Faith-based politics will be bad for social cohesion and Islam: PM
The introduction of sectarian politics would risk further harm to social cohesion and be bad for the Islamic community, Anthony Albanese has warned.
Labour’s sweeping victory in Britain is terrible news for Peter Dutton
The UK general election was fought over problems that are familiar to many Australian voters, which is why the outcome looks bad for the Coalition.
Uber cuts prices – but also pay rates for drivers
The company is expected to pull prices back by up to 5 per cent despite rising costs of insurance and fuel.
- Opinion
- Middle East tensions
Nobody has come out of the Payman row with clean hands
Labor now wears the ire of Muslim communities, while Peter Dutton has crafted his messaging to squeeze in everything from Fatima Payman to grocery prices, writes Laura Tingle.
Coal power on comeback trail as wind, solar falter
Electricity generation from coal has surged for the first time in nine years, wrecking emissions cuts and hammering home the disarray of Australia’s energy transition.
Genesis prevails over PE rival Crescent in stoush over Pacific Smiles
The two private equity firms have eyes for the ASX-listed dental group, but a decision by the Takeovers Panel has all but blocked one from advancing its bid.
- Updated
- UK election
‘Politicians are being voted out’: Warning for incumbents in UK result
Geopolitical and polling experts said the British poll showed fragmentation and populism, trends that could play into Australia’s 2025 election.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
UK ELECTION
Starmer vows to fix Britain after landslide win
Keir Starmer’s Labour Party won a historic landslide victory in the British election, consigning the governing Conservative Party to the wilderness of opposition.
- 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.
How London turned against the Tories
London might be the home of the professional and business elite but the UK election result effectively shut the Tories out of the English capital.
- 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.
- Opinion
- UK election
The Conservatives imploded. Labour simply filled the vacuum
Labour’s landslide shares some parallels with Tony Blair’s 1997 win but those end with Keir Starmer’s small target strategy and threadbare policy.
REVIEW
Indonesia’s remote new capital looks like a disaster
President Joko Widodo’s plan to create a city on an old timber plantation is late and over budget.
- 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.
- 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.
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Companies
Aramco denial fuels doubts over Santos’ portfolio
The Saudi giant may be one of several oil and gas producers that took a look at the $25.8 billion ASX company but decided against advancing a formal offer.
Suncorp dumps Warren Buffett insurance-protection deal
The decade-long arrangement had split the risks and rewards of the insurer’s exposure to weather in Queensland, covering 30 per cent of its home policies.
New-look Wallabies out to move on from World Cup fiasco
Captain Liam Wright is confident survivors of the team’s disastrous France campaign can use the ordeal to help them rise from a lowly world ranking of No.9.
- 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.
Revolut’s ambition adds to major banks’ headache
“If we do a good job, we can attract more customers from traditional banks,” says the global CFO of Revolut, which has more than 600,000 users in Australia.
- Analysis
- Legal industry
Santos takes aim at ‘cause lawyering’ in Barossa fight
The resources giant is going for the jugular in its fight with the Environmental Defenders Office over the NT gas pipeline.
Companies in the News
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Markets
Banks, miners drag shares lower; Magellan, GQG jump
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.
The next global investing megatrend: war stocks
Governments around the world are ramping up military spending – and fund managers are positioning accordingly.
UBS has a new suggestion for REIT investors – buy battered Mirvac
The bank’s analysts, in a 65-page overview of the sector, said the market had yet to confront the impact of higher interest rates. It expects two increases.
EQT’s latest $20b-plus infrastructure fund sets sights on Australia
The Swedish private equity firm expects to deploy billions of dollars in infrastructure by next March, and wants to add to its $11b of local deals.
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
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
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
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.
Columnist
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
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
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
‘The port would stop’: Fremantle workers threaten to walk off job
Western Australia’s largest container port could grind to a halt next week if a small group of key staff stop work over a pay dispute.
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.
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.
- 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.
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.
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.
Property
- Exclusive
- Luxury property
Stock picker takes Sunshine Beach spend to $46m
Wilson Asset Management founder Geoff Wilson and his wife, Karen Greer, have expanded their footprint in the area to three oceanfront properties.
- Exclusive
- Luxury property
Architects buy Wesfarmers executive’s Cottesloe mansion
Wesfarmers heavyweight Ed Bostock has sold the family home in Cottesloe following his appointment as CFO of the conglomerate’s health division.
- Exclusive
- Luxury property
Family behind global furniture sensation buy luxury clifftop home
The Condos family of luxury furniture brand Harbour Outdoor pick up a second Maroubra house, while former Pendal CEO sells in Cremorne.
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.
Wealth
How to turn a six-figure salary into lifelong wealth
Are you a HENRY (high earner, not rich yet)? Here’s how to rework your financial future to join the HNW (high net worth) ranks.
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
How Terri Irwin defied pundits with debt-free success
The wildlife warrior discusses business strategies that helped Australia Zoo navigate the shock death of her husband – and the zoo’s frontman – Steve.
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.
