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Labor to introduce laws to break up CFMEU after Setka stoush
The move has come in response to union boss John Setka’s war on the AFL and is likely to fuel tensions between Setka and Labor.
Rate cut hopes fade as RBA sounds the alarm on inflation
Traders have pared back wagers for an interest rate cut in 2024 after the Reserve Bank said it was alert to upside risks to inflation.
Fed’s Williams says economy strong, needs more data for rate cut
New York Fed president John Williams said there were very good signs of supply and demand coming into balance.
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.
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.
Winners and losers in the NSW budget
Prospective homeowners, essential workers and developers are the biggest winners, while middle-income households facing cost of living pressures lost out
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.
- Opinion
- The AFR View
Mookhey’s NSW budget misinformation
The truth is NSW doesn’t have a revenue black hole. It has a problem with limiting the size of government.
- Opinion
- NSW budget
Mookhey may need a wages miracle to land this budget
NSW is sucking extra tax out of the asset-rich, property-owning class that has enjoyed a massive asset price boom, to spend more on government services, housing and public sector employees.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
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
- 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.
Market finds solace in McLachlan’s experience growing AFL bets
But others, like David Pocock, are increasingly unhappy about the “nexus” between the powerhouse football code and major wagering companies like Tabcorp.
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.
Coles and Woolworths supplier HS Fresh Food collapses
Disclosures show that the administrators, FTI Consulting, first discussed their appointment to help the ailing pre-packaged meals group 12 months ago.
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.
Companies in the News
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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.
Fed’s Williams says economy strong, needs more data for rate cut
New York Fed president John Williams said there were very good signs of supply and demand coming into balance.
- Opinion
- Chanticleer
15 ASX stocks that can win from a new capex ‘supercycle’
The twin peaks of population growth and Baby Boomer spending have insulated sharemarket investors against rate hikes. Now a new tailwind is emerging.
Rate cut hopes fade as RBA sounds the alarm on inflation
Traders have pared back wagers for an interest rate cut in 2024 after the Reserve Bank said it was alert to upside risks to inflation.
- Opinion
- IPO
What past 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.
Opinion
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 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
Five reasons to give first home buyers access to super
If a person owns their house it is equivalent to having sufficient superannuation to service rent for the rest of their lives. Thus, far from eroding superannuation, it is a core part of retirement savings.
Finance academic
Bullock speaks semi-hawkishly about inflation, but acts dovishly
Apparently the Reserve Bank thinks raising rates would trigger a technical recession, so don’t expect our inflation-driven cost-of-living crisis to end soon.
Economics professor
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
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.
Columnist
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
Australia won’t bow to China on critical minerals
The Albanese government will not rush to give Chinese entities access to billions of dollars in incentives aimed at boosting onshore processing of critical minerals.
Calls to ban WeChat grow after Canberra clashes
Mandarin-language social media platform WeChat has banned coverage of clashes that broke out between Chinese Australians during Premier Li Qiang’s visit.
Australia’s competition at best level in 13 years: report
Small nations including Singapore, Switzerland and Denmark led the latest international rankings.
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.
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.
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.
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.
- Opinion
- World elections
Le Pen or Melenchon? France faces a bleak choice
Razor-edge polls and tenuous alliances of political convenience point to a fragmented French electorate, volatile politics and uncertain economics.
US surgeon-general urges tobacco-style warnings on social media
Vivek Murthy’s call to action comes as regulators and legislators increasingly scrutinise links between social media use and children’s mental health.
Property
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.
- 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.
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
Builders sign up to CFMEU NSW’s 22pc pay rise
Buildcorp has become the first builder to sign up to the CFMEU’s new industry agreement in NSW, which leapfrogs John Setka’s Victorian deal.
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.
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.
