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Fed officials signal just one cut this year
US policymakers expect just one interest rate cut by the end of the year, and four in 2025, as inflation proves more resilient than previously thought.
- Live
- Markets Live
ASX to rise; S&P 500 resets closing record, jobs data ahead
ASX futures add 0.7pc, jobs data ahead. Wall St rose after US inflation came in lower than expectations, Fed flags rate cut in 2024. S&P 500 tops 5400 points. Follow here.
- Exclusive
- Healthcare
Private hospitals open books for urgent ‘health check’
Health Minister Mark Butler has launched an urgent review into the $22 billion private hospital system.
- Opinion
- Chanticleer
Through 50 years of change, Chanticleer’s mission endures
While the corporate landscape has shifted over five decades, the ingredients of the Chanticleer column remain the same: a healthy degree of scepticism, a dash of humour, and an eternal sense of curiosity.
- Live
- Need to Know
‘War will go on’ because Hamas chose not to accept deal: Blinken
Hamas has sent back an “unworkable” counter-offer for Gaza; Inquiry calls for strict new rules for big four consulting firms. Follow breaking news here.
Origin goes lean on wind, solar ownership, boosts returns
Origin Energy chief executive Frank Calabria says the country’s largest electricity utility will minimise the company’s ownership of wind and solar generation assets as part of a strategy to boost investor returns.
- Opinion
- Chanticleer
Big four can’t be allowed to stay in ‘grey zone’ of PwC scandal
The Senate report makes it clear the big accounting firms have fallen through the regulatory gaps. That structural problem must eventually be addressed.
Australia’s most influential corporate column unpacks the most important stories in business, markets and politics.
chanticleer celebrates 50 years
- Opinion
- Chanticleer
Fifty years on, it’s time to share the secret origin story of Chanticleer
I had lined up a major scoop to launch my first Chanticleer column on July 8, 1974, founding Chanticleer columnist Robert Gottliebsen reveals. Little did anyone know the drama and anguishing decisions that preceded it.
- Opinion
- Chanticleer
The top 21 moments in Chanticleer history
The Chanticleer column has charted the highs and lows of corporate Australia since 1974. Here are a few of the highlights.
- Opinion
- Chanticleer
‘Stories were dropping out of trees’: The roaring ’90s
The choice of a new Chanticleer columnist is a tricky task, writes former Financial Review editor Colleen Ryan.
- Opinion
- Chanticleer
Digital world wants, real world needs: Chook’s next 50 years
The battle for physical world assets shifts to those things that will underpin the digital world in the next 50 years. It will be a bigger battle, and Chanticleer will be there to cover it.
‘Topical, thoughtful, sometimes controversial’: Why I read Chanticleer
Ten of Australia’s most influential business leaders share their thoughts on Chanticleer and its impact.
pwc report
Inquiry calls for strict new rules for big four consulting firms
Parliamentary approval of contracts and a review of laws governing partnerships are among the final recommendations of a Senate inquiry into outsourcing.
What Senate inquiry said about big four, now trying to ‘rebuild trust’
The big four consultancies have welcomed the Senate’s final report into the sector, which largely avoided direct criticism of individuals and firms.
- Opinion
- PwC tax scandal
The consulting free-for-all in Canberra is coming to an end
A Senate committee’s recommendations go beyond changes made by the federal government after the PwC tax leaks scandal.
Greens call for accounting firms to be limited to 100 partners
The maximum size of accounting partnerships should be cut from 1000 to 100, and audit firms should be forced to separate their consulting divisions, the Greens say.
PwC banking expert questions truth of October 7 Hamas massacre
Melbourne-based Jim Christodouleas cast doubt on reports of sexual violence at the Supernova music festival, prompting anger in the Jewish community.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Labor’s flagship emissions scheme a ‘headwind’ for gas: Engie
Labor’s flagship renewable energy scheme could undermine the economics of gas power in the National Electricity Market.
Santos demands lawyers pay costs in failed anti-gas-project case
The EDO’s conduct was “so far on the wrong side of the acceptable line” it should have to foot the company’s legal bill, Santos argues.
This Rich Listers’ daughter is forging her own path in business
Georgia Geminder launched her own toothpaste at the start of 2020 after three years of research. Now she has found a new “boring” category to transform.
Bears emerge as Guzman y Gomez’s blockbuster IPO nears
Morningstar has told clients that the $22 initial public offering price is “too high” to what it considers fair value for the Mexican-themed fast-food chain.
Russian mining membership dogs global coal lobby
Now known as FutureCoal, the organisation says it is “agnostic” after appointing a Russian director. Its members include Yancoal, Whitehaven and Incitec Pivot.
Ructions at Morrow Sodali as it sues former M&A head
The proxy adviser secured an injunction in court against an ex-staffer, alleging he used confidential information to sign up clients for his competing business.
Weak dollar plays a part in $2.1b buyout of Adbri by Irish giant CRH
One of Australia’s largest cement groups will disappear from the ASX after 62 years, with one shareholder saying it was a “sad but predictable day”.
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Markets
Upbeat markets price in rate cut as US inflation eases
US President Joe Biden welcomed the news of falling inflation but said more needed to be done to reduce the cost of living.
Apple retakes crown as world’s most valuable company
The stock surged for a second session, on optimism about its AI-integration plans, dethroning Microsoft as the most valuable publicly traded company.
ASX to rise, Wall St gets boost from CPI and Apple
Australian shares are set to open higher. US prices cooled faster than expected in May. US bond yields tumble on rate outlook. Apple briefly leapfrogs Microsoft.
Need to own a bank stock? Citi says ignore CBA at your peril
While Commonwealth Bank is the least preferred major bank stock among brokers because of its lofty price tag, Citi believes Australia’s largest lender will continue to outperform its peers.
Slowing economy puts RBA rate cut on the cards: Minack
Macro strategist Gerard Minack says the cash rate is “restrictive enough”, while global borrowing costs are going to remain stubbornly high for years to come.
Opinion
The contradictions in Australia’s China policy
Australia will promote the visit by China’s Premier Li Qiang as evidence the relationship has “stabilised”. But policy tensions and hard choices are only increasing.
Columnist
Greens are a threat to Australia’s bipartisan tolerance
To have a political party standing side by side with protestors who call for the elimination of the Jewish state “from the river to the sea” is intolerable.
Robert Menzies Institute
The flaws in CSIRO’s anti-nuclear, pro-renewables report
The CSIRO must give a credible “apples with apples” comparison of nuclear and renewables to inform the energy transition debate.
Economics editor
Why 2030 targets are in trouble and Australia may fall short
In hindsight, the scale and pace of the task were underestimated by federal and state governments.
Energy expert
Carbon wars won’t help reach Australia’s climate target
The warning from the boss of one of Australia’s largest energy companies underlines the irrationality of self-imposed obstacles to all possible net-zero paths.
Editorial
Investors give a belated cheer to Apple’s AI foray
The tech giant’s strategy unveil has pushed its share price to records this week. But, in the background, safety and privacy concerns are also rising.
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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Dutton warns of recession as PM sidesteps over 2035 target
Anthony Albanese did not guarantee unveiling the 2035 emissions reduction target before the next election.
Labor, Coalition making progress towards higher aged care fees
The Albanese government hopes for a deal as early as next week on higher aged care fees for those who can pay.
PM shrugs off concerns over Chinese ownership of lithium plant
Chinese Premier Li Qiang’s planned visit to the lithium plant in Perth highlights the emerging global competition over critical minerals.
Experts question Qld toll road accounting ‘magic pudding’
Queensland’s plan to resume operating the state’s toll roads from 2051 would add $3.6 billion in value to the state’s balance sheet, figures show.
NSW unis in a sea of red, but worse to come
NSW universities struggled for a second year in a row, but their annus horribilis is still on the horizon.
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World
- Analysis
- World elections
Why Europe’s rightward shift won’t faze Aussie business
Both sides of politics in Europe will back industrial policies designed to onshore or diversify supply chains – and that’s the space where Australia plays.
Macron urges unity against surging far-right turmoil
The French president made the call after the centre-right Republicans ditched its chairman, who had called for an alliance with the country’s surging hard right.
All change as Prabowo prepares for the top job
Economic nationalism has been a constant in Indonesia and the incoming President has some firm views on the topic.
- Analysis
- World elections
Talks on EU top jobs kick off at G7 summit
A summit of G7 leaders hosted by Italian PM Giorgia Meloni will feature private conversations with the EC president as she seeks five more years in the job.
Britain’s economy stalls in blow for Sunak
Gross domestic product was flat in April compared with the previous month, a slowdown from 0.4 per cent growth in March.
Property
Vendors jack up asking prices as home values hit new peaks
Supply is driving rises in some areas, but in some suburbs, asking prices rose at the same time as listings went above the decade average.
Elizabeth Bay residents fight developer for more – not less – density
Fortis’ $214 million project in a Sydney inner harbourside suburb has put it at odds with city authorities and locals opposing more gentrification.
- Exclusive
- Luxury property
Restaurant titans behind Cumulus, Gimlet buy modernist Toorak retreat
Legendary Melbourne chef-restaurateur Andrew McConnell and his photographer wife Jo McGann have purchased a striking modernist home in Melbourne’s Toorak.
- Exclusive
- Luxury property
Former KPMG exec to sell Gold Coast mansion ‘crafted for indulgence’
One of the area’s most lavish waterfront properties has hit the market, complete with a man cave, jetty and cinema, and expectations above $15 million.
- Opinion
- Property Observed
‘Eyes wide open’: How to ride the private credit boom
Private credit for commercial real estate has never been stronger. It’s also running into trouble. “All of us need to be eyes wide open and alert. It is real estate and it is credit. Let’s not misprice the risks.”
Wealth
When it’s worth giving up government subsidies to stay home for longer
There may be more home care packages in the recent federal budget, but in some cases you would be better off financing care yourself.
Eight ways high earners can maximise their tax returns
The key message this tax time is to bring deductions forward and push income back.
What to do with $400,000 inheritance when you have no super
A windfall could give a woman living in her daughter’s granny flat access to three income streams.
Technology
- Updated
- Workplace culture
Canva co-founder calls for ‘wartime’ approach to staff performance
Cliff Obrecht says companies that let poor performance slide are forced to do big lay-offs, something the graphic design group headed for an IPO has avoided.
- Opinion
- AI
Why the growing ‘slop’ on your social feeds is dangerous
Like the other type of slop, AI-assisted search comes together quickly, but not necessarily in a way critical thinkers can stomach.
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.
Work & Careers
Inside Amazon’s art of decision-making
Janet Menzies, Australian country manager for the online retail giant, discusses business dinners and the surprising way decisions are made at the company.
‘Weak’ PM, Allan blamed over Setka’s AFL threat
Anthony Albanese and Victoria’s Labor government have been accused of failing to stand up to the CFMEU chief over demands the AFL sack its umpiring boss.
Life & Luxury
BYO is coming to a fine-dining restaurant near you
The trend is no longer confined to lower-priced eateries, which is good news for diners who have their own wine collections.
Inside the world of art nouveau visionary who defied nazis, communists
A new Alphonse Mucha exhibition at the Art Gallery of NSW will give Australians their first meaningful exposure to a giant of Czech culture.
Finally, a documentary about Midnight Oil
Paul Clarke’s ‘The Hardest Line’ is largely a celebration of the Oils that never ventures a word of criticism.
This woman knows exactly you should wear with your Birkin
Nadège Vanhee has re-energised women’s ready-to-wear while still honouring her fashion house’s classically elegant heritage.
