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- Investigation
- Building Bad
‘Everybody eats’: secret recording exposes CFMEU kickback plan
Harry Korras was clear that to get a CFMEU EBA “there’s a fee. That’s business.” Meanwhile, police evidence mounts against John Setka’s anointed successor.
Caught on film: How John Setka and the CFMEU wield their power
Analysis | Setka resignation blow to culture of fear
Business demands royal commission into ‘abhorrent’ CFMEU conduct
‘Good’: PM welcomes Setka resignation after AFR investigation
Bikies, underworld figures and the CFMEU takeover of construction
- Opinion
- US election
Assassination attempt just killed what was left of Biden’s campaign
The apparent attempt on Donald Trump’s life won’t stop the controversial president’s ferocious campaign style, but it will temper Biden’s incendiary criticism of him, writes Matthew Cranston.
ASX to hit 8000 as markets bank on Federal Reserve to cut rates
It’s taken the local bourse just over three years to climb another 1000 points after breaching the 7000 level in April 2021, fuelled by pandemic-era stimulus.
Authorities race to identify the suspect’s motive
The attack, by a shooter who was killed by the Secret Service, was the first attempt to assassinate a president or presidential candidate since 1981; world leaders condemn the assassination attempt; Follow updates here.
- Opinion
- Big four
The ANZ scandal is a bombshell in two acts
The issues engulfing the bank’s trading team are not about complicated bond trades. It’s about an alleged double act of deceit and manipulation of the taxpayer.
Business demands royal commission into ‘abhorrent’ CFMEU conduct
Workplace Relations Minister Tony Burke has thrown down the gauntlet to the construction union after explosive misconduct allegations, but business groups want him to act now.
Class action claims Aristocrat breaking gambling laws
Lightning Link, Heart of Vegas and other social casino games are a lucrative and growing business. But some users allege the company is being misleading.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
BUILDING BAD
- Investigation
- Building Bad
Caught on film: How John Setka and the CFMEU wield their power
Videos show John Setka delivering a suitcase message to a rival’s home, and other officials issuing threats and boasting of the union’s total control.
- Analysis
- Industrial relations
‘The dam is breaking’: Setka resignation blow to culture of fear
The CFMEU boss’ resignation was a shock even to his own officials, but it is a watershed moment for the culture of silence and intimidation that has ruled the construction industry, writes David Marin-Guzman.
- Investigation
- Building Bad
Bikies, underworld figures and the CFMEU takeover of construction
‘It’s a cancer that spreads...we’ll all pay for it’: This is the investigation into CFMEU power that prompted union boss John Setka to quit.
‘Good’: PM welcomes Setka resignation after AFR investigation
Anthony Albanese slammed former CFMEU boss John Setka as calls emerged for him to take tougher action against the militant union after allegations reported today.
Setka quits CFMEU effective immediately
Powerful CFMEU boss John Setka has quit the union ahead of explosive allegations regarding misconduct involving himself and the union.
ASSASSINATION ATTEMPT
- Opinion
- US election
Shock but no real surprise at events in the US
MPs here have been confiding that the erosion in social cohesion has meant it is only a matter of time before someone is attacked or killed, writes Phillip Coorey.
- Updated
- US election
Trump rally shooting could upend poll race
The attack, by a shooter who was killed by the Secret Service, was the first attempt to assassinate a president or presidential candidate since 1981.
A history of political assassination in the US
There have been several instances of political violence targeting US presidents, former presidents and major party presidential candidates.
Five shots, then screams – and suddenly Trump was on the ground clutching his head
Witnesses alerted Secret Service agents to the presence of an armed man on a roof overlooking the rally site where Donald Trump was shot at.
- Opinion
- US election
The sound of the assassin’s gun never goes way
Bobby Kennedy’s killing in 1968 was the tragic event that caused the Secret Service to provide protection for presidential candidates.
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Companies
Blundy’s Accent Group plots overseas expansion with Nude Lucy
The move would be the first time that the company, better known for its shoe brands including Platypus and The Athlete’s Foot, has operated in another market.
Mediaweek publisher flags potential sale of business with staff
Those comments came after the Financial Review revealed Trent Thomas had been found by external investigators to have bullied and harassed a member of staff.
Snowy Hydro pushes gas power ambitions with major storage deal
The 25-year contract will underpin the expansion of the Iona project, and underscores expectations the fuel will remain part of the energy mix past 2050.
ACCC’s new target | What makes an elite CEO | Earnings season predictions
This week on the Chanticleer podcast, Anthony and special guest companies editor Vesna Poljak look at the ACCC’s latest target, discuss what makes an elite CEO, and make some predictions on earnings season.
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.
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.
Fortescue says Financial Review report led to spying on former staff
The Andrew Forrest-chaired mining giant said its investigation into alleged intellectual property theft began only after an interview published in January.
Companies in the News
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Markets
Haven rush, ‘Trump trades’ on investor minds after shooting
Investors will likely rush into assets like the US dollar, gold and bitcoin after the assassination attempt of the former US president.
- Opinion
- Interest rates
Why the US Fed needs to start cutting rates now
Key inflation and employment data that central bankers use to guide monetary policy lag economic turning points by a monstrous amount, which has resulted in massively suboptimal rate decisions, writes Vimal Gore.
S&P 500 resets record high on interest 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.
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.
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.
Opinion
American democracy dodged a bullet too
The failed attempt to take out Donald Trump might put him back in the Oval Office.
Editorial
More shots heard around the world
For Donald Trump, the ‘bully pulpit’ almost became his funeral pyre. And the gulf between his strongman image and Biden’s ongoing struggles is now likely to widen.
International editor
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
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
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
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.
Sponsored
by BCGPolitics
Budget surplus to be 50pc bigger than forecast: Chalmers
The May budget forecast a $9.3 billion surplus last financial year, but Treasurer Jim Chalmers now says people should expect something in the ‘mid-teens’.
Nicotine use soaring as vapes go underground
Experts warn the federal government’s new vaping policies will tip money into the pockets of criminal enterprises and potentially even increase smoking rates.
Britain still good for delivery of AUKUS subs, Marles says
The defence minister has rushed to Britain to reassure himself that the new Labour government is up to the challenge of developing a new nuclear-powered fleet.
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.
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.
SPONSORED
World
Iran’s new president vows balance with all countries but warns US
Masoud Pezeshkian urged Arab countries to use “all diplomatic leverages” to push for a lasting ceasefire in the ongoing Israel-Hamas war in the Gaza Strip.
Meloni seeks to bring nuclear power back to Italy
Environment and Energy Security Minister Gilberto Pichetto Fratin said Rome plans to introduce legislation to enable investments in small modular nuclear reactors.
Unilever to slash a third of office jobs in Europe
The cuts are part of Unilever’s “productivity program” and will slash as many as 7500 roles globally.
Israeli strike targets Hamas military commander, kills 90 in Gaza
Prime Minister Benjamin Netanyahu has said “there still isn’t absolute certainty” that Mohammed Deif and a second Hamas commander, Rafa Salama, were killed.
Is America entering another age of political violence?
Let’s hope that the voices of American moderation, who have been cowed by extremes on both sides of the political spectrum, step back into the arena.
Property
- Exclusive
- Luxury property
High-profile pair’s luxury farmhouse hits Southern Highlands market
Eastern suburbs couple Sanchia Brahimi and Paul Smith have listed their Berrima weekender, while the Golman family are selling a trophy estate in Bowral.
Downsizers pay $130,000 above reserve for villa as auctions slow
SQM research director Louis Christopher said the low auction volumes indicated housing prices could to dip up to 4 per cent during the second half of this year.
- Exclusive
- Property survey
High costs choke supply of new homes: property experts
The cost of construction in capital cities has risen at a faster clip than house price growth, making it less economical to build new dwellings.
Did King Charles really buy a $9m New York condo?
It wouldn’t be the first time that a suggestive name on a deed led to unfounded reports that a royal had bought a piece of Manhattan real estate.
- Exclusive
- Luxury property
Stock picker tipped to be buyer of $24m Darling Point unit
As the trophy market enters the winter doldrums, Potentia Capital’s Andy Gray and his wife Emma have quietly sold their Darling Point mega apartment.
Wealth
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 surprising asset class the rich are using to build wealth
An increasing number of seasoned and wealthy investors are increasing their exposure to ETFs, an asset class that has been typically associated with the young.
Can we put $2.9m from a property sale into super?
You can – but you must tick these boxes first.
Technology
- Opinion
- Social media
If you really want to relax, put that phone down
The dopamine hit of smartphones, described as the modern-day hypodermic needle, is not the same as switching off, writes Jemima Kelly.
Apple sues Omni Bridgeway, demanding documents in patent case
The ASX-listed litigation funder is resisting the subpoena in Delaware, arguing that the technology giant’s demand is unreasonable, vague and burdensome.
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.
Work & Careers
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.
- 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.
Life & Luxury
Barbora Krejcikova wins women’s final
More than 25 years since her late mentor famously triumphed after previous heartbreaks, Barbora Krejcikova has become Wimbledon singles champion.
- 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.
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.
How Grace Kelly inspired this season’s stylish sunglasses
Sunglasses are a shield from the shy, a friend to the tired and hungover, and don’t require the wearer to be a certain dress size.
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
