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Nuclear out in cold in $122b power grid plan
The energy market operator says work needs to start on another $3.4 billion of transmission lines in its latest $122 billion plan to transform the power grid.
ASX to fall, Nvidia rebounds as investors buy the sell-off
Australian shares are set to open lower; oil and gold fell. Nvidia rallies 6.8pc. Bitcoin recovers $US62,000 level. Monthly CPI indicator awaited.
Julian Assange to seek pardon after 15-year legal battle comes to close
The WikiLeaks founder will plead guilty to a single count of illegally disseminating US national security material and could return to Australia within days.
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.
‘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.
Labor senator Fatima Payman crosses the floor over Palestine
The first-term Labor senator has avoided expulsion from the ALP after voting with the Greens to recognise Palestinian statehood.
- 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.
- Driving With Tony Davis
- Motoring
Hyundai amps up engine noise for electrifying EV drive
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
WOMEN IN LEADERSHIP
‘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.
- 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.
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.
Entrepreneur Summit
- Opinion
- The AFR View
No easy super money for next-gen risk-takers
A start-up golden age is coming because without plentiful money to hide the risks, entrepreneurs will be forced to focus on what really works for customers and investors.
- Opinion
- Chanticleer
Start-up founders take us back to basics. It’s refreshing
It’s refreshing to hear from founders and their investors who aren’t tied up in corporate spin. Their stories are about survival.
‘I fire people just as quickly as my male co-founders’
High-profile female entrepreneurs including Airwallex’s Lucy Liu have hit out at sexist attitudes, and male-led venture capital investors.
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.
‘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.
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Companies
- Exclusive
- Media & marketing
Seven West axes three of its most senior executives in major shakeup
Analysts have warned the structural challenges facing the free-to-air television industries would hinder the broadcaster’s ability to grow its profit margins.
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.
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.
Premier, Myer alliance could yield savings of $55m a year
The merger could land the department store chain a $1 billion-plus valuation, brokers say.
Palmer confident on $40b coal damages claim
Billionaire Clive Palmer says his Singapore business could take the Commonwealth to the cleaners over a stalled coal project in Queensland’s Galilee Basin.
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.
- 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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Ex-Magellan stock pickers partner with Bennelong to launch new fund
Kris Webster and Michael Poulsen each spent more than a decade at the investment firm before finally setting up their own shop last year.
- 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?
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.
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.
Opinion
Citizen Assange’s hero claim is forever tainted
WikiLeaks mainly benefited Donald Trump, Vladimir Putin and Russian intelligence. That leaves Julian Assange’s claim to be a hero of press freedom forever tainted.
Editorial
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.
Political editor
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
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
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
Reports
Executive education - Microcredentials
A growing number of employers are developing short, sharp courses known as microcredentials in collaboration with tertiary institutions.
Politics
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.
Tourism rebounds to near pre-pandemic levels
The Australian industry is on track for the best year ever as international visitor numbers bounce back.
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.
- Analysis
- WikiLeaks
Julian Assange never accepted the ethics of journalism
Drawing support from the far left and right, the Wikileaks founder was more international political actor than reporter.
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.
SPONSORED
World
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.
China’s faltering tech giants push workers to the limit
As Chinese technology executives face a new reality of low growth, rising competition and investor apathy, many are making tough demands on staff.
- 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.
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.
The insiders: the three men at the core of Biden’s brains trust
The US president is surrounded by a diverse, multigenerational crowd of operatives, but his full trust is in a small circle who are the definition of old school.
Property
Macquarie joins rush into land lease sector after $2.9b raising
Macquarie Asset Management’s new global fund will invest in a land lease business on the East Coast alongside investments in logistics and rental housing
- Exclusive
- Office
Minters to sit atop Mirvac’s 56-storey office tower
The top-tier law firm will take up the top floors of 55 Pitt Street, as Sydney’s legal eagles vie for the best perches across the CBD.
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.
Banks’ pullback from offices, hotels opens door for non-bank lenders
With the bank sector reducing exposure to assets like commercial property, residential subdivisions and tourism, alternative players can now grab them.
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.
Wealth
Which investment vehicle is best to build wealth?
Super, trusts and investment companies all have their pros and cons. The decision on which to use often comes down to tax.
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.
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
Unis should face inquiry into $380m in underpayments: academics’ union
Universities are the worst underpayers of staff across the economy and now the academics’ union wants a federal inquiry.
KPMG appoints ex-RAAF officer as part of halved partner intake
KPMG has announced a significantly reduced intake of new partners as it pivots away from generalist consulting.
Life & Luxury
Luxury travellers are swapping planes for trains – here’s why
Nostalgia for a slower era has travellers returning to rail, and operators are responding by dialling up the glamour.
Future-proofing the Olympics: faster, stronger and hopefully cheaper
IOC executive director Christophe Dubi loves the Games. He’s about to find out if he’s guaranteed their future.
This week’s pick of luxuries: a beast of a barbecue and canine couture
For cooks who love an open fire to pet lovers, we have inspired suggestions for you.
AI beats the experts at detecting prostate cancer
When international AI teams competed with a pool of 62 radiologists in the first large-scale contest to diagnose prostate cancer, the machine won.
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.
From the gallery
The Australian Financial Review Magazine
Future-proofing the Olympics: faster, stronger and hopefully cheaper
- 31 mins ago
- Zoe Samios
