- Opinion
- Trump's White House
Tariffs, inflation, debt: The economic hits of a re-elected Trump
Trump’s first term tariffs did not crater the US or world economies. The same cannot be said for his far more ambitious plans the second time around, writes Richard Holden.
- Exclusive
- AUKUS
Revealed: Turnbull’s Paris option to revive French subs deal
Former prime minister Malcolm Turnbull paved the way for Australia to renegotiate the French submarine contract when Labor came to power, but there was silence from the new government.
- Analysis
- Billionaires
Old and new money meet at billionaires’ annual retreat
Network Ten owner Shari Redstone was in Sun Valley along with Bob Iger, a crop of Democratic presidential hopefuls and the tech elite for the annual Allen & Co gathering.
Bronco’s sponsor Firstmac is first firm hit under suitability laws
Firstmac has become the first financial outfit pinged by new regulations designed to ensure suitable products are promoted to customers.
- Live
- Markets Live
Miners drag ASX lower; Insignia falls 7pc; Bell Financial jumps
Shares decline at the closing bell; Incitec Pivot stops sale negotiations for fertilisers business; Bell Financial forecasts 47 per cent profit jump; miners fall as iron ore futures lower. Follow updates here.
Macquarie says it’s time to buy real estate stocks before rate cuts
The broker has warned that the “best” phases for ASX returns is behind us and is urging investors to buy more defensive companies amid signs that returns are starting to falter.
- Opinion
- Australian economy
Why we need ‘wickedly hard’ reform in Australia
Such measures, however, would have to first wrestle the biggest policy reform chiller of all – vertical fiscal imbalance, write Karen Chester and Helen Silver.
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Companies
Incitec Pivot ditches fertiliser sale talks with Indonesian buyer
The chemicals giant said it shelved the negotiations due to transaction delays as it flagged a $900 million on-market share buyback would still go ahead.
Bronco’s sponsor Firstmac is first firm hit under suitability laws
Firstmac has become the first financial outfit pinged by new regulations designed to ensure suitable products are promoted to customers.
- Exclusive
- Casinos
Gaming no longer ‘glorious part of the business’: Star boss
Steve McCann says the company’s casino business might never return to the boom times and its future is likely to lie in its restaurants and hotels.
Transmission ‘will get easier’ after EnergyConnect: Transgrid CEO
Brett Redman’s comments come as speculation mounts Transgrid will need to bring other contractors in to complete the delayed $2.3 billion transmission project.
- 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.
Perpetual’s $100m private debt pitch shies away from real estate
The fund manager is beefing up its $450 million listed credit fund, capitalising on a 10.2 per cent 12-month return.
Queensland breaks ground on $5b transmission project
The Copperstring project will eventually link the mining region of Mount Isa with the port city of Townsville via an 840-kilometre-high transmission line.
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Markets
New Zealand eyes August rate cut after ‘dovish pivot’
Market pundits have ramped up bets that the RBNZ may cut interest rates as soon as next month after the central bank said it was confident that inflation will return to target.
ASX-listed crypto fund in stoush with co-founder over $29m wallet
DigitalX is heading to court against a former executive over who owns bitcoins linked to collapsed exchange Mt. Gox, which began paying creditors this week.
Aussie ETFs top $200b as investors flood back to stocks
Strong performance from funds exposed to global equities are drawing investors and fund managers to the fast-growing local ETF market.
Job losses weigh on Powell’s rate cut call
The US Federal Reserve and bureaucrats are paranoid about risks to the labour market from high business borrowing costs, all while hoping price growth slows.
What happened overnight? US stocks rose on Powell’s rate signal
Australian shares were set to open lower. The S&P 500 edged up to another record closing high, bolstered by renewed hopes for a September interest rate cut.
Opinion
Inside the Democrats’ fight over Biden
Hosting the NATO summit was supposed to help the US president demonstrate unity within the Democratic Party. But it is tearing itself apart.
Columnist
Why we need ‘wickedly hard’ reform in Australia
Such measures, however, would have to first wrestle the biggest policy reform chiller of all – vertical fiscal imbalance, write Karen Chester and Helen Silver.
It’s an energy race between the implausible and the impossible
Peter Dutton has come up with a nuclear-powered cost of living wedge to expose Labor’s overreach on renewables and sustainability.
Energy expert
Where do Australia’s China ties go after hack?
The public outing only raises the question of where Australia takes the matter from here, and what it expects China to do.
Editorial
Both men running for US president are unfit for the job
One is a good man in obvious cognitive and physical decline, and the other is a bad man who lies as he breathes – and who is in his own cognitive tailspin.
Contributor
France says adieu to the centre
Australia too faces a drift to minority government, polarisation and identity politics at the next election, which France showed how easily can go off course.
Editorial
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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- Exclusive
- Industrial relations
CFMEU deal helps add 10pc to apartment costs
The CFMEU’s latest wages deal for NSW will increase labour costs by up to 19 per cent in the first year alone, a new analysis finds.
Cattle farmers go to war with Labor over class action
Cattle farmers have accused Attorney-General Mark Dreyfus of launching an appalling, contemptuous and “outrageously misleading” attack on them.
- Exclusive
- White collar crime
Why diamond studded Swiss watches and luxury handbags worry AUSTRAC
The financial crimes watchdog’s chief executive Brendan Thomas says luxury goods along with cash and real estate have received its highest risk rating.
Labor under pressure to confront China over hacking
The government is under pressure to confront Beijing after its main counterintelligence agency named a hacking group linked to China’s Ministry of State Security.
Jillian Segal named as special envoy on antisemitism
Prime Minister Anthony Albanese rejected criticism of his government’s response to tensions as he appointed Australia’s first envoy on discrimination against Jews.
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World
- Updated
- NATO
NATO to bolster Ukraine’s air defence following hospital attack
The White House hoped Joe Biden could turn the page on the speculation with his speech, which was being closely scrutinised for any verbal flubs or signs of confusion.
China’s consumer price growth weakens ahead of key summit
Factory deflation eases but Beijing’s reliance on exports and industrial output is stoking trade tensions
Europeans use NATO summit to meet Trump officials
The moves point to concern about Joe Biden’s re-election prospects among US allies.
Macron coalition talks shaky as left ‘behaves like children’
While French leftists demand the premiership, the president faces fissures in his own camp.
Biden fends off leadership test, praised by Marles
Democratic politicians failed to reach a consensus on whether to fall in line behind President Joe Biden’s resolve to pursue his re-election bid.
Property
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.
The $175b super fund that’s shopping for old London office blocks
With $11 billion in its property portfolio, Aware has been unafraid of going early and hard with a countercyclical strategy. And it means going global.
Now is the time to buy commercial property, says this veteran analyst
Veteran real estate research analyst Sameer Chopra says population growth and the high cost of construction will lead to property values surging.
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.
Wealth
- Opinion
- Property investment
This fledgling asset class is generating double-digit returns
Investors are earning attractive returns from land lease communities, which can generate an annuity-style income.
We inherited dad’s house in the UK – where to pay capital gains tax?
Sisters who moved countries find tax and administration penalties could eat into their inheritance.
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.
Technology
The consultant telling business what not to do with AI
Data analytics expert Monica Ly says artificial intelligence should only be used to save on costs or generate revenue.
Telstra increases phone plan prices above inflation rate
The telco is lifting prices for most of its mobile plans – and analysts warn there could be more price increases to come.
Who are the Chinese hackers named by Australia?
They are based in China’s south and have allegedly operated via a front company called the Hainan Xiandun Technology Development Co.
Work & Careers
A beginner’s guide to surviving a business conference
“Making new connections”? If you don’t know why you’re at an industry gathering, you need to come up with a strategy.
Heart Research Institute fights claim it ousted whistle-blower
The Heart Research Institute faces allegations it pushed out its former head of cardiovascular research because he raised concerns about underpayment of funds and conduct of board members.
Life & Luxury
Work friends can be hard to find. How to combat workplace loneliness
Remote work has only intensified a problem that has been bubbling for decades.
Ferrari’s first electric car may cost more than $800,000
By the end of the decade as much as 80 per cent of the car maker’s new vehicles could run on batteries. The first is scheduled for 2025.
How to eat your way to a good mood
What you eat doesn’t just affect your waistline but your emotional outlook as well.
The horror of war in a century-old letter
A letter from the WWI front line and a book of poetry by a famous Sydney eccentric will be auctioned in a sale of arts, war and social history.
Why young people love London’s newest luxury hotel
In contrast to its heritage-rich big sister in Hyde Park, the £1000 a night Mandarin Oriental Mayfair is cheekier and more focused on fun.
