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- Investigation
- Building Bad
‘I just need this to stop’: Dead after first day on CFMEU site
A day before his 19th birthday, Ben Nash had no idea the t-shirt he was wearing would lead him to be bullied, humiliated and locked in a shed.
- Live
- Need to Know
Victorian Premier requests CFMEU construction division suspension
Victorian Premier Jacinta Allan says union behaviour is “thuggish” and “unacceptable” amid CFMEU scandal; Former ambassador says Trump attempted assassination should teach politicians a lesson. Follow for updates.
Russian spy plot arrests spur hostage fears
One Russian expert says Australians in Russia could be detained as part of the Kremlin’s “hostage diplomacy”.
A father’s last act: shielding his family from gunfire
Corey Comperatore - a family man who loved to fish - threw himself over his relatives as shots rang out at Donald Trump’s rally in Pennsylvania.
- Opinion
- Chanticleer
Why the ‘Trump trade’ just got trickier for investors
More certainty for markets of a Trump victory now might mean more uncertainty later if he sweeps November’s elections.
- Live
- Markets Live
ASX crosses 8000 as tech stocks rally
Shares rise amid broad rally; iron ore advances; China growth weakens more than expected as outlook darkens; haven rush on investor minds after the assassination attempt on former US president. Follow here for more.
Banks caught repeating royal commissioner-era fee charging
ANZ, the Commonwealth Bank, Westpac and Bendigo and Adelaide Bank have agreed to move 200,000 customers into lower-fee accounts.
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BUILDING BAD
Deregistering CFMEU won’t help clean out criminals: McManus
ACTU secretary Sally McManus says deregistering the CFMEU would be counterproductive, as the union’s national executive ordered the Victorian branch into administration.
- 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.
- 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
- Building Bad
‘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.
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.
ASSASSINATION ATTEMPT
- Opinion
- US election
America is staring into the abyss
A bullet almost killed the man who is vowing retribution if he is returned to the White House. A spirit of vengeance is haunting America, writes Ed Luce.
- Analysis
- US politics
An assassination attempt likely to tear America further apart
Within minutes of the shooting, the air was filled with anger, bitterness, suspicion and recrimination. Fingers were pointed and a country bristling with animosity fractured even more, writes Peter Baker.
Thomas Matthew Crooks: registered Republican, gun lover who shot Trump
The gunman, who reportedly worked in a nursing home, did not have a criminal history reflected in Pennsylvania’s public court records, and officials said they had not identified a motive.
- Updated
- US election
Biden, Trump call for unity after assassination attempt
“In America, we resolve our differences at the ballot box. That’s how we do it at the ballot box, not with bullets,” the president said in a national address.
Suspect came within inches of killing Trump, but no one knows why
Thomas Matthew Crooks, who was shot dead by law enforcement, was a young, bright man working an entry-level job near his hometown in Pennsylvania.
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Companies
- Analysis
- Retail
Can Bob East finally find a woman to sit on Cettire’s board?
The addition of investment banker Jon Gidney last week – the first to be added to the board since it listed on the ASX – only highlights the company’s needs.
Banks caught repeating royal commissioner-era fee charging
ANZ, the Commonwealth Bank, Westpac and Bendigo and Adelaide Bank have agreed to move 200,000 customers into lower-fee accounts.
- Exclusive
- Business IT
The ASX faces a ‘ticking time bomb’ as technology upgrades delayed
The market operator is attempting to simultaneously upgrade several major systems, one of which is at an early stage and already seven months behind schedule.
- 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, writes Jonathan Shapiro.
- Opinion
- Debt collection
This must be one of the worst ways of making a return
There’s a dollar to be made lending to people with “impaired credit” while running a debt collection firm. Just ask Brookfield, which is all over this business.
Transurban contracts have ‘concerning’ lack of transparency: inquiry
The findings of a NSW parliamentary probe called after the opening of the Rozelle Interchange comes ahead of a government review into Sydney’s toll road system.
Liontown lithium supply test of faith for Tesla after BHP nickel halt
Nickel and lithium have had a rocky ride over the past 18 months. But the outlook cannot be wider for the biggest local players in each commodity.
Companies in the News
Search companies
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Markets
Three little-known stocks driving this veteran’s mega returns
Pengana’s James McDonald discusses his blockbuster year and the ASX-listed stocks he is backing into the new financial year.
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.
How markets were looking before the ASX opening bell
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.
- 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.
Opinion
American democracy dodged a bullet too
The failed attempt to take out Donald Trump might put him back in the Oval Office.
Editorial
Reserve Bank’s path to a soft landing is very narrow indeed
Further rate rises would make it harder for the RBA to achieve the trifecta of a small rise in spare labour, with employment still increasing and inflation back at target.
Economist
How ASIC’s new insider-trader busting system works
The securities industry regulator is getting better at catching insider traders. But the cohort of offenders is so dumb it may not make a difference.
Contributor
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.
New York Times
This must be one of the worst ways of making a return
There’s a dollar to be made lending to people with “impaired credit” while running a debt collection firm. Just ask Brookfield, which is all over this business.
Deputy editor - Business
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
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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King, Queen to visit Australia
The royal couple will make the trip en route to a summit in Samoa. But the King’s fragile health means it’ll be shorter than the epic visits of years gone by.
Banks caught repeating royal commissioner-era fee charging
ANZ, the Commonwealth Bank, Westpac and Bendigo and Adelaide Bank have agreed to move 200,000 customers into lower-fee accounts.
- Exclusive
- Gaming & wagering
Offshore lotteries, online keno next in government crackdown
Communications Minister Michelle Rowland is assessing whether more regulation is required.
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.
SPONSORED
World
Beijing policy summit ‘more Chinese medicine than shock therapy’
China-watchers and investors are doubtful the Third Plenum policy gathering in Beijing will throw up any comprehensive reform.
Britain’s ultra-rich ‘non-doms’ prepare to flee Labour tax rise
Living in the UK but not legally domiciled, they pay more than £8 billion in taxes a year, and now Keir Starmer’s new government plans to increase their levies.
Biden orders Secret Service review after assassination attempt
The president said while he was “grateful to the Secret Service agents and other law enforcement agencies”, his review could expose major gaps in the agency’s performance.
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.
Property
First home buy costs $1.28 million - and 858km
Affordability is pushing rookie property purchasers to look more widely than before. But they’re often also older, and have more money to spend.
Why this segment of the housing market is struggling
Despite the overall increase in Sydney’s home values, pockets of weakness are emerging in higher-end markets and starting to spread.
- 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.
- 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.
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.
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
How Microsoft’s Nadella became tech’s steely eyed AI gambler
Risky bets on AI have become a habit for Satya Nadella, a 56-year-old engineer who came up through the ranks of Microsoft to become its CEO about a decade ago.
- Exclusive
- Business IT
ASX cuts back on overpaid tech contractors who were ‘taking the p---’
The company’s tech boss is reducing reliance on contractors and consultants after insiders blew the whistle on temporary staff.
- Opinion
- Governance
Regulator needed as ASX techies tinker with critical infrastructure
The ASX has a glut of big tech upgrades to deliver, on top of its CHESS debacle ‘do-over’. If it stuffs them up, then everyone in the market suffers.
Work & Careers
Rod Carnegie: corporate giant felled at the final hurdle
Sir Rod Carnegie soared across the corporate sky in the ’70s and ’80s but was thwarted in his attempt to secure full Australian local control of mining giant CRA.
What businesses are doing right for this group of workers
Not only did it mean Shelley could work in a step-free environment catered to her needs, but it also meant she didn’t have to ask for special treatment.
Life & Luxury
Alcaraz destroys Djokovic’s dream in men’s final
Carlos Alcaraz has cancelled Novak Djokovic’s goal of a record-breaking 25th grand slam tennis triumph, outclassing the seven-time champion to defend his crown.
- Updated
- European Championships
Spain beat England for record fourth European title
Mikel Oyarzabal’s 87th-minute goal clinched a 2-1 victory over England, whose painful decades-long wait for a major trophy goes on.
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.
From the gallery
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