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US, Europe warn Hezbollah to ease strikes on Israel
US, European and Arab mediators are pressing to keep attacks between Israel and Hezbollah from spiralling into a wider war; Richard Marles says the future of AUKUS will be unaffected by the outcome of the US election. Follow updates here.
Key Posts
US, Europe warn Hezbollah to ease strikes on Israel
ALP senator threatens to cross floor again on Palestine
Thales’ $1.2b contract faces corruption probe: Marles
Biden fit for another term: Marles
Last updated 51 mins ago
Rudd schmoozes Biden’s mooted replacements
Joe Biden’s poor debate performance has sparked discussion about who could replace him, and take on Donald Trump in November.
- Opinion
- Interest rates
The RBA is walking a tightrope between inflation and jobs
As Reserve Bank deputy governor Andrew Hauser said on Thursday, it’s a mistake to change policy on one piece of data. But it is an egregious folly to ignore serial indications of sticky inflation, writes Stephen Miller.
France’s far-right ‘dream ticket’ chases election victory
Far-right leader Marine Le Pen anointed her youthful protege as prime minister in waiting, but the office may come sooner than either expected as France votes.
How the Greens went from tree huggers to angry culture warriors
With polls showing Labor could be on track to lose its lower house majority at next year’s federal election, the Greens have a chance at gaining real influence.
- Exclusive
- Property development
Developers rush to snap up $350m Qld fund to boost housing density
The industry has called for new tax incentives to increase housing supply following the mad rush to snap-up a development fund.
Biden tries to calm wealthy donors after dismal debate performance
The president held fund-raising events with Democratic donors amid calls for him to step aside over concerns about his fitness.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
Weekend reads
- 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.
- Analysis
- Interest rates
How the RBA’s big interest rate experiment exposes Labor
The moment of truth to test Australian exceptionalism is about to arrive. Persistent local inflation suggests the strategy is coming under pressure and may be about to come unstuck.
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.
- 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.
The ‘grindset’ is back in vogue for start-ups – with a health twist
Start-up bosses no longer just enthuse about working innumerable hours – now they recommend an ice bath after the innumerable hours.
smart investor
When bank of mum and dad comes with interest
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.
The super funds with the most million-dollar members
After losing ground to industry super funds since the Hayne royal commission, data shows retail funds are fighting back when it comes to attracting and retaining high-net-worth members.
- Opinion
- Inflation
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.
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?
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Companies
ANZ boss says Suncorp ‘migration’ can avoid Westpac’s St George pain
Shayne Elliott insists he’s learnt from Westpac’s failure to integrate St George, while Suncorp’s Steve Johnston says he can now focus fully on insurance.
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.
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.
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.
- Updated
- Mergers & acquisitions
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.
- Updated
- Mining
Labor plans to open $13.7b critical minerals incentives to Chinese firms
Labor’s incentives are aimed at boosting critical mineral processing and investment in so-called green hydrogen under the government’s draft eligibility guidelines.
IAG says premium pressure easing as shares soar on profits
Shares in IAG jumped on Friday as the insurance giant announced that earnings were likely to come in at the top of forecasts.
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Markets
Goldman Sachs, UBS top tables as local bankers welcome big deals
Wall Street giants returned to the top of the coveted league tables as larger transactions returned, while UBS jumped seven spots to top M&A ranks.
Wall Street slips, inflation data bolsters rate pivot
Shares in New York fell, with megacap tech hit by a late wave of quarter-end profit taking. Disinflation narrative intact as focus shifts to jobs. Nike plunges.
Fed’s favoured inflation metric slows, supporting case for cut
The so-called core personal consumption expenditures price index, which strips out volatile food and energy items, increased 0.1 per cent from the prior month.
Bond yields retreat as traders temper RBA rate hike fears
Traders have pared bets that the RBA will raise rates this year, with some economists warning that financial markets overreacted to May’s inflation figures.
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.
Opinion
Three elections, and it’s the same economic incoherence
Elections under way in the US, Britain and France are being fought on what voters want to hear, rather than on what adds up.
Editorial
Biden is a good man and my friend, but he must bow out
If there was ever a time that the world needs America at its best, it is now — because we are at the start of the biggest disruptions in human history, writes Thomas L. Friedman.
Contributor
Trump shows new side in debate: restraint
It was Donald Trump’s new-found discipline that made Biden’s mistakes so prominent. Usually, Trump’s tirades get the attention.
United States correspondent
Forget the far-right gloom: France is the Silicon Valley of luxury
Marine Le Pen depicts her country as a neoliberal wasteland. The reality is France’s bounty and advantages are not well distributed.
Contributor
Government under the cosh, keen to claim a win with Assange
It’s still not clear how Australia managed to get the Americans to drop the process of law on a man they wanted for espionage.
Columnist
The risky business of standing up to Beijing in the South China Sea
Capitulating to Chinese demands would set a precedent for other claimants with stakes in the waterway, making it next to impossible to row back from.
Contributor
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.
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The secret breakthroughs that freed Assange
Legal proceedings against the notorious whistleblower ended after a long and delicate fight in the highest offices on three continents.
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.
Cyber protection boosted in critical healthcare sector
Home Affairs Minister Clare O’Neil is rolling out a new intelligence centre as part of efforts to upgrade cyber safeguards for healthcare and hospitals.
‘Extinction event’: WA builders blame government for overheating market
A $480 million government housing grant scheme has been blamed by West Australian builders for overheating the market and contributing to insolvencies.
- Exclusive
- Disability
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.
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World
In Israel’s north, waiting for Hezbollah to attack
In the villages near the border with Lebanon, locals see a real war with the Iran-backed group as a matter of when, not if, even though an escalation would lead to enormous destruction on both sides.
Reformist and ultra-hardliner to face off in Iran election
Iran will hold a runoff presidential election to replace the late Ebrahim Raisi after the top candidates failed to secure a majority.
Biden vows to stay in the race amid calls to step aside
US President Joe Biden told a rally in North Carolina that he can still beat Donald Trump in the November election after his debate performance triggered calls for him to step aside.
How the Democrats could replace Biden as the presidential candidate
They can replace Joe Biden – if he agrees to step aside. However, it’s more complicated than that.
‘Breathtaking’ decision weakens federal agencies
The US Supreme Court ruling is its most significant to date, paring back the power of the executive and handing it to the courts.
Property
Cannon-Brookes’ $10m office reno tops architecture awards
The focus on giving new life to old buildings is crucial at a time when preserving embodied carbon of existing buildings is an increasing priority.
- Exclusive
- Luxury property
Late pub baron’s chic apartment hits market for $19m-plus
The family of late Sydney hotelier Paul Irvin is selling his Darling Point apartment after a major designer overhaul revealed stunning harbour views.
- Exclusive
- Luxury property
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.
Former Boral chief’s $25m waterfront mansion to smash suburb record
A sprawling property on Sydney’s lower north shore is expected to surpass the all-time high sale price for Kurraba Point.
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.
Wealth
The super funds with the most million-dollar members
After losing ground to industry super funds since the Hayne royal commission, data shows retail funds are fighting back when it comes to attracting and retaining high-net-worth members.
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.
When bank of mum and dad comes with interest
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.
Technology
Meta threatens Australian news ban in media bargaining war
News sites and links could once again be blocked from Meta’s platforms if the social media company is forced to negotiate content deals with local publishers.
The ‘grindset’ is back in vogue for start-ups – with a health twist
Start-up bosses no longer just enthuse about working innumerable hours – now they recommend an ice bath after the innumerable hours.
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.
Work & Careers
‘You smile too much’: the early career advice Danielle Wood ignored
Be brave and have fun, is what Australia’s leading women would say to their younger selves.
Why Cynthia’s uni trip to Silicon Valley was life-changing
Study-abroad programs have become something of a rite of passage for Australian university students, and it can be a life-changing experience.
Life & Luxury
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.
How fashion and beauty are cashing in on the Olympics
The 2024 Games are being called “the fashion Olympics”, and Australian brands are muscling in on the action.
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.
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.
Why WFH husbands don’t do the housework
There must be something about upbringing and environment that makes it so much harder for men to identify the chores that women see as crying out to be done.
