider’s account of Germany’s AfD: ‘The wrong people stayed’
As Germany’s far-right celebrates a strong performance in European parliament elections, a former leader argues the party has lost its way.
‘Record result’: Far-right parties surge in EU elections
Far-right parties have made significant gains in the EU elections, performing well in Germany and comfortably winning the vote in France.
- Analysis
- World elections
Macron’s snap poll a desperate roll of the dice
By calling an election, Emmanuel Macron may be hoping that, when presented with the choice of installing Marine Le Pen in office, French voters once again baulk, writes Ben Hall.
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.
Netanyahu rival Benny Gantz quits Israel’s government
The former general and centralist figure accused Benjamin Netanyahu of mishandling Israel’s war in Gaza, in a blow to the prime minister’s show of Cabinet unity.
Property
Why some investors are now avoiding the Perth market
Perth’s home values are still increasing at a rapid clip, but some experts are starting to sound caution.
ISPT to raise $250m for big push into small malls
ISPT head of funds management Matthew Brown says recent transactions have given the platform confidence that values are near the bottom of the cycle.
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.
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
Can a gadget prolong your life? These headphones might
The Shokz OpenSwim Pro won’t just help you stay fit and healthy in the pool or on the streets – they’ll also help you stay in one piece.
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.
Work & Careers
Gender, sexuality reveal plan for boards should go further: advocates
A proposal that boards state the sexuality, age, Indigenous heritage and disabilities of directors does not go far enough, say advocacy groups and some directors.
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.
Life & Luxury
Live it up like a millionaire in Whistler’s newest luxury lodge
The Wedge Mountain Lodge & Spa has everything you can dream of and then some. At around $30,000 a night during the peak Christmas/New Year period, this stay is one for the bucket list.
Chopard jewellers open first exclusive hotel in Paris
Guests can enjoy grand surroundings and five-star hospitality above the Scheufele family’s famed watch and jewellery boutique at the prestigious Place Vendôme square.
Electronic duo Justice return to the dance floor
After an eight-year hiatus, the disruptive Parisian dance music duo unleash an overdose of electronica à la française.
Alcaraz joins all-time greats with French Open triumph
Spain’s Carlos Alcaraz became the youngest man to capture Grand Slams on all three surfaces after his epic French Open final win against Germany’s Alexander Zverev.
How TV doctor Michael Mosley revolutionised weight loss
Michael Mosley’s many grateful fans are mourning the loss of a truly good doctor after a body was found. He was 67.
