‘Folly’: Littleproud brushes aside Qld LNP’s nuclear stance
Nuclear energy was the elephant in the room at the LNP convention in Brisbane on Saturday, where Peter Dutton forged ahead with the pitch.
Albanese congratulates Keir Starmer on emphatic victory
The two prime ministers discussed the AUKUS submarines agreement, climate change policy and the war in Ukraine.
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.
Biden says debate was ‘just a bad night’
US President Joe Biden says he is being honest with himself that he will be able to carry out the duties of president for another four years, but says he has not had any neurological testing done.
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.
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
- 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, writes John Black.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
WEEKEND READS
The war in Gaza is dividing Australians. Business is worried
Paul Bassat says Australia is fighting a “war of ideas” and losing; John Mullen says business people are too scared to say what they really think and Rod Eddington fears multiculturalism is under threat.
- Analysis
- UK election
Key lessons from Starmer’s big win
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
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.
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.
‘In a nosedive’: Can Biden last in the election race?
Democrats were hoping the month of June would totally change the trajectory of Biden’s campaign. It has, just not the way they wanted it to.
SMART INVESTOR
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.
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.
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Companies
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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. 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
Why Britain’s new PM could hold the 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
- 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.
- 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.
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.
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.
SPONSORED
World
‘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.
Reformist candidate wins Iran’s presidential election
Reformist candidate Masoud Pezeshkian won Iran’s run-off presidential election by promising to reach out to the West and ease enforcement on the country’s mandatory headscarf law.
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.
How Angela Rayner became one of Britain’s most powerful women
She grew up in dire poverty caring for a sick mother on a council estate. But Angela Rayner’s drive to succeed propelled her to the top of the Labour Party.
- 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.
Property
- Exclusive
- Luxury property
Family behind global furniture sensation buys $10.5m Sydney clifftop home
The Condos family of luxury furniture brand Harbour Outdoor pick up a second Maroubra house, while former Pendal CEO sells in Cremorne.
- 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.
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
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.
Heavy office tower exposure drags down Cbus’ annual returns
But the construction industry super fund stood by its heavy allocation to the asset class, even as its financial year returns fell below rivals.
- Opinion
- Superannuation
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.
Technology
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.
- 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
- 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 education method that’s made this family millions
When Charles and Colette Assaf bought a Montessori childcare business in 2000, the IT entrepreneur never expected it would become his family’s future.
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.
Are you overweight or obese? Depends on where you carry your fat
European experts have developed a new framework to modernise the staging, diagnosis and management of obesity.
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?
