- Updated
- Interest rates
August rate rise on cards after inflation hits 4pc
Investors say there is now a one-in-three chance of an August interest rate rise after inflation accelerated to its highest rate in six months and economists warned price pressures remained too strong.
- Live
- Markets Live
ASX to drop, Wall Street lifted by megacap tech
ASX futures lose 1pc. Wall St gains. European stocks fall. Gold eases, oil flat. AVZ rejects takeover bid. Micron disappoints. US banks pass Fed’s annual stress test. Follow here.
- Live
- Need to Know
Opposition criticises PM’s phone call to Assange
Liberals have rebuked Anthony Albanese for calling Julian Assange; Qatar Airways could take a large stake in Virgin Australia. Follow here for updates.
- Exclusive
- UK election
AUKUS safe under Labour: next UK minister for Australia
Australian-born Catherine West, who will be minister for Asia and the Pacific if Labour wins the election, rejects Tory claims that the subs deal is at risk.
- Exclusive
- Aviation
Qatar in talks to take up to 20pc stake in Virgin
The transaction, if successful, would hand the Qatari carrier up to 20 per cent of the private equity-owned airline and comes amid a stalled ASX float process.
- Opinion
- Chanticleer
The three rules of investment banking
This is perhaps the simplest and best explanation of investment banking we’ve heard in the past decade.
Cettire CFO facing multimillion tax bill on ‘worthless’ share options
Tim Hume is one of the biggest casualties of a slump in the luxury retail platform’s share price. He faces a large tax bill, while his options are out of the money.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
WOMEN IN LEADERSHIP
‘I shot Bambi’: Women leaders on their toughest decisions
Often the toughest decisions are those that affect other people. Here winners of the Women in Leadership awards share their hardest calls.
- 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.
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.
- 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.
- Professional Services Winners
- Women in Leadership
‘Non-conforming bid’ that took dynamic duo to the top
The winners of the Professional Services category are two Arup engineers who proposed a unique joint arrangement to enable them to balance leadership and family commitments.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
Robyn Denholm, Larry Kestelman buy slice of women’s basketball
The WNBL, currently run by Basketball Australia, has struggled to make money for years. The two businesspeople will buy a controlling stake in the league.
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.
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.
Man accused of using inside information to trade shares
Duncan Stewart, charged with four counts of insider trading of Kidman Resources stock, will face a criminal trial in Melbourne next month.
Lululemon returns for bigger bet on recycled leggings start-up
The company behind plastic-eating enzymes that enable athleisure to be endlessly recycled aims to have a large-scale manufacturing plant in Asia by late 2026.
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.
HMC Capital’s ex-Macquarie banker targets $5b for private credit arm
The investment firm will wrap up the purchase of Payton Capital next week, and has set its sights on real estate financing and asset-based lending.
Companies in the News
Search companies
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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.
What happened overnight? Amazon, Apple and Tesla drove Wall Street higher
Australian shares were set to tumble more than 1 per cent. Iron ore rallied 3.2 per cent. Micron disappointed and slid after hours. US banks passed Fed’s annual stress test.
Forget higher rates, UBS says buy consumer stocks
The broker’s upgrade of consumer discretionary stocks including Super Retail and Collins Foods comes despite a flurry of profit warnings from the sector this week.
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.
- 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.
Opinion
RBA edges closer to interest rate rise as inflation proves sticky
Governor Michele Bullock will be troubled by the latest inflation data, and contemplating the real possibility of an interest rate rise at the August meeting.
Economics editor
A recession if Trump wins is just the start
Joe Biden has not targeted the former president’s trade policy during the campaign, but it would be disastrous for the US, and the rest of the world.
Columnist
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
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
Why Biden, Trump will skirt this pressing issue in the debate
With polls suggesting the US presidential race will be very close, both candidates will try to steer clear of discussing ways to rein in the massive US budget deficit.
Columnist
RBA should lift rates if that’s what it takes
The hotter-than-expected monthly inflation reading suggests the Reserve Bank has still not done enough to tame Australia’s sticky and above-target inflation.
Editorial
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
‘You saved my life’: Assange thanks PM, lands in Australia
Julian Assange has personally thanked Prime Minister Anthony Albanese for championing his freedom after he touched down in Canberra on Wednesday.
- Exclusive
- Manufacturing
Future Made in Australia Act needs guardrails against waste: BCA
Peter Dutton’s nuclear plans will scuttle the green energy objectives of the Future Made in Australia Act, the PM warns.
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.
- Exclusive
- Productivity
Why KPMG sees silver lining to 5pc jobless rate
The big four firm says there is no “productivity crisis” and recent lacklustre results can be explained by the workforce shake-up caused by the pandemic.
PM ‘suspends’ rebel senator, factional bosses stir
Labor’s factional bosses say Anthony Albanese disrespected the caucus by overriding its authority when dealing with rebel senator Fatima Payman.
SPONSORED
World
Russia starts ‘sham trial’ of US journalist on spying charges
A Wall Street Journal reporter appeared in a Russian court to stand trial in a secret proceeding on charges of espionage, amid US efforts to secure his release.
- Opinion
- Israeli-Palestinian conflict
What Israel’s ultra-orthodox draft means for Netanyahu
The Israeli Prime Minister relies on the support of minority parties to hold on to power. The court ruling has put some of them offside.
UK Labour suspends candidate for betting against himself
The so-called “gamble gate” scandal has escalated to include a Tory Cabinet minister along with the Labour candidate in the run up to Britain’s election.
- Opinion
- Investing
A stock trader’s guide to navigating the French election
The prospect of a change in the balance of power in France has investors on edge. These are the sectors most affected by the coming political upheaval.
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.
Property
Building costs 37pc higher than four years ago
The cost of building a home is surging, threatening the Albanese government’s efforts to build 1.2 million new dwellings.
The suburbs where sellers are amassing $1m+ profits
Houses delivered nearly three times as much profits as units, and vendors in some Sydney and Melbourne suburbs raked in more than $1million median gains.
- Exclusive
- Office
Dexus-Canadian fund cashes out $310m Martin Place stake at a discount
Office valuations have been progressively written down over the past two years as the sector absorbs the cost of high rates.
Bidding wars for bakery and vet as investors chase affordable assets
A Bakers Delight shop in Rosanna in Melbourne’s north-east sold for $943,000 on a low 3.9 per cent yield after 40 bids at a portfolio auction.
- Exclusive
- Office
Can Google bring the groove to drab Docklands?
The tech giant is eyeing the top three floors in Lendlease’s Melbourne Quarter Tower, a move that could add hipster vibes to the drab Docklands precinct.
Wealth
- Opinion
- SMSFs
SMSFs desert financial advice in face of looming crisis
The government’s quality of advice review was intended to make financial advice more affordable. So why are fewer SMSF trustees seeking financial advice?
Can I start a pension and put the income back into super?
A couple want to maximise their savings in the most tax-effective way before they both retire.
The top 20 stocks by dividend return this year
Insurers, miners and fund managers were the top performers, but experts warn of income traps.
Technology
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.
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.
Work & Careers
- Exclusive
- Industrial relations
Union bans delay $1.7b transport link to Western Sydney Airport
Industrial action has delayed the critical interchange for the city’s second airport by months and is sending subcontractors close to the wall.
How to tell if work stress is burning you out
Behavioural scientist Jemma King says most people have one of three “instant stress styles”. Determining yours could help you avoid burnout.
Life & Luxury
Your socks are showing your age
Millennials are having to up their game in the sock war with Gen Z.
Is vegan leather just plastic with a fancy name?
An eco-conscious reader wants to wear what’s right for the planet – and wonders if ‘vegan leather’ is just good marketing
- Drinks With Max Allen
How a blend of prosecco and limoncello proved a smash hit for winery
Fuelled by memories of European summers and sipping limoncello, a zesty new spritz from the Yarra Valley has become a top seller.
‘The most exciting thing about Australian cuisine right now’
The eternal quest to define “modern Australian” cuisine, and how the answer was right next to our chopsticks.
The mysterious tyranny of trendy baby names
So you think that the unique name you picked for your kid makes you different? Turns out that’s a trend.
