Energy transition lights a rocket under law firms
Law firms are streaking ahead of the broader economy, adding partners as deals return and the energy transition offers decades of lucrative work.
ASIC warns banks not to become complacent, five years after Hayne
ASIC has approved a new Banking Code of Practice, but chairman Joe Longo says lenders must be alive to the dangers of “apathy, complacency and backsliding”.
Political row erupts over ‘hero’s welcome’ for Assange
The opposition says it is inappropriate Prime Minister Anthony Albanese spoke to Julian Assange after his arrival in Canberra on Wednesday night.
- Live
- Need to Know
Assange’s wife says plea deal doesn’t change unfair prosecution
Liberals have rebuked Anthony Albanese for calling Julian Assange; Qatar Airways could take a large stake in Virgin Australia. Follow here for updates.
- Live
- Markets Live
Shares fall on inflation worries, Southern Cross rejects ACM
Shares lose 0.7pc in early trade. AVZ rejects takeover bid. Gold eases, oil flat. Bitcoin extends losses. Wall St gains. European stocks fall ahead of French elections. Follow here.
- Exclusive
- Federal election
Right-wing group asks Jewish donors for millions to target Greens
Advance’s campaign to portray the Greens as antisemitic worries some Liberals, who fear it will drive voters to the Labor Party.
- 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.
- Drinks With Max Allen
How a blend of prosecco and limoncello proved a smash hit for winery
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.
- Resources Winner
- Women in Leadership
Rio Tinto leader never shies away from hard talks and tough calls
Sinead Kaufman, the winner of the Resources category, also shows great care and sensitivity for families and communities across her career in mining.
- 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.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
- 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.
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.
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- 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.
Yen’s free fall exposes the Fed’s grip on markets
The yen is plunging through milestone levels in rapid succession and likely won’t stop until the Federal Reserve finally pivots on rates.
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.
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
- 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.
- 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 the subs deal is at risk.
‘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.
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.
SPONSORED
World
Rishi Sunak uses TV debate to try to avert Tory electoral meltdown
With new opinion polls pointing to a massive Labour majority, the PM came out fighting, insisting that Sir Keir Starmer would raise taxes and allow spending to spiral.
Boeing’s new crisis: Astronauts ‘stranded’ on its spacecraft
The Starliner ship has suffered helium leaks and thruster problems. Its delayed return from the International Space Station comes at the worst time for the US company.
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.
Property
Why this family is swapping a six-bedroom house for apartments
Lexi Dodd and her family are moving into apartments ahead of a new chapter, where being closer to cafés and restaurants is more important than space for kids.
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.
Wealth
Why you could be caught by the ‘wealth tax’ this year
Fast-rising wages and asset prices will leave more Australians facing Division 293 tax on their income and deciding whether to pay it from their super.
- 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.
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
‘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.
How to know if – and when – you’re going to go bald
Diet, stress, smoking, drinking, excessive exercise and deficiencies in iron or protein can all play a part in men and women losing hair. Here’s what to do.
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.
NSW demolish Qld in game two win
NSW have salvaged their State of Origin campaign, sending the series to a decider after demolishing Queensland in a 38-18 bloodbath.
