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Labor to introduce laws to break up CFMEU after Setka stoush
Workplace Relations Minister Tony Burke says “the status-quo is dysfunctional and cannot continue”.
Australia’s competition at best level in 13 years: report
Small nations including Singapore, Switzerland and Denmark led the latest international rankings.
A PE firm, two profit updates, and a $1b deal hanging by a thread
At stake is the future of back-from-the-almost-dead vessels owner MMA Offshore, which is rollicking after a life-saving recapitalisation.
NSW’s new $47b fund loads up on equities to chase returns
NSW’s TCorp will combine more than six funds into one big fund and shoot for higher returns. It will lean on equities to do the heavy lifting.
- Analysis
- China relations
Billions of reasons why Li was made welcome in the West
Chinese Premier Li Qiang’s visit underlined the importance of Western Australia to Australia’s trade relationship with China.
- Opinion
- RBA
Bullock tiptoes through a political minefield
The Reserve Bank governor has been trying to avoid blaming Canberra and state government budgetary blowouts for fuelling inflation, writes Karen Maley.
Brambles prepares offer for Loscam’s SE Asia business; bankers up
First and foremost, Greenhill’s marching orders are to secure Loscam’s South East Asia business.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
Edition
Fin Magazine – Paris 2024
Bienvenue to this special issue of Fin Magazine, a homage to Paris in its Olympic year.
NSW BUDGET
- Analysis
- NSW budget
NSW budget shows a $6b GST hit, but Mookhey says it’s double
NSW Treasurer Daniel Mookhey insists the state budget has been “ripped off” $12 billion in GST, even though his budget papers show a shortfall of half that amount.
NSW’s ambitious plan to build 30,000 new homes
The NSW government will intervene in the construction sector by releasing surplus land that will be used for home building.
Fights over pay rises challenge a bold prediction in NSW budget
A $10.7 billion windfall from soaring property taxes will pay for more public servants but won’t stop NSW posting deficits for nine straight years and risking its AAA credit rating.
- Exclusive
- NSW budget
NSW $113b fund manager faces shake-up
NSW’s TCorp is a top 10 Australian institutional investor and is the central borrowing authority of the state.
- Exclusive
- NSW budget
The secret reason behind NSW’s ‘nonsense’ claim on $12b GST shortfall
NSW’s AAA credit rating is on the line. The federal government, other states and rating agencies believe NSW made an error forecasting GST revenues.
tech tuesday
- Exclusive
- Funding
This ex-Young Rich Lister built a top media company, now he’s trying tech
Chris Wirasinha co-founded Pedestrian almost 20 years ago and bootstrapped the company until it was acquired by Nine. With Linkby, he’s taking a different path.
- Exclusive
- Start-ups
Say something bad about Canva? It can claw back staff shares
Documents seen by the Australian Financial Review show how Canva shares give the start-up leverage over former staff in a widely used industry practice.
How this Aussie bitcoin miner is cashing in on the Nvidia AI boom
Analysts say Australian-born, US-listed bitcoin miner Iren is sitting on valuable land and energy assets.
- Exclusive
- AI
EY looks to Microsoft as consultants seek AI sales edge
EY is giving all staff access to Microsoft’s new AI sales assistant in an effort to win tech-related advisory and software installation contracts.
‘Grandkids won’t learn to drive’: New driverless car push in Australia
Despite the spinning sensors and eerily self-turning steering wheel, self-driving vehicles quickly felt normal in our testing on the streets of San Francisco.
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Companies
Australia Post warns ‘clock is ticking’ on its regional bank services
The government-owned postal service says it wants to strike new, more expensive deals with lenders to prevent Bank@Post falling into financial loss.
NSW’s new $47b fund loads up on equities to chase returns
NSW’s TCorp will combine more than six funds into one big fund and shoot for higher returns. It will lean on equities to do the heavy lifting.
Construction insolvencies will level out, CBA says
After a few torrid years of collapses among builders and subcontractors, there are signs that conditions are going to normalise.
- Updated
- Payments
RBA flags BNPL fee crackdown in broader probe into credit cards
The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.
Beach looks to power generation, gas storage in turnaround plot
The Stokes-backed oil and gas producer’s new chief executive, Brett Woods, said he would sell non-core assets and reduce headcount by up to 30 per cent.
- Updated
- Gaming & wagering
Former AFL boss Gillon McLachlan takes on ‘legacy brand’ Tabcorp
He arrives at the company in the midst of a painful transformation and after the departure of Adam Rytenskild, who was being investigated for offensive language.
Chinese backer of Australian wine group nursing big losses
A Chinese investment group which took a large stake in McGuigan owner Australian Vintage seven years ago is down about $7 million on paper.
Companies in the News
Search companies
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Markets
Why Regal’s Phil King is shorting CBA
The Regal Partners investment chief has made the so-called “widowmaker” trade in betting against the nation’s largest bank.
ASX rallies 1pc as RBA leaves rates on hold; Fortescue drops over 5pc
Shares advance; Reserve Bank leaves cash rate unchanged at 4.35 per cent; CBA powers higher; Fortescue Metals slumps after $1.1 billion block trade. Follow here for more updates.
Bargain hunters eye brutal metals correction
Copper, aluminium and nickel prices have slumped more than 10 per cent from their May highs, creating a good entry point for investors to step back in, according to strategists.
The bitcoin ETF wave has arrived in Australia
VanEck is launching a cut-price bitcoin ETF as investors eye cryptocurrency and gold as hedges against geopolitical risk.
ECB, Le Pen call for calm on turmoil-hit market
France’s stock and bond ructions eased after the European Central Bank counselled calm, and Marine Le Pen sought to reassure spooked investors.
Opinion
What IPO disasters tell us about Guzman y Gomez’s $2.2b float
The Mexican fast-food chain float has split opinions among Sydney’s investing community, and revealed the deep scars inflicted by failed floats of the past.
Senior reporter
Albanese elevates diplomacy over the drum beat of war
Few can doubt the success of ‘stabilisation’ for the Australia-China relationship, but how might it work when applied to the region?
International editor
Prepare for yet another big EV adoption hurdle
Apartment owners and strata managers are unprepared for the costs and complications of securing building insurance for blocks with electric vehicle owners and charging facilities.
Columnist
Albanese ‘renews and revitalises’ ties with a very different China
It remains in Australia’s national interest to deepen both economic and diplomatic ties with our major trade partner, and continue to welcome China’s rise behind a rules-based order.
Editorial
Jobs boom means rate rise will be close call
It is becoming increasingly clear that a critical reason the economy is proving resilient to tighter monetary policy is a chronic shortage of labour.
Economist
Zionism is about Jewishness. So anti-Zionism is antisemitism
Exploring the issue from a legal perspective allows us to better understand what constitutes unlawful discrimination under various state and federal laws in Australia.
Lawyer
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.
Politics
Climate wars to escalate with Dutton to unveil nuclear sites
Peter Dutton will escalate the climate wars on Wednesday by announcing site plans for nuclear power plants.
Australia criticises China for sea skirmish in sign tensions remain
Improved communications between the Australian and Chinese militaries will not reduce the likelihood of potentially dangerous confrontations, experts warn.
‘Candid’ Australia-China meeting sparks new military dialogue
Military communications will be improved after recent near misses between Australian and Chinese defence personnel, while tourists will find it easier to visit Beijing.
Top earners and companies bear record tax burden
Newly released ATO data reveals the top 1 per cent of earners are forking out almost one-fifth of personal tax revenue.
Middle-aged, middle-income women lead drift away from PM
The “bill payers in the house” have soured on Anthony Albanese over the past 12 months.
SPONSORED
World
Putin vows trade, security with North Korea
The Russian president pledged his unwavering support in a letter published by North Korean state media on Tuesday ahead of his planned visit to the country.
Premier Li Qiang’s visit has Malaysia wanting more from China pivot
The absence of President Xi Jinping, who sent his number two in his place, has dejected some in the government, according to Malaysian officials and observers.
Farage vows ‘radical’ tax cuts to fix ‘Broken Britain’
The perennial populist outsider, who hopes to reshape the Conservative Party, has combined traditionalist social policies with a radical economic agenda.
From pariah to crucial US partner: How Saudi Arabia won back Biden
For Washington and Riyadh, the crowning achievement of this revitalised relationship would be the normalisation of ties with Israel.
Netanyahu dissolves war cabinet after key partner quits
The decision by the Israeli PM comes days after Benny Gantz, a centrist former military chief, resigned from the cabinet over the handling of the war in Gaza.
Property
- Exclusive
- Luxury property
$65m LA mansion built by collapsed developer Caydon on the market
The five-bedroom luxury home perched above Sunset Boulevard has only just been completed by a company associated with Joe Russo’s collapsed Caydon Group.
Buyers snap up ageing and empty office buildings for deep discounts
Bargain hunting in the US office sector might just be the tip of the iceberg, more a sign of quick deal-making than an indication that prices have hit rock bottom.
The suburbs where unit values are on the cusp of a new high
Low supply and intense competition for cheaper properties are fuelling big gains in unit prices.
WeWork has emerged from bankruptcy. What’s next?
The company’s re-emergence from bankruptcy arrives at a time when demand for office space remains weak overall.
Why house prices are surging once again around the world
In Australia, the US and parts of Europe, property markets have shrugged off higher interest rates to post strong gains – and there’s likely more to come.
Wealth
‘Active’ a dirty word in investing circles, high fees an issue: JP Morgan
JP Morgan executive Andrew Creber argues active managers are on the cusp of a comeback but passive investor Betashares says ‘no chance’.
- Opinion
- Sharemarket
Aussie tech stocks that could supercharge a portfolio
These seven companies have collectively returned an astonishing 1151 per cent since 2016.
Cbus tops list for super complaints
Cbus also paid $1 million in compensation claims to customers in the first half of the financial year.
Technology
Car subscription software company raises $3.95m
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
- Opinion
- AI
Better late than now: how Apple’s AI could have stayed in longer
It tells you something when even Apple, the company that rose to greatness on the back of lateness, has to come out with a product that isn’t quite ready.
How this senior consultant uses AI to get more work done
Kearney’s Anshuman Sengar says using generative AI tools to summarise meetings, write emails and research topics has helped him become more effective at work.
Work & Careers
Australia’s highest-paid jobs revealed
Surgeons have topped the list of highest-paid professions, taking home a total income of more than $480,000.
- Analysis
- CFMEU
Setka’s mystery motive for vendetta on AFL umpire boss
John Setka’s main justification to go after the AFL head of umpires – that he pursued an official for holding a one-minute silence over the West Gate Bridge collapse – may have never happened.
Life & Luxury
France has a plan to end fast fashion. Now Australia does too
As cheap clothing clogs landfill, the fix is in: tax it.
Europe’s wallet-friendly alternative to Lake Como
This 10-night Mediterranean cruise on a $775-million luxury ship is a great way to discover lesser-known ports.
Come to our wedding – and here’s a mood board for what to wear
Weddings today are designed within an inch of their lives, as one top planner put it. And that means you obviously cannot attend in random attire, however well-presented.
Far from being cancelled, Gauguin is getting a major exhibition
Regardless of the circumstances of their creation, the 130-plus artworks in the NGA’s winter blockbuster are imbued with the magical energy of Polynesia.
- Opinion
- EPL
Manchester City cannot be allowed to corrupt British soccer
The Abu Dhabi-owned soccer club wants to strike inflated sponsorship deals with companies linked to its owners.
