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Dutton pledges seven nuclear power plants by 2050
Peter Dutton has pulled the trigger on the nuclear power plan the Opposition will take to the next federal election, under which the first unit would be operational in a just over a decade,
- Opinion
- Chanticleer
Why Nvidia’s rise is stunning – and scary
It’s no surprise Nvidia has become the world’s most valuable company, but it’s 43 per cent surge in just a month suggests emotion is driving the stock – and the broader market.
- Live
- Need to Know
Qld, NSW push back on nuclear power plans
State leaders are reacting to the opposition’s plan for seven nuclear plants; Chalmers and Albanese say nuclear path is ‘economic insanity’. Follow updates here.
- Analysis
- US election
Trump, Biden switch election battle to capture middle America
Joe Biden and Donald Trump are starting to give some ground to catch the all-important voters in the centre who are still not convinced about either candidate.
- Live
- Markets Live
ASX slips; energy stocks gain, Helia Group sinks
Australian shares open modestly lower. Nvidia extended its rally, surpassing Microsoft. Traders fade RBA rate bets. Follow updates here.
- Opinion
- Monetary policy
Central bankers are going out of their way to douse rate cut hopes
Investors are responding to high rates with a novel investment strategy – keeping the bulk of their money in cash and using the rest to punt on AI stocks, writes Karen Maley.
- Exclusive
- Investment banking
Ex-UBS trio joins crowded investment banker space with new M&A firm
Denison Partners, the latest start-up advisory outfit, will leverage the bankers’ experience in real estate, funds management and financial services.
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
European renewables outfit TagEnergy takes $4b wind farm bet
The company, backed by the same investment firm behind sector giant Neoen, has locked in financing from major local lenders and the government’s green bank.
Ellerston Capital-backed software start-up sells for more than $US100m
The purchase of Camms, a risk and compliance software developer, delivers a payday for the little-known Collins family from Adelaide and its big finance backers.
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Nvidia eclipses Microsoft as world’s most valuable company
Shares of the chipmaker climbed 3.5 per cent, lifting its market capitalisation above Microsoft, just days after it overtook Apple.
- Opinion
- Monetary policy
Fed needs to cut interest rates sooner not later
The delay by the US central bank in easing monetary policy could jeopardise a soft economic landing.
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.
- 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.
What happened overnight? Nvidia became the world’s most valuable company
Australian shares were set to open modestly lower. Nvidia extended its rally, while Microsoft and Apple pulled back. US consumers slowed down.
Opinion
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.
Editorial
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
The RBA is refusing to act like inflation is a problem
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
SA donation ban will cut off grassroots democracy
By pushing debate into third-party organisations, South Australian Premier Malinauskas’ proposed election laws would force politics to move to the extremes.
Lawyer
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
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.
RBA warns on budget spending surge
The board warned that big-spending government budgets risked stoking demand, and conceded inflation was proving stickier than expected.
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.
- 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.
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.
SPONSORED
World
Netanyahu slams Biden for withholding weapons
The Israeli prime minister’s strong message is designed to appeal to right-wing allies, and the White House said it “did not know what he’s talking about”.
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
- Culture wars
The educated elite is destroying America
Progressive culture has spread from the universities to national life, triggering a backlash that benefits political populists such as Donald Trump.
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
- Opinion
- Income tax
How to cut tax if you have an employee share plan
Don’t assume the taxman won’t come knocking – this is how it works and what you can do to soften the blow.
‘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.
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
How Australia can become a world leader in green hydrogen
A short course is being developed to give electrical engineers the specialist knowledge they need to work in the emerging green hydrogen sector.
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.
Life & Luxury
Her perfumes cost up to $30k. Now they’re for sale in Australia
Lyn Harris is one of the world’s most celebrated noses. How does that even happen?
How four minutes a day can boost your fitness
Exercise snacking, where you fit several simple micro-workouts into your day, is an ideal solution for busy execs.
When in Rome, leave in a private jet: on board a $76.5k group tour
There’s nothing like having a plane chartered for you to take the stress out of travelling between Europe’s great cities and iconic sites.
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.
