Rebel senator to quit Labor, backed by ‘Muslim vote’
Fatima Payman is expected to quit Labor on Thursday to join the crossbench, heightening fears about sectarianism creeping into politics.
Local REITs outpace broader market despite sagging asset valuations
Goodman Group was the standout performer in the 12 months to June 30, buoyed by rising demand from investors for exposure to data centres.
- Opinion
- Chanticleer
New Hope makes it two convertibles in two days
It’s good to see the miners creative with their funding structures.
- Analysis
- Investing
Ackman’s huge new fund offers zero fees, with a catch
The hedge fund king known for monster returns is set to market up to $US26 billion worth of shares to retail investors with zero fees for 12 months.
- Opinion
- Chanticleer
Passive funds changed markets, but Grantham’s GMO says golden rule hasn’t
Active funds managers are worried about the weight of money heading into passive funds. And they should be.
Judge backs CITIC claim that 3000 jobs at risk in Clive Palmer dispute
A WA Supreme Court judge says the mine that represents China’s biggest investment on Australian soil could have to shut down within a few years.
- Analysis
- AUKUS
AUKUS future is resting on belief alone
Defence and government figures brim with confidence over Australia’s nuclear submarine program, but there’s no Plan B and – to some – an air of desperation.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
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Companies
Citi’s services arm gets time in the sun amid a global restructure
The Wall Street bank’s most misunderstood business has morphed into its most critical chess piece as CEO Jane Fraser executes a turnaround plan.
Senate to vote next month on extending data right for bank switching
Treasurer Jim Chalmers is working through banks’ concerns about the consumer data right, as the Senate forced a vote on a bill to extend it by mid-August.
Judge backs CITIC claim that 3000 jobs at risk in Clive Palmer dispute
A WA Supreme Court judge says the mine that represents China’s biggest investment on Australian soil could have to shut down within a few years.
Fortescue, Playground-backed hydrogen flight start-up collapses
Universal Hydrogen had attracted almost $150 million in funding, including from Aussie Peter Barrett’s Playground Global, but it wasn’t enough for it to take flight.
Chalice cops a beating on back of weak link to Mitsubishi
The miner’s share price plunged almost 20 per cent after the market was underwhelmed by the potential tie-up with the Japanese giant.
Guzman y Gomez worth $62 if US dream succeeds: Morgans
The broker initiated coverage with a $30.80 price target, but says the Mexican fast-food chain could be valued at $62 with a successful push into the United States.
Industry super giant lags rivals with 8.5pc return
Defensive positioning against equities stung AustralianSuper early in 2023-24, but growing its exposure to soaring technology stocks helped it recover.
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Markets
JPMorgan’s Kolanovic to exit amid string of poor stock calls
The Wall Street firm’s chief global market strategist and co-head of global research, is leaving the bank, according to an internal memo obtained by Bloomberg.
Investors dodge the ASX as a rate rise looms
Australia’s sharemarket is falling further behind its global peers as the risk of a rate rise threatens earnings and performance.
Three ASX stocks to ride out the retail rebound
As retail sales data tops market expectations, Morningstar says some beaten-up retailer stocks may be ripe for a recovery.
- Analysis
- Investing
Ackman’s huge new fund offers zero fees, with a catch
The hedge fund king known for monster returns is set to market up to $US26 billion worth of shares to retail investors with zero fees for 12 months.
Guzman y Gomez worth $62 if US dream succeeds: Morgans
The broker initiated coverage with a $30.80 price target, but says the Mexican fast-food chain could be valued at $62 with a successful push into the United States.
Opinion
Energy transition will cost much more than politicians are pretending
The brutal reality is that taxpayers and consumers will be on the hook for much higher costs under a renewable or nuclear energy system.
Economics editor
Dutton’s populist break up big stick betrays Liberal principles
Cheap anti-business sentiment is fuel for the left and right-wing populists causing havoc in Europe and the US. No one should be rushing to bring it here.
Editorial
What would a better Israeli prime minister do?
Israel needs to offer a postwar vision for Gaza and articulate the real stakes in this war – one battle in the struggle between the free and unfree worlds.
Contributor
UK needs ‘moonshot’ growth agenda
After so many years of insufficient investment and sagging productivity, there is no singular, silver-bullet reform to achieve buoyant, durable, sustainable and inclusive economic growth.
Global financial commentator
Why we need to have a genuine look at nuclear energy
Nuclear energy is the kind of nation building policy we need when our lucky country’s luck is running out.
Robert Menzies Institute
Slashing foreign student numbers would be economic self-harm
Before the government puts the squeeze on Australia’s $48 billion university export industry, it should consider how much GDP it is prepared to sacrifice.
BCA chief executive
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
Australian Muslim Vote campaign mirrors the US, UK
It has been brewing for months, but the controversy over renegade Labor senator Fatima Payman and her full-throated support for Palestine has spurred it on.
Which states are in ‘the slow lane’ for retail spending?
Retail sales in Victoria and Queensland are lagging the rest of Australia on a per-person basis, while Western Australia tops the spending charts.
Call for ‘toothless tiger’ ASIC to be split in two
A 20-month Senate inquiry found the watchdog should be split into a companies regulator and a separate financial conduct authority.
Small firms fight push to force data-breach reporting
Before critical cabinet considerations of major privacy reforms, small business groups say now is not the right time to add further compliance costs.
- Analysis
- AUKUS
AUKUS future is resting on belief alone
Defence and government figures brim with confidence over Australia’s nuclear submarine program, but there’s no Plan B and – to some – an air of desperation.
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World
Boris Johnson in surprise late move to avert Tory wipeout
Making his first public appearance of the campaign, the former prime minister said Labour would “destroy so much of what we have achieved”.
French candidates bow out in bid to block far right
More than 200 have confirmed they will not stand in Sunday’s second round voting for France’s 577-seat national parliament.
China seizes Taiwanese fishing boat near mainland coast
The squid fishing boat was near the Taiwan-administered Kinmen islands, which sit next to the Chinese cities of Xiamen and Quanzhou, but in Chinese waters.
EY’s new boss leaves split questions up in the air
Janet Truncale’s alternative to a failed spin-off of the firm’s consulting arm is criticised for lacking detail.
Under-pressure Biden says he almost ‘fell asleep’ during debate
Joe Biden said he was exhausted heading into the debate. Four major polls in the last 24 hours question if he is the right person to lead the Democratic ticket.
Property
New home approvals rise to six-month high
As two project approvals in Brisbane and Melbourne show, soaring materials and financing costs have made new projects unviable for all but the priciest homes.
Pub tsar more than triples money in $30m Griffith sale
Jim Knox sold the Area Hotel in Griffith to budding entrepreneur Trent Middleton for $30m, having paid $8m for it in 2019.
Tim Gurner, Qualitas take control of Jam Factory after $180m raising
The acquisition of the remaining 50 per cent interest in the Chapel Street site by Gurner/Qualitas sees Chris Langford’s Newmark Capital exit the landmark project.
Local REITs outpace broader market despite sagging asset valuations
Goodman Group was the standout performer in the 12 months to June 30, buoyed by rising demand from investors for exposure to data centres.
London’s sky-high home rents finally growing slower than wages
Rental growth in the UK capital matched the slowest year-on-year growth among the regions, with only Wales seeing a similarly small rise.
Wealth
Industry super giant lags rivals with 8.5pc return
Defensive positioning against equities stung AustralianSuper early in 2023-24, but growing its exposure to soaring technology stocks helped it recover.
Court denies deathbed wish to award $1.2m to estranged lover
A bitter family fight over a super inheritance highlights the role of binding death nominations, how they work and why it is necessary to regularly review them.
- Opinion
- Superannuation
The super trick every couple should know about
It can make a material difference to your total retirement kitty and the tax you pay – but you need to get it right.
Technology
Investors pour billions into AI start-ups, defying a downturn
The AI boom that started in late 2022 has become the strongest counterpoint to the broader downturn in technology funding.
We’re not coming for your job, AI companies say
A report funded by the AI industry says artificial intelligence will create 200,000 jobs in Australia by 2030.
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.
Work & Careers
Why this radio host moved in with his in-laws to become a lawyer
Check out the latest post in our fortnightly AFR series featuring professionals who have made a big career leap into the unknown.
The #MeToo lawyer accused of being a tyrant
Roberta Kaplan’s poor treatment of colleagues, including micromanagement, insults and personal attacks, triggered her expulsion from the firm she founded.
Life & Luxury
He was terrified of planes, but Boyd’s works could fly at auction
Seven paintings by celebrated Australian artist Arthur Boyd are going under the hammer in Melbourne on July 24.
Study reveals the power of a kiss on the cheek
Why your cheeks are a highly sensitive interface with the world.
- Driving With Tony Davis
- Motoring
Is this race-bred Porsche with driver harness too much for the road?
Some believe the turbocharged Porsche 911 GT3 RS is lucky to be road legal. After driving it, this is what we think.
MONA has a new home for its Picassos: The women’s toilet
MONA is appealing a ruling that closed down its Ladies Lounge after finding it was discriminatory to men.
Supercharge your workouts with a weighted vest
They’re suddenly everywhere and no wonder. It’s the one piece of gym kit that will get you fit faster while making you feel like an action hero,
