The Energy Awards recognise the people and businesses driving the future of the industry.
- Live
- Markets Live
Airlines, banks in disarray amid global Microsoft outage
The widespread outages across Australia due to issues with a Microsoft system come after planes were grounded in the US over similar issues. Follow here.
Latest Posts
Global aviation grinds to a halt
Outage causes some delays for Telstra services
Major IT outage strikes airlines, banks across country
Former CrowdStrike Asia Pac boss explains outage
Last updated 3 mins ago
Businesses crippled by widespread IT outage
Workers around the world have been locked out of their computers following a widespread IT outage on Friday afternoon.
- Opinion
- US election
Trump skips reset moment, doubles down on MAGA magic
Donald Trump had the chance of a lifetime to reinvent himself following an assassination attempt. But why on earth would he do that, asks Matthew Cranston.
- Analysis
- US election
What happens if Biden drops out of the presidential race?
Vice-President Kamala Harris is the likeliest candidate to replace Joe Biden at the top of the ticket, but her nomination is not a sure thing if Biden withdraws.
ANZ’s toxic trading-floor roulette spins out of control
The bank is engulfed in one of its biggest scandals after a sudden market move swung tens of millions of dollars out of its client’s favour. The client was the government.
Energy CEOs urge industry not to quit hydrogen dream
Australian businesses need to be smarter and work harder to overcome the cost hurdles in hydrogen, which has a strong future in some industries, CEOs insist.
- Opinion
- US election
Second subprime crisis more likely if Trump wins
Investors need to start preparing for how a re-elected Donald Trump will shape inflation, interest rates, and hence asset prices, writes Christopher Joye,
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
BUILDING BAD
- Investigation
- Building Bad
Leaked texts reveal Labor women who backed Setka
Leaked text messages reveal Labor politicians and insiders sent messages of support to the CFMEU boss as he dealt with domestic violence-related offences.
Bikie delegates axed as CFMEU scrambles to fight back
Sources say the Labor government is struggling to find someone willing to take on external administration of the CFMEU, a move it is desperately trying to fend off.
Dutton puts CFMEU’s future on the election agenda
Peter Dutton has made the future of the CFMEU an election issue by pledging to deregister the union if he wins office, as well as re-establishing the construction industry watchdog.
CFMEU treats $19m in fines as ‘cost of doing business’
Judges have constantly called out the rogue union while issuing workplace penalties of about $19 million since 2016 – including the latest on Thursday.
Labor rules giving building unions more powers on projects
The construction industry in Queensland is worried about state policies that benefit the CFMEU, but which will saddle consumers with great costs.
US ELECTION
A triumphant Trump seizes control of rollercoaster race
There’s a sense that a newly energised Trump needs an equally dynamic Democrat to take him on as polling increasingly favours a Republican victory in November.
- Opinion
- The AFR View
Trump sets out his flawed vision for America
Donald Trump’s policies will bake inflation in, and isolate America while weakening it. The Democrats need to field a credible challenge quickly.
How Trump went from pariah to political saviour
The former president was in the wilderness not much more than a year ago, but now he is back. The seven battleground states will be the ultimate judge.
Money dries up for Biden as big donors despair
“The Democrats are eating their own. The Republicans are eating Democrats,” says one big donor, describing the situation as bleak.
Democrats weigh up a showdown with Joe Biden
The wave of doubt surrounding the incumbent president suggests a new, more serious phase in his bid to save his candidacy.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
Bombed out retailers stage comeback ahead of results season
There is plenty of pressure on household budgets, but retailers from Universal Store to shoe chain owner Accent Group say trading is picking up.
Mining boss calls for policy changes with more jobs in danger
The boss of WA’s peak resources lobby group says the Albanese government needs to step up to prevent more job losses.
Whitehaven Coal says inflation is ‘rife’
The coal miner says the cost of parts and services continues to rise despite higher unemployment, as a rail “glitch” soured its $6.4b move into Queensland coal.
Dominic Perrottet to join BHP in senior Washington role
The former NSW premier will join the Big Australian in Washington, heading up the miner’s external affairs in the United States.
Judge slaps $1m fine on ‘dishonest’ Dominique Grubisa
The self-styled wealth and property guru has also been banned from running companies for five years, and her DG Institute has copped a fine of $5 million.
Prudential watchdog halves $1b Westpac penalty
APRA will slash its $1 billion capital penalty levied on the bank four years after it was first implemented.
QIC coy on Thames Water stake as utility drowns in debt
The state-backed asset manager has not marked down its valuation of the embattled London investment, despite its largest shareholder writing it off entirely.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
The Aussie funds that beat bitcoin and big tech
It was often savvy bets at the smaller end of the market that shot the top-performing fund managers to the top of the leader table in the last financial year.
ASX small caps miss out on ‘Great Rotation’ as rate worries linger
The gains in US small caps have further to run, say strategists, but Aussie investors shouldn’t hold their breath for a knock-on rally closer to home.
What happened overnight? Wall Street extended its losses
Australian shares were set to drop 1.3 per cent at the open. US stocks reversed early gains, though Nvidia rebounded. Volatility leapt to a three-month-high.
SG Hiscock offloads retailers and buys these small caps instead
Small caps manager Shawn Lee explains why he’s bearish on the consumer discretionary sector and names a Kiwi-based retirement living operator as a stock he thinks is cheap.
- Opinion
- Chanticleer
Nvidia crash shows dark side of the Trump trade
Donald Trump’s comments on Taiwan added to a global sell-off in computer chipmakers. The episode has three big lessons for investors.
Opinion
Why powerless workers are now a potent political force
The rise of hillbilly J.D. Vance and an Australian mega-union that is famous for all the wrong reasons have more in common than you might think.
Columnist
What is Trumponomics 2.0, and how will Australia manage it?
Some of Donald Trump’s new economic plans may help Canberra. Most of them will leave us more alone in increasingly volatile world markets.
Economist
Democrats know that this fight is done
No matter how much Joe Biden points to falling inflation and violent crime rates and rising real wages, too many voters are looking in the other direction, writes Jennifer Hewett.
Columnist
Wall-to-wall Labor not necessarily a bonus for the PM
As the federal election nears, the question is whether Labor in power across the entire mainland has become a problem for the Albanese government in terms of brand damage.
Political editor
Democrats try to stop the slide as Biden isolates
Nothing has gone right for Joe Biden since his disastrous debate with Donald Trump last month. His COVID diagnosis may be the last straw for a distraught party.
Columnist
Picking green over blue is stalling our hydrogen superpower hopes
Labor’s tax incentive scheme maintains the habit of describing identical molecules with colours of the rainbow. It is out of step with Australia’s competitors and customers
Energy expert
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
Green hydrogen not dead despite Fortescue retreat, says Bowen
State energy ministers have unanimously reiterated their opposition to Peter Dutton’s nuclear plans.
Surge in expats coming home could thwart migration targets
Strong labour conditions are attracting Australian citizens back from overseas. It could be a political problem for Labor.
- Updated
- Employment
Rate rise chances grow as employment jumps
The market is pricing in a one-in-five risk the RBA will increase the cash rate when it meets next month, after 50,000 jobs were added to the economy in June.
Labor urged to include tax havens in profit shifting crackdown
About 50 per cent of large US companies and multinationals from China, Japan, and Germany will be covered by the rules.
Trust in government is the newest gender divide
Only 38 per cent of Australian women trust the federal government, compared with 54 per cent of men, an OECD study has found.
SPONSORED
World
We don’t know when rates will be cut again, ECB says
European Central Bank chief Christine Lagarde says the question of an interest rate cut in September is “wide open”, and dependent on data.
Economic populism clashes with Trump’s pitch to donors
Even as the former president leans into populist themes that make some Republicans wary, he has told major donors he is the only bulwark against higher taxes.
For Biden and Harris, a delicate and sometimes awkward dance
Joe Biden is said to have become more receptive to arguments for why he should step aside, and is asking questions about how Kamala Harris could win.
- Opinion
- US election
What if Trump had been assassinated?
His death would have pushed America further down a road it is already going – of hatred from both sides towards the other.
Struggling bitcoin miners seek deals with AI companies
They now hope to benefit from a surge in demand for powerful but scarce chips which are used in both crypto mining and AI processing.
Property
Home building slowdown fuels Perth’s rocketing price rises
Dwindling housing completions have helped fuel major increases in Perth’s property prices as developers warn most projects are not viable because of rising costs.
Fight over Baby Boomer housing takes toll on developer
The Melbourne-based developer and landlord faces the twin battles of a slowing market and criticism of a fee structure that other companies do not use.
- Exclusive
- Luxury property
Son of late British billionaire sells $12m Melbourne penthouse
Businessman Mark Healey has offloaded his Toorak penthouse, while packaging executive Alex Commins has downsized to South Yarra.
- Exclusive
- Luxury property
Luxury homes now ‘critical asset’ for Australia’s wealthy
The number of house sales over $5 million has rocketed since 2019, with a new report saying prestige property is key to long-term wealth creation.
Singaporean billionaire brings Hilton to Hobart
Koh Wee Meng’s Fragrance Group has ditched Accor’s Novotel brand and has instead appointed Hilton to run its new Hobart Hotel as a DoubleTree.
Wealth
New $3m super tax is ‘stealing my children’s inheritance’
Family enterprises face hard questions about whether to abandon their succession and retirement plans by selling their shops, farms and factories,
Having too much money isn’t possible, happiness researcher finds
A senior fellow at the Wharton School says the correlation between wealth and wellbeing does not plateau once incomes reach a certain point.
ATO targets property valuations in countdown to new $3m super tax
SMSFs are in the firing line for failing to update the market value of investment properties and commercial buildings such as farms and medical practices.
Technology
Green hydrogen too ‘expensive and inefficient’: Finkel
Former chief scientist Alan Finkel – who devised Australia’s first clean hydrogen strategy – now says we are “unlikely to use hydrogen for storage of electricity”.
Microsoft may have just become Canva’s most dangerous rival
The world’s biggest software company has debuted an AI-powered design app, presenting Canva with a deep-pocketed rival.
Drone food delivery set to land in Melbourne’s east
Lightweight, styrofoam drones will soon be flying over the city, delivering meals and packages to homes in Melbourne’s sprawling outer-eastern suburbs.
Work & Careers
- Exclusive
- Rich Bosses
Nation’s richest boss ‘can’t find anything to invest in’ but WiseTech
This year’s list is stacked with tech founders such as Richard White – and shows how divorces can force bosses down the ranks.
- Exclusive
- Rich Bosses
The secrets to becoming a rich boss
There are good reasons why tech companies dominate this year’s Rich Bosses list.
Life & Luxury
Scientists discover anti-ageing holy grail – that can also stop cancer
Experiments on mice show treated animals live 25 per cent longer and also gain boosts to vision, hearing and muscle function. It may even prevent hair loss.
‘I’m in Hell’ – when AI resurrection goes wrong
It is in its infancy but “death capitalism” will soon become big business.
Don’t seize the day in Europe. Seize the night
It’s another gangbusters season for continental travel, and the usual suspects are dealing with baking heat and swarms of tourists. Here’s how to avoid both.
America’s most powerful export may be anxiety
What if mental health cannot be separated from culture, and cultural forces are making young English-speakers unhappy?
Celeste Barber made fun of the beauty industry – now she’s in it
This comedian, actor, author and Instagram queen has never shied away from a challenge. Now she’s creating make-up for women who fear it.
