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- Opinion
- Chanticleer
World’s biggest IPO has Australian flavour and implications
It might lack burritos, but we’re watching Lineage, a food storage play with Australian assets trying to secure a $30 billion listing.
- Updated
- Energy
Labor’s hydrogen dream stalls as Fortescue slims down H2 vision
Fortescue will cut 700 jobs and slow its push into green hydrogen in a blow to the Albanese government’s plan to make Australia a hydrogen superpower supported by more than $8 billion of taxpayer funded incentives.
Waller says Fed getting ‘closer’ to cutting rates
Federal Reserve governor Christopher Waller has added to a growing chorus of officials who have signalled that they are moving closer toward a rate cut.
ART closes in on AustralianSuper’s top spot with new merger
The deal will add Qantas’ $9 billion in funds under management to the Australian Retirement Trust’s ballooning $280 billion-plus asset pool.
- Analysis
- US election
Biden circle shrinks as Democrats fear election wipeout
The attempted assassination of Donald Trump at the weekend has muted some of the public pressure on the US president to exit the race. But the party remains deeply divided.
- Opinion
- Building Bad
Only a full judicial inquiry can lift the lid on the CFMEU
The scandals at the construction union leave a host of unanswered questions that will shape the future of industrial relations in Australia.
- Opinion
- Chanticleer
Reality bites for Forrest’s hydrogen dream. Investors won’t mind
The biggest shake-up of Fortescue’s structure and strategy in years will be music to the market’s ear, but is more evidence the energy transition is spluttering.
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BUILDING BAD
- Opinion
- Building Bad
Only a full judicial inquiry can lift the lid on the CFMEU
The scandals at the construction union leave a host of unanswered questions that will shape the future of industrial relations in Australia.
- Investigation
- Building Bad
CFMEU boss caught on covert camera allegedly taking a cash bribe
A police lens hidden in the roof of the union’s Sydney office is said to have captured Darren Greenfield being passed money in a suspected kickback deal.
NSW premier backs independent administration of CFMEU
Chris Minns will suspend the union and ban any donations from it after a hidden police camera captured a union leader being passed $5000 in a suspected kickback deal.
- Exclusive
- Building Bad
Albanese to push aside CFMEU bosses
The Albanese government will seek to appoint an external administrator to clean up the CFMEU, sidelining its national and state leaders. The MUA is also considering whether to split from the CFMEU.
How vicious feuds 50 years ago sowed the seeds of the CFMEU
The evolution of today’s militant construction union can be traced back to the unlikely locale of the leafy Sydney suburb of Hunters Hill.
US ELECTION
Nearly two-thirds of Democrats want Biden to withdraw, new poll finds
The survey also found that only about three in 10 Democrats are extremely or very confident that Joe Biden has the mental capability to serve effectively.
Trump tells Taiwan to expect a higher price tag for US defence
“I think Taiwan should pay us for defence,” Trump said in an interview. “You know, we’re no different than an insurance company.”
Former rivals back Trump in show of Republican unity
The second day of the Republican convention showed the kind of discipline and co-ordinated messaging not normally associated with the former president’s political operation.
- Analysis
- US election
Biden circle shrinks as Democrats fear election wipeout
The attempted assassination of Donald Trump at the weekend has muted some of the public pressure on the US president to exit the race. But the party remains deeply divided.
Biden looks for early Democratic nomination to silence critics
Democrats’ dismay with the president after his disastrous debate performance is still simmering and could rear its head again.
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Companies
- Updated
- Big four
ANZ board ‘acutely focused’ on trading scandal
In a note to staff, the bank’s executives said directors and senior management met on Tuesday to review probes into workplace conduct and market manipulation.
Resurgent Zip pays big break fee to eliminate its debt
Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.
Nuclear awakening ‘a decade or two late’, says AER
Clare Savage said it would take 25 years to put the political and regulatory frameworks in place for nuclear power – much longer than the Coalition says.
Fortescue’s pivot shakes faith in Labor’s Hydrogen Headstart strategy
Power prices would need to drop steeply and electrolyser costs more than halve to produce hydrogen at anywhere near a competitive level, the industry has warned.
Pernod Ricard exits Australian wine making, sells to Bain consortium
The French giant’s portfolio of local brands – as well as those in New Zealand and Spain – will be combined with Accolade Wines, the company behind Hardys.
Bankers seeking their next big pay day are chasing these clients
Investment banks are now after riskier, smaller companies so they can pounce on the spoils of a trophy listing or a huge sale to private equity.
Top 10 super funds revealed for FY24
A small mining industry fund delivered the highest returns for the second year in a row, with two retail super giants joining it in first place.
Companies in the News
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Markets
Why Ark’s Cathie Wood is betting big on Tesla
The fund manager is banking on Elon Musk’s move into robotaxi’s will be a catalyst for a roughly 10-fold increase in Tesla’s share price
Waller says Fed getting ‘closer’ to cutting rates
Federal Reserve governor Christopher Waller has added to a growing chorus of officials who have signalled that they are moving closer toward a rate cut.
Investors size up ASX small caps as Wall Street pops
With the US central bank looking like it will begin cutting rates, smaller stocks there have been on a tear. The same could happen in local equities.
- Opinion
- Chanticleer
Stocks just keep rising, but bonds are flashing a big warning
Wall Street’s rally is grinding on, and now seems to be broadening out. However, beneath the surface, there are signs of fragility that shouldn’t be ignored.
Interest rates might need to stay high to tame inflation: IMF
The IMF’s warning comes as economists await June quarter CPI numbers, which will be decisive in determining whether the RBA raises interest rates in August.
Opinion
Only a full judicial inquiry can lift the lid on the CFMEU
The scandals at the construction union leave a host of unanswered questions that will shape the future of industrial relations in Australia.
Industrial relations lawyer
‘We have a country to save’: Republicans rally to a reborn Trump
The Republican National Convention is showcasing a party dominated by Donald Trump and his views, while the disarray in the Democrats just keeps coming.
Columnist
Private equity has become hazardous terrain for investors
The days of easy windfalls from freakishly loose monetary policy are gone. Now, private capital is much more hazardous terrain for investors.
Contributor
Why does France’s far right get stronger with each election?
The Western nation has not responded well to the challenges of globalisation, which is a problem that also applies to the whole of Europe.
Economist
Australia’s blue blood miner, management moderniser and business nationalist
During his heyday in the 1970s and ’80s, Sir Roderick Carnegie was a believer in the power of big corporations competing in open markets to drive human progress.
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
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
‘Alltoohardism’ supplants climate denial as obstacle to renewables
Chris Bowen remains upbeat about achieving 82 per cent renewable energy generation by the end of the decade.
Trump could be ‘a loser’ if he abandons Ukraine, says Abbott
The former prime minister reckons that Vladimir Putin owes the families of MH17 victims an apology and compensation for the “atrocity”.
Air force officials rebuff concerns over slow pace of missile defence
Military experts have warned Australia is not moving quickly enough to be able to defend itself against missile strikes amid lessons from Ukraine and Israel.
Chief justice intervenes in tax plan for judges
Federal Court Chief Justice Debbie Mortimer has also banned judges using their travel allowance for conferences.
Contribution caps to be raised or removed under aged care reforms
The lifetime contribution cap for residential care would increase from $76,096 to $190,000, and abolished for home care.
SPONSORED
World
New Zealand inflation slows to three-year low
Three of the country’s main banks brought forward forecasts for RBNZ rate cuts after the inflation report.
- Opinion
- US election
The deep source of Trump’s appeal to Americans
The problem with adopting all-explaining identity politics is that it undermines democracy. If others are evil and out to get us, then persuasion is for suckers.
- Analysis
- Russia-Ukraine war
Russia’s vast stocks of Soviet-era weapons are running out
The much-vaunted offensive against Kharkiv in the north that began in May is fizzling out. Advances elsewhere have been strategically trivial and at huge cost.
Former rivals back Trump in show of Republican unity
The second day of the Republican convention showed the kind of discipline and co-ordinated messaging not normally associated with the former president’s political operation.
Fewer aristocrats: Starmer lays out left-wing vision
The supposedly cautious UK PM is proposing taxpayer funds for green energy, nationalising the railways and rolling out new workers’ rights.
Property
Barrenjoey partner swaps Bondi federation mansion for Double Bay villa
After selling their Bondi home to designer Camilla Franks, Barrenjoey Capital founding partner Ben Scott and wife Pensiri have bought in Double Bay.
Remote work crushes next wave of office towers: experts
The next wave of CBD skyscrapers may not emerge for another decade as Sydney and Melbourne office markets recover from the rise of remote work and record high vacancy rates.
The suburbs turning into buyers’ markets as listings pile up
The sharp increase in inventory levels is creating favourable conditions for buyers, experts say.
Apartment starts fall to 11-year low
Industry groups say the extra costs of construction union agreements compound rising materials and financing costs to make housing projects unprofitable.
Melbourne a launching pad for Hong Kong hotel brand
Lanson Place will open its first Australian property in September after spending $80m repurposing the former Salvation Army Printing Works in East Melbourne
Wealth
- Opinion
- Superannuation
Spending a few hours on this now will make you richer later
Work through these 11 steps to grow your superannuation faster.
ART closes in on AustralianSuper’s top spot with new merger
The deal will add Qantas’ $9 billion in funds under management to the Australian Retirement Trust’s ballooning $280 billion-plus asset pool.
Popularity of sustainable ETFs dives to lowest in a decade
Platinum Asset Management will terminate its Global Transition Fund due to low demand.
Technology
‘Not good enough’: Blackbird admits its gender pledge has stalled
Australia’s largest VC fund pledged to track data to support its rhetoric around investing in more women founders. Its first report shows it has gone backwards.
- 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.
Work & Careers
- Opinion
- Illness
Do you get sick on holidays? You’re probably a workaholic
Those of us who fall ill as soon as we stop work may need to rethink our approach to life.
‘It’s insane’: The secret world of tutors to the super-rich
For the children of the ultra-rich, education involves family tutors who fly with them around the world, with the best tutors earning $500,000 salaries.
Life & Luxury
The luxury watches people are buying even as the cost of living bites
At a time of tightened spending, high-end labels are showing what it takes to bring attention back to the wrist.
- Opinion
- Style
Has the ‘memeification’ of fashion gone too far?
Luxury brands are capitalising on pop culture moments, but it could turn fashion into a joke.
No great leap to self-driving cars, just small steps
The head of Mercedes-Benz’s automation program admits self-driving is lagging, but says the tech is already bringing big gains in safety.
How to pack and stay sane when you travel 200 days a year for work
Photographer Cindy Miller Hopkins travels from polar regions to steamy island jungles. She shares some of her packing tips – including taking two of everything.
This could be the funniest business book you’ll read all year
Former Australian trade negotiator Dmitry Grozoubinski has written a tome about international trade policy. And for that, he’s very, very sorry.
