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    Keir Starmer - the new man in town.

    Gaza backlash and other key lessons from UK’s election

    Gaza has shaken up the left, populism is shaking up the right. Labour’s majority is less secure than it seems, but Keir Starmer’s dullness could be an asset.

    The rate for workers ages 25-54, also known as prime-age workers, increased to a 22-year high of 83.7 per cent.

    US payroll growth slows, jobless rate edges higher

    Average employment growth over the last three months slowed to the least since the start of 2021, bolstering the case for a pivot to interest rate cuts.

    John Williams, president of the Federal Reserve Bank of New York.

    Fed’s Williams says inflation job not done despite progress

    New York Fed president John Williams said the economy was doing remarkably well and there had been significant progress towards inflation goals.

    Fortescue green dream sullied by spying revelation

    Andrew Forrest is nowhere to be seen after the discovery that private investigators were hired by the company to spy on the families of former employees.

    Time to buy into tech stocks has passed, says UniSuper

    Soaring technology stocks helped increase the retirement savings of the fund’s customers last financial year, but it’s hitting the pause button on further investment.

    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.

    The next global investing megatrend: war stocks

    Governments around the world are ramping up military spending – and fund managers are positioning accordingly.

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    UK ELECTION

    Sir Keir Starmer makes a speech outside Downing Street.

    ‘We will fight until you believe again’: Starmer vows to fix Britain

    Keir Starmer has officially become the UK’s new prime minister after a landslide victory in the polls and says he will lead a government focused on public service.

    Labor Party leader Sir Keir Starmer takes charge at a 5am speech on Friday morning.

    Starmer can help Britain redeem itself

    With a towering majority, a well-disciplined team and a ruthless instinct for power, Keir Starmer can restore some of the respect the Tories destroyed, writes Adrian Wooldridge.

    Prime Minister Anthony Albanese and UK Labour leader Keir Starmer have swapped notes extensively.

    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.

    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.

    SMART INVESTOR

    The king of 2024 was, however, much-maligned crypto, with bitcoin surging to close-out the financial year at circa US$60,000, representing a 105 per cent increase in its value.

    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.

    Four ways to build wealth with your tax cuts

    Whether you’re trying to pay off your mortgage early or boost your super, put your extra income to good use.

    Changes to responsible lending policies in 2020 mean banks are casting a tougher eye over expenses like online gambling and BNPL accounts.

    What’s worse for a mortgage application: a gambling or BNPL account?

    If you want to buy a house, lenders will go through your expenses with a fine-tooth comb – and Sportsbet and Afterpay accounts can be red flags.

    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.

    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.

    Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.

    Sign up for the Today’s Paper newsletter

    Companies

    Wind turbines are susceptible to lulls in wind speeds for days or weeks at a time.

    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.

    Tiwi Islanders holding banner they made to protest the Barossa Gas Project.

    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.

    Reinsurance industry stabilising: Suncorp’s Steve Johnston.

    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.

    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.

    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.

    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.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    .

    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.

    The ASX 200 is set to open lower.

    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.

    Opinion

    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.

    Michael Turner

    Contributor

    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.

    Ezra Klein

    Contributor

    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.

    Laura Tingle

    Columnist

    Laura Tingle

    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.

    Phillip Coorey

    Political editor

    Phillip Coorey

    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.

    The AFR View

    Editorial

    The AFR View

    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.

    Jennifer Parker

    Defence expert

    Jennifer Parker

    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 Sydney
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    Politics

    Anthony Albanese and Fatima Payman.

    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.

    Fatima Payman

    Fatima Payman goes from rising star to Labor rat

    The senator, who had a promising future as a Labor politician, says her conscience left her no choice but to quit. Party insiders, however, are fuming.

    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.

    Surge in NDIS top-up claims costing $5.5m a day

    The number of NDIS participants seeking unscheduled top-ups has jumped by 50 per cent as landmark reforms to control galloping costs are stalled in the Senate

    Tech companies team up against foreign interference

    A successful information-sharing model at work in the higher education sector will be rolled out to technology companies, to curb espionage in Australia.

    ‘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.

    SPONSORED

    World

    US President Joe Biden.

    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.

    Marine Le Pen and her protégé Jordan Bardella at a rally in Paris.

    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.

    Hot inflation and the fading prospect of rate cuts won’t help Joe Biden.

    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.

    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

    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.

    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.

    Mirvac’s chief executive Campbell Hanan. UBS has pointed to the diversified property group as one of its picks for the year.

    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.

    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.

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    Wealth

    Like many HENRYs, Sinead Connolly wants to create the type of long-term financial security enjoyed by high net worth individuals.

    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

    ‘I feel helpless’: techies are banning their kids from social media

    The professionals who understand most how social media and other tech platforms work are keeping their own children away from them for as long as possible.

    Uber is changing how it calculates prices, enraging the transport union but relieving customers.

    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.

    Over the course of 2023, the world’s solar cells, their panels currently covering less than 10,000 square kilometres, produced about 1600 terawatt-hours of energy.

    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.

    Work & Careers

    Perth-based arbitration specialist Sam Luttrell.

    Clifford Chance partner to dispute his termination

    Perth-based Sam Luttrell, a leading arbitration lawyer, was terminated by the firm after an investigation into complaints of serious misconduct.

    ‘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.

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    Life & Luxury

    Do you know this week’s news? Answer these 10 questions

    Have you been paying attention this week? Test your knowledge across politics, business and world news.

    Terri Irwin: At 60, would she retire?

    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.

    Emma Stone from the small but impressive cast that play out three separate stories.

    Sexual pathologists would have plenty to say about this film

    Director Yorgos Lanthimos has returned to his arthouse roots in Kinds of Kindnesses.

    Bryden Campbell, CEO of Brand Rebellion

    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?

    From the gallery