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    Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.

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    Tesla founder Elon Musk has the backing of his investors once again.

    The cult of Musk is alive and well. Now he needs to deliver

    Elon Musk’s massive pay deal has been re-approved by Tesla investors. But the billionaire needs to stop selling the same old blue sky and start delivering.  

    The ASX 200 is set to open lower.

    Shares fall; Musk’s pay approved, Deterra sinks on lithium pivot

    Shares lose 0.3pc. Telix scraps US IPO. Bank of Japan ahead. S&P 500 hits record high. Citi upgrades copper. Trump says he wants to trim US corp taxes. Follow here.

    Elvira Nabiullina, head of Russia’s central bank

    Why peacetime will be a problem for Putin’s banker

    For Elvira Nabiullina, head of Russia’s central bank, demilitarisation could trigger the economic meltdown she’s worked so hard to prevent.

    Employers lose more than 655,000 days of work to mental health claims

    Increased awareness around mental health and the rising cost of living are contributing to a big jump in workers’ compensation for mental health injuries.

    ‘None of his business’ Albanese warns Setka

    Ban on donations won’t be easy says Malinauskas; new age limit emerges for social media use; EU to impose multibillion-euro tariffs on Chinese electric cars. Follow the latest updates here.

    Setka’s threats against AFL umpiring chief may be illegal

    John Setka’s threats over Stephen McBurney could breach workplace laws and may even amount to blackmail, lawyers say, as minister Tony Burke condemned the union campaign.

    Chris Minns wants Sydney to feel like Brooklyn

    To encourage an urban renaissance, the NSW premier has a message for the city’s property developers: build, build, build.

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    chanticleer celebrates 50 years

    Robert Gottliebsen with other former Chanticleer columnists.

    Australian business is at a crossroads. Can we get out of our own way?

    Chanticleer’s 50th anniversary celebration showed Australia’s long period of prosperity and growth will be challenged by geopolitics, regulation and competition.

    Transurban CEO Michelle Jablko started dealing with Chanticleer two decades ago, when she was a banker at UBS.

    ‘Chanticleer for a day’ draws out three big issues

    Infrastructure planning, boosting equity markets and re-thinking social advocacy by companies are three things these movers and shakers put on Chanticleer’s agenda.

    Former Chanticleer columnist Ivor Ries.

    The leak that got away: Chanticleer on Foxtel’s $2b losses

    Seven former Chanticleer columnists reminisced about their biggest stories on Thursday to celebrate the column’s 50th anniversary. Here’s what they said.

    Big business’ Voice advocacy backfired: new Qantas chairman

    John Mullen said businesses should not be “completely anaesthetised” on social issues, but warned it can be dangerous for firms to back politicised causes.

    ‘Pretty surreal’: Transurban chief remembers ‘sexism’ storm

    Michelle Jablko’s appointment as ANZ CFO in 2016 was initially lauded, but then the bank’s reaction to criticism of her became the story.

    Review

    Prabowo Subianto

    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.

    J. Doyne Farmer.

    This physicist can prove that economics has it all wrong

    J. Doyne Farmer, an American complex systems scientist says the world is more predictable than we think, and he can prove it.

    Virtually no one can take a psychedelic drug and not know it.

    The trouble with psychedelics

    The gold-standard methodology for testing a drug’s efficacy, the double-blind trial, does not work for substances that affect the mind.

    AI could end India’s dominance in tech outsourcing

    This is not the first time an industry in the country has faced an existential challenge, although the last time was 300 years ago.

    White Britons are receiving special attention but don’t tell them that

    The most important ethnic group in British politics is the one nobody talks about.

    Features include the ability to save articles, dark mode and real time notifications.

    Get the latest business news on the go with the AFR’s new iOS app.

    Find out more

    Companies

    Markus Brokhof is keen for AGL to invest in more hydro facilities.

    AGL Energy says investment case for wind and solar is ‘tricky’

    But Macquarie Asset Management’s head of green investment sees plenty of opportunities for investors willing to “face into” these challenges.

    Judo Bank poaches APRA’s top bank supervisor

    Renee Roberts, who led the prudential regulator’s bank supervision teams, will from September join one of the companies she monitored as chief risk officer.

    Former PwC partner Wayne Plummer.

    Former PwC Australia partner flags legal action against firm

    A former senior partner, Wayne Plummer, has indicated he will sue the firm after being publicly linked to its tax leaks scandal.

    Deal maker: Sigma’s largest shareholder, HMC’s David Di Pilla - and a cousin of Chemist Warehouse’s Mario Verrocchi - and ACCC chairwoman Gina Cass-Gottlieb.

    Chemist Warehouse may have to sell stores to save merger

    Chemist Warehouse may have to sell off part of its store network to convince the competition regulator that plans to merge with Sigma would not lessen competition and lead to higher prices.

    CSR ends 62-year run on ASX as $4.3b takeover gets green light

    But some shareholders say that the price paid by France’s Saint-Gobain was too low, with a lower Australian dollar giving overseas buyers more firepower.

    Forrest lieutenant Julie Shuttleworth exits Fortescue after a decade

    Ms Shuttleworth’s departure adds to the growing list of executives who have left the Andrew Forrest-chaired mining and energy giant in the past year.

    Australian Vintage wants to revive Accolade Wine merger talks

    The market capitalisation of the wine producer has almost halved after its shares resumed trading following a three-week suspension.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    Elon Musk at Tesla’s annual general meeting.

    Tesla shareholders approve Musk’s $72b pay package

    The shareholder vote is a major win for the Tesla chief executive as he seeks to reassert control over the company.

    Paul Xiradis co-founded Ausbil in 1997 and has led it to become a $17.8 million investment powerhouse.

    Ausbil’s Xiradis more bullish than most on ASX growth stocks

    The 45-year market veteran is also considering whether to back Guzman y Gomez’s IPO, saying the fast-food chain will “capture the imagination” of investors.

     Dan White, managing director of Ray White Group

    Ray White founders seek investors for $1b lending bonanza

    The White family is seeking to raise $400 million for its second credit fund, which will provide loans to developers. It has already lined up $841 million of deals.

    ASX investors spooked by rising technology costs

    Shares in the equities market operator slumped 8 per cent after it revealed elevated capital expenditure over the medium term, as it continues with the CHESS fix.

    Sam Berridge’s resources fund is pumping out 30pc returns. Here’s how

    The portfolio manager of Perennial’s Natural Resources Trust reveals his fund’s “big winners” and explains why he is betting big on domestic gas.

    Opinion

    Why the government is desperate to cut immigration

    There are many reasons for Australia’s inadequate housing supply, but a population jumping by 2.5 per cent a year obviously compounds the immediate problem.

    Now is the time to write a new chapter in China-Australia relations

    China is willing to take Premier Li Qiang’s visit as an important opportunity to join hands with Australia to work from a new starting point.

    Xiao Qian

    Ambassador to Australia

    Xiao Qian

    Teals are ‘paying the piper’ while Dutton plays Russian roulette

    Peter Dutton reckons the cost of living doesn’t discriminate between the teal seats and the rest.

    Phillip Coorey

    Political editor

    Phillip Coorey

    Consulting pile-on wound back

    The argument for a more company-like corporate form and regulation of professional services partnerships raises two questions that will need thinking through.

    The AFR View

    Editorial

    The AFR View

    No truth in claim Dutton needs net zero to win teal seats

    When the reality of the energy transition dawns on the Australian public, the Coalition will be able to get away with leaving the Paris Agreement.

    John Roskam

    Columnist

    John Roskam

    The Fed treats itself to the luxury of time when it comes to rates

    The decision to sit pat highlights the very different approaches central bankers are taking as they try to rein in inflation while maintaining economic growth.

    Karen Maley

    Columnist

    Karen Maley

    Reports

    Chanticleer celebrates 50 years

    In 1974, Chanticleer revolutionised business journalism. This anniversary wrap celebrates 50 years of covering the corporate deals that shape the nation.

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    Politics

    Home Affairs Minister Clare O’Neil says the government is “closing loopholes” to bring an end to long-term temporary migrants.

    Migration finally turns a corner as reforms bite

    Net migration hit a record high of 547,000 in 2023, but in the last three months of the year numbers started heading in the opposite direction.

    Royal Prince Alfred hospital provides healthcare to those in quarantine, via virtual health.

    Help us or hospital system could fail: private operator

    One of Australia’s largest Catholic hospital operators says a review of the viability of the private sector must secure a viable business model.

    The jobless rate fell to 4 per cent in May

    Job losses near record lows as unemployment falls to 4pc

    The share of workers losing or leaving their jobs has fallen to a near-record low as the labour market shows remarkable resilience to higher interest rates.

    Cost of living will outweigh climate, even in teal seats: Dutton

    Peter Dutton says his rejection of Labor’s climate change target will not stop the Liberal Party winning back critical teal seats.

    Simon Holmes à Court silences nuclear speech

    A nuclear energy scientist had his speech cancelled by Engineers Australia after social media pressure from the Climate 200 founder.

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    World

    Labour leader Keir Starmer launches his election manifesto in Manchester.

    UK’s likely next PM copies Albanese election playbook

    Labour leader Keir Starmer unveiled a policy manifesto containing almost no new policies, confirming just a handful of tax tweaks if his party is elected on July 4.

    President Joe Biden and Ukrainian President Volodymyr Zelensky sign a security agreement on the sidelines of the G7.

    Biden vows weapons, aid for Ukraine ‘until they prevail’

    The US president has signed a new security agreement with Volodymyr Zelensky and the G7 plans $75 billion in aid to Ukraine in its war against Russia.

    Car manufacturing has been affected.

    US jobless claims jump to the highest level in 10 months

    The number of unemployment claims rose 13,000, higher than economists expected but still within a range that reflects a healthy labour market.

    Argentine Senate passes Milei reform bill as protests rage outside

    The bill is key to overhauling an embattled economy, and includes plans for privatising public firms, granting special powers to the president and spurring investment.

    Musk says shareholders approving his $75b pay package

    It’s D-Day for the Tesla CEO as shareholders vote on his controversial pay package – with major implications for the billionaire and his company.

    Property

    Not just severely unaffordable but now ‘impossibly’ so: Sydney is the world’s second-least affordable city for housing, according to the latest Demographia report.

    ‘Impossibly unaffordable’ housing a social risk: report

    The level of housing price relative to incomes poses an “existential” risk and demands a rethink of urban growth boundaries, a new global report says.

    NSW Premier Chris Minns said it was critical the expectations of ministers were made clear.

    Chris Minns wants Sydney to feel like Brooklyn

    To encourage an urban renaissance, the NSW premier has a message for the city’s property developers: build, build, build.

     Dan White, managing director of Ray White Group

    Ray White founders seek investors for $1b lending bonanza

    The White family is seeking to raise $400 million for its second credit fund, which will provide loans to developers. It has already lined up $841 million of deals.

    Council pushes plan to double rates for landlords, as cover for new homes jump

    The Greens-controlled council is one step closer to imposing different rates for landlords and owner-occupiers after passing a motion on Wednesday night.

    FOMO driving investors into property, especially in these suburbs

    Experts reveal their top picks for suburbs that could deliver strong capital gains and rental returns for investors over the near to medium term.

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    Wealth

    ATO warns property investors not to ‘double-dip’ on expenses

    Rental property taxes can be tricky, and that’s before you add in the strata factor.

    The four biggest mistakes downsizers make

    Many people overestimate how much they will have left over after downsizing, but smaller doesn’t necessarily mean cheaper.

    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.

    Technology

    Canva co-founder Cliff Obrecht at the Morgan Stanley conference.

    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.

    Craig Federighi, senior vice president of software engineering at Apple, shows off Apple 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.

    Craig Federighi, senior vice president of software engineering at Apple, shows off Apple AI.

    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

    Why this top 100 CEO goes undercover shopping

    Melbourne’s Chadstone shopping centre showcases the very latest in fashion. It’s also a test case for how the big mall owners manage their vast real estate.

    Kim Williams shares Paul Keating’s lesson on art of persuasion

    The ABC’s new 72-year-old chairman plans to use a speech next week to argue a tsunami of American and British content is diluting Australian culture.

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    Life & Luxury

    How to select a scent, by a perfume world master

    Estee Lauder bought his company in 2015, but Frédéric Malle keeps evolving. Now he’s forged an alliance with Acne Studios.

    Australia’s star winger of the 1980s David Campese.

    Who were the 15 greatest Wallabies of all time?

    In a new book, author and indispensable rugby commentator Gordon Bray had a brutal task picking from the 900 players who have represented Australia over 125 years.

    Aston Martin DB12 Volante.

    Why Aston Martin’s $633k convertible is perfect for the open road

    The DB12 Volante is the latest addition to the British marquee’s stable of high-performance convertibles.

    John Henry.

    The billionaire sports investor gunning for golf

    John Henry turned a commodities fortune into a sporting empire. Now, he’s taking on the sovereign wealth that is rewriting the rules of the game.

    Restaurateur Jessi Singh at hhis new restaurant, Bibi Ji in Carlton.

    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.

    From the gallery