‘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.
Shares up as UK treasurer vows to ‘work hand-in-glove’ with business
The FTSE 250 touched its highest level since April 2022 as Sir Keir Starmer became prime minister, powered by a rally for home-building stocks and property companies.
Biden digs in, declares he’s staying in the race
In a speech that addressed questions about his age, the president said those imploring him to end his bid were trying to overturn the will of primary voters.
- Analysis
- Israeli-Palestinian conflict
The Muslim vote was a disaster for Starmer and could be for Albanese
An analysis of the 23 seats in the UK where Muslim Vote candidates opposed Labour, resulted in an unmitigated disaster for the party. Repeated here, it would be a wipeout for Labor in western Sydney.
Meta, Apple drive Nasdaq, S&P 500 to record highs
Investors continue to press tech valuations higher bolstered by renewed bets that the Federal Reserve is closer to a rate pivot.
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.
Fault lines: The growing divide threatening our society
Labor senator Fatima Payman’s resignation from the party highlights a schism between Muslims and the major parties. At risk is Australia’s multicultural ethos.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
UK ELECTION
- Analysis
- UK election
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.
- Opinion
- UK election
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.
- 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.
SMART INVESTOR
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.
- 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.
How the 50/30/20 budgeting hack can unlock your finances
This straightforward strategy suggests dividing your income into three buckets: needs, wants and financial goals.
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.
- 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.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
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.
- 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.
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
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Markets
The next global investing megatrend: war stocks
Governments around the world are ramping up military spending – and fund managers are positioning accordingly.
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.
US jobs data bolsters rate cut bets: Wall Street
US bond yields fell and equities extended their rally as the path to a Fed pivot has become ever so slightly wider.
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.
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.
Opinion
Keir Starmer can drive Britain to reform-led growth
Britain’s new PM must lock in growth quickly if he is to secure Labour’s huge win. But with a planning system from hell and a 17,000-page tax code, there is plenty of scope for reform.
Editorial
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.
Bloomberg columist
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.
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.
Columnist
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.
Contributor
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
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
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.
- Analysis
- Federal election
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.
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.
- 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.
SPONSORED
World
Biden digs in, declares he’s staying in the race
In a speech that addressed questions about his age, the president said those imploring him to end his bid were trying to overturn the will of primary voters.
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.
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.
- 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.
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.
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.
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.
- 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.
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
‘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 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.
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
- Exclusive
- Legal industry
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.
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.
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?
