Telstra shares rally on phone plan price rises
Telstra shares jumped 2.5 per cent in midday trading to their highest level since April, after the telco giant announced it would lift the prices on its mobile phones plans including cheaper brands from next month.
- Opinion
- World elections
Confused despair grips Democratic voters
Joe Biden seems to be revelling in his determination to once again prove his doubters wrong. The Trump campaign is confident it ensures their victory on November 5. Jennifer Hewett reports from Denver.
Bapcor board’s lack of engagement another blow to credibility
There was outrage in the Bain Capital camp on Tuesday morning after embattled automotive parts distributor Bapcor knocked back its $5.40 non-binding bid.
Insignia taps Citi bankers as private equity firms circle
Sources said former MLC boss Geoff Lloyd has been shopping his turnaround credentials and industry nous to potential bidders for the 178-year-old wealth manager.
Unions hail return of NSW Industrial Court
Unions NSW boss Mark Morey says the court will “help moderate the excesses” of the federal system.
- Live
- Markets Live
Consumer and mining stocks buoy ASX; Telstra rallies
Shares advance; Telstra increases price of mobile plans; Bapcor rejects Bain Capital takeover bid and appoints local 7-Eleven chief executive Angus McKay as CEO. Follow updates here.
- Live
- Need to Know
White House dodges questions over Parkinson’s doctor
Biden’s physician says he visits White House to treat military members; Anthony Albanese appoints lawyer, business woman to envoy to combat antisemitism. Follow for updates.
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TUESDAY TECH
- Exclusive
- Start-ups
Mega VC deals are back - but new founders face a big problem
After an 18-month lull, funding is flowing back into start-ups, but in a two-speed sector, some are struggling to meet investors’ high expectations.
What to expect from Samsung’s biggest launch of the year
An outdoorsy Galaxy Watch Ultra could be the biggest news at this week’s Unpacked, alongside the usual artificial intelligence announcements.
- Analysis
- The Breakdown
Mark Zuckerberg shows he is, like a teen, desperate to be cool
The man who has everything is still stung by criticism and anxious for validation online, proving his critics right about Meta’s effects on mental health.
- Exclusive
- Start-ups
Start-up ditches carbon credits supplier after Zimbabwean fiasco
Sendle’s CEO says it has found new suppliers to stay carbon neutral as it faces a wave of discontent from former staff.
Movie stars to narrate audiobooks from beyond the grave with AI
The estates of Judy Garland, James Dean, Sir Laurence Olivier and Burt Reynolds have sold the rights to their famous voices to be used by an AI gimmick reader app.
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Companies
ASIC queried Qantas’ knowledge of ACCC investigation as shares fell
The regulator wrote to the competition watchdog requesting a “a better understanding” of the probe into ticket sales on cancelled flights, emails reveal.
- Exclusive
- Sales
Rivers of gold from Surfers Paradise towers flow to ex-Evergrande exec
A local real estate developer with extensive links to the collapsed Chinese property giant says it has more than $500 million in unsold units on the Gold Coast.
- Updated
- Mergers & acquisitions
Bapcor rejects Bain’s $1.83b offer, lures exec chair from 7-Eleven
The struggling automotive parts group also flagged an impairment, and said the private equity firm’s cash proposal did not reflect the value of the company.
Interest rate uncertainty dogs builders as buyers stay away
Less than half of companies polled by Macquarie said they expected sales to increase, even as inquiries for new houses begin to increase from last year’s lows.
- Investigation
- Property investment
NDIS housing scheme firm forced to refund fees for ‘lack of service’
ASR Wealth had aggressively marketed double-digit “government backed” returns and raised millions from retirees and other retail investors from NDIS properties.
Mediaweek publisher to ‘step back’ amid workplace misconduct claims
Formal complaints about alleged behaviour of Trent Thomas, owner of the trade media publication, lodged by two people and investigated by external firms.
Network Ten owner sold to ‘Top Gun’ billionaires
The billionaire family behind Oracle Corporation along with ‘Mission Impossible’ and ‘Top Gun’ films will take control of the network in a complex deal.
Companies in the News
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Markets
Private credit pioneer meets Goldman Sachs money man
Under-the-radar private credit boutique Alceon snaffles a big name former Goldman Sachs banker to be its CEO. It’s a very 2024 story.
Wilsons joins growing chorus of Guzman y Gomez bulls
Shares in the much-hyped Mexican fast-food chain are tipped to surge more than 10 per cent in the next year, fuelled by ‘significant and sustained earnings growth’.
Why Morgan Stanley says this ASX 200 ETF is the best
Exchange-traded funds that track a major index continue to grow in popularity among investors, but which one is better?
Private credit jumps 45pc in five years and is threatening banks: Citi
Risk-averse major lenders have created a “structural” change in the market by staying away from indebted companies and commercial real estate, analysis says.
Some of the Gulf’s most influential investors? They’re Australians
The region’s state-owned investment funds that account for more than $US3 trillion ($4.44 trillion) in capital – increasingly deployed into Australian companies.
Opinion
Confused despair grips Democratic voters
Joe Biden seems to be revelling in his determination to once again prove his doubters wrong. The Trump campaign is confident it ensures their victory on November 5. Jennifer Hewett reports from Denver.
Columnist
For anyone but Trump, US needs anyone but Biden
It’s likely Joe Biden will stumble again on the campaign trail, giving Americans more reason to make the Hobson’s choice of voting for the morally unfit Donald Trump.
Editorial
Control of the sea is worth gambling on AUKUS
To any objective observer it is apparent acquiring SSNs has significant advantages for national security. However, these come with major costs and risks.
Defence expert
Europe now leaderless as global threats rise
President Emmanuel Macron’s authority in Europe has shrunk after chaotic national elections, while the UK’s influence has been hobbled by Brexit.
Columnist
This is the new normal of office life
Flexible working patterns in a decent place that makes it easy to do the job you’re paid for is a basic recipe for success in a post-pandemic world.
Columnist
CSIRO brings science, not politics, to electricity cost debate
Some nuclear fans claim the agency has a position on Australia’s energy mix. That is both wrong and a fundamental misinterpretation of the GenCost report.
CSRIO
Reports
Sustainability Leaders
The list celebrates Australasian companies that are making real progress in tackling sustainability challenges – and delivering business value along the way.
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Australia pours millions into Pacific banks to counter China influence
The worry among the national security establishment is some Pacific Island countries will be forced to rely on Chinese financial institutions, which are pushing into the region.
More RBA rate rises ‘unwarranted’ as non-migrant jobs growth tumbles
Yarra Capital chief economist Tim Toohey has cut his economic growth forecast from 2.25 per cent to 1.75 per cent in 2024-25, well below the RBA’s 2.1 per cent.
UK results signal Labor threat from Muslim Vote
Labor believes the war in Gaza will boost independents and the Greens, including in the Melbourne electorate of Wills.
No backward step cutting off money flow to criminals: Dreyfus
The strong words from the attorney-general will come hours after the international body tasked with co-ordinating global AML/CTF efforts slams Australia’s performance.
Against a gloomy security outlook, leaders gather for NATO summit
Australia will have a diminished presence as the summit grapples with China, Russia, Iran and North Korea working together to upend the global order.
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World
- Analysis
- US election
Can Biden survive this week’s big tests?
The US president faces key challenges in the coming days: a party meeting discussing his nomination, and hosting NATO leaders who will be watching him closely.
Markets on tenterhooks as French politicians jostle for power
France’s left-wing parties are scrambling for a way to break the political impasse created by President Emmanuel Macron’s snap parliamentary election.
Putin uses stealth missiles in Ukraine children’s hospital attack
Ukraine accused Russia of using missiles that fly low to the ground to avoid radar and cause maximum damage to target the country’s biggest children’s hospital.
Angry Biden launches offensive to hold on to job
The US president has dared his critics to “challenge me at the convention” if they want him out of the presidential race.
House Democrats join calls for Biden to step aside
More Democrats in Congress are expected to voice their concerns that the president step aside, but others are mounting efforts to stand by him and refocus.
Property
- Exclusive
- Sales
Rivers of gold from Surfers Paradise towers flow to ex-Evergrande exec
A local real estate developer with extensive links to the collapsed Chinese property giant says it has more than $500 million in unsold units on the Gold Coast.
Foreign land buyers take class action against Victorian surcharge
It’s the latest step in a debate between those who argue taxation based on nationality is discriminatory and state governments that say it’s about revenue.
Home loan size hits record $626,055 as Perth, Brisbane power up
Owner-occupiers are, on average, taking out larger loans than ever before despite the fact the cash rate is sitting at a 12-year-high.
One-bed unit, no car park – the price? Almost $1m
There were not many takers for this nice, but expensive, property. But one buyer valued it differently – and was prepared to pay for that.
Redcape sells trio of pubs for $136m to meet priority redemptions
Redcape managing director Chris Unger said the group will pay out priority redemptions and provide $40 million of liquidity over the next year.
Wealth
How this 29-year-old pilot plans to retire at 50 with $2.5m
From meal-prepping a month in advance to investing in Tesla and Coca-Cola, here’s how one young couple is hoping to retire early.
How to navigate the greatest risk to your portfolio
If inflation is sticky and volatile, many holdings may be more dangerous than you think. Here’s how to drive around the potholes.
Super fund savings will ride out ‘year of elections’: CIOs
But investment chiefs warn that the rise of populism or an increase in US-China tensions could flow through to short-term returns.
Technology
- Exclusive
- Start-ups
Aussie tech’s climate crisis as start-ups face capital crunch
At least 100 Australian climate tech start-ups need to raise capital in the next nine months to avoid going bust, but say the bar for investment is sky-high.
- Exclusive
- Start-ups
Start-up ditches carbon credits supplier after Zimbabwean fiasco
Sendle’s CEO says it has found new suppliers to stay carbon neutral as it faces a wave of discontent from former staff.
Mt Gox repays ‘forced’ bitcoin holders years after its collapse
Japanese bankruptcy lawyers have begun repaying thousands of creditors of collapsed crypto exchange Mt Gox, including some Australians.
Work & Careers
- Exclusive
- Gender equality
The client meeting from hell: how sexism still stalks the C-suite
Culture Amp research suggests that while all men in board positions believe their opinions are valued, 10 per cent of executive women don’t.
Scyne hires from public service, new KPMG role for former OECD exec
Public sector consulting firm Scyne has appointed its first new managing director, while KPMG has brought on former Labor minister David Bradbury as a partner.
Life & Luxury
Are you guilty of these eight unhealthy ‘microaggressions’?
Such behaviour can have a serious impact on mental and physical wellbeing, including depression and sleeping problems, say experts – so it may pay to avoid it.
De Minaur slays his Wimbledon demon to reach quarter-finals
The Australian Alex De Minaur could meet Novak Djokovic in his first-ever Wimbledon quarter-finals.
- Gadgets With John Davidson
- Digital Life
We went from hate to love in no time flat with this electric scooter
It may not have the charm of a Vespa, but this nifty and very reasonably priced bike from Segway gives it a run for its money.
The Olympic city puts pop-up before pomp
Its peerless architecture is being called into service for the Games. Will hosting Olympic events at iconic venues showcase Paris, or sully it?
The all-in-one physical, mental and emotional workout
Kimbali Harding began learning piano as a toddler. The hobby has not just guided her career choice – she can’t imagine her life without it.
