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First visit by senior Chinese leader in seven years confirmed
Chinese Premier Li Qiang will dine at an Australian winery, signalling the rapprochement with an industry devastated by Beijing’s trade sanctions is complete.
Three ASX tech darlings just broke into the big leagues
The little-known small cap tech stocks are set to join ranks of better-known peers after all rallying more than 100 per cent in the past 12 months.
- Exclusive
- Legal industry
Meet the lawyer bringing a $1b class action war chest to Australia
Pogust Goodhead plans to launch three class actions by year’s end and a further seven in the next 18 months.
Labor $11b election pitch ‘deliberately’ sends budget into red
Queensland Labor has launched a raft of cost-of-living spending that could help reverse its election fortunes but also send total debt to $172 billion by 2027-28.
- Analysis
- Political leadership
Dutton is going right. Conservatives love it
But party moderates fear their leader’s tough policies on climate change and immigration could cost inner-city seats, writes Aaron Patrick.
- Live
- Markets Live
ASX drops 1.3pc; Bapcor leaps 14pc on Bain bid
Shares slump; AGL to buy $150m Kaluza shares; Beach Energy flags $400m hit; Bain bids for Bapcor; FIRB approves Saint-Gobain’s CSR buy. Follow updates here.
Risks lurk beneath the sharemarket as stocks tumble
Pundits are warning that Tuesday’s sell-off from near record highs could be the start of a bigger sell down, with stocks pricing in too much good news.
World View: Australia’s leading foreign experts interpret global events for you. Insights delivered every Wednesday.
tuesday tech
- Exclusive
- AI
Meet KymTax: KPMG’s AI tool can do a day’s mundane tasks in an hour
The big four firm has built an AI research assistant for tax professionals to speed up how quickly they can provide clients with tax advice.
‘First draft fairy:’ How corporate lawyers are using game-changing AI
Legal eagles inside some of Australia’s best-known companies are training themselves to stay competitive in the AI era.
What Canva, Rokt and Aussie VCs have learned about US IPOs
After Life360’s oversubscribed Nasdaq debut fund managers predict 2025 will see a rush of private tech companies testing the public markets. Canva and Rokt are watching closely.
- Exclusive
- Funding
Under-the-radar Melbourne software firm worth $90m after VCs pounce
Atticus has built a roster of clients including BHP, CBA and numerous top law firms for its software that verifies documents are truthful.
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.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
BPay wants ‘misleading’ crypto exchange to be taken down
The payments giant is pushing to take down a little-known cryptocurrency exchange that it says has infringed on its trademarks and misled consumers.
Japan’s Itochu delays plans to exit Aussie thermal coal
The conglomerate joins Glencore in reassessing its decision to exit the fossil fuel with energy security prioritised amid rising geopolitical tensions.
Bonza terminates hundreds of staff but wage payments up in the air
The budget carrier only began flying last year, and was backed by US private equity fund 777 Partners. It collapsed at the end of April.
- Updated
- Energy
AGL goes big on ‘smart’ energy platform with $150m Kaluza stake
Its major rival, Origin Energy, has made a highly successful investment in a similar business, Octopus Energy. The platform co-ordinates supply and billing.
McGuigan owner Australian Vintage seeks $20m lifeline to tackle wine glut
The acting CEO says a merger is still logical for the ailing wine group as it battles an industry wine oversupply after being spurned by bigger rival Accolade Wines.
- Exclusive
- Mergers & acquisitions
Competition concerns stalk Chemist Warehouse’s $8.8b Sigma deal
A Singaporean hedge fund warns the “smart money was playing dumb” on a deal that means the merged group will be the only major player in Darwin and control 68 per cent of Melbourne’s market.
Bruce Gordon, 95, bulks up interest in Nine
The billionaire increased his interest in Nine to more than 25 per cent, giving the billionaire businessman outsize influence just hours before a board meeting that resulted in the resignation of the company’s chairman Peter Costello.
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Markets
Markets hit after Macron calls snap French election
The euro fell and European markets tumbled after far-right parties made big gains in EU elections, prompting French PM Emmanuel Macron to call a snap poll.
How China’s ‘big short’ moment catapulted Tribeca to big returns
Tribeca’s John Stover first heard rumblings about China property giant Evergrande back in 2021. A few months later, he began shorting the world’s largest housing market.
- Opinion
- Interest rates
Jobs report kills hope on the Fed to cut rates
Investors fear the ruddy health of the US economy could persuade officials to hold off on cutting rates until after the November presidential election, writes Karen Maley.
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”.
- Opinion
- Interest rates
There’s 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, creating opportunities for astute investors.
Opinion
Why Dutton is hitting Labor on climate targets
Peter Dutton is taking aim at Labor’s 2030 emissions reductions targets as unrealistic to try to reset the debate on nuclear power.
Columnist
Climate pivot is Australia’s next China opportunity
The visit by Premier Li Qiang is an opportunity to consolidate our strategic relations with the world’s green economic powerhouse undergoing an era-defining transformation.
Australia China Business Council
EV charging network needs urgent upgrade
Electric vehicles will only become more popular – but the power supply to charge them is not keeping up with the pace.
Columnist
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
Europe’s populist tide hits new and dangerous high
The overarching danger of the governing failures by European elites that have fostered populism is a weakening of the Western alliance’s support for Ukraine.
Editorial
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
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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- Exclusive
- Trade unions
Split over ‘unbalanced’ ACTU policy on Israel-Gaza
A Left-aligned union leader has claimed officials quashed debate over Gaza at last week’s ACTU Congress by allowing criticism of Israel without mentioning Hamas.
- Exclusive
- Water buyback controversy
$300m for river communities as Plibersek moves to save the Murray
The government has pledged $300 million to support regional communities that will be affected by sending an extra 450 gigalitres of water down the Murray
‘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.
- Exclusive
- International students
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.
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.
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World
Why Emmanuel Macron went all in against Marine Le Pen
European elections in France have long been seen by voters as protest votes against the incumbent. So why is the president risking everything with his snap poll?
- Analysis
- World elections
Meet the young, telegenic far-right leader upending France
Far-left leader Marine Le Pen’s protege is 28-year-old selfie-loving university dropout Jordan Bardella, who is popular with young people and pulling in votes.
UN Security Council backs Gaza truce, piling pressure on Netanyahu
The UN Security Council passed a US resolution backing US President Joe Biden’s Gaza ceasefire plan, as the US steps up pressure on Israel and Hamas to end the war.
- Opinion
- World elections
Europe’s real threat is not the far-right
The far-right populists who won big at Europe’s weekend elections are blind to the bloc’s severe economic decline, relative to Asia and the United States, writes Max Hastings.
Markets hit after Macron calls snap French election
The euro fell and European markets tumbled after far-right parties made big gains in EU elections, prompting French PM Emmanuel Macron to call a snap poll.
Property
Ultra-wealthy are betting on San Francisco’s comeback
Forget the gloomy forecasts of a doom loop. Powered by an AI boom and rebounding real estate demand, the city has halted population decline and is adding jobs.
Yours for just $30k. Expats hunt homes in rural Japan
Millions of abandoned homes dot Japan’s countryside, the result of an ageing population and declining rural economy. They are being sold at rock-bottom prices.
How a $2m retrofit stacks up for investors
Two-thirds of Australia’s current buildings will still be standing by 2050, the target year for net zero emissions. Boosting their energy efficiency is crucial – and pays off.
Smallest block in Chatswood sets a street record at $2m
Listings in Sydney and Melbourne fell to their lowest level since Easter, but auction numbers are due to jump dramatically this week before the winter slowdown.
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.
Wealth
How stage three tax cuts can save you $322,000 on your mortgage
Directing tax savings to a mortgage can pay off handsomely over the long term.
Knowing the four personality types is key to better habits
Is your 2024 not going quite to plan? Here’s how to establish healthier habits in FY25.
- Opinion
- Property investment
How the ultra-wealthy are preparing for a property uptick
When Rich Listers hit go on commercial real estate projects, it’ll be a sign that we’re close to a market turnaround.
Technology
- Analysis
- AI
OpenAI insiders warn of a ‘reckless’ race for dominance
The campaign comes at a rough moment for the artificial intelligence giant. It is still recovering from an attempted coup last year and faces legal battles with content creators.
AI power shift as Apple brings ChatGPT to iPhones with OpenAI deal
Apple has made its long-awaited entrance to the artificial intelligence battle being waged by the world’s biggest companies, with a major overhaul of Siri and apps across its devices.
- Opinion
- AI
Tim Cook controls the iPhone, so he’s now the new AI kingmaker
Apple gets to decide which company gets access to the more than 2 billion active users and on what terms.
Work & Careers
Cranbrook settles with former headmaster
Nicholas Sampson says he has been “vindicated”, but he still has an axe to grind with the national broadcaster over its “Four Corners” program.
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.
Life & Luxury
Pastry star Cédric Grolet draws cult following with his arty cakes
The French pâtissier was already world-famous for his trompe l’oeil treats. Then he started to show how he made them on Instagram.
Australia’s diving world champion fears heights
Cassiel Rousseau is one of the country’s gold medal contenders in Paris. Just tell him not to look down.
Eight tips to lose weight fast - and safely
Is the crash diet back? Science now suggests that rapidly losing a lot of weight could be a beneficial strategy for health – if you do it carefully.
We loved the Cube e-bike (but also couldn’t stand it)
Depending on your family status, Cube’s new Longtail cargo bike is either a ute or a people mover.
- Driving With Tony Davis
- Motoring
Why Australian drivers will embrace Cadillac’s fully electric SUVs
GM global design chief Mike Simcoe predicts EV will prevail, as the first of the American luxury brand’s new vehicles get ready to roll into Australia.
