Gas shortage warning exposes deep energy mess
Low wind power amid a cold snap is threatening to create a gas shortfall – exposing the effect of supply restrictions and jeopardising the Coalition’s nuclear ambitions.
ASX to rise, S&P 500 struggles near record highs
Australian shares are set to edge higher as futures reversed direction. Nvidia, Apple and Tesla pulled back, dragging on the Nasdaq. S&P 500 briefly tops 5500.
- Exclusive
- Nuclear energy
Switkowski backs nuclear push, Dutton promises costings
Ziggy Switkowski says nuclear power has a role to play in the zero-emissions energy mix and would deliver a positive return to taxpayers.
- Opinion
- Chanticleer
Winners are grinners at Guzman y Gomez, but real test to come
TDM Growth Partners’ initial $40 million bet has delivered a massive return. But while first-day profits are nice, it’s long-term success that counts.
- Opinion
- Investing
The fund meant to save Australia held ‘sham’ meetings
The $15 billion National Reconstruction Fund is struggling to find investments, but it is great at holding meetings.
Super funds set to surprise on the upside next week
The expected returns were driven largely by strong performances from overseas equities, Chant West found.
- Exclusive
- Australian economy
Tax cuts will prolong rate pain: directors
Economic uncertainty and the energy transition are among the top issues being debated in our biggest boardrooms.
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DUTTON’S NUCLEAR PLAN
Nuclear to wreak ‘catastrophic damage’ on renewable energy
Clean investor groups say the Coalition’s scheme will take too long, cost too much, and is incompatible with timely and cost-efficient energy transition.
Tech no hurdle for Coalition’s nuclear plan
Several proven technologies would fit the bill for the opposition’s nuclear expansion plan, while Australia has a head start on nuclear regulation, experts say.
UK’s nuclear plant will cost nearly three times what was estimated
Expert analysis of nuclear power in Australia and the experience of countries overseas suggests the Coalition may have to spend $60 billion on its energy plan.
- Opinion
- Nuclear energy
Why I welcome a nuclear power station in my backyard
I have never been against some solar and wind power. My message is that we need a balanced mix of energy types.
- Opinion
- Canberra Observed
Dutton is prepared to take risks, but he is no onion eater
The signature difference between what the Coalition unleashed on Wednesday and the debilitating climate fights of the past is that both parties are operating from the assumption that emissions need to be reduced.
review
Why Israel doesn’t care what the world thinks
The international community thinks Tel Aviv is fighting a war of choice. Israelis doesn’t see it that way, says US writer and author Bret Stephens.
The man who foresaw the rise of campus antisemitism
Melbourne philosopher Frank Knopfelmacher was a world-class critic of totalitarianism. His remarkable prophecy from the 1960s is coming to ominous fruition.
Defamation, disclaimers and the truth of ‘Baby Reindeer’
Throughout cinematic history, made-up stories have pretended to be true.
- 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.
- 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.
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Companies
Guzman y Gomez founder’s wealth jumps $60m in first seconds of trade
The former Wall Street hedge fund trader was not the only company insider to have their wealth skyrocket thanks to the Mexican-themed restaurant successful IPO.
- Updated
- IPO
Guzman y Gomez IPO pop to $3 billion lifts hopes for listings
The Mexican-themed restaurant chain’s value topped $3 billion on its debut, and there are hopes this will rekindle a stagnating market for local sharemarket listings.
- Updated
- Wine
Treasury Wine’s profits buoyed as Penfolds goes all in on China
Treasury says Penfolds profits will grow 15 per cent this year, but margins will fall as the company spends more rebuilding its export business to China.
- Updated
- Cryptocurrencies
Launch of ASX’s first bitcoin ETF sparks price war
The launch on Thursday morning has drawn a strong response from competitors operating on a rival exchange.
MinRes weighs up rail fleet sale as axe falls on iron ore mines
But the company, run by billionaire Chris Ellison, said demand remained strong and that closures of the operations had nothing to do with concerns about price.
Mastercard’s call to save open banking
If Treasury can iron out the teething issues, the government’s consumer data right is ready for take off, according to a new report from the US payment giant.
Financial Review Australia’s most trusted newspaper brand
The Australian Financial Review has again been ranked the nation’s most trusted newspaper brand, as overall trust in the media declines across the board.
Companies in the News
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Markets
BoE keeps rates at 16-year high despite inflation fall
Policymakers held rates held at 5.25pc and signalled that policy would stay restrictive until the risk of inflation overshooting their target had dissipated.
- Opinion
- Inside China
China’s banks feel the sting as problem loans mount
China’s deepening housing market crisis is eroding the balance sheets of the country’s largest state banks.
Why the chances of a rate rise are higher than you think
Traders are largely ignoring the prospect of higher borrowing costs, despite the Reserve Bank’s growing concerns about still-high inflation, rate specialists warn.
Wilson’s Oberg is tipping 50pc upside in this small-cap stock
Wilson Assets Management’s Oscar Oberg is bullish on Iress even as its share price has tanked. He also like G8 Education and reveals why he is looking to buy up retail stocks again.
Shares slip; Guzman y Gomez surges, Bank of England ahead
Bank of England, Swiss National Bank to hand down rates decisions. Guzman y Gomez targets more than 1000 stores in Australia. Bitcoin fund lists on ASX. Follow updates here.
Opinion
Dutton is prepared to take risks, but he is no onion eater
The signature difference between what the Coalition unleashed on Wednesday and the debilitating climate fights of the past is that both parties are operating from the assumption that emissions need to be reduced.
Political editor
Small bank targets a niche product the big four have long neglected
Enthusiasm about the challenge from neobanks to the banking sector has come and gone, along with several start-ups. But Avenue Bank has its own plans.
Columnist
Can big burritos save public markets?
We won’t know for many years whether Guzman y Gomez investors have overestimated Australian’s appetite for Mexican-themed restaurants.
Editorial
Time to promote a woman as deputy chief of Navy
The officer second in charge of the Royal Australian Navy will shortly rotate, opening the way for a historic first appointment of a female.
Defence expert
Why next week’s Biden v Trump debate is so important
A set piece clash between Joe Biden and Donald Trump will turn less on policies than on manner and appearance. What they say will matter less than how they seem.
Columnist
CFMEU break-up overdue
The real source of John Setka and other union bosses’ political power remains the institutional privileges unions are granted by Australia’s archaic industrial relations framework.
Editorial
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
Government moves to snatch control of students away from universities
The Albanese government is stepping into interventionist mode, planning to say how many students can study at a particular university and in what courses.
Warship deployed as China, Philippines clashes raise tensions
The navy has dispatched its most powerful warship to exercise with Asian navies, in a test for improved communications with China to avoid dangerous incidents at sea.
Victoria’s $14b Metro Tunnel has been delayed and will cost more
The bill for Melbourne’s long-awaited Metro Tunnel has spiralled past $12.8 billion, in yet another cost blowout for a major Victorian project.
Fast-track regional migration moves mooted
Labor has flagged abolishing occupation lists for immigrants looking to settle in regional areas.
Australia urged to list Iran’s enforcers as terror group
Canada’s designation of the Iranian Revolutionary Guards Corp as a terrorist group has put pressure on the Albanese government to follow suit.
SPONSORED
World
US jobless claims linger near 10-month high
Applications for unemployment benefits have remained subdued over the past year, as the labour market showed resilience.
How China became a scientific superpower
From plant biology to superconductor physics, the country is at the cutting edge.
Warship deployed as China, Philippines clashes raise tensions
The navy has dispatched its most powerful warship to exercise with Asian navies, in a test for improved communications with China to avoid dangerous incidents at sea.
Chinese carmakers urge Beijing to hit back at EU tariffs
Carmakers reportedly called on their government to retaliate by imposing tariffs on imported European vehicles with high-powered engines.
Even Rishi Sunak could lose his seat, according to some polls
Seat-by-seat analysis by Savanta and Electoral Calculus found the Tories are on track to win just 53 seats in next month’s vote, an all-time low for the party.
Property
- Exclusive
- Commercial real estate
Rich List Snow family sets sights on Canberra’s next landmark
It is the first major project launched by Capital Property, the owner of Canberra Airport, since Terry Snow stepped down from active management last month.
Scentre’s bargain-hunting lands it $308m stake in Adelaide mall
The Westfield owner has set up a fund with Barrenjoey to buy a half stake in Tea Tree mall, in a deal that was struck at a 12 per cent discount to book value.
GreenFort Capital targets $800m land lease portfolio
There’s a growing snowball of players and money rolling into the residential property play on one of Australia’s biggest demographic changes.
Sydney house prices tipped to rise 8pc to $1.76m median in 12 months
House prices across Sydney, Brisbane, Perth and Adelaide are predicted to hit records within 12 months, but Melbourne and Canberra will fall short, Domain says.
- Investigation
- Property development
Bankrupt developer’s plan to repay $131m: start a new firm with mum
Andrew Bodnar’s empire went bust last year, taking self-funded retirees and a champion swimmer down with him. But he’s back in business to clear the massive debt.
Wealth
The great share transfer: Tax-effective tips for inheriting stocks
Nearly $5 trillion will be passed on over the next decade. But advisers warn it’s easy to fumble a pricey portfolio if you’re not careful.
Why avoiding Coles and Woolies will save you 25pc
A basket of everyday groceries is $17 cheaper at Aldi, research by consumer group Choice shows, with little difference between the big two supermarket chains.
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.
Technology
Need to get up to speed on gen AI? Here’s how
Workers who know how to use AI are expected to eventually replace those who do not. Four experts explain how and where to level up your skills.
Online shopping has become a giant fake-product machine
TikTok is better than any other digital platform for turning cult favourites into global bestsellers – and making counterfeiters money.
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.
Work & Careers
- Exclusive
- Australian economy
Tax cuts will prolong rate pain: directors
Economic uncertainty and the energy transition are among the top issues being debated in our biggest boardrooms.
Skilled refugees could unlock $9b in extra GDP
Maths graduate Wissam Chabo applied for 100 jobs before getting work in a local cafe. Research shows skilled migrants are badly underutilised, even during Australia’s skills shortage.
Life & Luxury
How to keep off the kilos after stopping weight-loss jabs
Until now, those prescribed the radical treatments have been warned that they may have to stay on the drugs for life – or revert to their former size.
- Driving With Tony Davis
- Motoring
Is Lexus’ plug-in hybrid the best NX on the market?
From pieces that will make your home pop to fun Euro-summer fashion accessories, we have ways to make you spend.
Why Permira got cold feet over Golden Goose IPO
After more than 10 months of preparation, the Italian footwear brand was seeking to raise about $966 million in a Milan listing as early as Friday. Then something went wrong.
The Sitting Duck movie review: A true story of a nuclear whistleblower
The role of Maureen Kearney is tailor-made for 71-year-old Isabelle Huppert, an actor with a unique ability to tell us everything we need to know, while giving nothing away.
Why Ancient Egypt is flavour of the year
If you missed out on the Ramses exhibition in Sydney, there are two more shows you can catch.
From the gallery
The Australian Financial Review Magazine
The under-the-radar watch brands worth your time
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