- Live
- Need to Know
‘Privilege’ to serve this constituency: Starmer
Nigel Farage is expected to speak after Reform UK’s “almost unbelievable” win; Keir Starmer speaks as Labour claims first big Tory ministerial scalp of the night. Follow the count here.
Latest Posts
UK citizens to wake to Labour landslide headlines
Labour claims first Tory ministerial scalp
‘I will serve every person in this constituency’: Starmer
The results so far
Last updated 5 mins ago
Labour set for huge 170-seat majority: exit poll
The survey, released just after voting ended, suggests the Tories have been crushed. Hours of counting lie ahead to confirm the result.
- Opinion
- UK election
Why Starmer’s victory in Britain should scare Albanese
The Australian prime minister now has an ideological bedfellow in the UK. But he also has something in common with the loser: incumbency, writes Hans van Leeuwen.
Armed kidnapper, Nazi sympathiser: Meet France’s far-right candidates
The far-right’s National Rally party acknowledges a few “infected sheep” among its candidates as it stands on the threshold of power in France.
- Live
- Markets Live
Shares slip; Aramco denies Santos interest, Magellan lifts again
Shares lose 0.1pc. $A gains as traders eye RBA. UK’s FTSE rallies on Labour govt. Wall St closed. US jobs data, French elections ahead. Follow here.
Why coal stocks are seeing an epic rally
Underground fires at two major coal operations have ignited a rally in unloved ASX miners, and some analysts are tipping prices to push even higher.
- Opinion
- Investing
Best investments of the past financial year, ranked by risk
Among the higher risk asset classes, global shares did very well, and gold even better. But the king of 2024 was bitcoin, writes Christopher Joye.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
UK ELECTION
How London turned against the Tories
London might be the home of the professional and business elite but the UK election result is expected to effectively shut the Tories out of the English capital.
Why Britain’s new PM could hold key to Jimmy Lai’s freedom
Keir Starmer cut his teeth as a barrister at the same firm as Australian human rights lawyer Jennifer Robinson, who is fighting for the release of Hong Kong mogul Jimmy Lai.
- Analysis
- UK election
How will Keir Starmer change the UK?
As a Labour government gets set to take the reins after 14 years of Conservative rule, what will Starmer do with power in his first 100 days and beyond?
Why angry Britain is finally dumping the Tories
Five PMs, five elections and a three-ring circus: over 14 years, the Conservative government sowed the seeds of its own downfall – and leaves a mixed legacy.
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.
REVIEW
The most expensive mistake in sports history
Mercedes’ decision to introduce a radical new design into Formula 1 may have cost the company $1 billion.
- Opinion
- Global economy
Why Europe is becoming poorer than America
Oversized governments in Britain and on the Continent have crushed productivity growth, allowing US incomes to grow twice as fast.
- Editorial Of The Times
- US Supreme Court
The US Supreme Court gives a free pass to Trump and future presidents
In a step towards monarchy, the bedrock principle that presidents are not above the law has been set aside.
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.
- Opinion
- AI
The bear case against Nvidia and artificial intelligence
The computer chip company will struggle to sustain its growth as interest in AI wanes.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
- Exclusive
- Renewables
Grok Ventures boss woos wealthy families for Sun Cable
The chief executive of Mike Cannon-Brookes’ private vehicle is plotting a pivot – opening it up to outside investors.
Pharmacies face an ‘Uber’ moment – whether they like it or not
Stephen King, who led a Health Department review into the sector, says antiquated ownership restrictions should be abolished before they do more damage.
Santos wins court battle on EDO funding quest
The Federal Court also cleared the way for Santos to pursue the Environmental Defenders Office for costs in its failed case against the Barossa gas project.
Saudi, UAE interest puts $25b Santos in play
Renewed takeover speculation has underlined the oil and gas producer’s status as a potential target in the wave of global energy consolidation.
BHP misses internal targets, docks incentives across global workforce
BHP’s top brass has cut employee incentives around the globe based on failures to hit internal performance targets.
AOFM chief puts banks on notice as bond trading probe heats up
The head of the government’s debt agency has reminded the banks, which are hired to help it sell billions of dollars of bonds, what is expected of them.
Airtasker bets $10m stake on radio, outdoor media surge
Airtasker founder Tim Fung has signed two deals in two weeks with media companies to promote its gig economy platform.
Companies in the News
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Markets
Banks, REITs will only get cheaper as outlook darkens: fundies
Australian fund mangers Merlon Capital, Lazard Asset Management, Australian Eagle and Blackwattle share their best stock picks for FY25.
Phil King’s Regal Partners set for major payday after banner year
Soaring funds under management and strong performance pushed fees at the investment house, which has snapped up several rivals this year, to record levels.
What happened overnight? FTSE 100 rallies on expectation of Labour majority
Australian shares are set for a modestly weaker start. UK markets were higher awaiting confirmation of a Labour majority. US markets closed. Bitcoin slides anew.
Growing bets on Fed rate cuts boost $A to six-month high
Evidence of weaker US growth and a deteriorating job market bolstered conviction that the Fed will cut rates imminently, triggering a rally in commodities.
Why Forager exited Meta after the stock surged 194pc
Portfolio manager Harvey Migotti oversaw a 21 per cent 2023-24 return. He reveals how the big returns from Meta were redeployed into quality compounders of the future.
Opinion
Muslims and farmers, everyone wants a piece of Labor
An unanticipated backlash in WA is the last thing the government needs, given the prospect of the creation of a pro-Muslim political movement targeting heartland ALP seats.
Political editor
Sectarian divide threatens idea of Australia that benefits migrants
Battling out toxic foreign feuds here, and pushing votes on issues far beyond the reach of Australian governments is both pointless and divisive.
Editorial
Don’t switch super funds until reckoning in unlisted assets is over
Industry fund executives regularly boasted about capitalising on the so-called “illiquidity premium”, but the world has changed.
Wealth editor
There is no catastrophic failure of AUKUS Plan A
The “optimal pathway” may not run exactly to plan, but the risk is known, is being managed, and all three partners have demonstrated their commitment to the process.
Defence expert
Canberra’s $1b digital identity play could be the next white elephant
The failure of open banking and the poor uptake of My Health Record offer a salutary warning for the government’s digital ID system.
Government editor
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
Reports
Law partnership survey
After a period of caution following a pandemic-era peak our Law Partnership Survey shows firms have roared back, with growth near its COVID-era record.
Sponsored
by UNSW SydneyPolitics
Winter gas woes to extend into 2025
Considerably higher demand for heating in the winter months is set to cause supply shortfalls in NSW, Victoria and Tasmania.
Labor plays down call to break up ASIC, talks up whistleblower rewards
The Australian Securities and Investments Commission was on Wednesday accused of being a “toothless tiger” in the final report of a 20-month Senate inquiry.
‘Stay tuned’: Payman open to forming a new party
First-term senator Fatima Payman has not ruled out forming her own political party after she quit the ALP, citing its “indifference” to the plight of the Palestinians in Gaza.
St Vincent’s splits with insurer NIB amid private hospitals ‘crisis’
St Vincent’s on Thursday told health fund NIB it would walk away from its contract over an entrenched pricing disagreement.
- Exclusive
- Federal election
Cattle farmers trying to boost profits at taxpayers’ expense: Labor
Attorney-General Mark Dreyfus says the government was not budging on its $215 million offer to settle a decade-old class action.
SPONSORED
World
Biden says ‘I’m not going anywhere’ as calls to quit race grow
The president also told a group of key Democratic leaders that he was in the race to stay, chilling any talk of his withdrawal, participants said.
Trump rants about Biden and Harris in leaked video
Donald Trump said he is now competing against Kamala Harris in the US presidential race during an expletive-laden rant on a golf course.
Putin says Trump ‘sincerely’ wants to end the war in Ukraine
President Vladimir Putin said Russia takes seriously statements by Donald Trump that he has proposals to end the war in Ukraine quickly.
- Opinion
- US election
Replacing Biden carries risk but also possibility
There is not a plausible way for Democrats to convince voters that the man they saw on the debate stage should be president three or four years from now.
Israel sends delegation to negotiate hostage release deal with Hamas
Israeli Prime Minister Benjamin Netanyahu told US President Joe Biden he has decided to send a delegation to resume stalled talks on a hostage release deal.
Property
- Exclusive
- Luxury property
Wesfarmers exec Ed Bostock sells Cottesloe mansion
Wesfarmers heavyweight Ed Bostock has sold the family home in Cottesloe following his appointment as CFO of the conglomerate’s health division.
Tamawood profit jumps, but can’t predict FY25 earnings
Chairman Robert Lynch said factors such as the Queensland election, weather and land shortages meant it was “impossible” to predict the builder’s performance.
ACCC gives Lendlease, Stockland two-month ultimatum over $1.3b deal
The competition watchdog has further delayed a decision on the two property giants’ transaction over a 12-community portfolio of assets.
- Exclusive
- Luxury property
Palm Beach trophy sale sets 2024 peninsula record
Frank and Amber Elsworth’s Karala estate has clocked the elite Sydney suburb’s most expensive deal of the year as the coastal market stays below its COVID-19 peak.
Rents in Sydney, Melbourne are starting to come down
New figures show asking rents plateauing or even falling in some markets after several years of sustained increase.
Wealth
- Opinion
- UK election
Want to get rich from Keir Starmer in Number 10? Read this
With the British Labour party set for a huge victory in the polls, investors have plenty of reasons to be optimistic. This is where to look for the biggest profit.
Why this is the ideal age to downsize
Move into a smaller home too early, and you miss out on the opportunity to put additional money into super. Leave it too late, and you might not be up to the task.
Aware Super cashes in on tech, healthcare bias to return 11pc
Aware follows several other super funds with high global equities exposure reporting returns of more than 11 per cent for 2023-24 as tech stocks soared.
Technology
How solar beat every forecast to win the renewables race
Solar power is on track to generate more electricity than all the world’s nuclear power plants in 2026, its gas-fired power plants in 2030 and its coal-fired ones in 2032.
- Updated
- Cloud
Aussie spies to get $2b top-secret Amazon data centre
The system will let the country’s spies and military collaborate without being connected to the open internet where adversaries could breach it.
Leaving war-torn Ukraine was hard, then this AI worker tried Australia
Tech skills have been in red-hot demand for a decade, but skilled migration has cooled as numerous companies have shed staff in the so-called tech funding winter.
Work & Careers
Why the local CEO of this $26b company likes her commute
When QBE Australia chief Sue Houghton rises at 6am, the self-described introvert relishes a walk on her own.
The co-CEOs who learned the secret to business from ... pasta
Shaun Greenblo and Elliot Midalia are managing directors at Boody, a bamboo-based clothing company. They both meditate – in their own way – before office hours.
Life & Luxury
Sexual pathologists would have plenty to say about this film
Director Yorgos Lanthimos has returned to his arthouse roots in Kinds of Kindnesses.
The exercise habit that boosts this founder’s productivity
Road running in the morning gets Brand Rebellion’s Bryden Campbell primed for her workday.
This week’s pick of luxuries: a $17k wrist cuff and a posh dog harness
Who needs a sculpture by a top American artist when you can get a mini version for your wrist? Or another artwork for your walls when your pooch can wear one?
‘I got a six-figure rent’: The benefits of owning a famous building
A piece of cultural history, such as a property that appeared in the films “Groundhog Day” or “Atonement”, can help pay bills – and bring unexpected visitors.
Ozempic could be linked to sudden blindness: report
Patients who took the drugs for weight loss were seven times more likely to be diagnosed with a stroke-like eye condition, according to Harvard research.
