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    This combination of photos shows Republican presidential candidate former President Donald Trump, left, and President Joe Biden during a presidential debate hosted by CNN, Thursday, June 27, 2024, in Atlanta. (AP Photo/Gerald Herbert)

    ‘Felon’, ‘alley cat’: Biden turns up the heat

    WATCH LIVE: Joe Biden says Donald Trump is the only felon in the room and questioned his morals after regaining his train of thought from an earlier stumble, Trump says “he didn’t have sex with a porn star” and he would end the Ukraine war. Follow updates here.

    Latest Posts

    Last updated 7 mins ago

    Stubbornly high inflation will force Reserve Bank governor Michele Bullock’s hand on interest rates.

    RBA forced into a humiliating rate-raising cycle

    In a huge embarrassment for the central bank, its next move in interest rates should be higher, not lower, writes Christopher Joye.

    NDIS ‘unsustainable’ and ‘out of control’: Wayne Swan

    Mr Swan was one of the architects of the NDIS, which is growing at 20 per cent per year and on track to become the most expensive area of government spending.

    Nine Entertainment to cut 200 jobs as Meta content deal ends

    CEO Mike Sneesby made the announcement as Nine battles a weaker advertising market and a content deal with Meta, which runs Instagram and Facebook, ends.

    Guzman y Gomez isn’t the only fast food giant with big plans

    McDonald’s, Pizza Hut, Wendy’s. The race is on for who can grab the biggest slice of a $25 billion market, as big players scramble for sites and customers.

    Chalmers turns ANZ’s Suncorp bid into once-in-a-generation deal

    When you look at the commitments ANZ is making to buy Suncorp, you have to wonder: if it is competition we’re after, is it competition we’ve got?

    IAG surges on reinsurance deal; Macquarie at 2-year high

    Shares gain 0.7pc. Suncorp adds 3pc. GQG Partners hits record high. Adore Beauty in $25m acquisition. Lithium miners retreat. Wall St higher. US inflation, French elections ahead. Follow here.

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    Keir Starmer UK Labour leader

    The rise of Keir Starmer, from ‘superboy’ to Labour leader

    Born without privilege, he raised himself to high office through his own endeavours; yet he is somehow reluctant to celebrate this success.

    French President Emmanuel Macron.

    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.

    Xinhua

    We must consider imposing non-military costs on China

    We are failing to deter China from committing increasingly frequent acts of aggression and intimidation against Taiwan.

    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.

    The Ozempic effect: How weight loss wonder drug gobbled up an economy

    Pharmaceutical giant Novo Nordisk has grown so large in its native Denmark that it’s hard to find staff. Meanwhile, its philanthropic foundation is running out of local causes to support.

    Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.

    Sign up for the Today’s Paper newsletter

    Companies

    Adore Beauty has been focusing on private label products for several years and says the Ikou purchase will leave it in a stronger position to pursue sales with higher margins.

    Adore Beauty snaps up Blue Mountains wellness brand Ikou for $25m

    The online beauty retailer said the deal would support its “private label and physical store initiatives” as it attempts to increase its profit margins.

    ANZ has been given the OK to take over Suncorp Bank.

    Chalmers approves ANZ’s $4.9b Suncorp deal

    The decision paves the way for the biggest merger in banking since the Commonwealth Bank took out ailing Bankwest during the global financial crisis in 2008.

    Steven Siewert

    Retailers have bigger worries than possible interest rate rise

    Nick Scali and Harvey Norman say they are getting squeezed from all directions. A rate rise would add to their woes but other costs are doing more damage.

    Lynas Rare Earths boss Amanda Lacaze.

    Lynas to break China’s heavy rare earths stranglehold

    The Amanda Lacaze-led miner will start producing two critical minerals that are essential to the US and its allies from next year.

    Casino regulators clear way for Bruce Mathieson to buy up more of Star

    The decision by NSW and Queensland authorities means the billionaire can increase his stake in the gaming operator from the 9.7 per cent he currently holds.

    Workers threaten to ‘grind things down’ at troubled power station

    The union has warned electricity prices will ultimately rise amid industrial action at the troubled Callide Power Station.

    Southern Cross rejects Catalano’s offer to sell his newspapers

    The operator of regional television networks and the Hit and Triple M radio brands says it does not want to buy a portfolio of regional publications.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    The ASX is on track to end the FY24 with a 6.4 per cent gain.

    Inflation shock derails ASX 200 from best gain since 2021

    A two-day sell-off after a hot consumer price report has left the bourse with a tepid return for the 2024 financial year.

    Wall Street.

    What happened overnight? Wall Street awaited Fed’s preferred price data

    Australian shares were set to open modestly higher, in line with gains in New York. Amazon extended rally. The Fed would slash rates this year and next, said Pantheon.

    Tyndall Asset Management’s James Nguyen.

    Why Tyndall has gone all in on Zip Co’s turnaround story

    James Nguyen says the market is mispricing the buy now pay later provider and reveals why a $15 billion settlement could be the catalyst for another small cap stock.

    First Super, Stafford pen $220m co-investment effort

    The private equity firm’s latest comes just days after another superannuation fund, HESTA, signed a $250 million deal.

    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.

    Opinion

    Payman has crossed Labor’s tribal caucus comrades

    Unlike the West Australian senator who gifted the Greens a propaganda victory, Penny Wong stayed in the tent and effected change from within on same-sex marriages.

    Phillip Coorey

    Political editor

    Phillip Coorey

    Nuclear should fire Coalition’s Fightback!

    Finding the same combination of politics and principle on other policies might be the start of a strategy to win, not necessarily the next election – but the one after that.

    John Roskam

    Columnist

    John Roskam

    ALP should be flexible like UK Labour and ditch the three-line whip

    Fatima Payman crossing the Senate floor is a chance to fundamentally revisit Labor’s approach to caucusing.

    Michael Easson

    Commentator

    Michael Easson

    Union pay push isn’t helping Labor’s inflation fight

    It is not necessary to have a 1970s-style wage-price spiral to cause the government grief. It’s enough for the RBA to say that wage increases are above the level that miserable productivity growth can sustain.

    The AFR View

    Editorial

    The AFR View

    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.

    John Kehoe

    Economics editor

    John Kehoe

    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.

    Edward Luce

    Columnist

    Edward Luce

    Reports

    Powering our energy future

    With our renewable energy capacity needing to increase ninefold to meet our net-zero commitments, electrification is critical to our energy and economic future.

    Sponsored

      by Ausgrid
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    Politics

    NDIS to cost $100b, exceeding the pension: budget watchdog

    The NDIS is on track to overtake the age pension as the most expensive area of spending within three years if it remains stuck on its current trajectory.

    Some economists say at least two rate rises are needed to curb inflation.

    Multiple interest rate rises needed to quash inflation

    The hawkish warnings from economists came as the share of borrowers falling behind on repaying their home loan has risen to the highest level in five years.

    Treasurer Jim Chalmers in question time on Thursday.

    Chalmers confirms second surplus amid rate rise fears

    Treasurer Jim Chalmers has confirmed the budget will again be in surplus as he moves to firewall the government against responsibility for another interest rate increase.

    RBA deputy talks up renewable energy potential

    RBA deputy Andrew Hauser has talked up Australia’s potential to be a world leader in solar, as the nation debates the best energy mix to achieve net zero.

    Nuclear power would do little to reduce need for renewables: report

    The task of reaching a net-zero emissions power sector is “Herculean” but can be done without nuclear.

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    World

    Wall Street’s benchmark index was  treading water.

    US economic growth revised up slightly to 1.4pc

    The US economy experienced the slowest quarterly growth since spring 2022, though the figures were a slight upgrade on previous estimates.

    Li Qiang led the call for trade openness and decried protectionism.

    China’s ‘Summer Davos’ highlights corporate anxiety over tariffs

    A surge of cheap exports and industrial production supported by the government has propelled China’s economy this year. That’s prompted a pushback from trading partners.

    Paul Compton.

    How this Australian banker thrived on Wall Street for 30 years

    Queenslander Paul Compton, who started a job at Jamie Dimon’s JP Morgan in 2007, knows that the industry can be a rough ride.

    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.

    What the far right’s Jordan Bardella would do as France’s PM

    The 28-year-old chief of the National Rally party said in an interview that he was confident of winning an outright majority in legislative elections starting this weekend.

    Property

    Sign of things to come: Mirvac’s planned tower at Pitt Street in Sydney.

    Mirvac sells $1.3b stake in new tower to Mitsui

    The transaction is the latest evidence of the company’s efforts to trade out of lower-quality office assets and focus on new, premium ones. 

    Mining technology entrepreneur buys $30m Noosa home

    The purchase was the second highest in Queensland residential history, after Gina Rinehart paid $34m for an oceanfront property at nearby Sunshine Beach.

    Another rate rise could dampen demand but not enough to drag house prices lower according to experts.

    Home prices tipped to defy rising rates

    The prospect of another rate rise is not enough to spark a decline in home values, but could mean prices increase more slowly.

    Caravan king Gerry Ryan puts $50m safari lodge on the market

    Gerry Ryan, the founder of Jayco Caravans, and an ex-Rich Lister, is selling the soon-to-be-finished hotel and glamping resort within the Monarto Safari Park in South Australia.

    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.

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    Wealth

    I’ve saved $50,000 but have a large HECS debt – what should I do?

    Banks do take tuition debt into consideration when assessing mortgage applications.

    Families that pay together: How to get multigenerational living right

    Retirees are increasingly expected to live with, care for and financially support older and younger family members. Here’s your guide to avoiding strife when it comes to wills, means testing and elder abuse.

    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.

    Technology

    Black.ai co-founder Keaton Okkonen says Zoox and Waymo are pointers to the AI talent pool in Australia.

    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.

    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

    AOC chef de mission Anna Meares knows a thing or two about going to the Olympics.

    Why Anna Meares chased the job of leading the Aussie Olympic team

    As one of the country’s most decorated athletes, Australia’s chef de mission knows the triumph and heartache of competing at this level better than most.

    ‘Inclusion, resilience, empathy’: How modern leadership is changing

    Modern leadership is about more than successfully deploying skills and industry expertise – it strongly encompasses the people side, writes Patricia McKenzie.

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    Life & Luxury

    I tried the ‘Tesla’ of fasting diets. Here’s what happened

    Valter Longo’s books about the benefits of abstaining from food have been bestsellers around the world, but the science to support his ideas is not conclusive.

    Do you know this week’s news? Answer these 10 questions

    Have you been paying attention this week? Test your knowledge across politics, business and world news.

    Sydney-based designer Christopher Esber at the ANDAM Fashion Awards in Paris on Thursday.

    Christopher Esber first Australian to win French fashion accolade

    The Sydney designer has won the prestigious ANDAM Grand Prize, taking home more than $400,000 in prize money.

    Melissa on the Joondalup parkrun.

    Founder takes coastal path to fitness, friends and freedom

    Runner Melissa Jolly, founder of Pinnacle Insurance Brokers, has her eye on the Kokoda Track and a marathon next.

    Tim Gurner with AFR footballers Nick Daicos and Josh Daicos, high jumper Amy Pejkovic and influencer Phoebe Chakar, who will be part of his new SAINT club opening later this year.

    Tim Gurner takes wellness ‘obsession’ to new level

    After dropping nine years off his biological age by taking 35 supplements a day, the Rich Lister is starting a wellness club for a younger generation.

    From the gallery