State spending splurge could delay interest rate cuts, warns Westpac
Governments are planning to inject more than $50 billion of stimulus into the economy in the year ahead, adding to inflation pressures, the bank has warned.
Setka’s ‘obnoxious and rude’ CFMEU fined for wet wipes blockade
The Federal Court has fined the CFMEU $109,000 for behaviour that a judge said was emblematic of the coercion that has plagued the construction industry for decades.
Gen Z demand makes Guzman y Gomez the hottest retail stock
About 30 per cent of all shares traded on Superhero, a popular online platform, were in the Mexican restaurant group on Thursday. Still, demand is falling.
Australia’s busiest sleepy little town isn’t fazed by nuclear
From a failing coal mine being propped up by the WA government to keep the lights to Australia’s biggest battery being built by Brookfield takeover target Neoen there is a lot going on in Collie.
Japanese eye investment in Australian nuclear rollout
Japan’s giant energy trading houses would actively consider helping to pay for a nuclear rollout in Australia in return for decades-long investment returns, industry insiders say.
- Opinion
- Energy transition
Dutton’s climate poll surge evokes Fightback! saga
The headline numbers confirm Peter Dutton is setting the agenda, but to stay on top he will need to prove how his nuclear plan will ease the cost of living, writes Laura Tingle.
- Exclusive
- International students
Unis ‘disingenuous’ about foreign student-research link: analysis
Universities are richer than they claim and spend less of their overseas student revenue on research than they say.
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DUTTON’S NUCLEAR PLAN
Investors see uranium riches if Coalition’s nuclear plan takes off
The country’s largest uranium developer could almost triple in value if Australia relaxed its restrictive position on the energy source, Morgan Stanley says.
- 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.
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 $60 billion on its energy plan.
review
The man who foresaw the rise of campus antisemitism
Melbourne philosopher Frank Knopfelmacher was a world-class critic of totalitarianism who watched the left turn on Israel.
How the tech elite went from disruptors to disrupted
Some of the world’s most powerful business executives allowed themselves to be seduced by Donald Trump.
Why Israel doesn’t care what the world thinks
The international community thinks Tel Aviv is fighting a war of choice. Israel doesn’t see it that way, says US writer and author Bret Stephens.
- Opinion
- Culture wars
Britain’s arts sector learns the cost of being too pure for finance
A bank and asset manager have withdrawn their sponsorship of music and book festivals in the UK after activists called for boycotts.
Defamation, disclaimers and the truth of ‘Baby Reindeer’
Throughout cinematic history, made-up stories have pretended to be true.
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Companies
Federal Court rules iSignthis misled the market
A Federal Court judge says payments company iSignthis and its former managing director John Karantzis misled the market, but ASIC had failed to prove that the boss knew about performance milestones and deliberately structured revenue to trigger share bonuses.
![Westpac chief executive of institutional banking Nell Hutton. “When I thought about where I could have an impact, it made sense to think about the big four [banks].”](http://web.archive.org./web/20240621114102/https://static.ffx.io/images/$zoom_0.4147%2C$multiply_2%2C$ratio_1.777778%2C$width_1059%2C$x_837%2C$y_125/t_crop_custom/c_scale%2Cw_140%2Cq_88%2Cf_auto/cd94f78169c2fc934117b043efc5b34161f75ab0)
From Goldman Sachs to Westpac, Nell Hutton is climbing the ladder
Having reached the top of the Wall Street giant by her mid-40s, the career banker has big plans to turn around Westpac’s once-dominant institutional bank.
The Jarden verdict on CBA’s digital home loan
The new mortgage product is not a credible threat yet to mortgage brokers, analysts say.
Skyrocketing gas prices intensify fears of shortage this winter
There are growing fears the long-forecast shortage in supplies in the south-eastern states will emerge this winter, hitting manufacturers hard.
Macquarie customer funds caught up in Keystone asset freeze
Customers using its online trading platform Wrap are caught up in ASIC’s investigation of Keystone Asset Management and the freezing of its funds’ assets.
Pilbara’s lithium growth plans immune to price pressure
Lithium exporter Pilbara Minerals says it can triple lithium production in a value accretive way even if prices remain near current levels.
Sluggish spending sends Kathmandu, Noni B profits to the wall
KMD Brands and Mosaic Brands, which both run a number of major clothing chains, are warning of steep falls in earnings as customers stay away from stores.
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Markets
Commonwealth Bank rally threatens to dethrone BHP as ASX top stock
A 25 per cent rally in the country’s largest bank has placed it within striking distance of the miner, which has been Australia’s most valuable listed company for more than two years.
Shares rise; CBA nears BHP as market’s largest company, MinRes dives
Miners fall again. GyG weaker. Retailers warn on weak sales as living costs rise. Japanese yen weakens on inflation data. US equities mixed. Swiss National Bank cuts rates. Follow here.
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.
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
- 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, writes Aaron Patrick.
Opinion
Nuclear election poses energy transition questions for both sides
The Coalition’s nuclear option deserves a proper debate, not the puerile meme scare campaign that Labor is running.
Editorial
Attention investors: the risk of a sovereign debt crisis is back
The financial market volatility induced by the political dramas in France show the world is moving into a new risk regime.
Columnist
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 Australians’ 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
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
- Analysis
- Australian economy
Why our spooks and economists are teaming up to manage China
Treasury Secretary Steven Kennedy and chief spook Andrew Shearer are leading a new economic security regime that will have far-reaching consequences for business and investors.
Bravery award for cop who stopped Bondi Junction killer
NSW Police Inspector Amy Scott, who ended the stabbing rampage at Bondi Junction Westfield in April, accepted an award for her bravery on Friday.
Media bosses warn ‘toxic’ Meta is blackmailing Labor
The heads of major media organisations say Meta’s refusal to renew about $70 million in commercial deals with news outlets will likely lead to job losses and newspaper closures.
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.
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.
SPONSORED
World
Putin’s Asia tour seen as show of defiance to the West
Analysts are scrambling to assess the significance of agreements struck by the Russian leader in North Korea and Vietnam.
This secret action by the Philippines will ‘infuriate’ China
It has secretly reinforced a dilapidated warship marooned on a South China Sea reef that’s at the centre of recent clashes with China.
Betting scandal tops off chaotic week for UK politics
Rishi Sunak said he was “incredibly angry” to hear that his party colleagues were being investigated over allegedly placing bets on an early announcement of the general election.
Putin signs deals with Vietnam to offset Moscow’s growing isolation
The visit by the Russian President follows fly-ins by Chinese and American leaders last year, with Vietnam’s “bamboo diplomacy” on full display.
- Analysis
- Property prices
Australians aren’t alone in their housing pain
Affordability and supply have become big issues in the US as immigration and high interest rates further strain the market – a scenario all too familiar in Australia.
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
Can I do anything to maximise my tax return this close to June 30?
Though the end of the financial year is just days away, there are still some last-minute ways small businesses can reduce their tax liabilities.
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
Do you know this week’s news? Answer these 10 questions
Have you been paying attention this week? Test your knowledge across politics, business and world news.
The day everything changed for Young Rich Lister Tash Oakley
For the 33-year-old who made her millions in swimsuits and Pilates, her business was literally her body, then suddenly it simply couldn’t take it any more.
- Driving With Tony Davis
- Motoring
Is Lexus’ plug-in hybrid the best NX on the market?
A PHEV is either the perfect compromise or an expensive and unnecessary one, depending on your situation.
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.
Renaissance renditions of Bee Gees? Only at one festival
With portraits ‘singing’ Aussie pop classics, fires in the botanic gardens and dinosaurs at the zoo, Adelaide’s Illuminate Festival wants to lure you out this winter.
From the gallery
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