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

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    Unions

    ‘Integrity, credibility’: CFMEU praises Setka, rejects outside inquiry

    The union does not believe any construction deal with the government was achieved through corruption, but is terminating a contract with one company.

    Queensland Premier Steven Miles.

    Qld suspends CFMEU donations amid investigation

    Jacinta Allan claims she acted ‘immediately’ on receiving union evidence; Donald Trump appears at Republican convention with bandaged ear. Follow for updates.

    The choice of J.D Vance as vice-presidential nominee has gone down well in Silicon Valley.

    Trump’s running mate pick wins Silicon Valley hearts and cash

    A GOP contingent within tech has recently become more visible, with big players such as Elon Musk, David Sacks and Shaun Maguire from Sequoia Capital backing Trump.

    Why these 14 ASX stocks could be set to disappoint

    The ASX might be flirting with all-time highs, but there’s a growing sense investors are far too optimistic about earnings growth next financial year. Here’s why.

    ASX slips from record high as BHP, Rio Tinto dip

    Australian shares tilt lower. The Dow closes at a record high. Bitcoin bounces. Rio Tinto’s iron ore production slips. Follow updates here.

    AEMO chief warns no chance of nuclear replacing ageing coal plants

    Daniel Westerman, who runs the energy market operator, said gas generation would remain the “ultimate backstop” as fossil fuels exit the electricity grid.

    Review finds Transurban should be forced to renegotiate Sydney tolls

    The recommendations put the NSW government on a collision course with the ASX-listed motorway giant, which controls 11 of the city’s 13 toll roads.

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    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.

    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.

    Flag of authority: But the NSW building industry association says it wants builders to reconsider before signing a new enterprise agreement with the CFMEU.

    ‘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.

    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.

    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.

    tuesday tech

    HammerTech co-founders James Harris and Ben Leach, with Eric Ma from Riverwood, pictured in Melbourne.

    Construction start-up lands mega $105m deal

    Melbourne software company HammerTech has landed a $105 million investment from Californian private equity shop Riverwood Capital.

    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.

    ASX CIO Tim Whiteley is attempting to deliver a raft of tech upgrades.

    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.

    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.

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

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    Companies

    Rio Tinto’s plan to develop Simandou has taken a step forward.

    Rio Tinto’s $34.3b African iron ore project gets green light

    Soft iron ore exports from Western Australia were overshadowed by final approvals for the Simandou iron ore project in Africa.

    IGO flags impairment in second wave of nickel pain sweeping WA

    There is no end in sight to the company’s nickel nightmare as it warns of a $275 million writedown on exploration assets.

    Fresh Xpress passed the fraudulently obtained money onto farming interests also owned by the Musumeci family.

    Westpac wins $15m fruit stand fraud case

    Fresh Xpress created “entirely fictitious” accounts, which included fake invoices and overstated profits, a court has found.

    Phillip Britt is the chief executive of Aussie Broadband. He wants to capture more of the broadband market with cheaper products.

    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.

    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.

    Companies in the News

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    View stories and data from an ASX listed company

    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.

    Wall Street.

    What happened overnight? Wall St extended its rally on ‘Trump trade’

    Australian shares were set to edge lower. All three US benchmarks advanced to start the week. Goldman’s profit doubled. Bitcoin lifted, boosting Tesla.

    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.

    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.

    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.

    The AFR View

    Editorial

    The AFR View

    Why Trump and other trends all point to higher inflation

    Societal forces from politics to geopolitics to de-globalisation to ageing and climate change are creating conditions that push towards higher inflation.

    Raghuram Rajan

    Economics professor

    Raghuram Rajan

    By picking J.D. Vance as VP, Trump has picked himself

    There’s no broadening of the ticket. It’s a declaration that a 2024 victory means the Republican Party will remain fervently nationalist and populist for years.

    Jim Geraghty

    National Review

    Jim Geraghty

    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.

    Les Hosking

    Contributor

    Les Hosking

    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.

    Edward Luce

    Columnist

    Edward Luce

    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

    Clare O’Neil said some of the activity on social media stems from opposition to COVID lockdowns.

    COVID-19 lockdown anger a turning point in political discourse

    Dangerous and undemocratic social media activity started during Victoria’s pandemic lockdowns is persisting, the Home Affairs Minister has warned.

    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. 

    On the day of Sir Robert Menzies’ funeral in Melbourne on May 19, 1978, the chief executive of CRA, Rod Carnegie, hosted Paul Keating for lunch.

    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.

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    World

    Republican vice presidential candidate JD Vance and his wife Usha Chilukuri Vance arrive on the floor during the first day of the 2024 Republican National Convention.

    Trump’s running mate once called him an ‘idiot’ and ‘unfit for office’

    J.D. Vance, once a strong critic of Donald Trump, and widely known as the best-selling author of ‘Hillbilly Elegy’, will be Donald Trump’s vice president.

    What to know about J.D. Vance, Hillbilly Elegy author and Trump’s VP

    J.D. Vance worked for conservative venture capitalist Peter Thiel before founding his own venture capital firm.

    Judge Aileen Cannon was appointed by Trump during his presidency.

    Judge dismisses classified documents case against Trump

    A Florida judge, appointed to the bench by the former president, ruled the federal case against him for mishandling classified documents was unconstitutional.

    The 2024 presidential election is not over yet

    Millions of “never Trump” voters are unlikely to become “Yes Trumpers”, however appalled they are by the vile attempted murder, writes Gideon Rachman.

    J.D. Vance is red meat for Trump’s MAGA base

    Vance has shown he is nothing if not flexible, and will remain closely attuned to Trump’s shifting whims as he searches for what’s most politically expedient.

    Property

    Perth market still relatively affordable compared to other cities

    Rapid house price increases in the past year has sparked a sharp decline in the proportion of affordable house markets across Perth, Brisbane and Adelaide.

    Sydney’s Quay Quarter Tower is one of the assets in Mirvac’s MWOF fund, which declined 14.5 per cent last year.

    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.

    The three-bedroom, single-garage townhouse at 7/72-78 Flora Street in southern Sydney’s Kirrawee sold before auction for $1,281,000.

    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.

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    Wealth

    The $1m investment that will give you warm fuzzies and a tax deduction

    These funds are the vehicle chosen by many wealthy families – this is how they work.

    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.

    ASX CIO Tim Whiteley is attempting to deliver a raft of tech upgrades.

    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

    The consulting business KPMG listed two decades ago, under the name BearingPoint, went bankrupt in 2009.

    KPMG pay growth slows in tough market

    Pay rises for this financial year were minimal, with graduate salaries increasing by an average of just 1.5 per cent.

    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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    Life & Luxury

    Mariafe Artacho del Solar in Brisbane. She grew up in Manly, Sydney, and has played professional beach volleyball since she was 13.

    This Olympian started her business seven months before Paris

    Being a professional athlete is hard enough. Somehow, beach volleyball star Mariafe Artacho del Solar has found time to start a small business.

    The Thom Browne collection exposes the intricate layers that form a couture creation.

    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.

    This foldable phone will make other people envy your selfies

    Samsung’s Galaxy Flip6 won’t just take great self-portraits, it will help you get to Instagrammable locations, too.

    Regular high-intensity exercise can boost cognition, scientists have found.

    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.

    Carlos Alcaraz smiles after receiving his trophy from the Princess of Wales.

    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.

    From the gallery