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Dutton challenges Albanese to nuclear election
Peter Dutton has pulled the trigger on the nuclear power plan the opposition will take to the next election, sparking concern about delays to the energy transition.
- Opinion
- Nuclear energy
Dutton is ready for a fight over his crazy-brave nuclear play
You only have to consider the political context in which the nuclear power pledge was made to understand the Coalition feels it is a risk worth taking, writes Phillip Coorey.
Mineral Resources to shut iron ore mines employing 1000 workers
Chris Ellison’s Mineral Resources will shut iron ore mines and look for jobs for about 1000 displaced workers in other parts of the company.
- Analysis
- Aviation
To list or not to list? IPO may not fly for next Virgin Australia boss
There are plenty of big questions for the airline’s next chief executive – including what the carrier will look like, and how it will be owned, in the long run.
UBS boss hails banking ‘trifecta’ as Swiss lender seals merger
The Asia-Pacific region is increasingly important for the bulked-up bank, and moving its global wealth head to the region has buoyed its Australian leader.
‘Dangerous escalation’: Jewish MP deplores attack on his office
Police have launched a manhunt after pro-Palestinian activists smashed windows and tried to set fire to Labor MP Josh Burns’ office.
- Exclusive
- Retail
City Chic sales smashed by 30pc, capital raise documents show
The women’s specialty fashion retailer is raising $27.5 million at a steep discount, investors were being told this week, with its bottom line deep in the red.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
DUTTON’S NUCLEAR PLAN
Locals might prefer nuclear to renewable poles and wires
Peter Dutton’s nuclear energy plan could win support from communities concerned about major infrastructure upgrades needed to get solar and wind power into the grid.
Nuclear no help in today’s energy supply crisis: industry
Energy-intensive industry says the Coalition’s nuclear plan delays action on emissions and doesn’t address energy security and affordability for the next decade.
Nuclear plan puts sovereign risk back into infrastructure: Contractors
The Coalition’s energy proposal rekindles uncertainty for a contracting industry counting on renewable energy to offset a slowdown in rail and road work.
Dutton challenges Albanese to nuclear election
Peter Dutton has pulled the trigger on the nuclear power plan the opposition will take to the next election, sparking concern about delays to the energy transition.
- Opinion
- The AFR View
AFR View | End nuclear ban. Don’t stop renewables
There is a case for considering zero emissions nuclear power but as part of a technology-neutral energy approach to generating reliable baseload power and firmed wind and solar generation.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Hack wipes $140m from Melbourne mansion-owning crypto king
Michael Egorov, who spent $59 million purchasing two mansions in Hawthorn, said I “don’t really live in Australia”. His curve token plunged last week.
QBE nears end of the road on reset as it ditches US middle-market
The ASX-listed insurance giant is hoping to shake off the last vestiges of a decade-long but ill-fated grab at the North American market with the wind down.
UBS boss hails banking ‘trifecta’ as Swiss lender seals merger
The Asia-Pacific region is increasingly important for the bulked-up bank, and moving its global wealth head to the region has buoyed its Australian leader.
Helia shares plunge as CBA shops around mortgage contract
The insurer shed almost a fifth of its market value after its biggest client, the Commonwealth Bank, said it would run a tender process for its existing contract.
NAB clarifies crypto strategy with investment in Zodia Custody
NAB Ventures joins Standard Chartered and Northern Trust on the register of London-based Zodia, revealing NAB’s crypto play may involve custody services.
- Analysis
- Aviation
To list or not to list? IPO may not fly for next Virgin Australia boss
There are plenty of big questions for the airline’s next chief executive – including what the carrier will look like, and how it will be owned, in the long run.
- Exclusive
- Retail
City Chic sales smashed by 30pc, capital raise documents show
The women’s specialty fashion retailer is raising $27.5 million at a steep discount, investors were being told this week, with its bottom line deep in the red.
Companies in the News
Search companies
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Markets
Rate increase ‘more likely this year’ after RBA’s tough talk
An increasing number of economists say the next policy meeting in August is “live” for a rate rise after the central bank’s language at this week’s meeting.
Here’s how investors should trade the US election
Goldman Sachs says these commodities are the best way to protect investments against the threat of a fresh wave of inflation.
- Opinion
- Monetary policy
Central bankers doing their best to silence 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.
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.
Opinion
Dutton is ready for a fight over his crazy-brave nuclear play
You only have to consider the political context in which the nuclear power pledge was made to understand the Coalition feels it is a risk worth taking.
Political editor
Dutton’s high-stakes nuclear gamble
The opposition leader is betting big on nuclear power, and Labor is delighted to take on his challenge.
Columnist
End the nuclear ban. Don’t stop renewables
There is a case for considering zero emissions nuclear power but as part of a technology-neutral energy approach to generating reliable baseload power and firmed wind and solar generation.
Editorial
Why JobKeeper may be part of our productivity problem
An anxious Reserve Bank of Australia is hoping for a pick-up in labour productivity this year to help alleviate the economy’s inflation problem.
Economics editor
Li’s visit may be as good as it gets for China ties
Dialogue is vital. But the reality for Labor’s “stabilisation” is that the strategic environment will continue to breed black swans and black elephants crises in the Sino-Australian relationship.
Geopolitical analyst
Central bankers doing their best to silence 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.
Columnist
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
Men still winning the best-paid federal jobs
The Commonwealth public sector leads the private sector on gender equity, but women still earn $19,000 less on average.
China’s ‘predatory’ tactics justify critical mineral subsidies: Kennedy
Treasury secretary Steven Kennedy says China’s dominance of critical minerals justifies the government’s taxpayer support for rare earths the world needs.
Under poll pressure, Burke slams Setka ‘thuggery’
The CFMEU has demanded Labor back down on its law to break up the union, saying it will set a “terrible precedent”.
Set an ATAR-style uni entrance score for foreign students: Rizvi
If international students had to get a minimum grade to win a place – as domestic applicants already have to – fewer would be able to rort the visa system.
As China’s premier leaves, Australia launches full court press in PNG
The Albanese government will help PNG with domestic security as it tries to ward off Chinese efforts to gain influence in Australia’s closest neighbour.
SPONSORED
World
Russia’s Putin and North Korea’s Kim sign mutual defence pact
The pact could be a dramatic shift in the strategic balance in Northeast Asia by placing Russia’s heft behind North Korea.
UK inflation back to 2 per cent target for first time since 2021
While the fall in headline inflation in May will be welcomed by both Prime Minister Rishi Sunak and the BoE, it is likely to have come too late.
China’s copper glut soars in sign of stuttering economy
Copper inventories in Shanghai warehouses have reached their highest levels since 2020, as manufacturers rein in demand.
- 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.
Israel approves battle plans for Hezbollah, edging closer to war
A top US official is holding crisis talks in Lebanon as fears of an all-out war between Israel and Hezbollah grow.
Property
- Exclusive
- Office
Mirvac set to sell two office towers at discounts of more than 20pc
Pricing for the latest deals on the office towers in Sydney and Melbourne – worth close to half-a-billion dollars in total - shows just how far values have fallen.
Poor energy-efficient properties becoming stranded in Europe
More than half of 250 European commercial real estate portfolio managers surveyed acknowledge that more than 30 per cent of their assets are stranded.
Nuclear plan puts sovereign risk back into infrastructure: Contractors
The Coalition’s energy proposal rekindles uncertainty for a contracting industry counting on renewable energy to offset a slowdown in rail and road work.
Investor exodus gathers pace in Melbourne, Sydney
Higher tax burdens and weaker capital gains are prompting a growing number of property investors to sell out of Melbourne and Sydney.
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.
Wealth
Super funds fall short on unlisted asset valuations: APRA
Super funds are not revaluing their $650 billion unlisted asset portfolios enough, potentially hitting the prices paid by customers and their returns, APRA has warned.
- 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’.
Technology
McDonald’s scraps drive-through AI after customer gets bacon ice cream
Other malfunctions spawning mocking videos on social media have included hundreds of dollars’ worth of nuggets being automatically added to an order.
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.
Work & Careers
Australia had more female fund managers seven years ago
Industry efforts to hire more women in investment management have borne fruit. But the industry is struggling to get more women into portfolio manager roles.
Employers lure workers back to office with promise of their own desk
Hot desking took off during the pandemic as a way to save money amid a new era of hybrid work. Now some firms are having second thoughts.
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?
Companies switch on to new ways of staff training
A growing number of employers including law firms are developing short courses known as microcredentials in collaboration with tertiary institutions.
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.
