The Energy Awards recognise the people and businesses driving the future of the industry.
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.
S&P 500 rebounds to record high on rate bets
All three US benchmarks rallied after more price data lifted optimism that the Fed is poised to cut rates, perhaps even by half a percentage point in September.
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.
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.
AT&T hack undermines US national security, experts say
AT&T said a hacker had compromised its network and stolen records of calls and text messages from nearly all of its more than 100 million wireless customers.
The unmasking of Chinese hacking group APT40
The group that hit the headlines this week is just one part of a vast hacking machine.
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.
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WEEKEND READS
Rich countries are paying women to procreate. It isn’t working
Despite subsidising each new child by $2 million, France has the lowest birth rate in modern history. Other countries have similar problems.
This place decriminalised drugs. It didn’t go well
The policy was introduced in British Columbia as a way of alleviating the opioid crisis. Instead, it has been blamed for deepening it.
Why people are still solving Rubik’s Cube, 50 years on
On the 50th anniversary of the bestselling toy’s invention, there is still a passionate fan base for Erno Rubik’s magical and mathematical cube.
This biker-gang film centres on an unusual ménage à trois
The Bikeriders is based on Danny Lyon’s book of the same name, originally published in 1968.
The research that favours swapping meat for cheese
If there’s one thing that can turn carnivores into plant-lovers, it’s those tasty products made from milk.
smart investor
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.
- 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.
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.
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.
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Companies
‘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”.
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.
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.
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.
- Exclusive
- Mergers & acquisitions
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.
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.
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
ASX hits record high as Fed gets ‘all clear’ to cut rates
Shares and bonds have rallied, but economists are warning investors against reading too much into what the data could mean for Australia’s own central bank.
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.
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
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
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
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.
Editorial
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.
Senior editor and writer
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.
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
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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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 the country uncompetitive against global rivals and workers poorer.
Albanese makes three-day assault on Queensland battleground
The prime minister has thrown down the gauntlet in Queensland during a pseudo-election-campaign tour.
Chaney’s live export reversal ‘not motivated by reelection’
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.
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.
‘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.
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World
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.
Kardashian, Blair, Tyson: Global elite flock to Ambani mega-wedding
A pantheon of global celebrities, politicians and CEOs are descending on India’s financial capital for the wedding of the son of Asia’s richest man, Mukesh Ambani.
Putin is meeting a lot of world leaders for a ‘global outcast’
In the two months since he began his fifth presidential term in May, Vladimir Putin has held more than 20 meetings with leaders. He has also made six foreign visits.
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.
Russia behind plot to kill Europe’s top defence CEO: NATO officials
The German company produces artillery shells and tanks that Ukraine has used in its war against Russia.
Property
- Exclusive
- Luxury property
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.
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.
Wealth
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.
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.
Technology
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.
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.
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
- 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 Olympians, including Wesfarmers CEO Rob Scott and Generation Life CEO Grant Hackett, about the most valuable business lessons they learnt from sport.
Life & Luxury
Why Millennials will pay $1000 for your old shirts
Forty years after the launch of Mambo, young Australians are again obsessed with the brand.
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.
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.
- Driving With Tony Davis
- Motoring
The upgraded Tesla that’s cheaper than its predecessor
The new Model 3 Performance delivers a power boost and driving modes that range from Chill to Insane.
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.
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
