- Exclusive
- AFR Freshwater poll
Coalition overtakes Labor in popular vote
The Coalition has inched ahead in the popular vote for the first time since the federal election. Should Labor’s fortunes slide any further between now and polling day, the Coalition could come within striking distance of minority government.
ASX to fall as investors await magnificent seven earnings
Futures indicate the local index is set to drop 0.8 per cent or by 67 points to 7876 at the start of trade, dragged lower by a fall on Wall Street.
- Opinion
- AFR Freshwater poll
Albanese knows how messy a hung parliament will be
Peter Dutton could be within striking distance of government, underlining Labor’s fragile position and why it is nervous at the prospect of another rate rise, writes Phillip Coorey.
- Opinion
- US election
Trump isn’t America’s saviour – he’s a threat to the free world
Trump’s failure to acknowledge the globalisation of war threatens not only the Ukraine he proposes to neglect but also the Taiwan he says that he wants to help, writes Charles Moore.
- Opinion
- Trump diplomacy
Trump is again the urgent issue for allies
Critics label the Trump-Vance ticket as isolationist in foreign policy. But the pair actually wants American priorities reordered to take on China, writes James Curran.
Fox News Australia? Sky News Australia may be forced to rebrand
The News Corp-owned broadcaster has announced a “major transformation project” and a relocation – just as its Sky licence comes to and end.
- Opinion
- Chanticleer
M&A forecast? It’s about to rain private capital deals
Private capital hunters – domestic superannuation funds, offshore pension funds and asset managers such as KKR and Brookfield – have their chequebooks out and are trying to get their hands on $50 billion of Australian targets.
AFR Weekend: The big stories, best reads and expert advice. In your inbox on Saturday.
WEEKEND READS
- Investigation
- Building Bad
The footballer, the underworld and the union deal
When Faruk Orman and ex-AFL player Kayne Pettifer aligned to secure a firm with CFMEU support, it was a case study in underworld figures monetising union backing.
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.
Why Allan is so exposed by the CFMEU scandal
The Victorian premier’s deep roots in the union movement place her on the front line of fallout from the scandal enveloping the CFMEU.
- Opinion
- Trade deals
The world needs to prepare for a US-China trade war
Democrat and Republican policymakers believe Washington must impose huge restrictions on Chinese technologies, including electric cars and solar panels, writes Kenneth Rogoff.
How Donald 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.
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Companies
Transurban’s Queensland office shake-up leads to departures
The branch, which manages six toll roads, is losing more senior staff following a restructure and investigation into whistleblower complaints.
Panthera Finance administration prompted by founder stoush: PwC
The Brookfield-backed company collapsed into administration after the twin brothers who founded the debt collection business fell out with one another.
Global IT chaos triggered by software glitch eases slightly
The impact of what’s being called the most spectacular IT failure the world has ever seen is expected to take at least several days to tally.
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.
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.
Green hydrogen not dead despite Fortescue retreat, says Bowen
State energy ministers have unanimously reiterated their opposition to Peter Dutton’s nuclear plans.
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Has the CBA share price peaked?
After the Commonwealth Bank’s latest record, analysts and fund managers are wondering whether the hyper-rally in bank stocks can be sustained.
US equities drop as selling pressure persists
The S&P 500 posted its worst week since April as investors continue to shift from this year’s winners to its laggards.
- Opinion
- Chanticleer
Time to sell stars like CBA and Nvidia? History says be careful
More market watchers are getting worried the stars of this rally are starting to fade. But new research says big winners tend to keep winning.
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.
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.
Opinion
It’s sad that Biden doesn’t see what’s inescapable
If Joe Biden doesn’t walk away gracefully right now, he will likely go down as a pariah and ruin his legacy.
New York Times
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?
United States correspondent
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
Why it’s time for ETF investors to stop tracking the ASX 200
It’s unlikely that many active managers have benefited as much from CBA’s rally than passive investors, but fundamentals still count.
Contributor
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
Hard energy reality has mugged Fortescue’s hydrogen dreams
Andrew Forrest is not alone. Many corporates have suffered a similar delusion about simple, easy and cheap transition.
Corporate advisor
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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by BCGPolitics
- Updated
- Building Bad
‘Complete joke’: Former building cops back ABCC’s return
Two former building watchdogs have rubbished claims Labor governments were unaware of behaviour inside the CFMEU: “Thuggery and standover tactics have prevailed for decades.”
Construction watchdog should be reinstated, AFR readers say
The Albanese government should reinstate a federal construction watchdog and hold a royal commission into the CFMEU, according to an AFR reader poll.
‘We won’t be lectured by Dutton on CFMEU’: Albanese says
The opposition leader has vowed to deregister the union and reinstate the Coalition’s union watchdog.
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.
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.
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World
- Updated
- Middle East tensions
Israel destroys Houthi oil facility in Yemen strikes
The attack is the first by Israel on Yemen since the Israel-Hamas war began in October, and threatens to open a new front in the conflict, with the Houthis vowing to retaliate.
Why ‘no tax on tips’ has become a Trump election slogan
Eliminating federal taxes on gratuities would “significantly reduce tax liability” for 6 million workers who earn tips. Republicans have made the proposal a pitch to working-class voters
Donald Trump holds first campaign rally since assassination attempt
Just a week after the shooting, the former president and Republican nominee looked relaxed as he spoke to thousands of supporters in Michigan.
Biden vows to fight on despite rising calls to step aside
While more than one in 10 congressional Democrats have now publicly called on the president to exit, Joe Biden said he will renew his campaign next week.
Britain’s ultra-rich ‘non-doms’ prepare to flee Labour tax rise
Living in the UK but not legally domiciled, they pay more than £8 billion in taxes a year, and now Keir Starmer’s new government plans to increase their levies.
Property
Working from beach is the new WFH (just don’t tell your boss)
Work from anywhere policies – allowing staff to spend some time abroad on the clock – makes people more likely to stay at a company for longer, a survey found.
Great Barrier Reef island visited by Captain Cook set to fetch $20m
Quail Island near the Whitsundays was last purchased for $2 million in 2020. Meanwhile, a cattle station north of Alice Springs is on the market for about $40 million.
- Exclusive
- Property development
Japanese investors eye Australian residential real estate
Competition for Australian sites is heating up for Japanese companies such as Asahi Kasei Homes, Sumitomo Forestry Group and Daiwa House.
- 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.
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.
Wealth
Revealed: Which super funds rate the best – and worst – for retirement
Superannuation funds are going backwards in terms of preparing their customers for retirement, new research shows.
- Opinion
- Superannuation
Spending a few hours on this now will make you richer later
Work through these 11 steps to grow your superannuation faster.
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,
Technology
- Opinion
- Cybersecurity
Global IT outage the wake-up call we needed
We can’t rely on luck to avoid these scenarios. We have to face the hard truths of cyberspace and to finally do something about them, writes Katherine Mansted.
Global IT outage could take weeks to resolve, experts warn
The only remedy for Windows users affected by the “blue screen of death” error involves rebooting the computer and manually deleting CrowdStrike’s botched file update.
- Analysis
- Software
When tech fails, it is usually with a whimper instead of a bang
Forget artificial intelligence, disaster is as likely to creep in quietly – perhaps from a piece of technology so mundane that hardly anyone knows it exists.
Work & Careers
- Opinion
- International affairs
Power tips from ‘House of the Dragon’ and ‘Shōgun’
The popular swords-and-scheming TV series have lessons for modern political parties.
‘True giant’ Kevan Gosper, Olympic veteran and businessman, dies
The Olympic silver medallist, who was planning to go to next week’s Paris Games, gave Australia’s fledgling Olympic movement business-like governance.
Life & Luxury
The kids of this famous choir prove busy people will make time
Forget social media. The pre-teen choristers of The Choir Of King’s College, Cambridge, are just as happy to read and sing the sheet music of Stravinsky and Tallis.
Do you know this week’s news? Answer these 10 questions
Have you been paying attention this week? Test your knowledge across politics, business and world news.
Not an outlet store: how fashion brands are making discounting cool
With the opening of a new “luxury discount” precinct in Sydney, local retailers are trying to make sales fashionable.
- Exclusive
- Retail
Bassike third local fashion business to lose a co-founder this year
Bassike co-founder Mary Lou Ryan is leaving the business she helped create.
‘I’m in Hell’ – when AI resurrection goes wrong
It is in its infancy but “death capitalism” will soon become big business.