- Opinion
- Chanticleer
Small caps’ wild EOFY ride exposes market’s dirty little secret
Monday’s list of worst performers looked like Friday’s best performers turned upside down. It was laughable.
- Exclusive
- Federal budget
Deeming rate freeze costing up to $1.8 billion a year
If the freeze is maintained over the forward estimates, the overall unrealised savings could be more than $7 billion, according to government figures, though this is not reflected in the budget.
Power prices to surge amid sluggish rollout of clean energy: UBS
Wholesale power prices could be almost 50 per cent higher than last year, the investment bank’s analysts warn, as renewables project development has stalled.
Investors hunt for diamonds among ASX dogs
With the new financial year kicking off, funds are busy hunting through the sharemarket’s bargain bin for oversold names, betting on a rebound.
- Opinion
- Investing
Why you should vote at the ballot box and not with your portfolio
Election uncertainty in the US and Europe looks to increase volatility, but investors should be cautious about over or underestimating the impact of political change.
Baby Bunting plots expansion on the back of HMC’s property portfolio
The retailer fell on tough times but its new CEO is expanding the network into fresh areas with smaller formats and exclusive products.
Private hospital operators to hand over profitability data
Data about break-even points and investability will be handed to the Health Department by next week, The Australian Financial Review has learnt.
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Companies
Rising interest rates are bad news for bank stocks
Another cash rate increase would do more damage to arrears than it would help net interest margins, according to Morgan Stanley.
How Kim Teo pulled off a mega-merger with her start-up’s biggest rival
The co-founder of restaurant ordering app Mr Yum is now the boss of its former competitor me&u, after the heavily backed Aussie start-ups merged to survive.
Transurban denies employee fired for whistleblowing
The toll road group has asked courts to dismiss a claim by a former employee who alleged he lost his job after alleging coercion, manipulation of records and safety failings.
Lithium play Lake Resources slashes jobs, sells assets
The ASX-listed group said this would allow it to focus on its flagship $2 billion Kachi project in Argentina, which has already been delayed until 2027.
Oaktree trading house squares off against shareholders for nickel mine
The distressed debt specialist emerged in pole position to pick up the Avebury mine as job losses and closures engulf the country’s nickel industry.
Fortescue’s ex-iron ore boss joins Evolution board after abrupt exit
The long-time resources executive has become a director of the gold and copper producer almost a year after leaving Andrew Forrest’s iron ore and energy group.
- Investigation
- Investment banking
‘Marking their own homework’: Inside Australia’s $200b unregulated private credit boom
Credit products are being launched a mile-a-minute, promising plenty of returns buoyed by high rates. But behind the euphoria, there’s plenty of disquiet.
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Markets
Investors hunt for diamonds among ASX dogs
With the new financial year kicking off, funds are busy hunting through the sharemarket’s bargain bin for oversold names, betting on a rebound.
ASX falls; Coronado, Whitehaven jump; WiseTech drops
Shares dip; coal stocks jump; Euro gains as Le Pen’s party set for smaller victory than feared; Lendlease rallies after selling US military housing business for $480 million. Follow updates here.
- Opinion
- Investing
UniSuper’s John Pearce has a warning for this financial year
Super funds and portfolio managers have ruled off on a year that was powered by super stocks. As another begins, they’re looking for the obvious trades.
Shares to rally as profits grow at fastest clip in years
Analysts have set the bar high for the second-quarter reporting season on Wall Street, with US companies tipped to post the fastest quarterly earnings growth since 2021.
GQG slashes tech exposure, here’s where it’s buying next
Brian Kersmanc was the first analyst that star stockpicker Rajiv Jain hired for his new firm. He’s now co-managing all of GQG’s strategies which are pumping out near-40 per cent returns.
Opinion
Labor’s identity politics tensions exposed
Senator Fatima Payman is also now part of the Greens’ political weaponisation of the Gaza war to try to win Muslim votes in Labor-held seats.
Editorial
The public sector is the key to Australia’s productivity puzzle
There is some cause for cautious optimism for increased productivity in health if outcomes can be more accurately measured, writes Alex Robson.
Productivity Commission deputy chair
Why central banks are in two minds on the private credit boom
The US Fed is not worried about the systemic risks of private credit, but the Bank of England and the ECB are not so sure. Who is more right?
Former deputy governor of the Bank of England and chair of Natwest group.
There is a respectable economic argument for nationalised nuclear
The bottom line is that there are sound public choice arguments for the government to build and own nuclear power plants.
Contributor
RBA’s new Englishman tells Aussies: you’ve forgotten how rich you are
If Australians don’t appreciate their fortune, as Andrew Hauser correctly points out, they may not be well placed to preserve it, writes Michael Stutchbury.
Editor-in-chief
In the end, Payman gave Albanese no choice
For the second time in this sitting session Fatima Payman has stolen the agenda and derailed the government’s attempts to spruik cost-of-living relief.
Political editor
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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by AusgridPolitics
Overseas students cap will protect integrity of universities: Varghese
While the university sector reels from a raft of measures designed to limit net migration, there is growing support for caps on overseas student numbers.
- Exclusive
- Federal budget
Deeming rate freeze costing up to $1.8 billion a year
If the freeze is maintained over the forward estimates, the overall unrealised savings could be more than $7bn, according to government figures, though this is not reflected in the budget.
Vic premier to pocket $500,000 as MPs handed 3.5pc pay bump
Jacinta Allan has cemented her spot as the nation’s second highest-paid politician after Victorian MPs were awarded a 3.5 per cent pay rise.
Why ‘care’ will be at heart of governor-general position
Business leader Sam Mostyn, who was sworn in on Monday, warned that younger people were concerned they could miss out on privileges enjoyed by previous generations.
Small consulting firms to get a leg-up from new Canberra rules
An overhaul to federal government procurement rules means agencies must now seek quotes from at least one small firm when seeking consultancy services.
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World
France teeters towards dysfunction after far-right surge
Emmanuel Macron’s gamble looks set to usher in a populist government or a paralysed parliament, unless voters rally to him in the poll’s July 7 second round.
China’s home sales downturn slows after cities ease policy
The turn in the trajectory of new home sales may offer some relief for China’s economy, which is on track to undershoot the official growth target this year.
- Opinion
- World elections
Macron’s reckless gamble leaves French voters with invidious choice
Thanks to Macron’s miscalculations, the eurosceptic, anti-immigration RN has a shot at securing an absolute parliamentary majority in the second round of voting on July 7.
- Analysis
- World elections
Victory no certainty for Marine Le Pen as France faces second vote
Sunday night was a major victory for Marine Le Pen’s National Rally. However, round two of this lightning contest is far from an electoral slam dunk for the right.
Democrats back Biden as voter poll shows rising unease over fitness
A CBS News-YouGov poll shows that 72 per cent of registered voters think Joe Biden should not be running for president, up from 63 per cent in February.
Property
Kevin Maloney on selling Segenhoe and bringing Kentucky to the Hunter
Kevin Maloney on why he’s selling elite equine stud Segenhoe, and why the Upper Hunter is ripe for Kentucky-style tourism.
Meet the mayor who sees Airbnb as an agent for good
It’s better to have a short-term rental in a house that’s been refurbished than to have a ruin, says the head of Portugal’s second-largest city.
The unusual move that made this seller $4.8m
Most people with a large block to offload would do just that, but this vendor developed it – and made a much bigger profit in the process.
Lendlease sells US military housing business for $480m
The divestment of its contract to maintain and manage 40,000 military housing units is the latest part in the $4.5 billion divestment and global retreat.
Property buyers spooked by talk of another rate rise
Fewer home buyers are willing to pay above the auction reserve and more buyers are pulling out on fears of another increase in interest rates.
Wealth
- Exclusive
- Class action
Litigation funder touts 165pc returns in bid to sign up more clients
Pitched as an “ESG asset”, Sydney-based funder CASL aims to raise a further $150 million on top of the $156 million in its first fund.
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.
Technology
Why this $4300 home Wi-Fi router may just be worth it
In two of the three criteria that matter most to us in the Digital Life Labs, Netgear’s Orbi 970 is the best home Wi-Fi router we’ve ever reviewed.
- Exclusive
- Venture capital
Frazis unveils venture capital fund, makes first investments
The Gen Y tech investor has nabbed stakes in a dozen start-ups in tech, health and e-commerce, thanks to $10 million raised from wealthy investors.
How Kim Teo pulled off a mega-merger with her start-up’s biggest rival
The co-founder of restaurant ordering app Mr Yum is now the boss of its former competitor me&u, after the heavily backed Aussie start-ups merged to survive.
Work & Careers
Aged care pay rise delayed due to Labor funding decision
Pay rises for 250,000 aged care workers of up to 14 per cent – likely costing up to $5 billion extra in government funding – have been delayed until next year.
- Opinion
- World elections
The productivity hack that really does boost careers
Physical stamina is an oddly overlooked superpower in working life. But although it will take you a long way, it won’t always be enough to achieve enduring success.
Life & Luxury
I drank like a Boomer. Here’s what it did to my body
A tot before breakfast, a brightener here, a livener there – the older generation has perfected the art of perma-imbibing. Could I keep up?
This 59-year-old play about broke divorcees oddly suits the times
Two of Australia’s great comedic actors make this revival of Neil Simon’s The Odd Couple a funny, relatable affair.
- Exclusive
- Saleroom
Fine art collection of late Ron Walker to fetch up to $8m
He helped build modern Melbourne but the works that hung in his Toorak mansion, and are now for sale, had a very Sydney flavour.
- Driving With Tony Davis
- Motoring
Noosa gears up to show off some of the world’s most collectable cars
From Ferrari to Porsche, ultra-luxury and rare cars will take over the main drag next Saturday for its Concours d’Elegance.
Escape the crowds with an intimate tour of a pop legend’s Paris home
For the first time since his death, the unchanged abode of musician Serge Gainsbourg is open to the public, with his daughter as your guide.
