The Energy Awards recognise the people and businesses driving the future of the industry.
‘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.
- Live
- Need to Know
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.
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.
- Opinion
- Chanticleer
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.
- Live
- Markets Live
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.
- Updated
- Roads
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.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
BUILDING BAD
- 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.
- 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.
‘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.
- 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.
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
- Exclusive
- Funding
Construction start-up lands mega $105m deal
Melbourne software company HammerTech has landed a $105 million investment from Californian private equity shop Riverwood Capital.
- 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.
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Companies
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.
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.
Companies in the News
Search companies
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.
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.
Editorial
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.
Economics professor
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.
National Review
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
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
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.
- 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.
SPONSORED
World
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 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.
- Opinion
- US election
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.
- Opinion
- US election
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.
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
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.
- 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
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.
Life & Luxury
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.
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.
- Gadgets With John Davidson
- Digital Life
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.
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.
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
