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- Investigation
- Building Bad
Allan, Albanese told of union thuggery in 2022
Detailed evidence was sent more than 18 months ago that CFMEU officials were threatening violence and banning non-union preferred firms from taxpayer-funded projects.
ASX to slip, Wall St extends its rally on ‘Trump trade’
Australian shares are set to edge lower. All three US benchmarks advanced to start the week. Goldman’s profit doubles. Bitcoin lifts, boosting Tesla.
- Opinion
- Chanticleer
Labor’s ‘shocked and appalled’ act on CFMEU scandal is a joke
As the billions pouring into Victoria’s Big Build rose, so too should have the accountability. Premier Jacinta Allan must explain how the CFMEU gained sway over this honey pot.
Judge dismisses classified documents case against Trump
A Florida judge, appointed to the bench by the former president, ruled the federal case against him ror mishandling classified documents was unconstitutional.
- Exclusive
- Funding
PE pours $105m into Aussie software firm’s American dream
Melbourne software company HammerTech has landed a $105 million investment from Californian private equity shop Riverwood Capital.
Office funds post their worst performance since GFC
ISPT 50 Lonsdale Street Property Trust and the Mirvac Wholesale Office Fund were the worst performers, posting declines in total return of more than 20 per cent.
ASX tops 8000 as rates rally sweeps global markets
Shares hit never-before-seen heights on Monday, but strategists are warning that the issues facing the Australian economy are far from over.
- Gadgets With John Davidson
- Digital Life
Dreaming of a selfie at the Eiffel Tower? This is the phone for you
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
BUILDING BAD
- Analysis
- Building Bad
Years of wilful incuriosity have enabled the CFMEU
The latest expressions of shock and platitudes about “zero tolerance” by senior figures in the labour movement come across as utterly disingenuous.
Labor warned against union-friendly donations laws
Amid intense scrutiny of the CFMEU, key crossbenchers have hit out at a possible stitch-up between the major parties on new political donation rules.
- Opinion
- The AFR View
Surely everyone knew the CFMEU’s dirty secrets?
Given the money flows between the union, criminals, building companies and the Labor Party, cleaning out this poison must surely require action by federal or state corruption bodies.
- Updated
- Building Bad
Victorian premier accused of ‘smokescreen’ as response falls short
Jacinta Allan has been accused of “turning a blind eye” to the alleged criminality on worksites, as top union leaders back the union’s ability to investigate itself.
- 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.
tuesday tech
- Exclusive
- Funding
Woolies, Harris Farm, Tesla chair, pile in to back biosecurity start-up
ExoFlare has plans to build a global biosecurity tech firm, modelled on international cybersecurity players, and has big-name backers watching as it helps tackle bird flu.
- 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.
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
- Funding
Sydney VC raises $20m in four days for ‘evergreen’ fifth fund
Early-stage software investor EVP’s fifth fund is targeting an underserved segment of the Australian capital market, and pulled in $20 million since last Thursday.
- Opinion
- Venture capital
‘Declined to comment’: three words destroying millions in VC brand equity
There has been plenty of hand-wringing over the “negative coverage” the tech industry has copped in the past couple of years, but operators should speak up.
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Companies
Westpac wins $15m fruit stand fraud case
Fresh Xpress created “entirely fictitious” accounts, which included fake invoices and overstated profits, a court has found.
Aussie Broadband discount offshoot Buddy chases lost customers
Aussie Broadband is hoping to win back some of the customers lost to rival Superloop with a new, cheap internet brand, Buddy Telco.
- Exclusive
- Mergers & acquisitions
Farquhar’s Skip Capital will back J-Power’s takeover of Genex
The Atlassian billionaire’s fund owns 19.9 per cent of the ASX-listed renewable energy group. Its support removes a major roadblock for the Japanese utility.
Labor’s green hydrogen rules for $6.7b subsidy splits producers
Criteria being proposed for renewable hydrogen could mean emissions rise instead of fall as projects “cannibalise” the grid, green advocates warn.
Liontown stops holding out on sending lithium to China
Liontown Resources will do deals with China after all, admitting it is impossible to ignore the world’s biggest buyer of lithium.
Adamantem Capital brings in investment bankers for Hellers sale
The private equity firm is sitting on a handful of ageing assets from its first fund that have been earmarked for a sales process.
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.
Companies in the News
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Markets
The ’10-bagger’ stocks that helped push the ASX above 8000
Two blockbuster biotech winners and beneficiaries of investment in the energy transition helped create wealth for savvy investors as shares topped 8000 points.
Bankers target M&A financing as ASX hits record
Investment banks are hopeful a buoyant sharemarket will encourage ASX-listed companies to tap equity capital markets for growth.
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.
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.
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
Surely everyone knew the CFMEU’s dirty secrets?
Given the money flows between the union, criminals, building companies and the Labor Party, cleaning out this poison must surely require action by federal or state corruption bodies.
Editorial
Fair Work Act isn’t much help dealing with the CFMEU
Stronger rules and safeguards are needed, along with an audit of the EBAs the union has signed, if proper governance is finally to be installed at the CFMEU.
Markets owe it to themselves to fill in the black holes
Questions are being asked over bond market trading because market players no longer feel the incentive to police their own reputations among their own number.
Contributor
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.
Columnist
Trump’s survival will turbocharge the Republican convention
The former president’s narrow escape from death is giving new life to his campaign, and Joe Biden’s address calling for unity won’t fix the extreme division in America.
Columnist
American democracy dodged a bullet too
The failed attempt to take out Donald Trump might put him back in the Oval Office.
Editorial
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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AFP must have adequate resources to protect MPs: Coalition
Amid increased attacks and acts of vandalism on local MPs’ offices, opposition home affairs spokesman James Paterson said AFP resourcing was an area of concern.
- Exclusive
- Australian economy
Rod Carnegie’s seminal lunch with Paul Keating
Paul Keating reveals, for the first time, the pivotal conversation about the Australian economy with Rod Carnegie at lunch in Melbourne almost 50 years ago.
The democratic project is backsliding, warns O’Neil
Many countries are becoming less democratic as new strains of nationalism emerge around the world, the Home Affairs Minister said.
CSL wins global avian flu vaccine contracts
Australian pharmaceutical giant CSL is to supply up to 45 million shots of its avian flu vaccine to Europe and the US as health authorities prepare for possible human infection from the dangerous H5 strain.
SA’s new mega university starts recruiting overseas students
The new Adelaide University is due to launch with 70,000 students in early 2026, even as migration reforms bite hard on the education sector.
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World
France’s left-wing parties struggle to unite, Socialists’ leader says
The New Popular Front, an alliance ranging from socialists and Greens to the communist party, won the parliamentary election but fell well short of a majority.
China’s GDP miss set to boost stimulus calls from Third Plenum
China-watchers and investors are doubtful the Third Plenum policy gathering in Beijing will throw up any comprehensive reform.
When does Trump become the official Republican nominee?
Nearly 2500 delegates are gathering in Milwaukee for a roll-call vote to select the Republican presidential nominee, formally ending the presidential primary.
Hamas continues ceasefire talks after Israeli strikes on military chief
Hamas has insisted that a deal would ultimately end the war, but has softened its position on some of its conditions.
Why Biden may be unable to admit he could have a problem
Sometimes when people have a cognitive deficit, they may not have enough insight into their condition to acknowledge it.
Property
‘We can’t even dictate contractors’: NSW builders eye EBA changes
Contractors in Australia’s largest state say they have lost influence to the main construction union.
Office funds post their worst performance since GFC
ISPT 50 Lonsdale Street Property Trust and the Mirvac Wholesale Office Fund were the worst performers, posting declines in total return of more than 20 per cent.
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.
‘Off the market’: The $175m pub sale that never happened
The Thomas family will retain ownership of The Oaks Hotel in Neutral Bay after a local family was unable to stump up the money to settle the circa $175 million deal.
Build-to-rent starts tumble as high costs take a toll
But by the end of the decade, build-to-rent housing could hit its next growth spurt, accounting for nearly 20 per cent of apartment starts.
Wealth
Six winning strategies in a tough property market
Caution over the direction of rates is prompting buyers to delay, making it a tougher sell for vendors.
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.
Technology
How Apple helped Samsung improve its sound
Samsung has copped a lot of flak for making many of the same design decisions as its rival for its new earbuds. But, as users, we’re better off for it.
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.
Work & Careers
SA’s new mega university starts recruiting overseas students
The new Adelaide University is due to launch with 70,000 students in early 2026, even as migration reforms bite hard on the education sector.
More workers feel stuck in their jobs. Bosses are responding
Executive coaches and HR professionals say managers are seeking guidance on how to re-energise workers who are staying put because they have no better option.
Life & Luxury
Paris haute couture week is fashion’s answer to the Olympics
For enthralling displays of human skill, witness the designs of Daniel Roseberry for Schiaparelli and Thom Browne at the autumn/winter 2024 shows.
Scientists identify the best type of exercise for mental sharpness
Queensland Brain Institute researchers studied sprinters, speed walkers and more leisurely exercisers. Here’s what they found.
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.
From the gallery
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Life & Leisure
Dreaming of a selfie at the Eiffel Tower? This is the phone for you
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