The Energy Awards recognise the people and businesses driving the future of the industry.
Biden’s go-to playbook is failing and so might NATO without it
Concerns are growing that without Joe Biden, his prediction that the future of NATO could be in doubt, may become real.
Army private and her husband charged with spying for Russia
Arrested at their Brisbane home, the couple are accused of being sleeper agents who allegedly tried to pass Australian Defence Force secrets to Moscow.
- Live
- Markets Live
Shares hit record high; CBA tops BHP as market’s most valuable company
NAB hits post-GFC high. CBA hits record high. BHP falls. Traders ramp bets on US Fed rate cuts on shock inflation data. Bond yields fall. Citi tips Rio to do lithium deal. Follow here.
‘Give her a go’: New judge blasts ‘painfully slow’ progress for women
Jane Needham blasted the “painfully slow” progress of women in law and urged barristers to consider briefing “that young woman who went to a school you haven’t heard of”.
- Opinion
- Interest rates
This rule suggests the US is on the brink of recession
The gradual increase in US unemployment has almost satisfied the “Sahm rule”, which has correctly identified the inception of all US recessions, writes Christopher Joye.
- Live
- Need to Know
Biden’s gaffe ruined months of hard work: European officials
Albanese stands by Australian intelligence amid disturbing security threat; aids believe Biden will have to abandon campaign. How the day unfolded.
Private equity hunts for $66b in exits
Dozens of big name companies have sat with the same firms – from Quadrant to KKR – for longer than usual, with impatient investors pushing for returns.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
review
- Analysis
- Terror charges
This is how an American civil war begins
Extremists across the US are preparing for what they call the ‘boogaloo’ – a mass insurrection to overthrow the US government.
Britain’s foreign secretary hates Trump and loves America
The child of Caribbean immigrants, David Lammy befriended Barack Obama on his rise through politics – and developed a dislike for the Republican nominee.
- Opinion
- USA
Joseph Biden must give up the presidency
A man who needs to clock out at 8pm should not attempt two of the world’s most difficult jobs: serving and running for president, the New York Times argues.
- Opinion
- Protests
Australia’s great threat is a clash of civilisations
Seismic undercurrents of discontent are surfacing in society as religious beliefs collide and a generation is locked out of the housing market.
US hedge fund made 50pc on Adani short-sell attack
New York investment fund Kingdon Capital Management had advance notice of a research report accusing the Indian conglomerate of fraud last year.
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Companies
Rex faces boardroom coup as Singaporean investors push to oust chair
The largest shareholder of the regional carrier has called for a shareholder vote just a month after he stepped down as the airline’s executive chairman.
Who are the highest paid ASX 200 CEOs?
New research shows that ASX 100 CEOs earn on average 50 times more than the average Australian adult.
- Updated
- Mining
BHP shuts nickel business to arrest losses
BHP will suspend nickel mining after massive losses in a move that casts doubt over thousands of jobs in Western Australia and will inflame tensions with the Albanese government.
Macquarie-owned water company faces $103m fine
Britain’s water regulator said Southern Water is too heavily geared, and must pay a fine if it doesn’t improve its “inadequate” business plan.
- Exclusive
- Bonds
‘Those involved will be held accountable’: ANZ boss amid scandal
ANZ CEO Shayne Elliott has admitted to staff that the alleged wrongdoing and inappropriate trading raised by the Financial Review is “not new”.
Aurizon acquisition could push up cargo prices: ACCC
The company’s attempts to move into stevedoring in South Australia as it expand its bulk freight business could be used to “frustrate” rivals, the regulator said.
Not so Good Guys: Electronics chain misled shoppers for years, says ACCC
Customers at the JB Hi-Fi-owned chain may have purchased items which they might not have done otherwise, according to ACCC chair Gina Cass-Gottlieb.
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Markets
- Opinion
- Earnings season
Earnings season will reveal the real inflation picture
Prices are still going up but many companies are realising the limits of their powers, and central banks should be paying attention.
US September rate cut comes into sharper focus
The unexpectedly good US June CPI report has triggered a surge in the probability of a September rate cut to more than 90 per cent.
US inflation falls in June, bolstering rate cut bets
Consumers prices eased by 0.1 per cent last month, helping the annual rate fall to 3 per cent, a boost for beleaguered President Joe Biden.
What happened overnight? The S&P 500 fell on September rate cut bets
Australian shares were set to open higher. Wall Street dropped as June’s shock CPI data triggered a rotation out of tech and into small caps.
Tesla tumbles on report of delayed Robotaxi unveiling
Tesla is delaying its planned robotaxi unveiling to allow teams working on the project more time to build additional vehicle prototypes, Bloomberg reported.
Opinion
Will the PM set up an election while the sun is still shining?
The legislative gridlock, a tricky economy and a Trump crisis all make a case for going to voters sooner rather than later.
Columnist
Biden’s biggest threat is from within his own party
Increasingly negative comments from congressional Democrats and donors are a tidal wave rolling over the White House lawns, writes Jennifer Hewett in Washington.
Columnist
Earnings season will reveal the real inflation picture
Prices are still going up but many companies are realising the limits of their powers, and central banks should be paying attention.
Companies editor
This rule suggests the US is on the brink of recession
The gradual increase in US unemployment has almost satisfied the “Sahm rule”, which has correctly identified the inception of all US recessions.
Columnist
Shipping shock glimpse of world without rules
The Houthi missile blockade in the Red Sea driving a new spike in import freight costs shows a global exporter and importer such as Australia has a critical interest in maintaining free and open global trade.
Editorial
The smarter way to exploit China’s technical expertise
China has a lot of know-how of its own. We should be working out how to absorb it rather than walling it off.
Columnist
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 commits largest Ukraine package at $250m, personnel for NATO
Australia will provide its largest single military package to Ukraine since Russia’s invasion.
- Exclusive
- Infrastructure
Victoria’s secrecy stalls cash for Suburban Rail Loop
Victoria has failed to hand over critical information about its controversial rail loop for almost two years despite seeking $11.5 billion from taxpayers.
The worrying signal small business is sending on the economy
If the sector is the canary in the coal mine, Australia’s economic growth is not looking good, according to a new economic indicator from accounting software giant MYOB.
Defence deal with Accenture breached rules: auditor-general
The Defence Department’s acquisition of a computer system for security vetting was at odds with Commonwealth purchasing rules.
No rate cuts and maybe a rise as inflation sticks, super funds warn
The investment chiefs of the country’s biggest funds also have a bleak outlook for Aussie shares over the next year, after global equities drove double-digit returns in FY23.
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World
‘Like lockdown, in a tube’: Aussies taking the plunge in nuclear subs
After 18 months of training, three Australian submariners will deploy on British Astute-class boats. It’s a small step on the long road to AUKUS.
Biden vows to fight on after press conference gaffes
The president called his vice president Trump instead of Kamala Harris in a slip at the conference, and said other candidates could beat his rival at the election.
- Analysis
- US election
Biden’s performance unlikely to stop the bleeding
The US president’s challenge after the debate debacle is that every public appearance between now and November will be scrutinised for evidence of infirmity.
China sends most warplanes ever across Taiwan key line
The dispatch comes after Taiwan’s new president said he was considering passing through the US while potentially visiting nations that have ties with Taiwan.
Democratic donors warn of campaign funds ‘drying up’ as Biden holds on
Donors have become crucial in the fight over the president’s future, with some pushing for him to withdraw even as Democrats on Capitol Hill waver.
Property
Wealthiest councils are among slowest to approve DAs
Among the slowest councils, only one represented constituents that on average earned below-average incomes.
- Exclusive
- Restaurants
Crown offloads Nobu stake in deal valuing restaurant group at $1.3b
Blackstone-run Crown has had a 20 per cent stake in the acclaimed Japanese chain, part-owned by Robert De Niro, since James Packer bought in a decade ago.
How Sharona avoided years of saving to afford a five-bedroom home
Sharona Ghaemmaghami and her boyfriend paid lenders mortgage insurance to enter the housing market earlier than if they saved for a 20 per cent deposit.
House price growth to ease under 5pc as affordability bites
Some of the heat is finally coming out of the market’s remarkable rebound as the burden of servicing mortgages weighs more heavily on prospective buyers.
- Exclusive
- Luxury property
Hedge fund manager’s Perth mansion sells for $25 million
A contemporary mansion in Mosman Park has sold for $25 million in Western Australia’s biggest residential deal so far this year.
Wealth
Expats’ retirement savings at risk in maze of pension transfers
Pension transfer company Brite Advisors is suspected by Australian and US officials of mishandling clients’ funds.
A mind trick helped Mike buy this $300k car. Next? A $15m mansion
Millionaires reveal the money psychology hacks they swear by, detailing how delayed gratification can make you richer – and more in control of your goals.
The workshop that teaches young rich kids to manage huge fortunes
During family retreats, kids start learning about managing money and donating to charity from an early age.
Technology
Meet Samsung’s new Ring, Watch Ultra and not-so-new folding phones
At its biggest gadget launch of the year, the Korean tech giant finally launched its finger-worn health tracker and a new outdoors-oriented watch.
With its new wearables, Samsung goes toe-to-toe, ear-to-ear with Apple
The tech giant has finally released its long-awaited Galaxy Ring fitness tracker, but it’s not coming to Australia until later this year.
Microsoft, Apple walk away from OpenAI board
The ChatGPT maker plans a strategy to engage with its crucial partners as regulatory scrutiny of the sector increases.
Work & Careers
- Exclusive
- Legal industry
The Federal Court turmoil that’s destroying staff morale
The Federal Court is grappling with high executive turnover, a troubled technology transformation and fallout from a document access regime that has upset media and judges.
Secrets of Olympians who have conquered the business world
BOSS speaks to six former Olympians, including Wesfarmers CEO Rob Scott and Generation Life CEO Grant Hackett, about the most valuable business lessons they learnt from sport.
Life & Luxury
Activewear queen Lorna Jane on why debt is a downer
The fitness advocate and athleisure pioneer celebrates 35 years in business this year – with no plans to stop.
Why sneaker king Nike was kicked into an $18b black hole
The world’s largest sportswear maker is in crisis following a disastrous restructuring, and as its sneakers lose some of their cultural cachet.
Lessons in ambition from Lady Macbeth
The actress Bojana Novokovic admits to admiring the chutzpah of Shakespeare’s most scheming wife ahead of playing her in a new theatrical production.
Why Millennials will pay $1000 for your old shirts
Forty years after the launch of Mambo, young Australians are again obsessed with the brand.
- Opinion
- Fertility
Me, my niece and a generational shift in thinking about babies
The “happy accidents” that led to so many families having three or more children are a lot less likely to happen now.
From the gallery
The Australian Financial Review Magazine
About Time Watch Weekend to return in September
- Matthew Drummond
BOSS Financial Review
Secrets of Olympians who have conquered the business world
- Euan Black and Patrick Durkin
