- Opinion
- Chanticleer
Why one more rate rise would be extra painful
Central banks don’t go from rate hikes to cuts quickly, so another rate rise on the back of May’s sticky inflation figure, will only help delay the change in direction.
Short sellers target Guzman y Gomez days after $3b blockbuster listing
Prime brokers told hedge fund clients they were expecting around $50 million in shares to be made available to borrow, with strong levels of interest.
The areas most – and least – hit by Labor’s $3m super tax
Australians with super balances of more than $3 million are less likely to live in rural areas, according to new analysis, despite concerns about the tax focusing on farmers.
Assange ‘won’t be silenced’ after guilty plea deal
Julian Assange is officially a free man, with the Wikileaks founder now a convicted felon after pleading guilty in a remote US Pacific island courthouse.
ASX drops after CPI spike; Deutsche Bank, UBS say RBA hikes in August
Money markets ramp up rate hike bets after inflation data comes in hotter than expected. Collins Foods sinks 8pc. Follow updates here.
Lithium prices tipped to dive 20pc as inventories climb
Citi is betting that prices of the battery material will plunge from current levels, an ominous signal for ASX-listed stocks.
- Opinion
- US election
Why you won’t want to miss first Biden v Trump debate
CNN’s debate between the pair will be a night of firsts, starting with the first time a former and current president have slugged it out in a national televised rematch, writes Matthew Cranston.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
WOMEN IN LEADERSHIP
How COVID-19 redefined leadership for these award-winning women
There can be no leaders without followers – and the pandemic reminded us that followers respond best when treated like human beings and not like machines.
- Tech & Telco Winner
- Women in Leadership
her unpopular call stopped a hacking catastrophe
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.
- Non-bank Winner
- Women in Leadership
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.
- Retail Winner
- 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.
Entrepreneur Summit
Look at Zoox and Waymo to see Australia’s AI potential
The local ecosystem for investment in artificial intelligence is in its infancy, but could thrive if given the right funding.
‘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.
‘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.
- 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.
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Companies
- Updated
- Casinos
Former Lendlease boss Steve McCann takes top job at Star Entertainment
The businessman also ran the casino group’s rival, Crown Resorts, before it was sold to Blackstone. He will receive a $2.5 million sign-on bonus.
BHP’s carbon emissions to increase this year
However, the company says it is still on track to reach its self-imposed 2030 emissions target without buying carbon offsets.
APRA chairman: I won’t be winding back the regulatory clock
John Lonsdale hit back at CEOs seeking relief, declaring current APRA restrictions as deliberate and appropriate, in a speech at an ABA event on Wednesday.
- Updated
- Media & marketing
Seven West in major executive reshuffle as it cuts $100m in costs
Analysts have warned the structural challenges facing the free-to-air television industry 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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Hot inflation fans bond market meltdown
The Aussie dollar jumped to US66.74¢ and bond yields surged to their highest in a month after a strong inflation report dashed hopes of lower interest rates.
- Analysis
- Shipping
Clogged global ports re-ignite inflation fears
Ship timetables are being disrupted with missed sailing schedules and fewer port calls as vessels take longer routes around Africa to avoid the Red Sea.
Forget higher rates, UBS says buy consumer stocks
The broker’s upgrade of consumer discretionary stocks including Super Retail and Collins Food comes despite a flurry of profit warnings from the sector this week.
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.
Top Fed official warns interest rates may need to go up again
Michelle Bowman said looser financial conditions and government stimulus “could add momentum to demand, stalling progress or even causing inflation to accelerate”.
Opinion
How the AFL got hooked on harmful gambling
The insidious link between professional sport and betting was exposed by Gillon McLachlan’s appointment as chief executive of Tabcorp.
Economics editor
The folly of the pro-Trump plutocrats
Business leaders dismiss fears of a return of the former president to the White House – they are wrong to do so. Trump is crazy and, alas, not amusingly so.
Columnist
Why Dutton is flying in the face of the China hawks
As the opposition leader’s rhetoric softens dramatically, the days of turning China into an election wedge appear to be over.
Contributor
Nuclear power deserves a fair hearing
The opposition and the government fail to answer critical questions on their respective nuclear stances. It is time to get the experts in.
Energy expert
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
Reports
Women in Leadership awards
The awards celebrate outstanding achievements of women poised to enter the upper echelons of corporate life and government. Meet the winners in eight sectors.
Politics
Spender, Pocock join forces against $3m super tax grab
The teal independent and the crossbench senator are working to stop the government taxing unrealised gains in its plans for large superannuation balances.
High rates forcing indebted homeowners to sell: RBA
Highly leveraged borrowers are selling out of property and consolidating their savings into offset accounts, RBA assistant governor Christopher Kent says.
New policing deal to keep China out of the Pacific
Australia has agreed to help Solomon Islands grow its police force following high level leaders’ talks.
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.
‘Deeply offensive’: ATO boss slams robo-debt comparison
New Tax Commissioner Rob Heferen was forceful in his first appearance before Parliament, rejecting criticism of a Tax Office program to chase small debts.
SPONSORED
World
UK Labour suspends candidate for betting against himself
The so-called “gamble gate” scandal has escalated to include a Tory Cabinet minister along with two Labour candidates in the run-up to Britain’s election.
France’s main parties clash on economy, immigration in TV debate
Frequently attacking and interrupting each other, the three leaders tried to highlight their differences.
- 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.
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.
Property
Sydney landmark Luna Park hits the market
Canadian property giant Brookfield is stepping off the ride at the famed harbourside attraction and is ready to hand the fun times over to a new owner.
- Exclusive
- Office
Minters to sit atop Mirvac’s 55-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.
Housing not so ‘impossibly unaffordable’ after all
A recent global ranking of housing affordability only considered detached house prices in Australia. When including apartments, the picture changes. A lot.
The next home-building boom is coming
Despite higher borrowing and construction costs, increasing demand for new housing will draw out capital – but not from first home buyers.
Property profits hit 14-year high
The share of profitable home sales would likely increase further in the June quarter as values continue to rise, CoreLogic says.
Wealth
The top 20 stocks by dividend return this year
Insurers, miners and fund managers were the top performers, but experts warn of income traps.
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.
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
‘My graduate job starting salary was $343,000 – here’s why’
Some law and investment banking firms in Britain are paying graduates in their early 20s enormous salaries. The financial rewards are vast but come at a big cost.
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
- Exclusive
- Olympics
‘Visionary, out there, no tie’: Meet the man who runs the Olympics
IOC executive director Christophe Dubi loves the Games. He’s about to find out if he’s guaranteed their future.
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.
Four easy ways to cut 300 calories a day – and live longer
Eating less not only helps you lose weight – it also makes you biologically “younger”. But there’s no need to adopt a strict diet.
‘Number nine is the holy grail’
Australia’s first currency, the “holey dollars” and “dumps” that inspire the Macquarie logo, rarely come to auction. Now 12 will appear in a single sale.
- Driving With Tony Davis
- Motoring
Hyundai amps up engine noise for electrifying EV drive
The carmaker’s most expensive model, the all-electric Ioniq 5 N from its performance division, is track-ready.
