- Exclusive
- Superannuation
New blow to Labor’s tax hit on super
Government plans to lift the tax rate on super accounts of more than $3 million have suffered a blow, with key Senate crossbenchers opposed to the changes.
ASX to rise, Nvidia extends sell-off
Australian shares are set to open higher. Oil retakes $US86 a barrel. Nvidia sheds 6.7pc. Bitcoin tumbles near 8pc, trading below $US59,000. S&P 500 slips.
The ‘magic and mundane’ leadership style of award winner Danielle Wood
The chairwoman of the Productivity Commission was selected as the overall winner for her contributions to economic policy and a preparedness to take an unpopular position in key national debates.
- Analysis
- Fashion retail
Cettire downgrade cracks market’s brittle trust
New battlegrounds have been drawn after a shock profit downgrade halved Cettire’s sharemarket value.
‘Drought’ hits wind power despite investment billions
Generation from wind farms in the National Electricity Market since April 1 is roughly flat compared with the same quarter in 2021 despite 2500MW of capacity being added.
Vision Super weakens ESG policy, buys up Whitehaven shares
The fund, which sells itself to customers as environmentally conscious, has watered down its climate investment promises as “green hushing” continues to rise.
CEO pay goes green, but details lacking on performance measures
It’s one thing to set CEO remuneration based on climate change goals; it’s another to be able to properly measure them.
- Digital Life With John Davidson
- Digital Life
Back from the dead, the Windows laptop is better than ever
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
tuesday tech
- Exclusive
- Quantum Computing
Cashed-up Diraq says it can win the quantum computing race
It hasn’t got as much money as government-backed PsiQuantum, but the UNSW start-up says it makes up for that in qubit size, as it banks a big funding round.
- Exclusive
- Funding
Start-up funding bounces back, as two-speed sector emerges
New data shows early signs that the tech funding winter is thawing, with Aussie tech deals up 30 per cent on this time last year.
- Opinion
- Digital Life
With the new Surface Laptop, Microsoft catches the MacBook
Microsoft has finally done it. It has broken free from Intel and produced a laptop right up there with Apple’s hitherto incomparable MacBook Air.
- Exclusive
- Venture capital
Tenacious Ventures lives up to its name with $18m raise in hard market
Members of the Schwartz, Denholm and Murdoch families have committed money to the agricultural technology investor that has overcome hurdle after hurdle.
- Exclusive
- Cybersecurity
‘Merger of equals’ as two Aussie tech services firms become one
The combined business will compete in a growing but crowded field as firms scramble to up their cybersecurity and add AI to their services.
women in leadership
What’s your best career tip? Award winners share theirs
Lead with compassion, don’t assume you know all the answers, and play to your strengths: winners in the Women in Leadership Awards share advice that has helped them.
‘What she’s doing is shaping not just Telstra, but Australia’
Cybersecurity boss Narelle Devine, the winner of the Tech & Telco category, uses lessons from a decade in the Navy to fight off international hacking attacks.
‘You need to trust your gut’: How to build an empire
The founder and CEO of MCo Beauty, the winner of the Retail category, knows she is underestimated. It’s what drives her to succeed.
Versatile risk-taker who shines when the going gets tough
Washington H Soul Pattinson’s Jaki Virtue swears by the power of ‘unknown sponsorships’, as she takes out the Financial Services - Non-banking category.
- Opinion
- Women in Leadership
‘Inclusion, resilience, empathy’: How modern leadership is changing
Modern leadership is about more than successfully deploying skills and industry expertise – it strongly encompasses the people side, writes Patricia McKenzie.
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Companies
Myer outlines massive expansion plan with Just Jeans, Jay Jays buy
The department store has proposed acquiring several brands owned by Solomon Lew’s Premier Investments, its largest shareholder, in a bid to trigger growth.
Cettire plunges 50pc on profit downgrade as luxury pinch strikes
Cettire blamed a challenging environment in online luxury fashion for a big earnings miss that sent its share price tumbling.
Metcash’s better than expected food results soothes hardware pain
Households are cutting back on restaurant visits and hunting for food on special at the group’s IGA stores, but Total Tools is being hit by the housing construction slide.
ASX-listed uranium miner seeks to build $5.26 billion global giant
Paladin Energy has pitched a takeover of Toronto-listed Fission Uranium to bring its proposed Canadian mine into production by 2029 to meet global demand.
$11b swoop on ASX building giants leaves James Hardie the lone prize
The CSR, Boral and Adbri buyouts come at a low point in the construction cycle, with better times expected from mid-2025 once interest rate cuts arrive.
- Exclusive
- Cash
Armaguard secures deal with supermarkets, banks to save cash
Months after a bailout collapsed, the eight largest customers of Linfox’s Armaguard have agreed to a $50 million injection to keep cash circulating.
High-roller exodus rolls on at struggling Star casinos
Star says its main gaming floors are attracting customers, but not enough to offset dramatic declines from its premium gaming rooms.
Companies in the News
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Markets
Nvidia enters correction territory as slump extends into third session
Shares in the semiconductor maker have tumbled more than 10 per cent, putting it back below the $US3 trillion market-cap threshold.
ResMed sinks as drug trial sparks Ozempic-style sell-off
New results from Eli Lilly’s weight-loss treatment have traders reaching for the sell button, but analysts aren’t so sure.
Wall Street’s record rally built on ‘shaky foundations’
The AI-powered surge in the US sharemarket has lifted the S&P 500 by 32 per cent from its October lows, but equity strategists warn not everything is so rosy under the hood.
Why now’s a good time to visit Europe
French political turmoil is good news for Australians heading to Europe with the dollar trading at its highest level against the euro in a year.
ASX slips; Cettire slumps 49pc; Paladin to buy Fission for $1.3b
Shares close down 0.8 per cent; Star drops after profit warning; Myer explores merger with Premier’s Just Jeans, Jay Jays; Cettire issues profit warning; ResMed sinks as Ozempic fears resurge. Follow updates here.
Opinion
Japan’s LNG diplomacy is in Australia’s national interest
Any move to curb LNG exports that undermine Australia’s reputation would not just threaten new gas projects but damage Australia’s green superpower hopes.
Editorial
Why this is a practical, workable supermarket code of conduct
The new code offers the best of both a mandatory and voluntary system of compliance for the supermarket giants.
Former Labor minister and economist
There’s nothing funny about LinkedIn’s ‘weird’ makeover
If the professional social network is now a place for personal posts, why isn’t it funnier?
Contributor
Climate 200 cancelled my talk. Here is my case for nuclear
My presentation to Engineers Australia would have outlined why a nuclear-based energy system would cost consumers half as much with four times fewer emissions.
Nuclear advocate
It’s bubbles like AI that make the tech world go around
From telegraph fever to the first internet bust, irrational over-investment creates profitable technology businesses that wouldn’t have been possible otherwise.
Technology investor
Why we need to get behind small business
The true backbone of Australia’s entrepreneurial spirit and innovation lies within its small business sector, not just the tech giants.
Small business advocate
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
Fruit and vegetable price transparency needed: Woolies
The supermarket giant says progress on an industry or government-led review into the prices paid to suppliers is overdue.
‘Not tobacconists’: Pharmacists reject Labor-Greens deal on vapes
Health Minister Mark Butler on Monday backflipped on plans to mandate doctors’ prescriptions for all vape sales but said the government would still limit their sale to pharmacies.
Saving less and spending less: why Australian households are unique
Australians are saving much less than their global peers as mortgage repayments and tax bracket creep eat into disposable incomes.
NDIS delay to cost $1.1b as senators jet off to Brazil
Disability Minister Bill Shorten warns that a Coalition proposal to delay the government’s NDIS overhaul by two months will cost taxpayers $137 million per week.
Social media ‘ripping at’ social fabric: O’Neil
The Home Affairs Minister will issue bruising criticism of social media platforms and the use of opaque algorithms to “germinate and grow” bigotry online.
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World
Japan-Australia ties ‘as much about security as business’
“The Japan-Australia relationship has become broader and more sophisticated than before,” Tokyo Gas chairman Michiaki Hirose says.
- Analysis
- Regional security
Why China is using axes, fists to fight border disputes
Experts say that China’s use of simple weapons rather than firearms has been a tactical choice, but it may not always prevent escalation.
Netanyahu says Gaza intense fighting close to ending
The Israeli PM says the new stage would offer a chance to move forces to the north to where tensions with Lebanese militant group Hezbollah have been growing.
- Analysis
- World elections
Growing ‘gamble-gate’ threatens to bury Rishi Sunak
A fourth Tory staffer is being probed for betting on the timing of the election, in a scandal that has engulfed the PM’s party just two weeks from polling day.
Japan using Australian gas to shore up regional influence
Japanese energy companies are on-selling surplus Australian gas to allies in South-East Asia.
Property
WeWork’s exit opens opportunity for new co-working hub
The owner of 66 King Street in Sydney’s CBD has taken over the space from WeWork and decided to run his own co-working office there under a belief that he can do it better.
The 10-minute, $1.5m sale that was an afterthought
An interstate buyer paid $835,000 for in investment block of land, sight unseen. When they did come to see it, they bought the neighbouring block, too.
- Exclusive
- Superannuation
Keystone lent money to director’s $300m Port Douglas resort dream
Keystone Asset Management, under ASIC investigation, lent money to companies associated with a director’s controversial plan to develop an “uber five-star luxury” resort in Port Douglas.
Tiny Sydney studio sells for $425,000 as clearance rate slides
A buyer from Dubbo snapped up one of Sydney’s smallest homes for just $425,000, but the city’s clearance rate fell to just 63 per cent, according to Domain.
Aviation exec to sell Provence-style vineyard in the Adelaide Hills
A $7 million luxury vineyard escape has joined the Adelaide Hills market complete with ornamental lake and Provence-style homestead.
Wealth
- Opinion
- Company tax
The ATO ‘loan’ rules all wealthy families should know
Complex Division 7a penalties on some trust payments to companies are still catching many by surprise – even though they started almost 30 years ago.
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.
Technology
- Exclusive
- AI
Aussie brothers’ AI firm worth $120m as big name backers invest
Melbourne-based Affinda has built AI-based software used by numerous big companies around the world, it has doubled its valuation in 18 months with well-known investors.
- Opinion
- Digital Life
With the new Surface Laptop, Microsoft catches the MacBook
Microsoft has finally done it. It has broken free from Intel and produced a laptop right up there with Apple’s hitherto incomparable MacBook Air.
Robotic friend company raises $3 million to build Abi
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
Work & Careers
Mining’s push for gender diversity threatened by ‘Andrew Tate’ effect
A belief that women are being promoted based on gender, not ability, has permeated to middle management and board level, according to some female leaders.
- Opinion
- Careers
There’s nothing funny about LinkedIn’s ‘weird’ makeover
If the professional social network is now a place for personal posts, why isn’t it funnier?
Life & Luxury
Seven shows you must see in July
From Dracula to Hamilton, to a gallery tour led by a cat – yes, a cat – here is Life & Leisure’s monthly selection of unmissable shows around the country.
How the million-dollar wardrobe became the new fashion must-have
Got the wine cellar and the infrared sauna? Maybe it’s time to rethink the closet.
Custom-made lingerie is an investment, that’s why the rich buy it
Six generations of a Parisian family have been crafting undergarments that make everything else their clients wear look good.
- Driving With Tony Davis
- Motoring
An electric Bugatti? The Tourbillon has landed
In fact, it’s not all-electric. This supercar also has an 8.3-litre V16 engine capable of producing 1000 horsepower.
A sleep scientist explains how to beat jet lag
Sleep scientist Dean Miller is advising our Olympians about recovering faster from jet lag. Here’s what he will tell them before they head to Paris.
From the gallery
The Australian Financial Review Magazine
An insider’s guide to sake – and how to buy Japan’s best
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