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    The Energy Awards recognise the people and businesses driving the future of the industry.

    Enter now

    CFMEU building division Victorian secretary John Setka

    John Setka quits CFMEU ahead of explosive allegations

    Powerful CFMEU boss John Setka has quit the union ahead of explosive allegations regarding misconduct involving himself and the union.

    Palace Hotel owner Ashok Parekh: “It just seems to me that in a market like this, the state and federal governments are not really seen to be doing much about it.”

    No cheers for politicians at Kalgoorlie pub as nickel work dries up

    The federal and WA governments are under the gun from people caught in the crossfire of BHP’s call to suspended nickel operations.

    ANZ’s alleged bond trade manipulation is ‘disturbing’

    MST Marquee veteran analyst Brian Johnson says the growing scandal in the bank’s markets division “could be yet a significant issue” for investors.

    Gas bill rises hit households despite east coast price caps

    Increases of up to 11 per cent from the biggest retailers will saddle families with steeper energy costs despite a mandated pause in electricity tariff rises.

    Brookfield to sell Neoen assets in Vic to seal ACCC tick

    The Canadian giant is in early talks to sell the 2.8-gigawatt portfolio of proposed wind and storage projects even ahead of the result of the ACCC inquiry.

    Only one country has a higher company tax rate than Australia

    Economists say the effective average tax rate of 28.5 per cent on company income makes Australia uncompetitive against global rivals and workers poorer.

    Army private and the labourer: The couple behind Russian spy plot

    Arrested at their Brisbane home, the couple are accused of being sleeper agents who allegedly tried to pass Australian Defence Force secrets to Moscow.

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    review

    donald trump and the capitol

    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.

    David Lammy.

    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.

    Hot inflation and the fading prospect of rate cuts won’t help Joe Biden.

    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.

    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.

    Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.

    Sign up for the Today’s Paper newsletter

    Companies

    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.

    Lim Kim Hai stepped down as the chairman of Rex last month, but has now called for other directors to go.

    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.

    Australia’s highest-paid CEOs include Greg Goodman (Goodman Group), Shemara Wikramanayake (Macquarie), Mike Henry (BHP), and Matt Comyn (CBA).

    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.

    BHP’s Nickel West mine in WA. BHP invested about $4.4b in the nickel business since 2020.

    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.

    ‘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.

    Companies in the News

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    Markets

    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.

    Shares are set to open higher in the final session of the trading week.

    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.

    Jerome Powell, chairman of the US Federal Reserve, will have a chance on Tuesday AEST to give his take on the June CPI data.

    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.

    Opinion

    Nickel is a sobering reminder of commodity fortunes

    Australia has been showered with resources export wealth for nearly 20 years. BHP’s nickel operations show we still have to get the basics of cost and productivity right.

    The AFR View

    Editorial

    The AFR View

    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.

    Laura Tingle

    Columnist

    Laura Tingle

    Biden’s biggest threat is from his own party

    Increasingly negative comments from congressional Democrats and donors are piling the pressure on the US president, writes Jennifer Hewett in Washington.

    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.

    Vesna Poljak

    Companies editor

    Vesna Poljak

    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.

    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.

    The AFR View

    Editorial

    The AFR View

    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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    Politics

    WA Independent member for Curtin Kate Chaney says her opposition to the government’s live sheep export ban was not motivated by votes.

    ‘Other things to do with my time’: teal Chaney’s approach to politics

    Independent member for Curtin Kate Chaney has rejected assertions a last-minute move to oppose the Albanese government’s live export ban was motivated by votes.

    An Italian fighter jet taking part in Exercise Pitch Black in the Northern Territory.

    Allies rally in show of force against China sabre-rattling

    The latest Pitch Black exercises over the Northern Territory involve at least 4000 personnel and 140 aircraft from 20 countries, including the Philippines and PNG for the first time.

    Australia has resisted Chinese pressure to scrap anti-dumping tariffs on steel railway wheels.

    Australia rebuffs China plea to end anti-dumping tariffs

    Tariffs on Chinese-made railway wheels will be reduced but not scrapped, following recommendations from the Anti-Dumping Commission.

    Australia commits largest Ukraine package at $250m, personnel for NATO

    Australia will provide its largest single military package to Ukraine since Russia’s invasion.

    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.

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    World

    Biden’s go-to playbook is failing and so might NATO

    The president has always believed that a strong foreign policy boosts his ratings at home but that might not hold true in this election campaign.

    Australia’s first Navy officers to graduate from the Royal Navy’s Nuclear Reactor Course.
L-R: Lieutenant Stephen, Lieutenant Commander James and Lieutenant Isabella.

    ‘Like lockdown, in a tube’: Aussies taking the plunge in nuclear subs

    After up to 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.

    Joe Biden said: “I’ve just got to pace myself a little more.”

    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.

    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.

    Property

    The Franklins have listed their Gold Coast hinterland home, known as Villa Casa.

    Jesinta Franklin on selling ‘life-changing’ Gold Coast villa

    Jesinta and Buddy Franklin are selling their luxury Gold Coast hinterland mansion Villa Casa as they plan to build a luxury farm.

    A home in Hunters Hill, Sydney, where development applications take an average of 198 days to be approved.

    Wealthiest councils are among slowest to approve DAs

    Among the slowest councils, only one represented constituents that on average earned below-average incomes.

    His master’s (gentle) voice: Over the course of an hour, he walked us through the preparation of a variety of sushi, tending to each of us individually, says the writer.

    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.

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    Wealth

    Expats’ savings at risk in maze of pension transfers

    Pension transfer company Brite Advisors is suspected by Australian and US officials of mishandling clients’ funds.

    The worst way to give your kids money, according to banks

    What every parent considering gifting or lending cash to their kids for a home deposit must know.

    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.

    Technology

    Investment bank Goldman Sachs forecasts a 6.1 per cent boost to US gross domestic product over a decade from AI.

    AI predicts own supremacy, orders itself dozens of McNuggets

    Former British prime minister Tony Blair’s think tank found AI could save a fifth of public servants’ time, but it turned the analysis over to OpenAI’s tools.

    Dan Roberts, the co-CEO of bitcoin miner Iren says

    Short sellers target Aussie bitcoin miner Iren

    Iren’s stunning share price rally has been derailed by a short seller’s report that said the bitcoin miner overstated its AI potential.

    Samsung Galaxy Z Fold6.

    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.

    Work & Careers

    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.

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    Life & Luxury

    They’re young, rich, and in the French Riviera

    Cashed-up, glamorous young Aussies have descended on Saint-Tropez and Monte Carlo, spending their time on superyachts and at $1500-plus per night hotels.

    Lorna Jane Clarkson at Sydney’s Park Hyatt.

    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.

    An advert for

    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.

    “Actors open themselves up to playing someone so convinced,” says Bojana Novakovic about her role as Lady Macbeth.

    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.

    Jimmy Harvey is a fashion designer and collector of Mambo T-shirts and prints.

    Why Millennials will pay $1000 for your old shirts

    Forty years after the launch of Mambo, young Australians are again obsessed with the brand.

    From the gallery