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PM tells troops to campaign on cost of living and nothing else
Anthony Albanese has told his troops July 1 will be a critical day, and they must be out in their electorates.
‘What if a cruise ship got in the way?’ Rocket wrapped in red tape
Australia’s first home-grown rocket launch has been slowed down by a nervous regulator, says Gilmour Space Technologies CEO.
Brokers turn on Cettire after profit downgrade
The company’s shares fell again on Tuesday as analysts doubted whether a soft luxury market was the only cause of its dramatic downgrade.
Profits finally run over by the interest rates truck
Somehow, corporate profits and margins beat expectations at the February reporting season. A spate of downgrades this week shows cost pressures and softening demand is finally biting.
Trump reviews plan to halt US military aid to Ukraine
Two chiefs of staff in Donald Trump’s former National Security Council have proposed cutting aid to Ukraine until it negotiates with Russia.
Risk of war with China rising fast, ex-security chief warns
Former Home Affairs Department head Mike Pezzullo wants a new defence production tsar with “superpowers” to shake up how the military acquires weapons.
Woolworths, CSL among ASX giants that should sell foreign assets
A wave of Australian companies are ditching their overseas businesses to bring capital back to Australia. MST Marquee says there are more that should do the same.
- Professional Services Winners
- Women in Leadership
‘Non-conforming bid’ that took dynamic duo to the top
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
WOMEN IN LEADERSHIP
- Overall Winner
- Women in Leadership
The ‘magic and mundane’ leadership style of 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.
The winners of the Women in Leadership Awards
Meet the winners of the 2024 Women in Leadership Awards, in eight key economic categories.
- Banking Award Winner
- Women in Leadership
The ‘utterly shocking’ moment that made Westpac leader want to flee
Siobhan Toohill, the winner of the Financial Services - Banking category, faces a new frontier after 10 years leading Westpac’s sustainability efforts, including convincing the board to ditch new oil and gas projects.
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.
Entrepreneur Summit
‘Pick up a knife and get on with it:’ Start-ups reject work-life balance ‘beast’
Start-up workers must be prepared to “go to war,” to help their companies succeed, rather than worrying about work-life balance top local entrepreneurs have warned.
Super funds ‘should be forced’ to back start-ups
Employment Hero chief executive Ben Thompson has proposed a novel aid for the flagging start-up sector: reserving 1 per cent of superannuation money for it.
1pc of your super for venture capital? Add it to the list
Everyone wants a piece of the $3.9 trillion super system and now we can add venture capital. The problem is, it is not the government’s money to redirect.
Top VC admits newer Aussie funds will struggle to raise capital
Younger venture capital funds will be the next casualties of the tough capital raising environment, even if they’re performing well, a Square Peg partner says.
Telstra looks to cash out of venture capital investments
Telstra Ventures has changed its name to Titanium Ventures, as the telco mulls selling its venture capital investments.
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Companies
- Updated
- Gas crisis
Labor delivers all-clear for $1b Rinehart-backed Senex gas project
The decision to grant environmental clearance for the Atlas development brings to an end an approvals process that has lasted almost two years.
Qantas plummets in world airline rankings, again
Fiji Airways beat Qantas and Air New Zealand in the global poll in which the Australian carrier recorded its worst performance for a decade.
Czech coal baron’s bid for control of ASX miner collapses
Pavel Tykac’s family office, Sev.en, agreed to buy 51 per cent of Coronado, but the deal will not proceed after failing to get past FIRB in time.
KFC eaters are cutting back as economy slows
Collins Foods runs 279 KFC outlets in Australia and says same-store sales have gone backwards in May and June, but Taco Bell, a small rival to Guzman y Gomez, is making minor headway.
Brokers turn on Cettire after profit downgrade
The company’s shares fell again on Tuesday as analysts doubted whether a soft luxury market was the only cause of its dramatic downgrade.
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.
- 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, writes Jonathan Shapiro.
Companies in the News
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Markets
ASX rallies 1.4pc as Collins Foods jumps
Shares rebound; Energy & Minerals Group quits Coronado bid; ResMed dives 11pc in the US; Qantas buys 14 DeHavilland aircraft; Healius updates earnings guidance. Follow updates here.
Woolworths, CSL among ASX giants that should sell foreign assets
A wave of Australian companies are ditching their overseas businesses to bring capital back to Australia. MST Marquee says there are more that should do the same.
Nvidia share slide erases $646b in market value
Shares in the semiconductor maker have tumbled more than 10 per cent, putting it back below the $US3 trillion market-cap threshold.
- Opinion
- Sharemarket
Nvidia’s murky AI future isn’t reflected in its price
Despite a recent sell-off, Nvidia’s shares have still surged some 4000 per cent over the past five years. It’s clearly a great business, but is it a great investment?
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.
Opinion
Citizen Assange
Wikileaks mainly benefited Donald Trump, Vladimir Putin, and Russian intelligence. That leaves Mr Assange’s claim to be a hero of press freedom forever tainted.
Editorial
Why we should pay Sam Mostyn $700k
Sam Mostyn will earn $200,000 more than her predecessor, but there has been no change to the practice of how the governor-general’s pay packet is set.
Political correspondent
Unstable France could trigger the next euro crisis
Runaway budget deficits and a confrontation with Brussels and Berlin are a formula for trouble.
Columnist
Why South China Sea is the flashpoint that could spark war
The worry for Australia is that rather than Taiwan, the worsening situation in the seas east of Asia is more likely to entangle it in a great power conflict.
International relations expert
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
The big lie of the big-stick code is lower grocery prices
By adding cost and complexity, these reforms may well increase the cost of doing business and this could be passed on to consumers at the checkout.
Consultant
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
ACT targets living costs in pre-election budget
Chief Minister Andrew Barr says the economy is slowing and many parts of the community are enduring cost-of-living pain.
- Updated
- Gas crisis
Labor delivers all-clear for $1b Rinehart-backed Senex gas project
The decision to grant environmental clearance for the Atlas development brings to an end an approvals process that has lasted almost two years.
Julian Assange released after near 15-year legal battle
The WikiLeaks founder will plead guilty to a single count of illegally disseminating US national security material.
- Opinion
- Assange saga
Assange plea deal has echoes of David Hicks
Julian Assange’s release is not the first time a US president has done such a favour for an Australian prime minister, writes Phillip Coorey.
We want Assange ‘brought home to Australia’, Albanese tells Parliament
Albanese wants Assange brought home; founders plagued with poor mental health; chemists already selling vapes says Butler. Follow the latest news here.
SPONSORED
World
Le Pen blasts Macron’s ‘civil war’ scaremongering
The increasingly strident comments from the president’s camp reflect a last-ditch attempt to woo voters as his centrist party trails the left and right blocs.
Australia crashes from T20 World Cup after epic Afghan win
Australia is heading home from the Twenty20 World Cup elimination after a heavy loss to India and Afghanistan’s enthralling win over Bangladesh.
Sunak defends handling of election betting scandal
The prime minister insists the Conservatives “will not hesitate to act” if party figures are found to have cheated by placing bets.
Global tax war fears as landmark deal set to fail
Champions of digital taxes have started taking unilateral steps after losing faith in the OECD-backed treaty to overhaul taxation of multinationals.
- Analysis
- Global economy
China’s unhappy consumers have even given up on shopping sales
E-commerce sales declined for the first time during the “618 festival” this year, reflecting pressures on retailers already locked in a gruelling price war.
Property
Rich Listers sign up Marriott for $500m Gold Coast marina project
Marriott will operate the new Marina Mirage hotel under its Luxury Collection brand after signing an agreement with developers the Makris family.
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.
Wealth
How anyone can turn $5000 into more than $400,000
Building wealth can be simple if you stay disciplined. Here are six essential lessons for share investors.
- 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.
Technology
Back from the dead, the Windows laptop is better than ever
Microsoft’s new Surface Pro 11 marks the beginning of a new era in portable computers, where Windows computers are at least as good as their MacBook rivals, and in many ways better.
- 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
- 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.
Work & Careers
- Exclusive
- Industrial relations
Pay dispute delays construction of 1600 homes
Industrial action by workers at poles and wires company Endeavour Energy is stalling the delivery of 1600 homes and $1.2 billion worth of warehouses in Sydney.
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.
Life & Luxury
16 small changes to make to your diet that will help you live longer
From savoury breakfasts to sardines, these life-lengthening diet tweaks could give your health the boost it needs.
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.
The California wine hot spot that locals have only just discovered
The little-known Santa Ynez Valley behind Santa Barbara offers a delicious mix of ambitious restaurants and small-town vibes.
An insider’s guide to sake – and how to buy Japan’s best
A journey exploring the wild side of the traditional Japanese drink, and meeting those who make it, offers fresh perspectives on the fermented rice brew.
A Las Vegas residency is a nice little earner for top stars
When flamboyant pianist Liberace settled in for a prolonged stay in 1955, it started a trend that’s proved lucrative for performers and the city as a whole.
